Really Simple Syndication

Zoning Issues and Potential Non-Conforming Problems in Columbus

October 14th, 2011 categories: About Me?, Downtown, For Home Buyers, Olde Towne East

If a Columbus area property has been grandfathered due to zoning issues, it may not be a big deal and it may seem good in some cases for the Buyer BUT Fannie/Freddie could certainly have a problem with this sort of situation.

Let’s say, for instance, that you’ve found the perfect property for your needs — maybe 787 East Broad Street, a gorgeous Church dating from 1903 that also happens to have a 3300 sf+ building that goes with it.

This is great, you can run your business out of the building and rehab the church into one of the most beautiful and unique homes in Central Ohio and still be easy walking distance to Broad and High. Wow, what a deal at $450,000. (No, Really, How can you pass this up!?)

Is it impossible to buy a property like this if the current zoning is different from the intended use zoning? No, but in case the property burns down or is partially destroyed, your lender may need proof from the city that they will allow it to be rebuilt as the current non-conforming use or the new non-conforming use.  That is the difficult part.

Authored by Joe Peffer | Discussion: No Comments »

Downtown Columbus Traffic Updates – Ramps/Exits Closing

October 4th, 2011 categories: About Me?, Columbus News, Downtown, German Village, Olde Towne East, Short North

As part of the Columbus Crossroads project, (i.e.-The I70-71 split fix by the ODOT) several ramp closures are in effect.

The ramp from 5th Avenue to I-71 south is closed until November 2012; the detour is Leonard Avenue.

These next two I use all the time but don’t mind the slightly less convenient alternates. Really, Downtown Columbus is so navigable and easy that these closures aren’t as big a deal as some whine about.

The ramp from I-670 east to Broad Street is closed permanently; the detour is Fourth Street to Goodale Avenue to High to Chestnut to Third to Broad, or I-670 east to Cleveland Avenue.

And the ramp from 71 south to Spring Street is closed until November 2013; the detour is Broad Street.

Need help navigating downtown Columbus Neighborhoods? Call me. 614-940-9100

Authored by Joe Peffer | Discussion: No Comments »

Old National Road Celebration – America’s first Federally-funded interstate highway runs through Columbus

April 27th, 2011 categories: Columbus News, Olde Towne East, Real Estate News

FOR IMMEDIATE RELEASE: April 26, 2011

CELEBRATION OF THE 200TH ANNIVERSARY OF THE NATIONAL ROAD
AND
RIBBON-CUTTING FOR OLD NATIONAL ROAD CONDOMINIUMS

(Columbus, OH) The Ohio National Road Association (”ONRA”), in partnership with Columbus Compact Corporation (”the Compact”), will host the City of Columbus’ celebration of the Bicentennial of the start of construction of the Historic National Road on May 4, 2011. During this celebration of the National Road, the entities will be dedicating Columbus’s 200th year anniversary gift to this All-American Road: a ribbon-cutting for the newly renovated historic homes and a memorial park in Olde Towne East.

This six-state National Road Bicentennial celebration will begin on May 2nd in Vandalia, Illinois, the western terminus of the National Road, America’s first Federally-funded interstate highway. A procession of vintage vehicles will be traveling east from Illinois through Indiana, Ohio, West Virginia, and Pennsylvania, before arriving at the Road’s eastern terminus at Cumberland, Maryland for a May 7th celebration finale. As the procession approaches state lines, the next state will “pick up the bells” – a symbolic representation of the bells that adorned the Conestoga wagons and stage coaches that brought settlers and commerce to the newly-opened west, starting in 1811.

The Ohio National Road Association (ONRA) will “pick up the bells” in Richmond, Indiana on May 3rd. A small caravan of Model A, Model T, and other vintage cars, will carry the bells to Englewood, Ohio for an overnight stay. They will be leaving for Columbus at 7:30AM on May 4th, with plans to arrive in Franklinton, central Ohio’s oldest settled community, at National Road Mile Marker #260 near Tommy’s Diner (914 W. Broad Street) at 9:00AM.

