Well, I considered a You Tube video this year, but just ran out of time to make it. Besides, it is a little awkward reviewing it later on and the kids think I'm a nut case anyway :0).
It's been a very busy month for me in the real estate biz. I've worked with several buyers in the last month, and am currently working with a couple more in time for the Christmas holiday. I've had a couple showings on my listings as well... people are still moving.
I have a four year streak on writing up Purchase Agreements on the night before Thanksgiving... Just goes to show if you don't take time off around the holidays, the business can be there.
We are still slow in comparison to years past, and the market is still lagging. Hopefully our new government will spark our economy, and the auto makers will get their cash soon, and our economy will get a jump start. Here's to great things in 2009.
The family news is probably going to take up a bit of blog space this month... hope you don't mind.
Dave Lauren & Bella are doing great. Bella has her first sled and we're anxiously waiting the first good snow so we can make a great snowman, and pull her around the yard. I even had to blow and bag the leaves so we don't wind up with a "hairy" snowman.
Daves job is going well, he's settling in and enjoying it.
Jessy was just accepted at Beaumont Hospital for her final semester internship. She is moving back home mid December to finish her education. Almost finished... now if we can just find someone to sublet her apartment in Kalamazoo, we'll be great. It's a houseful but it should be great having everyone back home for a while.
Anthony came in and stayed for Thanksgiving... naturally we spent just about every night playing Presidents and knuckleheads (thats the p.c. term for what the college kids actually call it :0). He has pretty much convinced me that I can't live without the new iPhone... can't wait until my latest phone contract is up. I think I'm all over it. You can tell the measure of a football man when he comes to your town and maintains an air of politeness even while watching your home town "team" get their butts handed to them on Thanksgiving (again)...
Kelly is on the mend with her back issues... the MRI shows she has a compressed disk. She started physical therapy a few weeks ago, and it seems to be working. Still no hockey for her, but she's not pushing it. David is helping her with all the decorations. Not sure which one is the bigger "Clark Griswold" of the two of them. She loves the decorations, and he had the boxes out of the basement three days before Thanksgiving (might be a record).
To finish, thanks so much for another successful year in the real estate business. Your help in these tough economic times are greatly appreciated. Thanks for thinking of me and recommending me to your friends and family... always appreciated.
You're calendars are in the mail in the next week or so. If you don't receive one, it may be that I don't have your mailing address. If you don't get it by Christmas... feel free to call me and I'll make sure my records are straight, and get one right out.
Thanks again, and Merry Christmas to all
Dave, Kelly & the Fam
Monday, December 1, 2008
Wednesday, November 5, 2008
Friday, October 31, 2008
November - one of my favorite months of the year...
Hey all,
I'll skip the pumpkin seed recipes this time and resist the urge for a seasonal you tube video (maybe December), and simply wish everyone a happy and peaceful Holiday season.
On the serious and business portion of our November blog, whatever your political views are (whether you're right or wrong :0)) ... make sure you go out Tuesday and excercise your right to vote. The last two elections were decided by hundreds of ballots not thousands or millions... make your voice be heard.
The two blog entries directly below this one are great articles regarding fall home prep and fighting tax assessments in a declining market. Both are relavent articles to brush up on.
As always thanks so much for your referrals. Your family and friends make the difference in my business. The last three years have been tough on my industry, but we keep plugging away, and find ways to sell homes and get buyers into the multitude of great opportunities that are available.
Click the above link to my listings to see what I currently have in inventory, and use the Century 21 search engine to look for homes in areas you might have interest in... For that matter, call me or drop me an e-mail and I can set up a search for you and send periodic listings of homes you may have interest in.
So you're all waiting to hear about the family I know...
Jessy is slugging out the toughest semester of her college career to date. She's doing very well, and is anxious for this to all be over in April, so she can join the ranks of the employed... so are we frankly :0).
Dave Lauren & Bella are well. Dave started his career at T.A.C.O.M. finally this month and enjoys it very much. He started playing hockey in an adult league, and other than a lack of wind, he's doing pretty well. Lauren has her hands full with a very active 2.5 year old. I have to admit, Bella has me-ma and G-Diddy wrapped. Christmas is going to be a real ball this year.
Kelly has been fighting a pain in her lower back (no that's not a metaphore for me), which has hampered her ability to play hockey this year. Still going through testing and treatments to figure it all out.
I'm finally recouping from all the aches and pains from softball... it's tough getting old. We haven't quite retired the motorcycles to the corner of the garage yet, but little time is being spent riding these days.
Let me know if I can help with any of your real estate needs, whether you need to buy, sell, or just need advice... always willing to assist.
Dave
I'll skip the pumpkin seed recipes this time and resist the urge for a seasonal you tube video (maybe December), and simply wish everyone a happy and peaceful Holiday season.
On the serious and business portion of our November blog, whatever your political views are (whether you're right or wrong :0)) ... make sure you go out Tuesday and excercise your right to vote. The last two elections were decided by hundreds of ballots not thousands or millions... make your voice be heard.
The two blog entries directly below this one are great articles regarding fall home prep and fighting tax assessments in a declining market. Both are relavent articles to brush up on.
As always thanks so much for your referrals. Your family and friends make the difference in my business. The last three years have been tough on my industry, but we keep plugging away, and find ways to sell homes and get buyers into the multitude of great opportunities that are available.
Click the above link to my listings to see what I currently have in inventory, and use the Century 21 search engine to look for homes in areas you might have interest in... For that matter, call me or drop me an e-mail and I can set up a search for you and send periodic listings of homes you may have interest in.
So you're all waiting to hear about the family I know...
Jessy is slugging out the toughest semester of her college career to date. She's doing very well, and is anxious for this to all be over in April, so she can join the ranks of the employed... so are we frankly :0).
Dave Lauren & Bella are well. Dave started his career at T.A.C.O.M. finally this month and enjoys it very much. He started playing hockey in an adult league, and other than a lack of wind, he's doing pretty well. Lauren has her hands full with a very active 2.5 year old. I have to admit, Bella has me-ma and G-Diddy wrapped. Christmas is going to be a real ball this year.
Kelly has been fighting a pain in her lower back (no that's not a metaphore for me), which has hampered her ability to play hockey this year. Still going through testing and treatments to figure it all out.
I'm finally recouping from all the aches and pains from softball... it's tough getting old. We haven't quite retired the motorcycles to the corner of the garage yet, but little time is being spent riding these days.
Let me know if I can help with any of your real estate needs, whether you need to buy, sell, or just need advice... always willing to assist.
Dave
Appealing assessed value - click article for full view
This article was in this months realtor magazine... thought it might be interesting given our declining market over the past few years.
Fall clean up and winter prep tips...
Hey all,
Cooler weather is on us, and we're all scrambling to get our places prepped for the winter ahead. Dave Jones of Accu-Spec (see link above) recently sent this out to his clients and I thought it was a good check sheet of things to do for winter prep. I figured I'd forward this to you... Daves a great guy and does good work if you need help with any of these items. His contact info is below.
FALL
Clean debris from gutters.
Make sure that downspout extensions are in place.
Turn off circuit breaker or pull fuse block for central air.
Furnace should be cleaned and checked by contractor.
Check furnace filters and humidifiers.
Check all exterior caulking and reseal as needed.
Install storm windows if present.
Install storm doors.
Check brick chimneys for mortar cracks.
Check roof shingles and flashings.
Check window and door weather stripping.
Winterize irrigation systems.
Turn off exterior hose bibs.
Winterize lawn equipment.
Tune up snow blower.
Check attic for proper insulation and ventilation.
[12-18" of insulation is recommended along with proper ventilation.]
Make proper reservations for warm weather destination for January or February... You will need it!!!
Please call if you need help preparing for this winter.
