I don’t like to admit it, but I’m getting older. I’m well on my way to fifty, the new thirty, and my needs are changing. I’ve noticed that my similarly aged clients wants and needs are shifting as well. when I first got into this business, 16 years ago many of us we flocking to McMansions in the ‘burbs and now those who can are seeking Ranch Style homes or homes with first floor master bedrooms. An article just published in RIS media confirms my findings as a national trend. More here
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Mature-Market Home buyers look beyond stainless
Wednesday, January 27th, 2010What Happens To Housing’s ‘Turnaround’ When Uncle Sam Backs Out?
Tuesday, December 22nd, 2009
Charles Hugh Smith of DailyFinance asks, “What Happens To Housing’s ‘Turnaround’ When Uncle Sam Backs Out?”
This provocative article looks at the housing crisis and the stabilization measures now being taken and asks hard questions but offers few answers.
Think of crisis management as a green house. As long as plants are not exposed to the elements, there is little chance of knowing, with any level of certainty, that they will survive when fully exposed to elements.
Currently the housing market is being supported at an unpresidented level by tax payers–you and me.
In fact, more support is being afforded the housing market than any other industry in history and it ‘appears’ to be having the intended affect.
How this will all play out is not yet know but this article should make us all think and plan accordingly.
“See, I told you insulation is sexy”, Obama says.
Tuesday, December 15th, 2009
Get Homes Sold in Any Market
Friday, December 11th, 2009
Have you noticed homes sitting on the market lately and wondered why they are not sold?
Understanding ‘Pricing’ will aide in getting any home sold. (see graph to the left)
For most of us our natural bent when shopping for anything is to look for a value yet many sellers are still in the habit of pricing homes at Market Value.
In many cases, in a decending market, pricing at Market Value is the kiss of death.
Value-driven buyers simply overlook homes that are not true bargins.
To sell homes in this market consider ‘Pricing’ below Market Value. Doing so will draw ‘Value-driven’ buyers, reduce Time-On-The-Market and increase the probability ( due to increased competition) of selling the home at Market Value.
Do the Math: a mortage payment of 2000.00/month that doesn’t sell is a cost to the seller. So every month the home sets unsold 2000 is spent that could otherwise be invested in the next move.
In this market, pricing at Market Value isn’t smart ‘Pricing’ and it ultimately costs the seller in terms of time and money.
If you want droves of buyers to get excited about your home price it 10-12% below the average most recent sale and then market the daylights out of it prior to the first showing.
In my experience, proper ‘Pricing’ usually creates an auction effect resulting in several offers at or above list price even in down markets.
For more information on How to Get Homes Sold in any Market, contact me at: eric@team366.com.
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Ann Arbor Real Estate Statistics | January 2009
Friday, February 20th, 2009| The first month of 2009 is behind us. Is it an indicator of things to come, or is it simply in line with how January’s have been in the past?
Typically, there are fewer sales in January, and therefore the averages are thrown off a bit. This year, the silver linings for January are the decreased number of listings coming on the market and the fact that there were more closings in January 2009 than January 2008. Overall, the Washtenaw County housing market has further to decline in price, if it is to return to an even market. As Econ 101 taught us, when demand is steady, and inventory high, the only way to burn off the inventory is to lower prices Or offer a tax credit for purchasers… In an attempt to “juice” the housing market along, the Feds have apparently settled on a tax credit for first time primary residence purchasers. Effectively, this lowers the cost of purchasing that first home for many folks. This could help in moving properties in the first time home buyer price points. |
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Average List Price – Month 2008
Average Sales Price – Month 2008
Number of Listings v Closings – Month 2008
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