Here City of Columbus Auditor Hugh Dorrian – serving in his 43rd year in that capacity, Franklin County Engineer and ONRA Board Chairman Dean Ringle, Franklinton Area Commissioner Carol Stewart and others will greet the travelers with a hot cup of coffee and recounting a brief history of Franklinton and Columbus. The public is invited to this informal gathering at Tommy’s Diner. The bells will then be transferred to a horse-drawn wagon, which will lead a small procession of cars through eastern Franklinton, downtown Columbus, and into Olde Towne East, following the historic alignment of the Road from West Broad Street, to South High Street, to East Main Street. Local historians will narrate this tour for invited special guests on the wagon, pointing out places of historical interest, and telling the story of the National Road in Columbus. In addition, this event will be covered by GTC-3, the City of Columbus television station for rebroadcast.

Once through downtown, the procession will travel to the Old National Road Condominiums, located at 1023 -1059 E. Main Street in the historic Olde Towne East neighborhood between 22nd and Ohio avenues. The condominiums are developed by Olde Towne East Restorations, LLC, a wholly-owned subsidiary of Columbus Compact Corporation. There, the Compact and ONRA will unveil Columbus’ 200th year gift to the National Road: newly renovated condominium units in 1890’s era houses and a National Road commemorative park in the development.
These homes are the first historic rehabs in the City of Columbus developed under the U.S. Green Building Council’s LEED standards for sustainable design and energy efficiency.

The Old National Road Condominiums are two and three bedroom condominium units feature 1,211 to 1,496 square feet of finished space, with historic pocket doors and wood trim and contemporary finishes, including granite countertops, stainless steel appliances, hardwood floors, and ceramic tile kitchen and bath floors. The units are priced from $89,900 to $105,950, with up to $5,000 in downpayment assistance available to qualified homebuyers who enter into a contract to purchase before June 30, 2011. In addition, the Old National Road Condominiums offer a Lease-Purchase program, whereby qualified households that are not quite ready to purchase can enter into a two-year lease, for the unit they plan to buy. Again, the $5,000 downpayment assistance is available for families that enter into a Lease Purchase Agreement by June 30, 2011 (smaller amounts of downpayment assistance will be available after June 30th).

With the tax abatement on the value of improvements and special financing programs offered by Huntington National Bank and Fifth Third Bank, a household can expect to purchase outright (or lease-purchase) a unit in a range of $680 – $800 per month, including all taxes, insurances, and condominium fees. With the extreme energy efficiency of these units that are expected to achieve LEEDTM Gold certification, there will not be a higher quality, more affordable place to live in Columbus. These units were financed in part by the U.S. Department of Housing and Urban Development’s Neighborhood Stabilization Program, administered through the City of Columbus.

Included in the May 4, 2011 celebration will be the dedication of the Old National Road Heritage Park, at the corner of Main Street and Ohio Avenue; the unveiling of a plaque honoring the history of the National Road; and ribbon cuttings for each of the newly renovated houses. Mayor Michael B. Coleman will be speaking at the event and participating in the ribbon-cuttings and dedications, along with a host of other local, state and federal officials; housing developers and financiers; and neighborhood residents, business owners, and other stakeholders and interested parties.

The Compact’s Special Honored Guest is the granddaughter of the original builder of one of the homes and the commercial building, on the block. She will present several family photographs taken from her childhood, and will be available in a relaxed and informal setting to discuss her recollections of growing up in the 1920’s on the National Road in Olde Towne East. Light snacks will be served, and RSVPs torsvp@colscompact.com (or 251-0926 ext. 203) are requested.

Continuing eastward on the National Road after the ribbon cutting, a classic El Camino will “pick up the bells” from the carriage before zooming on to the National Trail Raceway near Hebron in Licking County, where they will be joined by larger vintage trucks. The procession will carry the bells to Zanesville later in the day.

The National Road was originally conceived by President George Washington as an all-weather road that would bridge the Allegheny Mountains. A bill authorizing the Road was signed into law by President Thomas Jefferson in 1806, and the National Road became the new nation’s first Federally-funded interstate highway. From Cumberland, Maryland where construction began on May 7, 1811, the Road stretches over 700 miles to Vandalia, Illinois near East St. Louis.

The National Road entered eastern Ohio in 1825, and was built through Columbus in 1833. The historic route of the National Road entered Columbus from the east on Friend Street (now Main Street), ran west down Main Street until turning north on High Street at the Great Southern Hotel and Theater, then turned west onto Broad Street and crossed the newly-built, toll-free Broad Street bridge before departing Columbus through Franklinton to the west.

