I have heard many reminesce about prices in high-demand areas in years past in Columbus, Indiana.   Frequently, they recall the missed opportunity to purchase at lower prices in these high-demand areas at unbelievably low prices (by today’s standards).   One of these discussions often involve lake lots at Grandview Lake.   

Although I am unsure of these facts, it is said that at one point in time years ago, lake lots were available for $8,000 – obviously a fraction of the lot cost in Columbus now.  A question usually follows such as, “Why didn’t you buy several lots when they were so affordable”?

Sometimes I wonder if this could be another time in our history of residential real estate in Columbus Indiana when homebuyers in the future will remark that extraordinary opportunity existed in 2009.

• While homes are not selling at a fraction of their former value in Columbus, appreciation has certainly been halted.  In some price ranges, there is an oversupply and the lack of demand plus strong seller motivation to sell has resulted in reduced prices.  
• “Thinking outside the box” is certainly playing a role in Columbus home sales for trade-ins, buy-down of interest rates and other seller incentives certainly exist.
• “Thinking outside the box” is a philosophy now being used by our Century 21 Breeden real estate team as each agent tries to position the listed property to create interest in the eyes of buyers.

With very appealing interest rates, a great inventory in all price ranges and the creativity of incentives being used by those with a strong desire to sell NOW, the 3rd quarter of 2009 appears to  be a fine time to do real estate business in Columbus.

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