Uncategorized October 24, 2025

How to Spot Real Estate Scams

Real estate scams are targeting more victims than ever before! Nearly 10,000 Americans lost over $173 million to real estate fraud last year.

  • Key threats to watch for:
    🏡 Wire transfer fraud at closing
    💰 Fake rental listings
     Title and deed theft
    🔍 Impostor agents and buyers

Don’t become a statistic! These sophisticated scams can fool anyone, but knowing the warning signs is your best protection.

 

 

Home Maintenance October 22, 2025

8 Quick Wins to Lower Bills Before Winter ❄️

Buying a HomeHome ImprovementHome MaintenanceHome SalesMarket Conditions October 16, 2025

10 Hidden Home Maintenance Tasks That Could Save You Thousands

As a homeowner, you’re likely diligent about the basics—mowing the lawn, touching up paint, and cleaning regularly. But what about the critical home maintenance tasks you don’t see every day?

Research shows that home maintenance frequently takes a backseat, even with the best intentions. In fact, a recent survey found that 60% of homeowners have postponed necessary maintenance or repairs, while 40% admit to paying for a major home repair that could have been avoided with better upkeep.1

Still, it’s not just about avoiding costly emergencies—it’s also about maximizing the return on your biggest investment. According to research by Thumbtack, homeowners who do put in the extra care are rewarded: Well-maintained homes sell for an average of 10% more.2

Let’s explore 10 often overlooked home maintenance tasks and how they can save you thousands in long-term costs.

 

1. Gutter Cleaning: Your First Line of Protection

Clogged gutters can cause water to overflow and seep into your home’s foundation, attic, or siding. Left unchecked, this can lead to foundation damage, rot, and even flooding.

The real cost of neglect: While professional gutter cleaning averages $162 nationally (up to $390 for multi-story homes), water damage repair costs can add up—averaging $5,100 for foundation damage and $4,300 for a flooded basement.3,4,5

Your action plan:

  • Clean gutters at least twice annually—in spring and fall.
  • Use a gutter scoop or hose to remove debris.
  • Consider investing in gutter guards to reduce future clogs.

This small task prevents major structural damage and prolongs the life of your home’s exterior.

2. HVAC Filter Replacement: Small Task, Major Impact

A dirty HVAC filter reduces airflow, causes your system to work harder, and increases energy use. It can also lead to health concerns from trapped contaminants circulating in your home’s air.6

The hidden costs: A neglected filter can lead to clamped-up coils, furnace failures, and sometimes a complete system replacement costing $4,000-$12,000.6

Your maintenance routine:

  • Replace filters every 1–3 months, depending on filter type, usage, and the number of pets in your home.
  • Opt for MERV 8–13 filters for efficiency and air quality balance.7
  • Schedule full-system annual servicing ($175–$550) to catch hidden issues early.8

This simple task saves on energy bills (15-20% according to the Department of Energy) and extends your HVAC system’s lifespan.8

3. Water Heater Flushing: Preventing Sediment Buildup

Over time, sediment accumulates in your water heater tank, reducing efficiency and shortening the unit’s lifespan. Left unchecked, this buildup can cause leaks or complete tank failure.

The financial reality: Regular flushing prevents early replacement and may be required to maintain your water heater’s warranty.9  You can do it yourself or hire a professional for around $160.10

Your annual process:

  • Turn off power and water supply to the unit
  • Attach a hose to the drain valve and empty the tank completely
  • Check your anode rod; it may need to be replaced every 3–5 years.

This simple routine extends your water heater’s life and preserves energy efficiency.

4. Dryer Vent Cleaning: A Critical Safety Task

Lint buildup in dryer vents doesn’t just reduce drying efficiency—it’s one of the leading causes of house fires in the U.S.11 They also force your dryer to work harder and longer for each load.

The cost factor: Professional dryer vent cleaning costs about $144 nationwide, while fire-related damage can run into the tens of thousands.12

Your safety protocol:

  • Clean dryer vents every six months using a brush kit, or call in a professional.
  • Replace plastic ducts with rigid metal ones, which resist lint clogs.
  • Monitor drying times—longer than usual may signal a blockage.

