New Albany and Central Ohio Real Estate & Community » Property in Central Ohio

Central Ohio Real Estate: Mortgage Rates Remain Low

The Raines Group — Tue, 15 Jun 2010 11:52:50 +0000

Central Ohio real estate will continue to benefit from historically low mortgage rates. The tax credit may have expired but low rates can save home buyers thousands of dollars off the lifetime of a loan. Last week Federal Reserve Chairman Ben Bernanke announced that the economy is recovering, albeit slowly, and that interest rates will remain low to help keep recovery on track. This is great news for Central Ohio real estate.

The low mortgage rates make buying property in Central Ohio increasingly more affordable, and it is proving to be a great time to get out and look at real estate. Affordability is achieved when monthly home costs are 30% of a household’s monthly income. If you have a steady income and can qualify for a mortgage, it is a great time to buy Central Ohio real estate.

Give us a call today to learn more about Central Ohio communities and have access to all available listings as well as a wealth of knowledge and information.

If you are looking to buy or sell a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

New Albany Ohio Real Estate: Update on Real Estate Market Conditions and Obama Loan Modification Plans

The Raines Group — Fri, 20 Mar 2009 11:17:12 +0000

There certainly is a lot going on in the world of Real Estate right now. Current market conditions are always changing and in this case, changing for the good and showing that things are on the up!

The U.S. Commerce Department is reporting that housing starts gained for the first time in 8 months. The gain was 22.2 percent. This was the first increase since June.

CNNMoney reports that new construction (single family properties) were up as well in January. With new construction of buildings with 5 or more units increased surged 80% to 212,000 from 118,000. Things are definitely looking brighter for Real Estate in 2009.

However, also the details of the Obama Loan Modification eligibility criteria have been released. Here is just a few pieces of information on it:

Mortgage must have originated on or before January 1, 2009.
Home must be an owner-occupied primary residence
Home must be a single family 1-4 unit property
Home may not be vacant or condemned.
Borrowers in bankruptcy are not automatically excluded from consideration.
Borrowers in active litigation regarding the mortgage loan can qualify for a modification without waiving their legal rights.
First lien loans must have an unpaid principal balance (prior to capitalization of arrearages) equal to or less than:
- 1 Unit: $729,750
- 2 Units: $934,200
- 3 Units: $1,129,250
- 4 Units: $1,403,400

Foreclosure actions are suspended during the trial period or while borrowers are considered for alternative foreclosure prevention options. If homeowners fail to qualify, foreclosure proceedings may resume.
No minimum or maximum LTV ratio for eligibility purposes.
Loans are eligible for only one loan modification under the program.

This is exciting news on what is some of the most awaited legislation to come out of the Obama administration to date. Applicants will be accepted into the program until December 31, 2012 and we are hoping that more details will be released at a later date.

Watch this space! – Keep checking back with us for more updates on this and other real estate news. Subscribe to our blog using our RSS feed. (Click here!)

Looking to relocate? Now is definitely the time to buy!

If you are looking to purchase a property in New Albany, Gahanna, Blacklick, Westerville, or another Central Ohio community, please contact The Raines Group. We offer professional real estate advice and are happy to help you achieve your real estate goals. Please contact us today via our online contact form or by calling The Raines Group at 614-418-7417.

New Albany, Central Ohio Community: Village of New Albany Could Gain 245 New Jobs

The Raines Group — Fri, 20 Mar 2009 02:46:30 +0000

Despite doom and gloom in the national press about the economy, here in Central Ohio there is still job growth, a stable housing market and people/businesses looking to move to the area!

Announced this week, New Albany is hoping to gain 245 jobs through an income-tax incentive agreement with a company in the village’s business park.

This is after the decisions made at the council meeting on Tuesday where they approved a 2-percent abatement that would return 15 percent of the abated money to the business if the jobs were created. The incentive itself would kick in after an existing property-tax incentive expires in three years. The company concerned cannot be named at present as they are currently in the process of an abatement at state level.

The company which this effects rents a building in the business park and has extra space to expand. The company is hoping to move the 245 jobs, which have an average yearly salary of $65,000 from another location in Hartford, Connecticut.

This is definitely exciting news for New Albany and it shows that the business park is really on the grow!

