Real Estate Information Archive

by Erin LaBuda

Another spring is upon us here in Central Ohio and after last weekend's blizzard, this resident feels that it can't come a minute too soon.  So, as the warm weather approaches, I am getting more and more excited at the prospect of sitting on the patios downtown, going to outdoor festivals and concerts and enjoying Gallery Hop without having to bundle up.  However, the one thing that I will not be excited about (as I have always been when traveling to the Short North area) is finding where on earth to park.

After doing a little research, I uncovered all of the places where we non-permit parkers are allowed to park in the arts district (for a fee, of course).

Meters are available:

• The length of N. High Street from Nationwide Blvd. to Fifth Ave.
• On Park St. from Buttles Ave. to Vine St.
• On Goodale St. west of Park St. bordering Goodale Park
• Around the North Market.

City lots are available:

• 630 N. High St. by Union Station Video Cafe
• N. High St. at E. Lincoln St. across from RJ Snapper's and Rigsby's
• N. High St. at E. 2nd Ave. across from The Lamp Shade and Counter Culture
• 1155 N. High St. by Skully's.

Garages and additional parking are located at:

• Columbus Convention Center on Goodale St. east of High St.
• OSU South Campus Gateway at 11th and High Streets
• 775 N. High Street behind Axis Night Club.

If you plan ahead, wear the right shoes and know where you are going to park, you can save yourself time and frustration by not driving around in circles in hopes of finding an open meter in the heart of the District.

For more information on the Short North in Columbus, visit www.shortnorth.org.

We are excited to announce that Newbury Builders has selected The LaBuda Advantage Team to help them market their stunning new patio homes in prestigious Lindsey Woods.  These top-quality homes offer open floor plans, two-story Great Rooms with fireplaces, gourmet kitchens with granite counters, first-floor master suites with luxurious bathrooms, basements and much more.  Details including hardwood floors, ceramic tile and crown molding are standard and many other options are available as upgrades. 

Newbury Builders has five floor plans from which to choose ranging from a ranch to a 3,300 sq. ft. two-story home.  There are many opportunities to customize each plan or to build your own dream home using Newbury as your builder.  There are a limited number of lots on which to build, so don't wait or you may find your favorite one is gone!

Many Worthington-area residents have told us that they are ready to move into a home that would better suit their lifestyle.  First-floor master suites, Great Rooms, open kitchens and little or no yardwork are often mentioned.  Some are considering condos, but many would prefer a detached home and most would like to stay in the Worthington area.   Unfortunately, there are only a handful of new or newer patio homes in this area due to a limited amount of land for development.  That's what makes Lindsey Woods so desirable -- luxurious, easy-living homes close to everything and everyone you enjoy in Worthington!

So please stop by and visit our beautiful furnished model home at 899 John Michael Way.  The model will be open every Saturday and Sunday from 1-5 p.m. beginning March 9th.  If you need directions, call us at 614-431-9111.  We hope to see you there!

by Lynn Nadler

Earlier this month I attended to annual Worthington Groundhog Breakfast, in which community leaders outline the highlights of the previous year and discuss the prospects and challenges for the coming year.  The new City Manager, Matt Greeson, who was the primary speaker, presented the following accomplishments:

2007 Accomplishments

• Numerous street improvements
• Completion of the Old Worthington Ramp Project to comply with the American Disabilities Act
• "Green" initiatives -- namely making Worthington a more walkable, bikable, bus-friendly community, installing a community garden and encouraging year-round access to locally grown food with the expanded Farm Market
• Parks & Rec "Go Play" initiative to promote healthy lifestyles
• Restoration of the Olentangy Parklands
• Receiving a "Smart Community" designation for recycling

Challenges for the City

• An aging population - 53% of the residents of the city of Worthington are over age 45
• Aging housing stock - very little land remains for building new homes
• Population decline - down 7.3% in 2007 - due to fewer residents per household
• Economic Growth

New Opportunities for the City

• Health and wellness programs at the Griswold Senior Center
• Neighborhood Grant Programs to revitalize neighborhoods and target new leaders
• Division of Police Citizens Academy
• The Peggy R. McConnell Arts Center
• Property Development -- CVS building, Jason's Restaurant, Worthington Station, Kroger expansion
• Indoor Winter Farmer's Market at the Griwsold Center
• Business Development -- Road Runner sports and Waterworks

Future Projects for the City

• Olentangy River Road planning
• Historic District designation
• I-270/23/315 Interchange Projects

The outlook for the city fo Worthington is very good and the city is moving in a positive direction.  Matt Greeson is looking forward to steering the city in these and other future endeavors.

by Jennie LaBuda

"Staging" a home for sale is simply preparing it for sale so that it makes the best possible first impression on buyers.  This can involve everything from a thorough cleaning to painting and furniture re-arranging, but the idea is to make the buyer fall in love with the home and picture himself and his family living there.

