columbus building boom Andrew ShowColumbus has become a magnet for young adults seeking housing affordability and career opportunities. Between 2010 and 2018, population growth in Columbus has exceeded 13%, bringing an economic boost that shows no sign of slowing down.

Powerhouse tech employers such as Facebook, Google and Amazon are expanding their presence in the Columbus Metro, while 300 other development projects are in progress. According to a report by Construction Dive, the Columbus Metro has over $4 billion in new development starts this year, including residential housing, commercial property and public works projects.

As of August 2019, non-residential construction activity is up 38% compared to last year. Residential housing starts are up 6% year-to-date. New housing development has been taking place in the Columbus suburbs and in previously overlooked areas within the city proper. Among the most notable is the Scioto Peninsula project, a $500 million mixed-use development that will add three residential buildings, two hotels and an office building.

Ohio State University is part of the building boom, with projects worth $2.4 billion slated during the next five years. Meanwhile, a new $300 million soccer stadium for the Columbus Crew has broken ground in downtown Columbus. New medical facilities, retail centers, restaurants and professional services are in the works throughout the area.

For Columbus home buyers, the boom can be a mixed blessing. On one hand, you can reasonably expect your home value to improve if you buy wisely, and if the local economy remains strong. But with home demand still outpacing supply, home prices have been steadily rising, creating a higher barrier to entry for first-time buyers.

Fortunately, having the guidance of an Exclusive Buyer’s Broker can help you navigate our ever-changing real estate market! As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

Franklin County real estate conveyance feeEffective October 7, 2019, all home sales in Franklin County will be subject to higher conveyance fees. The conveyance fee has increased by $1.00 per every $1,000 in sales price, bringing the total conveyance fees to $3.00 per every $1,000 in sales price. For example, on a $300,000 home sale, the conveyance fees would amount to $900.00.

Franklin County homeowners can use an online calculator to estimate their conveyance fees at franklincountyauditor.com.

The new conveyance fee will be used to boost funding for the development of affordable housing units in Franklin County. While Franklin County already directs a portion of conveyance fees to affordable housing, it’s estimated that the county will see a 50% increase in population by 2050. The fee increase is intended to meet the future housing needs of a growing population amid ever-rising real estate costs.

With the increase, Franklin County’s conveyance fee is on par with Delaware, Licking, Madison and Pickaway counties.

Conveyance fees are part of the home seller’s closing costs, and do not directly affect home buyers, per se. But whenever the cost of a home sale goes up, it can mean that home sellers will be less generous when negotiating with buyers.

But don’t worry – we know how to put purchase offers in the best possible light, and how to successfully negotiate the best price and terms for our Buyer-Clients!

As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.

Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!

Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!

Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services, www.buyershome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax

Columbus Area Housing Market Among Healthiest in U.S.

September 17, 2019

Columbus real estate has bubbled up on another media list! A report by SmartAsset, a financial technology company, named the Columbus area real estate market as one of the healthiest in the country, placing it #86 nationally and #2 in Ohio. What exactly is a “healthy” real estate market? In the case of the SmartAsset […]

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For Millennial Home Buyers, the Struggle is Real

August 9, 2019

Home ownership has begun later in life for this generation of young adults. For years the media assumption was that Millennials were unmotivated by home buying and unready for the financial responsibility that went along with it. But when a study by Business Insider crunched the numbers, it demonstrated that economic headwinds, more than personal […]

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Mistakes to Avoid When Buying a Columbus Home

August 9, 2019

A new home buyer survey reported by CNBC shows that buyer’s remorse has been on the upswing. One reason is the limited inventory of affordable homes facing buyers around the country. With little to choose from for the money, some buyers purchased homes that they quickly outgrew. Others purchased homes that needed more repairs than […]

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Mortgage Pre-Approval Remains Essential for Columbus Home Buyers

May 4, 2019

Quick! How much home can you afford to buy? The answer might seem simple, but it isn’t! Columbus home buyers need to understand the difference between a mortgage pre-approval, and a mortgage pre-qualification. A mortgage pre-qualification is an informal estimate of your home buying power, based on unverified information you give to the lender. Lenders […]

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Popular May Events in Central Ohio!

April 29, 2019

There’s plenty to do in Central Ohio during the beautiful month of May! Here’s a sampling of the special events taking place around the Metro Columbus area. Blooms & Butterflies, Franklin Park Conservatory – Columbus. May 1 – May 31. 10:00 a.m. – 5:00 p.m. daily. See hundreds of butterflies milling amongst the flowers in […]

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Home Buyers Should Compare 30-Year and 15-Year Mortgages

March 16, 2019

For most Columbus home buyers, the 30-year, fixed-rate mortgage is the loan of choice. The long repayment period makes home ownership more affordable, enabling you to buy more home for the money. But before you lock in 360 consecutive mortgage payments, you should give consideration to the 15-year term. A 15-year fixed-rate mortgage will save […]

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First-Time Home Buyer Survey Shows Common Regrets

March 6, 2019

Buyer’s remorse can affect any home buyer. This was shown in a 2018 survey conducted by Porch.com, which sampled three generations about their first-time home buyer regrets. Before we go further, it should be noted that about half of the 1,000 first-time buyers surveyed were “mostly satisfied” with their first home. One must keep in […]

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Columbus Stands Among Best Cities for First-Time Home Buyers

February 27, 2019

A new study by LendingTree places Columbus in the top ten cities for first-time home buyers, ranking us #7 out of 50 major metros. Here’s what the study says about Columbus home buying opportunities! The study is based on LendingTree’s own opinions of what makes a city “friendly” to first-time buyers, backed by their own […]

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