The central Ohio housing market remains highly competitive as strong demand continues to outpace supply. Although the number of residential homes and condominiums for sale during the month of September 2020 was slightly ahead of the month prior by 2.0%, it was 48.9% below the number for sale during September 2019. Almost 3,500 homes were […]
The housing market continues to outperform historical standards as home prices continue to rise and homes continue to sell at a fast pace. Sellers are definitely calling the shots in today’s market however, two housing indicators may forecast a coming turn in the market. Housing demand from buyers has cooled slightly, while new listings showed […]
A June surge in the share of mortgages 90 days or more overdue is a signal the U.S. could be heading toward a foreclosure crisis, according to a recent report from CoreLogic. The share of mortgages with payments 90 days to 119 days late quadrupled between May and June, rising to 2.3%. This represents the […]
More buyers are making concessions to win bidding wars amid a deepening housing shortage, record-low interest rates. The pandemic and high unemployment rate haven’t slowed the housing market, and rather home buyers are facing heightened competition for a limited number of homes for sale. In an effort to make their offers more competitive, many have […]
Zillow has announced a partnership with homebuilder D.R. Horton (Locally Westport Homes), allowing buyers of new construction homes to sell their current homes directly to Zillow through its iBuying solution, Zillow Offers. D.R. Horton customers selling their current home through Zillow Offers receive an extended closing timeline of up to eight months, and the flexibility to modify the closing date to better […]
In spite of the pandemic, new residential construction is booming in Central Ohio. According to the Census Bureau, 16.4% more single family building permits were issued since the same period last year. This chart shows the numbers for January to April. May values are not available yet. New Construction for First-Time Buyers This is good news for buyers […]
While FHA FICO score requirements have not changed during the COVID Crisis, some FHA mortgage lenders have increased requirements following the uncertainty caused by the pandemic. For those interested in applying for an FHA loan, applicants are now required to have a minimum FICO score of 580 to qualify for the low down payment advantage, […]
Live Well Every Day Founders Ed Bacome and Phil Fankhauser began Epcon Communities in Dublin, Ohio, in 1986, when they tapped into an overlooked segment of real estate—the maturing homebuyer. Today, based on a mission to combine innovative home design with myriad amenities, more than 26,000 families and individuals live in an Epcon community. With […]
Alton Place, a proposed 354-acre mixed-use development in Hilliard has been approved to move forward. After carefully reviewing the latest iteration of the project, one which has been in the works for nearly three years, Hilliard City Council voted 6-0 to approve the development agreement for Alton Place. The nearly $300 million “generational” development will […]
Getting a mortgage, paying your mortgage, refinancing your mortgage: These are all significant undertakings, but during a pandemic, it all becomes more complicated. Sometimes a lot more complicated. But make no mistake, home buyers are still taking out loans, buying homes and refinancing mortgages during the current global health crisis. There have, in fact, been […]
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