Coming to visit in Feb. looking for a home & nice neighborhood (Gahanna: houses, neighborhoods)

[danielle_pal]

great response thanks a lot!

[streetcreed]

Originally Posted by bgfalcons86

I don't pretend to be a real estate expert. However, I can add the following observations. During the most recent County Auditor appraisals in 2011, overall home values in Upper Arlington and Bexley (stable, inner-ring suburbs) have actually held pretty firm during the housing bubble and even increased slightly (in the case of Bexley). On the other hand, New Albany (an outer-ring suburb that had a building boom during the mid 2000s) saw a distinct drop (almost 9.5%) in its overall home values. That leads me to believe that UA & Bexley homeowners may be a bit more firm in their bottom lines, where as a homeowner in New Albany might be willing to 'flex' a bit. It does seem that the housing market around here is beginning to stabilize.

Would also like to mention that the "highly demanded' columbus central city neighborhoods saw increases in value or stability. Such as Short North (victorian village, mostly italian village), German Village. Also most of Clintonville and especially Beechwold.

Lets not forget that Grandview area is very stable and has more than held up in the recession. These more central/innerring areas are holding up and not as soft as some of the more exurb areas.

[bgfalcons86]

Originally Posted by streetcreed

Would also like to mention that the "highly demanded' columbus central city neighborhoods saw increases in value or stability. Such as Short North (victorian village, mostly italian village), German Village. Also most of Clintonville and especially Beechwold.

Lets not forget that Grandview area is very stable and has more than held up in the recession. These more central/innerring areas are holding up and not as soft as some of the more exurb areas.

I specifically mentioned UA & Bexley, since the number of homes in the $600K range is probably a bit higher than most of the other stable areas. That said, I agree with your observations regarding Clintonville, Beechwold, Grandview, etc.

[behindenemylines]

Originally Posted by streetcreed

Westerville & New Albany There are many areas of westerville that have great homes in your price range, specifically the northern sections near Polaris. The commute would be about 20 mins or could be slightly longer, but would be less than New Albany. Then further out you would have New Albany as an option. The downside being that Newalbany is the furthest away (more than 20 mins). I do think you will find homes within your price range (not sure as large as you want) in New Albany.

$600k buys a lot of house in New Albany. Also, depending on which neighborhood you are in, New Albany can be a very quick commute. We are less than a minute from the 161 so its easy as pie to zip to anywhere. There is a house about eight down from us that is listed for $459k, about 3700 sq ft. (4bed, 3.5 bath) and its yard meets up with a 5 acre green space that is perfect for dogs. Its a younger community with tons of school age kids in the neighborhood. Its not a country club sub but its the absolute friendliest neighborhood we have ever lived in. We can walk to the schools, library, aquatic center, auditorium as well as several markets, restaurants and bars.

[danielle_pal]

thanks for your comment. We will be visiting soon. I hope I like Columbus. I hear you have a Saks so that helps! J/K!

[danielle_pal]

Also, what neighborhood is the least risky in terms of an investment?
Upper Arlington due to location, Dublin for city planning or is it over-built?, New Albany, Bexely?

[danielle_pal]

And by that I mean as in 10 years from now.

[wrightflyer]

Streetcreed has given some great advice. I really do recommend looking at Clintonville, even with Columbus Public. I have always liked its character and it usually is not as snotty (IMO) as UA. More urban, but not like Victorian Village, and as streetcreed said, wonderful private catholic schools. If you want diversity and socioeconomic variety, Clintoville would meet those things. Yards may be smaller, but there are parks nearby, especially Whetstone Park of Roses.

Regarding the investment outlook:

It becomes harder the further out you try and predict in terms of the real estate market. There are just too many variables (school fiances and performance for example). In my completely uneducated in real estate guess, I have always felt Upper Arlington will hold value rather well. I say that in part because of its track record (it has more history, both literal history and statistical history).

I would certainly ask a realtor this question and one that has seen the Columbus market for 10+ years.

More non-real estate expert opinion: Dublin will be interesting because some of the older areas will never equal the newer areas, where homes are much larger and more decadent in their build. Still, the city has a knack for good planning, even for a suburb. Bexley has lasted as long as it has (see UA notes) and will probably see decent ROI in 10 years. New Albany as has been noted in the auditor's report saw a pretty steep drop in appraisal, however, that number is for taxation purposes only and should not be confused with a market appraisal. Still, the market will probably be softer in the far out suburbs, which New Albany is, for a longer period of time. Still, over 10 years, its hard to tell.

Again, looking 10 years out, it is hard enough for an non-realtor to really say. Even a realtor will be hard pressed to answer that question. In the end, pending another huge recession (or worse) or a local district having a huge drop in performance, I figure over 10 years you should have some return.

And yes, there is a Saks at Polaris and Easton has many high end boutiques (think Louis Vuitton, Burberry, Tiffany).

[danielle_pal]

wrightflyer thanks for you courage, that is a tough question to answer and unless you are a real-estate psychic you can't answer it! But I really appreciate your opinion as I still think 650K is a lot of money to invest into a home I grew up on a lake in the middle of Minnesota don't cha know?!

[danielle_pal]

I found a nice home in Powell? No one seems to talk about that suburb. Is it nice? Otenlangey school district if I remember right. Thanks!