Below is a current list of Saline Evening Event Cancellations.

Due to inclement weather the following activities have been cancelled/postoned:

High School & Middle School Athletic Practices & Games
All Middle School Evening Activities - including the Band Concert
Heritage Homework Help & Spanish Club
All Community Education activities are canceled tonight which include:
Recreation and Competitive Basketball league practices
Drivers Education Part 1 and Part 2 (students for the part 2 class will be notified on Wednesday morning about the make up day)
6th grade fiddle club
After School Hoops - Pleasant Ridge
After School Kicks - Houghton
Bridge Building - Pleasant Ridge
Jr. Theater
Learn to Study and Test Taking
Before and After School Care (Latchkey) will be open till 6:00 PM regular time.


The Board of Education meeting will be held as scheduled.

Please check www.salineschools.com for further updates.

What is happening in the Saline Michigan Real Estate market?

A snap shot of the month of January:

• 49 homes were listed in January 2010

• 4 rentals were listed

• 6 homes went under contract

• 13 homes sold between 1/1/2010 and 1/31/2010

• Of the 13 homes that SOLD 5 were bank owned

• There are currently 246 homes on the market in Saline

Frames not supported ********************************************* Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

The Housing inventory is down in Ann Arbor.

That is the good news for the overall market. But, not such good news if you have a buyer looking in a certain area with a certain price point.

Foreclosures are still getting the most attention from buyers, with multiple offers being presented. One of my team members wrote and offer yesterday on a foreclosure with multiple offers. I asked her if they went over full price, and she said Yes by several thousand.

This foreclosure is in excellent condition. We also closed on a multi-unit this week that closed at twenty thousand over asking price.

Spring is around the corner, at least what we call the Spring Market in the Ann Arbor Area, so I am sure more homes will come available.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

This week I had Mary McKnight updated my fan page Ann Arbor Real Estate Talk on Facebook. She added my home search site to it.

Mary wrote a post on how to do it on her blog, Sacrilicous Marketing. She has been able to integrate search sites for Tiger Leads, 1ParkPlace, Wolfnet, Z57. But, really she is so smart I am sure she can figure out how to do your search site.

While your over there I also have another new fan page for A2BreakingNews. Pat Kitano created that one for me. I ONLY invited Ann Arbor Area friends to that one, because it is really targeted to everyone in Ann Arbor. Since then I have connected with many Ann Arbor people I did not know before.

I am big on letting people who know what they are doing DO IT, when it comes to programming. Sure I could learn it, but why?

Too busy doing what I do best which is sell real estate.

If you are looking for a face-lift on facebook, give a shout to Mary and Pat, they did an excellent job and I am looking forward to the fruit of it.

Disclosure: Neither Mary or Pat paid me for writing this or even know I did.

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

This is NOT hard...........I am not a math person, and I have found this easy to use. It helps when listing homes to be able to tell a seller a resonable time to get the home sold.

1. Days on Market (DOM). Average days on market is critical to your seller client for several reasons:

• it's important in setting realistic expectations about the time needed to sell a home; i
• t will help you evaluate any offers that come in and make an educated decision about whether it's advisable for the client to wait for another offer or take what's on the table;
• if you know the DOM for your market (or, better, yet, for the client's neighborhood), you'll be able to guide him or her through the process.

Most MLS databases have a much-manipulated DOM number which is invariably skewed low.

Some agents withdraw and re-list, right?

So how can you know what the real number is?

Is it possible to determine the actual DOM for your market even if you're not a rocket scientist?

Absolutely!

Just use the absorption rate to calculate the true DOM for your area. Let me explain.

Here's how you get the real DOM.

• Find out how many homes sold in your market last year and how many are currently on the market.
  
• For example, if 10,000 homes sold last year, and there are currently 5000 on the market, what those numbers indicate is that the inventory turned twice last year (10,000/5000 = 2.0). Now, there are twelve months in a year, and 12/2.0 = 6.0, which is the absorption rate, meaning that the average time actually on market is 6.0 months.
  
• So to convert the absorption rate to days on market, you simply multiply this last number by 30 (6.0 x 30 = 180).

If you figure DOM this way, you'll eliminate all manipulation in your market by builders and agents who re-list stigmatized homes, which of course are those homes that have picked up a negative image due to their excessive time on market.

Use this for the neighborhood the home is in you are listing.

2. Average Markdown (List to Sale Ratio)

• You need to be able to advise your client as to the "typical" discount in your market. Let's assume that the average listing price is $175,000, and the average sale price is $169,000.
  
• subtract the average sale price from the average listing price, and then divide the difference by the average listing price.

$175,000 - $169,000 = $6000

$6000/$175,000 = 0.034, or 3.4% markdown

In other words, your client should understand that it's normal in your market to expect a markdown (or discount) of 3.4% from the listing price.

• Setting expectations shows him that you understand the market and that you'll help prepare him for the offers that will be coming in.
  
• You'll also have an advantage in negotiating with other agents when you know that the average markdown in a certain neighborhood is only 0.5%, while they're offering 4% below the asking price!
  
• You can tell an agent that it's unreasonable to expect your client to accept such a figure and that he should encourage his client to make a more reasonable offer.
  

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders