Marysville, OH

Submitted by Vicki Owens, ABR, RSD, RECS, Andy & Associates, Realtors

As of July 12, there are 200 homes available for sale. Prices range from $18,300 for a mobile home to $975,000 for a large estate on acreage. The averages are 2138 square feet for a list price of $203,070. There are currently 38 homes reported as in contract or contingent on sale. Inventories are down in the under $150K price range and these homes have been selling faster than other ranges. The $8000 first time buyer tax credit, low interest rates and special loans available in our area could be a good reason for that. The inventory is moving quickly which is an indication that we could have very well "bottomed out" and we will see prices begin to recover a bit. The market is showing about 35% of available homes are "challenged" sales, which means foreclosed or 'pre-foreclosure' short sales. More of these homes will likely come available on the market soon now that the moratorium on foreclosures has been lifted by the government.

From January 1 thru July 12 of this year, there were 150 homes sold. The average days on the market was 97 days, the average square footage 1,810 with an average list price of $158,044 and average sale price of $151,262. Only 4 of those sold properties were over the $300,000 price range, and 25 sold between $200,000 & 299,999. So 121 of the homes were sold at $199,999 or less and within 96% of their listed price. The least sold price was a mobile home sold for $10,000, the most, a large home with acreage at $385,000. These statistics are taken from Tempo MLS service used by the Columbus Board of Realtors.

Historically, compared to the same time in 2008, there were 180 homes sold, 30 more than the same time this year. The average days on the market then was 118, the average square footage 1935, with the average list price being $176,637 and sold price of $169,879. 12 of those were sold for over $300,000, and 37 between $200,000 and $299,999. So 131 were sold at $199,999 or less. The least reported was a mobile home sold for $9,500, the most, a larger new home at $635,000. Again, these statistics are from the MLS as reported by real estate brokers in the Marysville School District only.

Overall, sales volume and prices are down. However, the good news is, days on the market are 97 vs' 118 the same time last year. Again, less inventory and more buyers entering the market due to incentives is a good sign that the market is beginning to recover. Keep in mind, historically prior to 2006 appreciation rates in our area were only 2.5-3%. Also, our market has not been hit the hardest by the real estate downturn. Average prices in the Hilliard, Delaware and other Columbus areas have taken a larger hit and are now reported to be below $140K. Many of those areas enjoyed 5-8% appreciation back in the top end of the market 3-4 years ago.

Financing is available but has shown to be a longer closing time for buyers due to the lenders demands for documents and paperwork. There are still 0% down programs on low fixed rates, FHA raised down payment requirements earlier this year to 3.5% down. PMI guidelines have also tightened and have caused some delay and even denial of some sales for programs where it is required. Appraisers are now under strict guidelines and must consider current market conditions closely adding additional work and sometimes delays with appraisals. Investors have been put under pressure with new guidelines limiting the number of homes they can purchase as investments and commanding 20% down payment. There are homes that need a lot of work at very low prices that are not finding buyers in part due to these rules. Homes with safety issues or in need of expensive mechanical systems (septic, well, HVAC, roof) are challenged to find an investor or bank that can or will finance them.

With questions, or help with buying or selling your home, contact Vicki Owens of Andy & Associates, Realtors locally by phone at 937-644-3385, cell: 614-440-5174, via email at vicki_owens@hotmail.com or visit her website www.movetomarysville.com. She is a native of Central Ohio and a 10 year resident of Marysville, operating her local office in the McCarthy Financial Advisors building at 127 W 5th Street uptown. Serving Marysville/Union County, Ohio since and selling over 12 Million in sales volume 2003. Also serving Franklin, Delaware, Madison, Logan and Champaign county areas.

Submitted by Vicki Owens, ABR, CRS, GRI, Branch Owner/Agent, Andy & Associates Realtors, Marysville Office

As of February 14, 2009, there were 215 residential properties listed for sale in the Marysville Exempted Village School District. There are 35 homes reported to be in contract and pending the close of the sale. Year to date, 20 homes sold since January 1.

From January 1-December 31, 2008, 331 homes sold for the year. The average list price of a home was $169,047 and sold price $162,889 with market days for sold listings averaging 107. Homes are selling within 96% of their listed price on the average.

Compared to 2007, 385 homes sold . The average list price for 2007 was $171,078 with the average sold price of $165,113. Days on the market average was 111 days. In review, 44 less homes were sold in 2008 than in 2007 and for about $3700 less on the average taking just a few less days to sell. These statistics used are per the Columbus MLS for homes listed in the Marysville Exempted School District only, not including all of Union County. They are a compilation of listings through the Columbus Board of Realtors as reported by agents and participating builders.

Comparatively speaking, even in other market areas of Central Ohio, we have weathered the market downturn quite well in the past 3 years. There is no question that now is a great time to buy with mortgage interest rates now around 5% and tax incentives! Qualifying for a loan still remains more difficult than prior to 2007. If your FICO score and debt ratios show evidence of responsible spending and steady employment, there are still solid programs to choose from. Many Union county properties qualify for USDA financing at low rates and zero down payment. Ohio Bond Money down payment assistance for first time home buyers is also available again soon. VA programs offer no money down programs. The most popular FHA programs now require a 3.5% down payment. If an FHA loan is utilized for a HUD owned property, there is a $100 down payment program available. Ask your banker or Realtor for more details!

