Coldwell Banker Hubbell Briarwood released the 3rd Quarter 2009 Market Report today that showed
some positive statistics and comparisons that will aid sellers in the greater Lansing real estate market with sound pricing decisions when it comes to marketing their home. This report also breaks down areas by school district to assist buyers and sellers. Here are some highlights of the 14-page report.
Units Sold increased 8% compared to 2009 3rd Quarter
• This has been the 6th consecutive quarter that Units Sold have increased since April 1, 2008
Sold Values
• The 4.16% decrease has been the slowest paced decrease since October 1 2005 when values decreased 2.9%
• Values began to fall in July 2005 with the market decrease was first reported in October 2005 at a minus 4.5% and the highest decrease reported in October 2006 at a minus 23.47%
Available Listings
• Listings have continuously decreased in availability since April 2008
Market Surplus
• The Market Surplus of 7 months has not been this low since October 2005 when there was a 6 month surplus. The highest peak since October 2005 was a 16 months surplus in April 2008
If the market shift continues, particularly with the increase of units sold and the decrease of available listings the Buyer’s Market may soon be over. You can get the complete report at here by selecting the 3rd Quarter Market Report Navigation Button on MikeBowler.com
More Good News for Michigan
The Michigan Association of Realtors reported today: In Michigan, the home buyer tax credit has brought in an additional 20,000 buyers into the market and 75,400 first-time buyers will be able to take advantage of the tax credit. Detailed, state-by-state information is not available on first-time buyers, but using national information from the 2009 Home Buyer and Seller Survey available in preliminary format, we can estimate the impact in a state.
According to NAR, Michigan existing home sales in the second half of 2008 were 151,200 at a seasonally adjusted annual rate. In the first half of 2009 they were 163,200. If sales continue this trajectory, as they are expected to do nationally, they could reach 173,600 for the year in Michigan in 2009. If the share of first time home buyers in the market is similar to the national share, first time buyers will have purchased 60,480 homes at a seasonally adjusted annual rate in the second half of 2008 and will purchase 76,704 for the year 2009. Because the tax credit is only in effect for 11 months out of the year, the estimated impact of the credit is an increase of 20,000 first-time buyers. 75,400 first-time buyers in the state of Michigan are expected to be able to take advantage of the credit.
Real estate transactions are complex, involve large assets and demand competent representation. Marketing properties, home selection and financing are just a few of the skills today's consumer looks for when they select a real estate professional. I am prepared to offer my clients the knowledge and expertise to counsel them in relocating, buying, investing or selling the family home.
“Expect the Best” Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
Search Listings
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:
1. Check your credit.
Before you apply for a home loan, regardless of your credit, it’s a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it’s easier to address them before you have found a house, than after you have
found a house and are trying to close your loan.
If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.
2. Get approved before you buy.
An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.
Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.
While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a pre-qualification has little value when purchasing a home.
3. Find a great buyer’s agent.
Traditionally real estate agents represent the sellers in a transaction. When you are not working with a buyer’s agent, they are less likely to negotiate the best price or contingencies for you.
A buyer’s agent’s job and fiduciary responsibility (meaning legal duty) is to you, the buyer. Before working with an agent, establish if they are a buyer’s agent or a seller’s agent. After spending a lot of time with a Realtor, it’s natural to feel like you’re a team. But if they are not negotiating for you, then they are not on your team.
For the remaining 3 steps, simply download the full report and they will be emailed to you !
“Expect the Best” Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
Search Listings
There seems to be a surge of cons invading the Greater Lansing area lately with properties that are listed for sale by Realtors on Craigslist, being snatched up and re-advertised for rent by people overseas.
The Rent Scammers are attempting to get potential renters to make a deposit prior to even getting keys to see the property. Believe it or not, some people are falling for this con game. I recently had two of my listings that were being advertised, copied and offered for rent, including the pictures. Those who were suspicious of the London accent, poor email vocabulary, and idea of sending money were questionable enough to contact
me directly after checking Google. The scumbag con artist is even using my name and setting up a fake email account to communicate with the potential victims.
Although Craigslist was very prompt in pulling the ads after we have reported, I must have received a dozen calls from people who were questioning the rent of $800.00, being so cheap for a home that was priced at $214,000.00. Craigslist also put warnings out to the public that have been displayed at the top of rental ads. What more could they do, you may ask? Craigslist is one of the most popular portals generating 20 billion page views per month by over 50 million people just in the USA. That's why Realtors like myself advertise and syndicate our listings to them.
The Craigslist Forum has also issued warnings for sometime on this old scam that has been taking place around the country for the past 2-3 years. Below you will find a list to think back on, if you plan to use Craigslist in the future, which I would highly recommend you do use, however, with the some caution as anything else on the Internet.
