Positive Signs For Central Ohio Housing

Home Prices rise as inventory drops - positive signs for Central Ohio housing

(May 19, 2011) The number of homes listed for sale this year is lower than the previous year suggesting the central Ohio housing market is continuing its steady recovery. The 3,940 homes added to the market in April represent a 15.1 decrease compared to April of 2010 and the 3,886 new listings in March were almost 22 percent lower than the previous year according to the Columbus Board of REALTORS®. The number of new listings January through April (13,247) is almost 20 percent lower than the same period last year.

“Sales prices have reflected the surplus inventory on the market for the last few years,” says Rick Benjamin, 2011 President of the Columbus Board of REALTORS®. “And housing follows the basic economic principal of supply and demand. When there are more homes on the market than buyers, the price of the home may have to drop to compete.”

“However, if inventory levels continue to drop, we’ll see the price of homes begin to rise again. For instance, the median price of homes added to the market last month - $157,900 – is 5.3 percent higher than inventory added in April of 2010.”

Currently, there are approximately 15,146 residential homes available for sale in the central Ohio area – 12,322 single family homes and 2,824 condominiums.

Home sales in April were 8.9 percent ahead of the month prior (1,487); but trailed last year by 25.9 percent. Year to date sales (January through April) are 13.2 percent lower than the same period last year.

“We didn’t expect April sales to come close to that of last year,” offers Benjamin. “Last year, the home buyer tax credit deadline was April 30 so buyers were breaking down the doors to get an approved contract.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 4.84 percent in April which is the same rate as March; the rate was 5.10 percent in April 2010.

Click here to view the March sortable housing market report by area.

Click here to view the entire central Ohio Local Market Update.

The Columbus Board of REALTORS® Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fayette, Madison, Morrow, Pickaway and Union Counties and parts of Champagne, Clark, Hocking, Licking, Fairfield, Knox, Logan, Marion, Muskingham, Perry and Ross Counties.

USA Today: Construction of new homes falls in April; factory production dips

The story is here

WASHINGTON (AP) — Construction of new homes in America plummeted in April, dragged down by a major drop in apartment building, and U.S. factories in April produced fewer goods for the first time in 10 months, as a shortage of parts from Japan forced automakers to cut output.

Builders broke ground on 10.6% fewer new homes last month from the previous month. The seasonally adjusted rate fell to 523,000 homes per year, the Commerce Department said Tuesday. That's less than half the 1.2 million homes per year that economists consider a sign of a healthy market.

Single-family homes, which make up roughly 80% of home construction, fell about 5% in April. Apartment and condominium construction plunged more than 28%.

Building permits, a gauge of future construction, fell 4%.

In a separate report, the Federal Reserve said that manufacturing production fell 0.4% in April. That followed nine straight monthly increases. But excluding the drop in activity at auto plants, factory production rose 0.2% last month.

The decline in factory production, the single biggest slice of industrial activity, blunted increases in mining and utilities output. Overall industrial activity was flat in April.

Overall industrial production has risen nearly 11.5% since hitting a recession-low in June 2009. But it remains about 7.5% below its pre-recession peak in September 2007.

The weak home construction data provided further evidence that the housing industry is far from recovering, analysts said.

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said the late Easter may have had some impact. He noted that the pace of construction rose in March before dropping in April.

"The underlying trends, as far as we can tell, are about flat, at a very low level," Shepherdson said.

Tighter lending standards and high unemployment are weighing on the housing sector, which is in the midst of one of its worst years in history.

Builders are also struggling to compete with millions of foreclosures, which are forcing down prices for previously occupied homes. The median price of a new home was about 34% higher in March than the median price for a re-sale. That's more than twice the markup in healthy housing markets.

In some cities, prices are half of what they were before the housing market collapsed in 2006 and 2007. Many potential buyers who could qualify for loans are worried that prices will fall further. Others are hesitant to put their own homes on the market when prices are dropping.

The weak housing market is weighing on the overall economic recovery. Each new home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the builders' group.

In past modern-day recessions, housing accounted for 15% to 20% of overall economic growth. In the first post-recession year, between 2009 and 2010, housing contributed just 4% to the economy.

On Monday the National Association of Home Builders said its survey of homebuilder sentiment was unchanged at 16. That's the same level it has been for six of the past seven months. Any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.