Dave Jones
Accu-Spec Home Inspections
248-393-1250
Cooler weather is on us, and we're all scrambling to get our places prepped for the winter ahead. Dave Jones of Accu-Spec (see link above) recently sent this out to his clients and I thought it was a good check sheet of things to do for winter prep. I figured I'd forward this to you... Daves a great guy and does good work if you need help with any of these items. His contact info is below.
FALL
Clean debris from gutters.
Make sure that downspout extensions are in place.
Turn off circuit breaker or pull fuse block for central air.
Furnace should be cleaned and checked by contractor.
Check furnace filters and humidifiers.
Check all exterior caulking and reseal as needed.
Install storm windows if present.
Install storm doors.
Check brick chimneys for mortar cracks.
Check roof shingles and flashings.
Check window and door weather stripping.
Winterize irrigation systems.
Turn off exterior hose bibs.
Winterize lawn equipment.
Tune up snow blower.
Check attic for proper insulation and ventilation.
[12-18" of insulation is recommended along with proper ventilation.]
Make proper reservations for warm weather destination for January or February... You will need it!!!
Please call if you need help preparing for this winter.
Dave Jones
Accu-Spec Home Inspections
248-393-1250
Monday, October 6, 2008
New bailout package... Daves thoughts
Hey all...
Love the idea or hate it, we have a new new bailout package in place. My head has been swimming for two weeks trying to talk with people in the know, and analyze the info spilled on the t.v. from the talking heads.
For what it's worth, here's my take on it (from a Realtors perspective). The last several months we have seen banks tightening up standards for new mortgages as well as other sources of credit. Appraisers have been brutally adhering to stiffer and stiffer requirements placed on them by the banks. Unless you have spotless credit (a tall order these days), banks either deny loan applicants or bump them into higher interest packages.
Small businesses find it very difficult to obtain loans for cash flow, and even home equity lines of credit have been frozen (even if you were current on your debt repayment).
This tightening of the reigns is a direct result of mortgage companies lenient lending policies over the last several years, and the subsequent decline in the real estate market and plummeting home values. Many mortgages were written in the past few years for 100% of a homes value, plus a 10% equity loan allowing a buyer cash out, and no money down. Some professionals argue that too many loans were given to people that couldn't afford them in the first place... that's a topic for another day.
People, when faced with the realities of losing their jobs or taking wage cuts, often find themselves in the quandry of selling a home they have to pay the bank to get rid of... the result... they simply find it more financially beneficial to flip the keys to the bank and move on.
The bailout in theory allows the fed (you & I) to buy these mortgages off the banks books and relieve some of the pressure from them. This again in theory allows the bank a clean slate, and should make obtaining a loan (hopefully with a little common sense behind them) easier.
All that said... I am reservedly optimistic about the bailout. Can I say I was against it, but now I'm for it ? :0) (not to say I won't be against it again in the coming months)... no one seems to really know what the true outcome will be.
The real estate market and it's impact on our economy...
There are a few things we know about our economy today. Our auto industry is in trouble. We need to find a way to compete in the world market, or find replacement industry for our remaining work force. In the mean time, we currently have too much local business to support the local workforce and way too many homes on the market to be purchased by way to few buyers. The economy has a natural trickle down effect, and business will self level, and housing prices have been dropping and will stabilize sooner than later (we all hope).
While we wait for both to happen... this is a tremendous opportunity for buyers. I've preached this before, but if you are a first time home buyer or are looking for vacation home or investment properties, now is the time to buy. If you have stability in your income, and can qualify for a mortgage (I can help with that), housing prices are at levels similar to 10 years ago in some cases.
If you have a home to sell and want to buy up... now is the time. As long as you have equity and don't need to pay the bank most of the value of your home to get out, take your lumps on what you thought your house was worth, and know and understand the home on the other side (the high side) of the transaction is experienceing the exact same thing. You will undoubtedly make up the difference of the loss of your sold home plus plus plus on the buy side.
Take the initiative, price it smart, and you won't regret it. When we finally see real estate beginning it's rebound, we'll see the entire economy in detroit follow suit. That's how important your transaction and faith in our community are.
Give me a call if you need any advice about home values, obtaining a mortgage, or any general info about the market... I'm happy to talk.
Family...
At long last, David got out of the Army on 9/11 this past month. He returned home after a 32 hour drive from California on the 13th... just in time to go to the Lions game and watch them get crushed... but it was a good father/son outing anyway.
Bella & Lauren were pretty excited for him to come home as well, and Bella is soaking up tons of attention her dad is able to give her with his current vacation status. Dave was able to land a job at Tacom and starts work there on October 15th... thanks for all your support over the last 7 years.
Jessy & Anthony are doing well... Jessy is in the middle of her most difficult semester to date at Western, and can't wait until April when she is finished with her masters. Anthony is hard at work back in Chicago, and although he hardley rubs it in our face... gets to be a fan of three teams that are better than the Detroit teams... Too bad about those "Black Hocks".
Kelly & I are well, golf and softball are over, and bike season is just about to end. Kelly is playing hockey already this year, and I'm about to start my hibernation phase...
Again thanks for all of your referrals, they make my business flourish.
See you in November... after election day.
Love the idea or hate it, we have a new new bailout package in place. My head has been swimming for two weeks trying to talk with people in the know, and analyze the info spilled on the t.v. from the talking heads.
For what it's worth, here's my take on it (from a Realtors perspective). The last several months we have seen banks tightening up standards for new mortgages as well as other sources of credit. Appraisers have been brutally adhering to stiffer and stiffer requirements placed on them by the banks. Unless you have spotless credit (a tall order these days), banks either deny loan applicants or bump them into higher interest packages.
Small businesses find it very difficult to obtain loans for cash flow, and even home equity lines of credit have been frozen (even if you were current on your debt repayment).
This tightening of the reigns is a direct result of mortgage companies lenient lending policies over the last several years, and the subsequent decline in the real estate market and plummeting home values. Many mortgages were written in the past few years for 100% of a homes value, plus a 10% equity loan allowing a buyer cash out, and no money down. Some professionals argue that too many loans were given to people that couldn't afford them in the first place... that's a topic for another day.
People, when faced with the realities of losing their jobs or taking wage cuts, often find themselves in the quandry of selling a home they have to pay the bank to get rid of... the result... they simply find it more financially beneficial to flip the keys to the bank and move on.
The bailout in theory allows the fed (you & I) to buy these mortgages off the banks books and relieve some of the pressure from them. This again in theory allows the bank a clean slate, and should make obtaining a loan (hopefully with a little common sense behind them) easier.
All that said... I am reservedly optimistic about the bailout. Can I say I was against it, but now I'm for it ? :0) (not to say I won't be against it again in the coming months)... no one seems to really know what the true outcome will be.
The real estate market and it's impact on our economy...
There are a few things we know about our economy today. Our auto industry is in trouble. We need to find a way to compete in the world market, or find replacement industry for our remaining work force. In the mean time, we currently have too much local business to support the local workforce and way too many homes on the market to be purchased by way to few buyers. The economy has a natural trickle down effect, and business will self level, and housing prices have been dropping and will stabilize sooner than later (we all hope).
While we wait for both to happen... this is a tremendous opportunity for buyers. I've preached this before, but if you are a first time home buyer or are looking for vacation home or investment properties, now is the time to buy. If you have stability in your income, and can qualify for a mortgage (I can help with that), housing prices are at levels similar to 10 years ago in some cases.
If you have a home to sell and want to buy up... now is the time. As long as you have equity and don't need to pay the bank most of the value of your home to get out, take your lumps on what you thought your house was worth, and know and understand the home on the other side (the high side) of the transaction is experienceing the exact same thing. You will undoubtedly make up the difference of the loss of your sold home plus plus plus on the buy side.
