Short Sale Approvals on the Decline as Home Prices Rise

After a surge in short sales from 2010 through much of 2012, this favored disposition method for distressed properties is shifting back toward the more traditional foreclosure auction sales and bank-owned sales, this according to the latest report from data aggregator RealtyTrac.

The national median sales price of all residential properties — including both distressed and non-distressed sales — was $170,000, unchanged from September but up 6% from October 2012, the 18th consecutive month median home prices have increased on an annualized basis.

 

The median price of a distressed residential property — in foreclosure or bank owned — was $110,000 in October, 41% below the median price of $185,000 for a non-distressed property.

“The combination of rapidly rising home prices, along with strong demand from institutional investors and other cash buyers able to buy at the public foreclosure auction or bank owned REO sale, means short sales are becoming less favorable for lenders,” said RealtyTrac Vice President Daren Blomquist in a statement.



Inventory shortages are part of the picture — last week Lender Processing Services reported that after 18 straight months of declines, U.S. foreclosure inventory is now at its lowest point since the end of 2008, falling nearly 30% from just one year ago to 1.28 million in October. RealtyTrac said short sales represented just 5.3% of all sales in October, down from 6.3% in September and 11.2% at the same time a year ago.

Foreclosure auction sales to third parties (a new category, separated out in the report for the first time) represented 2.5% of all sales, down from 2.8% in September but nearly twice the 1.3% seen at the same time a year ago. Sales of “real estate owned” (REO) homes repossessed by banks accounted for 9.6% of October sales, up from 8.9% in September and 9.4% a year ago.

Talk of institutional investors being scared away by rising prices appears to have been overstated, at least in some markets. Markets with the highest percentage of institutional investor purchases included Memphis (25.4%), Atlanta (23%), Jacksonville, Fla., (22.2%), Charlotte (14.5%), and Milwaukee (12%).

Short sales haven’t gone away altogether — states with the highest proportion of short sales in October included Nevada (14.2%), Florida (13.6%), Maryland (8.2%), Michigan (6.7%), and Illinois (6.2%).



The National Association of Realtors has reported, that tight inventories and rising home prices hampered home purchases in October. Although the U.S. is still seeing “significant supply shortages,” inventories are “stabilizing” compared to the dramatic annual declines seen earlier this year, realtor.com said in releasing October data.

This trend is one that is likely to continue as prices continue to rise and demand remains high. Distressed homeowners and those who are behind on their mortgage, or upside down owing more than their home is worth and wishing to avoid foreclosure should contact a real estate agent specializing in short sales as soon as possible as possible and before getting behind on their mortgage payments if possible. For the banks/loan servicers the determination of whether to approve a short sale is simply a mathematical calculation of which sales method will serve to limit the bank's, and/or it's investor's losses. The best way to limit the bank's losses and to enhance chance of a short sale approval, is to start the process as soon as possible and before the bank has incurred additional expenses including: back property taxes, homeowner's association or condo dues, legal expenses relating to the foreclosure process, etc.

If you’re facing foreclosure you’re facing some very important decisions. We want you know you’re not alone and we are here to help with any questions you may have to assist you in making the best decisions for your situation. There is no charge for this service and we are happy to help! We offer confidential and professional real estate advice.

The Opland Group  Specializes in  Real Estate Sales, Luxury Home Sales, Short Sales  in;    Bexley    Columbus    Delaware    Downtown    Dublin    Gahanna    Grandview Heights    Granville    Grove City    Groveport    Hilliard   Lewis Center    New Albany    Pickerington    Polaris    Powell      Upper Arlington    Westerville    Worthington

Definitions

Distressed sales: sale of a residential property that is actively in the foreclosure process or bank-owned when the sale is recorded.

Distressed discount: percentage difference between the median price of distressed sales and a non-distressed sales in a given geographic area.

Bank-Owned sales: sales of residential properties that have been foreclosed on and are owned by the foreclosing lender (bank).

Short sales: sales of residential properties where the sale price is below the combined total of outstanding mortgages secured by the property.

Foreclosure Auction sales: sale of a property at the public foreclosure auction to a third party buyer that is not the foreclosing lender.

Wondering if the Winter is a Good Time to Buy or Sell a Home?

Is the housing market still seasonal? The market has been so up and down recently that the answer can depend on whom you ask, and the market you're talking about. That said, historically residential real estate sales decline in the winter holiday season and don't pick up until the weather breaks in early spring (March or April). This is the reason that data on home prices, sales numbers, mortgage rates, etc., are "seasonally adjusted."

