The Pearson Group Blog

Waterford Market Update

Wed, 22 Jul 2009 12:19:09 -0500

Waterford has seen an improvement in the number of house sales over the past three months. Although the prices have stayed on a steady decline, it is considered a seller's market in every price bracket below $125,000.

The Absorption Rate Graph for Waterford is posted below.

6 Months Supply of Inventory = Balanced Market
Over 6 Months Supply = Buyer's Market
Under 6 Months Supply = Seller's Market

Clarkston Real Estate Update

Wed, 22 Jul 2009 12:03:17 -0500

The Real Estate market in Clarkston has shown signs of improvement in certain price brackets. Like most area communities the market has greatly improved in the lower price range. Although these price brackets have also declined at record breaking percentages, at least the inventories in these price ranges have leveled off to the point we are now experiencing a seller's market in some price brackets.

View the Absorption Rate Graphs below to identify how the supply and demand impacts the market conditions.

6 Months Supply of Inventory = Balanced Market
More than 6 Months Supply = Buyer's Market
Less than 6 Months Supply = Seller's Market

$75,000 - $750,000 Graph 1 of 2

$200,000 - $750,000 Graph 2 of 2

New Program may Help put your Home on the Top of a Buyer's List

Tue, 23 Jun 2009 11:12:45 -0500

We have some good news for you. With the challenges of the economy, we have created a program that will both provide a benefit to home buyers and also attract more of those buyers to your home. It is called the Home Mortgage Protection Program (HMPP) and it offers the buyers of your home peace of mind should they lose their job after purchasing your home.

The program is provided through the Rainy Day Foundation, which is a non-profit mortgage/personal finance counseling service. Their mission is to help homeowners who are having trouble with their mortgage payments under their Homeowners Education and Loan Protection (HELP) program. Within HELP they offer a Home Mortgage Protection Program, giving a home buyer some protection from job loss by paying up to six months of their mortgage payments if they lose their job within two years after closing.

There are only a few brokers across the country offering a program like this so it will make your home standout among the competition. The details of the HMPP are included in the attached documents. Our mortgage company, John Adams Mortgage, is coordinating the program with The Rainy Day Foundation and our loan officers will be happy to explain the program and answer all of your questions.

The program costs $550 and is paid by you from your sale proceeds, so there is no upfront money to get started. The basic rules are that the buyer can not pay for the program and it must be offered to all buyers (i.e. it can't be added to the purchase agreement after negotiations or at the request of the buyer). John Adams Mortgage is the only authorized lender for the program so the buyer must also place their mortgage through John Adams. In some cases the buyer may choose to trade out the HMPP program for another seller concession, in which case there will be no charge to you for the HMPP.

Contact us if you would like further information about this program.

If your home is currently listed with another broker disregard this as it is not our intent to solicit the offerings of another broker.

Kay Pearson and Robin Cutler
31 S. Main Street
Clarkston, Michigan 48346
248-860-0366
kaypearson@maxbroock.com
www.KayPearson.com

New Program could Help Buyer's in the Event of Job Loss

Tue, 23 Jun 2009 11:00:42 -0500

We have some good news for you. With the challenges of the economy, we have created a program that will provide a benefit to our home buyers. It is called the Home Mortgage Protection Program (HMPP) and it offers buyers peace of mind should they lose their job after purchasing their home.

The program is provided through the Rainy Day Foundation, which is a non-profit mortgage/personal finance counseling service. Their mission is to help homeowners who are having trouble with their mortgage payments under their Homeowners Education and Loan Protection (HELP) program. Within HELP they offer the Home Mortgage Protection Program, giving a home buyer some protection from job loss by paying up to six months of their mortgage payments if they lose their job any time within two years after closing.

There are only a few real estate brokers and mortgage lenders across the country offering this program. Our mortgage company, John Adams Mortgage has been approved to offer this program and the details of HMPP are included in the attached documents. John Adams Mortgage is coordinating the program with the Rainy Day Foundation and our loan officers will be happy to explain the program and answer any of your questions.

The HMPP cost is $550 and is available on any listing however, it can not be paid for by the home buyer. It must be paid for by the seller as a "seller concession". John Adams Mortgage Company (JAMCO) is offering this program to all qualified home buyers who obtain their mortgage loan from JAMCO.

Contact us for more information.

If you have executed an "Exclusive Buyer Agency Agreement" with another broker please disregard this post as it is not our intent to solicit business from another broker

Kay Pearson and Robin Cutler
31 S. Main Street
Clarkston, Michigan 48346
248-860-0366
kaypearson@maxbroock.com
www.KayPearson.com

House Sales are Heating UP!

