Take a look at this new listing at 566 Hobart Court, Saline, MI. Priced at $399,900, it is available immediately.
Welcome to 566 Hobart Court in the York Place subdivision of Saline! This is a custom-designed, original-owner home on an acre lot. In the kitchen, you'll find maple cabinets and Granite counters. The kitchen is open through to the breakfast nook and the family room, which features vaulted ceilings and a mantled fireplace. The large dining room has space for entertaining. There's also a first-floor study, off the foyer. You'll find all the amenities you'd expect in the Master suite, plus the unexpected - a 2nd floor laundry. There are showcase colors throughout. The finished basement includes a wet bar and room for a home theatre. In back, you'll find an incredibly beautiful 2-tiered patio and gardens surrounding the in-ground pool. This is a fabulous home!
If you're considering a newer home in the Saline area, you owe it to yourself to check out this home. I'd be happy to give you a tour, so talk to someone with local knowledge! Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate.com".
Take a look at this new listing of a home for sale in Ann Arbor Michigan, located at 4 Manitou Court, Ann Arbor, MI 48108. Priced at $79,900, it is available immediately.
Welcome to 4 Manitou Court in Ann Arbor! This 3 bedroom home is great for either owner-occupied or investment. It is presently leased $925/mo., so at this price, it will provide a cash return! The oak floors throughout are nicely refinished. There is an updated tiled bath, and oak cabinets in the updated kitchen. The lot is extra-deep lot, and includes a shed for storage, located on a quiet cul-de-sac location. You can walk to the nearby elementary school. This home is approved for a Short sale approved, and shown with 24-hour notice.
If you're ready to start your search for an Ann Arbor home or condo, talk to someone with local knowledge! I'd be happy to meet with you. Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".
Today, the Friday after Thanksgiving, is known as the biggest shopping day of the year.
For my family, that is most certainly true!
We start with all the ads in the Thanksgiving newspaper - actually, it's one of the few times during the year when I even bother to look at the ads. Working with the list of family members we selected on Thanksgiving day, we'll put together our "shopping list". Then, it's off to the stores!
The Friday after Thanksgiving has been given the name "Black Friday" - not because it's bad, but because it's good. It is likely the first day of the year when a store moves into the "black" on their profitability statement. Think about that! You own a store, and all year, until Thanksgiving, you're losing money. But beginning the day after Thanksgiving, you begin making a profit for the first time all year. Talk about risk! Those store-owners are counting on us to make their year profitable, starting today. So, it's time to hit the stores now.
If you're considering a Saline home or condo, you owe it to yourself to take advantage of my experience in the Saline market. I'd be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".
Each month, I review all of the homes for sale (column 2) in Saline within defined price ranges (column 1), and those homes where the sellers have accepted a sales offer from a buyer (columns 3 & 4 - Percent Pending). I also review all of the sales in past 30 days in each price range (column 6). The results for November 2008 are shown in the table below:
Using the data shown above, this month, let's look at a chart of the number of months of inventory of homes for sale in Saline. The number of months of inventory is calculated by taking the total number of homes available for sale (column 2 above) divided by the number of homes which have sold in the past 30 days (column 6 above).
In the chart above, the blue bars show the number of months of inventory each month in 2007. The red bars show the number of months of inventory each month so far in 2008.
This chart clearly shows the continuing improvement we see in the Saline real estate market. Other than back in January, 2008, the level of inventory so far in 2008 is lower than in the same month in 2007. The figure for November, 2008 is that we have 11.4 months of homes to be sold. The figure for 2007 was 16.8 months of homes to be sold.
The holidays are right around the corner, and Saline homes and condos are still selling. I'll continue to keep track of our market. Count on it!
If you want to be the first to know about conditions in the Saline market, please subscribe to my blog. Thanks!
What do you think? Do you see the market improving here in Saline? I'd love to read your comments on our market.
If you have questions about your specific situation, or if you're considering selling your Saline home or condo, you owe it to yourself to take advantage of my experience in the Saline market. I'd be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".
If you're looking to buy or sell a Saline home or condo, or have questions about your specific situation, you owe it to yourself to take advantage of my experience in the Saline market. I'd be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".
You can take a virtual tour of any of these homes through the respective post.
If you're ready to start your search for a Saline home or condo, talk to someone with local knowledge! I'd be happy to meet with you. Just give me a call at (734) 476-2063, or send an e-mail, "Vance (at) SalineMichiganRealEstate (dot) com".
OK, I've been meme'd once again by Missy Caulk, my nearby neighbor in Ann Arbor, MI, over the weekend.
