Central Ohio Real Estate Cafe'

So your Realtor® has taken you to meet a builder and after a long seemingly endless search you have finally found your "Dream House." 

Later as you ponder your good fortune you receive an unexpected call from the builder with more ‘good news.'   He tells you that you can save yourself 3% if you ditch your agent and work directly though him.   Wow, no brainer you think.  You even mange to convince yourself that if your agent really cared about your well being they will be happy to see you save money. Heck even if they are not happy, these are tough economic times and savings are savings. 

Needless to say your agent will not be thrilled with this news for several reasons: 

•1.        It violates the trust the agent displayed by bring a potential customer to this builder

•2.       This situation leaves the client without representation

•3.       It reduces the value add service agents provide to only 3%  of which most skilled agents would have gotten for their clients anyway oftentimes even more than 3%

As a buyer if you find yourself in this situation there are a couple of key things you should keep in mind:

•1.        The building process spans months.  During the process there are always issues that arise.  An experienced agent can not only successfully guide you through the difficult times quite often they are in there fighting to make sure things are going smoothly and you are satisfied.

•2.       If the builder is so unethical that he would to something like this to an agent that brings potential business to him what makes you think that he wouldn't hesitate to be unethical in his dealings with you?

In a recent new build transaction I was able to get my clients 5 ½% off the list price and a 42" flat screen TV.   

 If you are ready to buy or sell Central Ohio Real Estate give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com

Although 2009 was another challenging year for Ohio Real Estate it shaped up to be slightly better than 2008. The first time home buyers tax credit helped many central Ohioans realize their dreams of home ownership. Below is a quick snapshot that tells us a little about the typical 2009 central Ohio home buyer.

• 47% Were First Time Home Buyers
• Median household income for first time buyers was $62,800
• Median household income for repeat buyers was $89,700
• 20% of the buyers were single females
• 10% were single males
• Median age of First time buyer was 28 years
• Median age of repeat buyers was 45 years
• Typical Home buyer searched for 10 weeks and looked at 14 homes
• 83% Purchase Single Family Detached Homes
• Typical Square Footage of Home was 1800 sq. ft.
• 59% Said that First time Tax Credit was a Factor in Purchase
• 81% of Buyers used a Real Estate Agent to purchase their home
• The median purchase price for a central Ohio home was $165,000 compared to $185,000 nationwide.

With the extension and expansion of the first time home buyers tax credit there continues to be optimism that 2010 will be a better real estate year. If you are ready to explore your real estate options please give me a call at 614-273-6406 or email me at Vanessa.simmons@realliving.com.