Delaware Ohio Real Estate From a Dog's View

Migration Has Begun...

2006-10-25T15:51:00.000-04:00

I decided to migrate this blog to its own domain, so the posts have been reposted at:

www.delawareohrealestate.com

Please make any adjustments you need to and visit me there -- early and often!

Toby

Delaware County Real Estate: October 8-14

2006-10-16T00:17:00.000-04:00

The market is coming back!

Active

Number: 1,713
Squre Feet: 3,733
Bedroom: 3
Bathroom: 2.1
Days on Market: 131
Listing Price: $389,420
Sold
Number: 14
Squre Feet: 2,390
Bedroom: 3
Bathroom: 2.1
Days on Market: 132
Listing Price: $286,732
Sales Price: $277,198

Withdrawn

Number: 24
Squre Feet: 2,563
Bedroom: 3
Bathroom: 2.1
Days on Market: 135
Listing Price: $344,174

The Week that Was in Delaware Ohio

2006-10-15T23:37:00.000-04:00

Starting to see a recovery from the real estate supposed burst of the real estate bubble that scared all the buyers and sellers into hiding.

Status	No.	Sq.Ft.	Bed	Bath	DOM	List	Sales
Active	312	1,816	3	1.1	106	$184,855	--
Sold	4	1,594	3	2.1	72	$156,962	$148,800
Withdrawn	2	1,513	2	2.1	117	$191,00	--

2006-10-15T22:27:00.000-04:00

Know Your Neighborhood

2006-10-15T19:23:00.000-04:00

When you are looking to purchase a home there are a lot of things that people think to look at - with the school district being the most obvious.

Registered Sex Offenders - Use the link to find the registered sex offenders located within one mile of the address you are considering. Should you not purchase a home because a sexually oriented offender is in the neighborhood? I don't believe so, as it would be virtually impossible to find a neighborhood without any sexual offenders - and even if you do there is virtually no way to say that one will not move in the day after you close. However, a baby-sitter would probably be a lot more concerned (with good reason) than a dog would be.
School Rankings - This is like trying to hit a bulls eye from a moving truck. There are as many rankings as schools and each one looks at different things, which makes it almost impossible to figure out which school district is "better". Of course, the school's with more money offer more options than the more cash-strapped schools. Personally, I think the "ratings" are over-rated and that it is up to the student to make the most of the opportunity.
Crime Rates - Another "stat" based concept that is difficult to "measure" depending on your location and the amount of crime in the area. For example, I was born in a rural Amish community (Nunda) before moving in with Toby and Gretchen in Delaware when I was seven weeks old. An Amish community of roughly 100 residents and an exploding city of 25,000-plus people are going to have completely different crime rates. And the same can be said about comparing Delaware and Columbus.

A real estate agent can't (or shouldn't) use the above information to persuade you to purchase a home - s/he really should provide you with access to the information and then allow you to form your own opinion.

If you've been reading this blog, hopefully you are currently working with a buyer's agent (they are your security blanket - and usually "free!"), but if you are still "just looking" here are a couple of things to keep in mind.

Getting a feel for the property values in the neighborhood you are buying in is very important.
The Auditor's site (Delaware County auditor) can be a wealth of information including the tax rate, what the past several owners paid for the home, and maybe even a diagram of the property depending on the county.

Hope this helps and if you are looking for a home in Ohio, look me up!

Vacation Got in the Way

2006-10-15T19:19:00.000-04:00

Sorry about missing a couple of days, seems that we can't trust Toby to post while I'm away. Something like taking off for North Carolina and a Lowe's Motor Speedway for the NASCAR race.

Hopefully, since I'm back today - I'll be able to push him into a quick post.

by Sadie

Hidden Gems: Cows on the Infield

2006-10-12T00:18:00.000-04:00

As old man winter puts his arms around us for the first time this weekend, I thought it would be fun to take a look back at a warmer time.

The summer.

If you are a fan of baseball and live in Delaware County, then you have something to truly enjoy.

First, the Columbus Clippers are a AAA team (the highest level of affiliated minor leagues) and play at Cooper Stadium just west of the I-70 and I-71 split in downtown Columbus. Next year should be cool as the team will have its first new affiliate - the Washington Nationals - in a long time. The Clippers are also looking at having a new stadium and another new affiliate (the Reds or Indians as popular choices) in 2009.

But if you don't feel like driving all the way to Columbus, there is a hidden treasure in your backyard -- the Delaware Cows. The Cows compete in the MLB sponsored Great Lakes Baseball League against teams from Columbus, Toledo, Xenia, Grand Lakes, Cincinnati, Lima, Athens, Canton, Indianapolis, and more. The team is comprised of players that still have collegiate eligibility and are playing hard to catch the eyes of a scout and hopefully have that chance to play one more season in the sun. The games are laid back and the price is right -- $3 for adults in 2006 -- and the location is perfect -- Ohio Wesleyan's Littick Field -- for a summer day at the ballpark.

I serve on the board of directors for the Delaware Cows and it is a truly wonderful experience. We are always looking for community members to house the players and if you are interested either drop me an e-mail, call 740-990-9748, or visit the Web site.

