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

This 4 bedroom Chaucer Ct Home sold for $279,900 in late November

Homes on the market: 99 Active Worthington homes for sale.

Averaging 1,842 sf,

• $235,680 ( just under 2/3 are below this average list price (!) Wonder Why so cheap? see below)
• $127/sf and
• 131 days on market.

What happens if you take condos out of the equation and focus only on single family detached homes?

68 Active Single Family Homes for sale in Worthington, Ohio

• $284,386
• $137/sf and
• 129 days on market.

Worthington Homes in contract with escape clauses:

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

Worthington Homes in Contract contingent on financing/inspections as of today: 30

• Averaging 1912 sf
• $244,796
• $134/sf
• 106 days on market

All Worthington Homes Closed since October 1, 2009: 66

• Averaging 1798 sf
• $212,894 avg List but a $201,867 Sale price or 96%
• $122/sf
• 73 days on market

Single Family Worthington Homes -No Condos- sold since October 1, 2009: 47

• Averaging 2018 sf
• $245,856 avg List but a $233,260 Sale price or 96%
• $130/sf
• 63 days on market

Interesting Note: 25 Fox Lane, a home that I’ve been enamored with this year, Sold just before Thanksgiving for $630,000. The home sits on the Olentangy River and is on a big lot with 5 bedrooms, 4.5 baths and 4900 square feet including a somewhat new “pub” room. It was listed in early June for $969,000 and the time of going in contract was listed at $750,000.  The house sold in September 2007 for $900,000. 2008 taxes were $15,226.

PERSPECTIVE: In the same time frame one year ago, 34 –almost half as many–Single family homes sold for an average $234,668 or $123/sf and were on the market 89 days. Did the first time home buyer tax credits (combined with historically low interest rates have an effect on Worthington Real Estate Sales this year?  Judging from the above, yes, a significant effect as the original time frame for closure of that credit loomed on November 30. More people were buying and they were getting better deals this year by about $7/square foot. There were also more homes on the market this year-thereby supporting that doubling of sales-as especially South Worthington Sellers moved up and out of their smaller homes.

From April through August (the so-called ‘prime’ selling season) of this year, the average single family home in Worthington sold for $215,705, or $127 per s.f., after 70 days on market.

Joe Peffer is a Realtor who works in Worthington and other Columbus area Neighborhoods and first ring subburbs.

Would you like me to break it down by homes vs condos or Riverlea vs Olde Worthington, Colonial Hills vs Olentangy Hills? email me and I will be glad to.

This update is for Worthington specefic homes, ie inside city limits. You could live in Columbus and still be in the Worthington School District. In fact, you could live in Powell, have a Columbus Mailing address and attend Worthington schools.

Real Estate Taxes vary by School District. Where in Franklin County Do you Live?

EDIT: 12/17/2009 Please see the end of this post for a clarification and correction of any inaccuracies from the Franklin County Auditor, Clarence Mingo.

If your home has been re-valued by Franklin County recently, you probably received a notice in the mail regarding the new property tax. Per the Ohio revised code, Franklin County appraisers review property after a sale and/or every three years or so.

If you receive a notice, you’re no doubt glum about having to pay more real estate taxes to Franklin County. When you realize that the tax increase is for the ENTIRE 2009 year retroactively and that the tax bill you get in December for the January 1- June 30 tax cycle will reflect the increase and be based on this new value, you’re downright hot under the collar. What to do? Where to turn?

First, stop and consider if the new value is reasonable.  After all, if Franklin County is saying your home has appreciated in value, that’s a good thing isn’t it? Isn’t that, in part, why you purchased a home – to build equity?

Not buying that? OK. Here is everything you should know about appealing your Franklin County Tax Increase:

• Everything you need to contest the tax increase is available from the Franklin County Board of Revision site, here.
• Make sure you fill out the forms accurately and completely because the Ohio Supreme Court says a complaint MUST be dismissed if it is not completely filled out.
• You will need to sign your appeal in front of a Notary Public.
• If the property

was purchased after January 1, 2009,you will need to include a copy of the closing statement (3 pages), the purchase contract, and the deed with the appeal form.

Appeals to your Franklin County tax increase must be filed between January 1 and March 31. You can call down to the Franklin County Board of Revision (The best phone number is 614-462-HOME (4663)) and ask what properties were used as comparables for the new value (remember that their appraisers don’t just pull the new tax value out of the air). These will tell you something about wether or not your increase has much viability for an appeal. For example, let’s say you live in Hilliard and the comps the County Appraiser used included both of your next door neighbors whose homes are exactly like yours. That’d be a small chance for appeal.