Staging seems to be quite difficult for many people because, for the first time, the homeowner must work to make his home somewhat impersonal.  Up to this point, he has spent lots of time and money making the house reflect his personality and tastes and now, he needs to do just the opposite.  Although it may seem like a daunting task, it is important that he focus on the new journey that he will take by moving on from the old home to the new one.

Despite the difficulties of letting go of the past, if a seller is truly dedicated to the goal of moving into his future home, it is key that he focus on the task at hand: staging.  Here are a few tips for sellers to help them prepare their home for sale:

• Curb Appeal - It is essential that a home look its absolute best from the outside.  People who pass by the property or see the home's picture online or in an ad must be intrigued enough to take the time to go inside, especially with such a vast inventory of homes available today.  Oprah Winfrey's decorator extraordinaire, Nate Berkus, was quoted as saying, "Make your home feel like the most welcome house on the block so buyers fall in love with it as soon as they pull up.  Let them picture themselves hanging out on the front porch."
• Clear Up Clutter - Cleaning off counters and tabletops can reduce the amount of disorder in a home, making the space feel larger.  Organizing your cabinets, closets, storage units and even your garage can make a difference.  Buyers notice everything and the slightest detail can cost you the sale of your home.  "Decluttering and cleaning are the two most important things sellers can do to get their house ready for showings." says Jon Boyd, GRI.
• Take Some Risks, but consult your Realtor -- Some home stagers feel that it is important to keep some individuality in your home.  This can be tricky because buyers want to see the possibilities of the house and picture their own furniture in it.  Although it is valuable to have your own sense of style, make sure that what is seen are the options.  Your preferences should not be in the forefront, but rather they should compliment the wonderful characteristics of your home.

Finally, selling your home is a great time to do many of the things you planned to do for many of the years you have lived in the house.  It is a good chance to focus on organization and the next phase of your life.  Take advantage of this time to prepare for your future, not to maintain the past.

by Michelle Neal

This is an exciting time in real estate, especially if you are a buyer. With low interest rates and a plentiful inventory of homes, it is a great time for people to buy real estate.  For those buyers who are new to the process, here are a couple of quick pointers.

Get a copy of your detailed credit report early in the process.  It is important to know your credit score, as it plays an integral part in determining your interest rate.  Also, you want to make sure you are not faced with obstacles later in the buying process.  It is best to be proactive in identifying credit items to pay off or correct.  Most lenders are able to partner with buyers and help them get credit issues corrected.  They can also help to establish a realistic time-frame after which you will be able to purchase.

Researching real estate websites is a great way to tap into valuable resources.  As you might expect, some websites are better than others.  Real estate websites (such as this one) often will be able to provide access into the Multiple Listing Service so you can become familiar with the inventory of homes in various areas.  Many of these websites also allow the user to organize and save their selections to their own "notebook" or "favorites".  Some of the more advanced websites will also provide GPS mapping functions and links to public records (County Auditor sites).   In addition, most real estate websites have links to school district information.  Getting familiar with the school systems in the areas in which you are interested is a very important part of buying a home.

Lastly, it is important for you, as a future homebuyer, to track your expenses to really gauge what you are able to "comfortably" afford.  Determining how much money you have coming in and tracking your expenses each month will help to identify what monthly mortgage amount you can realistically afford.   It will also help you to analyze where you may be able to cut back in order to save up for your down payment.

by Nicki Campbell

I am writing this from Albuquerque, New Mexico, where I am visiting my daughter and her fiance to get ready for their June wedding in Santa Fe.  They bought their first home, a 1600-sq. ft. townhouse in the foothills, in September and they are having fun decorating and furnishing it.  They have the basics -- a bed, table and chairs, inexpensive couch, TV, Target plates, utensils and glasses (service for four), some towels, and miscellaneous "art objects".  Like most young soon-to-be-marrieds,  they have registered at Pottery Barn and Crate and Barrel for lots more "cool" things and are saving up for some of the big ticket items.

As I look around their house with its half-empty cupboards and rooms, I am a bit envious.  We are at the other end of this scenario -- we are choking on "stuff".  Our basement is full of toys no one has used for ten years, bikes no one rides, boxes and boxes of Christmas decorations, exercise equipment that is gathering dust and on and on.   Our kitchen is chock full of pots and pans and baking dishes and gadgets and our closets are overflowing with clothes we should give to the Kidney Foundation.  And we aren't as bad as a lot of our friends and neighbors!

It seems like we spend the first half of our lives feverishly accumulating material possessions and the second half trying to get rid of them.  The 80-20 rule is true: you use 20% of your possessions 80% of the time.  The rest is pretty much a waste of money and space.

So I would like to tell my daughter and her fiance to be very judicious in accumulating things, to take it slowly, and don't rush to fill your closet with things you don't need.  Enjoy the freedom you have now.  The freedom from too many possessions. 

by Jo-Anne LaBuda

Consumers need to remember that in real estate it is always a Buyers' or a Sellers' market.  It is never evenly matched.   Both of these come with their pluses and minuses.  Obviously it is better to be a buyer in a buyers' market and a seller in a seller's market.  Many people are both, so they can benefit on one side or the other.