And when asked about where they see sales of single-family home heading over the next six months, the builders surveyed offered their most pessimistic outlook since September.

Italian Village Street Cleaning. Don't Get Towed!

More information is here

Tri-Annual Street Sweeping

To keep debris and foreign objects from entering the aging sewers, the City of Columbus Street Maintenance Division sweeps the Italian Village three times each year. Street parking is prohibited and strictly enforced during the sweeping.

Block Watch members post windshield reminders on each vehicle in affected areas and yard signs the weekend before each sweeping. Click here if you'd like more information about volunteering to help distribute flyers.

You can also sign up for text reminders from the Block Watch here.

Ticket & Tow Statistics

A 55% decrease in tickets and a 48% decrease in tows were recorded in August; the first month the Block Watch distributed flyers. Additional decreases in tickets and tows were recorded in subsequent months as well.

Italian Village Street Sweeping Schedule

Sweeping occurs the third Tuesday and Wednesday of May, August, and November.

Parking restrictions are from 8am - 4pm Tuesday for the north and east sides and 8am - 4pm Wednesday for the south and west sides of the street.

What happens to vehicles not moved?

Vehicles not move in street sweeping areas are subject to ticketing and towing at owner's expense. A 'No Parking Zone' ticket is $50 and towing is $125 plus $18 storage for each 24 hour period (verified as of 3/22/10). Towed vehicles may be retrieved from the City of Columbus Impound Lot at 2700 Impound Lot Road.

View Italian Village -- Street Sweeping Flyer Distribution in a larger map

Don't get towed! "Text Message Reminder" Enrollment

Yes, I'd like to receive text message reminders on Italian Village street sweeping. Three messages will be sent each week of street sweeping (May, August, November). One Monday evening as a reminder and then Tuesday and Wednesday before the 8am restrictions begin. Standard incoming text message charges may apply. You're mobile number will not be used for any other purpose.

---

* Required

10 Digit Mobile Number (no dashes) *

Service Provider Email Domain * Contact us if you don't see your provider. (select your mobile provider below) @vtext.com @txt.att.net @tmomail.net @vmobl.com @message.alltel.com @messaging.nextel.com @messaging.sprintpcs.com

Powered by Google Docs

Columbus Dispatch: City closes Clintonville bridge for repairs to pillars

The story is here

City closes Clintonville bridge for repairs to pillars

Timeline to fix span unclear for now

Friday, May 6, 2011 03:06 AM

By Encarnacion Pyle

THE COLUMBUS DISPATCH

Columbus officials closed the Calumet Street bridge in Clintonville yesterday after contractors became worried about the condition of its concrete pillars.

"We decided not to take any chances and err on the side of caution," said Rick Tilton, assistant director for Columbus' public-service department.

Contractors were doing routine maintenance on the bridge at Cliffside Drive, immediately north of Arcadia Avenue, yesterday when they noticed that several pillars appeared to be deteriorating more rapidly than they should, Tilton said.

They called city officials, and the bridge was closed as a precaution until repairs can be made, he said. The crew had been working on the bridge for a couple of weeks before noticing the problem.

It was open to traffic while the work was being done.

The bridge was inspected last summer, and no issues were reported, Tilton said. City bridges are inspected annually.

He said the bridge will remain closed until further notice. He couldn't give any estimates about how long the work would take.

Clintonville Area Commissioner James Blazer II said he didn't learn about the problem until city officials sent out a news release yesterday afternoon.

"I drove on the bridge yesterday, and it seemed fine," he said. "But it is best to leave these kinds of things to the structural experts."

Blazer said the closure would be an inconvenience to residents, but that he's glad the city is on top of the issue and will make the necessary repairs.

Motorists are advised to use the following detours:

• Eastbound traffic on Arcadia Avenue: Take Indianola Avenue to westbound Weber Road.

• Westbound traffic on Arcadia Avenue: Take N. High Street to eastbound Weber Road.

• Eastbound traffic on Weber Road: Take Indianola to westbound Arcadia Avenue.

• Westbound traffic on Weber Road: Take N. High Street to eastbound Arcadia Avenue.

epyle@dispatch.com

Top 10 Reasons to come to Gallery Hop this Saturday, May 7th...