There are compelling signs, that as 2013 winds to a close, serious home shoppers should ignore this convention and instead turn it to their advantage. Here are key factors that prospective homebuyers might want to consider before putting their quest on winter hiatus.

Mortgage rates have fallen: Primary among the reasons to move now has been the fluctuation in mortgage rates. Rates currently stand at an average of 4.39% for a 30-year-fixed loan and while it might be true that the Federal Reserve has committed for the near term to keep interest rates low by buying bonds, no one knows with any certainty when the amend it's policy. That said, there are other reasons not to delay.

Maximum loan amounts to be reduced: If you're seeking a government-backed mortgage -- as most mortgages are -- you're already restricted to getting a loan that's based on the median home prices in your desired area ($417,000 in most housing markets). And the acting head of the Federal Housing Finance Agency, Edward DeMarco, has announced that these limits will be reduced in 2014. While DeMarco assured the public in October that the change wouldn't be sudden, and that financial markets would have at least six months to adjust, why would you want to wait until then? Home prices have continued to rise through the year, and while prices tend to drop in the winter as sellers who need to sell reduce their prices in attempt to compete for a smaller pool of buyers, inventory levels are low and aren't likely to increase significantly until spring.

Loans might be tougher to qualify for, or at least require more paperwork: Starting in January 2014, in order to get a "qualified mortgage" a loan that's insured by the Federal Housing Administration (FHA), prospective homebuyers will have to make a stronger case for their credit-worthiness. Along with documents spelling out the terms of the loan, mortgage seekers will be supplying proof of current income and assets, credit history, and other debts. And then they'll have to prove that the annual amount of debt they carry is no more than 43% of their annual income. The changes, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, also mandate that the loans carry a fixed-rate and be paid over a term not longer than 30 years.

Fewer Multiple offers: Speaking of the competition, applications for new mortgages have been declining in recent months, along with consumer confidence. That should improve the chances of those willing to continue their home search, even if it means slogging through the winter weather.

Sellers might be more motivated: Just as it can show a bit more commitment to shop for a home in November and December, the same might be said for sellers, especially those who might be seeking a tax advantage by selling before the year is out, those who have grown impatient after seeing their properties fail to sell during the market's peak season, or those who are relocating for job or other reasons and need to sell.

What better time to see a home?: Sure, it might be a little tough to judge a house's curb appeal through the gloom and slush of late autumn and early winter, not to mention under the holiday lights and tinsel. But what better time to see what a home can stand up to?

It's true that there are some key areas that probably can't be inspected or tested if it's cold or snow is on the ground, such as air conditioning units (which could be damaged if operated at temperatures below 60 degrees) and irrigation systems. On the other hand, it's a prime time to see how the furnace works, how well-insulated the home is, inadequate lighting, and if there are any roof leaks.

As for those areas that cannot be inspected: If you can't wait until the weather warms to have those checked, explore a contingency built into the contract that takes care of any possible repairs, or a good home warranty.

Prospective homebuyers hoping to buy a home in the next four months say the lack of inventory is their biggest challenge, but many believe winter is a good time to buy because sellers are motivated to sell and more willing to negotiate.

The reasons most often cited for buying a home in winter were: A quarter of the winter homebuyers revealed they are in the market now because they were unable to find a home during this last home buying season.
-- 26% said they believe that sellers are more motivated to sell and willing to negotiate.
-- 24% indicated that they think home prices will be better.
-- 24% revealed that they were unable to buy a house during spring or summer.
-- 20% shared that they think there will be less competition between buyers.

While 28% said they were planning to buy a home because they are relocating, 19% were existing homeowners downsizing to a smaller or less expensive home, and 15% were move-up buyers. Nearly 1 in 5 of those surveyed (19%) said they were first-time homebuyers.

Tight inventories and rising home prices continued to hamper home purchases, with sales falling for the second month in a row in October, the National Association of Realtors reported today. There were 2.13 million existing homes for sale at the end of October, NAR said, down 1.8% from September. But at October’s slower pace of sales, it would take five months for all those homes to sell, up from 4.9 months in September. Housing analysts generally consider a six-month supply of existing homes for sale as an even matchup of supply and demand — anything less can indicate that demand has outstripped supply. Although there continue to be “significant supply shortages,” inventories are “stabilizing” compared to the dramatic year-over-year declines seen earlier this year, realtor.com said Tuesday in releasing another report analyzing October listings data.

