Jan. 19, 2008

Buying a Columbus Home in 2008

Is 2008 the year to buy a home?

It is a buyers market.  Low interest rates.  Plenty of inventory.  Columbus is considered a stable market to buy a home by experts.

In Central Ohio's This Week Community Newspapers Bill Evan's  Real Estate Notebook  this week is 'Home-buying tips for 2008' Evans gives ideas on how to get the ball rolling.  Bill Evans is president of Real Living HER (Central Ohio.)

General advice from Real Living on home buying includes:

"Buying on your Terms

1. Conduct a Comparative Market Analysis

2.  Start the Financing Process

3. Narrow Your Search

4. Document Assistance

5. Evaluate and Negotiate Offers and Counteroffers

6.  Get Objective Advice

7.  Set Up a Home Inspection

8.  Negotiate Disputes and Issues

9.  Prepare for Contingencies

10. Get to Closing "

The Real Living "Buying on your terms" document fleshes these items out but remember Real Living is in a number of communities and states, some of the information is very general, for example home inspection information, contracts (offers) are all very local..  Home inspectors are not licensed in the state of Ohio (yet...)  The contract and customs vary from market to market, how title insurance is handled in Columbus is very different than it is in Dayton, Ohio.  Central Ohio closings are different than closings in Cleveland.

In his This Week Community Newspaper column Evans writes:

"If you have made the decision that this is the year to buy a new home, always remember that all real estate is local. So when reading reports about the 2008 real estate market, remember that what is reported nationally may not be accurate for your hometown.

Like I've stated in previous articles, the Columbus market is in a much better position than the national market." 

I'd love to hear from you if you have a comment on the topic. All comments are moderated so you will not see your comment immediately. Thanks.

Copyright 2008 Discover Columbus and Maureen McCabe