Aug 2024 Dayton OH Housing Stats
There never is a shortage of national or state statistics on how the housing market is doing. But those broad stats can be misleading for specific cities and regions. If you live in the Dayton OH area you are probably most concerned with the Dayton, Ohio numbers. Let’s take a look at how Dayton compared to a year ago as the benchmark. Aug 23 to Aug 24 total home sales remained about the same posting just -1.05% lower this year. Part of the reason for that lower number was related to the fact that total new listings were down nearly -8% from this time last year. Many sellers fear not being able to find a replacement home and this is a big factor in the posting of this lower number. This decline in new listings (low supply) and sales has pushed our average sale price up 9.68% over Aug of 23! Year to date sales are very positive with sales up an incredible 10.25% and average sale price up 9.68%. 2024 is shaping up to be a great year and is expected to finish strong as interest rates slide a bit. I’m always available to discuss in more detail and even break these stats down to a neighborhood level for you.
Low Voltage Wiring
During your buyer’s home inspection you find out the home is wired with low voltage switches that look like this. A push button style. Maybe instead of 4 buttons there are 6 or 8 or even more on one cover plate. It’s called low voltage WIRING not to be confused with modern day low voltage LIGHTING. Light switches like these are most often seen in mid century homes and were considered state of art in the 1950s and 60s. It was typically a 24 volt system that used small gauge wire run from the switch to a relay box usually found in the attic. That activated a relay that would then direct a full 120 volts to the fixture. It was considered to be the safest way to wire at the time, especially around kitchens and bathrooms. The system also made it easy to control multiple zones from a single area. For instance, it could be set up to turn on multiple lights throughout the house or exterior, say, from the owner’s suite. A pretty cool system for the era. However, it wasn’t long before the ground fault interrupt (GFCI) gained popularity which helped lead to the demise of low voltage wiring. By the 1970’s you didn’t see many new installs. I still run into them today when showing homes around Dayton, Ohio, especially in Oakwood and older neighborhoods. Parts are still made today so if you have this system and like it you can continue to maintain it. More often than not, once it starts having problems homeowners have them pulled out and replaced with modern wiring.
Bowed Foundation Wall - Helical Tiebacks May be the Answer
Are you trying to buy a house and the inspections pointed out a bowing or leaning basement wall? Still want the house? There are options to ensure the wall is stabilized. Helical tiebacks are one answer. The tiebacks are a simple two piece system consisting of the tieback and plate. The tieback is essentially a giant screw about 10 feet long. A hole is drilled through the bowed wall and the tieback is inserted in the hole and ‘drilled’ into the earth behind the wall. The tieback is run in until just a few inches is protruding from the wall. Next, a steel plate with a hole is placed over the protruding end of the tieback and a nut is then screwed on. This nut is tightened to a certain spec that ensures tension on the wall. There you have it, the wall is now reinforced by the tension of the tieback working to keep the wall stabilized in place. How much do helical tiebacks cost, around 2000.00 each. Your application may require several. Keep in mind these don’t always straighten the wall. They stabilize it to stop further movement. They can work well on retaining walls too. I see these from time to time as I help people buy and sell real estate in the Dayton, Ohio area. Wall anchors are another option to stabilize. I’ll cover that in another post.
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