Home sales building momentum

2013 home purchases up 14 percent over 2012 numbers
Melissa Topey
Jan 26, 2014
For many, buying a home is still part of the American Dream.

Lindsey and Daniel Hoke married in August 2012. About a year later, they closed on the Sandusky house on Columbus Avenue, where they would make their home.

“Even right now we cannot believe it is ours” Lindsey said.

Residential home sales in the Firelands region in 2013 came in at 2,651, about a 14 percent increase over the 2,322 sales in 2012.

The average selling price for a home last year in the Firelands region was about $115,200 — about a 3 percent increase over the 2012 average price of $112,000.

“That percentage of 3 percent mirrors the state average” said Jeff Berquist, broker and owner with Stadtmiller Realty and member of the Firelands Association of Realtors.

The Hokes felt they got a good deal paying $121,500 for their home.

“It had been redone with new floors, new carpet, new electric, new plumbing and more,” Lindsey said. “It was essentially a brand-new home”

Mortgage rates are increasing from historic lows in 2013, such as a 30-year loan at 3.375 percent or a 15-year mortgage of 2.625 percent.    Mortgage rates could jump to 5.5 percent by June, Berquist said.

That’s still low, allowing a trend to continue of first-time homebuyers purchasing a higher-priced home that would normally be seen as a second home.

That second home as first phenomenon could be contributing to pockets of resistance throughout Sandusky, where there’s more supply than demand. The average selling price of a home, which naturally mirrors inflation, could go up another 3.5 to 4 percent, he said.

“Which is still reasonable” Berquist said.

Ohio home sales continue to make headway coming out of the recession years, according to the Ohio Association of Realtors.

Year-end 2013 sales of new and existing homes in Ohio totaled 132,566 homes, a 14.7 percent increase from the 115,565 homes sold in 2012.

In Ohio, the average home sold for $142,000 last year and about $135,000 the year prior.

Comments

The Big Dog's back

Shhhhhh! Don't tell pooh or the other CONservatives.

The Hero Zone's picture
The Hero Zone

Happy to be one of those 2,651! For me, the price to rent was equaling/exceeding what it would cost to buy. I'd rather own than rent so I pulled the trigger and got a house about three times as big as my apartment for the same amount I was paying before.

I'll toot my own horn a bit and say that I take pride in not only attracting younger people to our area to play and spend time/money but I know that I have had a part in either retaining them in the area to live or encourage people from outside the area to move to be closer to the shop and its community. This kind of stuff I take seriously as a resident, citizen, and entrepreneur.

Whether it is done by the municipality, a certain community within an area, a business, or even a clergy all it takes is giving people something to appreciate and want to be a part of in order to weave their threads into the communal tapestry. When that happens they will come into their own and invest in the area in their own way with time, talent, thought, or money.

phroggy

I need to get my house on the market.

Darwin's choice

This is really great, except most of these great home sales have come at the expense of someone losing their job, savings, etc to foreclosure, and bank repossession, and then sold at a loss........

But, dog, like obama, doesn't count the misery that's taken place for all these "wonderful" sales to happen!

How many of these home sales are from "new" constuction? You know, one of the driving factors of the economy?? The one that employes people, not just a paper shuffler for the bank......

Good news always comes at a stiff price it seems......

coasterfan

I don't have statistics, but do remember reading in several recent articles that new home sales are up, as well. The misery you mentioned definitely did occur, but as a direct result of the recession of 2007-2008. It's cause and effect.

Darwin's choice

Blowjob! Do you really want to start listing "cause and effect" since 2009, you troll?

"If you like getting screwed and lied to" "you can keep your dr."

And, again, you're full of chit! Prove the lies your quoting, obama jr.!

BabyMomma

Why try to argue with these idiots? They are drunk on hope and change. They will suck his ego balls deep until he has them living on the streets. I can't stand our President nor can I stand his blind followers, no point in wasting time on them, they are already infected! Leave them behind in the gutter and look forward towards people who can think on their own 2 feet and see things for what they are, not what their "party" wants them to be.

santown419

We know why you hate him its not his policies. Its something you or him has no say so in.

BabyMomma

Listen whitey, we know you hate white people and think that anyone who talks bad about Barry is a racist cracker with a torch and pitchfork. But guess what, you are the racist here, not me. I wanted Obama in 08. He talked a good game and Bush was such a asshat, I was hoping we would get some change that helped. We can all see what we ended up with. DEBT, JOBLESSNESS, HUNGER, AND LOOK WHAT HES DONE WITH OUR WEATHER THIS WINTER! Sell your bull some where else, I'm still trying to work my way out from under Barry's bull he sold us!

Darwin's choice

LMAO at barry's weather blame!!!!

Post of the year, thus far!!!!!!!! maybe true......!

The Big Dog's back

You have company in the nuthouse durwood.

Darwin's choice

Bump your head under the desk again blowie?

Darwin's choice

Try to comprehend this:

By Wayne Allyn Root/
Published January 15, 2014/
FoxNews.com
Focus on income inequality sparks debate over...
What's the alternative to income inequality?

I’ve finally found something I agree with President Obama on. Let me say it out loud, "Obama is right." America was not built around fighting inequality. Never. America was not built around equality, fairness, or social justice. Those have never been the cornerstones of our economy. Those have never been the central tenants of our country, or our Constitution. Let’s all admit that Obama is 100% right.

Yet somehow we managed, even with inequality not even on our radar screen, to build the greatest nation in world history -- and the greatest economy in world history. Coincidence?