NAR Chief Economist Lawrence Yun recently forecast that 2014 sales of existing homes will level off and be inline with 2013 sales due to factors including declining affordability, limited inventory and tight mortgage lending standards. NAR is forecasting that when all the numbers are in, 2013 sales of existing homes will finish up 10% from last year, at 5.13 million. But similar gains aren’t expected next year — NAR predicts existing-home sales will hold steady at 5.12 million in 2014.

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

Strong Backlash from Realtors Over New Website that Ranks Agents

Powered by data from multiple listing services and other statistics that can be used to gauge real estate agent performance, Realtor.com’s experimental new agent rating service for consumers, AgentMatch, is a bold move that could help the site differentiate itself from competitors like Zillow and Trulia.

AgentMatch, is currently being beta tested in two markets and has raised the ire of agents, many of whom are concerned about the validity of statistics-based rankings.

Some real estate agents are also expressing dismay that the National Association of Realtors (NAR) is allowing Realtor.com to move forward on an initiative that some feel is not in their best interests.

NAR, which holds a minority stake in Realtor.com operator Move Inc., allows the company to operate Realtor.com under the terms of a 17-year-old operating agreement. Thanks in large part to its ties to NAR, Move gets data feeds of “active” listings from more than 800 MLSs across the U.S., representing 98 percent of all MLS-listed properties for sale nationwide.

Some, but not all, of those MLSs also provide Realtor.com with sold listings data that can shed light on agent performance. Although the Realtor.com operating agreement was amended in 2010 to allow for the display of productivity statistics such as active listing counts and sold transaction data with approval from listing brokers, NAR reserved the right to sign off some aspects of implementation.

Move says it’s using only sold data from MLSs to power AgentMatch in markets where the MLSs have agreed to participate in testing.

AgentMatch, currently aimed at home sellers and available only in Las Vegas and Boulder, Colo., is designed to identify top real estate agents in a consumer’s search area through an algorithm based on recent sales, list-to-sale-price ratio, average days on market of homes listed, recommendations and other information.

Consumers can also see that information dating back six months in real estate agent profiles on the site when they search by city, ZIP code or neighborhood. The general reaction to AgentMatch from real estate brokers and agents has been overwhelmingly negative, both in the comment section of an Inman News story about the launch of the service, and on social media channels, including several Facebook groups. “I don’t think NAR should do this at all,” said David Hanna, a broker-owner in Chicago. The association should “create and maintain a business environment that we could all work with.”

Hanna said he thinks that providing quantitative MLS data to consumers presents a restricted picture of an agent’s performance.

Paul Scheufler, a managing broker with Expert Realty Services Inc. in the Chicago suburbs, said AgentMatch’s emphasis on agents’ production puts newer agents at an unfair disadvantage, and favors business models such experienced real estate agents and agent teams.

Scheufler and Hanna said qualitative data can present a more accurate picture of an agent’s value.
Hanna, Scheufler and other agents have expressed frustration with NAR for letting the controversial tool see the light of day.

“It is tough enough earning a living as a Realtor,” Scheufler said. ”Why would the association that represents us want to make it tougher?”

I personally feel AgentMatch will provide transparency and bring clarity to homeowners looking to identify a skilled and highly qualified real estate professional to aid them in fetching top dollar for their home. In today’s market it takes much more than a price and a sign to sell a home… homeowner's need an agent who has the expertise, knowledge, determination, and integrity to handle all of your real estate needs! Agent's need have a premium marketing plan that provides maximum exposure to the marketplace which will aid homeowners in their efforts to secure the highest possible price for their homes, in the shortest amount of time.

A home is an investment and for most, it is one of their largest financial assets, and one that should not be trusted to just anyone!

Negative reaction no surprise
The Houston Association of Realtors, which operates one of the nation’s largest MLSs, and Seattle-based brokerage Redfin have each experimented with MLS-powered agent ranking platforms. Both were met with loud protests from agents, and were short-lived..

After HAR pulled the plug on its attempt to serve up agent productivity statistics in the spring of 2010, CEO Bob Hale predicted that consumers would eventually get access to agents’ transaction histories, but that it would “happen outside of the industry, and everybody will be mad.”