While you’re assembling any paperwork to take to your hearing, call me for the most recent comparables in your neighborhood and I’ll see what I can find that might help your case. I’ll also tell you if I think you just drop it and suck it up because your home may be worth even more and maybe you shouldn’t call attention to it right now.

There has been lots of talk this year about how far behind many Franklin County Offices are, especially in regard to filing deeds and especially in the case of filing deeds via sheriff sale. The Board of Revision, while not ready to hear your case today, isn’t too far behind in the overall scheme of things.

Consider that there were 6700 complaints filed regarding 2008 tax increases and that the Franklin County Board of Revision is a three member office and that they can hear about 32 cases per day. They’ve even added an extra panel so that cases can be heard simultaneously. Still, your absolute best case scenario is an April 2010 hearing on an appeal you file in January of next year (and, remember, you can’t file before that).

To answer a couple obvious questions…

• Yes, you have to pay your next or pending Franklin County Real Estate tax bill according to the new amount while you’re waiting to hear about an appeal date.
• If you have a hearing before the end of June and it turns out you’ve overpaid, you’ll likely have the overage applied to the 2nd half taxes.
• If you have a hearing after that (and let’s face it, most of you will) chances are the overage will be returned to you.

How long do you have, after the purchase of your home, before the real estate taxes will be increased to reflect the new purchase price? It depends on lots of things but you should plan on them being increased right away. In fact anyone considering a home purchase should estimate the new taxes based on the purchase price (HERE is a handy calculator that does just that) and feel comfortable with that number on top of your pricipal, interest and insurance each month.

You should realize that you were probably pre-approved for your mortgage based on the pre-purchase taxes and You should expect it to take somewhere between 3-12 months, sometimes longer, before you hear anything about a tax increase.  It’s not so much the county as the local Columbus School District where you bought your home that wants your tax dollars increased and they may, in the case of multi-family or commercial properties, file for an increases based on your purchase prices.

VERY IMPORTANT, PLEASE CONTINUE READING: Dear Joe, I have read with interest your post yesterday regarding the appeal of real estate taxes. The article does a fine job of outlining the thought process owner’s should follow when deciding whether or not to appeal. There are a few factual matters, though, which I would like to address:

• The appeal is filed against the valuation of the property, not the tax amount. There are two components to the calculation of tax, the tax rate and the value. Only the value may be appealed to the Board of Revision. The tax rate on the other hand is set by the voters and may not be challenged.

• The notices which were recently mailed were notices of the change in value, not tax amounts.

• It is not only the Columbus Schools which actively file complaints against values. Virtually all school districts participate in the Board of Revision one way or another. Still, very few school districts file complaints against owner-occupied residential values, limiting their filings to commercial, industrial or investment properties. Therefore your home buyers have little to fear from the school districts unless the home owner initiates a complaint requesting a reduction in appraised value greater than $50,000 (or $17,500 assessed value). The Board of Revision is required to notify school districts of decrease requests of such magnitude and the school district may then elect to become a party to the complaint.

• On an annual basis the Auditor examines only approximately 5 percent of residential sales, those which have significant differences between their selling price and the auditor’s value. These property values may be subject to adjustment either up or down if needed. All other sales are verified and utilized by the Auditor to establish values for all county properties in each three year adjustment cycle.

• The best phone number to give to clients is 614-462-HOME (4663). Our Public Information staff is highly trained to handle tax-payer inquiries. Thanks so much for your kind and supportive words regarding our processes and staff and our hats are off to you. Keep up the great work! Sincerely, Clarence E. Mingo II Franklin County Auditor

'Tis the Season to Purchase your Next Home

The original 1st time home buyer tax credit was set to expire on November 30, 2009.  During the week of November 23-30, 2009, 1st time home buyers in Columbus and surrounding communities racked up 577 Central Ohio Homes Sales.  That’s up 41% from same week last year.

Was the original 1st time home buyer tax credit a resounding success in terms of getting buyers into homes? I think that 41% increase says yes. You’d have to look beyond the face of it though. How many of those buyers would have bought a home anyway?

Interest rates these last two quarters have been hovering around historic lows–that should be enough of an incentive to get most buyers off the fence. Most of the first time buyers I worked with this year would have bought anyway and were maybe just a little more motivated by the tax credit which was seen as icing on the cake of homeownership.

Also, how many of those Columbus area homes purchased by 1st time buyers were Columbus short sales or Columbus foreclosures? I don’t think Central Ohio has seen the anticipated cause and effect relationship  the tax credit was supposed to begin–namely, noticeable increases in 2nd time buyers moving up into more expensive homes and so on. The tax credit buyers were supposed to start a domino effect of trickle-up housing economics and while there did seem to be a plethora of first time buyers out there in Columbus, higher end housing-let’s say $400,000 and up-hasn’t felt the anticipated repercussions of that boon.