What Lies Ahead for Central Ohio

Attraction, expansion, creation, and enchantment were among the many topics discussed at this year’s Columbus Chamber meeting. The meeting, attended by more than 1,100 business and community leaders, focused on strategic plans for future economic development of the Columbus region. Highlighted was the ongoing commitment to retain and expand existing businesses in central Ohio, which create 60 to 90 percent of all new jobs, through the fostering of programs that provide assistance to companies in the area. The unveiling of the Columbus2020! Initiative revealed a focus on four core strategies to bolster economic success: retention and expansion of central Ohio businesses; attraction of major employers to establish operations in the area; creation of more companies; and enchantment of workforce, infrastructure, and quality of life. These strategies utilize the basic elements of economic development to boost the region to the next level and deliver a blueprint for economic growth and vitality. In 2020, Columbus will be recognized as a vibrant and successful region where emerging innovation and thriving talent generate one of the fastest growing and leading economies in the nation.

With the expected business growth and expansion, now may be the perfect time to invest in a Columbus-area home. Contact your local real estate agent for more information.

Spending Your Design Dollars Wisely

Spending Your Design Dollars Wisely

When purchasing a home, consumers once desired two things: large size and luxurious rooms. Today, however, small homes with casual living and entertaining spaces are gaining popularity. As lifestyles change, buyers are starting to look for flexibility of space, cost-effective architecture, and “green” designs. They desire an aura of family togetherness and look for homes with spaces that reinforce this idea. The key is to balance what buyers want, yet maintain a cost-effective price point. A few highly sought after features in homes are:

• Large kitchens with an island
• Energy efficient appliances
• Home office or study
• Main floor master suite
• Outdoor living room
• Ceiling fans
• Stone or brick exterior
• Community landscaping
• Two-car garages

The desire for these features suggests a changing lifestyle for many homebuyers. The once desired formal dining room has been replaced by the need for a home office, and the once sought after home theatre has been deemed unnecessary. “Green” improvements have grown to be one of the most attractive features in a home, as federal tax credits offer benefits for energy-efficient appliances, insulation, and windows. Additionally, two-car garages are seen as advantageous not only as a place to park, but as an extra room for storage. So, if you’re looking to spend your design-dollars wisely, take a hint from these tips and spend money where buyers want it.

Eco-Friendly Building Materials

Photo by Alex Marttunen

Need some inspiration on how you can incorporate green practices into your everyday life?

Here are some “green” products you can blend into the interior and exterior of your home:

Accoya™
Accoya™ has recently gained a reputation for its durability and resourcefulness. A process called acetylation gives Accoya™ its competitive advantage—resistance. Accoya™ withstands water deterioration and UV damage for long periods of time. In fact, it has even been used to line canals. The self-sustainable nature of this product classifies it as an eco-friendly, renewable resource. If you’re looking for a great environmentally-friendly building material for boat decks, patio furniture, sheds or tree houses, Accoya™ is a great candidate for the job.

Bamboo
Consider using a dynamic and versatile material like bamboo to create an eastern aesthetic that works well in urban spaces. As a great organic alternative to plastics and carpets with high VOCs and toxic adhesives, bamboo is being used more frequently as an alternative to wood. It quickly regenerates after the stalk is cut, and provides a sturdy frame for sleek furniture and rugs. It can also be spun into yarn for bedding and drapery. Small urban spaces are an ideal setting for the clean, contemporary lines of bamboo furnishings.

Ekobe®
Looking for an eco-friendly, yet exotic flair? Look no further than Ekobe® tiles. These tiles add an organic feel to sleek, contemporary spaces as they provide the utmost durability. The texture of a coconut shell can provide an array of eclectic designs and subtle style. Bring the tropics to your home through Ekobe® tiles.

Teak
From the forests of South Asia, teak is one material you don’t want to overlook. It’s durable, eco-friendly and in high demand. Purchase new teak or search for old pieces to refurbish. Either way, teak is a great choice for living room furniture or backyard patio displays.

X-Board
It’s used in aerospace engineering, packaging and automotives, but it can also be an eco-friendly addition to your home. This extreme building material boasts a core composed of 100% recycled paper and 100% natural fibers. X-board’s light, but durable composition makes it a great candidate for tables, benches, partitions and countertops. Look no further if you want durable shelves or a cutting-edge side table.

If you have the option, try and reupholster furniture and reuse old materials. This is a simple, but effective way to promote eco-friendly living. It will also increase resale value. For more information on eco-friendly building materials, contact your local agent today!

Discovering the Home of Your Dreams

Thinking of buying a new home? If so, I’m sure you’ve pondered the most common concerns—the number of bedrooms, size of the yard, and the overall condition of the home. Your considerations, however, should not stop there. There are a number of other important aspects to take into account before you make an offer.

The Neighborhood
The neighborhood must meet your expectations. Check out the neighborhood during different times of the day. Do the neighbors keep their yards clean and well landscaped? Are there people walking, jogging, or biking? Are there children playing in the yards? These observations can offer insight into the safety of the neighborhood, as well as the lifestyles of the people within it.