If you don't know what a meme is, think of "tag, you're it". Meme rhymes with dream.
The rules are that I am to share 8 things you might not know about me:
1.. Who is my favorite musical artist?
Of all time: Pink Floyd. Very influential in the development of my musical tastes, which run the gamut. "The Wall" is my top album of all time. I think I've worn the digital info off a couple of CDs of "The Wall". An incredible tribute to one of the band's founders - Syd Barrett.
Recent: Sum 41. Their lyrics have always caught me, and coupled with the creativity of the musical accompaniment, I'm hooked. Here's my choice from YouTube.
2. Who is my favorite artist?
As a kid, MC Escher captivated me. Here's one of my MANY favorite Escher works:
(Escher)
3. Who is my favorite blogger?
With over 50 daily RSS feeds on my reader, how can I choose? What I look for in an RSS feed is that the blogger resonates at my harmonic frequency on a regular basis. There are at least a dozen who qualify by that definition. The best way to choose? Watch where I comment the most frequently.
4. Who would I like to meet?
I know that I'll be meeting Jesus one day (let's not rush things there, my friend), as he has already gone ahead to prepare a room in his mansion for me. Just think - real estate for eternity!
George Washington is such an enigmatic figure in our history. I'd ask him about his surveying work across the Appalachians during the formation of the revolutionary ideas of the era. When you think about it, this nation was blessed to have many, many brilliant and passionate people come together at one time, with one mind - independence. We're coming up on the celebration of that independent spirit in about a month. Be sure to say thanks to our founding fathers on July 4.
5. What did I want to be when I grew up?
A race car driver. It's still in my blood. My driving motto: I go fast when I can, and slow when I have to.
6. What is the most important trivia that I know?
There are 272 words in Lincoln's Gettysburg address. Having just read one (of many) biographies of Lincoln, I've learned how much influence he had on our nation, even today. Being an attorney, he valued the importance of words, and chose them for maximum impact.
Four score and seven years ago our fathers brought forth on this continent, a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.
7. If I could live in any point of history, when would I want to live, and why?
The post-depression era in Europe. I'd like to find out how the evil of Hitler was perceived by those who let such evil continue unabated until WW II. Then I'd bring that info forward into the present era to ask our political leaders "What is there about pure evil in this world that you either don't recognize, or won't do anything about?"
8. My most interesting job?
As a teenager, I worked in the golf shop of a local country club. I learned a lot about people - how they held themselves, how they interact with others, how they value money. From that experience, I developed the love of "people watching". I can go anywhere and be fascinated by watching people. It's also where I honed my golf skills, which I still practice today. Note, I said "practice".
As I value both my own time, and the time of others, I'm going to refrain from saying "tag, you're it!" to 8 other bloggers. So, for now, this meme path ends with me.
If you like my blog, please subscribe! Just hit the "RSS" logo button to your right. Thanks!
As you all know, I review our market statistics around the middle of each month. What I'd like to focus on this month is the overall strength of the market in, and around, Saline.
The first chart I'd like to review is shown below. I've tracked real estate activity for the Saline real estate market since 1996. There is a definite seasonality to the market - strength in the summer, weakness in the winter. A reading above 25% is a "seller's" market, while a reading below 20% is a "buyer's" market.
It's no surprise to learn that we have been in a "buyer's" market in Saline since the end of 2004 - more than three years, now.
What we see here in the middle of May, 2008, is a continued strengthening in the overall real estate market, going back to last October. The jump in strength from April to May is very encouraging, as we have reached a level unseen since the summer of 2005. So, the question to ask is "What could be the cause of this?"
This second chart (above) shows 2 lines. The top line shows the number of homes available for sale (listings) in the Saline area. The lower line shows the number of homes sold each month.
In answer to my question posed above (What could be the cause of this?), the strengthening of the Saline market since October is a direct result of fewer homes listed for sale. Each month, there are fewer and fewer homes for sale in the Saline market. How could this make the market stronger? Well, with fewer homes competing for the available buyers, it's more likely that any of the homes listed for sale will actually sell during the month. That's what we mean by a strengthening of the market!
Another interesting observation from the chart is that the number of sales in the Saline area has been rather consistent since 2005! In a previous post, we learned about the three "P's" that you control when you sell. The homes that are selling now, have been selling since 2005, are those that have consistency between the three "P's". Go back and check that post for a reminder.
The final piece of the analysis of the strength of the Saline real estate market is the months of supply of homes presently on the market.