This potentially life-saving task improves both safety and appliance efficiency.

5. Refrigerator Coil Cleaning: The 35% Energy Drain

Your refrigerator’s coils help expel heat. When coated in dust, they force the compressor to work harder, increasing energy bills and shortening appliance lifespan.

The efficiency impact: Dirty coils can increase energy use by up to 35% and, over time, can lead to costly repairs or replacement.13

Your simple solution:

  • Check your manufacturer’s guidelines; many recommend cleaning every six months.
  • Locate coils behind or at the bottom of the unit and use a vacuum or coil brush to remove dust and debris.
  • Keep condenser fan areas unobstructed.

This $0 DIY task can trim your electricity bill—and prevent early breakdown.

6. Garage Door Lubrication: Prevents Costly Repairs

A squeaky garage door means friction—and friction leads to wear on moving parts, costly spring damage, and failed openers.

The mechanical reality: A new garage door opener can cost between $350-$1000 installed, but a can of lubricant only costs about $10.14

Your annual routine:

  • Check the manufacturer’s guidelines to choose the right lubricant for your garage door.
  • Prioritize safety: Ensure the door is fully closed and cut the electricity.
  • Check for any signs of damage before proceeding, and call in a pro if needed.15

This simple task eliminates squeaks and avoids expensive mechanical repairs.

7. Sump Pump Testing: Your Basement’s Guardian

Your sump pump quietly protects your basement from water damage—but it needs testing to ensure it works when you need it most.

The flood prevention factor: Sump pump failure during a storm can result in thousands of dollars in cleanup costs.5

Your quarterly test:

  • Pour water into the pit to ensure the float triggers the pump.
  • Confirm pump and drainage are working correctly.
  • Clean the inlet screen once per year to avoid clogs.

This 10-minute check gives peace of mind and avoids ajor flood damage.

8. Chimney Cleaning: Preventing House Fires

According to the National Fire Protection Association, the leading cause of home heating fires (30%) is a dirty chimney.16

The fire prevention imperative: Professional cleaning costs between $100-$350 and is crucial for anyone burning wood.17 The cost of ignoring this task includes chimney repairs and fire damage that can devastate homes.

Your annual safety check:

  • Hire a certified chimney sweep for inspection and cleaning, if needed.
  • Use only seasoned wood to reduce creosote buildup.
  • Install a chimney cap to block debris and critters.

Professional chimney maintenance is a non-negotiable safety investment.

9. Roof Inspection: Protecting Your Shelter

Your roof endures a lot—storms, sun, pests—and while damage may start small, it can become unbelievably costly if ignored.

The structural stakes: A professional inspection averages $239, but some roofers will offer one for free.18 Roof repair costs have surged 28.47% year-over-year.19 A new roof now costs $9,500 on average.20

Your inspection process:

  • Twice per year, perform a DIY inspection for missing shingles, cracked flashing, and sagging areas.
  • Check your attic for stains or leaks after rainfall.
  • Consider a professional inspection every 1-2 years, depending on your risk factors.18

Early intervention prevents thousands in repairs and helps retain resale value.

10. Water Pressure Monitoring: Protecting Your Plumbing

Many homeowners never check their home’s water pressure, but levels above 80 psi can damage pipes, appliances, and fixtures throughout your home, leading to premature failures and leaks.

The pressure problem: Water pressure that’s too high can damage your pipes and lead to expensive repairs or flooding. Pressure that’s too low can impact the performance of your faucets and appliances.21

Your annual check:

  • Use a water pressure gauge connected to an outdoor faucet.
  • Ideal pressure: 40-60 psi. Install a regulator if it runs high.
  • Monitor for sudden changes that could signal a plumbing issue.21

This small check helps you avoid hidden damage to your entire plumbing system.

