$165,000

Property Features

Interior Features

Dishwasher, Elec Range, Microwave, Refrigerator, Security System, 3 Bedroom(S) Upstairs, Dining Room Downstairs, Eating Room Downstairs, Family Room Downstairs, 2 Full Bath(S) Upstairs, 1 Half Bath(S) Downstairs, Living Room Downstairs, Eating Space In Kitchen, Utility Room On Lower Level, Windows Insulated All

Exterior Features

Above Ground Pool, Deck, Fenced Yard, Storage Shed

Grove City Homes for Sale

Columbus Homes for Sale

Grove City Homes for Sale

Columbus Homes for Sale

On an unadjusted basis, the purchase index decreased 16.3 percent compared with the previous week and was down 30.4 percent from Memorial Day week last year. This is the fifth straight week mortgage applications have declined.

œPurchase applications are now 35 percent below their level of four weeks ago, as home buyers have not yet returned to the market following the expiration of the home buyer tax credit at the end of April, says Michael Fratantoni, MBA™s vice president of research and economics.

Mortgage rates continue to be historically low:

• 30-year fixed-rate mortgages decreased to 4.81 percent from 4.83 percent;
• 15-year fixed-rate mortgages increased to 4.26 percent from 4.24 percent;
• 1-year ARMs decreased to 6.94 percent from 6.96 percent.

Source: Mortgage Bankers Association (06/09/2010)

Grove City, Ohio Homes for Sale

Columbus, Ohio Homes for Sale

About 50 percent of home owners surveyed by the Web site think their home’s value declined in the past year, according to Zillow.com™s first quarter survey of home owner confidence. In contrast, Zillow thinks that 65 percent of U.S. homes actually declined in value based on its own calculations of value.

To the extent home owners are overconfident about the value of their home, Zillow says, they could feel encouraged to put their home on the market. If a lot of them did so and their home values aren’t as high as they think they are, it could have the effect of pushing down prices, says Zillow™s Chief Economist Stan Humphries.

In its survey, Zillow found that 7 percent of home owners “ or 5.3 million homes if the survey results were applied to all home owners “ would be œvery likely to put their homes on the market in the next 12 months if they believed the market was improving. An additional 8 percent in the Zillow survey said they would be likely to list their homes, while another 14 percent would be somewhat likely.

Source: Zillow.com (05/20/2010)

Grove City Ohio Homes for Sale

Columbus Ohio Homes for Sale

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. œClearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales, he said. œLater in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.

Regional Numbers

• The PHSI in the Northeast declined 3.3 percent to 75.1 in March, but remains 27.2 percent higher than March 2009.
• In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago.
• Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009.
• In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.

œAnother encouraging sign is the improvement in the availability for jumbo and second-home mortgages, Yun said. œAs bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.

Grove City Homes for Sale

Columbus Homes for Sale

$179,900

Property Features

Interior Features

Dishwasher, Elec Range, Microwave, Refrigerator, Security System, 3 Bedroom(S) Upstairs, Dining Room Downstairs, Eating Room Downstairs, Family Room Downstairs, 2 Full Bath(S) Upstairs, 1 Half Bath(S) Downstairs, Living Room Downstairs, Eating Space In Kitchen, Utility Room On Lower Level, Windows Insulated All

Exterior Features

Above Ground Pool, Deck, Fenced Yard, Storage Shed

Grove City Homes for Sale

Columbus Homes for Sale

More than 90 percent of those surveyed believe the home buyer tax credits have helped both first-time buyers and the overall housing market, but 65 percent say that end of tax credits won™t reduce their personal interest in buying a home.

Over the next five years, 79 percent expect real estate prices to increase, and 20 percent expect prices to rise substantially. Only 12 percent believe prices will decrease.

Among renters, 75 percent believe owning a home is a better long-term choice for them than renting.

The majority of consumers also believe that homeownership is a good investment, with 75 percent saying it is better than stocks or bonds, 72 percent preferring it to mutual funds, and 74 percent saying it surpasses savings accounts.

Source: Prudential Real Estate and Relocation Services, Inc. (04/28/2010)

Grove City Homes for Sale

Columbus Homes for Sale

On an unadjusted basis, purchase applications rose 8.5 percent compared with the previous week and were up 2.4 percent from the same week a year ago. The increase was driven by applications to purchase homes using government-guaranteed loans. About half of all sales were backed by the government, particularly the Federal Housing Administration, the MBA said.

œPurchase activity continues to increase as we approach the end of the home buyer tax credit program, said Michael Fratantoni, MBA’s vice president of research and economics.

The increase came despite rising interest rates:

• 30-year fixed-rate mortgages increased to 5.08 percent from 5.04 percent.
• 15-year fixed-rate mortgages increased to 4.38 percent from 4.34 percent.
• 1-year ARMs increased to 7.03 percent from 6.95 percent.

Source: Mortgage Bankers Association (04/28/2010)

Grove City Homes for Sale

Columbus Homes for Sale

$94,900

3 Bed, 1 Bath | 1,294 Sq Ft on 0.15 Acres (6,534 Sq Ft Lot) |

MLS #210003250

Perfect Starter Home for the First Time Home Buyer Tax Credit! Brand new windows throughout ¦ just installed 5 months ago. Roof is 3 years old. Home Warranty Included! Riding Lawn Mower AND the washer and dryer STAY! FOUR parcels: 040-000301, 302, 303, & 304. Sellers are extremely motivated¦ bring offers!

Property Features

Interior Features

1 Bedroom(S) Downstairs, 2 Bedroom(S) Upstairs, Dining Room Downstairs, 1 Full Bath(S) Downstairs, Living Room Downstairs, 1St Floor Master Bedroom, Utility Room Downstairs, Windows Insulated All

Grove City Homes for Sale

Columbus Homes for Sale

$94,900

3 Bed, 1 Bath | 1,294 Sq Ft on 0.15 Acres (6,534 Sq Ft Lot) |

MLS #210003250

Perfect Starter Home for the First Time Home Buyer Tax Credit! Brand new windows throughout ¦ just installed 5 months ago. Roof is 3 years old. Home Warranty Included! Riding Lawn Mower AND the washer and dryer STAY! FOUR parcels: 040-000301, 302, 303, & 304. Sellers are extremely motivated¦ bring offers!

Property Features

Interior Features

1 Bedroom(S) Downstairs, 2 Bedroom(S) Upstairs, Dining Room Downstairs, 1 Full Bath(S) Downstairs, Living Room Downstairs, 1St Floor Master Bedroom, Utility Room Downstairs, Windows Insulated All

Grove City Homes for Sale

Columbus Homes for Sale