Donald Horne Realtor Oxford / Lapeer Homes

Lapeer foreclosures for sale and real estate in Lapeer Michigan
City of Lapeer, Lapeer Twp, Lapeer
Lapeer County, MI 48446
03/07/2012

* The median single family home price as of 03/04/12 is $129,174
* With a market action index at 19.3, Lapeer is still in a buyers market
* The average property has been on the market for about 221 days
* The median price per square foot for homes is about $78
* There are about 146 properties on the market as of 03/04/12

Sold homes this week in and around Lapeer:

208 Fox St, $29,000 = 46 days on market (dom) = cash sale
113 E. Newark Rd, $30,500 = 68 dom = 3 beds & 1 bath
127 Pine St, $32,000 = 25 dom = 3 beds & 1.1 baths = mortgage sale
1072 Morris Rd, $70,000 = 19 dom = 4 beds & 1 bath
483 Lakeshore Dr, $75,000 = 2 dom = 3 beds & 2 baths = cash sale
411 Myers Rd, $165,000 = 297 dom = 3 beds & 3.1 baths

Homes on market this week in and around Lapeer:

617 Rolling Hills Ln, $119,900 = 1444 sq.ft = 3 beds & 2.1 baths
416 Turrill Ave, $22,900 = 1008 sq.ft = 3 beds & 1 bath
644 N. Main St, $24,000 = 1306 sq.ft = 3 beds & 2 baths
55 Higley St, $24,900 = 900 sq.ft = 2 beds & 1 bath
1128 Gwen Dr, $74,900 = 1614 sq.ft = 3 beds & 2.1 baths
906 N. Calhoun St, $184,900 = 2244 sq.ft = 3 beds & 1.1 baths
1905 Peppermill Rd, $270,000 = 2400 sq.ft = 3 beds & 3.1 baths
1703 Lapeer St, $279,900 = 1100 sq.ft = 3 beds & 3 baths
2841 Wilder Rd, $295,000 = 2200 sq.ft = 3 beds & 1 bath
2200 Imlay City Rd, $315,000 = 2200 sq.ft = 3 beds & 3.1 baths
1268 Hidden View Dr, $495,000 = 4000 sq.ft = 4 beds & 2.1 baths

For more detailed information on selling your Lapeer MI home, foreclosures and short sales in Lapeer, real estate property values or Lapeer Community Schools, contact us direct at 1-810-338-0628 or dhorne@cbshooltz.net TODAY!

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Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty
1-810-338-0628 or 1-248-969-8065

Sellers willing to do more to get home sold...Found this story in RealtorMag dated 02/29/2012, talks about how sellers are willing to price their homes to move...

Real estate pros are reporting that sellers are more willing this year to price their homes competitively as well as change the appearance of their home in order to lure buyers, according to a survey of 600 agents conducted by Coldwell Banker Real Estate.

Agents reported that, compared to last year, sellers are more willing to remove clutter; make cosmetic updates, such as minor repairs; "depersonalize" the home; and stage the home to better their chances of getting it sold, the survey finds.

"Depersonalizing and making it easy for a buyer to imagine him or herself living in the property is crucial, especially when there are many homes on the market," says Jessica Edwards, consumer specialist for Coldwell Banker Real Estate.

Meanwhile, the survey also found that agents say buyers are most putting a value on new or updated kitchens, bathrooms, and open floor plans when touring homes.

Source: "Survey Reveals Sellers More Willing to Price Competitively," RISMedia (Feb. 27, 2012)
references: realtor magazine, daily real estate news, NAR

Simple tips to increase your Lapeer home's curb appeal.

Have you been wanting to change the look of your house but aren't sure what you can do to increase your curb appeal? Handyman Connection, one of the largest networks of home repair and remodeling contractors in North America, has released a few home improvement ideas to help you enhance the street view of your home.

The front door is the gateway to your Lapeer home and can often be an easy and inexpensive way to add a different dimension to your home's curb appeal.