Creating Your Home Maintenance Schedule

Rather than reacting to emergencies, create a proactive plan. Here’s a maintenance chart that puts it all in one place:

Task frequency and cost chartThe Maintenance Investment Reality

Homes with consistent maintenance routines sell for around 10% more than average.2 More importantly, budgeting 1–4% of your home’s purchase price annually helps prevent sudden, catastrophic expenses.22

As Lucas Puente, Economist at Thumbtack, notes: “Across the U.S., buyers should be prepared to spend at least a few thousand a year in home maintenance costs.”23

Bottom Line

Proactive home maintenance isn’t optional—it’s essential. The ten hidden tasks above are often overlooked, but they’re critical to preserving your home’s safety, energy efficiency, and resale value.

Ultimately, your home is an investment. Consistent upkeep helps you avoid emergencies, save on utilities, and protect your equity for the long term.

Ready to create a tailored maintenance plan for your home? I can connect you with trusted local service pros and show you how proactive upkeep contributes to your home’s market value. Let’s talk about keeping your home in peak condition—and protecting one of your most valuable investments.

Sources

  1. Finance Buzz –
    https://financebuzz.com/homeowner-maintenance-repairs-survey
  2. Thumbtack –
    https://blog.thumbtack.com/investing-in-home-maintenance-pays-off-yet-the-majority-of-homeowners-are-under-budgeting-84426995b6c5
  3. This Old House –
    https://www.thisoldhouse.com/gutters/gutter-cleaning-cost
  4. This Old House –
    https://www.thisoldhouse.com/foundations/foundation-repair-cost
  5. Forbes –
    https://www.forbes.com/home-improvement/plumbing/basement-flooding-repair-cost/
  6. HVAC.com –
    https://www.hvac.com/expert-advice/consequences-not-changing-your-air-filter/
  7. New York Times –
    https://www.nytimes.com/wirecutter/reviews/furnace-and-air-conditioner-filters-we-would-buy/#how-to-choose-a-filter-by-its-merv-rating
  8. Today’s Homeowner –
    https://todayshomeowner.com/hvac/cost/ac-tune-up-cost/
  9. Home Depot –
    https://www.homedepot.com/c/ah/how-to-flush-a-water-heater/9ba683603be9fa5395fab901d7efffcd
  10. Angi –
    https://www.angi.com/articles/water-heater-flush-cost.htm
  11. National Fire Protection Association –
    https://www.nfpa.org/education-and-research/research/nfpa-research/fire-statistical-reports/home-fires-involving-clothes-dryers-and-washing-machines
  12. Home Advisor –
    https://www.homeadvisor.com/cost/cleaning-services/clean-dryer-vents/
  13. U.S. Department of Energy –
    https://www.energy.gov/energysaver/purchasing-and-maintaining-refrigerators-and-freezers
  14. Angi –
    https://www.angi.com/articles/how-much-does-garage-door-opener-cost.htm
  15. Lowes –
    https://www.lowes.com/n/how-to/how-to-lubricate-garage-door
  16. U.S. Environmental Protection Agency –
    https://www.epa.gov/sites/default/files/2016-11/documents/kit_2_fast_facts.pdf
  17. Today –
    https://www.today.com/series/how-often-should-you/chimney-cleaning-how-often-get-sweep-inspection-t104648
  18. Angi –
    https://www.angi.com/articles/how-much-does-roof-inspection-cost.htm
  19. Bankrate –
    https://www.bankrate.com/home-equity/most-expensive-home-maintenance-costs/#home-maintenance
  20. Nerdwallet –
    https://www.nerdwallet.com/article/mortgages/roof-replacement-cost
  21. The Spruce –
    https://www.thespruce.com/testing-water-pressure-in-your-home-2718692
  22. Home Guide –
    https://homeguide.com/costs/average-home-maintenance-costs
  23. Zillow –
    https://zillow.mediaroom.com/2017-07-31-Homeowners-Can-Spend-More-Than-9-000-a-Year-on-Hidden-Homeownership-and-Maintenance-Costs?mobile=No
Home SalesMarket Conditions August 29, 2025

Central Ohio Housing Report – July 2025

The Big Picture

COLUMBUS, Ohio (August 21, 2025) — Housing inventory hit its highest level in a decade, and sales grew by 2.6% year over year in the latest central Ohio housing report, provided by Columbus REALTORS® and the Columbus & Central Ohio Regional MLS.

