Pictured is a house under construction near the Columbus Family YMCA. There is limited housing stock in Columbus.
CAROLYN KOMATSOULIS, THE COLUMBUS TELEGRAM
It is good for residents to come in and talk about payment in advance, noted Olk.
“There is a homebuyer class that is good for them too,” she said. “One thing about affordability that people don’t talk about too much is property taxes. So when our real estate taxes go up, that part of the affordability gets hit. “
When it comes to affordability, there is more than just taxes in the picture.
“The prices have risen, that’s difficult. Interest rates are low, which helps a lot, ”she said.
Keeping insurance premiums low is helpful, but not always under control, she said. Credit scores and the style of the house also play into the premium, Olk said.
Housing supply and trends
The lack of housing in the region is not new, said Olk.
“It was probably about 25 years ago when we had a housing study and they said we needed 1,000 more houses in our community,” Olk said. “We knew we had a housing shortage, but 1,000, that’s a lot of houses. But they were right. “
She added that the area has come a long way.
“In the 1980s, when I started lending, we had an economic problem. Agriculture was bad. The interest rates were terribly high. I think we were around 15.5% … (there) there wasn’t a lot of residential activity, ”said Olk. “We miss these houses. We will miss these homes that weren’t built forever. “