The Road immediately attracted travelers and commerce, opening the state and much of the Old Northwest Territory to settlement, provided access for Ohio products to the burgeoning eastern markets, and enabled Ohio citizens to play an important role in the affairs of the new nation. At its time, an interstate highway was politically controversial, and resolution of the constitutional issues over

Federal funding of the Road was critical in defining the powers of the young nation’s Federal government for the future. It has been called “The Road that Built the Nation,” and is designated as both a National Scenic Byway and an All-American Road by the Federal Highway Administration. The All-American Road designation means the National Road is one of 31 roads that have features that do not exist elsewhere in the United States and that are scenic enough to be tourist destinations unto themselves. The National Road, known as “Main Street, U.S.A.”, has played a major role in shaping American history, culture, and lore.

Columbus Compact Corporation and the Ohio National Road Association cordially invite you to attend this event: Columbus’ recognition of the 200th year of the start of construction of the National Road, and our dedication and gift in honor of that occasion – newly renovated 1890’s era housing signaling the Road’s rebirth for the coming two centuries.

The Compact is a nonprofit community development corporation, which has a sixteen year history of catalyzing redevelopment in Columbus’s central city neighborhoods. Much of the Compact’s recent work has been in historic Olde Towne East. Recent Compact projects in the area include:

• The complete restoration of Old National Road Condominiums, taking 8 long-abandoned and blighting housing units and transforming them into energy efficient, state of the art condos with outstanding finishes ($1.6M)
• the complete restoration of Sherman Oak Condominiums, a long-abandoned and blighted 13-unit historic building saved from demolition by the investment by the Compact and its partners ($1.1 million)
• the development of the first new grocery in the Near East Area in 26 years, through the Heritage Square development at 1179-1181 E. Main Street featuring Save-A-Lot Food Stores and Simply Fashions women’s clothing ($2.4 million)
• the coordination of development activities and partial financing of COTA’s Near East Transit Center, featuring Nationwide Children’s Hospital Close to Home Center and Revol Wireless ($2.1 million)
• the rehabilitation of commercial buildings at Main Street and Champion Avenue, and leasing to Smothered Gravy Restaurant, Our Style Boutique, Alpha Computer and Security Systems, and Larry’s Lawn Service ($250,000)
• The rehabilitation an 1890’s era commercial building at 1051-1053 E. Main Street, which currently houses ComproTax Olde Towne East and Sweet Raine’s on Main, a carryout restaurant slated to open in June ($230,000)
• The renovation of other formerly vacant/abandoned scattered site single family and duplex properties in the area ($200,000)
• In addition, the Compact was a critical link in the development of the Salvation Army Regional Headquarters and East Main Service Center, at 966 E. Main Street ($3.2M), and the financing of Central Community House’s new headquarters and day care center at 1150 E. Main Street ($2.3M)

For more information, call ONRA’s Marian Vance at (614) 570-7504or visit ONRA’s web site at www.ohionationalroad.org. Jonathan Beard of Columbus Compact Corporation can be reached at (614) 251-0926 ext. 201, or at www.OldNationalRoadCondos.com orwww.colscompact.com).

– END –

Authored by Joe Peffer | Discussion: No Comments »

One of my listings was featured on the Today Show this morning

December 4th, 2009 categories: About Me?, For Home Buyers, For Home Sellers, Olde Towne East

Click Here to See the Today Show Segment.

Sometimes, having a Realtor with a stellar web presence pays off.  While it probably won’t create a sale, and despite the objections regarding the color of the dining room and the potential addition of an eat-in table in the kitchen, today’s airing of my listing at 1224 Fair Avenue received almost a full minute on National Television with the kitchen onscreen for ten full seconds.

If nothing else, it was enjoyable for the Sellers and the publicity can’t hurt. It all happened because the Delicious Real Estate Brand is tech savvy, distributed well across the Interet and  because I work hard for my clients. If this sounds like what you’re looking for in a Realtor, call or email me.

And, for the record, I think a small table in front of the brick fireplace in the kitchen would ruin the aesthetic that the kitchen has worked so hard to achieve. Yes, the space is there and yes potential buyers could easily have some eat-in space in the kitchen should they so chose.