Take the initiative, price it smart, and you won't regret it. When we finally see real estate beginning it's rebound, we'll see the entire economy in detroit follow suit. That's how important your transaction and faith in our community are.
Give me a call if you need any advice about home values, obtaining a mortgage, or any general info about the market... I'm happy to talk.
Family...
At long last, David got out of the Army on 9/11 this past month. He returned home after a 32 hour drive from California on the 13th... just in time to go to the Lions game and watch them get crushed... but it was a good father/son outing anyway.
Bella & Lauren were pretty excited for him to come home as well, and Bella is soaking up tons of attention her dad is able to give her with his current vacation status. Dave was able to land a job at Tacom and starts work there on October 15th... thanks for all your support over the last 7 years.
Jessy & Anthony are doing well... Jessy is in the middle of her most difficult semester to date at Western, and can't wait until April when she is finished with her masters. Anthony is hard at work back in Chicago, and although he hardley rubs it in our face... gets to be a fan of three teams that are better than the Detroit teams... Too bad about those "Black Hocks".
Kelly & I are well, golf and softball are over, and bike season is just about to end. Kelly is playing hockey already this year, and I'm about to start my hibernation phase...
Again thanks for all of your referrals, they make my business flourish.
See you in November... after election day.
Thursday, September 4, 2008
Fall is in the air...
There has been a flurry of activity with families scrambling to get into their new homes before school begins. Interest rates are holding well, but mortgages are getting tougher to obtain with banks tightening policies regarding money down, appraisals, and credit scores.
It still looks like a pretty strong buyers market, but housing prices have stabilized a bit... check out the article at the bottom of this blog for a quick explanation from an organization named Global Insight... interesting reading.
I have several new listings this month as well as a couple in the works, and a few pretty significant price decreases. Hit the link above for my listings... I'd appreciate you forwarding that link to anyone you know that might be looking for a great home in the area.
The family is great... Dave came home for a quick 4 day weekend to attend a family wedding. Lauren & Bella really have missed him and Bella is being a real trooper about the whole move. She is counting down the days until he'll be home. He is released from the Army on 9/11, and will drive home with his brother in law... we expect him to rejoin civilian life with us around 9/14...
Jessy was home for two weeks for summer break and Anthony joined us for the wedding as well. She just returned for her final push toward her masters... she should be finished in April, and I know she's looking forward to starting her career.
Kelly & I are well... haven't spent a lot of time on the motorcycles. Between weather oddities and Bella (& Laurens) ice cream fixation we've been a little busy evenings.
We appreciate all of your support in our real estate business... your referrals are appreciated. Please don't hesitate to pass my information on to anyone that has a real estate need, or anyone that just has a question they need answered... I'm happy to help.
See you in October
Dave
Global Insight WALTHAM, Mass., Sept. 4 /PRNewswire/ -- Global Insight, the world's
leading company for economic and financial analysis and forecasting, today
released the second quarter 2008 update of the U.S. housing valuation
analysis, House Prices in America, showing that single-family home prices
continue to fall across the country, though at a slower rate than last
quarter, and that extreme overvaluation of house prices is essentially
nonexistent, a sign the nation's housing "bubble" has popped and house prices
reflect a healthy balance in relation to long-term fundamentals.
Nationwide, house prices are down 4.8% from a year ago, this housing
cycle's peak high point. Prices fell in the second quarter in 152 of the 330
metro areas covered in the study, representing 46% of all single-family
housing units in the U.S. The second quarter decline of 5.3% (annualized)
compares with a 6.6% decline in the first quarter 2008, which represented 267
(81%) of 330 metro areas. For comparison, 295 (89%) declined in the fourth
quarter of 2007.
California, Florida and Michigan continue to account for the most severe
losses, representing 43 of the 50 worst performing metropolitan areas.
California and Florida had been among the most overvalued states for the past
several years. Michigan continues to struggle with the impact of a slumping
economy.
It still looks like a pretty strong buyers market, but housing prices have stabilized a bit... check out the article at the bottom of this blog for a quick explanation from an organization named Global Insight... interesting reading.
I have several new listings this month as well as a couple in the works, and a few pretty significant price decreases. Hit the link above for my listings... I'd appreciate you forwarding that link to anyone you know that might be looking for a great home in the area.
The family is great... Dave came home for a quick 4 day weekend to attend a family wedding. Lauren & Bella really have missed him and Bella is being a real trooper about the whole move. She is counting down the days until he'll be home. He is released from the Army on 9/11, and will drive home with his brother in law... we expect him to rejoin civilian life with us around 9/14...
Jessy was home for two weeks for summer break and Anthony joined us for the wedding as well. She just returned for her final push toward her masters... she should be finished in April, and I know she's looking forward to starting her career.
Kelly & I are well... haven't spent a lot of time on the motorcycles. Between weather oddities and Bella (& Laurens) ice cream fixation we've been a little busy evenings.
We appreciate all of your support in our real estate business... your referrals are appreciated. Please don't hesitate to pass my information on to anyone that has a real estate need, or anyone that just has a question they need answered... I'm happy to help.
See you in October
Dave
Global Insight WALTHAM, Mass., Sept. 4 /PRNewswire/ -- Global Insight, the world's
leading company for economic and financial analysis and forecasting, today
released the second quarter 2008 update of the U.S. housing valuation
analysis, House Prices in America, showing that single-family home prices
continue to fall across the country, though at a slower rate than last
quarter, and that extreme overvaluation of house prices is essentially
nonexistent, a sign the nation's housing "bubble" has popped and house prices
reflect a healthy balance in relation to long-term fundamentals.
Nationwide, house prices are down 4.8% from a year ago, this housing
cycle's peak high point. Prices fell in the second quarter in 152 of the 330
metro areas covered in the study, representing 46% of all single-family
housing units in the U.S. The second quarter decline of 5.3% (annualized)
compares with a 6.6% decline in the first quarter 2008, which represented 267
(81%) of 330 metro areas. For comparison, 295 (89%) declined in the fourth
quarter of 2007.
California, Florida and Michigan continue to account for the most severe
losses, representing 43 of the 50 worst performing metropolitan areas.
California and Florida had been among the most overvalued states for the past
several years. Michigan continues to struggle with the impact of a slumping
economy.
Tuesday, August 5, 2008
August is Dream Cruise Month
The dog days of summer are here. Not sure how yours has been going but ours is zipping by fast. Bella has been with us for over a month now and we're enjoying every minute of her visit. She has overcome her dislike of the pool, she's becoming a pretty good golfer (just need to work on her take away a bit), but she misses her daddy. He exits the Army 9/11/08 and will be home within a week of that date... we all can't wait.
Woodward cruise is just around the corner (8/16)... can't wait, maybe we'll see you out there.
As for real estate... my business has picked up quite a bit with the help from your referrals. I appreciate the opportunity to help your family and friends. Below is an excerpt from MCAR's August magazine. I thought it explains pretty accurately the current state of our real estate trends. There's also a link at the bottom of the article to the actual MCAR website. If you copy and paste this link to your tool bar http://www.mcaronline.com/default.asp?id=16 and scroll to the bottom of the page there are two PDF files you can download that show actual stats for June '08 vs '07. as well as the second quarter numbers for both Oakland and Macomb counties. It lists the info city by city. Thought you might be interested in seeing whats happening in your neighborhood.
Again thanks for your referrals, Kelly & I aprpeciate the business.
Dave
Now for the article:
For just the second time this year, sales figures for Oakland and Macomb counties in June posted negative numbers. Oakland’s overall sales were down almost three percent compared to June 2007, and Macomb’s overall sales dipped almost two-and-a-half percent. It’s still an improvement over the 2006-2007 timeframe, when sales in the two counties dropped 10 and 11 percent, respectively.