There were 2,899 closed sales in July, and the median sales price rose 4.6% to $342,000. While closed sales were up 2.6% year over year, July’s numbers marked a 1.8% decrease over June, when 2,951 sales were reported.

Housing inventory in central Ohio is up 20.8% year over year and 8.7% over last month as 5,638 single-family homes and condominiums were listed in the MLS in July. This marks the highest inventory of homes for sale since 2016, when there were 6,273 homes on the market.

“The increased inventory gives buyers more choice, and in some cases, more time to make their decision,” said 2025 Columbus REALTORS® President Buffie Patterson. “For sellers, accurate pricing matters now more than ever. A REALTOR® will help the seller stand out and protect your bottom line.”

With the rise in inventory, the days on market have increased to 27 days. Last year at this time, homes were selling in 22 days. There are currently 2.3 months of supply in central Ohio. This statistic estimates how long it would take to sell all active listings at the current monthly sales pace. Most economists consider a balanced market to be 5 to 6 months of inventory, meaning sellers still hold the advantage in central Ohio.

The median sales price is $18,000 higher than July 2024 at $324,000. While suburbs such as Dublin, Powell, New Albany, Grandview, and Bexley all boast median sales prices over $600,000 there are some more affordable communities who are seeing increased sales. Additionally, Bexley was named the No. 10 Hottest ZIP Code in the United States for 2025 by Realtor.com on August 6.

 

 

 

Outside the I-270 loop, on the westside, sales were mixed. Just south of Dublin, sales in the Hilliard school district were down 12.9% with just 122 closed sales so far this year vs. 140 last year. However, the median sales price jumped 7.6% to $422,750. Days on market was just 15 and the number of new listings jumped from 152 last year to 168 this year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the South-Western School District which encompasses Galloway and Grove City, overall closed sales were flat year over year at 162. The median sales price rose 6.5% to $330.000. Days on market was 29 and the number of listing fell 8.3% from year over year from 230 to 211.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

While prices overall are on the rise, other communities outside of the I-270 loop are gaining buyers’ attention. These school districts all boast median sale prices under $300,000 and each posted more than 25 closings in July 2025

  • Columbus City School District $269,950
  • Groveport Madison LSD $255,500
  • Lancaster CSD $275,000
  • London CSD $290,000
  • Marion CSD $193,000
  • Newark CSD $230,000

The Columbus & Central Ohio Regional Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fairfield, Fayette, Hocking, Licking, Madison, Marion, Morrow, Perry, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Knox, Logan, Muskingum, and Ross counties.

Buying a HomeHome ImprovementHome SalesMarket Conditions August 8, 2025

First-Time Homebuyers – What they Wish They Knew – Flippers

In the second part of a multi-installment series on the home buying process and what first-time homebuyers, and homebuyers in general, wish they knew before they purchased a home, we will explore “Flipped” homes.

So what is a flipped home?  It’s a home that was purchased by an investor who remodels the home, updates it, and sells it for a profit.  The turn-around between buying and reselling the home is quick.  The goal is to maximize profit and every day a home is being updated adds costs.

A fresh coat of paint, new floors and updated bathrooms and kitchens are appealing. But what homebuyers who bought these homes wish they knew is the true cost of buying a flipped homes.

But first, how do you know if a home is potentially a flip?  A home that was bought less than a year ago and is back on the market for much more than it was last purchased for, is most likely a flip.

If you go to an open house, one of the first signs is that everything is freshly updated. Your Realtor should check the sales history of the home.  When was it last purchased?  What did it sell for and what is the current selling price? Some flipped homes will be back on the market within 30 days, but 60 – 90 days is common.  Mark-ups in the Columbus metro area typically start at a minimum of $100,000 over the previous purchase price.

While they often look appealing due to cosmetic upgrades, there are several common problems people encounter:

Hidden or Unaddressed Major Issues

This is perhaps the most significant concern. A Flipper may not have addressed a problem because it was not discovered in the remodel.  If they are not experienced in home remodeling, they may not have known to look for it or it may have been obscured behind a wall. FlippersMold, Seller must disclose often prioritize visible, cosmetic improvements to attract buyers and maximize profit. The most essential, but less visible, repairs found after the flipped home purchase are electrical, plumbing, HVAC (heating/AC), roofing, structural, foundation, water damage, mold and pest infestations.

