At Home with Connie Sadowski, Real Estate Expert

  Home Values Rise Even as Median Prices Fall Headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a   buyer   or   seller , it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story. Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create. Homes on the Market Right Now Are Smaller The biggest reason for the dip in median price is the size of homes being sold. The median price reflects the middle point of all the homes for sale at any given time. And that’ll be affected by the mix of homes on the market. To show you how this works, here’s a simple explanation of a median ( see visual below ). Let’s say you have three coins in your pocket, and you decide to line them up accor

August 2024 Central Ohio Housing Report from Columbus REALTORS® As mortgage rates reach their lowest point since February 2023, inventory in central Ohio steadily increases but still very low inventory remain, we are in a strong Sellers market. Lower interest rates historically  bring a flood of new buyers into the home buying market. With school in session a month now, we will also see more Buyers re-enter the market in the next week. Sortable Housing Stats by School District/County Central Ohio Housing Statistics COLUMBUS, Ohio (Sept. 19, 2024)— August saw 2,738 closed sales in the Columbus & Central Ohio Regional MLS, marking a 4.8% decrease year over year. Despite the slight decline in sales year-over-year, inventory continued its steady rise in the latest housing statistics issued by Columbus REALTORS®. August was comparable to July in terms of closings. Last month, there were 2,806 sales, resulting in a 2.4% decline compared to August. Despite the slowdown in August, year to

"Don’t Be Afraid to Sign" in its entirety originally appeared in the June 2024 issue of COMO Business Times Connie Sadowski, Realtor is a leader in  the industry and has been using Buyers Exclusive Representation agreements since 2017 to explain how she works and how she earns her professional fees. The real estate  industry has been buzzing with a recent federal class action lawsuit settlement. One of the settlement’s most significant outcomes is the requirement of Buyer’s Representation Agreements.  Starting in August 2024, all real estate professionals who are members of the National Association of REALTORS will be required to have a signed Buyer’s Representation Agreement before showing a buyer property.  These agreements, which allow a real estate broker to represent a buyer’s interest in a transaction, have been used for years. However, some buyers are hesitant to sign an agreement before viewing a home, but it’s to their benefit to do so.    Every potential buyer of a

  COLUMBUS, Ohio (Aug 22, 2024)—  Columbus Realtors reports closed sales are up 12 percent, and inventory has surged to its highest point in five years in the latest housing statistics for July issued by Columbus REALTORS®.   There were 2,806 closed sales in July, a 12 percent uptick over July 2023. The most significant rise came in total inventory, which increased from 3,137 homes for sale in July 2023 to 4,325 homes for sale in July 2024. That’s a 37.9% increase year over year. It also marks the largest number of homes for sale in a single month since November 2019.   The median sale price in central Ohio is $327,250, a 3.9% increase year over year. Last month, it reached an all-time high in the region at $334,900.   “The fact that there are over 1,200 more homes available on the market right now than this time last year is a positive for prospective home buyers,” said Columbus REALTORS® President Scott Hrabcak.   “Columbus remains an in-demand seller’s market, but having nearly two

By Ashley Fahey – Editor, The National Observer: Real Estate Edition, The Business Journals Restrictions around building new housing is a commonly cited hurdle to affordability in many U.S. markets.   Housing affordability is becoming a bigger issue for U.S. voters, spurring policymakers — especially at the state and local levels — to consider new measures aimed at easing the burden facing both renters and prospective homeowners.   While every city, county or region thinks about housing affordability (and potential solutions) differently, several common policy changes are being pursued, especially to ease restrictions around building new housing. New research from the Mercatus Center at George Mason University in Arlington, Virginia, outlines some of the biggest reforms being adopted across the U.S. today and offers a menu of potential options for policymakers to consider. Emily Hamilton, senior research fellow and director of the Urbanity Project at the Mercatus Center, said even

Favorable Inflation Data August 13, 2024 Overview: Over the past week, investors were focused on two key monthly inflation reports. In some good news for mortgage markets, all the data was in line with or below expectations, clearing the path for Federal Reserve rate cuts later this year. As a result, mortgage rates moved lower. The Consumer Price Index (CPI) is one of the most widely followed inflation indicators. To reduce short-term volatility and get a better sense of the underlying inflation trend, investors typically look at core CPI, which excludes the food and energy components. In July, core CPI was 3.2% higher than a year ago, which is down from 3.3% last month. It’s the lowest annual rate of increase since April 2021. Although this annual rate has fallen sharply from its peak in September 2022, it is still far above the readings around 2% seen early in 2021, which is the stated target level of the Fed. The primary reason is that shelter (housing) costs remain stubbornly