The number of foreclosed homes for sale has remained steady since 2007. We have seen an increase in the number of pre-foreclosure sales (short sales). These homes are all competition for the pre-owned home market and have resulted in lower home prices overall. Buyers contemplating the purchase of a home should seek the assistance of an experienced real estate agent to guide them through the process. There can be a sea of paperwork and waivers involved and when making an investment in property, it is important for the consumer to be aware of exactly what and whom they are dealing with in a purchase. If a buyer is seeking a move in ready property, foreclosed homes may not be the best buy-there are many homes in great condition for sale at very competitive prices.

For more information about our market, if you have a home to sell or are looking to buy, Vicki Owens of Andy & Associates, Realtors, is our area's only Certified Residential Specialist (CRS) and the WSYX/FOX28 TV area specialist offering highly recommended services in Union County since 2003. Also assisting clients into Franklin, Logan, Champaign, Madison and Delaware counties. Contact her locally at 937-644-3385, visit her website at www.movetomarysville.com or email Vicki at vicki_owens@hotmail.com Copyright 2009 Vicki Owens, Andy & Associates, Realtors

Submitted by Vicki Owens, ABR, CRS, GRI, Andy & Associates, Realtors Marysville

Here it is, another holiday season. If your home is or has been on the market this year without an offer, you are not alone. So what does it take to win over that buyer in today's challenging market?

· See Your Home from the Buyer's Eyes by asking yourself one of the toughest questions that you can. If you were on the market to buy, what would you pay for the home today? Forget your memories there and the money you've spent to maintain or update. What would you honestly pay? Look at it as your product to market, not your home.

· Do Your Homework by looking at what homes comparable to yours, in your neighborhood or vicinity and what they have sold for in the last 90 days. Not last year, not the last appraisal, but what buyers are truly spending now for a home reasonably comparable to yours. (And yes, bank, corporate owned and short sales DO make a difference on where yours will be priced to win)

· Make It Sparkle by doing the hard things that no one wants to do. Wash the windows, pull the weeds, clean the basement, get rid of the clutter and junk. Buyers want a home that they can move right into. You may have to remove the wallpaper, paint, clean carpets, and store away some of your furniture. It needs to show like a model home that the owners have taken great care of.

· Get Quotes if your home needs repair. Take a good look at the roof. If it needs replaced, call a roofer and get a quote. If it needs windows, carpet or flooring, get a quote. Have in writing and face what needs to be done head on.

· Know Your Competition by looking at what is currently out there on the market that buyers will be touring when they come to see yours. Look at how long those homes have been on the market and keep in mind that you want yours to be the one they pick to offer on.

· Face Reality On the State of the Market and know that the prices have declined by as much as 20% in the last 3 years. If you purchased your home in 2004 or 2005, you may have paid more then than the market will bare today. You may only be able to get what you paid for the home or even less. If you have little equity and are not in a position to sell now you may want to wait longer with plans to move on if you can. Pricing your home too high by just a few thousand in this market can lead to disappointment. In fact, if you are ready to move fast, you may want to price a few thousand lower than your competition and showcase your home beautifully. Again, what would you buy??

· Call Some Professionals, have the home inspected by a home inspector for condition, termites or gas leaks. Call an appraiser to have the home appraised at today's fair market value. An appraisal by a qualified home appraiser who does work for the banks should be able to provide an unbiased assessment of your home's value. The appraisal you had done for a refinance or second mortgage a few years ago is not one that would be accurate for resale of your home and is only good for up to maybe 180 days.

· Talk to Several Agents to see what their strategies, track record and experience has been in servicing your area. Find agents that know the area, have experience with today's market, know the pricing, market aggressively and are currently selling homes.

Regardless of the peppered opinions of the press, the American Dream is still alive and being a homeowner is still desirable. Yes, many potential home buyers have been on the fence for quite awhile waiting to see what is happening with the market. They fear paying too much for a home, or worse, facing foreclosure. There are still many able folks out there who want to be the owner of a home but have been jaded by the media.

Keep the faith that this will change. Home prices are low and so are interest rates and they will find when they start their research that this is a great time to be buying. Homes are still selling, banks ARE still lending and buyers are buying, just at a slower pace. Patience is a virtue, but your home can be positioned correctly to sell and win in today's market. Your commitment to be a winner is essential to captivate the right buyer, unfortunately, that may mean some sacrifice for you to succeed in this market.

Vicki Owens is a top selling, full time real estate agent with advanced education, successful track record in our local market that comes highly recommended by clients. For a positioning analysis of your home call her at 937-644-3385. For more information, visit her website at www.movetomarysville.com Listed before and considering trying again? See www.listitagain.com

Copyright 2008, Andy & Associates, Realtors

Above shows a report and breakdown of all the markets activity in the last 15 months in Marysville, Ohio. This is straight from a Trendgraphix report. For April of 2007 the market in Marysville had 43 more homes than April of 2008 this shows me that the market in Marysville is starting to equal itself out from being a dominant Buyer's market. There are a lot of valuable statistics within this chart. I can also research particular price points to see what going on with that particular market. If you would like for me to do a personal search for a particular market please email me at Jamie.Collins@RealLiving.com. I will continue to offer Sellers and Buyers valuable information to help better info the community. Have a great day.