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General Ohio University Discussion/Alumni Events Topic
Topic: Record Freshman Class and OU Runs Out of Dorms?
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Kinggeorge4
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Posted: 10/6/2022 7:22 AM
greencat wrote:expand_more
Backtracking in the thread here for a moment... the shortage of dorm rooms and takeover of two apartment buildings near the campus. How does that play into the availability of apartments to "grown-ups" and the cost??
One of the highest cost of housing in the state of Ohio.


For students or in general? Housing in general (townies and other "grown-ups") shouldn't be that outrageous in poverty stricken SE Ohio. (?)
One of the main reasons employees of Ohio University do not live in town. Rent is high and house prices are high along with hefty tax bill.
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BillyTheCat
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Posted: 10/6/2022 9:11 AM
greencat wrote:expand_more
Backtracking in the thread here for a moment... the shortage of dorm rooms and takeover of two apartment buildings near the campus. How does that play into the availability of apartments to "grown-ups" and the cost??
One of the highest cost of housing in the state of Ohio.


For students or in general? Housing in general (townies and other "grown-ups") shouldn't be that outrageous in poverty stricken SE Ohio. (?)
In general, Athens cost more than the OHIO average. Facts are a hard things! Maybe the fact that Athens is so expensive is why the area is poverty stricken, that and the low wages that OHIO University pays their classified staff and workers.

COST OF LIVING
Athens Ohio USA
Overall 79.4 82.7 100
Grocery 104 96.1 100
Health 89.9 88.7 100
Housing 66.8 61.6 100
Med. Home $195,000 $179,700 $291,700
Utilities 104.8 100 100
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100=National Average
BillyTheCat
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Posted: 10/6/2022 9:15 AM
Kinggeorge4 wrote:expand_more
Backtracking in the thread here for a moment... the shortage of dorm rooms and takeover of two apartment buildings near the campus. How does that play into the availability of apartments to "grown-ups" and the cost??
One of the highest cost of housing in the state of Ohio.


For students or in general? Housing in general (townies and other "grown-ups") shouldn't be that outrageous in poverty stricken SE Ohio. (?)
One of the main reasons employees of Ohio University do not live in town. Rent is high and house prices are high along with hefty tax bill.
Exactly KingGeorge!! the surrounding area is also high. 100 year old home in town next to me, sold for $350K last year, single family dewelling.
Last Edited: 10/6/2022 9:25:47 AM by BillyTheCat
Kinggeorge4
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Posted: 10/6/2022 10:02 AM
You have to get out quite a bit to be reasonable. Athens and Athens county are not cheap due to the ability to rent. Everything is higher here. Simply go to Lowe's in Athens, price point. Then go to Parkersburg, same brand same product will normally be cheaper. A few years ago I saved almost $40 on plastic drain pipe by crossing the river. Athens is high. Only beer is cheap.
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Alan Swank
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Posted: 10/9/2022 4:29 PM
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
BillyTheCat
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Posted: 10/10/2022 8:18 AM
Alan Swank wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
People who just took a cup of coffee around town for a few years, do not have any idea of what the prices in this community are like.
Deciduous Forest Cat
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Posted: 10/10/2022 9:24 AM
Alan Swank wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
SBH
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Posted: 10/10/2022 9:49 AM
The blah basement is included in the square footage, which is not considered appropriate in the real estate world. Looks wildly overpriced to me. Maybe a $350K home in a lot of other areas.
BillyTheCat
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Posted: 10/10/2022 10:17 AM
Deciduous Forest Cat wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
http://www.athensohiorealestate.com/home/results-154861p/...
Alan Swank
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Posted: 10/10/2022 11:30 AM
Deciduous Forest Cat wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
Check out the auditor's website. Square foottage is just under 2500 and the appraised value is 338K

https://www.athenscountyauditor.org/Searches/datalets/dat...
Alan Swank
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Posted: 10/10/2022 11:43 AM
BillyTheCat wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
http://www.athensohiorealestate.com/home/results-154861p/...
Sold 5 years ago for 116K and currently appraised at $104K.
Athens
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Posted: 10/10/2022 1:02 PM
Alan Swank wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
Check out the auditor's website. Square foottage is just under 2500 and the appraised value is 338K

https://www.athenscountyauditor.org/Searches/datalets/dat...
That is the county tax assessment. They usually trend lower and lag in part to not put high tax burden on older residents on a fixed income. The question of listing that property at $550k is would it appraise for $550k in a real estate transaction and if it doesn't the buyer runs a risk of appraisal gap.

With the basement square footage what I've seen on appraisals is deduction of that square footage which is a utility room in the tune of $25k to $50k. That is they are counting the basement it as finished below grade.
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BillyTheCat
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Posted: 10/10/2022 1:13 PM
Campus Flow wrote:expand_more
Just to give you an idea on house pricing in Athens. This house is at the corner of Elmwood and Shannon on the near East Side. the last house in an area commonly called upper Elmwood.

https://www.zillow.com/homedetails/85-Elmwood-Pl-Athens-O... /
4/3 and nearly 4000 sf? Looks very nicely updated. That price doesn't shock me in the least. That's a very upper echelon house in the area. If you're trying to make a point, I'm sure you could find a badly over-priced fixer upper.
Check out the auditor's website. Square foottage is just under 2500 and the appraised value is 338K

https://www.athenscountyauditor.org/Searches/datalets/dat...
That is the county tax assessment. They usually trend lower and lag in part to not put high tax burden on older residents on a fixed income. The question of listing that property at $550k is would it appraise for $550k in a real estate transaction and if it doesn't the buyer runs a risk of appraisal gap.

With the basement square footage what I've seen on appraisals is deduction of that square footage which is a utility room in the tune of $25k to $50k. That is they are counting the basement it as finished below grade.
Small town appraisers and transactions. Yes, it would come back just fine.
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