Mortgage Rates drop -again - a bit - for now
I don't pretend to be the Chairman of the Federal Reserve board or have a Masters degree in marketing.
I am pretty knowledgeable when it comes to Mortgages and home buying/selling money matters but let's face it, it's not my area of expertise. That's why I occasionally post things like this. I think it's important that buyer's be aware of what the rates are but not panic or become overly concerned with rates. They go up. They go down. What do you want in a home and how much are you comfortable paying every month on your mortgage -- that's where I always start.
Speaking of mortgage expertise,
I will be bringing on a regular contributor to the blog who does have expertise in the mortgage area -- Jeremiah Arn, of First Place Bank, will be writing regular contributions to the blog regarding home financing. He will shed some light on major and typical issues buyers and sellers might want to know about and probably quite a few issues they never thought of but find extremely useful -- not unlike how I hope my Columbus real estate postings are regarded.
In the meantime, here's the news of the day---
"Long-term mortgage interest rates sank further Wednesday, and the benchmark 10-year Treasury bond yield dipped to 4.96 percent.
The 30-year fixed-rate average fell to 6.14 percent, and the 15-year fixed-rate dipped to 5.84 percent. The 1-year adjustable held at 5.42 percent.
The 30-year Treasury bond yield decreased to 5.05 percent.
Rates are current as of 7:15 p.m. Eastern Standard Time.
Why might rates fall? Maybe it's the economy. . . . .Mortgage rates fell for the second consecutive week as slower economic growth eased inflation concerns, according to surveys conducted by Freddie Mac and Bankrate.com.
In Freddie Mac's survey, the 30-year fixed-rate mortgage dropped to an average 6.63 percent this week, down from last week's average of 6.72 percent. The average for the 15-year fixed-rate mortgage also sank from last week, falling from 6.34 percent to 6.27 percent.
Points, which are fees charged by lenders for loan processing expressed as a percent of the loan, averaged 0.3 on the 30- and 15-year loans.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 6.27 percent this week, with an average 0.4 point, down from last week when it averaged 6.35 percent. The one-year Treasury-indexed ARM averaged 5.69 percent, with an average 0.7 point, down from last week when it averaged 5.78 percent.
"Second-quarter Gross Domestic Product (GDP) came in weaker than the market had expected. This means inflation is less of a threat, and that translates into lower mortgage rates," said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement.
"
Although lower rates are a welcome sight, we still feel that the 30-year fixed-rate mortgage rate will drift up and down somewhat over the next few months, but will average less than 7 percent for the year."
In Bankrate.com's survey, mortgage rates declined for the third time in the last four weeks on the heels of slower second-quarter economic growth. The average 30-year fixed-rate mortgage fell to 6.65 percent, the lowest since April 26, and these loans had an average of 0.3 discount and origination points.
The average 15-year fixed rate mortgage, popular for refinancing, dropped by a similar amount to 6.3 percent, according to Bankrate.com. On larger loans, the average jumbo 30-year fixed rate declined to 6.86 percent. Adjustable-rate mortgages also declined, with the average 5/1 ARM sliding to 6.36 percent, and the average one-year ARM retreating to 6.03 percent.
Validation that the economy did indeed grow at a slower pace pushed mortgage rates lower this week, Bankrate.com noted. The initial Gross Domestic Product for second quarter revealed a growth rate of 2.5 percent, but mortgage rates have fallen by one-quarter percentage point in the past month on mounting evidence that the economy is downshifting. Slower economic growth increases demand for long-term government bonds and reduces fears of inflation over a long horizon. Both send Treasury yields lower, and mortgage rates are closely related to yields on long-term Treasury securities.
Bankrate.com noted that fixed mortgage rates are nearly three-quarters of a percentage point higher than one year ago. One year ago, the average 30-year fixed mortgage rate was 5.91 percent, meaning that the monthly payment on a loan of $165,000 was approximately $980. With the average 30-year fixed rate now 6.65 percent, the same loan originated today would carry a monthly payment of $1,059. Despite recent increases, fixed mortgage rates remain an attractive refinancing alternative for adjustable-rate borrowers facing sharp payment adjustments
Inman Real Estate News - Overnight real estate rates down again:
Transitioning the blog
I am in the process of tranisitioning the columbus condo blog.
I am posting all new postings to the blog at the new site:
http://columbushomesblog.com/index.php?option=com_content&task=blogcategory&id=237&Itemid=66I will be making all the necessary link changes soon and it will be
live by mid August. Keep checking the new site for recent postings.
Saturday's Condo Hop was Super
If you missed this month's condo hop, you missed a great presentation on the Yukon, another great presentation from the Hartman, three re-sale condos in the Arena District and one in a residential downtown neighborhood that had 1500 sq ft and 2.5 baths.
In addition,
you can't beat the witty banter and knowledge that gets passed around the bus from stop to stop.
Hope to see you at the next cowtown condos monthly condo hop.
Meter running on request to raise taxi fares
One of my main gripes about downtown and Columbus in general, is the lack of public transportation. While Cota does everything it can, it's not easy to catch a bus on the weekends. There's no train, there's not a good way for convention center visitors to get out of their immediate area.
I'm more concerned with the transportation issues of people who live downtown. Again, it all comes back to quality of life. IF you live downtown, and if you work downtown and if you shop dowtown,
could you truly live your life carless in dowtown Columbus?Midwesterners like us don't get the concept of not having a car, that's why people bristle at condo projects with no parking. Cabs are a very important part of life in a metropolis. Taxis often go unnoticed but I am positive they will begin to play a much bigger role downtown as more and more people move there.
That said, I have noticed an increase in taxis patrolling the downtown area. Not too long ago, you'd have to hoof it to a taxi stand if you needed a lift as opposed to sticking out your arm and flagging one down. Blue Taxi in particular seems to have really stepped it up downtown. I noticed this especially when walking through downtown on the way to and from Comfest a couple weeks ago.
That bodes well for the future of downtown.
Sure, streetcars aren't a bad idea-- but hey, hop into a cab and you're off. Cabs exist now. Cabs aren't too expensive. A marketing campaign from a smart cab company would cost a lot less than the materials and infrastructure for streetcars that won't even go East and West of downtown - the two areas that need residents and businesses the most.
Excerpts from today's dispatch. . . .
City Council to decide Monday on first rate increase in 6 years
The council in February 2000 approved a dime increase for every two-ninths of a mile that the passenger travels, at a time when gas was around $1.40 a gallon.
Given that gas is now closer to $3 a gallon and the cost of living is undoubtedly higher, cabdrivers and company officials are trying to increase the cost of a cab ride in Columbus. The cabbies are asking that the basic fee for a cab ride start at $2.75, which would be 75 cents more than the current $2 rate. They also want fares to go up from that by 45 cents, instead of 40 cents, for every two-ninths of a mile driven. "I’ve heard no objections. This is a very appropriate and important increase," Councilman Mike Mentel said. "Sometimes we (forget) how important the cab industry is for local business." Columbus has 17 areas, the majority of them Downtown, where a few drivers can wait to pick up fares, . . . .But there should be more . . . "I think we’re the only city in the world with a convention center that doesn’t have a cab stand at the center," he said before the hearing. "The nearest cab stand is at the Hyatt. It’s crazy."