Photo used with permission of the Delaware Cows

Want a Glass of Wine? Grab the Delaware Grape

2006-10-11T00:05:00.000-04:00

With Sadie out of the picture for a couple of days, I thought I'd broach a topic that's a little too seasoned for her 1-year-old ways -- a local grape.

Have you ever enjoyed a glass of wine from the Delaware Grape?

If you thought that it came from the nation's first state, then you'd have been wrong. The Delaware Grape is named after none other than Delaware, Ohio.

The Delaware Grape, according to Waldo's Shamrock Vineyards Web site, "is a native American hybrid grape variety that is used to make dry, sweet, and sparkling white wines of good quality with a barely perceptible 'foxy' character. Commonly grown in the Eastern U.S. on deep, fertile, well-drained soils where it ripens in early to mid-October, it has considerable popularity when made into 'ice-wine'."

These characteristics led to "grape fever" in the 1860s. Ben Heath had been cultivating the grape for about 15 years when he gave a basket of the grapes to fellow horticulturalist and Delaware Gazette publisher Abram Thompson in 1853. Thompson sent the grapes to Massachusetts Horticultural Society in 1855 and they were so amazed with this new "Grape from Delaware, Ohio" that they gave Thompson a silver goblet and medal and commissioned a life-size oil painting of Thompson for his wife.

Thompson was joined by two other world-famous horticulturalists – George Campbell and Frederick Vergon – to take the Delaware Grape to its highest levels. Campbell used his homestead – now the Delaware Arts Castle – to become the major seller of Delaware Grapes worldwide, while Vergon served as a supplier for Campbell.

The combination of demand and being one of America's first native grapes with the versatility to become wine set the stage for "grape fever."

So grab a glass of Delaware Grape wine and capture your own "grape fever".

Portions of this story were taken from a story I wrote for Connect2 OWU last year, with much of the background for this article came from an article by Delaware County Master Gardener Donna M. for The Ohio State University Extension.

Taking a Little Trip

2006-10-10T23:15:00.000-04:00

I'm taking a litle vacation to visit with my best-friend Janie. So, I'm going to be leaving the blogging to Toby over the next couple days. Sorry, to do that to you. As he's a little boring -- he likes thing like baseball and history -- but you'll have to put up with it. Sorry!

Feeling Caged In?

2006-10-10T22:12:00.000-04:00

Toby thought this was a funny promotional shot (don't worry, I got him back ...) but it is funny how quickly we can begin to feel cramped as the colder weather starts to come in.

If your settings are feeling cramped, then give Toby a call at 740-990-9748 or send an e-mail.

Don't worry Toby wasn't actually hurt during this post, now a couple of his shoes ... that's another story

This week in Delaware County Real Estate (Oct. 1-7)

2006-10-09T09:31:00.000-04:00

We've been looking at the city of Delaware the past couple of weeks, so I thought I'd do a review of the Delaware County market. This includes the entire county - including the city of Delaware.

Status	No.	Square-ft	Beds	Bath	DOM	List	Sales
Active	1,719	2,731	3	2.1	126	$388,710	--
Sold	10	2,069	3	1.1	88	$221,280	$214,840
Withdrawn	29	2,630	3	2.1	137	$347,973	--

Since this is the first one we've done it is impossible to draw any conclusions from this. But the sellers are getting about 97% of their original list price, which is more than it was last month. Granted, only 1 percent, and on 10 transactions it isn't large enough sample to be statistically significant.

However, I think there will be a small reduction in sales price compared to list price through the end of the year. It will be less than 5 percent, nothing like they are seeing in other markets, where they are reporting 20-plus percent decreases.

Delaware Real Estate This Week: Oct 1-7

2006-10-08T09:21:00.000-04:00

Sorry that I didn't get this posted on Saturday. They were updating the MLS Web site and Toby felt it was "more important" to show a couple of houses, instead of getting this to you. So blame him.

Status	Nu.	Square Feet	Bedroom	Bath	Days on Market	List Price	Sold
Active	316	1,799	3	1.1	108	$184,725	--
Sold	1	1,396	3	1.1	107	$158,900	$153,500
Withdrawn	8	2,207	3	2.1	201	$236,500	--

The Delaware market is starting to pick-up, but I continue to believe that we are seeing the results (at least on the sold end) from those couple of weeks where the media and such scared all the prospective buyers back into a cave.

Showing you the money in Delaware Ohio

2006-10-06T08:31:00.000-04:00

Show me the money … in a house isn’t that what it is all about?

We’ve been spending a lot of time on this blog talking about why it is important for those buying homes to choose their buyer’s agent and develop their relationships through that. (if you missed the posts, or want a refresher “Why Pick a Buyer's Agent in Delaware” and “What Can a Buyers Agent do for Me in Delaware?”)

And those are all great reasons when it comes to what you should expect from working with Toby – a licensed, professional real estate agent. But, you might be thinking that’s great Sadie, but what does it have to do with making me money?

Well I’m glad you asked, there are a lot of things that Toby can do that will save you some money. But one of the most important is that he’ll work with the financing institution to get you the best deal possible (and note no mention of rate) for your new home. I didn’t mention rate, because there are ways that we can get you into a new house where the interest rate might be higher than another offer – but it is a better deal for your goals on the house. An example would be the much maligned ARMS loans that were popular a few years back, but now they are resetting and are partially to blame for the current housing slump.

