The Sell for 1 Percent team unpacks current market dynamics on June 4th, 2026, noting that current mortgage rates hover consistently between 6.5% and 6.75%, with no five in sight but a potential for seven. While overall inventory in the Columbus metro area has climbed to 5,127 houses, and pending sales are higher than previous years—Columbus median home prices are only just now inching above 2025 levels, a trend that may lead to more short appraisals. With Columbus projected to gain 750,000 residents in the next 20-25 years and average home prices now near $400,000, homeowners in Franklin County considering selling can leverage a 1% commission model to save tens of thousands, making now a pragmatic time to act amidst stable rates and increasing buyer acceptance.
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Full Transcript
Hey there everyone, Jaime with Sell for 1 Percent Realtors here on June 4th to give you guys a market update. June 4th, 2026. We are just three days from celebrating a birthday.
And you guys have matching shirts on today. I appreciate you color coordinating that for us. I called Jay earlier and said blacks the name for your birthday.
I missed the memo. Old number 39. You know what number I wore at Centennial High School on the football team? Take a wild guess that it was 39.
Ooh, you would be correct. So, how old do you think I feel with a son at 39? How old? How old? How old is that? Wasn’t that like an old? It’s old. It’s old.
Trust me. Only, well, you don’t want to know my pain. You don’t want to know.
You can’t handle the truth. Hopefully, you guys can impart some of your wisdom on our viewers at that age, some of your experiences. Talking about the mortgage industry, Rich.
I know, for me myself, I’ve seen a little bit of an influx in buyer activity. I don’t know if you’re seeing the same or what’s going on. I don’t think mortgage interest rates have changed a whole lot, but it seems like things are turning a little bit.
Yeah, rates, pretty much status quo right now, we’re 65 to 675 range. I locked a loan yesterday and a large down payment, 800 plus credit, but it was a higher loan amount. It was $600,000 loan amount on a 900,000, 975 purchase.
The rate I had to lock out was 6.625. Had that same formula been a lower loan amount, maybe 150,000 or something like that, it probably would have been six and a half. Then if they had a little bit negative credit, we would be six, seven, six, eight.
We’re right in that range. That’s where we’ve been for a long time, really. We did have some pressure pushing us up for a while.
The 10-year treasury was in the high 460s at one point. We’re in the mid 440s now. We seem to stabilize a little bit.
That’s where we’re rolling at this point. For people that are waiting around, I would say, I do not see a five in front of these rates anytime in the near future, but I see series of events that could happen to put a seven in front of it. There’s no need to wait.
If you need to act, I would say do it now. For the most part, we’re just staying status quo. Very good.
Have you seen an influx in mortgage applications? I don’t know. That’s anecdotal. My business is chugging along like a normal June.
I haven’t seen anything that would lead me to believe it’s outside the norm. I guess I talk to people every day. People are more accepting of the rate right now than they were a year and a half or two ago.
You know, when you tell them the rate’s six point, I told the person yesterday, lock in your rate at 665. He was good. He understood it.
Not, wow, that rate’s high. Man, oh, wow. I don’t know.
Shop around or whatever. I think people are accepting the fact that rates are where they are. If they’ve got to buy, they’re going to buy.
They’re serious about it. That’s a good thing for all of us, right? Yeah. Especially for Jay Marinski, who’s working with the buyers and Jay, who handles our sellers.
Then Rich brings up the, I don’t want to say the back end, but he brings in the money and makes it all happen. You know, the one thing that I’m seeing, and Jay, you can talk about this. I’ve had two deals in the last couple of weeks that the appraisals have come in short.
Are you seeing anything like that with your listings? No more than usual. A couple of them, but that’s just normal stuff. It happens this time of year and prices kind of balloon up.
No, I’m not really seeing a big influx of that. Okay. Then I’m the odd man out.
Yeah, I haven’t seen- You hoard all the good listings and then you get the crazy high prices and fast sales. I think that’s not really going on here. Well, it’s all part of the marketing and the advertising and the whole bit.
It’s a whole package that comes together and we’re all using the same thing since we’ve all learned from the same points. Like I said, it’s just interesting that I haven’t had that. I haven’t had a short appraisal probably in a year.
Then all of a sudden here in the last couple of weeks, I’ve had two and it caused one of my deals to fall out because it was way short. Now it was an interesting situation because this buyer was an FHA buyer who needed closing costs and so we raised the price some to accommodate for the closing costs, but the appraisal came in for $7,000 less than our asking price. Then when you on top of that, we were way off and the buyer didn’t have any money.
It’s an FHA deal. Now we’re stuck with the appraisal for the next 90 days, but odds are that it’ll be a conventional or a VA loan or the seller would be okay with the FHA appraised price, but he just can’t throw in another $7,000, $8,000 of closing costs. Like I say, it’s just interesting that this time of the year you would think you’d have a little more flexibility and I haven’t gone back to look at the appraisal to say, this is a $300 appraiser that’s just pushing them through.