Many times, cabdrivers are ticketed for driving too slowly as they wait for fares, said James Stofer, president of the Yellow Cab Co. The $35 tickets each add two points on a driver’s license.
The council will vote on the increase Monday. If approved, it would take effect 30 days later.
Friday, July 07, 2006
Jodi Andes
THE COLUMBUS DISPATCH jandes@dispatch.com
Downtown Columbus - What's it like?
Many people ask me what is so great about downtown Columbus and why are people moving there. While the sidewalks used to get rolled up at 5:00, things are definately happening there. Here are some of the demographics of Downtown Columbus ohio from the Downtown Development Corporation. Quality of life, quality of living. Remember, this is downtown proper and doesn't include the Short North or German Village.
• Demographics
Size: 1500 acres, 1% of Columbus total
(Downtown area bounded by I-670, I-71, I-70, and CSX Railroad/SR 315)
Recent Capital Investments: $1.86 billion in public and private investment from 2000 to 2005.
Population: 4,398 estimated (3,488 in 2000 Census)
Housing: 2,943 units (2,147 in 2000 Census)
Employment: 122,393 (43215 zip code)
College Enrollment: 31,000 (Columbus State Community College, Franklin University, Columbus College of Art and Design, Capital University Law School)
Parking Spaces (on- and off-street): 77,000
Eating and drinking establishments: nearly 200
Retail stores: nearly 200
Churches: 16
Performing Arts Theatres: 7 2,000 performances over 200 event days with 650,000 attendees annually
Ohio Theatre
Palace Theatre
Southern Theatre
Capitol Theatre
Riffe Studio Theatre I, II, and III
Hotels: 12 The Columbus - A Renaissance Hotel
Courtyard by Marriott
Crowne Plaza
Doubletree Guest Suites
Drury Inn & Suites
Hampton Inn & Suites
Holiday Inn City Center
Hyatt on Capitol Square
Hyatt Regency Columbus
The Lofts Hotel & Suites
Red Roof Inn
Westin Great Southern
Downtown Residence Inn construction starts after 18-month redesign delay
This is from today's Business First.
I didn't realize this building by the corner of Gay and High was slated to be a Residence Inn. That's great news for the vitality of downtown since it's more central than most downtown Columbus hotels and close to some downtown Columbus condominium projects.
Additionally, they're saving an historic building and the hotel itself will be urban-cool because of the architecture.
Suite hotel finally gets off ground
Business First of Columbus - June 23, 2006
by Brian R. Ball
Business First
A North Carolina hotel developer and operator has begun the long-delayed conversion of the old Buckeye Federal Savings and Loan building in Columbus into a Residence Inn by Marriott.
Concord Hospitality Enterprises Co. and development partner
Lubert Adler Real Estate Funds of Philadelphia expect to open the 126-suite hotel at 36-42 E. Gay St. by mid- to late-summer 2007.
Debra Adcock, Concord's vice president of operations in Ohio, said Columbus-based
Ruscilli Construction Co. started the $23 million project June 19 after climbing development costs forced a redesign of the project over the last 18 months.
"The sheer complexity of redeveloping an 80-year-old building and increases in construction costs made us rethink and reinvent the design," Adcock said. "It took a significant amount of time to do that."
The partnership earlier completed demolition and removed asbestos from the building.
"The tough part is over," Adcock said. "Now we're into the fun."
The Residence Inn, she said, should complement the business Concord Hospitality does at the 149-room Courtyard by Marriott business-class hotel it has owned and operated at 35 W. Spring St. since 1994.
The Courtyard "is designed for business and leisure travelers staying for less than five nights ... whereas the Residence Inn is designed for customers staying five or more nights," Adcock said.
The Residence Inn has studio rooms, and one- and two-bedroom units.
The rooms include kitchens and living rooms.
"It's apartment-style living," Adcock said. Meeting the market
Construction of the Residence Inn starts two years after the former Adam's Mark on North Third Street was turned into a Renaissance Columbus, another Marriott-flag luxury hotel.
Real estate consultant Eric Belfrage said the addition of an all-suite hotel downtown will round out offerings for travelers.
"I think it's a fabulous addition to the market," said Belfrage, a lodging specialist with CB Richard Ellis Inc. "There's nothing like that downtown." The Residence Inn will mark a 4 percent addition to the 3,151 hotel rooms downtown, meaning it should have little effect on center-city hotel occupancies, he said.
Belfrage said renovation of a historic building will add a cosmopolitan dimension to the downtown lodging market.Adcock said a few details of the project remain in flux.
For instance, the size of the hotel's convenience store is not set, she said, and the developer has yet to secure a restaurant operator for an area off the lobby.
"The most difficult part of that is having the (restaurant operator) see the space," Adcock said. "They want to visualize the space before they commit to it, so we really need to get into construction."
The chief executive of the region's convention and visitors bureau said he welcomed the hotel's progress.
"We were a little concerned it might not move forward," said
Experience Columbus CEO Paul Astleford.
He said the hotel, once complete, will add to the mix of hotels available downtown even if it's not close to the Greater Columbus Convention Center.
"I think it will get good play from convention groups because it's a good name and it's a good product," he said.
Stainless and Granite, blah blah blah
Is is just me or does everyone and their mother have stainless steel appliances and granite countertops these days. It's become so in tune with "the hot new look" that I think it's neither hot nor new.
Yes, I still love the look and Yes I do consider it somewhat timeless but perhaps there'll be a day when today's stainless steel becomes yesterday's avocado green.
What ever happened to quartz becoming the new granite? Isn't it non-porous, essentially maintenence-free and has great depth and clarity? Just once I'd like to see a Columbus home advertised with quartz, even cement or soapstone countertops and stainless.
Yes, I have granite in my kitchen and it needs some maintenance and could be stained by wine, acids or oils. As much as I love my granite, I'm just looking for the next thing in Columbus Ohio real estate ads. I do like seeing non-black granites used in kitchens since black is far and away the color granite of choice. It seems to class up a kitchen a little if it's a lighter color.
Condotels?
While Columbus is not Daytona Beach or Miami so we probably won't be seeing condotels, it is an interesting concept and not that far removed from what we're seeing in places like the short north and olde towne east where duplexes and apartment buildings are going condo. . . . .
Excerpts from the Inman News Article . . . . . . .
Condotels catch on fast -- maybe too fast
Thousands of units under way in major real estate markets
Tuesday, June 20, 2006By Glenn Roberts Jr.Inman News
Robin Glass, Coldwell Banker Pacific Properties
Charlotte Chipps, an Ohio schoolteacher, bought a condominium-hotel unit last year in Daytona Beach, Fla. A developer had bought up a couple of hotels in the area and converted the buildings into condotels -- which allow buyers to purchase individual units and gives them the option to enroll in a rental program that opens their units to hotel guests for a share of the rental income.