Tue, 05 May 2009 10:46:11 -0500

OK.....we're not on fire but it surely is nice to have 7 offers in progress and a frenzy and concern that our inventory is dwindling. When my partner says we are losing our listings......it's great news when our inventory is dwindling because we are selling homes.

So.......look out. A fire has been set under my tooshie to get out and Look for homeowners who want to sell their homes in North Oakland County.

My partner, Robin Cutler, has completed the Certified Distressed Property Certification Course and we have successfully closed dozens of short sale and pre-foreclosure homes.

We Market Our Listings on over 40 Websites to Attract Buyers

While you can't help but become experienced in selling distressed property situations, we have several sellers who have maintained equity, and they too, need our expertise to maximize the return on the investment of time and pride
of ownership that is evident in their beautiful home.

"Our goal is to meet every buyer and seller's real estate objective with the least amount of turbulence."

Kay Pearson and Robin Cutler have sold hundreds of homes throughout Michigan. They sell primarily single family homes in North Oakland County, serving primarily, Clarkston, Waterford, Lake Orion, Rochester, White Lake, Brandon, Holly, and Grand Blanc.

Clarkston Colonial - Excellent Location

Tue, 05 May 2009 09:11:12 -0500

This home offers a rural location, yet it is conveniently located to I-75 and the historical downtown of Clarkston. The home has been well maintained by it's origianal owner. Take a virtual tour of the beautiful Clarkston home or contact Kay Pearson or Robin Cutler for your own private showing.

Clarkston Market Report for the First Quarter

Thu, 23 Apr 2009 15:19:44 -0500

Clarkston Absorption Rate Study

Wed, 22 Apr 2009 14:20:11 -0500

Absorption Rate is a method we use to determine the supply and demand for housing.

We determine the number of listings on the market within particular price brackets. We then view how many houses have sold or pended in the past three months and calculate the average per month. The number of active listings is then divided by the average sales per month to identify how many months inventory is available.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

All information included in our Absorption Rate Graphs is generated from Realcomp Inc, an area Multiple Listing Service serving Southeastern Michigan. Note that no private sales would be included in this report. All information is deemed accurate but not guaranteed.

This information is also posted by "The Pearson Group" at www.KayPearson.com

Waterford Absorption Rate Study

Wed, 22 Apr 2009 14:13:10 -0500

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

First Time Home Buyer Tax Credit

Tue, 24 Feb 2009 23:21:10 -0600

Stimulus Home Buyer Credit Toned Down to $8000!
No Repayment Provided you Stay in the Home for Three Years

First Time Homebuyers be Aware....

This new $8000 credit does not require repayment While a 0% loan is generous, an $8000 tax credit requiring no repayment plus the other incentives available make today a Great Time to Buy a Home.

Visit this Link to Q & A for the $8,000 Tax Credit

Robin Cutler and Kay Pearson
Real Estate One ~ Max Broock Realtors ~ Nettles Coastal Realty

Oakland County Homebuyer Program Available for Vacant Foreclosed Homes

Tue, 24 Feb 2009 15:04:13 -0600

Please contact us with any questions at the email address or phone number listed below.

Oakland County Homebuyer Program Available for Vacant Foreclosed Homes

Funding for the Oakland County Home Buyer Program is provided by the U.S. Department of Housing and Urban Development's (HUD) Neighborhood Stabilization Program (NSP). This one-time $17.4 million emergency funding supplements the Community Development Block Grant (CDBG) program to purchase foreclosed homes at a discount, and rehabilitate or redevelop the homes to stabilize neighborhoods impacted by foreclosure and abandonment, and reverse the decline of neighborhood housing values.

Read the entire Press Release

It's a Great time to Buy...

Homebuyers with incomes at or below 120% of Area Median Income (AMI) are eligible for assistance. For example, a family of four earning up to $83,900 per year is eligible under this program.

The Program Information and Required Documentation

Robin Cutler, robincutler@realestateone.com
phone: 248-240-5570

Commission Plans in Florida???

Thu, 29 Jan 2009 21:16:42 -0600

Hello to all Active Rainers in sunny Florida.

I want to provide a brief background on the purpose of my question rather than have you think that you have a northern transplant that thinks the sun might just shine a little bit brighter on my real estate business if I join all of you.