We built an economy more powerful than most of the world combined. An economy so great that people the world over tried to escape their countries to come to ours.

Obama has done something no one thought possible. He has made America…ordinary

An economy so great the world gave it a name: “the American Dream.”

An economy so great that people the world over believed America’s streets were "paved with gold."

We managed to create more jobs than the rest of the world. Good paying jobs that produced the strongest middle class ever. We managed to lift more people out of poverty than the rest of the world ever imagined possible.

Even if not everyone got rich in America, the entire middle class lived a quality of life richer than “the rich” in other countries.

We managed to create more millionaires and billionaires than the rest of the world. We managed to win two world wars. And we managed to invent pretty much everything the world cares about.

Can you imagine? This all happened without inequality on our minds.

Without worrying about inequality, millions of immigrants like my grandfather Simon Reis came to America without a dime to their name, but loads of ambition, dreams of greatness, and unmatched work ethic. My grandfather turned a 4-man butcher store into his American Dream. That couldn't happen in any other country in the world.

But that's wasn't good enough for Obama.

Obama comes along, obsessed with inequality. He lectures us about it in every speech. His entire agenda and every policy is intended to create equality, fairness, and social justice. He vows to "fundamentally transform the United States."

The result? Suddenly the unstoppable American economy is stopped cold in its tracks.

Our GDP is in quicksand.

The great American jobs juggernaut is in reverse.

We have chronic unemployment.

The lowest work force participation rate in 35 years.

Massive deficit and debt.

We have millions unemployed. Millions more under-employed. Forty-seven million on food stamps -- more than the population of Spain. Over 10 million on disability. More Americans on entitlements than working in the private sector. Over 46 million living in poverty -- twice the population of Syria. Over 6 million more Americans living in poverty just in Obama's first term. The number of Americans without a job has increased by almost 10 million under Obama.

Thousands lined up for menial jobs, with a better chance of getting into Harvard than getting a job in a fast food restaurant.

Under Obama, with this focus on inequality, suddenly America is no longer America. Suddenly we aren’t the greatest country or economy in the world. Suddenly we are rather ordinary. Under Obama, “Yes we can” has turned to “No we can’t.”

But we actually owe a debt of gratitude to Obama. He has proven, once and for all, the answer to the question, "What made America the greatest nation in world history?" It isn’t the air. It isn’t the water. It isn’t the dirt.

If those things made us great, why aren’t Mexico and Canada great? They share our borders. Why isn’t Cuba great? It’s right off our Florida coast. Why didn’t those countries dominate the world? Why only America?

And it sure wasn't a focus on equality, fairness and social justice.

Every country in world history that made those principles the centerpiece of their economy became a dysfunctional economic basket case. Name anything great that ever came from Venezuela, Argentina, Angola, or Zimbabwe?

Why didn’t the old Soviet Union or China dominate the world like we did?

Why are North Koreans starving to death?

Why isn’t Europe a powerhouse like America? Why are Greece, Italy, Spain and France facing economic Armageddon? Why do they have 25% unemployment, 55% youth unemployment, and massive unsustainable debt? Those countries all cared far more about equality than we ever did.

Thank you Mr. Obama. You have proven exactly what made America great. Not just great, but THE greatest in world history. Our obsession wasn’t inequality, it was opportunity and economic freedom.

Our Constitution never talks about inequality or social justice. We never guaranteed happiness or wealth -- only that everyone would have the opportunity to pursue happiness and wealth with economic freedom.

It’s opportunity and economic freedom that creates mobility and massive growth. That’s what creates jobs by the millions. That’s what created the world famous “American Dream” and those famous streets "paved with gold." That’s what created the American middle class that was the envy of the world.

As if on cue, the “2014 Economic Freedom Index” came out yesterday, listing all the countries in the world.

Under Obama the United States has dropped all five years on the list, for the first time in history. Under Obama the United States has dropped out of the top 10, for the first time in history.

Tragedy has befallen the United States. We are officially headed in the direction of Cuba, Venezuela, North Korea, Zimbabwe and Iran.

Obama, with his obsession with inequality, has killed the goose that laid the golden egg (and the golden streets).

Obama with his obsession with inequality has led us straight to shared misery.

Obama has done something no one thought possible. He has made America…ordinary.

Because of Obama, now we know exactly what made America great. And we know not to ever take it for granted again.

Now we have a choice to make. Which path do you choose for your children’s and grandchildren’s future? Think long and hard. Because the answer will change the course of history.

The Big Dog's back

durwood, no matter how many times you post something, it still doesn't make it true.

BabyMomma

Good comeback. I can't believe these guys still argue with you. It's obvious you're a complete tool and haven't the ability to think on your own 2 feet. I would just ignore someone with your level of class.

Darwin's choice

Really big dog????
Kinda like:
"if you like your doctor...."

Still not true????????

Contango

Re: "new home sales are up, as well."

As ALWAYS; thank the Federal Resv.'s ZIRP & QE policies.

Unfortunately, interest rates are heading higher.

Contango

Re: "the recession of 2007-2008."

So the Dems and your hero Paul Krugman wanted a housing bubble but didn't want the aftermath Sport?

"Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."

- Paul Krugman, 8/2/02

newcreation1996

It's nice to see a young couple excited and appreciative of owning a home.

BabyMomma

They are a super nice couple too. Mr. Hoke is a very talented musician as well. Looking for great things from that guy in the near future. Congrats you 2.