Conventional wisdom around the country is that Buyers care less these days about getting the biggest house they can buy with their money and more about getting a house that’s just right and suits their needs.  It’s been said that Buyers are looking for greener options and homes that are more economically friendly to heat and live in on a daily basis. It’s not a new phenomena and I’ve written about it before.

Over the last Sixty Days in Columbus, the average square feet of  the 761 homes that sold was 1,550 and the median was 1,410 square feet. In the same time frame Ten years ago, the 1,419 homes that sold (!wow, nearly twice as many homes in the same period!) averaged 1447 square feet.  So maybe the average Columbus home that has sold on the market has gone down by about 100 square feet over the last ten years. It’s Columbus so many of the homes are in older established neighborhoods and the amount of room inside those homes is what was when they were built 20, 40 80 years ago. Ditto with inner ring suburbs like Bexley, Grandview and Worthington. These communities aren’t building tons of new homes which would be an interesting way to track Columbus Homebuyer requirements but they obviously offer bigger and smaller homes. A more detailed look into Columbus Home Buyers’ preferences over the years may tell us more than this cursory information but this post is more to get you thinking than it is stocked with data.

On Sunday I held an open house at my listing on 1224 Fair Avenue in Olde Towne East. It was the first open house we have had and it generated somewhere between 150-200 visitors.  Of course, it helped that the Olde Towne East tour of historic homes was happening around it on that day and that the garden next door was on the tour.

Even before I closed up the Open House -which was dated to sometime between 1900-1910, I had this email from one of the day’s visitors…

“I went through your open house today on Fair Avenue.  I got home and poked around in some online sources and thought you might like to know  for your marketing purposes that the house WAS around as early as 1900 (Thomas M. Lilley – the original owner is listed as living there in the 1900 Census).  He and his wife Ida lived there with her two parents and a servant.   Sometime between 1910 and 1920, they moved to Los Angeles, but must have maintained the residence here in Columbus.   They had two sons, but neither made it past a year old.  The entire family is buried at Greenlawn.   Thomas is listed as a bookbinder, the superintendent of the State Book Bindery, and as an insurance salesman in California.   No clue if that’s of any interest to you, but I always like to know who built the houses!  Good luck with your sale!”

I was amazed that he was able to go into so much detail in so little time — Thanks Hal!  Currently the best place to research your home is the 3rd floor of the Columbus Library (which, by the way, was built by the same person who built and lived in my house!). Maybe some day soon I will do a post about researching your Columbus home’s history.

The Original Clintonville Charmer. 79 Acton sold in 1996 for $145,545

You’d be amazed how often I read the remarks on a new listing, check out the history of the listing in the Columbus MLS, and find the EXACT same remarks the previous agent used. It’s uncanny. Sometimes the remarks are in the entirety, sometimes it’s most of the old remarks with a few fresh ones thrown in or maybe it’s simply an obviously borrowed phrase from a past listing.

The whole idea simply proves my point about how unoriginal and lazy many real estate agents are — and I’m not even talking about maximizing views of the home in front of potential home buyer’s eyeballs (i.e. marketing).

Every once in a while you find a phrase that sticks through the years. “Clintonville Charmer” is one in particular. It was in the description of a home that came on the market today in the 500 block of Acton and it got me thinking about how over-used some descriptive phrases are in the Columbus MLS, “Charmer” being one of them.

The phrase Clintonville Charmer has been used to describe a home for sale in Clintonville 145 times since the inception of the modern Columbus multiple listing service. Most recently today. The earliest recorded use of the phrase seems to be on another Acton house -79 Acton Pictured Above- on the market 13 days in May and June of 1996 before selling for $145,545.

Anatomy of a Clintonville Charmer:

4 Active Clintonville Charmers averaging 1,728 sf listed at an avg of $154.25/sf

117 all time Sold Clintonville Charmers averaging 58 days on market and 1,455 sf

2 Clintonville Charmers that are in contract currently for $148/sf on average and both, coicidentally, on East Pacemont

I look at listings all day long and see some doozies. What descriptions of Columbus homes for sale have caught your eye over the years?

It's all part of constructing a better Real Estate Brokerage Model

If there is anyone out there in Central Ohio still considering the purchase of their first home, now is the time. I am not a cheerleader type, especially for the same sort of party line that all real estate agents are eschewing right now.

That said, the truth is, there’s never been a better time to buy your first home. Interest rates are at historically low levels and thought to be increasing soon. Housing stock, even at this time of year, is plentitful and growing and less expensive than it may have been a couple years ago.

