The unwavering demand for Central Ohio homes pushed price increases into the double digits. Average home prices in July increased 10.4% on a year-over-year basis, reaching $278,044. Calculated by median, home prices increased 11.4% year-over-year.

Despite higher prices, sales have been swift. Homes priced below $350,000 spent an average of 20 days on market. In the price range of $350,000 to $500,000, homes spent an average of 33 days on market. Back in May, these price ranges had days-on-market of 24 and 37, respectively.

While the Columbus Metro real estate market has been “hot” for some time, this summer brought a new first. During July, the average home sale price exceeded the average listing price. In other words, it became common for homes to sell for more than the asking price. This phenomenon was once was an exception, but it has practically become the norm.

Still, Columbus home buyers should not make blind decisions or rush judgments. Home inventory, while still constrained, is improving. And being the highest offer can mean offering $1,000 over the asking price, instead of $10,000. As our Buyer-Client, you’ll get expert home buying guidance to help you succeed, without breaking the bank!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Columbus Homes See Higher Summer Prices, Faster Sales appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

Powerhouse tech employers such as Facebook, Google and Amazon are expanding their presence in the Columbus Metro, while 300 other development projects are in progress. According to a report by Construction Dive, the Columbus Metro has over $4 billion in new development starts this year, including residential housing, commercial property and public works projects.

As of August 2019, non-residential construction activity is up 38% compared to last year. Residential housing starts are up 6% year-to-date. New housing development has been taking place in the Columbus suburbs and in previously overlooked areas within the city proper. Among the most notable is the Scioto Peninsula project, a $500 million mixed-use development that will add three residential buildings, two hotels and an office building.

Ohio State University is part of the building boom, with projects worth $2.4 billion slated during the next five years. Meanwhile, a new $300 million soccer stadium for the Columbus Crew has broken ground in downtown Columbus. New medical facilities, retail centers, restaurants and professional services are in the works throughout the area.

For Columbus home buyers, the boom can be a mixed blessing. On one hand, you can reasonably expect your home value to improve if you buy wisely, and if the local economy remains strong. But with home demand still outpacing supply, home prices have been steadily rising, creating a higher barrier to entry for first-time buyers.

Fortunately, having the guidance of an Exclusive Buyer’s Broker can help you navigate our ever-changing real estate market! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Population Growth Fuels Columbus Building Boom appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

The Smart Cities Challenge put Columbus up against stiff competition from San Francisco, Austin, Pittsburgh, Portland and Kansas City, all finalists in the competition. As the “Smart City” winner, Columbus’s reputation as a forward-thinking tech city is being bolstered by companies like Google, Microsoft, Amazon, AT&T and MobileEye.

With $140 million coming in to develop the “city of the future,” Metro Columbus could look a little different in years hence! Especially when it comes to getting around town. With the grants, Columbus intends to launch a “smart” public transportation system using self-driving vehicles, while using electric vehicles for public works. Vehicle-to-vehicle communications would link city buses, taxis and trucks together in a comprehensive network.

This may not sound like much until you can picture the benefits. Vehicles that can “talk” to each other can sort out problems from miles away, by sending alerts and communicating alternate routes, improving public safety. Improved logistics for moving goods and people can lead to better efficiency, resulting in cost savings and reduced traffic congestion.

Among the first priorities for Columbus is improving transportation services to under-served neighborhoods. For example, the city intends to have self-driving shuttles and ride services dispatched to Linden residents, providing transportation to jobs and medical care.

While the grants are exciting news, we must also keep in mind that Columbus will be working with a confluence of emerging technologies, and a public and private sector partnership of some complexity. In short, the city of the future won’t be built overnight. But it will be built in Columbus!

Would you like to make your future home in Columbus? As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Columbus Named “Smart City” Winner, Earns $50 Million Grant appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

The Columbus Dispatch reports that Central Ohio’s jobless rate fell to 3.8% during May, with three counties in the region posting some of the lowest unemployment rates in the state. Here’s where the unemployment numbers stand around the area:

• Franklin County 3.8%
• Delaware County 3.3%
• Madison County 3.5%
• Union County 3.5%

The unemployment rate in the City of Columbus was slightly higher than these counties, at 3.9%. Overall, Metro Columbus area has the lowest unemployment rate among all of Ohio’s metropolitan areas.

Gains in employment were driven by hiring activity in the leisure and hospitality industries, along with hiring in business and professional services. Our diverse economy is helping Central Ohio make better employment gains than the rest of the state – and better gains than many areas of the country.

Meanwhile, the Federal Reserve indicates that its benchmark lending rate is unlikely to change much during the rest of 2016. Back in December, the Fed signaled intent to gradually raise rates in several increments this year. In turn, analysts expected that mortgage interest rates would eventually climb higher.

But mixed national employment figures, spotty economic growth, and geopolitical uncertainties have kept the Fed cautious. Now, economists predict that any future rate changes won’t happen until possibly September. Any rate changes that do occur are likely to be very modest.

What this means for the Columbus real estate market, is that home demand is likely to stay strong through the balance of the year. Confidence in the job market and the local economy, combined with attractive mortgage interest rates, will keep home buyers active in Central Ohio. The main challenges facing buyers include low home inventory and rising home prices.

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Good Economic Conditions for Columbus Home Buyers appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.

Lately, the Columbus housing market has been making most of the economic headlines, with positive news for both existing homeowners and Central Ohio home buyers. We’ve detailed many of these articles in our prior blog posts. There is no doubt that our strong regional economy contributes to the health of our housing market! This is why we’re sharing highlights from a recent Inc. magazine article that glimpses the near future of the Columbus economy.

According to Inc., Columbus has been quietly amassing venture capital funds that can rival most U.S. cities. This helps attract entrepreneurs and startup companies to our area. Columbus venture capital firms issued $32.8 million into local startups during the first half of 2015. Just 4 years ago, venture capital investments totaled $16.3 million for the entire year of 2011. It’s amazing to consider how quickly our venture capital resources have grown – and how much money is being invested in our economy.

Columbus also has advantages in demographics, thanks to Ohio State University. While some U.S. cities are seeing a decline in young adult population, Ohio State University attracts young talent from around the country. In 2014, OSU’s student population was just under 64,868.

Today’s students are entrepreneur-minded, and our growing venture capital resources encourage graduates to start their businesses right here. Columbus offers plenty of other reasons to stick around after graduation, such as attractive job opportunities, social and cultural opportunities, a good quality of life and affordable housing.

It should be reiterated that Columbus’s startup scene isn’t a “coming soon” teaser – it’s already here! According to Kauffman’s Startup Activity Report, Columbus ranks #12 among U.S. cities for startups, rising sharply from #22 from just a year ago. This bodes well for the long-term strength of our economy, and ongoing health of our housing market.

Ready to find your home in Columbus? As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Broker, CEBA, CEBA-M, CNE, CSP, ABR-M, e-PRO, GREEN
Buyer’s Resource Realty Services
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

The post Future Economy of Columbus Fueled by Entrepreneurs appeared first on Columbus Ohio Real Estate | Buyer's Resource Realty Services.