Top 10 Reasons to come to Gallery Hop this Saturday, May 7th... Reason #1 Valvoline NextGen is sponsoring May Gallery Hop Valvoline NextGen is committed to educating consumers on the importance of recycling oil and the carbon footprint that is left on this planet from mass drilling is vital. Please stop by Hop Hub at 663 N High this Saturday and see how they can help you be GREEN. You will receive coupons off your next GREEN oil change. Learn more at www.valvolinenextgen.com Reason #2 AICUO Art Awards The 2011 AICUO Awards have added a brand new exhibition to the program. This May, each of the six AICUO Award finalists will be showcasing their work at Gallery Hop in the following locations: Brandt-Roberts Galleries Ken Aschliman Grid Furnishings Wendy Birchfield pm gallery Rose Hermalin Sherrie Gallerie Katherine Richards Studios on High Gallery Rachel Shelton Terra Gallery Anh Hoang Vu Reason #3 Roy G Biv Gallery Exhibit Reception: 997 N High Street Exhibit Title: Matthew Cherubini and Doo-Sung Yoo Art Media: video, robotics,dance, installation, animal organs, performance About the Exhibit: Matthew Cherubini creates videos with alternate characters and personalities. Doo-Sung Yoo explores the boundaries between art and science by exploring the technical augmentation of the human body. Reason #4 Shop Substance for Mother's Day Artisan Necklaces for Mother's Day + $15 Off Purchases of $100 or More at Substance for FASHION CONSCIOUS PEOPLE! Reason #5 Rose Bredl Flower & Garden Stop in at 664 N High St for the Herb Promotion of buy 2 get 1 free. Also, a reminder that if you buy a plant and a pot, they provide complimentary potting. For those ready for Spring, they have new hydrangeas and garden roses. Reason #6 Peace.Love.Bling Stop near Global Gallery for Genuine Jewelry- Fabulous- Affordable- Handcrafted. Empowered designs that fit everyone and can be worn differently everyday. Fairly traded and committed to supporting causes that empower women and emerging entrepreneurs. Designed in the USA. Reason #7 Bloomsbury Loft offers mother's day specials All mothers receive a free complimentary gift with any purchase! Also we will be having a mother, daughter class in the near future and if they sign up on Mother's Day they can a bogo price. Stop by 745 N High St. Reason #8 Jacob Neal Salon would like to help you celebrate Mother's Day... by offering a gift certificate promotion. For every $100 gift certificate purchased you will receive a $25 gift certificate. We invite you to stop in the salon at 650 N High St. from now until Mother's Day for the perfect gift for your special mom! We also have a new spring collection of jewelry in stock that would also make a great Mother's Day gift. We have a variety of necklaces, earrings and bracelets for all different tastes. Don't miss out on these fabulous deals to make her mother's day special! Reason #9 Bernard's Tavern Leinenkugel's Summer Shandy on tap now, stop by 630 N High St during your Gallery Hop stroll. Reason #10 Homage - Surf Ohio Gradient Stop into17 E Brickle St. and take home a new take on an old favorite, Silk screened with a beautiful, natural gradient so that no two pieces are exactly alike.

Columbus Dispatch: [Franklin] County offers emergency bulletins on Twitter

The posting is here

County offers emergency bulletins on Twitter

Franklin County residents now can receive emergency updates through Twitter by following Franklin County Emergency Management and Homeland Security.

The agency launched the new Twitter feed today.

“It's about warning people and preparedness,” spokesman Mark Anthony said. “It's also about sharing information about getting a community back to normal after an emergency.”

The feed will send out on local severe weather alerts and warnings as well as emergency preparedness tips and other emergency and homeland security news.

In the event of a tornado, flooding or other disaster, the Twitter feed might be used to send out instructions on how to apply for aid or warnings about scam artists offering fake repair or recovery services, Anthony said.

Users can customize their Twitter settings to have the posts sent to their cell phones as text messages or they can view them through other social media websites.

Anthony said the agency only will be using Twitter as a way to distribute information. It doesn't intend to monitor Twitter for tips and comments from other users. Anthony discouraged people from trying to use Twitter as a way to contact the agency. For emergencies, people should call 911.

Posted by Elizabeth Gibson on May 2, 2011 3:14 PM | Permalink