At Home with Connie Sadowski, Real Estate Expert

  December saw a 5.7% decrease year over year in closed sales as the median sales price rose 7.3% in the latest Central Ohio Housing Report from Columbus REALTORS® As the central Ohio housing market embarks on a new year, we look back at the final month of 2023. In December, there were 1,917 closed sales in the Columbus & Central Ohio Regional MLS, a 5.7 percent decrease over December 2022. The median sale price grew to $295,000, a 7.3 percent increase year-over-year.   In the peak of summer sales, homes in the region were spending about 17-18 days on the market. In December, that number rose to 30 days, the highest number since March.   The total inventory of homes for sale surpassed 3,000, marking a 9.7% rise over last December. Supply sits at 1.4 months, which is a 27.3 percent increase year-over-year. New listings in December were typical for a month that is traditionally sluggish in this category.  There were 1,434 new listings entered into the MLS in December 2023, which was

  If you're in a financially stable position, now might be the perfect time to embark on your homeownership journey. Buying a home today offers several advantages, including the opportunity to build equity and stabilize your housing costs in the face of rising expenses. Explore the reasons why purchasing a home now can be a wise decision in the current market. By purchasing a home today, you can start building equity, which is an investment in your future. Additionally, opting for a fixed-rate mortgage allows you to stabilize your monthly housing costs for the long term, even as other expenses continue to rise. This stability provides peace of mind in an ever-changing financial landscape. While housing costs experienced significant increases in 2021 due to a combination of factors, such as inflation, high demand, and low supply, the market has since moderated. If you decide to buy now, you can expect relatively stable house prices and potentially face less competition from other bu

  Mortgage Payment App Calculate payments  continue  here Cost of Waiting to Buy App I may hold off buying now,  calculate cost  here Rent V Own App  Buying a home can be confusing, calculate the cost of Rent v Own  here Buying Can Be Confusing Get a professional on your side to give you all the information so you can make informed decisions. Get Buyers Guide  here Interest Rate Affects Price Calculate how interest rates affect the monthly payment, calculate  here Why Rent? Can I Buy? Contact Connie, no obligation, let’s find out if you can buy, if not now, I will help you come up with a plan for future purchase! Name Email* SEND This site is protected by reCAPTCHA and the Google  Privacy Policy  and  Terms of Service  apply.

  The Fed's pivot from 'maybe more hikes' to 'cuts next year' had the markets in ecstasy. The Dow and S&P 500 hit all-time records. The yield on the 10-yr US treasury went below 4%. And average 30-year mortgage rates fell to 6.6%. That's a decrease of nearly 150 bps (1.5%) in just two months. ListReports  

  It could still be costing you more to rent than to own considering renters don't benefit from a home's appreciation and natural amortization of a fixed-rate mortgage.

Waiting for the mortgage rates to come down before you buy a home may not be a good decision.   If you are correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase.   An example: The 30-year fixed-rate was at 6.33%.  If the rate drops to 4.7% in three years but the price increases by 5% a year, a $400,000 home today, will cost $463,050 three years from now. An increasingly, popular option that more buyers are considering is to purchase the home today with an adjustable-rate mortgage that could give them an approximate 5.00% rate for five years.  Then, refinance to a fixed rate when rates come down.  Not only will the buyer have lower payments with the ARM, but the buyer will also own the home, and benefit from the appreciated prices which will build equity in the home and increase their net worth. Mortgage rates increased over 3% in the first three quarters of this year and in 2022.  Som

Time to dream: Considering a move to Worthington, Sunbury or further? No matter where your dreams take you, the   CB® Move Meter   provides you a side-by-side comparison of the cost of living, quality of life and even job market strength for your  hometown vs. cities all across the U.S.  --Connie Sadowski, Realtor MOVE METER START HERE

  Resources for Ohio homebuyers are available through the Ohio Housing Finance Agency (OHFA). Click here OHFA's Grants for Grads Program. Grants for Grads includes 5% down payment assistance for homebuyers who have received an associate, bachelor's, master's, or doctoral degree within the last 48 months. The assistance can be used toward a down payment, closing costs, and other prepaid expenses incurred prior to closing.  An example of the Grants for Grads Program Purchase Price $200,000  FHA Loan 3.5% down payment requirement  5% Grant for Grads= $10,000 towards a down payment, closing costs and prepaid expenses.  Find Homebuyer eligibility information including qualified lenders, credit score requirements, income limits and more information https://myohiohome.org/downpaymentassistance.aspx  For any questions about the Grants for Grads Program, please drop us a line!