What is an ARM? Sorry the basic terminology is that all loans are one of two options – fixed (locked in percentage rate) or variable (the annual percentage rate changes as a function of a “baseline” variable) and there are a lot that have blended the two and will be fixed for “x” years before becoming variable. Hence, an ARM is an adjustable rate mortgage which allows for rate to be reset after a certain period of time.

The old “30-year fixed” mortgage is exactly that. You buy a house for $120,000 and they tell you that your principle and interest payment will be $900 then it will be that price for all 30 years. Same for 15 year fixed rate mortgages.

Well that sounds like a great idea, I will know what my payment will be for the next 30 years – and assuming that I’m going to make more money in 5 years it will make the mortgage even easier to pay. The downside to fixed mortgage rates is that you’ll pay a higher percentage rate for that security. The financing institution is taking all the risk on a “fixed” mortgage, so they will charge you a little more to make it better for them.

So, you’re saying I want an ARM? Well, I’m not saying any such thing -- it all depends on your risk level and plans for the home, and that is where Toby can help you.

He works with numerous lenders and each of them has about 35 different loan options available to consumers. And by working with a buyer’s agent from the start you have a chance to work with the lenders and get a glimpse at all the things they can do for you. Calling the agent when you want to look at a home, and make an offer on a home, suddenly there is a lot of pressure to get you financed and you are going to end up with the “best fit” now, but it might not be the best “fit” into the future.

Well I’d write more, but its off to the cage for me, as Toby has a showing to get to … so until next time, be flea free!

Two New Listings at Disbennett Real Estate

2006-10-05T08:18:00.000-04:00

Exciting couple of days around Delaware, Ohio.

It appears that buyers have woken up from their slumber!
Disbennett Real Estate Company does have a couple of new listings on the market that are exciting and should go quickly.

If you are interested in land, we have 5+ acres on Curve Road priced at $145,000. The house needs some work (mostly the fact that it doesn’t have a “complete” bathroom, but it has a couple of great locations for one) but price reflects that and this is a very desirable area of Delaware County.

The second is another “fixer-upper” only this time on the west-side of Delaware. It’s a three-bedroom ranch with two full baths. Located just west of the Delaware city limit it sits on a secluded street and with just over 1.7 acres it will go fast. Priced to sell at $120,000. (Sale is contingent on court approval.)

If either of these homes sound interesting, give Toby a call 740-990-9748 to schedule a showing or send him an e-mail.

We're a Blog to Watch!

2006-10-04T07:46:00.000-04:00

Pittsburgh Home Daily has named "Delaware Ohio Real Estate From a Dog's View as a blog to watch this in a recent edition!

Yes, I know that we are one of 500, but in dog year's that's what, one in 3500?

12th Carnival of Real Estate

2006-10-04T07:30:00.000-04:00

The 12th Carnival of Real Estate is being hosted by YoChicago.

While their favorite was the 102 posts at Sellsius, I found the blog on using business cards as marketing tools from BloodhoundBlog very interesting.

A great read for those interested in real estate, probably more for agents than the general public though.

Delaware Ohio - Change a Light Today!

2006-10-04T06:40:00.000-04:00

Every day is a good day to save some energy -- but today is even better than most.

Today is the annual "Change a Light Day" as part of the "ENERGY STAR Change a Light, Change the World Campaign" is sponsored by the Department of Housing and Urban Development (HUD), the Department of Energy (DOE) and the Environmental Protection Agency (EPA).

The goal is that every American home will change one "traditional" light bulb and replace it with an "ENERGY STAR" light to preserve energy.

Sounds like a good plan, and to top it off, it will save you a little money each year.

Delaware, Ohio: Looking to Sell? Be Prepared to Wait

2006-10-04T00:48:00.000-04:00

Toby wrote this article for the Locust Curve Homeowners Association newsletter that is publshed each quarter. Thought I'd share it here...
“How’s the market?”

Easily the most common question, I’ve received since becoming a Realtor®. And the answer remains the same, “good, if you’re patient.”

What does that mean? Comparing sale price and days on market, we can find an interesting trend.

Sale Price
Through Sept. 1, the average home price in Locust Curve ($190,344) and Delaware ($159,687) are at their highest mark in the past five years. In 2006, Locust Curve has had 18 homes sold with a low sale price of $161,500 and a high of $249,900. Selling your home in Locust Curve today, on average, would net you 12% more than it did five years ago (compared to 14% in Delaware as a whole). Locust Curve sale prices are 4% higher than last year, while Delaware is running 5% higher. A minor difference when you figure that Locust Curve does about 6 percent of the volume the city does – and the community’s higher base price to begin with.

Days on Market
This is what has everyone nervous about putting their home on the market. For the past four years a home in Locust Curve sold in, on average, 99 days. However, this year it has ballooned by almost two months to 168 days. Delaware has also seen a bump, averaging 95 days so far this year after averaging 93 days the previous four years.