"It was sort of a whim," she said. "I do own a house in the Daytona area that I rent. I had just that little bit of experience. I'm not a person with any money. I just thought that this would perhaps be an investment for me. If values continued to go up, I would keep it for two or three years and make $20,000 or $30,000."
Meanwhile, at the southern end of the state, a swarm of new luxury high-rise condotel projects are in the works. The surge of condotel developments has hit other coastal markets too, and there are several high-end projects under development in downtown Las Vegas.
Condotels run the gamut from aging, low-rise hotel conversions to ultra-luxury, new high-rise towers backed by big-name developers and hotel chains. The condotel movement even has its own association, formed this year: the
National Association of Condo Hotel Owners, or NACHO.
Condotels are not just a flash in the pan, says Dante Alexander, president and CEO for the condotel association, though they aren't typically a cash cow for owners, either -- and buyers should be aware of all of the costs and complexities associated with these properties.
"People like to refer to it as a trend," said Alexander, who formerly worked for Starwood Hotels & Resorts Worldwide Inc. "Now, admittedly, it's a segment. But it is really going to be much more than a segment." Condotels, he said, will represent "a significant quotient of hotel real estate in the country," and they are already making waves in some international markets.
There is a risk of over-building in some popular condotel markets, and lenders have heightened requirements for projects, though Alexander said he expects a cooling-off period and a shift by condotel developers to broaden the range of prices and locations for the projects to appeal to a larger pool of buyers.
"Everybody is pulling back a little and appropriately so. There is a little bit of oversupply going on. It shouldn't be a frenzied environment, and it has been a frenzied environment," he said.
While attending a real estate conference, Alexander said another attendee asked, "What if (the condotel market) implodes?" Alexander's response: "What if it doesn't?" Based on the demographic trends of baby boomers and their children, Alexander said he expects that in the next couple of years "we're going to wish we had more" condotels.
He advises prospective buyers to
purchase a condotel unit because they plan to use it, not because they plan to quickly flip it and make a quick buck. A common misconception is that the rental profits of a condotel unit will generate profits for the owner. But with insurance and maintenance and mortgage costs, owners shouldn't expect to earn any money in the short term, Alexander said. "It's an expense. It's going to be like owning any other piece of property."
Victorian Village in the short North to get some good looking homes
The former parking lot never looked so good.
I'm always amazed by how much can go in a tight spot. Urban Density is a good thing for Columbus and it's especially a good thing for near center city neighborhoods like the Short North, Italian Village, and the near east areas like Olde Towne East and Bronzeville.
excerpts from yesterday's Daily Reporter article. . . . .
A new Plaza Properties development will bring
86 condominium residences to Victorian Village in the next year and a half.The firm's latest undertaking, The Valerian in Victorian Village, will occupy a 1.7 acre site on Starr and Third avenues, on land that formerly was home to a parking lot used by the staff of the nearby Victorian Village Health Center.
Plaza acquired the property from Third Apollo Co. on Dec. 5, 2005.The Valerian will consist of four distinct housing segments.
-The Homes at The Valerian will feature five, three-story, two family duplexes. The 10 residences - 1,500-square feet each - all have two to three bedrooms and two-car garages with private entrances.
-The Crescent at The Valerian will be comprised of 30 two-bedroom residences fronting Starr and Third avenues. Six street-entry flats will measure 1,200-square feet each, 14 "crescent" flats and 10 top-level flats will be 1,075- to 1,600-square feet each.
Eighteen units will have one bedroom, while the remainder will have two bedrooms.One parking space will be reserved for each of the street-entry and crescent flats, while the top-level flats each will have two spaces per unit.
-The Flats at The Valerian will consist of 30 common hall units, ranging in size from 825- to 1,120-square feet each. The building will have elevator service and each residence will have one parking space.
The Carriage Houses at The Valerian, to be located behind the Homes, will consist of eight townhomes measuring 1,200-square feet each and eight flats at 900-square feet each. All the townhomes will have one-car garages with private entrances.
All the buildings are brick and stone, and several feature gables and large front porches - features that are popular in Victorian architecture, said Shane Bell, project manager at Architectural Alliance, The Valerian's architect of record.
A contractor for the project has not yet been chosen.The Valerian is
expected to break ground in the fall, with construction completed in late 2007. All residences at The Valerian are expected to range in price from $180,000 to $375,000.(picture curtesy of the Daily Reporter via artists rendering belonging to Plaza Properties.)
City Hop
City HopThe Columbus Landmarks Foundation hosts the 7th annual City Hop on Saturday June 17th. Festivities kick off on the 16th with a Brewery District tour and kickoff party.
This year's City Hop will feature 19 stops, some essetially at one location, from condos for sale, to condos being built to apartments to a giant decorating store, Grayson's Living Ideas. In addition, City Hop will feature "Lofty Ideas — a day-long series of short talks about how to create dynamic living spaces in old building lofts. Held in various City Hop tour stop locales and led by local artchitects, designers and other professionals. Topics include space design, urban gardening, storage and entertaining.
Cowtown Condos own monthly Condo Hop has visited most of these sites in the past and will visit others in the coming months. Don't be confused, the monthly condo hop is put on by me, Realtor Joe Peffer of Coldwell Banker King Thompson. If you haven't yet attended one and are interested in downtown columbus condos and dowtown columbus living, you should check us out the 2nd Saturday of Every month. As always, we leave cafe Brioso (corner of Gay and High) at 10 AM.
Who is the Columbus Landmarks Foundation?
-"What is Columbus Landmarks Foundation? Columbus Landmarks, the organization that produces City Hop, was founded in 1977 by a dedicated group of historic preservationists and local residents who were committed to preserving Columbus' architectural heritage. Since that time, Landmarks has played an integral role in educating the community, encouraging responsible public and private sector enhancement of historic areas and structures, and promoting the highest standards in the design and construction of new buildings and spaces. For more information, click here to get to our home page or call the Landmarks office at 614-221-0227. "
All this rain makes for a great time to see a columbus condo!
It must be time for the Memorial Tournament and the Columbus Arts Festival.
The weatherman predicts a gorgeous weekend though, so hang in there.
In the meantime, I should point out that
looking at homes during a downpour (as I have the last couple days) is a great time to discover some basic truths. It's especially nice to take a look at basements and discover the truth to the seller's property disclosure statement that reads something like this: "During very heavy rains, there is a small trickle of water that runs to the drain from the southwest corner of the basement."
Of course you have to take them at face value if you see the home on a nice sunny day and only discover after you move in that the trickle is more like a torrent of water that moves your dryer three feet. Take a look in the attic too.
If you are especially interested in the home and access is available, take a look in the attic crawl space and look for any signs of water intrusion.
Termites? In the city? In my condo?
Maybe.
Termites are a problem, or can be a problem, no matter you live.
No doubt many of you received that infamous email about Formosan termites being embedded in hundreds of thousands of bags of mulch from trees downed by last falls southern hurricanes.