You can sidestep would-be scammers by following these common-sense rules:
DEAL LOCALLY WITH FOLKS YOU CAN MEET IN PERSON - follow this one simple rule and you will avoid 99% of the scam attempts on craigslist.
NEVER WIRE FUNDS VIA WESTERN UNION, MONEYGRAM or any other wire service - anyone who asks you to do so is a scammer.
FAKE CASHIER CHECKS & MONEY ORDERS ARE COMMON, and BANKS WILL CASH THEM AND THEN HOLD YOU RESPONSIBLE when the fake is discovered weeks later.
CRAIGSLIST IS NOT INVOLVED IN ANY TRANSACTION, and does not handle payments, guarantee transactions; provide escrow services, or offer "buyer protection" or "seller certification"
NEVER GIVE OUT FINANCIAL INFORMATION (bank account number, social security number, eBay/PayPal info, etc.)
AVOID DEALS INVOLVING SHIPPING OR ESCROW SERVICES and know that ONLY A SCAMMER WILL "GUARANTEE" YOUR TRANSACTION.
I know the people that I had an opportunity to talk with on the phone about this rental scam felt somewhat victimized and threatened by this incident as well as myself. It gives you a sick feeling to think that somebody is using your identity to con others and take advantage of people. I hope the Attorney general, FBI, and other agencies that have been notified and are well aware of these situations, figure out ways to capture them and do justice. Once they do, someone else will come along with another great deal, that's to good to be true. So, buyers beware and get professional help when needed.
Serving the Greater Lansing Real Estate Market for 31 Years
Buyers and Sellers need professional consulting in a challenging real estate market like we have experienced 
the past few years in the greater Lansing area. Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings.
Buying a home can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible. Number one is consulting with a Realtor to obtain all the tools and advice needed to make a smart purchase that will not have disappointing surprises prior to the closing. Attached here you will find four helpful reports on buying a home, which will give you some insight to get started.
Selling a home requires top notch marketing by qualified responsible professionals who understand syndication of properties, search engine optimization, and how to obtain additional exposure using social media, like Blogging, Twitter, and pinging.
In todays real estate market sellers should also expect a complete written report on recent market statistics, that include competiing properties, Solds, and those that did not sell. A Realtor can provide information on market current conditions ike mortgage interest rates, legal issues and year to date information on what is happening in the marketplace. These are key factors in getting your property sold at the best price, a shorter amount of time, and with minimum hassle.
Recommend repairs or cosmetic work will enhance the salability of your property. First and lasting impressions will net more money for sellers who have shown pride of ownership in their home with clean, spacious rooms, basements, and garage's.
By precreening, providing a pre-approval for a morgage, and consulting potential purchasers with what's involved to buy a home in advance, a professional real estate agent can help prevent unqualified buyers from putting sellers through the emotional roller coaster of time delays and surprises of unworthy credit. A Realtor can objectively help you resolve these issues and move the transaction to closing
Lastly it's important to have a real estate professional that has a positive attitude, has experienced tough times, knows the market, understands Internet technology, real estate law, has negotiation skills and someone who is not shy about being brutally honest with you about your real estate challenges. You can visit MikeBowler.com for additional ideas on selling your home or search all properties in the greater Lansing, Michigan area.
"Expect the Best" Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
Emailto:Mike@MikeBowler.com
The Greater Lansing area is a great place to live, work, and play. Here's some events taking place you
and your family may be interested in attending in September and October. It's a great way to get involved in our community and your neighborhoods. The real estate market is showing signs of increased sales over the past 2 months and will bring new neighbors into our community. Be sure to welcome your new neighbors, they will appreciate your kindness. Have a great week.
Lansing Riverfest - Riverbanks near Impressions 5 9/19/2009 3:00 PM - 12:00 AM
Michigan State University vs. Notre Dame in Notre Dame 9/19/2009 3:30 PM - 5:30 PM
Willie Nelson and Family Live In Concert Wharton Center for Performing Arts-Cobb Great Hall 9/24/2009 7:30 PM - 10:00 PM
Abrams Planetarium- The Little Star That Could 9/27/2009 2:30 PM - 2:30 PM
Fall Adopt-A-River Clean Up Project - Impression 5 Science Center 10/11/2009 8:00 AM - 3:00 PM
“Expect the Best” Mike
Mike Bowler Sr. ePRO, CRB, GRI, SRES
Coldwell Banker Hubbell Briarwood
1020 S. Creyts Road, Lansing, MI 48917
Phone: 517-492-3400 Fax: 888-832-6203
email: Mike@MikeBowler.com
Website for Clients: MikeBowler.com
Search Listings
1020 S Creyts Road Lansing Michigan 48917
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