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Is the 2007 Columbus Real Estate Market Doomed

June 19th, 2007 categories: For Home Buyers, Market Updates, Mortgage/Finance, Real Estate News

Or is it primed to make a comeback  Well, maybe somewhere in between lies the best guess.  The first and last thing to always remember when we’re talking about real estate is that IT’S ALL LOCAL.

Who cares if the sky is falling across the country. So what if USA Today, WSJ and the nightly news talk doom and gloom.  The saying goes all politics are local and while that may be true, so are real estate markets and Columbus is no exception.

2005 was the biggest year in real estate history in Columbus, Ohio.  2006 was third.  2007 is on track to be the 4^th best real estate market in history. That’s not shabby, really.

Also, Ohio does NOT have the highest foreclosure rate in the nation, Colorado does.  Ohio is number 8.  At the same time, we here in Ohio did experience a 20% increase in foreclosures last year over the previous year.  Fact:  The foreclosure rate for Ohio stands at 1.7% of all mortgages.

Speaking of almost losing your home, if you’re afraid your tight financial situation may mean you’ll miss a mortgage payment or two, the Ohio Housing Finance Agency (yes, that’s OHFA) has a new loan product for you: The Opportunity Loan Refinance Program.  They also have a great first time home buyer program.

This entry was posted on Tuesday, June 19th, 2007 at 2:09 pm and is filed under For Home Buyers, Market Updates, Mortgage/Finance, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to “Is the 2007 Columbus Real Estate Market Doomed”

1. 612
   Jay Thompson
   June 20th, 2007

   Nice blog Joe! Followed one of your comments somewhere else to here. Looks like I have another one to add to the feed reader. Keep up the great work!

2. 653
   E. Berman
   June 22nd, 2007

   Real estate no matter what the market is and location is still a good purchase; especially if located in the USA. The fact is that land is limited in it’s availabilty…and will remain constant.

   Don’t miss a mortgage payment! This free service, try http://www.eMortgageManager.net today!.

3. 779
   Columbus Real Estate Notes » Blog Archive » Local Mortgage Fraud schemers indicted
   June 29th, 2007

   [...] Is the 2007 Columbus Real Estate Market Doomed? [...]

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