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Why Are Appraisers Calling This a Declining Market? Prices are Up and Inventory is Low! - 12/30/10 06:20 PM
Here in Southeast Michigan- specifically North Oakland County Michigan- home prices have been creeping back up and inventory is much lower than this time last year. In fact in many areas we are looking at a 4-6 month supply of active listings. This week we had yet another appraisal come in low. And again the appraiser states twice in the appraisal that the subject property is in a declining market and actually subtracted value off the comparable sales due to closing dates. The facts are: Subject property is in Springfield Township Median sales price in Springfield Township in 2009 was $145,500. (2 comments)
The Preserve, Lake Orion MI- Are Prices Rebounding? - 12/28/10 06:45 PM
The Preserve, Lake Orion MI- Are Prices Rebounding? The Preserve is a very nice neighborhood in southern Lake Orion with easy access to I-75. Some of the many amenities that make The Preserve desirable are city water and sewer, sidewalks, subdivision lake, club house with a swimming pool, tennis courts and play ground area. The sub is also surrounded by woods which added value to the perimeter lots when build jobs were sold; value that seems to have stuck to the homes even in the current housing market. The home values in The Preserve were hit hard just like the rest (2 comments)
Looking for a Nice Home on a Couple Acres? - 12/24/10 07:18 PM
The past few weeks I have been showing houses in North Oakland and Southern Lapeer Counties, all on at least an acre and many with pole barns. My brain knows prices are way down, but for some reason I'm still amazed when I show houses. These particular buyers found a house in Dryden Township in Southern Lapeer County- less than a mile off Rochester Rd. Over 2600 sq. ft. which doesn't count the finished walk out basement. It's a bank owned home in excellent condition on over 2 1/2 acres with a pole barn. The asking price is $206,900. We looked at (2 comments)
Rolling Meadows, Lake Orion- Prices Inching Back Up? - 12/24/10 01:35 PM
Rolling Meadows, Lake Orion Rolling Meadows, Lake Orion real estate sales are a bit stronger this year than in 2009. In 2009 there were 16 closed sales in Rolling Meadows and 4 leases with sale prices ranging from $153,000-$247,000 and lease prices ranging from $1500-$1800/month. In 2010 there have been 14 closed sales in Rolling Meadows as of Dec. 24 with sale prices ranging from $164,505-$237,000. In 2010 there have been 5 foreclosure salesIn 2009 there was only 1 foreclosure sale In 2010 there have been no short sale closingsIn 2009 there were 2 short sale closings In 2010 there were 4 (0 comments)
Lakefront home sales in the Lake Orion school district for 2010 are up from last year with 53 lakefront sales in 2009 and 59 lakefront sales so far in 2010 (as of Dec 20).
2010 Lake Orion lakefront home sales ranged from $29,900 for a house on Square Lake to $483,600 for a house on Duck Lake. 2009 prices ranged from $55,000 to $1,200,000. One interesting fact: the highest price sale each year was on a NON sports lake.
So far, lakefront home sales in Lake Orion are as follows: 12 lakefront homes leased 59 lakefront home sales (0 comments)
Lapeer Community Center- Something for Everybody! - 12/21/10 12:32 PM
Sometimes I come across a buyer who wants to live in Oxford or Lake Orion, but what they want in a home really isn't in their budget. I usually follow up with a question along the lines of: "Is Lapeer too far of a drive?" Often time the response is along the lines of "What is there to do in Lapeer?" This post is one in a series covering the numerous amenities both the City and County of Lapeer have to offer. Smack dab in the City of Lapeer (just outside of the "downtown" area) we proudly boast the City of (4 comments)
Is the Appraisal for Your Protection? - 12/19/10 07:44 PM
When buying a home in Oakland or Lapeer County Michigan a standard contingency is financing (the buyer obtaining a mortgage for the house). Normally, part of the financing process is an appraisal, and the cost of the appraisal is born by the purchaser. So is this the purchaser's appraisal? And is the appraisal for the protection of the purchaser? The answers are no and no. If it really was the buyer's appraisal, the buyer would get a say in who the appraiser is. Or at least the buyer's loan officer would get a say. The appraisal is for the protection of the lender. (8 comments)
Metamora-Hadley Recreation Area - 12/17/10 06:20 PM
One of the perks of living in Lapeer County Michigan is the abundance of state land and parks. The Metamora-Hadley Recreation Area accounts for 723 acres of that state land. Located in Hadley Township in southern Lapeer County, Metamora-Hadley Recreation Area is bordered by Ritchie, Baldwin and Hurd roads with an entrance on Hurd Rd. as well as hunter parking on Hurd Rd. Metamora-Hadley Rec Area features 80 acre Lake Minnewanna in the center with a beach area, 214 campsites and 6 miles of trails. The campground offers modern restroom facilities with flush toilets and hot showers. Each site boasts electricity, fire pits and picnic tables. (3 comments)
Working at Home Isn't So Bad - 12/14/10 03:41 PM
There are many advantages to working at home. I treat this like a job which means I'm in front of the computer working by 9 am and work through the day. If it's a day with no appointments I'm on the computer all day, cell phone and land line next to the computer. The time I save driving I can use to extend my work day (or not). Today was a work in front of the computer day. We had several inches of snow over the weekend and the roads are icy. The heavy snow fall increased the bird activity in (6 comments)
The Top 10 Reasons You Should Use My Preferred Lender - 12/07/10 06:56 PM
When a buyer comes to me already pre-approved by a loan officer they like and intend on using, I never try to sway them away and toward the lender I prefer they would use. I wouldn't appreciate it if a loan officer tried to get one of my clients to switch real estate agents, so I try to show the same respect to other professionals a buyer chooses to work with. Then there comes a transaction that should be smooth as silk, and we come to a point where I really really miss my preferred lender. I have a closing scheduled (5 comments)
Round Tree Lake Orion Real Estate Sales - 12/07/10 06:08 PM
Round Tree Lake Orion Real Estate Sales Round Tree is a 223 home sub in Orion Township with entrances off M-24 and Scripps Rd. Houses in Round Tree were built between 1993 and 2003 and range in size from 1828 square feet to 2767 square feet with most of the houses well over 2000 square feet. Round Tree homes have city water and sewer, sidewalks, community park and abuts Bald Mountain Recreation Area to the east. Lake Orion High School with a swimming pool and tennis courts is across Scripps Road. Round Tree is conveniently located just minutes north of I-75; the exit (0 comments)
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.