I have owned a place in Florida for over ten years, while I have been a licensed Realtor in Michigan for over 20 years, 14 of those years spent managing a sales team of over 50 sales associates. Of course the past three years have been strictly digging in the trenches, strictly sales. ...lots of listings, not as many sales as any of us might like.

My visits to my home in Florida have varied from 2 weeks to a month at a time throughout the year. And of course, the year of Francis, Jean, and Ivan,,who else, my partner and I were down after every storm. I have always looked forward to my future retirement of staying in Florida half the year and northern Michigan the other half. It wasn't until very recently, that some changes in our local real estate office in Florida, prompted me to jump in and start working towards my long term plan of living in Florida. The office I want to work for is in such proximity to the community, that it is the only company I want to pursue.

However.................

This is where "I need your input"

My partner and I are not superstars, we do 4 to 5 million in volume. What would be a reasonable offer a broker might make to me to start with their firm?

I know that money discussions, particularly various plans within the same office, or any place of business for that matter, should be kept confidential to avoid animosity and hard feelings. I also believe it waivers on ethics and professionalism, which is very dear to my heart as a pro standards member and mediator for our board in Michigan.

With this all said, if you would like to enlighten a "Rookie", yet not have everybody's money and commission plan opinions plastered amongst your professional blogs, I will include my email address and website below.

I have raised this question because of the response I was given after talking the the Florida manger and broker about the plan I have here in Michigan. I was told.."that's not how things are done here in Florida" I have traveled and trained with agents all across the country and I just can't believe that your state might be the only one that is still working under the plan I hired in with in 1988...start at 50% and work your way up.

Your brief responses will be greatly appreciated and I hope that nobody is offended with the request. Thank-you in advance.

Sincerely,
Kay Pearson
www.KayPearson.com
kaypearson@maxbroock.com

Clarkston Condo ~ Just Reduced

Tue, 27 Jan 2009 09:31:39 -0600

Just reduced this morning from $234,000 to $200,000. This condo was seldom ocuppied as the owner traveled for business. This builder's model had the typical upgrades you would find to show the best features available for building options. Most of the quality furnishings that were on display when the owner bought this unit could be bought, in addition to the purchase of this elegant condominium. This really could be a simple move-in situation.

It is located across the street from the new McClaren Hospital.

Robin Cutler and Kay Pearson
"The Pearson Group"

Servicing buyers and sellers throughout Southeastern Michigan

Clarkston Colonial ~ Just Listed

Wed, 21 Jan 2009 07:28:55 -0600

This Clarkston home is conveniently located to both the downtown area and the major expressways for the simple commute that is a sought advantage to Clarkston residents. The home is situated on a country size lot that is bordered by beautiful pine trees while the southern exposure provides sunlit spaces throughout the day. Please take the time to view the interior photos and features offered on this listing.

Michigan Market Update ~ December 2008

Mon, 19 Jan 2009 08:03:26 -0600

Here are the overall market stats for December along with our company numbers for the month and the entire year. Following the market, our units were up nearly 10% (to 14,934) with volume down 18% (to $1,970,938,890) for the year. For Southeast Michigan, December ended like the rest of the year, a continued settling of home values with a significant increase in the number of homes pending. It is rather remarkable that the number of homes sold and leased have continued to grow (2008 over 2007) considering the economic uncertainty that hangs over the State. Granted that increase has come from the under $100,000 home value segment (the segments above $100,000 declined in terms of units in 2008); however those sales do create additional activity. Most are first time and investor sales that have a higher turnover rate as do leases, driving the move-up price range sales as home inventories shrink. Median home values took a significant drop in 2008, falling 38%, most of that is from the shift of buyers to those lower priced homes, as opposed to value declines. The Case/Shiller numbers are a better indicator of true home value changes at around -12%.

Northwest Michigan moved in a different direction with the number of homes sales off by 20% while the average home price declined only 6%. As a positive sign For Sale inventories have begun to decline however it is logical that further price declines can be expected in northern markets as well.

Our numbers for the month and for the year are once again the best in the State.