The Location
Location is one aspect of a home that you cannot change. Before you buy, make sure the location is right for you. Is it close to work? Does it allow close access to parks, shopping, and schools? Is it easily accessible? Does it steer clear of high traffic areas?

Size
Impracticality is a common problem when buying a home. If you live alone, do you really need four bedrooms and three bathrooms? Consider your lifestyle—both now and in the future. If you plan to have a family, maybe a bigger home is the right choice. Otherwise, consider the downfalls of a large home: higher taxes, expensive heating bills, and more money to furnish and decorate.

Closets and Storage
Newer homes tend to have large closets and lots of storage. Old homes typically have small closets and minimal storage. Take this into consideration when you’re looking to buy. If you have lots of things to store, a newer home may be the better choice. Although you can always add storage space to an older home, it may come at the sacrifice of living space.

Windows and Lighting
Do you prefer an open home or a more private setting? Large windows and bright lighting offer very little in terms of privacy. If you enjoy an open home, however, pay close attention to the windows. More windows mean more light and more sunshine. Does this fit your lifestyle?

Although there are a number of other elements to consider when purchasing your home, contemplating these essentials will likely lead to the home of your dreams. Contact your local Realtor® today to begin your search.

Floating Homes Offer an Escape from Winter Weather

Warm weather, sunshine, beaches.

To many Central Ohioans, these are the words of an implausible dream. Today’s forecast—winter storms, temperatures in the low 30’s, and no sign of clearing skies. I think we could all use a little sunshine in our lives. If you’re looking to get away, a floating home-away-from-home may be the perfect choice. Imagine this non-traditional alternative to an adventurous getaway—ocean-view sunrises, beautiful waters, sunny skies, and of course, warm temperatures—all with the amenities of a traditional home. If the conventional beach retreat just isn’t appealing, consider this option as your gateway to paradise. How many people can say their home is a peaceful floating escape? Well, you could. Just contact your local real estate professional for more information.

Perfect Timing for a Great Investment in Columbus

Why you should consider homeownership in the upcoming year.

Many know what a great investment a home can be, but for those who are still on the fence about purchasing a home in 2010, our best advice is to move quickly. Mortgage rates are at historic lows, Columbus boasts a great inventory of homes and Congress’ recently Extended and Expanded Home Buyers Tax Credit makes homeownership an even more affordable option.

If you’re waiting until the weather turns warm to begin your house hunt, you may be too late. The Extended and Expanded Home Buyers Tax Credit went into effect at the beginning of November 2009, and it states that those looking to purchase a home may qualify for a tax credit when they buy between November 7, 2009 and April 30, 2010. More specifically:

• First-time home buyers may qualify for a tax credit of up to $8,000
• Repeat home buyers may qualify for a tax credit of up to $6,500

This truly is a great opportunity for those who view homeownership as unattainable. It’s also a great incentive for current homeowners to make that move to the home of their dreams. But, the best part is that neither of these tax credits need to be repaid if the buyer stays in his/her home for at least three years after the purchase date. For more qualifications, consult the National Association of Realtors’ (NAR).

Historically low mortgage rates are another reason you shouldn’t wait until spring to purchase a home. Did you know that you could potentially get a 30-year fixed-rate loan for around 5%? For those who aren’t as familiar with mortgage rates, this is a once-in-a-lifetime deal. Rates are poised to soon begin rising, so act fast if you’re looking to secure a great rate.

Columbus, as a whole, boasts a great residential real estate market. Not only is it stable, but there’s a great selection of homes on the market and interest rates are low. There’s been a tremendous amount of growth in central Ohio over the years, and Columbus has been recognized as hub for technology, education and business. For those who are moving into their empty-nester years, U.S. News and World Report named Columbus No. 5 on “America’s Best Affordable Places to Retire.”

So if 2010 is the year you want to make a move to the home of your dreams, then contact your local real estate professional to get moving on the process. Homes in the Columbus area are truly a smart investment for you and your family right now, so act fast to secure a great deal in a great marketplace.

Looking for a Home in the Short North/Victorian Village Area?

Real Living HER Agent, Terry Penrod, breaks down the downtown Columbus housing market. Click here to view NBC4i’s segment.

Yesterday, NBC4i’s Marshall McPeek interviewed Real Living agent Terry Penrod, about the Short North/Victorian Village housing market. Penrod, a resident of Victorian Village, has a solid understanding of the neighborhood and has worked with several buyers and sellers in the area.

“The housing stock is in high demand because of the business area around the Short North, restaurants, night clubs, there’s plenty of things to do,” said Penrod. “You can walk.  People love to walk. This is a great walking area.”

Penrod also believes that real estate will always be a great investment. He states, “A friend of mine’s grandfather used to always say, ‘Invest in land, kid. They stopped making it.’”

For more information on homes for sale in the Columbus metro area, feel free to check out Real Living HER.