As Hale predicted, some companies that operate third-party websites not affiliated with NAR have in fact made moves in that direction. But they’ve encountered opposition when attempting to provide consumers with agent productivity statistics that may include information derived from MLS data.

American Home Realty Network Inc., which operates real estate listing portal and agent ratings website NeighborCity.com, was sued by two MLSs not long after launching its “Agent Match” tool. The company remains embroiled with NAR in long-running copyright infringement and antitrust lawsuits.

In the latest twist, American Home Realty Network this week sent realtor.com operator Move Inc. a cease-and-desist letter alleging Move’s “AgentMatch” tool infringes on NeighborCity’s trademark registration of the term “Agent Match.”

The largely hostile reaction from agents to previous attempts to surface agent productivity statistics — even by groups with strong industry ties, like HAR and Redfin — was no secret to realtor.com executives. So it was not a surprise when the tide of agent opinion quickly turned against AgentMatch, Realtor.com said President Errol Samuelson.

“If this goes well, agents and Realtors will say that this was a good thing for the industry,” he said.
As realtor.com shifts its focus to catering to consumers’ needs in an effort to stay relevant and retain its status as the leading listing portal, unhappy agents may be a fact of life — at least until they see the pluses outweighing the minuses.

Zillow and Trulia allow agents to manage profiles on the site that can display information on past sales and current listings inputted by agents. Zillow users can rate and review agents, and Trulia users can post recommendations. On realtor.com, agents may add client recommendations they receive through RealSatisfied, a service that surveys clients on customer satisfaction, to their Find-a-Realtor profiles.

NAR’s latest survey of homebuyers and sellers showed that 89 percent of homebuyers used the Internet to search for a home, but only 9 percent said they found their agent online (88 percent of buyers worked with a real estate agent to purchase their home). That discrepancy will not hold, Samuelson said. Consumers will demand more info they can use to evaluate agents on the Web.

It’s only a matter of time before transaction-based agent information becomes widespread, Samuelson said. Consumers will demand the data, he said, and Realtors can get ahead of the curve with AgentMatch.

AgentMatch’s agent-ranking algorithm incorporates more than just MLS stats, he said. The rating system also factors in agents’ recommendations and certifications. Agent rankings are not based only on the volume of active listings or the number of home sales, Samuelson said, addressing a perception voiced by many agents.

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

How to Pick the Right Agent to Sell Your Home
What's My Home Worth - Pricing a Home
Selling a Home

Where Is The Housing Market Headed in 2014

Speaking at the 2013 Realtors Conference & Expo, National Association of Realtors (NAR) chief economist Lawrence Yun predicted the real estate market would continue its recovery in 2014 with home prices rising 6% and mortgage rates hitting 5.4%.

Other factors aim to keep the housing market on track although there could be a possible negative impact due to rising mortgage rates, however, job creation and loosening mortgage underwriting standards should balance out next year's sales volume.

Looking over the past year, Yun said he expects existing-home sales to be up about 10% in 2013 to 5.13 million. Sales in 2014 are expected to hold fairly even at about 5.12 million.

Reviewing price movements, he said the national median existing-home price should end this year about 11% higher than 2012, climbing to $197,000. Next year’s growth is expected to be cut nearly in half at about 6%.

Over the past two years, Yun says existing-home sales have shown a 20% cumulative increase, while prices have gained 18% however, incomes have risen just 2-4% in this time frame.

“We’ve come off of record high housing affordability conditions in the past year, and are now at a five-year low, but conditions are still the fifth best in the past 40 years,” Yun said, noting that the median-income family should still be “well-positioned” to buy a home in 2014 in many areas.

Aside from affordability, ongoing headwinds include limited inventory conditions and stringent mortgage standards, both of which are expected to improve as home values continue to rise and banks relax their stringent lending standards.

Limited supplies were a key factor in price appreciation in 2013, with inventory bouncing around 13-year lows, and distressed property sales (short sales and bank owned foreclosure listings) trending steadily down.

On housing production, Yun forecasts 917,000 starts through the end of 2013 and 1.13 million in 2014, which still falls short of the underlying demand of about 1.5 million.
Sales of new homes are expected to total 429,000 in 2013 and 508,000 next year.

Based on his forecasts, Yun says the top 10 markets to watch for a housing turn around in 2014 are Salt Lake City, Utah; Naples and Tampa, Florida; Atlanta, Georgia; Boise, Idaho; Houston, Texas; Charlotte, North Carolina; Denver, Colorado; Seattle, Washington; and Tucson, Arizona.