Why the increase? There is not a single reason that has increased the days on market. However, there are several factors that we can point to.

While we are facing the highest days on market compared to our neighbors, Lantern Chase (134) and Troy Farms (133) are also looking at more than four months, while Carson Farms (88) and Lexington Glen (87) are still in the three month range.

More than six percent of our development is currently on the market, and the numbers aren’t much better in other developments.

In a buyer’s market, higher-priced homes don’t sell as quickly. In large part this is due to the need for the sale of another home to purchase the higher-priced home. If your prospective buyer has to sell her home – and it is going to take longer – then it makes sense that your home will take longer to sell.

Continued building in the development behind Locust Curve is also hindering the sale of our homes.

What Does All This Mean
Recently the Columbus Dispatch ran an article on how horrible the market is – and how bad things are for sellers. The article looked primarily at the inventory of homes for sale – which on a micro level boils down to how many days your home could be on the market. And if that is all you look at then, you are right this is a horrible market.

My response to the article is that you have to look at the first two points – sellers are making more money than they did last year and getting basically what they ask for on the original list price. Is waiting an extra two months worth that?

If not, then you are going to have to discount your house to make it more attractive to buyers and generate an offer on your home. Some experts are predicting that sale prices will begin to drop later this year as seller’s battle for potential buyers. However, there are also those that point to the sales price to show that things aren’t that bad. Which is right? Only time will tell.

But for right now, the market is “good, if you’re patient.”

Toby Boyce is a Realtor® with Disbennett Real Estate Company and resides in Locust Curve, he can be reached at toby@tobysellshomes.com or 990-9748.

Government Giving Away Free Money to First-Time Home Buyers in Delaware Ohio

2006-10-03T20:52:00.000-04:00

Housing and Urban Development Secretary Alphonso Jackson has announced that the government has made $39.1 million available to low- and moderate-income families. The press release says that this money will help 850,000 families.

Mid-Ohio Regional Planning Commission, of Columbus, received $30,000 through the program to offer Homeownership Counseling.

This sounds great on paper, and plays well in this season of politics. But, what does it really mean?

They are giving $39.1 million to counsel people on home ownership or how to keep their home. Counsel?

I'm not trying to be mean but as the price of homes continue to inflate in central Ohio and incomes fail to keep touch, what does counseling do? It seems a bit like teaching people to fish -- in the middle of the desert. Yes you have a skill, but can you use it?

What will $425,000 Buy in Delaware Ohio?

2006-10-02T00:10:00.000-04:00

The owners of Active Rain like to kick us up a notch every once in a while with some blog "ticklers".

This week's tickler, was "what will $425,000 buy in your market?"

In Delaware County -- the nation's 15th fastest growing county -- there are currently 9 homes on the market for about around $425,000.

For that price you'll get:

four bedrooms

two full and one partial bath

two story

a three-car garage

2,963 square feet (low of 2,253 and high 3,341)

Oh yeah, and the average days on the market for these nine homes is 96 (which is about average for the county right now).

As to condos or fee simple, $300,000 is about the limit in the county right now.

The Month That Was

2006-10-01T11:46:00.000-04:00

Toby's Stats for the month of September were:

Listings: 0
Closings: 1
Total Transactions: 0.5
Total Real Estate Sold: $85,000

Doesn't look great, but Toby was prepared to go six months without a closing -- based on what they had told him at Hondros College. So getting that first deal done in under two months is something that we are all proud of!

The Week That Was In Delaware - Sept. 23-30

2006-09-30T12:27:00.000-04:00

Last week was a slow one in Delaware, and we blamed it on the Fair and such. Well this week wasn't a lot better ... have to come up with a new excuse.

Status	Properties	Ft2	Bedrooms	Baths	List Price	Sales Price	Days
Active	315	1,811	3	1.1	$184,170	--	111
Sold	6	1,463	3	1.1	$159,425	$155,948	45
Under Contract	2	2,436	3	1.1	$234,000	--	199
Withdrawn	3	1,968	3	2.1	$211,166	--	292

I think we are just seeing the "response" to the slow-market working its way through the chain. It took buyers and sellers some time to figure out that the market had shifted.

What Can My Buyer's Agent Do For Me in Delaware Ohio?

2006-09-29T12:12:00.000-04:00

Yesterday, I talked about choosing a buyer's agent based on a call Toby took while on floor-duty.

I received an interesting question from Janice:

"Thanks for the advice, but what should I be asking in this interview?"

That's a great question Janice!

A buyer's agent should be able to do four things for you:

1. Find You a Home

2. Negotiate Your Home

3. Manage the Deal

4. Meet Expectations

Sounds easy, but there is a lot more to each of those than just the surface level.

Find a Home
In the age of sites like Realtor.com and Zillow, this has taken on a different angle than in the past. Experienced agents could hold the MLS over the head of prospective home buyers and they would feel that the agent had more information than they did.

But, we go back to Toby's favorite saying "information is cheap, don't be cheap." So what is an agent's role in finding you a home? They can work with you to find the home, but it is the agent's role to point out issues with the home -- things that an agent will see more because this is what they are trained to do. Spotting potential defects -- or even things that the seller may have omited that could increase the homes value (for example, hardwood floors under the carpet).