New Albany Ohio Real Estate: Stunning Property in Hampstead Heath For Sale

The Raines Group — Wed, 18 Mar 2009 11:33:47 +0000

If you are looking for a fantastic Showcase property in the Hampstead Heath neighborhood in New Albany, Ohio, this could be it!

Located at 7375 Tumblebrook, this 4743 square foot home is ideal for the growing family with five bedrooms, four full and one half bath on a quarter acre lot.

This home has an over sized front porch, finished lower level, four car garage and lush landscaping.

On entering the home you are welcomed with a two story foyer, leading on to the formal dining room and a spacious den. You are then lead on to a great room with a two sided fireplace and a wall of windows. The kitchen features upgraded cabinets, granite countertops and stainless steel professional appliances.

Upstairs there are four bedrooms as well as the spacious owners suite containing a walk in closet, private spa-like bathroom and his and her vanities. Back down stairs to the professionally finished lower level you will find a large media area, rec room, guest bedroom, large full bathroom, craft area, and more!

Early inspection of this home is advised, For 24-hour recorded information, call 1-800-498-1480 and enter code 2430 or for more photos please visit our listing page on our website.

New Albany Ohio Real Estate & Community: Happy St. Patricks Day From The Raines Group

The Raines Group — Tue, 17 Mar 2009 11:38:38 +0000

Happy St. Patrick’s day! May the luck of the Irish be with you!

All across the United States millions will be celebrating St. Patrick’s day. The Patron Saint of Ireland always benefits from a big bash no matter what your ancestry! However with so many of Irish decent in the US it is no wonder we go crazy for it!

From New Albany to Dublin, Ohio and the rest of the Columbus metro area there will be Guinness flowing and lots of green livery in abundance. This year the day is in the middle of the week, therefore Dublin, Ohio who is proud of its Irish roots, hosted a festival on Saturday March 14th in honor of St. Patrick. There was a parade, telling of old irish tales as well as discounts on irish merchandise in local stores.

Whatever you are doing today with your loved ones be sure to have a safe and happy St. Patricks Day!

Looking to relocate? Now is definitely the time to buy!

New Albany & Central Ohio Real Estate: Five Different Ways To Impress Buyers

The Raines Group — Mon, 16 Mar 2009 11:35:30 +0000

Selling your home can be stressful, most want to make their home as attractive as possible – usually through home staging and of course choosing the right agent.

However in addition to the regular tips which we have provided over the years, including: taking down personal photos, decluttering, applying a fresh coat of paint and making minor repairs etc.

There are other ways in which you can help buyers through the door. Buyers want space, light, open floor plans and more storage capability. Even if you live in a cookie-cutter home, you can make it stand out. Americans are projected to spend $217 billion on home remodeling in 2009. Remember what it was like when you looked at your property for the first time before you signed on the dotted line?

Have you considered the following as minor remodeling options?:

1. Going green. Energy efficient products and household goods are attractive to buyers. Things such as better insulation, replacing old windows, and adding skylights can increase value.

2. Crown molding and wider baseboards. The basic baseboard that builders often use in tract homes doesn’t draw attention. Adding a wider baseboard and a fresh coat of paint makes the room come to life.

3. Textured paint. Faux finishes, accented walls, or even just a little fresh paint on them makes a lasting impression. Choose colors and textures wisely. Don’t get too carried away!

4. Improved flooring. Wood, tile, and new carpet can be a showstopper, inspect your flooring for faults!

5. Add a deck. Adding a deck can add value to your home. It’s a nice feature in a yard and many buyers are happy to purchase a home that already has a deck so that they don’t have to take on that home improvement project – imagine those lazy summer days barbecuing on the deck? If you can, you can bet your buyer will!

Hopefully with these tips you will have a great head start in preparing your home for a quick sale!

Looking to buy a home or sell a home? We can help!

New Albany and Central Ohio Real Estate News: Signs of National Market Turnaround?

The Raines Group — Tue, 24 Feb 2009 02:23:06 +0000

Despite any negative press at the moment the national housing picture is improving. :)

Many are trying to predict what will occur in 2009 with Real Estate however if you look at the facts the stars are aligned for a much better year overall. With recent legislation from the federal government such as the 2009 American Recovery and Reinvestment Act which was passed by Congress on February 13th there are now more tax cuts coming to Americans through new government programs.