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

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Why It's So Hard to Sell a Home For Sale By Owner (FSBO)

If you had any questions about listing your home For Sale By Owner then here's a reason to give this strategy a second thought 

Colby Sambrotto’s story is a familiar one. Mr. Sambrotto decided to sell his two-bedroom New York condo but wanted to avoid paying the 6% sales commission to a REALTOR® and opted to go the for-sale-by-owner route (commonly known as FSBO pronounced “fizz-bo”), and do it himself. However 6 months later, Mr. Sambrotto's condo still hadn’t sold, he did what  90% of all FSBO sellers end up doing: he hired a real estate agent to list his home. But the true significance of this story, first reported by the  Wall Street Journal  in August of 2011, is that Colby Sambrotto isn’t just your run of the mill FSBO seller; he is a founder and former chief operating officer of ForSaleByOwner.com, a FSBO company that claims to “make selling a home for sale by owner easy”. This didn’t seem to apply to Mr. Sambrotto though, or even most other FSBO sellers for that matter, which would explain why FSBOs only accounted for  9% of overall house sales in 2013.

AGENT-LISTED HOMES SELL FOR 16% MORE THAN FOR SALE BY OWNER LISTINGS 

On the other hand, in return for a standard 6% fee Jesse Buckler, a New York based real estate broker, sold Mr. Sambrotto’s 2,000 square foot condo for $2.15 million, which is $150,000 more than the original asking price. Left in Mr. Buckler’s capable hands, the property quickly received multiple offers, before finally closing at a price that was 7.5% higher than Mr. Sambrotto’s original listing, and thereby more than offsetting the cost of Mr. Buckler’s fee.

INCORRECT PRICING IS THE #1 REASON THAT FSBOs FAIL

Colby Sambrotto’s experience is far from an isolated incident and rather is a reflection of the experience of the majority of FSBO sellers who discover for themselves that trying to do a FSBO  isn’t quite as easy as Mr. Sambrotto and ForSaleByOwner.com would have you believe.
Typical among the problems faced by FSBOs is a tremendous lack of exposure. When signing up with a FSBO company, sellers are usually given an online listing, a yard sign and perhaps a few flyers to hand out; leaving the seller responsible for all other marketing efforts and activities. Many sellers realize too late that it takes more than a sign and an online listing to sell a home!

SOME REASONS WHY REALTORS® SUCCEED WHERE FSBOs FAIL:

• REALTORS® have superior marketing tools and resources
• REALTORS® know how to price properties to sell
• REALTORS® are always up-to-date on the latest trends and market conditions
• REALTORS® work directly with buyers
• REALTORS® get maximum exposure for properties by using their professional networks including other realtors, lenders, title reps, etc. 

What many sellers fail to realize is that over 75% of home sales occur through agent-to-agent cooperation, where REALTORS® work with one another to buy and sell properties. These are known as cooperative sales. REALTORS® market their listings to other real estate professionals as well as to the general public, thus achieving maximum exposure for their client's homes. This is critical and yet it is something that is next to impossible for a FSBO seller to achieve.

One of the first steps for most in their home buying process is to locate a realtor and according to the 2013 Profile of Home Buyers, 88% of home buyers used a Realtor, and 33% found the home they purchased through their agent. Most real estate agents prefer not to show For Sale By Owner Listings and in most instances aren't even aware of their availability as these listings don't typically appear on the Multiple Listing Service (MLS). Consider this, before you purchased your home, how many For Sale By Owner listing did you preview?

4 MOST COMMON REASONS FOR DOING A FSBO:

• Did not want to pay commission fee: 38%
• Sold it to a relative / friend / neighbor: 40%
• Did not want to deal with an agent: 8%
• Buyers contacted seller directly: 6%

While there will always be for-sale-by-owner enthusiasts and individuals who think they can succeed where others have failed, what does it say for the credibility of sites like ForSaleByOwner.com and similar services when a founder of a major FSBO company himself saw the value and benefits of hiring an agent to sell his property?