Authored by Joe Peffer | Discussion: 1 Comment »

Finally Official! Columbus Home Buyers and Sellers can take advantage of Extended Tax Credit

November 6th, 2009 categories: Bexley, Clintonville, Columbus News, Condos & Lofts, Downtown, For Home Buyers, For Home Sellers, German Village, Grandview, Market Updates, Mortgage/Finance, Olde Towne East, Real Estate News, Short North, westgate

This afternoon President Obama signed the bill into law that will extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30.

I’m surprised that they left the two month window but I think it’s very smart. Still, even if it were this week, I would not try to buy a short sale property or a foreclosure that doesn’t have the deed in the bank’s name even with the 7.5 month leeway.

Here’s the best part–a tax credit for SELLERS. The bill creates a $6,500 credit for those who buy a home after living in their current house at least five years. That will apply to contracts signed by April 30 and closed by June 30. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years.

The credit will be available only for the purchase of principal residences priced at $800,000 or less.

This is huge. If you have owned your Columbus area home for at least five years–and I believe you must have lived in the home for at least five of the last eight years–you too can receive a credit. I can’t envision a scenario where you could claim both sides of the tax credits unless it was something along the lines of you selling your home and then turning around and buying the next home in your new spouse or girl/boyfriend’s name who has not owned a home.

The bill will raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

This is important. It opens the tax credit up to a whole new set of first time buyers who were not previously eligible and who could, conceivably, purchase a home with a little higher price tag that this year’s crop of first time home buyers weren’t even looking at.

Authored by Joe Peffer | Discussion: No Comments »

Real Estate Market Updates for Your Favorite Columbus Neighborhood

October 8th, 2009 categories: Bexley, Clintonville, Condos & Lofts, For Home Buyers, For Home Sellers, German Village, Grandview, Market Updates, Olde Towne East, Short North

This is where you can find an update on what is happening in real estate in your favorite Columbus Neighborhood…

Clintonville

Greater Short North including Harrison West, Italian Village and Victorian Village

German Village and Brewery District

Schumacher Place and Merion Village

Greater Olde Towne East

Grandview Hieghts and Marblecliff

Authored by Joe Peffer | Discussion: No Comments »

Sidewalks. Do they add value? Whose responsibility are sidewalks?

September 29th, 2009 categories: About Me?, Bexley, Clintonville, For Home Buyers, German Village, Olde Towne East, Short North

I’ve found that sidewalks tend to be a value added feature for buyers looking at Columbus Homes for sale. Most of my buyers buy homes inside of I-270 and most of my buyers prefer to have sidewalks for ease of travel when walking around the  neighborhood, for a safe place to meet and greet neighbors, for a safe way to travel through a community, for the perceived safety of theirs and the neighborhood children (I couldn’t find a study that says sidewalks keep children safer but since they keep kids and cars from being in the same place at the  same time, I have to think it’s true) and because they simply feel that a home, a community, needs sidewalks.

In a neighborhood like Clintonville, most streets have sidewalks but the sidewalks don’t necessarily extend the length of the street,ie-there are some that seem to end somewhat randomly as you get closer to Indianola – often only to be taken up again down the street. Also, some North – South streets in Clintonville have no sidewalks.

In slightly more urban areas like German Village or Victorian Village, you can pretty much count on sidewalks though you definitely can’t always count on them being in good repair. In German Village, for example, some of those sidewalks are well over 110 years old and they’re brick which is a bigger maintenance issue. This leads to the next point, the sidewalk is the homeowner’s responsibility. Not just for shoveling snow, but if the walk has cracks all over it and is falling apart the City of Columbus will ask you to fix it. Nicely the first time.

It’s a bit of a catch-22 for homeowners who might buy a house, based in part, because of the lovely trees up and down the block only to find that the roots of those trees have demolished the sidewalks and now they have to pay to replace the walk.

You might get lucky though. Smaller municipalities like Bexley have more discretion and money to throw at keeping sidewalks in good repair. This summer the city of Bexley went around and marked sidewalk squares to be replaced and replaced them on their own dime, sparing the homeowner the cost. (Yes, the money no doubt came from homeowners to begin with)  That won’t always be the case in Bexley and it’s not something you can count on happening anywhere else in greater Columbus.

In less urban areas and sprinkled throughout Columbus you might find communities with no sidewalks. These homes are usually a little farther from the street and the yards are big. Typically, these areas also have less traffic and less need for sidewalks and the poor children who live there never have the opportunity to break their mother’s back.