While it is true that this larger species of termite is more pesticide-resistant than domestic termites, they are definitely not included in bags of mulch from Lowes or Home Depot and couldn't survive a winter here in Ohio if they were somehow transported here.
They were introduced to Gulf port states some 50 years ago on ships from East Asia and although they can migrate on their own, they are usually spread primarily through human transport. Your garden variety termite is still a big deal though.
Termites do more than $1 billion in damage each year and not a week goes by when I don't hear a story that has to do with termite damage. Most lenders require a termite inspection prior to authorizing your mortgage. Even if it isn't a condition to your mortgage, have a termite inspection done by a certified inspector. This picture shows what termite damage may look like in a floor joist or ceiling beam.
Single Women Make up 21% of all buyers
I mentioned here about 15 months ago as I noticed that a good amount of my clients the previous year were single women.
It turns out
21% of all home buyers last year were in that category. That's more than twice the rate of single men across the country, according to the National Association of Realtors.
Low mortgage interest rates, lots of homes on the market and higher earnings may be some of the reasons why women are buying homes but I've not read or heard the answer to the obvious corollary -- why don't more single men buy homes for themselves? Is it just some sort of natural phenomenon? Are single men home-adverse? Are they financially unstable or uninformed?
Here's something that may explain a little of that: Maybe it's because of the 4.3 million Americans age 25-34 who are still living at home with their parents, about 63% are men.
According to a Sears study, about 85% of women have been, are, or expect to be soley responsible for a house within their lifetime.
Urban Gardening Basics - Condo Gardening for Beginners, Tips, Videos & more
It's time in Columbus to put the vegetable and other gardens in. The potential for overnight frost is all but gone. If you live in a condo, you don't have to trade in your green thumb, it's all about containers and pots.
If you're not sure what to do or how to go about it, the HGTV link below takes you to a good basic Q&A page with lots of great advice and hints for the urban gardener.
While I'm at it, I'll come out of the closet on HGTV. I'm a sucker for a couple of their shows, especially House Hunters. Sad but true. I do it all day long and then I come home and watch other people do it on TV. What can I say, I'm a real estate junkie. Of course, that's not a bad thing for my clients.
http://www.hgtv.com/hgtv/pac_ctnt_nobanner/text/0,,HGTV_10680_23683,00.html
Absorption Rate - How long will my house be on the market?
Although many sellers expect Realtors to carry around a crystal ball and peek into it when setting prices and setting expectations for the sales process, the truth is we can only rely on what the market tells us, experience and knowledge.One tool sellers can use to estimate time on market and temper expectations is Absorption Rate.
To calculate Absorption Rate, divide the number of listings by the number of sales during the last month. Currently, the Columbus real estate market has 17,186 homes and condos on the market. From April 17th to today, 2197 homes or condos have sold, making the absorption rate 7.82.
While certainly not scientific, it is a decent off the cuff barometer of what to expect in a market.
An average seller in Columbus can expect that, if there were no more new listings, that it would take 7.82 months to sell all the current listings on the market. That's up an entire month from about 45 days ago when there were about 1200 fewer homes available.
Let's take a quick look at the absorption rate for some different markets:
Upper Arlington ohio homes - 6.28
Bexley ohio homes - 5.8
Greater Olde Towne East homes - 10.63
Westerville ohio homes - 6.49
Worthington ohio homes - 6.59
Grandview ohio homes - 3.5
Downtown Columbus Condos for sale - 5.31It goes without saying that all homes are not created equally. Nor are they priced equally well. In today's tougher seller's market, Sellers must have realistic expectations of selling price, time on market, and what to expect throughout the process. Their homes have to be clean, clutter free, smell free and as well cared for as possible.
Buying and selling at the same time
The daily reporter today had a great article about selling your home and buying your next home and the stress that goes with it. The way I do things is like this:
- Take the sellers out and show them some homes they might like
- If they find some they like, chances are they'll find some when it's REALLY time to look
- List their home -- Assign them the task of finding their new home with my tech tools and just driving around, looking at open houses, etc.
- Put their home in contract
- Go look at homes they already are ready to see because they've been watching the market
- Put new home in contract
- Close on old home
- Close on new home
Of course, there's much more to it than that and if they've fallen in love with the 'new' home, a bridge loan sure comes in handy. You should see what lenders can do with bridge loans these days too, unbelievable. I like them most for people moving into Columbus or people moving out town.
Here are some highlights from the article ----
Putting a house up for sale can be a stressful experience. According to RealEstate.com, the endeavor is even more taxing for those who are simultaneously selling their home and buying another, prompting the home listings provider to survey 550 such homeowners about the unique challenges they face.
"Many people underestimate the emotional overload of selling one home and buying another at the same time," said Holly Slaughter, consumer experience expert for RealEstate.com."That sense of uncertainty, which is always present to some degree during a home sale or a home purchase, is basically doubled for bridging homeowners," she said. "The only antidote is to spend some time planning for contingencies and to set your expectations realistically."
Forty-two percent of respondents said the uncertainty of knowing how quickly their home would sell was difficult or more difficult than expected. Nearly 70 percent said they were "worried" during the selling and buying process and 67 percent said they were "hesitant." Most people do not buy and sell houses every day, so their unfamiliarity with the process tends to get the best of them, said Chris Reese, president of the Columbus Board of Realtors."That's why they need to get in contact with a Realtor to get that series of events in place," she continued.
Sixty-two percent of those surveyed were successful dual-closers, meaning they were able to close on their existing home and move into their new home without a significant lapse in time. The remaining homeowners either had sold their homes but had not yet closed on a new one, or had closed on a new home but had not yet sold their original home.In addition, the survey revealed that 48.2 percent of all respondents agreed or strongly agreed that the dual negotiation process was taxing.
About 53 percent of those respondents were women, while 42.2 percent were men."For most bridging homeowners, success means moving seamlessly from one residence to another, since most of us don't want the hassle of living in temporary housing or the expense of paying two mortgages," Slaughter said. Nearly half - 47.1 percent - of respondents agreed or strongly agreed that getting their home in sale-ready condition took more time and energy than expected.Once owners begin sorting through all the things they have collected over the years - the first step to getting a house in order - they can begin to feel overwhelmed about moving out, Reese said.
The majority of the bridging homeowners surveyed, 78.2 percent, had no regrets about the process. However, if they had to do it again, 9.9 percent of men vs. 8.8 percent of women, were more likely to say they would have sold their existing home before making an offer on a new home. "For bridging homeowners, there are a lot of moving parts," Slaughter said. "But the good news is, there are some simple things they can do to smooth the process."
The full article can be found here: CENTRAL OHIO SOURCE - The Daily Reporter, Inc.: "Bridging homeowners face unique challenges when buying and selling Bridging homeowners face unique challenges when buying and selling MELANIE MCINTYREDaily Reporter Staff Writer05/04/2006
This week's urban news
A Wal-Mart at city center?
No. I don't see that happening with one being erected in Whitehall. I do believe big box retailers should come up with urban plans and stick stores in areas that need revitalization or are in the process of becoming more and more popular.