Of the Oakland municipalities that posted the greatest sales increases,* the top three – and five of the top seven – had a median sale price in the five-digit range:
Oak Park sales increased 61 percent (median sale price: $40,000)
Southfield sales increased 45 percent (median sale price: $71,000)
Pontiac sales increased 37 percent (median sale price: $19,500)
Both Novi ($266,345) and White Lake Township ($200,000) saw higher median sale prices, but then Hazel Park ($29,500) and Waterford Township ($99,950) contribute to the affordability parade.
Speaking of Novi, it was the only municipality in June to experience a decrease in listings and an increase in sales, sales volume and median sale price.
Oakland municipalities that experienced sales drops included Rochester Hills (down 37 percent), Birmingham (down 32 percent) and Orion Township (down 27 percent). Interestingly, though sales were down, the median sale price in Birmingham increased 52 percent (to $432,500).
Macomb municipalities* experiencing year-to-year increases in June sales included:
Shelby Township, up 16 percent
Macomb Township, up 12 percent
Sterling Heights, up five percent
Macomb municipalities that experienced sales decreases included Washington Township (down 20 percent), St. Clair Shores (down 17 percent) and Roseville (down 15 percent). Just like Birmingham in Oakland County, Washington Township experienced a sales slide while the median sale price increased, this time by 20 percent.
* Among municipalities with 15 or more sales.
Woodward cruise is just around the corner (8/16)... can't wait, maybe we'll see you out there.
As for real estate... my business has picked up quite a bit with the help from your referrals. I appreciate the opportunity to help your family and friends. Below is an excerpt from MCAR's August magazine. I thought it explains pretty accurately the current state of our real estate trends. There's also a link at the bottom of the article to the actual MCAR website. If you copy and paste this link to your tool bar http://www.mcaronline.com/default.asp?id=16 and scroll to the bottom of the page there are two PDF files you can download that show actual stats for June '08 vs '07. as well as the second quarter numbers for both Oakland and Macomb counties. It lists the info city by city. Thought you might be interested in seeing whats happening in your neighborhood.
Again thanks for your referrals, Kelly & I aprpeciate the business.
Dave
Now for the article:
For just the second time this year, sales figures for Oakland and Macomb counties in June posted negative numbers. Oakland’s overall sales were down almost three percent compared to June 2007, and Macomb’s overall sales dipped almost two-and-a-half percent. It’s still an improvement over the 2006-2007 timeframe, when sales in the two counties dropped 10 and 11 percent, respectively.
Of the Oakland municipalities that posted the greatest sales increases,* the top three – and five of the top seven – had a median sale price in the five-digit range:
Oak Park sales increased 61 percent (median sale price: $40,000)
Southfield sales increased 45 percent (median sale price: $71,000)
Pontiac sales increased 37 percent (median sale price: $19,500)
Both Novi ($266,345) and White Lake Township ($200,000) saw higher median sale prices, but then Hazel Park ($29,500) and Waterford Township ($99,950) contribute to the affordability parade.
Speaking of Novi, it was the only municipality in June to experience a decrease in listings and an increase in sales, sales volume and median sale price.
Oakland municipalities that experienced sales drops included Rochester Hills (down 37 percent), Birmingham (down 32 percent) and Orion Township (down 27 percent). Interestingly, though sales were down, the median sale price in Birmingham increased 52 percent (to $432,500).
Macomb municipalities* experiencing year-to-year increases in June sales included:
Shelby Township, up 16 percent
Macomb Township, up 12 percent
Sterling Heights, up five percent
Macomb municipalities that experienced sales decreases included Washington Township (down 20 percent), St. Clair Shores (down 17 percent) and Roseville (down 15 percent). Just like Birmingham in Oakland County, Washington Township experienced a sales slide while the median sale price increased, this time by 20 percent.
* Among municipalities with 15 or more sales.
Monday, July 7, 2008
Happy 4th of July...
It seems like the nice weather just barely got here and we're already half way to Fall.
This has been an eventful month. Lauren and Bella moved back to Troy to get settled in before Dave gets here in September. We've got them all set up in the house, and most of their household goods stored.
Gramma Kelly (me ma) and G-Diddy are having a great time getting to know Bella. She's quite a smart little girl, and although it's an adjustment having people in the house again after so many years of quiet time... we're adapting well and enjoying every minute.
David surprised us and popped in for the weekend on leave. He really misses his family, and it was tough to drop him off at the airport again, but he's got 66 days until he's home permanently... and he's counting every one of them.
Jessy & Anthony came home to join the fun for the 4th as well... it was a great time having the whole family back together again. We're a little exhausted, but there's plenty of time to catch up on our sleep.
Bellas learning to swim in the back yard, and we even squeezed in a few minutes to teach her the basics of a golf swing. Dave, Anthony, Kelly & I played a little golf this weekend. When Bella gets old enough, she's gonna make a pretty good cart mate for Gramma.
Real estate has been steady, I've been getting my share of listing appointments and have been working with several buyers over the last month. The May numbers from MCAR didn't show an increase, and in fact the average prices are continuing to show declines. Good buyer traffic is always encouraging though, and we'll just keep plugging away doing my part to clear out the local inventory.
Thanks again for all your referrals. They are appreciated.
Dave
This has been an eventful month. Lauren and Bella moved back to Troy to get settled in before Dave gets here in September. We've got them all set up in the house, and most of their household goods stored.
Gramma Kelly (me ma) and G-Diddy are having a great time getting to know Bella. She's quite a smart little girl, and although it's an adjustment having people in the house again after so many years of quiet time... we're adapting well and enjoying every minute.
David surprised us and popped in for the weekend on leave. He really misses his family, and it was tough to drop him off at the airport again, but he's got 66 days until he's home permanently... and he's counting every one of them.
Jessy & Anthony came home to join the fun for the 4th as well... it was a great time having the whole family back together again. We're a little exhausted, but there's plenty of time to catch up on our sleep.
Bellas learning to swim in the back yard, and we even squeezed in a few minutes to teach her the basics of a golf swing. Dave, Anthony, Kelly & I played a little golf this weekend. When Bella gets old enough, she's gonna make a pretty good cart mate for Gramma.
Real estate has been steady, I've been getting my share of listing appointments and have been working with several buyers over the last month. The May numbers from MCAR didn't show an increase, and in fact the average prices are continuing to show declines. Good buyer traffic is always encouraging though, and we'll just keep plugging away doing my part to clear out the local inventory.
Thanks again for all your referrals. They are appreciated.
Dave
Monday, June 2, 2008
Congrats grads...
It seems like this summer we are bombarded with graduations and weddings. I thought I'd send a quick note out to all that we know about so far.
Anthony Belmonte - Western Michigan University
Clorrissa Pennington - Athens High School
Maggie Smith - Berkley High School
Rachel Coleman - Troy High School
June Weddings -
Keith & Rochelle McDonald
Rachel Bukowski & Dan Rutenber
All this means busy weekends in June for us. Congrats to all.
Jessy is back at school for part two of her grad program, she's busier than ever and is working now with older patients that have suffered from strokes. She really enjoys this new twist in her career path. Hopefully she gets really good at her craft before I need her services :0)
Lauren and Bella move home the end of June. She and David have been busy getting all their ducks in a row preparing for the move, and it looks like all is going to go smoothly. We expect him to exit from the Army mid September and return here... stay tuned for big sigh of relief.
Kelly & I are finally full swing into biking season, golf, and softball. The fun never stops.
Real Estate is alive and well... Had a very good May, and it looks like June is stacking up fine as well. Plenty of inventory out there if you need a home, right now is the time to buy. Metropolitan Realtor Magazine publishes monthly stats for the area. i just received the mag last week, and it looks like the first quarter of '08 sales units are up about 30% in Macomb, and about 9% in Oakland County. Total sales dollars are only up 2% for Macomb though, and down 10% in Oakland... that equals buyers market, and the results are falling prices still.