So I don’t know. It just, it seemed a little odd to me. So that’s why I raised the concern.
It rains it pours sometimes and more than one appraisal fall short at a time. That’s tough luck. Have you had that problem, Rich? Seems like they come in waves.
I haven’t seen a lot of short appraisals now. We’ve been pretty lucky, but I agree with Jaime that I think it comes in waves. It seems like, oh my gosh, it’s happening now.
And you start looking over your shoulder like that, but no, I haven’t seen a whole lot. Nothing more than normal. Just once a Tuesdays.
Yeah. I’m trying not to put it into the year. Jaysen Barlow, Theory of Life.
Back when I was a wee lad and had to work at the Wendy’s so I could take my car out on dates, dad forced me to get a job to drive my own car around town. I used to notice that whether it was three o’clock in the afternoon, eight o’clock at night, 1.30, wasn’t just like the rush hour time, but when one car came through the drive-thru, there was like 30 cars. And so what I started to do, if I wanted to go to White Castle to eat, I would think, I’m going to go to Wendy’s and I would pull up and there’d be a line around the building at Wendy’s and nobody at White Castle.
So I was able to trick the universe into making the lines go to the opposite store. Now, when you get that schizo-brained, that’s when you can become a successful real estate agent, when you start thinking like that. So maybe put out there something different about your short appraisals and you’ll get a different result, father.
That would be my wisdom. I don’t know if he has the power you do though. You may not.
My power level is pretty high. You would think as you get older, your power, you know, like in Harry Potter should grow stronger. I think it actually starts to weaken.
I was thinking more like the evil emperor that you feigned not being strong and then you shock them all. There you go. There you go.
Just waddling around with my bad hip. And all of a sudden he’s in a championship game of pickleball and beating everyone. So you never know.
Now I do subscribe that if you put it into the universe, I’ll have to think about going to Wendy’s when I’m really going to White Castle and put that into the universe. You’ll be amazed. There’ll be no line when you pull up.
There you go. So I’m all in. How to beat the lines.
So for Rich, you need to think, I’m going to go to the not self-checkout line and then you’ll have nobody there when you roll up your favorite self-checkout. Or I’m going to park in the pickup. I’m going to park in the back of the parking lot there.
When you roll up, there’ll be front row spots. That’s always a killer. Me and your mother went to a dinner downtown Delaware last week.
She said, take that spot. It was a three, four minute walk down to the restaurant. It was like, I’m fine with that.
Then we get down right in front of the restaurant was a parking spot. And so I said, if you hadn’t been in such a hurry to park, we could have parked here because she’s always the one that wants to park right in front of the place. So I’m surprised she’s not the one in the pickup spot with you, Rich.
Yeah, my wife’s the opposite. She just wants to pull in to the first available spot. She doesn’t care about being close.
She doesn’t like, you know, when I start looking for a close spot. So seems like wives have opinions about what parking spots we take from what I can gather. Just like where I live, I don’t care as long as happy wife, happy life, all that bit.
But I do try to park out at parking lots so people don’t ding my car. And I’ve gotten to the point now where I take pictures. Before I go into the store, take a picture of my car.
There’s nobody within 10 parking spots. And then I take a picture when I come out and there’s three or four cars around me. It’s just like, maybe I’m putting it into the universe.
You need to be one of those guys that parks. You got to park at a corner, you know, so that nobody can park near you. Yeah.
Yeah. Well, that photo album of your car in a parking lot. Yeah.
Is that the was Mike Hopper who people would take up two spots. They have like chalk in his car or something. They would like outline.
Yeah. He would draw a line. Yeah.
You’re taking up two spots. Yeah. That’s a good example.
He saw more people do that. He gets into more altercations than anyone I know because he’s he’s looking for it and you find it. You got to think the opposite.
Well, he’s packing all the time, too. So he’s OK. There’s a there’s an old country song looking for trouble in all the wrong places.
So. That was looking for love and all the wrong. I think that’s true.
I can say things like, hey, there’s an old country song. Jaime and Jaysen have no clue. I get caught when Rich is rich.
Rich would call you on it. I just figure that you’re wrong with about 85 percent of the things that you say. Rich mums, the word Google and Chachi were the worst things ever invented for dad stories.
Yeah. Dave, what do you find in with the top tier gas these days? Gas is down. Any any top tier gas update? Yeah.
Gas is down. I try to keep you guys updated. I had a special there at Speedway the other day on roller dogs.
I think I sent you guys a picture. You got two. Here’s a question for you.
Yeah. And so when did I start? Go ahead. Good.
How about your roller dogs? Now, just gas is down to about 434 on average, it looks like to me. So and then you’re 87 at Speedway. The other day I saw was at 404 or something.