Negotiate Your Home
What is the goal of a buyer's agent? To get you the home you want in the best possible deal. Note that, I wrote deal -- it isn't always the best price. It is the combination of the sales price, financing options, downpayment, etc. that leads to a great deal tha will ultimately provide the purchaser with the most enjoyment of the property.

Manage The Deal
Bying a home is extremely stressful situation for a buyer, and if their agent is always saying "let me check." Don't you think that will add to the stress level? So you want an agent that is experienced and keeps involved in the transaction from the beginning to the end of the deal.

Meet Expectations
There are a lot pitfalls that can send a deal packing as it heads through the stages. And you need to know what they are and the postive and negative reactions to your decisions. The entire deal is a "game of chance", and you need to know the odds before playing.

The easiest example would be if you can only buy a home in the $100,000 range and the agent is showing you homes in the $300,000 range. Well you are never going to find a home that can meet your expectations in that location.

Good luck in your pursuit!

Why Pick a Buyer's Agent in Delaware?

2006-09-28T15:20:00.000-04:00

I was on floor duty this morning and took a call from an interesting young lady. She is very intelligent and well-spoken, but the way she is going about purchasing her home is going to lead to bad feelings.

But it isn't her fault, she was doing what she thought she needed to do -- especially on their limited budget.

So, I'm going to pass along the same advice that I gave her this morning on how you should select a buyer's agent.

First, calling on signs is fine. But you have to understand what you are doing when you pick up the phone. By engaging in conversation with the selling agent, you are a customer for the agent and receive the basic required courtesies. However, you have to remember that the seller is that agent's client. And as a client, that agent owes a much stronger level of responsibility to that seller than to you as a buyer.

What does that mean?

Calling on signs will always put you at a disadvantage.

All listed properties have a seller's agent.

The seller's agent is of course going to be nice to you. They are hoping that if you don't become the buyer for this home, that they can become your buyer's agent.

So how do you find an agent?
As a new agent, the last thing I want to do is use the "r" word. But the best place to get deal is a referral from a friend, but be sure to find out why they are passing along the name. Is it because of how they worked with this agent? Or simply that they see this person's name all the time?

And once you get a couple of agent's names, then sit down and interview them. Find out how they are going to help you -- and if there is a good fit. Remember, buying a home is one of the most expensive decisions you will make. You need to trust this person is going to have your desires at heart.

But doesn't that cost me more money?
Nope. Not a dime. When the home was listed, there is a form on the listing agreement that dictates how much, if any, the selling broker will pay to the buying broker for bringing you to the transaction.

Now being totally honest, you will run into one situation where you will be asked about commission when you sign a purchase contract. And that is if you purchase a HUD home. In this case when you sign the purchase contract, you can allocate 1-5 percent of the purchase price to your buyer's agent. Understanding that the allocation will directly result in you paying more for the home.

Finally
The pay that you will give to a buyer's agent will be the same whether you call an agent before you go through your first house, or the day before you write the contract.

So get someone in your corner from the beginning -- and allow them to work for you.

Good News in Delaware Ohio: Construction!

2006-09-26T09:35:00.000-04:00

It had been a while since I walked through the M/I development off Houk Road behind the "new" Kroger on the west side.

This morning, I took my walk with Toby and it was pretty exciting to hear the sounds of construction. At least three new frames were being built in the development.

Of course, it is hard to know that the homes were being built for the "right" reason. Were these being built for a particular owner (best case scenario) or is M/I just trying to keep workers busy and building a couple of new spec homes (worst case scenario).

Don't know yet, but it was still nice to hear the sounds of construction.

Relisting Homes in Delaware Ohio is Unethical

2006-09-25T22:21:00.000-04:00

Reading through the latest issue of Real Estate Carnival, and Altos' "Crackdown on Relisting Homes" caught my attention.

So is relisting a dirty, potentially illegal, trick? Or is it merely smart marketing? Is there such a thing as "undeserved market exposure?" If I'm selling a property, it's ALL deserved, baby. Furthermore, why now?

Altos makes a great point that it is because of the "new" dual role that the MLS has found itself thrust into. And I think they've nailed it pretty close.

Traditionally, the MLS was used only by the agents and there was little reason to play the game. As a Realtor, all I have to do is hit "archive" and I find out the history for this parcel of land and the Columbus Board of Realtors.

Which makes the re-listing a "marketing" effort that is being used to "fool" the general public. The real question becomes more one of is it un-ethical or simply a nuisances?

To simply "re-list" a property to have it labeled as a new listing is simply a deception tactic. A fine-line to walk with marketing, but something that real estate agents can't ignore if they don't want to go the same route as the travel agents.

The Internet has changed the world, and the MLS has to adjust with it. That includes putting into play guidelines that protect the consumer from questionable marketing practices in the MLS.

But that's just my take and what do I know. I'm just a dog.

Delaware Ohio Real Estate Slowing Down -- More Proof

2006-09-25T21:26:00.000-04:00

Received Building Bridges, the newsletter by the Delaware County Engineer, today and it has even more proof that the Delaware, Ohio market is slowing down.