Interest rates are holding steady and I'm ready willing and able to help you buy your first home, or that investment property you've been talking about.
Your friends and family are mine.
See you in July
Dave
Anthony Belmonte - Western Michigan University
Clorrissa Pennington - Athens High School
Maggie Smith - Berkley High School
Rachel Coleman - Troy High School
June Weddings -
Keith & Rochelle McDonald
Rachel Bukowski & Dan Rutenber
All this means busy weekends in June for us. Congrats to all.
Jessy is back at school for part two of her grad program, she's busier than ever and is working now with older patients that have suffered from strokes. She really enjoys this new twist in her career path. Hopefully she gets really good at her craft before I need her services :0)
Lauren and Bella move home the end of June. She and David have been busy getting all their ducks in a row preparing for the move, and it looks like all is going to go smoothly. We expect him to exit from the Army mid September and return here... stay tuned for big sigh of relief.
Kelly & I are finally full swing into biking season, golf, and softball. The fun never stops.
Real Estate is alive and well... Had a very good May, and it looks like June is stacking up fine as well. Plenty of inventory out there if you need a home, right now is the time to buy. Metropolitan Realtor Magazine publishes monthly stats for the area. i just received the mag last week, and it looks like the first quarter of '08 sales units are up about 30% in Macomb, and about 9% in Oakland County. Total sales dollars are only up 2% for Macomb though, and down 10% in Oakland... that equals buyers market, and the results are falling prices still.
Interest rates are holding steady and I'm ready willing and able to help you buy your first home, or that investment property you've been talking about.
Your friends and family are mine.
See you in July
Dave
Monday, May 5, 2008
Happy Cinco de Mayo
Hey all,
Sorry the blog is a few days late. I know you anxiously wait for it each month.
Spring real estate selling has begun. The nice weather has sparked some good activity for us this month. A recent Free Press article indicated that there was about a 19 - 20 month supply of homes on the market today. If no one else listed a home, and we sold what's on the market to the current volume of buyers, it would take 20 months to unload them all... = Buyers market. There is absolutely no time like the present to buy a home, whether it's your first one, or an investment property... there is something out there right now, that is absolutely perfect for you. And, I'm just the right Realtor to find it for you. Mortgage rates are great as well, so don't be shy, let's hurry up and buy.
This month Century 21 Town & Country introduced a new partnership with a property management firm. BEKA Management is ready, willing and able to help out with your property management needs. If you own a rental property or are considering buying one, BEKA can find tennants, negotiate leases, and coordinate lease with option deals as well. If interested in finding out more, give me a call... I'll put you in touch with the right people.
Enough of the business you say???
All is well in our house. May is a busy month... Jessys friend Anthonys birthday is May 2, My granddaughter turned 2 on May 3, Davids birthday is May 4th, and Jessys birthday is May 27... throw in Cinco de Mayo, Mothers Day, Memorial Day, and our 26th anniversary... we are busy in May.
Speaking of Cinco de Mayo... Kelly & I went to Mexico last week with Jessy & Anthony. Aunt/Cousin Kathy kept a close eye on my business for me while we were away. I told one of our cabbies I was disappointed that we were coming home before Cinco de May... we were going to miss all the hoopla. It turns out that Cinco de Mayo is essentially an American holiday. Who knew?
Kelly & Jessy went parasailing out over the Pacific, while Anthony and I bravely held their sunglasses and purses so no frisky banditos swiped them. We went to the bull fights, and I'll spare you the "gore". Suffice it to say that we didn't last the entire night night in the bull stadium... but neither did the bulls. Interesting sub culture down there to say the least.
Mostly hung out by the pool and enjoyed a much needed mental break. Learned all about the Peso... by the end of the week Anthony just told me to put my thumb over the last zero on the dinner bills so it would look like an American amount... that seemed to help :0).
Dave & Lauren are getting anxious for their return home this summer. Gramma McDonald & Marv gave Bella her first motorcycle for her birthday. Lauren tells me it's the closest thing to a motorcycle ride she's going to get until she's 25... let's see... she'd rather have me give her daughter a ride when I'm 70 and can hardly hold a bike up than allow a little 2 year old enjoyment... whatever :0) As always see below for nifty pics this month.
Well thats it for now... as always, your referrals are appreciated. Your family and friends are my family and friends...
Thanks
Dave (& Kelly)
Sorry the blog is a few days late. I know you anxiously wait for it each month.
Spring real estate selling has begun. The nice weather has sparked some good activity for us this month. A recent Free Press article indicated that there was about a 19 - 20 month supply of homes on the market today. If no one else listed a home, and we sold what's on the market to the current volume of buyers, it would take 20 months to unload them all... = Buyers market. There is absolutely no time like the present to buy a home, whether it's your first one, or an investment property... there is something out there right now, that is absolutely perfect for you. And, I'm just the right Realtor to find it for you. Mortgage rates are great as well, so don't be shy, let's hurry up and buy.
This month Century 21 Town & Country introduced a new partnership with a property management firm. BEKA Management is ready, willing and able to help out with your property management needs. If you own a rental property or are considering buying one, BEKA can find tennants, negotiate leases, and coordinate lease with option deals as well. If interested in finding out more, give me a call... I'll put you in touch with the right people.
Enough of the business you say???
All is well in our house. May is a busy month... Jessys friend Anthonys birthday is May 2, My granddaughter turned 2 on May 3, Davids birthday is May 4th, and Jessys birthday is May 27... throw in Cinco de Mayo, Mothers Day, Memorial Day, and our 26th anniversary... we are busy in May.
Speaking of Cinco de Mayo... Kelly & I went to Mexico last week with Jessy & Anthony. Aunt/Cousin Kathy kept a close eye on my business for me while we were away. I told one of our cabbies I was disappointed that we were coming home before Cinco de May... we were going to miss all the hoopla. It turns out that Cinco de Mayo is essentially an American holiday. Who knew?
Kelly & Jessy went parasailing out over the Pacific, while Anthony and I bravely held their sunglasses and purses so no frisky banditos swiped them. We went to the bull fights, and I'll spare you the "gore". Suffice it to say that we didn't last the entire night night in the bull stadium... but neither did the bulls. Interesting sub culture down there to say the least.
Mostly hung out by the pool and enjoyed a much needed mental break. Learned all about the Peso... by the end of the week Anthony just told me to put my thumb over the last zero on the dinner bills so it would look like an American amount... that seemed to help :0).
Dave & Lauren are getting anxious for their return home this summer. Gramma McDonald & Marv gave Bella her first motorcycle for her birthday. Lauren tells me it's the closest thing to a motorcycle ride she's going to get until she's 25... let's see... she'd rather have me give her daughter a ride when I'm 70 and can hardly hold a bike up than allow a little 2 year old enjoyment... whatever :0) As always see below for nifty pics this month.
Well thats it for now... as always, your referrals are appreciated. Your family and friends are my family and friends...
Thanks
Dave (& Kelly)
Tuesday, April 1, 2008
April showers bring May flowers... I'll refrain from the lame Pilgrim joke this year :0)
April Marks three significant things in the Henderson household. April 15th is Tax day... hopefully you're getting a refund. April 1 is my 5th year anniversary at Century 21, and April 1 also is my favorite holiday of the year, April Fools day.
I'm not sure why I like it so much, but my poor daughter Jessy usually gets the brunt of my "joy" each year. I've brought empty pizza boxes home from work and laughed as I held them up in the car window to bait them into a mad dash home for "dinner" (of course I paid for that one), I've dyed the breakfast milk green, I had Jessy call Mr. Lyon at school (naturally it was the Detroit Zoos phone number)...
This year, I needed an accomplice. I gave Anthony (Jessys boyfriend) the spare key to her car about a month ago. Late last night he stole it from her space, and relocated it to his apartment complex. Naturally this morning after a little panic, she located her car and was 20 minutes late for an appointment (because of her sophomoric fathers prank). Fortunately her professor understood and got a good laugh out of it, and her only punishment is to make up the assignment I made her miss. I suppose next year I need to find more constructive ways to amuse myself that don't disrupt her life... but we'll all laugh about it some day :0)
Dave & Lauren are anxiously waiting September when they get out of the Army and move back home (so are the grandma's & G-diddy). Kelly's company just finalized their fiscal year end, so our life should become a little less frantic.
Real estate is plugging along. I have some new listings, a few buyers I'm working with, and we're all anxious for spring selling season... if the weather actually starts cooperating.
Here's a few interesting stats I picked up from a presentation I did for a business referral group for the Troy Chamber of Commerce this month.
I ran numbers comparing 2006 to '07 & '08 real estate sales in Royal Oak, Troy & Rochester... if you are interested in a similar comparison for your city, give me a call, I'd be happy to do it for you. It helps to see things in print.
Number of homes currently for sale (inventory)
Troy = 597
Rochester = 751
Royal Oak = 708
Number of months supply of current inventory based on 2008 YTD sales
Troy = 12 months
Rochester = 12 months
Royal Oak = 11 months
Average sold price over three years
2006 2007 2008
Troy = $ 235,751 $ 200,098 <$ 35K (15%)> $ 190,390 <23% vs. Jan. 07>
Rochester = $ 253,419 $ 225,867 <$ 27K (11%)> $ 163,726 < 15 % vs. Jan. 07>
Royal Oak = $ 164,729 $ 139,800 <$ 24K (15%)> $ 114,359 < 11% vs. Jan.07>
($ 2,000 - $ 3,000 per month drop in prices = critically important for sellers
to pay attention to pricing for any chance of sale)
Rentals almost doubled from ’06 to ’07 in most markets
Troy number of homes for rent increased in ’07 by a total of 13% of all listings
Rochester number of homes for rent increased in ’07 by a total of 10% of all listings
Royal Oak number of homes for rent increased in ’07 by a total of 14% of all listings
These numbers are important to pay attention to when marketing a home. It almost doesn't even matter these days how well equipped a house is to a buyer. They just want a great price... and they'll find it. Banks are tightening up as well, the last word I received from a recent appraisor was that banks are now only allowing them to go back three months for sold comparables. Even if a home sells, there are no gaurantees the bank will appraise it for the buying price, which means the buyer either makes up the difference in cash, or the seller drops the price. Anything short of either situation results in a lost sale.
Words to live by when selling a house... location location location... price price price.
As always... your friends and family are my friends and family. I appreciate all of your referrals. See you next month.
Dave
I'm not sure why I like it so much, but my poor daughter Jessy usually gets the brunt of my "joy" each year. I've brought empty pizza boxes home from work and laughed as I held them up in the car window to bait them into a mad dash home for "dinner" (of course I paid for that one), I've dyed the breakfast milk green, I had Jessy call Mr. Lyon at school (naturally it was the Detroit Zoos phone number)...
This year, I needed an accomplice. I gave Anthony (Jessys boyfriend) the spare key to her car about a month ago. Late last night he stole it from her space, and relocated it to his apartment complex. Naturally this morning after a little panic, she located her car and was 20 minutes late for an appointment (because of her sophomoric fathers prank). Fortunately her professor understood and got a good laugh out of it, and her only punishment is to make up the assignment I made her miss. I suppose next year I need to find more constructive ways to amuse myself that don't disrupt her life... but we'll all laugh about it some day :0)
Dave & Lauren are anxiously waiting September when they get out of the Army and move back home (so are the grandma's & G-diddy). Kelly's company just finalized their fiscal year end, so our life should become a little less frantic.
Real estate is plugging along. I have some new listings, a few buyers I'm working with, and we're all anxious for spring selling season... if the weather actually starts cooperating.
Here's a few interesting stats I picked up from a presentation I did for a business referral group for the Troy Chamber of Commerce this month.
I ran numbers comparing 2006 to '07 & '08 real estate sales in Royal Oak, Troy & Rochester... if you are interested in a similar comparison for your city, give me a call, I'd be happy to do it for you. It helps to see things in print.
Number of homes currently for sale (inventory)
Troy = 597
Rochester = 751
Royal Oak = 708
Number of months supply of current inventory based on 2008 YTD sales
Troy = 12 months
Rochester = 12 months
Royal Oak = 11 months
Average sold price over three years
2006 2007 2008
Troy = $ 235,751 $ 200,098 <$ 35K (15%)> $ 190,390 <23% vs. Jan. 07>
Rochester = $ 253,419 $ 225,867 <$ 27K (11%)> $ 163,726 < 15 % vs. Jan. 07>
Royal Oak = $ 164,729 $ 139,800 <$ 24K (15%)> $ 114,359 < 11% vs. Jan.07>
($ 2,000 - $ 3,000 per month drop in prices = critically important for sellers
to pay attention to pricing for any chance of sale)
Rentals almost doubled from ’06 to ’07 in most markets
Troy number of homes for rent increased in ’07 by a total of 13% of all listings
Rochester number of homes for rent increased in ’07 by a total of 10% of all listings
Royal Oak number of homes for rent increased in ’07 by a total of 14% of all listings
These numbers are important to pay attention to when marketing a home. It almost doesn't even matter these days how well equipped a house is to a buyer. They just want a great price... and they'll find it. Banks are tightening up as well, the last word I received from a recent appraisor was that banks are now only allowing them to go back three months for sold comparables. Even if a home sells, there are no gaurantees the bank will appraise it for the buying price, which means the buyer either makes up the difference in cash, or the seller drops the price. Anything short of either situation results in a lost sale.
Words to live by when selling a house... location location location... price price price.
As always... your friends and family are my friends and family. I appreciate all of your referrals. See you next month.
Dave
Wednesday, March 19, 2008
Mona Vie is the latest craze... and really good for you.
These days we're all striving to be the best we can be. Whether it's family, career or health, there's a lot competing for our energy.
I stumbled on an interesting product that has the potential to assist my current diet and exercise program and potentially add a couple bucks to the bank roll.
Mona Vie is a relatively new fruit juice to the market place. It is a blend of several fruit juices with the main draw being the Acai berry. It has all the phytonutrients and antioxidants your body needs to stay healthy. The product I purchase has glucosamine to aid in joint strength. The product is packaged in wine like bottles, and all you need is a shot of Mona Vie in the morning and one in the evening to see the benefits. It also tastes really good.
I mix it in my protein shakes before a workout. It's a real meal replacement that way as well for anyone trying to watch their intake a bit. There's a rumor that a shot with vodka makes a nice Mona-tini, and hangovers may not be as bad... we'll have to test that I suppose.
The other benefit (and it's a biggie) is that the product is only available through Mona Vie distributors... Michigan is a relatively new territory for the product, and although I have been a bit of a skeptic about multi level marketing programs in the past... this one actually has a product that is beneficial to health, and one I actually personally use. A distributorship runs $ 39.00. A very small price to pay to get in on the ground floor of a potentially huge product boom.
Ground floor and tons of activity can equate to a nice paycheck if you work the program.
If you'd like more information about a distributorship or product, give me a call anytime.
Dave
I stumbled on an interesting product that has the potential to assist my current diet and exercise program and potentially add a couple bucks to the bank roll.
Mona Vie is a relatively new fruit juice to the market place. It is a blend of several fruit juices with the main draw being the Acai berry. It has all the phytonutrients and antioxidants your body needs to stay healthy. The product I purchase has glucosamine to aid in joint strength. The product is packaged in wine like bottles, and all you need is a shot of Mona Vie in the morning and one in the evening to see the benefits. It also tastes really good.
