May Monthly Market Update

All,

April sales took a nice jump, gaining back some of the delayed sales from January through March. Although spring sales are moving up, the combination of fewer homes to purchase and reduced buying power will keep sales from making up all of the decline we saw in the first quarter (compared to last year). We still see 2014 as a strong real estate year across all markets and price ranges, however about 5-7% down from last year in terms of total homes sold.

One of the biggest logs in the dam holding back a flood of new listings is the seller’s “Move Up Spiral.” With many homes selling quickly, sellers are afraid to put their home on the market until they find a home to buy to avoid an intermediate move. Imagine if all sellers held back for that reason, there would be very few, if any, homes to purchase. On the other hand, if all of those sellers let us know of their intent to sell (even if they did not specifically put their home on the market), our matchmaking skills would take over, creating additional sales and breaking up the log jam. We do see this now, with about 10% or more of our sales “creative,” meaning transactions where the properties were not specifically on the market.

We have successfully used sales contracts with extended closing and occupancy dates to give sellers more time to look for a home and many sellers are arranging for an interim move. Although not convenient, it does give sellers certainty. Our most successful strategy has been simply reaching out to homeowners in targeted areas via mail, social media or even door to door with messages about the new home needs of our sellers (aka hesitant buyers) to find that other reluctant seller whose home fits our clients’ needs. 

One area to watch is some creeping overconfidence on the part of some sellers as a result of media and our own discussion of double-digit appreciation and bidding over asking price. Values are rising quickly and 68% of all home listings are selling in 90 days or less. However, homes are still selling on average at 96% of list price, so buyers are aggressive, but within a relatively narrow value range. Buyer activity is always the best gauge of whether a home is at the right price point. Under the current market conditions if the property is priced correctly, showing activity should be immediate and there should be at least one offer in the first 30 days (markets over $500,000 will have a slower activity pace).

Our monthly charts break down the markets by under and over $100,000 segments. If we move upstream a bit in price the differences in markets become even stronger. Here is a snapshot of the market change from April of 2013 using a $200,000 price point. Both are moving in the same general direction but at different paces: the inventory levels under $200,000 show dramatic declines, while the over $200,000 is more modest. A buyer looking in either segment will experience some inventory frustration.

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Open Houses for this Weekend (10/18 – 10/20)

red open house

Friday, October 18th – Sunday October 20th 2013

Click on the links below to view property details, photos, and listing agent contact info for each property.

Friday, October 18th:

Saturday, October 19th:

Sunday, October 20th:

 

 

Open Houses for this Weekend (10/4 – 10/6)

Open House wknd

Friday, October 4 – Sunday October 6th 2013

Click on the links below to view property details, photos, and listing agent contact info for each property.

Friday, October 4th:

Saturday, October 5th:

Sunday, October 6th:

 

2029 Mayflower

2029 MAYFLOWER:

This is an exciting new development from Benchmark Homes. 27 beautiful wooded sites. These homes boast Troy Schools. The 1st homes in the development will be ready Dec 2013. 5 bedroom/3 bath Colonial. 3 car side gar. Spacious kitchen w/ walk-in pantry/island/vented hood fan. Granite counters are available in the kitchen and bathrooms. Deluxe master suite/cathedral ceiling/huge walk-in /double vanity & separate shower & tub. Versatile plan allows 1st flr bedroom/den/living room. Elevation c. No split closings. Comm paid on base price. (Click on the address link above for complete details.)

 

1009 CAMBRIDGE

1009 CAMBRIDGE

Wow! Just move in!  This is a totally renovated impeccable ranch with great location. This home boasts up-to-date décor, fresh paint, beautiful maple Kraftmaid kitchen/granite/Kitchen Aid appliances. 2 recently remodeled ceramic baths, jetted tub, hardwood floors, newer roof, windows, siding, fenced yard w/raised garden, stamped concrete, electrical, copper plumbing, new garage door opener, disposal, finished basement including washer & dryer. The Home next door is being remodeled and will be done by Dec 31. (Click on the address link above for complete details.)

832 RANDALL

832 RANDALL

This is a beautiful Colonial with an open floor plan and ready to move-in condition. It is located in an area of highly desired Troy Schools. This home features a large finished basement. All appliances will stay. You will love relaxing in the oversized back yard with beautiful patio. Non-homestead taxes. New carpeting on 2nd floor. (Click on the address link above for complete details.)

 

14112 CASTLE

14112 CASTLE

Newer home rebuilt in 2001 from ground up. 3 bedrooms, 1.5 baths w/nice hardwood floors. All appliances stay in the large open kitchen. The basement is finished & has an area prepped for a nice bar should you like one. Basement has plenty of storage & a bathroom with a shower. There is an extra room for 4th bedroom if needed or can be used as an office. 2 car attached garage, large fenced backyard. You will not be disappointed. (Click on the address link above for complete details.)

 

 

 

Open Houses for this Weekend (9/27 – 9/29)

Open House wknduntitled

Friday, September 27, 2013

Click on the links below to view property details, photos, and listing agent contact info for each property.

Friday, September 27th:

Saturday, September 28th:

Sunday, September 29th:

Alex Nugent Proudly Presents….4400 Middlesboro

Alex Nugent Proudly Presents…4400 Middlesboro, Independence Township:

Middlesboro  Middlesboro BACK

Outstanding Oakhurst home!

Middlesboro FP

 

Amenities include hardwood floors throughout, soaring ceilings!

Middlesboro GR

 

Georgeous granite tops in kitchen and baths, huge Gourmet Kitchen with Island, Butler’s pantry:

Middlesboro KITCHEN

4 full baths!

Middlesboro MBTH Middlesboro MBTH TUB

2 Sided Fireplace:

Middlesboro MB FP

Completely finished basement with additional 5th full bath:

Middlesboro FIN BASE

Great rear Stone Patio with Fire Pit:

Middlesboro PATIO

Professional Landscaping. Oakhurst Golf community/tennis/fitness/clubhouse/common pool.

Beautiful Master Bedroom:

Middlesboro MBD

 

Lovely Nursery and bedrooms:

Middlesboro NURSERY Middlesboro BED4 Middlesboro BED3

 

To find more details about this fabulous Home, click HERE!

Open Houses for this Weekend (9/20 – 9/22)

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Friday, September 20, 2013

Click on the links below to view property details, photos, and listing agent contact info for each property.

Friday, September 20th:

Saturday, September 21st:

Sunday, September 22nd:

Karen Wilson Proudly Presents…6553 Crabapple, Troy

Karen Wilson is proud to present 6553 Crabapple, Troy!

FRONT OF HOUSE

This is a Fabulous home in one of Troy’s premier subs. Custom home with great Curb Appeal. New $8,000 Double Custom Front Doors.

ENTRY

Original Owner. Deluxe Touches throughout. Premium Lot with mature trees, Florida Room with Tile Floor:

SUNROOM

Paver Patio, Professional Landscaping.

YARD-PATIO

Wonderful Floor Plan with first floor Master Bedroom:

1ST FLOOR MASTER

Oversized Great Room, with soaring ceiling that features a 2nd story catwalk and a fantastic foyer:

GREAT ROOM STAIRWAY CATWALK FOYER

This beautiful home boasts a huge Kitchen featuring granite countertops, Appliances, a Breakfast Nook and a Butler’s Pantry.

KITCHEN 2 KITCHEN NOOK

This home also features a lovely Formal Dining Room:

FORMAL DR

Finished Basement with cabinetry, sink, and Recreational room. Replaced Furnace/air/roof. Immaculate & Neutral decor. A Real Find!! Exclusive and beautiful.
FINISHED BASE