Lewis Center home sales by subdivision 2005 thru 2009

• After reviewing the past 5 year home sale statistics as per the tables below:
• 2005 thru 2006 the largest amount of homes and condos were sold in the older established Lewis Center subdivisions such as Oak Creek, Oak Creek East, Villages of Oak Creek, Olentangy Glade, Olentangy Meadows, Summerfield Village, The Shores, Wynstone, Parkshore ,Walker Woods, Retreat at Grand Oaks and Parkview Northeast.
• 2007 older subdivision home sales started to decrease by 2008 thru 2009; there was a noticeable decrease in number of homes that sold along with prices that the homes sold for.
• 2007 thru 2008 a few new subdivisions saw building start such as Alum Crossing, Lake Shore, Little Bear, McCammon Estates, Olentangy Crossing, Wynstone Village, along with the new developed section of Wilshire and TheVillage at Polaris Park.
• 2009 first few months there was a decrease in the number of homes sold and what they sold for, mid-year might have been the turning point, the number of homes sold and prices started to increase, likely due to the $8,000 first time home buyer tax credit.  The tax credit has been extended and expanded to include 1st time and repeat home buyers; just need to be in contract by April 30, 2010.  

Pool and Parks

If you currently reside in Orange Township Lewis Center Ohio you know it’s a wonderful place to live. Got to love the township parks and the North Orange Aquatic Center, which was expanded in 2009, the pool addition enlarged the aquatic center by 2,760 square feet. The grand opening of the new pool addition was on July 31, 2009. The added square feet gives township residents the ability to enjoy 25-meter lap lanes, a water sitting area and a water-basketball area which provides more space for adults and teens.

Park and trail expansions 

In 2010 the Orange township trustees budget calls for 2.8 million allocated for park site improvements which will include a Glen Oak Park project and two new leisure trails. The trail near Glen Oak Elementary School will connect to Weatherly Dr. in the Alum creek subdivision and a trail will connect Northpoint Meadows Blvd. to the Loveland parcel.  The East Orange Rd. trail will connect from Walker Wood Blvd. to South Old State Rd., another section will connect from Abby Knoll Dr. to Bale Kenyon Rd. 

 Lewis Center Ohio Growth

As mentioned in a previous post Lewis Center Ohio, Delaware County, has experienced tremendous residential and retail growth from 1990 thru 2010. After the Polaris Fashion Place opened in 2001, the growth just kept on going like the Energizer Bunny… many new restaurants and retail shops opened in the area … in fact in 2008 the Polaris Fashion Place opened the Polaris Outdoor Lifestyle Center which is an open air shopping venue which feels like a small town main street.

So if you are thinking of selling or purchasing a home don’t delay call Karen today to take advantage of the tax credit…

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A Great New Year’s resolution:  

Calling all Central Ohio first time and repeat home buyers, legislation extended the first time homebuyer tax credit along with expanding the program to include a $6,500 tax credit for repeat buyers. The Worker, Homeownership, and Business Assistance Act of 2009, was signed by President Barack Obama on November 6, 2009. 

First time buyers:   

 If you didn’t take advantage of the initial $8,000 tax credit the extension gives you the opportunity to take advantage of the tax credit so don’t delay the June 30 deadline will be here before you know it. Extension of the $8,000 tax credit for first time home buyers; Buyer’s can claim 10% of the purchase price of their home, up to $8,000 – if the buyer hasn’t owned a home as a principal residence in the past 3 years.

Repeat homebuyers:

The tax credit is equal to 10 % of a home purchase price up to a maximum of $6,500. To be eligible to claim the tax credit, buyers must have owned and lived in their current home for 5 consecutive years out of the last 8 years. There are no restrictions if you want to downsize, you don’t even have to sell your existing home as long as you move into the new home on the day that you purchased it which must be your principle residence.

Other terms & time frames:

• Principle residence includes new construction, existing, single family, condo, town home, manufactured or mobile homes and boasts that function as principle residence. The tax credit doesn’t have to be repaid. The price of the home can’t exceed $800,000.
• All home purchases after January 1, 2009 thru April 30, 2010 qualify for the tax credit. Binding contract signed by April 30, 2010 and closed by June 30, 2010 will also qualify. Tax credit is extended until May 2011 for military personal whose duty takes them overseas.

Income limits:

• Homes that were purchased after January 1, 2009 but before November 6, 2009 the income limits are $75,000 for single taxpayers and $150,000 for couples filing jointly.
• Homes that are purchased after November 6, 2009 the income limits are $125,000 for single taxpayers and $225,000 for couples filing jointly. 

Tax credit forms:  

• The IRS will require you to provide the closing settlement statement (forms) 
• Along with the request for the credit using the IRS Form 5405

Once-in-a-lifetime opportunity:

Please do take advantage of the homebuyer tax credit. The National Association of Realtors and Real Estate agents worked hard urging government officials that the extension would help the economy recover.  Historically low interest rates will not last forever. If you are thinking of making a home purchase you could possibly qualify to take advantage of the tax credit, a great new year’s resolution that should be at the top of your list of goals to be obtained in 2010.

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