I mix it in my protein shakes before a workout. It's a real meal replacement that way as well for anyone trying to watch their intake a bit. There's a rumor that a shot with vodka makes a nice Mona-tini, and hangovers may not be as bad... we'll have to test that I suppose.
The other benefit (and it's a biggie) is that the product is only available through Mona Vie distributors... Michigan is a relatively new territory for the product, and although I have been a bit of a skeptic about multi level marketing programs in the past... this one actually has a product that is beneficial to health, and one I actually personally use. A distributorship runs $ 39.00. A very small price to pay to get in on the ground floor of a potentially huge product boom.
Ground floor and tons of activity can equate to a nice paycheck if you work the program.
If you'd like more information about a distributorship or product, give me a call anytime.
Dave
Monday, March 3, 2008
In like a lion out like a lamb...
March is the best... we typically start to see light at the end of the snowy tunnel by the end of the month. Then there's St. Pattys day, where everyones Irish (even my kids :0)).
We just returned from our "Christmas visit" to the Army base. We were able to leave the kids with a couple late christmas gifts, and a nice strain of the flu I obtained en route.
The morning we left, the temps were in the teens, and we enjoyed weather mostly in the 70's out there... temper that with the fact that they live in the middle of the mojave desert, where the most entertainment you get are the howling coyotes at night, and the occasional tank round shaking the window blinds... oh yeah and our almost 2 year old granddaughter that is developing quite a mind of her own. I thought I was having flashbacks of raising Jessy all over again... they're almost twin personalities seperated by 21 years. Don't miss a couple of the pics below, Bella is really growing fast.
Jessy is really enjoying her grad program, and her boyfriend Anthony will be graduating this spring from Western. We are planning a graduation trip for May for them... stay tuned for details.
Kelly & I squeeked in our February motorcycle ride logging in 12 miles on 2/21. It was really cold, and I was chipping ice off the driveway for three days prior, just so we could get out of the yard. 31 months straight and counting.
Make sure you read the post below... it gives a little insight about how to treat the current market. It is a great time to buy if you're a first timer, or if you're buying up... (formula for the buy up below).
As always, thanks for keeping Kelly & I in mind when you run across anyone with a real estate need. We appreciate your referrals... also click the link above (My listings), to see the great homes I have for sale.
See you next month
Dave
We just returned from our "Christmas visit" to the Army base. We were able to leave the kids with a couple late christmas gifts, and a nice strain of the flu I obtained en route.
The morning we left, the temps were in the teens, and we enjoyed weather mostly in the 70's out there... temper that with the fact that they live in the middle of the mojave desert, where the most entertainment you get are the howling coyotes at night, and the occasional tank round shaking the window blinds... oh yeah and our almost 2 year old granddaughter that is developing quite a mind of her own. I thought I was having flashbacks of raising Jessy all over again... they're almost twin personalities seperated by 21 years. Don't miss a couple of the pics below, Bella is really growing fast.
Jessy is really enjoying her grad program, and her boyfriend Anthony will be graduating this spring from Western. We are planning a graduation trip for May for them... stay tuned for details.
Kelly & I squeeked in our February motorcycle ride logging in 12 miles on 2/21. It was really cold, and I was chipping ice off the driveway for three days prior, just so we could get out of the yard. 31 months straight and counting.
Make sure you read the post below... it gives a little insight about how to treat the current market. It is a great time to buy if you're a first timer, or if you're buying up... (formula for the buy up below).
As always, thanks for keeping Kelly & I in mind when you run across anyone with a real estate need. We appreciate your referrals... also click the link above (My listings), to see the great homes I have for sale.
See you next month
Dave
Friday, February 22, 2008
No better time to buy a home than right now.
I don't have to really tell anyone that prices are the best we've had in a decades around here. With the Fed continually slashing the prime rate, mortgage rates are holding steadily low as well.
If you are a first time buyer (or know someone that should be)... call me today, There are literally thousands of well priced starter homes... we'll find you one.
If you are contemplating an upward move... call me today. The market is perfect for you. Yes you'll probably suffer a little on the selling price of your current home, but keep in mind that on the home you purchase (assuming you're upgrading), you'll get to take advantage of the seller on the higher end home...
Here's how it looks on paper. If your home used to be worth $ 200,000, but now you bite the bullet and are lucky to get $ 160,000 for it (20% decrease in estimated value), you lose $ 40,000.
If you buy a home that used to be $ 400,000, that is now worth $ 320,000 (the same 20% decrease in estimated value)... you are able to purchase $ 80,000 more home for your money.
So bite the bullet on the perceived $ 40,000 loss, to gain $ 80,000... you are $ 40,000 ahead of the game.
Keep in mind that if you wait for prices to come back up... not only will your home increase in value... but so will your dream home.
Now is the time... call me for more details, and let's get horse trading :0)
If you are a first time buyer (or know someone that should be)... call me today, There are literally thousands of well priced starter homes... we'll find you one.
If you are contemplating an upward move... call me today. The market is perfect for you. Yes you'll probably suffer a little on the selling price of your current home, but keep in mind that on the home you purchase (assuming you're upgrading), you'll get to take advantage of the seller on the higher end home...
Here's how it looks on paper. If your home used to be worth $ 200,000, but now you bite the bullet and are lucky to get $ 160,000 for it (20% decrease in estimated value), you lose $ 40,000.
If you buy a home that used to be $ 400,000, that is now worth $ 320,000 (the same 20% decrease in estimated value)... you are able to purchase $ 80,000 more home for your money.
So bite the bullet on the perceived $ 40,000 loss, to gain $ 80,000... you are $ 40,000 ahead of the game.
Keep in mind that if you wait for prices to come back up... not only will your home increase in value... but so will your dream home.
Now is the time... call me for more details, and let's get horse trading :0)
Good news for a change to start the new year...
A recent article in the MCAR magazine showed increases over 2007 for January... Good news for a change. Also note the most affordable communities in the country info ... all posted in the article below.
January residential sales in Macomb County showed an 8.5 percent increase in sales over the same month in 2007, according to recent figures. Leading the charge among municipalities with 15 or more sales: Roseville, with a year-to-year boost of 42 percent. Also showing year-to-year increases: Macomb Township (27 percent), Eastpointe (23 percent) and Warren (16 percent). Of those, only Macomb Township experienced an increase in sales volume (a modest one, at just over 1.5 percent). Shelby Township saw a 19 percent decrease in sales year-to-year, and Clinton Township’s sales dipped 7 percent.
In Oakland County, Troy sales posted a 22 percent increase year-to-year among municipalities with 15 or more sales. Troy was recently listed as one of the most affordable U.S. housing markets with a population of 500,000 or more in a report from the National Association of Home Builders; the city’s median sales price for January was $217,500. Orion Township’s sales increased 17 percent in the same timeframe, with a 4.5 percent increase in sales volume. Listings for the county, meanwhile, rose a modest 0.5 percent.
About that affordable housing markets list: not only did Troy appear in the 500,000 and up category, so did Detroit and Grand Rapids. In a separate category of markets with fewer than 500,000, even more Michigan communities appeared: Saginaw, Monroe, Bay City, Lansing, Flint, Battle Creek and Kalamazoo. In terms of affordability, Michigan is the best-represented state on the list. The least affordable state? California.
January residential sales in Macomb County showed an 8.5 percent increase in sales over the same month in 2007, according to recent figures. Leading the charge among municipalities with 15 or more sales: Roseville, with a year-to-year boost of 42 percent. Also showing year-to-year increases: Macomb Township (27 percent), Eastpointe (23 percent) and Warren (16 percent). Of those, only Macomb Township experienced an increase in sales volume (a modest one, at just over 1.5 percent). Shelby Township saw a 19 percent decrease in sales year-to-year, and Clinton Township’s sales dipped 7 percent.