The most notable program in this bill is the $8,000 first time home buyer tax credit which does not need to be repaid – like last years $7,500 credit. Also, the requirement to fall into the first time home buyer category is only to not have had an interest as owner or co-owner of a property in the last three years. Therefore, you could have sold a home in 2005 or 2006 at the peak and now be in the market looking for a property again. Under these rules you would qualify! This is great news!

Also, there is the Obama administration’s massive $275 billion relief program to keep three to four million home owners out of foreclosure, and to refinance three to four million mortgages where owners can’t otherwise qualify for a new loan because of property value declines.

These two programs alone should help sure up confidence in the Real Estate market for this year. Total applications for new mortgages last week exploded — up by an extraordinary 48 percent, according to the Mortgage Bankers Association. Applications for conventional loans to buy houses were up by 11 percent. With rates so low it is no wonder that many are looking to buy a home.

Want help in searching for your dream property in the Columbus Metropolitan area in Central Ohio?

Central Ohio Community – Inauguration of our 44th President – Barack Obama

The Raines Group — Tue, 20 Jan 2009 18:59:45 +0000

History was made today with the inauguration of the first African American President of the United States.

Barack Obama took the oath of office in front of a crowd of an estimated 2 million in the National Mall – surely there were some Central Ohioans braving the cold? :-)

With lots of work to be done, the new president faces many challenges. His plans for housing are definitely a step in the right direction. Released back in November, the new administration is looking at wide scale mortgage and lending reform to ensure continued access by all to a variety of mortgage products and low rates.

Also the potential new $800 billion stimulus package is keeping the political tongues wagging in Washington as the ambitious plans are roughed out for presentation to congress.

The National Association of Realtors has also wished the new president their best in a press announcement this week.

Like all Americans, we wish our new President well and the best of luck in undertaking the coveted role of leader of our country.

New Albany & Central Ohio Real Estate: Museum Quality Tile Artwork A Hit With Buyer & Adds Thousands To Your Home

The Raines Group — Thu, 15 Jan 2009 00:21:10 +0000

It is a well known fact that when it comes to selling your property a home which has been updated, clean and geared up towards its target market in terms of decor and furnishings has the best success in getting a quick sale. However, buyers tastes continually change as does the market. So, what are they looking for at present?

Calling all homeowners in New Albany, Gahanna, Blacklick, and the rest of Central Ohio! If you want to add thousands to your homes value, consider installing Museum Quality tile in a work of art in your home.

Most of us are drawn to the tile warehouses when it comes to doing tile work, however the art of laying your own masterpiece no longer falls to your own talents. Tile companies now offer patterns from your own artwork in mosaic and laser-marked tiles. Meaning that the initial reaction that artistic tile in your home may be cost prohibitive is no longer true as it is an affordable option for many.

As with all projects, if done right the rewards are there. You can create a masterpiece suitable for your property and fitting with the decor. This is definitely a unique selling point for your home.

Central Ohio Real Estate: City Annexation Slow Down Allows Planners to Take More Time

The Raines Group — Tue, 16 Dec 2008 04:14:32 +0000

Recently with the housing slowdown nationwide, town and city councils have slowed down the level of annexation of property in the region. Town planners now have more time to make decisions and ensure that there is better planning for projects.

For Columbus, this year it looks set to only annex around 100 acres whereas in previous years – even in 2003, 2133 acres were annexed that year. This year the largest annexation project will add 32.5 acres whereas last year the largest was 47 acres.

As reported in the Columbus Dispatch, urban sprawl and the suburbs are outdated ways of looking at development. With a slowdown in annexation, planners and utilities can take time to work together for more regional cohesion.

It is clear that the villages that surround Columbus are maintaining their unique identities and maintain their town planning so that the quality of life for its residents and for newcomers is kept up.

If you are looking to purchase a property in New Albany Ohio or the surrounding area in Central Ohio such as Gahanna, Plain Township or New Albany itself, then please contact The Raines Group for professional Real Estate advice in the region. The Raines Group are more than happy to assist you in your real estate needs. Contact them today via their online contact form or by calling Sandy Raines on: 614-418-7417