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)

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