And, oh yeah, there is an $8,000 tax credit for first time Buyers and a $6,500 tax credit for Sellers. There’s never been a better time to buy your first home. Until now.

Delicious Real Estate is rebating cash back to all buyers.

• $1,000 to Buyers of homes $135,000 and over
• $2,000 to Buyers of homes $235,000 and over
• $3,000 to Buyers of homes $335,000 and over

Just like the tax credit, this offer only extends to any buyer who is in contract on a home by April 30, 2010.  Unlike the tax credit, this offer is not limited to first time buyers, rather it is open to any buyer.

*Buyers must be pre-approved by lender of choice.

*Homes must be in Franklin or contiguous Counties.

*The rebate will mentioned in the purchase contract for the home and listed on the settlement statement as required by state law.

*You must know the secret password which means you read to at least the middle of the post. The secret password is “Go Clippers!”

*Call, email or stop by for more information

Why am I doing this?

1. I’m driven to prove that a better buying and selling experience is possible for less.
2. I want to get the Delicious Real Estate name out in the world more than I have in the first year of the Firm’s existence.
3. I’m concerned about potential negative impacts on our local market of FHA changes and the end of the tax credit and think that the last 3-4 months of 2010 will be very slow.
4. I’m already considering the idea of rebating. It’s part of my client-centric philosophy.
5. The first quarter is typically a bit slower than the 2nd or 3rd quarter of the year.

This book has spawned an entire 'Not so big' lifestyle movement

The average American home has grown over the last 30 years from 1,645 square feet to 2,219 sq ft while the number of children families are having has decreased over the same time–as have lot sizes.

How much space do you need for the way that you live? In addition to being  more expensive, is it somehow unethical to buy more home than you need ?

The average (of 5,902) Columbus single family home that sold in 2009 was  1,515 SF which speaks to the age of most Columbus homes. Expand that to Franklin County(10,746 homes sold in Franklin County in ‘09) and the average square feet jumps to 1,762.

Americans like a little elbow room. They also enjoy trading up…homes, cars, jobs.  Sometimes keeping up with the neighbors means moving away from them to get a bigger house. But how big is too big? Is there even such a thing?

In my experience, most Homebuyers have eyes that are bigger than their pre-approval–not neccisarily for more house as much as nicer house – in better location. The big beautiful house, especially in historic parts of Columbus and even the fixer-upper, is attractive. What’s wrong with wanting a big house? Nothing. What about the resources used to heat, cool and maintain that bigger house?

Is largess simply a suburban phenomenon? In Deleware County, the average home sold last year was a whopping 2,642 square feet. When Buyers say they want more for their money, they want more — more house, more upgrades, more yard, more finished basements and yes, more square feet. It’s as true in Clintonville as it is Grandview or Upper Arlington, or German Village or Bexley.

Really, can you blame them? You need some space to hang a flatscrren, to play Wii, to have a dog, to have a bedroom for each child–some with their own bathroom. There can be a deep satisfaction that comes with surveying all that is yours and knowing you’ve achieved this much house. I think, though, that there is a small but growing contingent that wants the not-so-big house.

Buyers want the house that suits their needs. Cozy may translate as ‘tiny’ in MLS Agent Remarks but let’s face it, our lives are busier than ever so why not concentrate more time and money with the family than the house? Even a perfectly small house could keep you busy day and night as you make every nook and cranny sparkle and work for you. The whole Simply Living craze is real. More and more people want to enjoy their house, not worry about furnishing the ‘bonus room’ or heating the grand 2-story foyer.

There is no right or wrong. The house you want is the house you want. In the end you’re like Goldilocks, the home you buy is the one that is ‘just right’ for you.

Which way are Columbus Mortgage rates going?

It’s hard to imagine that mid December of 2009 wasn’t a potential bottom point for Columbus Mortgage rates. Today, the best rates are somewhere around 5.125% and as the economy improves (or at least as we’re told it is improving) the rates will rise.

If you plan to buy this year, I would do it sooner rather than later. I’m reading a lot of predictions about year-end 2010 rates in the 6’s.

Don’t just take my word for it….From Reuters the the other day….”The U.S. Federal Reserve will have to raise interest rates as the economy improves or risk losing the public’s confidence in its commitment to keeping inflation low and stable, a top Federal Reserve policy maker said on Tuesday.

Charles Plosser, president of the Philadelphia Federal Reserve Bank, said expectations for future inflation are currently “well-anchored,” but warned that there is “considerable uncertainty” clouding the outlook for price pressures over the next two to five years.” more.

This 1248 sf 3 bed, 1.5 bath cape cod on Meadow Rd sold this year for $176,500 after 12 days.