Painting or re-painting your house is a great way to drastically alter your home's curb appeal and it may be the perfect option if you want to give your house a brand new look.

Fencing around your Lapeer yard is a great way to increase your home's appeal. A small white picket fence is a simple way to give your house a nice, cozy look.

Adding a deck or a wing to your deck could be perfect if you like to spend time outside and also want to increase your home's curb appeal. Adding a wing to your deck is easier than enlarging it and gives you 2 areas to gather instead of 1. Painting or staining your deck is crucial to adding the curb appeal you seek, so dedicate a weekend or 2 every other year where you or a professional handyman can make your deck look good as new.
references: handyman connection, efrogpond

Cash buyers are mopping up inventory.

This article from RealtorMag dated 02/29/2012, talks about the growing number of cash buyers in this market, good read...

Thirty-four percent of home sales in January were paid for with cash, according to Campbell Surveys and Inside Mortgage Finance. And housing experts say the growing number of cash buyers on the market -- who are often investors -- can be a good thing in removing some of the overhang with foreclosures.

"I think a lot of people are throwing in the towel and deciding they would rather invest in real estate than have their money in a deposit account in the bank," Tom Popik, research director at Campbell Surveys, said about the increase in cash buyers in the market.

The advantage of coming with cash to a real estate transaction is that cash buyers don't have to worry about qualifying for the more stringent underwriting standards by lenders that have kept so many other buyers out of the market recently. They also have less concern about appraisals derailing a deal, another common problem plaguing many real estate markets.

That means it can be a challenge for financed buyers going up against cash buyers on the same house. A lender "might turn down a higher purchase price made by someone they feel has a questionable ability to get the mortgage," says Bob Davis, executive vice president of the American Bankers Association.

Because of that, some housing experts have criticized the upswing in cash investors as pushing home prices down even more, since banks may be more willing to take an offer for a foreclosure for a little less from a cash buyer if it means they can get it off their books quicker.

But Richard Green, a professor at the University of Southern California's Lusk Center for Real Estate, says it's probably worth any potential trade-off.

"These cash buyers are mopping up inventory, and that's probably the most important thing that can happen right now," Green told Realty Times. "You're not going to see a recovery in prices until inventories return to more normal levels."

Source: "Cash Buyers Squeezing Out Traditional Home Seekers," Realty Times (Feb. 27, 2012)
references: realtor magazine, daily real estate news, NAR

Rents keep rising as demand soars.

This article was in RealtorMag on 02/28/2012, discussing how rents nationwide continue to increase...

Rents nationwide continue to be on the rise, increasing 2.4 percent in January compared to a year earlier, according to new data released by the Labor Department. Demand for rentals remains strong. The apartment vacancy rate fell to 5.2 percent, marking its lowest level in more than a decade.

Rents have most been on the rise in tech-centered cities like San Francisco; Austin, Texas; and Boston. Rents also are rising in New York City; Washington, D.C.; Chicago; and Seattle.

Construction of new apartments has been slow to catch up to the increase in the demand. As such, the limited supply has caused prices to move up. In San Francisco alone, rents have risen nearly 5 percent in the last year, according to Reis Inc.

By the fourth quarter of 2011, about 2 million more households were renting compared to 2004, Kenneth Rosen, a professor of real estate at the Haas School of Business at University of California, Berkeley, told The New York Times.

A recent survey of more than 3,000 renters by Apartments.com found that 33.6 percent of those who were looking for an apartment this year say they are previous home owners (up from 20.5 percent in 2011).

“The fact that more renters are entering the market continues to create a series of challenges for the potential renter, including fewer apartments to choose from, which can drive higher rent rates,” says Chris Brown, vice president of product management, Apartments.com.

Source: “Rents Keep Rising, Even as Housing Prices Fall,” The New York Times (Feb. 25, 2012) and “More Previous Home Owners Are Looking to Rent in 2012,” RISMedia (Feb. 26, 2012)
references: realtor magazine, daily real estate news, NAR