It'd be nice to someone step up to "save" the mall. I've always said that I'd like to see a 2 story Target and a one story Trader Joe's fill one of the empty anchor stores there. Interestingly, I've heard several times lately that a casino would really do the trick. Gambling is not cool though and there is little room for gauche in the Re-development of downtown.
Parsons Avenue Plan
It's nice to see the city step up and try to help out the near south side. I love Parsons avenue and I consider it one of the coolest urban streets in town the same way that West Broad on the Hilltop is, High Street going North from Downtown, Cleveland Avenue in Linden and soon, I hope, Long Street in Bronzeville.
Sadly though, a plan is only that, a piece of paper. The city is buying up Parcels and that could be a good sign but make sure, O' Denizens of the South Side, that appropriate, sustainable, development comes the way you want, when you want it and how you want it. The city is notorious for non-thinking development for development's sake and shutting out the voices of the neighbors. (See four corners and Hamilton and Long).
April Condo Hop - Short North
I'M CALLING IT, "THE AFFORDABLE TOUR"
Everyone always wants to know what a regular
Joe can buy in the way of a midtown condo in a good location. Well, come out Saturday April 8th for the Affordable Tour and see 10 Short North condos all under $200,000.
A first for the tour will be --- provided transportation. Yes, we'll be schlepping around in style for April's condo hop as we've chartered the Bexley Beat to drop us from condo to condo.
Unlike some recent hops, there will be no big new developments to stop at and get the informative spiel from the Realtors or developers who are selling them. This will be mostly resale condos -all of which will be listed by other Realtors and their respective brokers- from the Convention Center to practically campus and they will all be under $200,000.
For $2 you can park in the lot at the north-west corner of Gay and High. Meet at
Cafe Brioso around 9:45 AM and we'll be leaving promptly at 10AM.
Any questions,
email or call 324-4357.
18-24 new Townhomes and Condos coming to Bronzeville
I have to report this since I do live down the street from this impending project and have, through the neighborhood association
KLBNA, been heavily involved with bringing new residents and businesses to our community.
This is from an advanced copy of our forthcoming newsletter:
The City of Columbus has named the developer for the vacant lot at Monroe & Long Streets. Glavan Blackwell Resources was chosen as the developer, in part, because they
included both commercial and residential development in their proposal.
Dana Moessner, Chair of Development for KLBNA, agrees with the city’s choice because,
"Glavan followed the King-Lincoln District Plan and the Near East Area Plan, which means we’ll have a complex that is architecturally appropriate for the area, and will bring positive economic impact to the community."
Eighteen townhomes will be built on Monroe and Talmadge Streets, and a 3-story building will go up on Long Street to accommodate retail on the first floor and condos on the top two floors.
Mark Barbash, director of development for the City of Columbus, was interviewed by Business First about the Monroe Cluster announcement.
Here’s an excerpt from the March 3rd article by Scott Rawdon:"Barbash said the Monroe Cluster is vital to the development of the Long Street District and is an integral part
of the King Lincoln District Redevelopment Plan. Investment in the Monroe Cluster will likely jump start the local economy and convince other developers of the long-term Street Community. The goal, Barbash said, is to keep new housing prices and retail space rental affordable at market rates."
Keena Smith, assistant director of development for the City of Columbus, was quoted in the same Business First article as saying, "The community involvement is the key.
This is a neighborhood that’s been blighted for a long time. We want to make sure that the people who are living there can stay there."
Groundbreaking is expected in the second half of 2006.~
Downtown Career Center at 4th and Fulton gets OK
This is fantastic news for the southern edge of Downtown. The building that sits there now truly is an eyesore and the artists rendering of the new CPS Career Center looks like a newly built office complex which would be a big improvement.
Better yet, the center will offer a beauty salon and restaurant for those living and working downtown to be run by the students. That part of town could use a lunch spot, especially with outdoor seating. Just ask anyone living at the Renaissance.
Maybe the best news, though, is that the district wants to make sure the space is flexible should they want to someday turn it into an alternative school. How many times have I said that we need a Public downtown elementary, middle and high school with a sterling academic reputation. It's nice to see the district, at the very least, has an eye open for such in the future.
- - - - - - -
Plans OK'd for first high school in Downtown business district
Friday, March 24, 2006
Debbie Gebolys
THE COLUMBUS DISPATCH
Columbus Public Schools received the OK yesterday to build a $24 million high school the first in city history in the Downtown business district.
Yet to be named, the career center and adult-education center will be built on Mound Street, between 4 th and 5 th streets, in time for the 2008-2009 school year.
"I think it's going to be huge for Downtown," said Carole Olshavsky, senior executive of capital improvements for the school district. "It represents a change in the philosophy of investing in kids."
The Downtown Commission approved the district's request to demolish an 86-year-old former sheriff's office building that stands vacant on the site.
School administrators expect to begin site work this summer and construction on the school before the end of the year.
The school will open as a career center, but Superintendent Gene Harris "is very interested in a flexible building for the future," Olshavsky said. Officials want to design the space so it can be converted to an alternative high school or another type of school if needed.
The Downtown school and one being expanded at Fort Hayes Arts and Academic High School will replace the Northwest, Northeast and Southeast Career centers and serve 2,000 students.
The curriculum for highschool juniors and seniors will be tailored to capitalize on surrounding Downtown workplaces, with students expected to get experience and internships at a nearby Columbus fire station, the Franklin County Courthouse and local businesses, Olshavsky said.
Among the areas of study will be accounting, logistics and information technology, emergency medical technology, firefighting and criminal justice.
Administrators also want Downtown workers and residents to patronize a restaurant and beauty salon planned for the school.
To be built along the 4 th Street side of the building, the salon and restaurant represent the school's cosmetology and culinary-arts programs and will be run by students. The restaurant will have both indoor and outdoor seating.
The four-story, 136,000-square-foot school will be the district's tallest, large enough to accommodate 800 students in each of two half-day sessions per school day.
Architects envision Mound Street as the main entrance and student dropoff area. School buses would use the Engler Street alley south of the school for bus dropoffs.
Olshavsky, however, said that unresolved plans for rebuilding the I-70/71 split could affect that.
If the Ohio Department of Transportation decides to use Mound and Fulton streets to funnel traffic to and from the highway, one of several proposals the state is considering, dropoff areas could be moved.
School officials expect final designs by May.
The district paid the state of Ohio, which rented the space to the county, $2.2 million in January for the 3-acre site and for two parking lots immediately south of Engler, intended to serve as staff parking.
It was $1.5 million less that the Franklin County auditor's office appraised the properties for last year and $600,000 less than the district had budgeted.
The parking lots surround the former Pfeifer Printing Co. at 190 E. Fulton St., which the district also wanted to buy to add an auditorium to the school.