Despite living on one of the oldest blocks of the city, my sidewalks are unusually wide, probably 5 feet.  This adds to my overall love of my block and is a small luxury that I really enjoy, even if only in the back of my mind. Also, because my neighborhood is so urban there are people who walk up and down my street all the time. I love that about my street.

In Gahanna and Dublin there just aren’t random people walking down your street and the quotient of local flavor goes down because of it. I’m sure many Columbus area home buyers might find that comforting but I say if you’ve got sidewalks, use them.

Authored by Joe Peffer | Discussion: 1 Comment »

This Columbus Home has Instant Equity — Oh Really?

September 14th, 2009 categories: About Me?, Bexley, Clintonville, Downtown, For Home Buyers, For Home Sellers, German Village, Grandview, Market Updates, Olde Towne East, Real Estate News, Short North, westgate

I've always loved the stone pillars flanking this Bexley Home

Instant Equity. Two words anyone buying real estate in Clintonville, Bexley, Grandview, Downtown, Short North, Berwick, Westgate or anywhere else in Central Ohio love to hear.

The problem is, I’ve heard those two words too often lately. The problem is the context and the definition of instant equity.  In my opinion, anyone buying a home that has instant equity is anyone buying a home at a substantial discount to the Market Value of the  home. That range from selling price to market value equals instant equity (though the bank might not think so).

What I’ve heard a lot lately is something along these lines, “…and this Seller paid $338,500 for it just a few years ago and is selling it for only $299,900. That’s a lot of instant equity for your buyer!”

Hold on a minute Buster, who cares what the Seller paid for it! In today’s market, if the home the Seller paid $338,500 for in 2006 is only worth $290,000 then there is NO instant equity. It’s simply priced at or around market value. Market value simply means whatever the market (all you buyers out there in Columbus thinking of buying a home) is willing to pay for it.

Hold on though, because it works both ways…..I always tell Buyers that what the  Seller paid for the home has no bearing on what the home is worth.  That means if the Seller bought the Columbus home via foreclosure, at auction or even on the market with Instant Equity….ie-if the Seller got a deal…you can’t punish them when buying the house. They are the one who got the deal, they deserve to make a profit and the Buyer should anticipate paying market value for the home. Just because the Seller got a deal on the home doesn’t mean she has any obligation to pass that deal on to the Buyer.

Authored by Joe Peffer | Discussion: No Comments »

The Death of the American Dining Room

July 28th, 2009 categories: Bexley, Clintonville, For Home Buyers, For Home Sellers, German Village, Grandview, Olde Towne East, Short North, westgate

This is a post I’ve been thinking about for a long time. Over the last few years, Buyers have fallen on both sides of the  dining room fence.
The bottom line-Dining Rooms are like Fireplaces, everybody wants one but few use one. Americans love the idea of a dining room but how many families do you know that eat dinner together every night gathered around the dining room table? I do maybe 3 nights a week and I think that’s high. I also don’t have a formal dining room, rather a spot to fit a formal dining room table between the kitchen and living room, all of it open space.

When staging a home to sell, the  dining room better look like a dining room. If it exists, show it off.

If you live in Bexley or Upper Arlington or parts of Worthington and have a 4 bedroom house then buyers are looking for dining rooms and you’d better have one. If you have an $850,000 contemporary home in Upper  Arlington though, it’s OK to NOT have a dining room but instead have a large open space.

Grandview buyers like traditional floor plans and, obviously, so do Olde Towne East buyers – but those homes are so large that there’s plenty of space for everything. Clintonville buyers are always looking to maxamize space and I’ve seen many homes that live without a dining room but always  “re-install” it when it’s time to sell.

Eating space is important in German Village and so is historical accuracy.  Space, however, is often at a premium and a dining room just isn’t as important as it used to be. When those same German Village couples start their families and move to Bexley, though, it becomes more important, at least in theory.

Dining rooms are a hold over to pre-television, pre computers, pre-this-family-has-3-practices-and-a-music-lesson-tonight households. They just aren’t as important as they used to be. Eating dinner together as a family is a romantic notion that isn’t always feasible to follow-through on.

Authored by Joe Peffer | Discussion: No Comments »

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