Year	Subdivisions	Lots	Roads
2001	87	2,253	15.13
2002	62	1,516	28.21
2003	63	1,590	14.02
2004	37	860	9.73
2005	42	664	17.01
2006 (thru 8/1)	20	271	5.6

Pro-rate 2006 through the end of the year and you are looking at...

Number of Subdivisions: 34

Number of Lots: 464

Number of Miles of New Roads: 9.59

The number of lots is the biggest decline. The Engineer's Office, under the leadership of Chris Bauserman, writes:

"Delaware County is experiencing a significant slow down in the number of new lots and streets. This trend is consistent with a dramatic reduction in new housing starts across the country."

While I have little doubt that Bauserman and his office is right, I would love to see a comparison between the other "hottest" markets in the nation. Since, Delaware County was listed as the 15th fastest growing county in the nation last year, it would be interesting to see the county stacks up across the country.

If other markets are seeing the same reduction it is very scary to be a builder. I've been hearing rumors all summer that 75% of central Ohio builders are going to be bankrupt by the end of the year. In June we laughed at it, in July it was a little more subdued, and by now it isn't funny. We are seeing builders with spec homes on the market for tens of thousands of dollars off, because they can't afford to carry the inventory.

Will make a nice Christmas present for someone.

Newest Carnival of Real Estate is Posted

2006-09-25T20:06:00.000-04:00

Carnival of Real Estate No. 11 was posted this morning on The Matrix.

What is the Real Estate Carnival? Read here

The Perfect Home in Delaware is Like the Perfect Boxer

2006-09-24T15:12:00.000-04:00

Don't mind me today, it is Sunday and I'm taking a partial day off from writing about real estate. But, I promise I'll somehow get some good information out to you today.

I like to think of the perfect home is like the perfect dog.

What makes a dog perfect for one family, might not for another -- and a home is the exact same way. It is also important to remember that the perfect home will adapt and change as your family grows and develops.

For example, the American Kennel Club (of which I'm a member) has its "requirements" for a perfect Boxer. They include:

The ideal Boxer is a medium-sized, square-built dog of good substance with short back, strong limbs, and short, tight-fitting coat. His well-developed muscles are clean, hard, and appear smooth under taut skin. His movements denote energy. The gait is firm yet elastic, the stride free and ground-covering, the carriage proud. Developed to serve as guard, working, and companion dog, he combines strength and agility with elegance and style. His expression is alert and his temperament steadfast and tractable. (American Kennel Club)

First off, what is this "him" stuff. Has the feminist movement not hit AKC yet? But more importantly, what does this mean to the dog that isn't being shown? Nothing.

I've received a lot of compliments walking through the development and I don't remember any of them saying that I was a "square-built dog of good substance". But I have had a lot of people talk about how beautiful I am (of course, I already knew this being completely spoiled). But, my point is that the temperament element is going to be a lot more important to an owner than my gait. How do I handle children? Am I going to protect the home? Other questions like that.

And the perfect dog will probably change as your life progresses. We've all heard about dogs that were sold or given away because it didn't interact well with the kids or friends of the family. (Of course, I'm sure none of these were Boxers!)

Take this same approach to purchasing a home. Remember that the home can change as your family moves from one section to another. Just because you are buying this home today, doesn't mean you have to live here for the rest of your life. Don't expect that first home to be the home you live in for the rest of your life. Find one that is perfect for your current plans and realize that it can be changed as time moves forward.

Don't forget to checkout the links on the left-hand column for my favorite links. If you are looking to adopt a new dog, please check out the many rescue options that are available. I'm a little partial to the work of the Ohio Boxer Rescue group because of the work they have done. (My best friend, Janie, was received through this program.)

Till next time, may your water dish always be full.

Delaware Ohio Real Estate This Week

2006-09-23T08:34:00.000-04:00

The week of September 16 through September 22, was a slow one in the City of Delaware. Only three homes sold this week, while 37 homes went into contract (either under contract or contingent). A break down...

Type	No.	List$	Sold$	Ft2	Bed	Bath	DOM
Active	307	$183,890	--	1,813	3	1.1	112
Sold	3	$130,600	$128,300	1,248	2	2.1	329
Under Contract	1	$207,500	--	2,425	4	2.1	93
Contingent	29	$177,634	--	1,777	3	1.1	68
Contingent/Escape	7	$180,114	--	1,660	2	1.1	244
Withdrawn	5	$182,800	--	1,961	3	2.1	88

What does this table mean?

Top Line - Type of home are defined below, No. is how many of this type reported, List$ - the average original listing price, Sold$ - how much the average home sold for, ft2 - square footage of the average home, bed - number of bedrooms, bath - first number is average of full baths and decimal number is average half baths, DOM - marks the days on market for the average property.

Active - these are homes that are currently on the market.

Sold - those where the sale was completed this week.

Under Contract - these are homes that are under clear contract, with no contingencies remaining on the contract.

Contingent - These are homes that have some type of "requirement" that must be met before the home can go under contract, and eventually sell. Most of the time contingent requirements are financing and inspections.