Poor Workmanship and Cheap Materials

To save money, flippers may hire inexpensive, unqualified contractors or attempt DIY repairs themselves, resulting in shoddy work. Some examples are:

    • Poorly installed flooring (e.g. LVP on uneven subfloors).
    • Subpar painting with messy edges or painted-over outlets/fixtures.
    • Mismatched or cheap appliances, fixtures, and finishes (e.g., granite tiles instead of slabs, cheap toilets).
    • Improperly hung doors or cabinets.
    • A “polished turd” effect where the superficial looks good, but the underlying quality is lacking.

Lack of Permits and Documentation

Many renovations, especially structural or electrical work, require permits from local authorities to ensure they meet building codes. Flippers sometimes bypass this to save time and money.

    • No permits: This is a major red flag. If work was done without permits, the buyer becomes responsible for bringing it up to code, which can be costly and lead to legal issues.
    • Lack of paper trail: Reputable flippers should have receipts and invoices for all work done. A lack of such documentation can indicate unverified repairs or corner-cutting.

Sparse Property Disclosures

Since flippers typically haven’t lived in the home, their knowledge of its history and potential issues is limited. This can lead to less comprehensive disclosure statements compared to an individual homeowner who has lived in the house for years and knows its quirks.

Mitigating Concerns

How can you mitigate these concerns?  A home inspection is a smart first step. However, even then there is no guarantee that the inspector will discover hidden flaws or poor workmanship.  Many of these concerns are behind finished walls or otherwise inaccessible.  For the same reason a flipper may not have seen or remedied something.

A home inspector will not be able to verify the condition of some of these concerns because they are concealed or because they do not have the necessary qualifications to evaluate the conditions.  Some examples where specialized inspections may be necessary are structural integrity, plumbing and electrical services. If the home inspector sees an indicator of a specialized problem, they will recommend a qualified inspection (e.g., sewer scope, electrical, plumbing, foundation, mold and pest) beyond the general inspection.  We will look at those matters in a future installment of this series.

 

Summary

While any home purchase comes with risks, flipped homes carry a higher likelihood of hidden defects and poor-quality workmanship due to the business model’s emphasis on quick, profitable, and often superficial renovations. It’s crucial for buyers of flipped homes to exercise extreme diligence, including thorough independent home inspections (and potentially specialized inspections) and scrutinizing all available documentation.

Buying a HomeHome SalesMarket Conditions July 14, 2025

First-Time Homebuyers – What they wish they knew

Things First-Time Homebuyers Wish They’d Asked

Buying a home is a process full of unknowns, especially when you are a buying your first home.  There is so much advice on how to get the best interest rate, buying down points, improving your credit score, etc. Make no mistake, the financial part of home ownership is important.  But what happens after you move in?  What do homeowners wish they knew before signing the ream of paperwork committing them to 30 years of mortgage payments?  What makes a home and a neighborhood pleasant place to live?  I dug into the first-time homebuyer subreddit and found the following trends.

Over the next few weeks, I will explore some of the things that people said they wish they had known

More About the Neighbors and Neighborhood

A significant number of users expressed regret over not investigating the neighborhood and their immediate neighbors more thoroughly. This includes checking for noise levels at different times of day, potential disputes, and the overall community atmosphere.

“Figure out who your neighbours will be. A bad neighbour can be a game changer. S

o drive by at different times of day to get a sense of the neighborhood.”

This is so important. What is the state of repair on y0ur future neighbor’s homes?  Look for

neighborhoods where the homes are generally well maintained. Landscaping is another indicator of a neighborhood where the homeowner’s take pride in their homes.

Environmental Nuisances

Other things I encourage clients to consider are proximity to train tracks, busy highways and industrial/warehouse zones.  These can contribute to noise and air pollution.  They can also make getting into and out of your neighborhood challenging and cause rapid deterioration of the streets.

