It’s been difficult to take a tour of homes for sale in Midtown Columbus over the last couple of years without seeing one or two homes that had listing prices at or below the home’s last sale price.  While many Midtown Columbus communities fared far better than others or some suburbs, keeping their value because of their location to both downtown amenities and solid neighborhood sales, sale prices haven’t been what they were five years ago.

This creates a conundrum for the home buyer who ends up purchasing a property for less than its assessed value  for tax purposes. No one wants to pay more taxes than they have to but getting a deal on a Midtown Columbus home the last few years meant that you probably will do just that, for at least a while.

I reccomment that Buyers plan on paying the current assesed taxes for a period of two years after they buy their home, start the appeal process as soon as possible (after all, what is a better indicator of a home’s value than what a buyer is willing to pay for it on the free market) and hope it takes closer to 12-18 months.

An article in today’s Dispatch notes that, ”a record number of Franklin County property owners are winning appeals for tax cuts.

So far this year, the Board of Revision has agreed more than 94percent of the time that a property is no longer worth the value on the auditor’s books. Two years ago, 54percent of appeals prevailed.

The recent success rate is likely skewed, cautioned Anthony J. Frissora, chief of staff for Auditor Clarence Mingo. The board frontloaded the most obvious cases, including appeals for properties that recently sold or were appraised for less. And it’s less than halfway done with this year’s appeals.

“But there’s no question that (the success rate is) going to be above the 54percent by far. It’s definitely trending upward,” Frissora said. “People are trying to look at ways of saving money in this economy. Our job is to get the value right.”

The number of appeals has more than tripled since 2008, when 2,263 property owners filed. This year, 7,818 owners made claims.”  Read the rest of this Columbus Dispatch story here

This 1248 sf 3 bed, 1.5 bath cape cod on Meadow Rd sold this year for $176,500 after 12 days.

As first time home buyers get pushed farther away from the city core, despite many wanting to be as close to it as possible, areas like 5th by Northwest become more and more important to the city’s fabric. Often written off in the past as a motley collection of University View rental homes and Grandview Heights wanna be’s, 5xNW as its called, has an area plan from the City of Columbus and is starting to receive a little more notice.

Let’s face it, 1st time home buyers are priced out of Grandview and if you could live within Walking Distance to attractions on Grandview Avenue and own your own home, that’s a nice thing. Yes there is heavy rental in the area but it is conveniently located and worth a look.

This update applies to the relatively small area generally bounded by Third Avenue on the south, Glenn/Wyandotte/Northstar Roads on the west, Kinnear Road on the north, and Kenny/Olentangy River Road on the east.  Windgate Village and Somerset Square condos fall in here.

Homes on the market: 8 Homes and Condos for sale today

• $148,097
• $148/sf and
• 100 days on market
• HOMES ONLY – 3 Listings, 2 small ones on Sells Ave and 1576 Meadow Rd, a 3 bed 2bath for $269,900

5 x NorthWest Homes in Contract contingent on financing/inspections as of today: 1

• 1735 Hess Blvd has 1110 sf
• $159,900
• $144/sf
• 52 days on market

Greater Short North area Homes SOLD THIS YEAR: 36

• Averaging 1034 sf
• $147,690 avg List but a $142,322 Sale price or 96%
• $137/Square foot
• 50 days on market — (very tidy)
• HOMES ONLY – 20 @ $160,665, 1125 sf – $143/sf – Only 38 DOM

The Most expensive home sold so far this year was 1624 Ashland Ave, a 1600 sf 3 bedroom, 2.5 bath that sold for $216,000 after 65 days on market but was listed at $259,000.

Joe Peffer is a Realtor who works in 5xNW, Grandview, Upper Arlington and other Columbus Neighborhoods.

Would you like me to break it down bycondos vs single family? email me and I will be glad to

This 4 bedroom Chaucer Ct Home sold for $279,900 in late November

Homes on the market: 99 Active Worthington homes for sale.

Averaging 1,842 sf,

• $235,680 ( just under 2/3 are below this average list price (!) Wonder Why so cheap? see below)
• $127/sf and
• 131 days on market.

What happens if you take condos out of the equation and focus only on single family detached homes?

68 Active Single Family Homes for sale in Worthington, Ohio

• $284,386
• $137/sf and
• 129 days on market.

Worthington Homes in contract with escape clauses:

None – No Homes you could still, conceivably, swoop in and buy

Worthington Homes in Contract contingent on financing/inspections as of today: 30

• Averaging 1912 sf
• $244,796
• $134/sf
• 106 days on market

All Worthington Homes Closed since October 1, 2009: 66

• Averaging 1798 sf
• $212,894 avg List but a $201,867 Sale price or 96%
• $122/sf
• 73 days on market

Single Family Worthington Homes -No Condos- sold since October 1, 2009: 47

• Averaging 2018 sf
• $245,856 avg List but a $233,260 Sale price or 96%
• $130/sf
• 63 days on market

Interesting Note: 25 Fox Lane, a home that I’ve been enamored with this year, Sold just before Thanksgiving for $630,000. The home sits on the Olentangy River and is on a big lot with 5 bedrooms, 4.5 baths and 4900 square feet including a somewhat new “pub” room. It was listed in early June for $969,000 and the time of going in contract was listed at $750,000.  The house sold in September 2007 for $900,000. 2008 taxes were $15,226.

PERSPECTIVE: In the same time frame one year ago, 34 –almost half as many–Single family homes sold for an average $234,668 or $123/sf and were on the market 89 days. Did the first time home buyer tax credits (combined with historically low interest rates have an effect on Worthington Real Estate Sales this year?  Judging from the above, yes, a significant effect as the original time frame for closure of that credit loomed on November 30. More people were buying and they were getting better deals this year by about $7/square foot. There were also more homes on the market this year-thereby supporting that doubling of sales-as especially South Worthington Sellers moved up and out of their smaller homes.

From April through August (the so-called ‘prime’ selling season) of this year, the average single family home in Worthington sold for $215,705, or $127 per s.f., after 70 days on market.

Joe Peffer is a Realtor who works in Worthington and other Columbus area Neighborhoods and first ring subburbs.

Would you like me to break it down by homes vs condos or Riverlea vs Olde Worthington, Colonial Hills vs Olentangy Hills? email me and I will be glad to.

This update is for Worthington specefic homes, ie inside city limits. You could live in Columbus and still be in the Worthington School District. In fact, you could live in Powell, have a Columbus Mailing address and attend Worthington schools.