All real estate is local … city views from the street (Part II)
Location, location, location. It’s the well-known piece of advice given to buyers when they ask about the most important thing to be aware of when investing in real estate. This same phrase should be applied to real estate reporting. The assumptions by national media about the very local business of real estate has a negative effect on the housing industry.
Real estate professionals are saying, “Thanks but no thanks. We don’t need your pity party, all real estate is local.”
This three-part post tells the tale of three locations at the moment and how they came out of the market downturn. I posed a simple question, “What’s goin’ on? ” to three real estate professionals in three unique markets. Skip Smith dished up the Salt Lake City real estate news in Part I of this post and shared that he feels the worst for his market is over. Part II continues with a look at Columbus Ohio.
Columbus Ohio real estate shared by Tricia Argabrite - local Columbus real estate agent and Connect2Agent member
“I’ve been in the business for only two years and everyone tells me I got in at the wrong time … I feel like it’s 
pretty decent now,” Argabrite shared. There are a lot of first-time home buyers purchasing in the Columbus area now. Argabrite assumed first-time home buyers would be purchasing lower-priced housing, but found some are looking in the mid-$500,000 range. These buyers are young, professional couples - high, two-income families.
Considering that the average price in her market is $175,000, this was good news for Argabrite.
Apparently Argabrite isn’t alone in thinking real estate in Columbus is decent. The Columbus Board of REALTORS has launched a campaign called The Grass is Greener Here. The website lists local Columbus real estate facts to help negate the negative national real estate news.
Columbus Ohio has a stable job market due to many large, white-collar employers. Many families already live here and Columbus was built to accommodate growth. Education isn’t a concern; the Greater Columbus area of Dublin, Hilliard, Westerville, Pickerington and Grove City all have great schools.
Do foreclosure and short sale properties have an impact in Columbus Ohio real estate? Argabrite told me they do exist, but are winding down.
“We still have an overall high inventory of houses on the market, but it is decreasing. We had a great oversupply of houses at one point but we had a few builders pull out of the area. They are waiting until they have a buyer and then they are building out the homes.”
What does Argabrite want buyers and sellers in Columbus Ohio to know? “If you want to know about the local real estate market, turn the TV off. Things aren’t as bad. Prices are starting to go back up slowly. I would be concerned if there were a fast increase. Real estate is a good investment.”
‘Nuff said.
To be continued …
Posted by Rebecca D. Levinson
Tags: Columbus Ohio real estate, columbus ohio real estate agent, Connect2Agent