Similarly, look at how much vacant land surrounds a neighborhood.  What is that land zoned for?  What is on the other side of that stand of trees? That wooded lot could become a strip center, a warehouse, a highway or another neighborhood.  I’ve seen property values slashed on half-million dollar homes because a warehouse ruined the aesthetic and desirability of a neighborhood.

Rentals

How many rentals are in the neighborhood?  Your realtor can give you a good idea of how many homes are owner-occupied or have absentee Rentalowners.  While this is not a guarantee that all those homes are rentals because some may split there time in different states, it is a good gauge of stability of your neighbors. A higher percentage of owner-occupied homes generally means observable pride of ownership which translates into stable and appreciating property values.

Walk Around

Finally, it is a good idea to walk around and talk to neighbors. Take a walk in the evening or weekend.  Any party houses or especially difficult neighbors?  How many cars are parked on the street?  Are the neighbors friendly? Is there a neighborhood watch?  How strict is the HOA?

While this is not an exhaustive list of things to consider, it reflects the top concerns I hear from clients and the things I’ve learned from being a homeowner.

When I work with a client, we sit down and talk about Needs, Expectations, Wants, Priorities and Outcomes.  These are different for everyone I meet with.  If you would like to work with an experienced professional who will work with your interests as the top priority, call me or fill out the contact form.  Check this page to search for active listings.

Home SalesMarket Conditions July 8, 2025

Seller Optimism – Is it Well-Founded?

Even with more home sellers reducing their initial asking prices nationally, a recent survey found that they’re feeling quite optimistic these days. Over 75% of them aren’t expecting to lower their asking price. However, this outlook doesn’t match up to the reality of those who sold a home last year, as only 42% of respondents who sold a home received their original asking price.

For those wondering why sellers are optimistic, one reason may be their location. Homeowners in northern states and popular areas, like Columbus, have a much higher chance of getting their original sticker price, or even above it.

Locally, the west side of  Columbus, (school districts of Dublin, Hilliard and South-Western) homes are selling just above asking price as the weather has warmed. Since the end of the school year, homeowner’s have seen selling prices rise from just below asking (98.6%) in January to just above (101.1%) in June.

However, cities with less attractive prospects such as San Francisco aren’t expected to fare nearly as well, with almost 20% of homes at risk of selling at a loss.

Many homeowners who are planning to sell their homes during the next 18 months are planning to play it safe. Of the future sellers surveyed, nearly two-thirds (62%) said they have a backup plan in case their home doesn’t sell quickly.

Speed of sale is not an issue for single-family homes on Columbus’ west side.  Of those who sold their homes on the west side in May (340) and June (332), they were on the market for 5 days and 4 days respectively at a median price of $425,750.

Home DecorHome ImprovementHome Sales June 30, 2025

Home Stagers’ New Secret Weapon: Wireless Lighting

Light up any room—no electrician needed.

Put a light anywhere in the house—without an electrician or extra wires. Battery-operated and rechargeable lights are beco

Rechargable Lampming a game-changer when looking for an affordable home staging solution that can brighten up spaces.

Cordless lights are making it possible to bring light anywhere. Consider, dark closets, dim

entryways, bedside tables and bathroom mirrors. When getting a

house ready for sale, agents and home stagers are turning to these portable options as a quick—even stylish—fix.

Picture sleek wall sconces, discreet puck lights or picture lights to highlight artwork. All are available in wire-free options, offering flexibility, function and style without the hassle.

 

And while such solutions can help enhancing a home’s appeal to buyers, owners don’t have to be planning a sale to go wireless.

“Cordless and LED options are making it easier for homeowners to upgrade without a full electrical overhaul,” says Alecia Taylor, a designer at CabinetNow.com. “We’ve had customers integrate rechargeable puck lights inside cabinets or glass-front uppers to highlight their dinnerware or collectibles—easy, functional, and beautiful.”

Affordable, Rechargeable & Easy to Install

Rrechargeable LED lights are an easy way to highlight art without the cost and complexity of traditional, wired lighting

Art Highlight

Battery-powered lights come in nearly every style—from brass wall sconces to LED color-changing puck lights. These can be affordable, too, with most options ranging from $20 to $80. The lights are typically rechargeable, with most staying lit for eight to 15 hours between charges.

