Dayton Ohio Homes; Where is This Crazy Market Going?
What an amazing couple of years with the Dayton Ohio real estate market. I can't help reflect on it all as we enter 2014 what a crazy dynamic market the Greater Dayton Metro Area has become. We saw back in 2011, 12 and 13 a ton of foreclosures, and for a while there it was a land of golden opportunity for investments and flips, to procure a property to rent out, or just get a steal on a home of your own.
Moving into 2014 there seems to be a lot consternation about where the Dayton Ohio real estate market is going. I for one, believe it's headed in a positive direction, and poised to become a more balanced market which is better overall. Gone are the days of deep discounts though you can still get a decent price 3-7% under most asking prices.
Big Changes Could Effect Dayton Ohio Real Estate Profoundly.
Consider all the things going on. Ohio legalizes gambling and this does bring jobs and employees seeking housing near casinos and racinos, the state makes more revenue and the boomerang is, those funds are being partially used to fix up neighborhoods, fund to tear down decrepit houses and make room for new construction. Everywhere we look we see renovations and rehabs, and home values have gone up according to the Dayton Area Board of Realty Statistics. In fact, as of September 2013, homes rose in value for the 29th consecutive month looking back at the DABR statistics.
Staff Reporter Olivia Barrow with the Dayton Business Journal recently reported one of the largest property owners in Montgomery County is here to stay after entering the market in January. Magnetar Capital LLC purchased a portfolio of 1,900 homes, mostly in Huber Heights, from Teresa J. Huber, the widow of Charles Huber, who developed the city in the 1950s and 1960s. Some have concerns these will be rentals and devalue local markets in the area, but whose to say these properties won't be renovated and improve neighborhoods full of eyesores? After all, why invest in real estate if you're not going to make improvements. I believe investing is healthy, and glad to see the homes not falling into further disrepair and an chance to provide more quality housing.
Another bold move I see is a $36 million dollar project moving forward; the Water Street development down town. Phase one of the plan is to construct 50,000 square feet of office space with a three story garage, and 480 parking spaces. Interestingly there are 161 luxury housing units in three buildings. Now you tell me, does that sound like the city is preparing to go down hill or fold?
I foresee a continuing upward trend for the Greater Dayton Metro Area and Miami Valley. If you're looking for a home, have particular tastes, maybe nervous as a first time buyer, or just need a very experienced competent Ohio Realtor, you come see me. I love what I do and have my finger on Dayton Real Estate's pulse. Let me put my experience to work for you.
Juanita Limes - Your Greater Dayton Area Ohio Realtor - Give me a shout for all your real estate needs,
937-776-6903 or just email me.