HAVE REAL ESTATE VALUES BOTTOMED OUT?
   My wife Cheri said my comments last time were too harsh, negative and cynical.  Teressa and Grace weren't happy with it either but weren't as strong in their unkind comments.   So, I have some good news to share this week.  One simple way to see how the market is doing is to look at the number of sales compared to last year.  Here are the sales numbers compared to last year according to Todd Hanks, Delaware County auditor. 
 
January sales were down 27.12% from 2007
February sales fell back a little more bringing the YTD (year to date) number to 28.19% fewer homes sold
March turned us around and sales YTD improved to 26.16%     
April improved a little more reducing the YTD number to 25.38%
May helped to bring the number down to 23.55%
June numbers reduced the figure to 22.68%
July continued to improve bringing the total sales down to just 18.62% less than last year!
 
Now, there’s something for which you can breathe a sigh of relief.  Sorta like the dentist saying you need a tooth pulled but chances are good you won't die!
 
Since February the real estate market trend is improving.  The market started turning (in central Ohio) from a seller's market to a buyer's market mid year of 2005.  If the trend continues as it has for the last 7 months we should be back to a balanced market in 18-20 months... that is for Delaware County.  Your area may be a little better or little worse.  I have access to more data than I can put in a one minute tip, so call me if you want info about your area or subdivision.  An in depth analysis of the data would reveal the first time home buyer price range has not been affected much by our downturn.  The move up price range has been affected quite a bit and the luxury home market has been affected greatly.  Only makes sense, right?
 
 
Oh, by the way, have you seen gas prices?  There's lots to be positive about!