Contingent With Escape - This is similar to the contingent, except in this case there is an out for the home's owner. Usually this is used when the sale of home "a" requires the sale of home "b". If the owner of home "a" gets another offer on the home, they can force the hand of "home b" owner via the layout of the contract.

Withdrawn - Homes that were taken off the market this week.

Why so slow?

Of course the current economic trend isn't helping, however, the fact that the Delaware County Fair was this week had to put a damper on this week's numbers.

Going, Going, Sold!

2006-09-22T23:16:00.000-04:00

Entering into a career in real estate, they quickly tell you it could be six months before you see your first check. Well for Toby, that happened this afternoon -- after less than two months! Thank goodness, the rumor around the house was that I was going to have to start eating cat food (yuck!)

He closed on a home for Steven and Crystal Pierce in Butler on Friday afternoon in Mansfield at the Sluss Realty Office. The Pierce's have three children and their new home will make a beautiful first-time home for the young family.

Photo courtesy of Sluss Realty

Delaware Ohio's Day in the Sun

2006-09-21T08:00:00.000-04:00

The third Thursday of September in Delaware, Ohio is a self-proclaimed holiday.

Don't try to visit the bank, they close at noon.

Want to buy a house, good luck.

What is this self-proclaimed holiday? The Little Brown Jug.

While I was but a month old last year, Toby and Gretchen have been quick to share their experiences with the Jug. Toby even wrote an article for Connect2 OWU last year on the experience.

The Jug drew 53,000 people last year -- or nearly double the population of the city -- and was carried live on the Ohio News Network and was covered by media from all over the country and Canada.

The Jug is more than just "a" horse race, it is a cultural event. The parties begin almost at sun-up and carry on through the day with the final race -- the Brown Jug -- being ran in the early evening. Then the party will move to one of the downtown establishments or a personal party and continue into the night. In much the same way as the Kentucky Derby transforms Lexington, Ky. in May.

So party on Delaware!

Zillow Continues to Make Real Estate Information Cheaper

2006-09-20T18:35:00.000-04:00

"Information is cheap, don't be cheap"

It is one of Toby's favorite statements as he is building his real estate business. And, today word came out on the Zillow Blog that continues to make information cheaper.

For those that aren't aware, Zillow is a site that is working to build a database that will allow people to create a comparative market analysis for their homes. This technology will make information cheaper and continue to change how real estate agents do business.

Agents that continue to belive that their job is to provide information -- such as what homes are on the market or how much the home is worth -- are going to feel the pinch. And it could be sooner rather than later.

But does that mean that Realtors will soon be heading the way of the dinasours? Well that really depends. You see agents that are like the dinasours will become extinct, but those that are willing to be open with their clients and add value to the transaction will not survive, but they will prosper.

I was sitting here on the couch just minutes ago, when a prospective client called Toby and started asking him about a home they were considering. He talked with them for a few minutes about the home, when the conversation quickly changed. The customer had spent time on Zillow and was giving information about the home's value.

The conversation went from one of education, to one of adding value. Rather than "providing information", Toby began "adding service" to the transaction. Yes that is the value that Zillow suggests for this home, is it accurate? How does it play into the market? All the things that an agent does to earn their money, during the transaction are now being done at the beginning of the deal. And it just makes me wonder why real estate agents are wondering why the sky is falling because of this program.

Blogging Won't Change the World

2006-09-20T14:30:00.000-04:00

I was sitting here this morning thinking about what to write, when Toby decided he needed a break from his early morning routine and we took a walk around the neighborhood.

It was our typical 1-1/2 mile trip around Locust Curve – and I love these early morning trips. I get to see all the little kids waiting at the bus stop and they always spend a few minutes petting me and telling me how pretty I am. Like I didn’t know that already :-)

But on this trip, I started thinking about how blogging effects real estate transactions. I was reminded of an article that appeared on CNNMoney in January ("Blog if you love real estate") that outlined the growth of real estate blogging and how it was changing the world.

That sounds wonderful, but to be honest, it sounds a little too easy to me. Blogging is a great way to share information that isn’t covered well in the main stream media. And real estate is definitely that way, even as the dog of an agent, there are a lot of things that I don’t understand or don’t know about these transactions.

And blogs – if the writer is knowledgeable – can help. But, that requires an agent to be part of the process and how many agents want to share all the knowledge with the general public? Not many. These people are competing every single day for listings and leads – and if the agent “gives” you the knowledge and you go to someone else – they’ve given away their information. (Not that Toby, or many of the other “new-age” agents, believes this of course.)

But even worse is that blogging is too anonymous (come on, this is being written by a dog) to really make a huge difference in the specific markets. “Blog if you love real estate” quotes "Blogs are telling it like it is at the street level," said Brad Inman of Inman News, a large real-estate news service. Inman said real-estate blogging began in the Bay area, took hold in New York and has now spread nationally.

But can you believe the word on the street? And why should you believe this person?
If someone is writing that “Builder X” does horrible work, what does that mean to you as a potential consumer? Is this a person that is out to ruin him? Is the writer a real concerned person or simply a former employee or – worse – a rival builder that has an axe to grind with the new builder in the neighborhood?

All that being said, I think blogging is a good thing about real estate. There are lots of things that can – and should – be shared without damaging the reputation of agents. As Toby is quick to say, “Information is cheap, don’t make yourself cheap.”