So even bounce back up. Yeah. It just depends on, you know, what’s going on.
But I am happy. When did they start putting ethanol? When did they start putting ethanol into the mix? How long has that been a thing? That’s a good question. I don’t know, but it’s definitely something.
I’d say 20 years ago. Maybe longer. The thing that I find interesting is I go to Rich’s Sheets and I go to the end pumps now where the red handles are and where they have like the no ethanol mix.
Right. That gas is like $6 a gallon. Yeah.
And so it makes me wonder like, is that just another way to hide all this inflation is we just give you poor quality products? Just push methanol into it. Have some gasoline for $4.50 and it’s half corn. I mean, I feel like I’m taking crazy pills.
I mean, and that’s one thing that I will say about homebuyers. I got one right now in particular that is wise to this where he’s like, I don’t want a new build. I don’t want a house that’s been slapped together with the cheapest possible lumber and the cheapest possible products.
We joke all the time about, oh, this is when wood was real wood. You go to a house in German village and try and carry that lumber out of that house. It’s extremely heavy versus today.
You can get a two by six and one person can carry it around on their shoulder. It’s like I said, I feel like I’m taking crazy pills. We get the kids, the cereal, was it cocoa pebbles? They call it chocolate pebbles.
And the family size is a normal size of cereal. There is no more like jumbo boxes. And it’s like $7.
It’s crazy. You need to go to Costco and get the mega box. And then we look at prices on home sales and wonder why they’re all $450,000.
So here’s a crazy madness, crazy stat for you. According to perplexity, ethanol has been blended into a fuel in the U S since the 19 twenties. That’s crazy.
Well, there you go. And this delete everything I just said. Yeah.
When did it become federally mandated? Uh, says, uh, for the modern era, widespread gasoline, uh, blending, the big shift happened in the seventies and 1980s when commercial alcohol blended fuels starting in 1979 and ethanol first uses gasoline oxygenate in 1988, but standard oil, old John Paul Getty started in 1920. So it became federally mandated in 2005. Mandated.
Yeah. It sounds ethanol use the energy policy act of 2005 and the energy independence act of 2007. We can’t even blame it on a ball.
They can’t blame all, you know, I know that we used to have a, uh, agent, uh, Bob, um, I’ll shoot what was the name that, um, his, his father-in-law, um, was, uh, one of the Perry’s I don’t remember if it was Gaylord or the other brother, uh, pitchers in the major leagues. And, uh, they were investing in ethanol gasoline plants here in Ohio. And, uh, I always thought that was kind of interesting.
So yeah. Well, I think, uh, I think we’ve about run our course here on, uh, real estate info, unless anybody has anything else to add. I got lots of things that we didn’t get the Jada bomb 5,127 houses available in the Columbus metro area.
Inventory continues to climb. Forget the deadline we set, but I had a bet we would get over 6,000. And I really think if we didn’t have all this stuff with, uh, Iran and ceasefire that we would be up there.
But, uh, I will say that my, if, and the ceasefire, I’m hearing people at like the pool talking about ceasefires. I mean, it’s definitely out there into the public sphere and I guess, obviously. Right.
But I mean, like I’m hearing like moms talk about, Oh, they’re been trying to a ceasefire for two months. Now, if, if things were as bad as what the negative headlines read, the Tino, the treasury that Rich is talking about would be up in like the five hundreds. We’d have a seven in front of interest rates.
Gas would be $6 a gallon. So I think that the people that are in the know and not the ones that are reading the headlines or watching the 24 hour news channels, I think that we’re probably closer to a deal than what, you know, the, the editors of the newspapers and TV stations want you to believe. I don’t think it’s as negative as everyone makes it out to be.
Cause if it was these investors would be, like I said, the prices would be a lot higher than what they are. So I don’t think it’s as bad as what it’s portrayed to be. Maybe I’m just, uh, I’m kind of like rich.
I’m just like in a little bubble, you know, doing my thing, having a typical June selling houses. And then something that Jaime mentioned earlier with the, uh, home sales and more buyers, the pending sales right now are, I mean, got probably a thousand higher than they were this time last year, which is higher than 2023, 2022. So we have way more pending home sales right now.
Um, and that’s nationwide, but also that the numbers I’m citing are in Columbus. And so the one thing that is also interesting on these charts that I cannot share with you, because dad, the host is disabled screen-sharing. I can share with you.
On the medium price, dad, we’re lower than where we were in 2024 and 2023, but we are just now starting to inch above where we were in 2025. Normally that happens in like April, May. We’re a little bit later.
We’re a little bit late to get there. So when you talk about your appraisals being short, well, they’re only looking back six months or 12 months. There’s not going to be a lot of the value right now.
