Columbus Ohio Homes

Columbus Ohio Real Estate has certainly seen some changes since 2006. The housing market has been devastating to most property owners and has caused many sellers to realize losses. Newer home owners who suffer from negative equity have traveled down a path of financial ruin and disaster as home values sink into a hopeless abyss. As a real estate agent in this housing slump I have experienced some horrible circumstances where property owners really had no option but to let their home go into foreclosure. Some people are doing short sales in these difficult times but there are many who basically get kicked to the curb by the bank. If you are not accustomed to this industry you don't understand the ugly side of lenders. They pride themselves on customer service when they are taking your money but when they are on the losing end the fangs come out. I have seen several times when a deal could have come together to save a homeowners credit and avoid foreclosure but instead the bank simple refused to budge from their number and they were not nice about it either. When it come down to the almighty dollar the banks lose their respect for humanity and don't seem to care if they destroy someone's financial situation.

So is there any good news? Better news is already starting to bud out and it looks like we are in the midst of a reversal in the Columbus housing market. Many homes for sale around Central Ohio are starting to see slight up ticks in value. In fact home sales over the last 4 months of 2009 were up 24.3 percent compared to the same quarter in 2008 according to the Columbus Board of Realtors. There is abounding evidence that property values are on the rise and the number of homes selling is also increasing. Dave Liniger co-founder of R/EMAX International wrote in a recent article that we will see increases in property values over the next 3 years. While this will be a bumpy ride with lots of ups and downs the general shift will be in the up direction.

Columbus Ohio real estate is in quite a unique position. Fortunately during the big real estate boom years Columbus OH properties did not see the gianormous increases that much of the country experienced. Columbus has always had steady increases in value. The home values in Columbus did not double like other places. When the bubble finally burst Columbus saw it's share of price decreases but it wasn't the dramatic freefall that other areas realized. What this means is we have a more conservative market here in Ohio. With that being said combined with recent conditions this really is an excellent time for buyers in the Columbus Ohio real estate market.

Attention buyers this is a perfect time to buy! The lending requirements have changed and it is harder to get a loan today. If you don't have some cash for down payment and a good credit rating then getting a loan will be a daunting task. However the current interest rate on a loan is ridiculously low. The low lending rates combined with excellent low home prices and the recent trend that prices are increasing makes this a buying market they will probably never see again in our lives. If your credit is bad you had better repair it fast and if you don't have any money you had better find some and in a hurry. There are lots of tax incentives encouraging you to buy a home. Not only do you get a huge tax write off but our current government is giving away money in form of a tax credit to encourage you to buy.

Columbus Ohio Real Estate is positioned in an almost perfect buying market. This is great news for would be buyers and it also shines a light at the end of the tunnel for sellers. The forecast looks good and I'm happy to say that even through this housing mess there have been some great success stories as we continue as Realtors to help buyers and sellers reach a successful transaction.


For more information and charts visit Columbus OH Homes for Sale or visit the Columbus MLS.