As first time home buyers get pushed farther away from the city core, despite many wanting to be as close to it as possible, areas like 5th by Northwest become more and more important to the city’s fabric. Often written off in the past as a motley collection of University View rental homes and Grandview Heights wanna be’s, 5xNW as its called, has an area plan from the City of Columbus and is starting to receive a little more notice.

Let’s face it, 1st time home buyers are priced out of Grandview and if you could live within Walking Distance to attractions on Grandview Avenue and own your own home, that’s a nice thing. Yes there is heavy rental in the area but it is conveniently located and worth a look.

This update applies to the relatively small area generally bounded by Third Avenue on the south, Glenn/Wyandotte/Northstar Roads on the west, Kinnear Road on the north, and Kenny/Olentangy River Road on the east.  Windgate Village and Somerset Square condos fall in here.

Homes on the market: 8 Homes and Condos for sale today

• $148,097
• $148/sf and
• 100 days on market
• HOMES ONLY – 3 Listings, 2 small ones on Sells Ave and 1576 Meadow Rd, a 3 bed 2bath for $269,900

5 x NorthWest Homes in Contract contingent on financing/inspections as of today: 1

• 1735 Hess Blvd has 1110 sf
• $159,900
• $144/sf
• 52 days on market

Greater Short North area Homes SOLD THIS YEAR: 36

• Averaging 1034 sf
• $147,690 avg List but a $142,322 Sale price or 96%
• $137/Square foot
• 50 days on market — (very tidy)
• HOMES ONLY – 20 @ $160,665, 1125 sf – $143/sf – Only 38 DOM

The Most expensive home sold so far this year was 1624 Ashland Ave, a 1600 sf 3 bedroom, 2.5 bath that sold for $216,000 after 65 days on market but was listed at $259,000.

Joe Peffer is a Realtor who works in 5xNW, Grandview, Upper Arlington and other Columbus Neighborhoods.

Would you like me to break it down bycondos vs single family? email me and I will be glad to

This 2 bed, 2.5 bath 1,634 sf home on West Second in Victorian Village sold recently for $296,000 after 16 days

This update includes all of the near North from Nationwide Blvd to approximately King Avenue

Homes on the market: 166 Greater Short North Homes and Condos for sale today

• $282,494
• $199/sf and
• 285 days on market – see below
• CONDOS ONLY – 123 Listings, $276,752 1323 sf, $215/sf, 341 DOM*
• HOMES ONLY – 43 Listings, $303,122 – 1959 sf – $160 sf – 144 DOM

*The current Active Short North condo market is littered with unsold, long time listings From Harrison Park and Ibiza which skews both days on market and average list price.

Greater Short North Homes in contract with escape clauses:

None – No Homes you could still, conceivably, swoop in and buy

Greater Short North Homes in Contract contingent on financing/inspections as of today: 25

• Averaging 1422 sf
• $291,509
• $225/sf
• 103 days on market
• CONDOS ONLY – 20 w/ avg of $292,206, 884 sf, $236/sf, 100 DOM – Most of these are (still) in The Jackson
• HOMES ONLY – 5 with an avg of $288,720 – 1669 sf – $181/sf – 105DOM

Greater Short North area Homes in firm contract as of today: 1

• Averaging 1168 sf
• $124,8005
• $107/sf
• 40 days on market – 141 W 2nd Ave

Greater Short North area Homes SOLD since Oct 1, 2009: 30

• Averaging 1553 sf
• $233,015 avg List but a $225,513 Sale price or 96%
• $165/sf (down $8/sf over last quarter)
• 103 days on market
• CONDOS ONLY – 12 @$206,108, 1324 sf, $198/sf, 171 DOM – Nicely spread out
• HOMES ONLY – 18 @ $238,450, 1681 sf – $147/sf – 57 DOM – about 2 weeks less than Q3

The Most expensive home sold so far in Q4 2009 was 448 West 2nd in Harrison West. A 4 bedroom, 3.5 bath 2-story built in 2003, it sold for $362,500 on Dec. 3 which was 94.2% of the $385,000 list price.

One of the least expensive homes this year at 951 Hunter is in contract listed at $114,000. It is a 636 square foot cottage with one bedroom that is bank owned and had multiple offers. The inside of this home had been updated recently and it had sold for $159,000 in May of 2004.

Joe Peffer is a Realtor who works in Victorian Village, the Short North, Italian Village, Harrison West and other Columbus Neighborhoods.

Would you like me to break it down by Victorian Village vs Italian Village or just condos? email me and I will be glad to