AmericanDreamTown.com

Columbus real estate

May 18, 2010 // Comments Off

The Columbus real estate is facing mixed signals, with some suggesting that a recovery might be imminent and others pointing towards a continued slide. According to an April 23, 2010 article in the Columbus Dispatch, “Propelled by bargain prices and the imminent end of a federal tax credit, homebuyers snatched up properties throughout central Ohio and the rest of the nation in March. In the Columbus area, 1,704 homes changed hands during the month – 25 percent more than in March 2009. Statewide, sales rose 15.5 percent, and across the nation, they were up 6.8 percent.” The piece, written by Jim Weiker, continued to say that “Central Ohio homes sold for an average of $151,719 in March, 6 percent more than a year ago. The average home sold in 89 days, almost three weeks faster than last March. Real-estate agents and builders are reporting a rush of activity as buyers try to claim up to $8,000 in tax credits.”

Commercial real estate continues to be one problem for the Ohio and Columbus real estate markets. According to a Mary 11, 2010 article from WKYC News, “As home foreclosures continue to sweep the country, experts say the next shoe to drop will be in the commercial real estate market. Between lenders and unemployment numbers, the perfect storm is about to hit according to real estate analysts. ‘Well, commercial real estate tends to lag behind the residential,’ says George Pofok, Vice President at CRESCO Real Estate.” The piece, composed by Kyle Maureen, continued to say that “The writing is on the wall. Signs are everywhere that the commercial real estate market is in jeopardy. For lease, for sale, and some, foreclosure.”

Foreclosures were another potential stumbling block for Columbus homes for sale, according to an April 30, 2010 article in Business First of Columbus. The article, written by Kevin Kemper, found that “Home ownership in Central Ohio has continued its dramatic erosion this year as another wave of foreclosures washes over the region. Despite the improving economy and the best efforts of the homeowner-assistance programs, 3,714 foreclosure-lawsuits were filed in the eight-county Columbus region in the first quarter, up 5.4 percent from a year ago.”

Posted in Ohio