So until next time, may you be flea free!

Sadie Lynn

Welcome to Delaware Ohio Real Estate From My View

2006-09-19T14:00:00.000-04:00

Hi!

I'm Sadie Lynn, the just over one year-old boxer, that is very tired of hearing about real estate.

One of my owners, Toby Boyce, left his job in public relations at Ohio Wesleyan University to become a Realtor with Disbennett Real Estate Company. He's enjoying his new career, but the one downside is that he works from home. Gone are my hours of relaxation in my cage.

Well, since I've got to be up during the day, I decided to be productive -- and you're going to reap the rewards. I'm going to share the information that Toby shares with me -- think of me as Duke (of Bush's Baked Beans fame) only I'll actually give you the "secret recipe."

The recipe for this blog, was created by Toby, who originally toyed with publishing an online newsletter that would be distributed to all his clients. But his experience with blogging on Independent Thinking and Ohio County Project made a blog appear to be the better idea. So we started chatting and in return for a portion of the profits -- payable in toys and Filet Mignon -- I agreed to write these posts for him.

What will we cover? Real estate for the most part. Focusing primarily on Toby's primary markets in Ohio consisting of Delaware County, Republic, and Danville. But we'll also do nationwide interest posts, some very local posts (like the Locust Curve development that I call my domain), and even some "fun" posts that I just want to write.

We'll also be starting an "ask the dog" segment where we will respond to your questions about real estate. Drop me an e-mail at sadie@tobysellshomes.com and we'll get an answer as soon as possible.

Until the next time, Sadie

Explaining the Options

2006-09-18T18:04:00.000-04:00

Full service brokerages – and agents – are not for everyone. That may seem odd for me – a full-service agent – to tell you. However, there are a lot of instances where a full-service brokerage can offer you more than you realize.

I liken it to a career similar to an accountant. The more money the deal involves the more likely you are to have your taxes done by an accountant. If you are selling a single parcel of land for a couple thousand dollars to your neighbor – the deal is pretty simple and straight forward.

The basic ways to sell a house are by owner, a limited brokerage, and a full-service brokerage. What is the biggest difference between these three? Money and time.
When looking at the choices, you have to ask yourself “Which do I value more?”

A basic rundown of the advantages and disadvantages of the options:

For Sale by Owner
The advantage is that you don’t have to give a commission to a licensed real estate agent. But a major disadvantage is that you will not have access to a Multi-Listing Service, which will limit your home's exposure. But even more important is the time commitment that you’ve made to selling your home. Not only are you now you doing the staging and prepping – but also the marketing, advertising, and promotion. Not even mentioning what happens when you get an offer.

The majority of For Sale by Owners are eventually pulled off the market and listed with an licensed sales agent. Why? The data shows that people underestimate the time it takes to sell a home.

Alternative Brokerage
These are emerging throughout Ohio and offer a lot of alternatives in our increasingly busy world. The concept is that alternative brokerages will – for a fee – provide you with an a la carte selection of items. For sale signs, listing in the MLS, postcards to area homeowners, and other items can be purchased for a fee. The advantage is that it will reduce the cost of the transaction, while the downside is that you may not have the attention that you should be receiving from a full-service broker. Again it comes down to time, you have less time invested (but more money) than selling it on your own. But there is still quite a bit of time invested in this process for the homeowner.

Full Service Brokerage
The traditional approach with a listing agent working to sell your home for a percentage of the sale price. Hopefully, you’ll be getting superior service and will have the least amount of work with a full-service brokerage, but you will also pay the most. However, a good agent will be more than a “promoter” of your home. She will work with you to find the best possible offer – which may not always be the highest offer – and give you the expertise that they’ve developed in the field.

He's Finally Legal

2006-07-29T12:58:00.000-04:00

All this work finally paid off.

The state finally put the small link on its Web site that said “Approved”.

No balloons. No confetti. But, then that just wouldn’t be me.

I’m finally a licensed real estate agent and within the past couple of hours have paid my dues to become a member of the Delaware County Board of Realtors – so I’m also now a Realtor.

It is a wonderful feeling and I’m excited to get this new career rolling. It seems so long ago – yet only a month – that I was sitting in the office at Ohio Wesleyan dreaming about ways to take my career to the next level. Now I’m sitting here in my home office, praying that I’ve made the right decision.

But, I’m confident it has been the right decision. It seems that every time doubt creeps into my mind – another positive affirmation comes along to keep me excited. For example, just hooking up with Rod and Disbennett Real Estate was completely by coincidence.

For years, I have considered a career in real estate and turned down opportunities to go into work with other brokers for various reasons. A chance encounter with Rod and a weekend later I’m making plans to enter the profession.

Another was the test. As I prepared the stress was unbelievable – as to be expected – and then I take the test and score a 91 (out of 100) on the national examination and an amazing 100 on the state portion. The 100 was the first one that the workers at the testing station or Hondros College had ever seen.

So here I sit, feeling like that merchant that has just opened a business. Everything is all shiny and new, but still waiting to be discovered.

Hopefully that will be changing soon!

by Toby Boyce