Owners are asking $1.4 million for the property; the auditor appraised it at $550,000.
dgebolys@dispatch.com
Columbus Landmarks Hosts Renovation Forum
Renovating & adpating old spaces for new living expectations
Saturday, April 1, 10am - 4pm
St. Paul Episcopal Church,
787 E. Broad St.$50 per person, $75 per household
This daylong hands-on workshop teaches property owners how to restore and reuse old homes, from tackling do-it-yourself projects to finding a contractor. Learn about masonry repair; plaster restoration; wood restoration for windows, doors, and floors; roofing and drainage systems; and more.
Registration includes lunch, a current directory of contractors who specialize in renovation and restoration work, and 6-month memberships to both Columbus Landmarks and Heritage Ohio.
Space is limited. For more information or to register, contact Columbus Landmarks at 614.221.4508 or email
lbidwa@columbuslandmarks.org.
While you're there, drink in this beautiful church that has an unsure future since its flock recently left.
So Much New News about new Developments
Today's edition of Business First was chock full of newish condo news.
First there was a piece about Larry Ruben and his Plaza Properties company which is doing Bexley Gateway, the Yukon Building, and the Hartman Building.
The Victorian Village commission is apparently reviewing
a plan for 86 units-- a mixture of townhomes, flats, duplexes and penthouses. This may be called Starr Avenue Condos and would be built in a current parking lot formerly used by Doctor's Hospital. It'd be an estimated $30 million deal.
Even bigger though is the idea of a
1,000 home neighborhood rising from the Jaeger Commerce Park -- nestled between Spring Street (US 33) the Railroad Tracks, Scioto and 670 -- all just west of The Buggyworks Buildings and at the end of Nationwide Boulevard.
That'd really be something. And within a stones throw of the new Clippers Stadium, Huntington Park.
Secondly, the front page of Section A had an article in the Shop Talk Column regarding the
acquisition of six parcels on Long street just East of fourth by a partnership called Gay Street Condominium LLC, it's about an acre.
The same article mentioned plans for the former Kaiser Machine Works building, directly South of Waterford tower, to be turned into
six townhomes and four loft condos by the developer of Carlyles Watch, Tom Fortin and his Urban Loft Ventures. This goes before the Downtown Commission next week.
That's one week, four potential projects and potentially over 1200 new housing units in and around downtown Columbus. The condo boom is for real. Downtown Columbus, by sheer force of will and market demand, is becoming
THE place to live in central Ohio. Retailers, grocers and entrepreneurs please take note!
Today's Condo Hop
Focused on the Arena District. The folks at Nationwide Realty were very good to us today as we viewed several units in Burnham Square and admired the A&P Building while getting the skinny on the North Bank Condo project.
The Buggyworks left a great impression on all the condo hoppers. Thanks to Dan from Stonehenge Realty who let us in the first re-sale unit in Buggyworks and to Terry Penrod who allowed us in the beautiful unit for Lease.
The Battleship building had two fantastic units for us to take a look at and everyone marveled at the prices for the location. Thanks to Paula and Niels for allowing us to see those units.
Steven Dial and Jim Meyer had us over to see Victorian Gate and we saw the available models there. Today's crowd really enjoyed the third floor 1300 sq ft beauty on High Street.
Thanks to all the Realtors who made it happen and to our wonderful hosts at Cafe Brioso. We had a wonderful group of people today and we all had a lot of fun. It's like a roving party and I hope that future condo hops never lose that festive feeling.
BRINGING PIZAZZ TO GAY STREET
At tonight's city council meeting, we'll learn that a makeover is in store for Gay Street as Council member O'Shaughnessy sponsors Ordinance 2102-2005 to kick off a project to give this important downtown street a new, exciting look.
In addition to converting Gay to
two-way traffic from Front Street to Cleveland Avenue, the City will install traffic calming features, including
medians and bumpouts throughout, and
streetscape features from Front Street to Fourth Street. The $1.65 million project is funded with City bond funds. This ordinance secures engineering services.
nbc4i.com - News - City Installs First Of Red-Light Cameras
nbc4i.com - News - City Installs First Of Red-Light CamerasI was surprised to see how many of the traffic light cameras were being installed downtown. Watch out for the eye in sky, the Bear in the Air . . . .
Cleveland Avenue and Spring Street4th Street and 5th
Avenue3rd Street and Fulton StreetBroad Street and 3rd
StreetSummit Street and Chittenden Avenue4th Street and
Mt. Vernon AvenueBroad Street and Grant Avenue
Gettysburg Road and Henderson Road Fairwood Avenue and
Livingston AvenueCentral Avenue and Sullivant
AvenueBroad Street and Sylvan AvenueBroad Street and 4th
StreetHamilton Road and Interstate 70 westbound ramp
Neil - Tappan Condos
These hit the market today. You know the building, you know they've been working on it and now here they are.
Brick/slate/copper on the outside and granite/wood/stainless on the inside.
2 Bedrooms, 2 1/2 baths and 1700 sq ft including the loft. Each one also has a full basement with new concrete and steps.
There are nine units total and they're around $289,900.
Call me, we'll take a look at them.
Fenway Pines
In not-so-Clintonville-but-darn-close, North of Graceland Mall, there are about 10 buildings with rehabbed apartments cum condos. They all have two bedrooms and they are all at affordable price points ranging from about 123-140 thousand.
There are nine floor plans to choose from, each with two bedrooms, a private patio or screened deck, new carpeting throughout, new ceramic tile in kitchen and the bath(s). Standard items include granite counter tops, new kitchen cabinets, new bath vanities, new lighting fixtures, security systems and stainless steel appliances. You may make color selections for your carpet, granite and kitchen cabinets. You can even upgrade to hardwood with four choices in color. Most units will have in-unit laundry and a one car garage. Every unit has very generous, private out-of-unit storage in the basement. All new forced air gas furnaces, air-conditioners and hot water heaters are being installed, as well as all new insulated windows.
It's convenient to most of Columbus and just think, you could have some sort of a Melrose Place thing going on if you and your friends all buy in the same part of the complex. See them weekend afternoons or call me and we'll go take a look.
North Bank Tower
The tower concept has garnered some serious buzz since the announcement of its impending construction a couple weeks ago.
While there are scheduled to be 88 units, from 1600-2800 square feet, nothing is set in stone at this early stage. The beauty of the tower is that condo homes inside can be configured in a number of different ways.
Nationwide Realty learned from the Burnham Square project that not everyone wants to conform to the floorplans. Why not open a wall here or tear one down there, etc.
Well, with the Tower, you can do darn near anything you want providing you have the money to back you up.
You'd like the whole 14 floor? No Problem. You'd like a Three-Story corner condo unit facing northeast? They'll configure it that way. But get in now, while the getting is good.
Call me.
It's a win-win. You get the space you desire and Nationwide sells the tower out faster, be it 88 units or 72, so long as the space fills up. This is especially good for empty-nester types who don't necessarily want to sacrifice square feet as they downsize. Downsizing chores such as yard work, exterior maintenanceand driving into town to see a show counts too.
Realtor Designations - What do they mean?
Not much really. I don't go around advertising it or putting the initials after my name like a Doctor, but I do possess the accredited buyer representative designation, or ABR (See flashy logo).
