Is there less inventory on the market in your neighborhood? Are you seeing bidding wars on properties? Well, according to FHA Commissioner, David Stevens, address to NAR members he is seeing a stablization of home prices and expects home prices to increase in 2010. Along with the increase in home prices, Wall Street Journal article says we can also expect an increase in interest rates. See the links below to get the full and real story!
I know in my area of business, especially in certain price points, I am seeing virtually no inventory OR if a listings comes on the market, it is snatched up before I can schedule an appointment to show the house. Bidding wars aren't just happening in the lower end homes, they are happening at every price point. I had a fellow agent call me last night to discuss an offer going in about $30,000 over listing price. This home is in the $300-$350,000 price point.
So, quit thinking that you will jump on the band wagon when the market hits bottom---if I knew when the bottom hit, I would have jumped on board as well! Procastinators will lose out on this phenomenal housing market if they sit on the sidelines much longer!
http://online.wsj.com/article/SB125797275784744057.html
I love to try new things....could be that is why I love sales! Have you ever watched Zorro? Were you envious of Capt Jack Black from PIRATES OF THE CARIBBEAN? A couple of weeks ago, I took an introduction class in fencing. WHAT a blast! Better yet, what a work out! Brighton Community Center offered an intro class in fencing and I decided to give it a whirl. My nephew agreed to take the class with me and the two of us loved it. The instructor/owner was from the Liberty Fencing Club in Livingston county. He brought all of the equipment and gave us a thorough explanation on the art of fencing. Tuesday evenings the fencing club has open fencing. Even if you don't have a partner to fence with, you can practive with the automated fencing machine they have. It really is like dancing. Recent articles that I have read say that fencing is going to be the next big sport to follow. Any age can do fencing and any body type! If I can do it, anyone can. Check out their web site--this is something that the whole family can do together. The kids will love this. Really, how often do you give your kid a sword and say go for it!
www.libertyfencingclub.org
"Bringing Home Buyers & Sellers Together In A Competitive Real Estate Market"
I just attended an outstanding meeting sponsored by the Livingston County Women's Council of Realtors and let me share with you what I learned!
The panel consisted of several top notch, highly successful realtors. One in particular, works with lenders and lists only foreclosed properties. She discussed that lenders are pricing their properties to sell---the notion that you can purchase a home for 50% of the bank's listing price is false. You may be able to get the property for 2-3% under asking price but THOSE DAYS ARE OVER where you could "steal" a property--several agents spoke about writing offers on bank owned properties and offering up to an additional 25% over asking price for the property. In my experience, I have written offers on bank owned properties for OVER asking price and still have been outbid. Trust me--your realtor is not trying to squeeze you for a few extra sheckles to put into their pocket.....they are trying to help you acquire a home! As an agent, I don't enjoy making the phone call that tells the buyer YOU WERE OUTBID or worse yet, the lender thanks you for your offer but no counter. The next time you think about low-balling on a property, you better decide if you plan on just writing and submitting offers OR if you are a serious buyer!
Currently inventory in certain price points are drying up so be prepared to put your highest and best offer out there.
"Professionally Bringing Buyers and Sellers Together"
The Howell Area Lions Club is offering FREE VISION SCREENING. The screening is intended for children ages 1-5 years old. To pre-register stop by or call Youth Services at 517.548.0720 Ext 107. The screening will take place at Howell Carnegie District Library, located at 314 W. Grand River Howell MI 48843 (www.howelllibrary.org)
"Project Kidsight" has grown from the effort to prevent blindness and has been active in MI for 10 years. This program is endorsed by Children's Hospital of MI, Kellogg Eye Institute, Michigan Opthalmolgolical Society, The Michigan Dept of Community Health and others.
For your information 1 in 20 kids aged 1 to 5 has an eye problem that can premanently affect vision if left untreated. "Project Kidsight" screening detects seven diseases and qualifies as the manadatory vision screening required by the state of MI prior to entering kindergarten.
Spread the word! With everyone's health insurance being cut--this is a FREE program!
Have we bottomed out? Is the recession over? I don't know the answer to either question, but what I do know is that listings are down and home sales are up in Livingston County--what this could mean is that the real estate market could be slowly moving into a seller's market. Yep, you read it right--seller's market. Check out the stats below recently released from the Livingston County Board of Realtors and you decide.... It is true prices are depressed but maybe that means that the "real" value of real estate is finding itself.
2009 Versus 2008
Listings* 609 727
Sold 184 143
Sale Price $145,000 $175,600
*Only includes residential only--not condos, commercial, vacant land
(This statistical information, although not guaranteed, is from data I believe reliable. )
So if you are a homeowner who has been thinking about selling their home, be prepared if your home is priced RIGHT for possible multiple offers. That is what us realtors are seeing in our negotiations.
 |
|
|
I unite home buyers and home sellers SUCCESSFULLY in Michigan's challenging real estate market! As a CDPE and SFR I can help homeowners avoid foreclosure & save their credit.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
