condo talk and the FAll CondoQuest

The Fall CondoQuest will be held the first week of October, 1-9, 2005. It's a great way to go through condo projects all across Central Ohio. The downtown projects get all the press, but these are where people are downsizing, upsizing and enjoying themselves outside of the central city.
Speaking of newish condo projects, I was in 3 condos sort of new to the market today -- the townhome-rowhouse-apartments-turned-condos on Warren and 4th across from Jeffery Place and across the street from the Wonder Bread factory so, yeah, it smells great all the time. They weren't bad for around 130 but I'm not jumping up and down either. I also looked at a good size 2 bedroom flat condo on park street across from Goodale, nice place, just needs some character put back in it. A 2nd floor flat condo on the corner of Hoffman and Madison has lots of character, 2 bedrooms and a bonus washer and dryer for that building. It has underground parking and although it's a little choppy, I really am a sucker for those units.

Don't forget to find your condo at CowtownCondos.com - my condo-specific web site.

As for Condo Quest, here are some brief particulars. Follow the link to read the Daily Reporter Article which mentioned that condos have appreciated 13% over the last 18 months locally!
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Twenty companies will be showcasing home products throughout various Central Ohio communities, including Blacklick, Canal Winchester, Clintonville, Columbus, Delaware, Dublin, and Gahanna.

Condos in Galena, Grove City, Hilliard, Lewis Center, New Albany, Pataskala, Pickerington, Powell, and Westerville also are part of the tour.
In addition to Truberry Group and New Albany Realty, CondoQuest builders include: Avery Place Condominium, Beazer Homes, Bob Webb, Camelot Custom Builders, Centex Homes, C. V. Perry, Daystar Development LLC, and Duffy Homes.

Edward Communities, Jimenez-Haid, O'Keefe Development Co., Portrait Homes, Rockford Homes, Romanelli & Hughes, Schottenstein Real Estate Group, Showcase Homes, The Stonehenge Co., and Today Homes will have condos on the tour, as well.

The nine-day event, free to the public, will showcase homes ranging in price from $109,990 to $850,000.

Central Ohio Realty.Com Wins Major Award

Last week, at the Ohio Association of Realtors Yearly Convention, my website won the 2005-2006 Realtor Website of Year Award. Thanks to everyone who listened to me go on about it as I went through revision after revision to get to a website worthy of this prestigious award. I approached it from the consumers point of view. If I wanted to buy a home in Central Ohio, what would I want in a website. I haven't plastered my ugly mug all the over the website or asked for visitors to give up private information about themselves so they can get a so-called "report," but I have given people good, solid real estate information and a fantastic venue for finding the home they would like to purchase and educating themselves as to the local market -- the very local market. I still have a long way to go on the website and, as always, I am very welcoming of feedback. Thanks for hanging in there with me and if we haven't met yet, I am looking forward to it.

Knob and Tube Wiring & Home Insurance

You see it everywhere in the older parts of Columbus. I'm not just talking about Olde Towne East or German Village, but Bexley, Grandview, Old Arlington and Clintonville areas too. Not so much in the suburbs like Westerville or Gahanna since the homes are newer.
It seems that knob and tube wiring is becoming an insurance problem for many carriers. Some say a home with knob and tub wiring is not insurable under today's standards. Until recently, it hasn't seemed to be much of problem but more and more times, buyers are running into trouble. I'm not saying you can't get a home owner's policy at all, but you may have to pay a higher premium simply because of the existence of the knob and tube wiring.
What's wrong with knob and tube? Well, providing the wires are secure, properly sheethed with no dry rot or major cracks, not much, it'll run whatever it's been running for the last God knows how many years just like it has been. The distinct possibility exists, however, that it will rot, crack spark and start fires - maybe -- down the line.
What does this mean to you?
If you're selling a home in Central Ohio and it has knob and tube, why take a chance on it being a turn off or deal breaker, get rid of it. Especially get rid of it if, as is often the case, it's merely in place but not working and hasn't been working in some time. It looks bad and buyers wonder if any of it is live.
If you're buying a home in Columbus or Central Ohio, be aware of this potential insurance problem but don't panic. Plan to take update the wiring in the first year or so and then go back to your insurance company and ask for a reduction.
If you're rehabbing an older home, DO NOT go to the trouble of putting in a new box, new breakers, new wires coming out of the box only to hook those new wires up to the old knob and tube. Believe me, I see it all the time and while the shiny new box may fool a first time home buyer, it won't fool an experience Realtor. If you're doing a rehab, do it right.
More and more, the days of the drive by OK from the insurance company are slipping away. Today's home policies hinge on an inside inspection and pictures of the electric box.
I'd love to see a comment posted regarding what new home owners can expect as a ballpark figure for home insurance and some additional input on the knob and tube debate.