In Oakland County, Troy sales posted a 22 percent increase year-to-year among municipalities with 15 or more sales. Troy was recently listed as one of the most affordable U.S. housing markets with a population of 500,000 or more in a report from the National Association of Home Builders; the city’s median sales price for January was $217,500. Orion Township’s sales increased 17 percent in the same timeframe, with a 4.5 percent increase in sales volume. Listings for the county, meanwhile, rose a modest 0.5 percent.
About that affordable housing markets list: not only did Troy appear in the 500,000 and up category, so did Detroit and Grand Rapids. In a separate category of markets with fewer than 500,000, even more Michigan communities appeared: Saginaw, Monroe, Bay City, Lansing, Flint, Battle Creek and Kalamazoo. In terms of affordability, Michigan is the best-represented state on the list. The least affordable state? California.
Friday, February 1, 2008
Thankfully January zipped by this year...
Well, it's been a quiet month of '08 so far. If you're counting down... just 90 days until glimmers of summer hit. Every year I question why we stay in this cold state.
Kelly & I went to the black tie event at the auto show this month. Crossed paths with Jennifer Granholm and Kwame (before the text scandal hit :0)). Shook hands with Thomas the Hit Man Hearns, and saw a couple nice cars. Tough to get all excited about all these flex fuel cars though. They look exactly like the regular ones, except they have a flexfuel sticker on the side.
Jessy is back to school and is now swamped... she has a full work load with classes and clinics... and a bunch of patients.
Dave & Lauren are well... Dave has been in the field a bit this month, and has a pretty good case of short timers disease. They are getting pretty excited about their move back home this summer. They're a little apprehensive about our job climate, but we told them it'll all be fine... someone out there has got to be able to hook a couple patriots up with jobs when they get home.
We are planning to head west to visit the end of February. Dave tells me I better get my right arm in shape... He plans on beating me at golf on the WII.
Happy Ground Hog day... hopefully he sees his/her shadow tomorrow... or not... I can never remember which is the good scenario. All I know is my sister Heather was born on Groundhogs day, and there's usually at least a couple months of winter left after we eat cake :0).
As for real estate...
2007 ended on a high note for me personally as usual. It seems like the last quarter of the year brings out a lot of activity. Pretty slow for January so far, but I've got a few very nice listings, and have been getting a good amount of phone traffic the last couple weeks. It's just a matter of time before the levy breaks for '08.
Please click the links above and check out my listings. If you know anyone interested in any of these properties... make sure you forward the link (and my phone number) to them.
I have one piece of vacant Troy property listed at a phenomenal price
I have brick ranch's listed in Royal Oak, Clawson, Farmington Hills, and Warren
I have bungalows in Utica
And last but not least... investment properties listed in Auburn Hills (three plex)
Check these out... and as always, thanks for your referrals. Your family and friends are my family and friends.
Dave
Kelly & I went to the black tie event at the auto show this month. Crossed paths with Jennifer Granholm and Kwame (before the text scandal hit :0)). Shook hands with Thomas the Hit Man Hearns, and saw a couple nice cars. Tough to get all excited about all these flex fuel cars though. They look exactly like the regular ones, except they have a flexfuel sticker on the side.
Jessy is back to school and is now swamped... she has a full work load with classes and clinics... and a bunch of patients.
Dave & Lauren are well... Dave has been in the field a bit this month, and has a pretty good case of short timers disease. They are getting pretty excited about their move back home this summer. They're a little apprehensive about our job climate, but we told them it'll all be fine... someone out there has got to be able to hook a couple patriots up with jobs when they get home.
We are planning to head west to visit the end of February. Dave tells me I better get my right arm in shape... He plans on beating me at golf on the WII.
Happy Ground Hog day... hopefully he sees his/her shadow tomorrow... or not... I can never remember which is the good scenario. All I know is my sister Heather was born on Groundhogs day, and there's usually at least a couple months of winter left after we eat cake :0).
As for real estate...
2007 ended on a high note for me personally as usual. It seems like the last quarter of the year brings out a lot of activity. Pretty slow for January so far, but I've got a few very nice listings, and have been getting a good amount of phone traffic the last couple weeks. It's just a matter of time before the levy breaks for '08.
Please click the links above and check out my listings. If you know anyone interested in any of these properties... make sure you forward the link (and my phone number) to them.
I have one piece of vacant Troy property listed at a phenomenal price
I have brick ranch's listed in Royal Oak, Clawson, Farmington Hills, and Warren
I have bungalows in Utica
And last but not least... investment properties listed in Auburn Hills (three plex)
Check these out... and as always, thanks for your referrals. Your family and friends are my family and friends.
Dave
Thursday, January 3, 2008
Top 10 reasons it's a great time to buy Real Estate
Article by Paul Pastore, Broker Agent News
1. selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
2. No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.
4. Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
5. Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.
6. There are plenty of specs. In the not too distant past buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.
7. Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
8. Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.
9. Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Maricopa and Queen Creek in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines, and relatives.
10. Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!
1. selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
2. No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.
4. Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
5. Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.
6. There are plenty of specs. In the not too distant past buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.
7. Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
8. Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.
9. Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Maricopa and Queen Creek in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines, and relatives.
10. Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!
Wednesday, January 2, 2008
Happy 2008
What a fast 2007 we had. The older I get the quicker they go by. Hopefully 2008 will be slower, healthier, and more prosperous for all.
The Holidays were great. Dave & Lauren couldn't make it back from California, but sent us lots of great Christmas pictures. Jessy & Anthony came home and stayed for a while... they left for Chicago for the New Year just in time to miss the Toga party.
Louie is the smartest granddog ever... he learned to ring the Christmas bells at the door to go out, and Gramps started teaching him to sit stay and come over the holidays.
Jessy helped me find Kellys new Christmas decor for her car... it took us about three hours to locate them, but it was worth it.
Just in case you were wondering... I'll post another you tube video next month. I don't want to spoil anyone with too much video.
Real estate ended this year with a bang as usual... For whatever reason, I end up working with lots of buyers from Thanksgiving through Christmas... odd because that time is historically not as strong as other times in real estate in general. I'm getting the reputation as the Holiday Home Seller.
NAR has declared 2008 as a leveling out year... hopefully they are right, and we can start to pull ourselves out of this two plus year slump.
As always, thanks so much for your referrals this past year. I enjoy each and every transaction you send my way. You never have to worry about them being handled with prompt professional service.
Have a great 2008
Dave & Kelly Henderson
The Holidays were great. Dave & Lauren couldn't make it back from California, but sent us lots of great Christmas pictures. Jessy & Anthony came home and stayed for a while... they left for Chicago for the New Year just in time to miss the Toga party.
Louie is the smartest granddog ever... he learned to ring the Christmas bells at the door to go out, and Gramps started teaching him to sit stay and come over the holidays.
Jessy helped me find Kellys new Christmas decor for her car... it took us about three hours to locate them, but it was worth it.
Just in case you were wondering... I'll post another you tube video next month. I don't want to spoil anyone with too much video.
Real estate ended this year with a bang as usual... For whatever reason, I end up working with lots of buyers from Thanksgiving through Christmas... odd because that time is historically not as strong as other times in real estate in general. I'm getting the reputation as the Holiday Home Seller.
NAR has declared 2008 as a leveling out year... hopefully they are right, and we can start to pull ourselves out of this two plus year slump.
As always, thanks so much for your referrals this past year. I enjoy each and every transaction you send my way. You never have to worry about them being handled with prompt professional service.
Have a great 2008
Dave & Kelly Henderson
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