The time to buy or construct your plan to buy is always "now" if you are a first-time buyer.  This allows you to take advantage of the "owning real estate" benefits which include tax benefits among other things.

We currently are experiencing a buyers' market, which means there are more homes on the market than buyers.  this is the case today, but it could begin to change tomorrow.

Here are some terrific reasons to own or purchase real estate in Columbus, Ohio.  (This information comes from the Columbus Board of Realtor.)

Home prices are very affordable.  This is not necessarily true in other parts of the country where prices have come down but still remain unaffordable for most people.  The average price of a home in Central Ohio in 2007 was $172,531 vs. the median price nationwide of $218,900.  Some economists have actually said that Central Ohio homes are undervalued!

Interest rates are very low.  The 30 year interest rate is only slightly more than 5% as of this posting.  WOW!  The lower the interest rate, the lower the payment.

Despite the gloom and doom in the newspapers, buyers can still get loans.  Terms have simply gone back to the way they were about 5 years ago.  Thank goodness!  Buyers need to borrow a comfortable amount at a rate that will remain constant over the life of the loan.  Again, thank goodness!  There are still plenty of mortgage programs available to fit a particular buyer's needs.

Please give me a call if you'd like to discuss any of this or anything that has to do with real estate.  We like to help buyers and sellers get the information they need to make a decision about whether it is right for them to buy or sell.  We do not push anyone into anything. We consider ourselves consultants, not sales people.  We offer you the information and it is up to you to decide when and if you are ready to make a move.

by Erin LaBuda

It's usually after the first $100 service call that first-time home-buyers begin to realize there is more to owning a home than choosing new paint colors and buying that new couch.  Here are a few simple things that a homeowner can do to make sure they are optimizing the performance of their major expenses:

• Change your furnace filters monthly.  This extends the life and efficiency of the furnace.  Plus the cost of replacing 24 filters (one each month) equals the cost of one HVAC service call.
• Drain your water heater annually.  It can feel overwhelming at first, but by draining the sediment out with the water it will prolong its life and save you time and money.
• Check your circuits bi-annually.  Just flip the circuit breakers off and on.  If a circuit keeps shutting off with normal use, call an electrician and get it fixed immediately.
• Check for leaks periodically.  take a look under your sinks and toilets to make sure you are not experiencing any leaks.  Catching a small leak is an easy fix.  Letting one go will cost you a bundle.
• Don't wait until the last minute.  It's usually fairly obvious when a major mechanical is on its last legs.  Make the calls and get the estimates before your furnace goes out in the dead of winter or your water heater explodes all over your basement.  It happened to me and it was a tough lesson learned!
• Keep your attic and basement dry.  By adding dirt around the perimeter of your house that slopes away from the home and by making sure your downspouts are connected and gutters are draining properly, you can save yourself a lot of heartache and expense from basement issues.  Also, keep an eye on your roof.  If it starts looking a bit worse for the wear, contact a reputable roofing company (or ask your Realtor for a referral) and get it checked out.
• Maintain your fireplace and chimney.  Cleaning and inspection of your chimney on a regular basis is a must to make sure you are operating a safe fireplace.  Also, watch the exterior for major mortar cracks and/or loss of caps.  Water intrusion in the chimney is caused by both of these things and can lead to rebuilding and/or relining a chimney or flue.

by Lynn Nadler

Your credit score, also known as your FICO score, is a very important number and one you should know.  Three quarters of all lenders use FICO scores when considering requests for loans or credit.  This score will determine your interest rate, the amount of your down payment and the kind of mortgage available to you if you buy a house.  It will even determine your ability to get a car loan, the premium on your auto or home insurance and is often even considered when you apply for a job.

FICO scores range between 300 and 850, with the average score being 675.  Ratings are as follows:

Over 750 - Excellent

720 or more - Very Good

660-720 - Acceptable

620-660 - Uncertain

Less than 620 - Risky

When determining your FICO score, the information upon which the formula is based includes: payment history, amount you currently owe lenders, the length of your credit history, the number of new credit accounts and the mix of credit accounts (mortgages, credit cards, installment loans, etc.)

Once you know your FICO score, there are ways to improve it, although this can take time.  Make sure you pay your bills on time, especially your mortgage.  Keep the amount you owe on credit cards low.  If the limit on a card is $2,000, make sure you stay well below that.  If you have a large number of credit cards, cancel ones you don't use and keep just 2 or 3.  If you do cancel, make sure you tell the company to note that the card was cancelled at the customer's request.

To find out your FICO score, there are a number of companies that will give you a report for free.  Do this and then follow these suggestions so that when you're ready to buy a house or a car or look for a job, you will be prepared.