I am a big believer in continuing education for Realtors. Real Estate is a profession and I am a professional. As such, I feel it's very important for me to continually update my knowledge regarding my business.If your Realtor doesn't have some kind of designation, they're either so doggone busy buying and selling that they can't update their classroom knowledge or they're just plain too lazy to care.
Where do you stop though? CRS? SRES? CIPS? GRI?You take some classes, you pay some money, you get some more letters to add to the alphabet soup. I am proud of my
Masters Degree in Marketing and Communication though. That took two years and a whole lot of time. I consider it a major differentiator too. I don't think anyone else has a post-graduate marketing degree. I have seen some MBAs though, kudos to them.
So if you are looking to buy a home this year, call me. I am an Accredited Buyer Representative. I have given the extra effort to educate myself and insure that I am representing your best interests as effectively as possible.Obviously I think outside the box more than the next guy, that's why I have these websites and blogs. My saavy could save you money and hopefully put you at ease that you're working with a true professional.
8 on the square flash
You already know there's a 10 year tax abatement on this project but it's a Good thing you read this blog --- Did you know that
All contracts received by 7/30/05 will receive 2 years of condo dues paid by the developer!?That could add up. For example, if you purchased a 946 sq ft one bedroom, one bath unit which of course comes with one parking spot, that'd be a savings of about $7,5000.Call me.
Overall Price Growth Slows, Condos Still Hot
I don't like to post non-Central Ohio Specific numbers and I vehemently oppose the concept a one size fits all "housing market," but:
From the research department of the National Association of Realtors:
February 15, 2006) -- Numerous metropolitan areas showed double-digit annual home price appreciation in the fourth quarter, although the overall pace of growth has cooled slightly, according to the latest survey by the NATIONAL ASSOCIATION OF REALTORS®.In addition, annual appreciation in metro area condo prices was mostly in the double-digit range.The association’s fourth-quarter metro area single-family home price report, covering 145 metropolitan statistical areas, shows a record 72 areas with double-digit annual increases in median existing single-family home prices and only six areas posting price declines.
The previous record for areas showing double-digit price appreciation was 69 metros in the third quarter of 2004.The national median existing single-family home price was $213,000 in the fourth quarter, up 13.6 percent from a year earlier when the median price was $187,500. The median is a typical market price where half of the homes sold for more and half sold for less. In the third quarter of 2005, the annual rate of home-price appreciation was 14.7 percent.
David Lereah, NAR’s chief economist, says the modest dip in appreciation is an early sign of a market adjustment. “Although home sales have eased, the tremendous momentum in price appreciation was sustained in the fourth quarter because tight inventories still favored sellers,” he says. “The good news is that the supply of homes on the market has been trending up and we are entering a period of a more normal balance in supply and demand.”NAR Launches New Condo Series Beginning with this report, NAR is launching a new series on metro area condominium and cooperative prices, covering changes in 51 markets; co-ops are a very small market share and are included with condo data. In the fourth quarter, the national median existing condo price was $228,200, which is 12.3 percent higher than a year ago.
In all, 27 areas showed double-digit annual gains in the median condo price; there were seven areas with declines.“The national condo price is higher than the median single-family home price because there is a high concentration of condos in the most expensive metropolitan areas,” Lereah says. “The data shows that within a given area, the typical single-family home costs more than the median condo price.”NAR President Thomas M. Stevens says the long-term outlook for home prices and sales is favorable. “There is a powerful underlying demand for homes from a growing population, which will keep housing at a high plateau,” said Stevens, senior vice president of NRT Inc.
“The children of the baby boom generation, often called the echo-boomers, are the second largest generation in U.S. history and are just entering the period in which people typically buy their first home. Along with a strong immigrant impact, and the boomers themselves who remain in peak earnings years, this means the need for housing will stay strong over the next decade and long-term prices will continue to rise,” Stevens says.The biggest single-family price increase in the nation was in the Phoenix-Mesa-Scottsdale area of Arizona, where the fourth quarter price of $268,400 rose 48.9 percent from a year earlier. Next was Cape Coral-Fort Meyers, Fla., at $293,100, up 48.0 percent from the fourth quarter of 2004. Orlando, Fla., with a fourth quarter median price of $261,800, was up 42.0 percent in the last year. Most, Least Expensive Areas in U.S. Median fourth-quarter metro area single-family prices ranged from $63,800 in Danville, Ill., to nearly 12 times that amount in the San Jose-Sunnyvale-Santa Clara area of California where the median price was $747,000.
The second most expensive area in the United States was the San Francisco-Oakland-Fremont area at $718,700, followed by the Anaheim-Santa Ana-Irvine area (Orange Co., Calif.) at $699,800.Other low-cost markets include, Elmira, N.Y., the second least costly metro area at $78,800, and Decatur, Ill., with a fourth-quarter typical resale home price of $84,500.None of the areas with price declines had previously experienced rapid price growth. Generally, these were lower-cost areas experiencing one or both of the conditions necessary for temporary price softness – local economic weakness, mainly in jobs, or a large supply of homes available in the local market.As for condo prices, the strongest gains were in the Phoenix-Mesa-Scottsdale area, where the fourth quarter price of $175,600 jumped 50.9 percent from a year ago.
In the Tampa-St. Petersburg-Clearwater area of Florida, the median condo price of $185,400 rose 37.1 percent from the fourth quarter of 2004, while the Honolulu area, at $300,000, increased 36.4 percent. In all, 52.9 percent of the available markets experienced double-digit annual condo price appreciation. The condo price series will be expanded in the future as more data becomes available.Metro area median existing condo prices ranged from $105,700 in Bismark, North Dakota, to $616,800 in San Francisco-Oakland-Fremont. The second most expensive reported area for condos was Los Angeles-Long Beach-Santa Ana, at $406,600, followed by the San Diego-Carlsbad-San Marcos area of California at $390,300.Other low cost condo markets include Rochester, N.Y., at $108,800, and Greensboro-High Point, N.C., at $109,000.Regionally, the strongest increase in the median existing single-family home price was in the West, up 18.2 percent over the last year to $328,500 during the fourth quarter. After Phoenix-Mesa-Scottsdale, the strongest increase in the West was in the Tucson area, at $245,200, up 32.3 percent, followed by Salem, Ore., at $194,100, up 28.3 percent from the fourth quarter of 2004, and Honolulu, at $620,000, up 26.5 percent.In the Midwest, the fourth-quarter median existing single-family home price of $167,600 rose 11.0 percent from the same period in 2004.