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!
The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

Best Restaurants in Columbus, Ohio

Whether you live here in Central Ohio, or if you are just visiting, it's always nice to sit down to an amazing meal. Below is a list of some of Columbus and Central Ohio’s top restaurants, voted on by over 15,000 Ohioans on ColumbusAlive.com…

Best Mexican – Cantina

Cantina Loredo serves authentic Mexican dishes in a sophisticated atmosphere. The Mexico City style menu includes grilled fish, chicken and steaks complimented by signature sauces such as chipotle-wine with Portobello mushrooms or sautéed artichoke hearts and roasted red bell peppers. Enjoy the award-winning signature margarita, Casa Rita, made from fresh lime juice and the finest tequila.

Best Seafood- Columbus Fish Market

To exhibit their commitment to honest freshness, not only does Fish Market’s geographically sourced menus change daily, but the company (now owned by the Ruth’s Chris group) is MSC certified — MSC works to guarantee the “chain of custody” of sustainably procured seafood.

Best Sushi – Haiku

The big fish in the Columbus sushi pond was tops with our readers yet again this year. A Short North staple for more than a decade, Haiku embodies the art-centricity of the neighborhood with its stylish-but-casual setting.

Best Sandwiches: Katzinger’s Delicatessen

Cranking out overstuffed New York-ish deli specialties — and much more — since the ’80s, counter-ordering Katzinger’s is nothing short of a local institution.

Best Pizza – Houndog’s Three Degree Pizza

A lot of places do the kind of pizza you’ll find on the menu at Hounddog’s, but few can say they do it better.

Best Local Treat – Sugardaddy’s

Those round brownies (and blondies) are just irresistible, aren’t they? And the flavors you can choose from make them even more so: dark citrus, dark berry, rich mint, chai spiced, cinnamon, nutty, strawberry, seasonal flavors … the delicious list goes on and on.

Best Fine Dining – The Refectory

Classic French technique converts beautiful ingredients into delicious art on plates in this magnificent eatery — and savvy Alive readers have duly honored it again.

Best Burger – The Thurman Cafe

Have you had a Thurman Burger? You haven’t fully experienced Columbus until you have been to the Thurman Cafe. For more than 70 years, the most famous burger joint in town — it’s the first place the Travel Channel’s Adam Richman visited in Columbus — has been accumulating accolades like the towering mass of add-ons topping, and tumbling over on, its juicy and gargantuan sandwiches.

Best Breakfast – Starliner Diner

It’s the most important meal of the day, and our readers have once again crowned Starliner as their most loved place to get it.

Best New Restaurant – 101 Beer Kitchen

High-falutin’ craft brews find their match with the wallet-friendly, suds-compatible comfort grub fashioned with higher-grade ingredients and stylish chef touches in this new, casual, spacious and tastefully appointed, always busy Dublin enclave.

Best Ice Cream – Jeni’s Splendid Ice Cream

Our hometown favorite is a national phenomenon. If you don’t know why, you’ve apparently never tasted the playful and complex variety of flavors dreamed up in the Jeni’s lab. She’s the Willy Wonka of ice cream, and we’ve all got a Golden Ticket.

Best Chinese – PF Changs 

For 20 years, P.F. Chang's has been serving bold, flavorful Asian-inspired dishes in an upscale, casual setting. Each dish on our menu is prepared to order using the freshest and highest quality ingredients

Check out the rest of Columbus’ finest that also made the list.

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!

The Opland Group Specializes in Real Estate and Residential Home Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

Homebuyers and Sellers More Likely to Use Real Estate Agents, Even as Internet Usage Hits an All-Time High

Use of the Internet among consumers in the home buying process continues to grow, but buyers who use the Internet are more, not less likely to use a real estate agent, according an annual study from the National Association of Realtors (National Association of REALTORS®’ 2013 Profile of Home Buyers and Sellers survey).

NAR's 2013 study of Home Buyers and Sellers includes survey responses from 8,767 people who purchased a home between July 2012 and June 2013.

For those who purchased a home during this time period, the highest share ever - 92% - reported using the Internet to search for a home to buy, up from 90% from the year prior and 71% in 2003.

Forty-two percent of buyers reported starting their home search by looking for properties online, while 17% said their first step was to contact a real estate agent. Most home buyers located the agent with whom they worked through a referral from a friend, neighbor or family member, an agent with whom they'd worked in the past, or through an online website. Buyers were twice as likely to find their agent through an online website.

Seventy-six percent of respondents considered online websites to be "very important" as information sources in their home search, compared with 68% who said real estate agents were "very important". Nearly equal shares, 81% and 78%, respectively, reported online websites and real estate agents were "very important" in terms of usefulness.