This table shows the "raw data" that makes up the charts shown above. On the far right hand side of this table shows the "Months Supply" in each price range. Rather than focus on any particular price range, it's more helpful to understand the overall level of inventory of homes for sale.
As of mid-May, at the present pace of sales of homes in Saline, there are enough homes on the market to supply about 10 months of demand. This is down significantly since February, when there was nearly a 20 months' supply of homes for sale. In the past few years, it's been typical to have about 6 months' supply of homes for sale, so our market continues to improve toward our average.
If you're looking to sell in this market, take heart! Call me!
The traditional method for selling your Saline real estate is to list it with a Broker. By "traditional", I mean only that most sellers choose this method. You ask your friends and relatives for the name(s) of reputable Realtors®. You contact each of them, making note of the ease of reaching them, and your comfort level in speaking with them (after all, you'll be speaking with them a lot during the selling process). You choose one and begin the listing process.
In today's market for Saline real estate, we have an 11-month supply of homes available for sale. What that means is that it could take many months to get your home sold. (Let me emphasize that it could take that long, depending upon your asking price).
But what if you can't wait that long to get your property sold?
There's always (gasp!) an AUCTION (HUGE GASP!)
Why would you choose an auction?
With a real estate auction, you have the likelihood of a certain date for the sale of your property. I must emphasize that it's only a likelihood - which you'll understand more below.
There are two primary forms of auction.
•1. An ABSOLUTE auction. This is where the property sells, no matter the hammered price. It is via an absolute auction that you get the most interest from the buying public, as they know that THEY could be the one to scoop up your property at THEIR price.
At an absolute auction, you also know the exact date that your property will likely sell. (I say "likely", because until the buyer actually hands over the certified check to the auction house, it still isn't sold).
•2. A RESERVE auction. This is where the property sells, but only if the hammered price is above your minimum price. At a reserve auction, you'll generally see fewer buyers than you will at an absolute auction. Bidders at a reserve auction will not know your minimum price. My guess is that a bidder's thought process will be something like this - "I'll bet they set a reserve because they ‘have' to get a certain price, so I won't bid as high, and hope only that I'm above the minimum." Contrast this attitude with one from an absolute auction, where the bidders will continue to bid until they either win, or reach their maximum bid level.
At a reserve auction, if the reserve price isn't met, you still won't have a certain date that your property will sell. You may have to list it for sale again with a Realtor®, or try another auction. But understand, once an auction fails, the likelihood of a bidder increasing a bid amount is totally diminished. This ties into one of my fundamental truisms of real estate - the first offer is USUALLY the best offer.
I have been the listing agent for sellers at auction in the past. It is a gut-wrenching process to go through - not for those with a weak stomach. It's not like eBay where you don't see the seller or the other participants. Think about this. You have to know with absolute certainty what price you will accept, and stick to it. No wavering.
In one particular case, I recall watching a seller writhe in agony as the hammered bid amount was just slightly below the reserve price. I advised the seller to accept the bid, even though it was below the reserve level. While the seller deliberated, the buyer tapped his foot, waiting, and about two minutes later, walked away. The seller lost the sale, and eventually lost their house to foreclosure. Rather than accept a little less than they "wanted", they lost their entire equity and their ability to borrow for years to come. All for a couple thousand dollars. Ouch.
If you're wondering about an auction of your Saline real estate, ask an experienced Realtor® first.
I'm not much of a coffee drinker (Pepsi is my choice for COLD caffeine). That said, many of my friends and clients (especially those with younger children) have lately spoken of a new spot for coffee (and more) in Saline.
Beanstalks Play Café is located in the old Calico Cat building (which is a former church built in 1899) at 117 S. Ann Arbor St. The building is located within the central business district in downtown Saline. Beanstalks Play Café joins the growing trend of businesses geared toward family-oriented play and recreation.
The space has a giant play structure, toddler area, small gift shop, coffee bar and snack area on the main floor. The lower floor has a video game room and space for birthday parties, and the top floor has an office.
Admission to the play cafe for a day is $6 for children ages 1 to 15. A three-month pass is available for $55 for one child, $90 for two children and $125 for a family of three or more children. Adults and children under 1 are free.
The proprietor, April Scarlett, considered a franchise (like Jungle Java), but wanted the freedom to bring her own expertise to the center without corporate interference. She previously owned a children's party-planning business for five years.
So when you're considering Saline Real Estate, (especially for the schools!), you'll know that there is a local place for your kids to work out some of their energy. This is especially important in the era of $4 per gallon gas!
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
