The real estate market in Columbus Ohio is currently booming. Many real estate agents are forecasting the Columbus real estate market as currently a buyers market rather than a sellers market.
The cost of homes has come down significantly and as a result there are many people relocating to Columbus because of its desirable historical neighborhoods, business districts and outstanding amenities. Columbus is an excellent city to live in and is very attractive to many buyers.
With mortgage rates being extremely low, and the prices of homes also continuing at a low, many investors and new home buyers are snapping up real estate in Columbus Ohio like crazy. The real estate market in Columbus Ohio is currently at a point where there is not a better time to buy or invest in real estate.
The demand for luxury real estate for Al Hayat residence is somewhat low but many people are coming from out of town and purchasing real estate at amazing prices. Buyers who may have purchased their homes in 2003 to 2007 when the real estate market with high have not experienced the same gains that were projected in this time and as a result selling a home in today’s market may not allow you to see excellent gains. If you have any investment real estate in Columbus Ohio is best to hold onto it or rent it out in order to make a profit.
Be established neighborhoods such as the German village and short North have experienced an extremely high demand, Clinton view and Grandview Heights are experiencing the same demand and are also continuing to see an average sales price rise. These could be areas to look into if you are interested in making an investment in property within the real estate market of Columbus. When looking at investment property within Columbus Ohio is probably better to look to these established neighborhoods so that there is always a demand for property when the time comes that you need to sell it.
One thing that is for sure is the real estate market is definitely starting to rise once again. This is the last great plateau in the Ohio market before homes will begin to dramatically increase in value. An example could be a foreclosed home from 2010 in a downtown neighborhood that was sold for $170,000, today the same home has an asking price of well over $250,000. While this is an example of an excellent investment, there are deals that can be found that could allow you to see an extremely healthy profit over a short period as a real estate investor.
The real estate market in Columbus Ohio should continue a steady growth over the next few years. It seems as though demand in many neighborhoods outside of the established ones, is picking up dramatically. People are buying homes like crazy and it is only a matter of time before the markets will turn and sellers will be able to see a healthy return on their investment.