An ever increasing share of buyers found the home they purchased online, 43% this year, up from 8% in 2001. The share of buyers who found their home through an agent came in at 33% this year, down from 48% in 2001.

Among those who searched for homes online, three-quarters drove by a home and 63% walked through and toured a home they saw online. Thirty-four percent of buyers found the agent they used to buy a home online.

Despite home buyers increasingly relying on the Internet for their home search, the overwhelming majority turn to a real estate agent for extra help.

Eighty-eight percent of buyers purchased their home through a real estate agent. Among those who used the Internet to search for homes, that share grew higher -- up to 90%.

“While the vast majority of buyers use the Internet during the home buying process, the Internet does not replace the real estate agent in the transaction,” according to the report. “In fact, buyers who used the Internet were more likely than those who did not use the Internet to purchase their home through an agent.”

Buyers who did not use the Internet to search were more likely to purchase through a builder. * See Tips to Buying a New Home and How to Negotiate With the Builder on a New Home

Among the skills buyer respondents valued most in their real estate agent were honesty and integrity, knowledge of the purchase process, responsiveness, knowledge of the local real estate market, and negotiation skills.

Buyers ranked the following services highest that agents’ can provide them in their search: finding the right property, helping to negotiating terms of the sale and price negotiations, identifying comparable properties, and assisting with paperwork. * See Why Use a Realtor When Buying a Home

Neighborhood quality was the No. 1 factor for neighborhood choice by buyers (63%), followed by commute-to-work convenience (48%), affordability of homes (40%) and proximity to family and friends (38%). * See How to Choose a Neighborhood and How to Choose a Home

Only 9% of sellers reported they'd sold their home without the assistance of an agent ("for sale by owner", or FSBO), and 40% of FSBO sales were to buyers who were previously known to the seller.

Real estate professionals know that buying and/or selling a home is not only an enormous financial decision, but also a highly emotional one. Homes are the culmination of living dreams, wishes, needs and visions blending together. They are dwellings in which we find comfort in what is familiar; what we call our own. When you choose a home, you choose a lifestyle, a house in a community that meets the criteria for the way you want to live! It is this expanded definition of home that drives our business.

When buyers and sellers need guidance, they want a human being, and someone who cares. They want someone to validate their feelings and put them at ease. Top real estate professionals do exactly that!

If you, or someone you know is considering Buying or Selling a Home in Columbus, Ohio please contact The Opland Group. We offer professional real estate advice and look forward to helping you achieve your real estate goals!

The Opland Group Specializes in Real Estate Sales, Luxury Home Sales, Short Sales in; Bexley Columbus Delaware Downtown Dublin Gahanna Grandview Heights Granville Grove City Groveport Hilliard Lewis Center New Albany Pickerington Polaris Powell Upper Arlington Westerville Worthington

Distressed Ohio Homeowners May Qualify for Ohio's Save the Dream Transition Assistance

Distressed Ohio Homeowners May Qualify for Ohio's Save the Dream Ohio Transition Assistance Program (TAP)

If you are a financially distressed Ohio homeowner who can no longer afford your mortgage payments (ie you are at risk of foreclosure or seeking to avoid foreclosure) and are pursuing a short sale or a deed in lieu of foreclosure, you may be eligible for financial help with your relocation related expenses to alternative housing.

The funds come from Transition Assistance Program (TAP), part of the Save the Dream Ohio Program.

The state of Ohio is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes.  Distressed homeowners must:

• Apply for the funds through their state's website or by calling 1.888.404.4674.
   
• Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.

For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.
 
To learn more about the Transition Assistance Program's guidelines, and you clients may qualify, please visit the program's website at www.savethedream.ohio.gov.  You can also call 1.888.404.4674.

If you’re facing foreclosure you’re facing some very important decisions. We want you know you’re  not alone and we are here to help with any questions you may have to assist you in making the best decisions for your situation. There is no charge for this service and we are happy to help! We offer confidential and professional real estate advice.

The Opland Group  Specializes in  Real Estate Sales, Luxury Home Sales, Short Sales  in;    Bexley    Columbus    Delaware    Downtown    Dublin    Gahanna    Grandview Heights    Granville    Grove City    Groveport    Hilliard   Lewis Center    New Albany    Pickerington    Polaris    Powell      Upper Arlington    Westerville    Worthington