The strongest metro increase in the Midwest was in Peoria, Ill., where the median price of $112,700 was 18.4 percent higher than the fourth quarter of 2004. Next was Bismark, N.D, up 16.0 percent, and Danville, Ill., at $63,800, up 12.5 percent in the last year.In the South, the typical existing single-family home price was $185,300 in the fourth quarter, up 9.2 percent from a year earlier. After the Cape Coral-Fort Meyers and Orlando areas of Florida, the strongest increase in the South was in Ocala, Fla., at $161,100, up 41.2 percent from the fourth quarter of 2004. Next was Tampa-St. Petersburg-Clearwater, where the fourth quarter median price of $223,000 was 32.3 percent higher than a year ago, and the Virginia Beach-Norfolk-Newport News area of Virginia and North Carolina, at $220,500, up 31.5 percent.High Appreciation on Gulf Coast “Homes on the Gulf Coast that escaped damage from Hurricane Katrina were in high demand, resulting in strong price appreciation,” Lereah said. The New Orleans-Metairie-Kenner area annual rate of appreciation in the fourth quarter was 29.2 percent, Gulfport-Biloxi was up 24.9 percent and Beaumont-Port Arthur rose 18.8 percent.In the Northeast, the median resale single-family home price during the fourth quarter was $240,300, up 8.0 percent from a year ago.
The strongest increase in the region was in the New York City-Wayne-White Plains area of New York and New Jersey, at $537,300, up 19.2 percent from the fourth quarter of 2004, followed by Reading, Pa., with a median price of $143,200, up 16.9 percent, and the larger region of the New York-Northern New Jersey-Long Island area of New York, New Jersey and Pennsylvania, at $459,600, up 16.0 percent.—NAR
The new Kroger
I checked out the new Kroger off Front Street in the Brewery District recently. It's convenient for me to get to as a regular stop so I did my entire 'real' grocery shopping there. The total wasn't bad for the monthly big grocery bill. They had so many great specials that I bought more than I normally would have.
I was impressed with the structure - it looks great outside and feels fine inside.
I liked the wine selection and the beer selection was decent.
I liked the market section that had everyday household and kitchen needs like pots and pans and utensils and essential furnishings--things you can't pick up just anywhere downtown except maybe a city center department store.
The donatos was a good touch, especially the take and bake aspect. I like that they incorporated a few local food items but overall, it's a typical Kroger food selection. I will say that they had a very decent selection of Latino food items, especially by Goya. I can now pick up my arepa corn meal mix there.
The other thing I liked is the parking -- almost all spots are convenient to the front entrance.
In the end, it's not the Nirvana of all shopping experiences and until they deliver groceries from online orders, it's not the fix for downtown grocery shopping either. It's closer though.
here is a rendering featuring the existing warehouse in the front and the tower in the background. How great would it be to sit in your corner unit and listen to the Clippers game on the radio while watching on your balcony. Of course the North facing balconies pictured here won't get too much sun, go for the southwest ones.
North Bank Park Condos
Wow. A twenty story glass and steel tower with 88 2 and 3 bedroom condos. I didn't see that coming and I thought I was in tune with this sort of thing.
I think everyone thought the A&P warehouse building adjacent to the corner of Neil of Spring would go condo and it will, with 21 1 and 2 bedroom units.
These won't be cheap. Miranova North will have price tags from $300,000s to 1 Million plus for the top floor units in the tower.
Saturday's Condo Hop
was a great success.
Thanks so much to the close to twenty people who came along and learned everything there is to know about these Projects in Downtown Columbus:
The Brunson
Lafayette Lofts
City View at Third
60 Spring
The Terraces
The Hartman
Thanks to all the Realtors and Salespeople who took the time to open their projects to us and answer our many questions regarding these fabulous condos.
The March Condo Hop will feature Arena District and Near Short North Condo Opportunities.
60 Spring
This exciting project is on the Condo Hop Saturday and I just wanted to throw out there something I didn't know about the condo fees. The fees, range from $145-170 and include Time Warner cable, natural gas,
gym membership to World’s Gym, convenient trash removal on every floor, concierge service, security, maintenance, etc...
One parking spot per condo is included in the price. Parking is underground, secured with elevator access to the floor of your home. An additional parking spot can be purchased for $7500.00. Stackable washer and dryers are also included. They have a beautiful urban garden courtyard as well as a rooftop common area accessible to all residents and tenants at Sixty Spring. They're also tax abated 100% for 10 years.
Hope to see you on Saturday at 10 AM at Cafe Brioso for February's Condo Hop.
Speaking of Bexley Condo Projects, One Dawson Place is looking fantastic. I was in the building before the exterior walls were up and I can tell you the views from the 3rd and 4th floors are quite nice. Work is going well on the insides of these units and I do believe that there are about 4-5 left for sale.
The Bexley Gateway Project at Main and Parkview has really sprung up out of the ground recently. In the background is the commercial/retail aspect of the project that fronts Main Street. It is amazing how quickly progress seems to go when the steel is up. I imagine many builders around town may be slightly ahead on their projects since the winter weather has been so mild and the ground has not frozen to date.
On Parkview, there will be 31 luxury condos, townhomes and penthouses. It breaks down like this:
PARK THREE AT BEXLEY GATEWAYExclusive Brownstone Condominiums ~three traditional four-story, brownstone-designed condominiums with rooftop terraces, secure garages and private elevators - just north of Bexley Gateway on Parkview.
THE ALEXANDER AT BEXLEY GATEWAYAn Elegant Five-Story Condominium Complex ~an elegant five story 31 condominium within a five-level midrise including private balconies, state of the art fitness center, club room for entertaining and two card rooms, concierge lobby service - just north of Park Three on Parkview.
Some time this week there will be an anouncment of sizes, costs, fees, etc. I have heard the presentation on this project from the developer and it does sound very first class. Soft reservations are being taken as we speak for about $1900. Please give me a call if you have any interest.
February 11th condo tour
Only ten days away, the inaugural condo hop steps off from Cafe Brioso at ten AM sharp.
We will be seeing, not necessarily in this order:
- Hartman Lofts
- Terraces on Grant
- 60 Spring
- Brunson Building
- Lafayette Lofts
- CityView at Third
More news to come later. Please make sure to show up early because we will be on a somewhat tight time line. Please call or email with any questions.
-No, you don't need a car, just come on down and make sure you purchase a cup from our great hosts at Cafe Brioso.
Eight On The Square
Yes, that's the project at the corner of Broad and High which could use Grandview's Heights Project's line "Life at the corner of everything," more effectively since this is the corner widely considered to be the middle of all things Central Ohio.
At any rate, the update is that it has now been completely gutted and one can see the space much better.
Units will have, "1,400 (half floor) to 2,800 (full floor) square feet and offer spectacular views of downtown and the Statehouse. A first-floor lobby will connect the building to the adjacent commercial building to be constructed on North High Street."
In appearance, it will slightly resemble the Brunson Building down high street but with the Balconies facing West, over the "Times Square" style commercial building with the screen and ticker. (Which of course is going to be hard to get used to here in Ol' Columbus, Ohio.)
Welcome to the Columbus Condo Blog
I've decided to start a new blog devoted soley to the condo market. Many people come to
Central Ohio Realty Notes to learn about home buying and I've heard that they aren't interested in the latest news on Columbus condos for sale.
So here it is. I will share many posts between the two blogs but condo specific information will go here when I post it.
Be sure to visit
Cowtown Condos where you can search and find your Columbus Condominium.