So maybe that is something to watch for is more short appraisals. I mean, that’s going to be a natural by-product of prices going above where they were last year. So that’s all I’ve got.
Market is, uh, market’s pretty strong for sellers. 2024 would have been a little bit better, but it’s really not bad at all here in, in 2026. No.
And I think that, you know, people are, again, we talk about the new norm and I think that rich at that six and a half percent is kind of the new norm. You know, just rates are just kind of sitting there. Um, Jay, uh, I don’t, and we could probably go to next April on your 6,000 active listings.
Um, I don’t know that we would be there even if interest rates were still in the, I think if interest rates were less like in the high fives that you would have less inventory. Cause I think there would be more buyers in the market as a result of lower interest rates. And so they would be pulling those listings off.
I don’t think that sellers are waiting for interest rates to drop. I mean, one of the things that we’re, we’re starting to see, like you talked about last week is the golden handcuffs where, you know, people are just in life-changing situations, whether it be a job, whether it be empty nester, whether it be, you know, moving, you know, to town, uh, parents, you know, as we start to head towards August for the highest state, you know, coming into town to buy property for their kids to live in versus renting. I mean, there’s all these life events that happen, having a new kid have to upgrade, you know, the house, so on and so forth.
Um, so I think that those buyers are still buying. And, you know, we know that M O R P C, uh, last year, maybe a year and a half ago now, you know, had a report out that said, you know, over the next 20 to 25 years, there’s going to be another 750,000 people move into Columbus. And so, you know, we’re getting 25, 30,000 people a year moving to Columbus and that’s putting pressure on inventory levels.
You know, those people are buying houses or they’re, you know, it seems like every corner, you know, they’re putting up three and four story apartment buildings. And I don’t think they’re having any trouble renting those places. So I think real estate’s good.
Um, you and I talked about this the other day, Jay, that, um, you know, when I got into the business 27 years ago, real estate was good and, you know, average sales price was like 112,000. Um, I don’t know if you can look real quick, but I think average sales price now is right at $400,000. And what year was that? 1998.
Um, and the average, you know, uh, commission check is way up, which is what, you know, our sell for 1%, you know, concept is that, yeah, housing has gone way up, but most still want to charge 6%. And so, you know, it’s a big difference from 2012 at the bottom of the foreclosure crisis when the average home sale in Columbus had dropped to 155, $157,000, I think was the number. And now it’s close to 400,000 and our average sales price is higher than that because people like the concept of saving money when selling their home.
So, you know, uh, we have a of seven, $800 million homes, you know, in our inventory right now, uh, because you’re talking about as my, as my dad used to say, now you’re talking about real money. You know, you save two, 3% on a million bucks. That’s 20, $30,000.
I just closed a house over in Granville, million dollars. And those people saved, you know, $30,000 in commissions. Um, that’s real money.
Even three or $4,000, you know, on a $200,000 house, you’re going to save at least six, maybe more. And so that’s real money. And so long story short is, is that I think the market will continue to plug along.
We’re going to have ebbs and flows like everything else, but, um, you know, I’m happy to hear Rich is busy. Uh, Jane, you’re busy. Jaysen’s busy.
I’m as busy as I want to be. And so life is good. Put that into the universe.
Life is good. Cocoa Pebbles has gone up 92% since 1998. Okay.
So put that into the universe. Yeah. We’re doing Cocoa Pebble trackers now instead of Big Mac trackers.
So what was the price of Cocoa Pebbles in 1998? The price of Cocoa Pebbles in 1998 was $2 and 75 cents. It is now $5 and 50 cents after inflation today. Okay.
Real estate has, uh, in Columbus has gone up about 170% since 1998. So it’s outpaced Cocoa Pebbles. Yeah.
And real estate also during recessions, it’s outpaced inflation. Real estate typically during a recessionary times also does very well and outpaces inflation. The biggest key is wages have to keep pace and right now they seem to be, so that’s a good sign.
But if wage, if wages go stagnant, well then houses can’t keep going up at this clip either. So, and that’s why I think, you know, there’s that meme online about boomers and their houses, they bought for $2 and 50 cents that, you know, you guys feel wealthier because even though groceries are higher, you know, you’re, you’re looking at your real estate values balloon up. And so everyone feels wealthier.
So it’s an interesting dynamic. I feel wealthy because I know you. I was going to say, I feel wealthy because you’re my dad and Jaime’s my brother and Rich is my go to lender over at Highlands Mortgage.
And if you want to be a part of the family, just keep in mind, even though Cocoa Pebbles has gone up 92%, our commission is still 1%. We will save you tens of thousands of dollars in commissions. If you have any questions, leave them in the comment section below.
Like and subscribe. Like if you like my Cocoa Pebble math and subscribe if you like dad’s boomer math and we’ll see who wins. Thank you.
By the way, everybody for Dave, for Rich and the whole gang so long.