Long-lasting battery-operated sconces attach easily to the wall. Most come with remote control options and can even be voice-activated with smart-ho

me assistants like Alexa or Google Home. The brightness can be adjusted or dimmed, and many have color temperature controls, enabling owners or their agents to alternate between warmer and cooler tones.

With today’s cordless lighting options, homeowners can bypass expensive rewiring and add light where and when they need it, whether to bring attention to a gallery wall, make a closet more functional or add ambiance and style to nooks and crannies around their home.

Content by Melissa Dittmann Tracey

Images generated by Google Gemini

Source Article

Home SalesMarket Conditions June 24, 2025

Central Ohio Housing Report — May 2025

COLUMBUS, Ohio (June 23, 2025) — The housing market in central Ohio showed signs of rebalancing in May, thanks to increased inventory and steady interest from buyers. While closed sales remained nearly identical to those in 2024, the significant change continues to be an influx of new listings, which have given buyers the choices they have been lacking in recent years.

Last month, total inventory rose to 4,432 homes, and in May, there was a 10% increase to 4,828 single-family homes and condominiums on the market. Year over year, inventory is up 36% in the region, continuing a trend that began last year.

“The home seller is the story of the summer so far,” said Columbus REALTORS® President Buffie Patterson. “Our inventory growth has given buyers more choices, but we’re seeing buyers move at a more traditional pace. The urgency buyers felt in years past is gone, and that’s a good thing for a more stable, sustainable market.”

The average number of days on market climbed to 28 days in May, a 27% increase from the 22-day average in May 2024. While this marks a shift toward a more balanced market, it’s important to note that homes are still selling quickly by historical standards.

Central Ohio recorded 2,835 closed sales in May, down only 0.1% compared to the same period last year. Additionally, 3,192 homes went under contract, reflecting a 0.4% increase.

The median sales price has increased by 1.7% to $335,500, and homes are selling on average at the asking price.

What’s keeping some buyers on the sidelines? Most eyes turn to mortgage rates, which have settled in around 7% on a 30-year fixed-rate loan in recent weeks.

“With rates where they are, that can impact the housing market in many ways,” explained Patterson. “Builders are not as motivated to develop, potential sellers feel locked into their lower rates, and conversely, potential buyers have less buying power.”

In the local area spotlight, Columbus proper and the Columbus City School District together accounted for 50% of the closings in the region (1,407 closed sales).

The Columbus & Central Ohio Regional Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fairfield, Fayette, Hocking, Licking, Madison, Marion, Morrow, Perry, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Knox, Logan, Muskingum, and Ross counties.

Our May Housing Report video will be available on our YouTube page soon!

Home ImprovementHome Sales November 14, 2023

SELLER: All about disclosures

This article originally appeared on Century21.com

Disclosure is key to the house selling process. While the form may seem overly long and confusing, filling it outright is important. Failure to disclose some problems or entering false information can leave you open to a lawsuit, even after closing.

Federal, state and local

You must obey federal, state and local laws for disclosures. There aren’t many federal requirements, but one very significant one is lead paint disclosure. If your home was built before 1978, you must disclose any known lead paint in the house and provide potential buyers with an EPA pamphlet.

As for state and local laws, these vary across the country. Common disclosure requirements include:

  • Pest infestations
  • Water infiltration
  • Mold
  • Smoke damage
  • Structural problems
  • Environmental hazards
  • Death in the home

Put it in writing

Disclosures must be in writing for potential buyers. Verbal disclosures, no matter how thorough, don’t count.

Patent vs. Latent

When filling out a disclosure form, you may see the terms patent and latent. A patent defect is visible and usually doesn’t need to be disclosed, while a latent defect is hidden and should be disclosed.

What if it’s been fixed?

In most cases, even if you’ve completely remediated the problem, you still need to disclose it as part of the house’s history.

REALTORS® to the rescue

With a qualified local REALTOR®, you’re much less likely to make a mistake during the disclosure process. They can help you identify what needs to be disclosed, when it’s appropriate to say that you simply don’t know, and more.