2021 CENTRAL OHIO HOUSING ACTIVITY BREAKS RECORDS Fervent buyer demand in central Ohio, driven by pandemic-induced changes to housing needs and preferences, reached extraordinary levels in 2021. This increased competition for homes resulting in multiple offer situations which drove prices significantly higher for the year. As a result, home prices and sales reached record highs […]
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Ohio First-Time Homebuyer Savings Act
A coalition of Ohio real estate and financial organizations have joined forces in support of Senate Bill 24, Ohio’s First-Time Homebuyer Savings Act. The legislation, SB 24, introduced by Sen. Theresa Gavarone (R-Bowling Green) and Sen. Bob Peterson (R-Washington Court House), would authorize a first-time homebuyer to open a tax-deductible savings account to which a […]
Hundreds Of Thousands At Risk Of Losing Your Home As Forbearance Program Expire
Pandemic-related mortgage forbearance programs are expiring, but hundreds of thousands of homeowners continue to struggle with payments. When loan modifications fail to help, distressed homeowners may find themselves at risk of foreclosure. Pandemic-related aid allowed financially struggling homeowners to miss their house payments for, in some cases, up to 18 months. But as those programs […]
What Is a Shared Equity Mortgage
Shared equity programs can provide an excellent opportunity for affordable homeownership. They’re often run by government or non-profit organizations to provide first-time or low- to moderate-income buyers access to housing at prices substantially lower than otherwise available in a market. Several types of shared equity programs are available, but they usually include a requirement that […]
Columbus Ohio Housing Market Report – August 2021
Homes Continue to Sell For More Than List Price Unusually high demand for homes in central Ohio and a lack of sufficient inventory has resulted in homes selling for more than the asking price for the past couple of years, however, competition for homes on the market is showing signs of lessening, which could provide […]
Columbus Ohio Housing Market Report – July 2021
More Inventory, Fewer Sales. For the fourth consecutive month, the number of new listings in central Ohio increased by over 20 percent. Over the past few years this type of double-digit increase in new listings would have been accompanied by a corresponding increase in home sales, however, this wasn’t the case in July. There were […]
How Tax Reform & Inflation Might Impact Real Estate
Potential tax reform and rising inflation may slow down the booming housing market. Assessing the proposed tax legislation and current market conditions will help you plan for what’s next. Right now, trying to predict the impact of federal tax changes on the residential real estate market is a guessing game. Since no bills have been […]
What Do Housing Experts Forecast For The Second Half Of 2021?
As we move into the second half of the year, questions about what’s to come for the housing market are top of mind not only for buyers and sellers, but homeowners as well. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021 […]
Is the Housing Market Heading for a Crash?
The housing market has been one of the strongest parts of the U.S. economy during the coronavirus pandemic but are rapidly rising home prices a warning sign of a real estate bubble? Could the U.S. housing market collapse as it did 14 years ago, triggering a severe recession? Talk to almost any real estate agent or housing […]
Is Homeownership the Key to Wealth Accumulation?
Yes… especially if you do it right. Unfortunately, most people don’t. Let’s see if I can give you a different perspective on home ownership. Imagine you’re 25 years old. You’re done with school, working a job (hopefully in your desired field). While you aren’t making anywhere near the money you want to be making just […]