Benefits of Being Energy Efficient in Your Home

Have you purchased an energy-efficient product or renewable energy system for your home? If so, did you know that you may qualify for a federal tax credit? Here is a breakdown of the ENERGY STAR products—categorized into three groups—that qualify for the credit.

Products included in the first group are:

• Biomass Stoves
• Heating, Ventilating, and Air Conditioning
• Insulation and Roofs
• Water Heaters
• Windows and Doors

The tax credit for these products is 30% of the cost—up to $1,500—and they must be used in your existing home and principal residence. To take advantage of this credit, you must act fast! It expires on December 31, 2010.

Products included in the second group are:

• Geothermal Heat Pumps
• Small Wind Turbines
• Solar Energy Systems

To qualify for the credit, these products can be used in either existing homes or those under construction, and be either a principal or secondary residence. The amount of the credit it 30% of the cost with no upper limit, and it expires on December 31, 2016.

Products included in the third group are:

• Fuel Cells (Residential Fuel Cell and Microturbine System)

To qualify, these products must be used in your principal residence—either existing or under construction. The amount of the credit is 30% of the cost—up to $500 per .5 kW of power capacity—and it expires on December 31, 2016.

To apply for the tax credit, you must fill out IRS form 5695 and submit it with your taxes by April 15, 2010. For more information, visit energystar.gov/taxcredits.

Marketing Your Home Online

The use of social media marketing is key to promotion in today’s world of increasing online traffic. This low-cost promotional method can offer a greater number of visitors or increased attention in a short amount of time. Finding an agent that utilizes social media is vital to promoting a home. Social media sites like Facebook and Twitter allow agents to reach a large network of online contacts, while presenting a listing in ways that traditional media cannot. Multimedia options, such as video and photo presentations, which are widely available online, can be used to enhance a listing and generate more interest in a home.

According to the recent success of TLofts, an eco-friendly loft community in the heart of Los Angeles, a successful marketing campaign must take advantage of the use of social media. First, the agency must achieve accurate positioning and targeting; second, they must successfully integrate online marketing and social media. In applying both of these concepts, TLofts was quickly able to become one of the nation’s ten best-selling communities with over 30% of their units sold in just two months.

They began with research into their target market. Recognizing that buyers interested in urban loft living were restricted to areas surrounding downtown Los Angeles, TLofts realized their first advantage—they offered the only authentic loft experience on the Westside. By positioning themselves as the solitary option for urban loft living in West Los Angeles, TLofts was able to generate a great deal of positive press. Interested individuals were directed to their website, where they were asked to provide information and register for updates, model tours, and preview opportunities.

Discovering the success of this online registry and realizing that the majority of buyers prefer to research homes online, TLofts created an online campaign using both targeted keywords and web banners. In combination with the press, this succeeded in bringing many leads directly to the website. To add to their web presence, they initiated an email campaign to stay in touch with those that had registered at their website, as well as the surrounding community of brokers.

The key to the success of this marketing plan, however, was the use of social media. Currently, 65% of companies utilize social networking in their marketing campaigns, which allots to about 4% of their marketing budget. Sites like Facebook, Twitter, Flickr, and YouTube were largely responsible for the quick spread of positive word-of-mouth in the promotion of TLofts. Additionally, these sources helped TLofts in advertising and promoting events, as well as greatly contributed to the size of their database. At the time of their grand opening, they had a database of over 900 names, and the grand opening event brought in over 300 people.

The lesson to be learned from this success story: never underestimate the power of social media and its ability to generate widespread positive word-of-mouth.

Extending the Dream of Home Ownership

If you’re looking to purchase a new home, now may be the perfect time. The $8000 first-time homebuyer tax credit has recently been extended and expanded by Congress to include a $6500 tax credit incentive for repeat homebuyers. If you’re looking to capitalize on this great opportunity, act fast because homes must be purchased between November 7, 2009 and April 30, 2010, with a closing date prior to July 1, 2010, in order to qualify.

Why Purchase a Home?
Right now, there’s an opportune environment for those on the house hunt. By taking advantage of the extended and expanded tax credit, buyers can obtain affordable housing before house prices rise further. When the market stabilizes in the next three to five years, consumers who used the tax credit to purchase their homes will receive the greatest gain on their investment. Additionally, as long as you plan to occupy your new home for at least three years, repayment of the tax credit is unnecessary. Basically, consumers who purchase now will benefit from the low housing prices, as well as the tax credit incentive, which expires on April 30, 2010.

Tax Credit Details
The details of the tax credit are as follows. For current homeowners interested in selling their principal residence, a tax credit of up to $6500 is available toward the purchase of a new home. For first-time homebuyers, a credit of up to $8000 is available. To qualify, the home must be a single-family, primary residence valued at no more than $800,000. Additionally, individual income must not exceed $125,000 or the amount of the credit will be reduced. Those individuals with incomes exceeding $145,000 are not eligible to receive the credit.

For more details, check out RealLivingHER.com or contact your local real estate agent. It truly is a great time to buy.