Total Company Summary	Dec-08	Full Year 08
# of Buyers to Open Houses	573	35,614
# of Showing Appointments	8,222	211,860
# of Homes Sold/Leased	1,028	14,934
# of Web Inquires (Unique Visitors)	96,175	1,385,400
# of Mortgage/Title/Insurance Closings	375	5,634



	*Number of Homes Pending*		*Available Homes for* *Sale*
Area	Dec 07	Dec 08	% Change	Dec 07	Dec 08	% Change
Oakland County	690	994	44.1%		17,820	16,485	-7.5%
Macomb County	473	775	63.8%		7,346	8,999	22.5%
Livingston County	90	111	23.3%		2,806	2,464	-12.2%
Washtenaw County	175	177	1.1%		3,220	2,624	-18.5%
Wayne ( - Detroit & G.P.)	387	647	67.2%		8,570	8,138	-5.0%
Detroit	652	1,028	57.7%		12,407	8,543	-31.1%
Grosse Pointe(s)	50	34	-32.0%		530	683	28.9%
Northwest Michigan*	98	111	13.3%		3,876	3,884	0.2%
Total	2,615	3,877	48.3%		56,575	51,820	-8.4%


	*Median* *Sale* *Price*			*Ave Chance of Selling (in 30 days)*
Area	Dec 07	Dec 08	% Change	Dec 07	Dec 08	% Change
Oakland County	$154,200	$105,500	-31.6%		4%	6%	55.7%
Macomb County	$110,000	$66,750	-39.3%		6%	9%	33.8%
Livingston County	$175,000	$145,000	-17.1%		3%	5%	40.5%
Washtenaw County	$205,300	$140,000	-31.8%		5%	7%	24.1%
Wayne ( - Detroit)	$126,500	$72,500	-42.7%		5%	8%	76.1%
Detroit	$14,000	$7,000	-50.0%		5%	12%	129.0%
Grosse Pointe(s)	$239,500	$137,500	-42.6%		9%	5%	-47.2%
Northwest Michigan*	$141,500	$123,500	-12.7%		3%	3%	13.0%
Total	$112,440	$69,631	-38.1%		5%	7%	61.9%

Data Source: MiRealsource, Realcomp, Ann Arbor Board & BrokerMetrics
Ave Chance reflects the % chance the average home will sell in the next 30 days under the current rate of sales
* Includes Grand Traverse, Kalkaska, Antrim, Leelanau and Benzie counties, waterfront properties and vacant land

Davisburg Cape Cod

Sat, 03 Jan 2009 08:54:11 -0600

Just listed by "The Pearson Group" This home is a must see beyond the pictures we have teased you with here. The owner's custom built this home without cutting any corners on completing it with quality throughout. All 3 Full Baths feature full ceramic baths. There is granite counters in the kitchen, complete with both maple and cherry cabinets, and the upgraded stainless steel appliances are all included. The views from the wrap around covered porch and the elevation from the screened porch offer peaceful scerenity for your enjoyment of the beautiful seasons offered only in Michigan. Located in the preserved northwest corner of Oakland County. This is truly a "one of a kind" opportunity to live in a country atmosphere with all the amenities and conveniences just a short commute away.

Market Update from Southeastern Michigan

Sat, 13 Sep 2008 16:19:35 -0500

Southeastern Michigan Market Update

August followed the same trend as July and for the most part the past six months. We have seen a rising rate of sales in terms of the number of homes sold, a declining inventory of available homes, and a continued decline in home values. No new news there, except the news that the trend continues, which is a very good sign (except for the home value part, but that will begin to correct itself when inventories fall to 6-8 months). Add to that a more stable mortgage market with the bail out of Freddie and Fannie (and even a rate decline!) and you have all the ingredients for an acceleration in our recovery. Not anything earth shattering for us in Michigan, since job growth overshadows any other housing influencers, but still good news for all.

What does this good news mean for Buyers and Sellers?

For Sellers Price is still king and will be until our inventories fall from 12-18 months to 6-8 months. As we begin to move off bottom and see more good news trends one of our bigger challenges will be keeping Sellers expectations reasonable. It will be very easy for a Seller prematurely feel the good signs mean their home will sell for more. There is still a lot of market absorption left before that can happen. Although the number of homes sold should continue to rise for the balance of this year and next as well, home values will continue to fall so don't wait to sell, be aggressive, and price ahead of the market. The final option for Sellers would be to take your home off the market and wait until 2010 or beyond, when prices begin to rebound to better fit your target value needs.

For Buyers, The next three to four months will be a perfect storm of even lower interest rates and low prices. Rates should go up next year, negating any gain by waiting for lower values. If a buyer hesitates, waiting for a better price next year, they should consider moving forward with what they think will be next year's offer today. You would be amazed at what can be created in this market. Finally, it can never be said enough, when you are selling and buying in the same market, you can't loose. Your gain on the buy should always beat or at least equal the gain (or loss) on the Sale.

The Pearson Group, of Clarkston Michigan
The above summary is presented by Michigan's Largest Real Estate Broker

Lake Oakland Lakefront Home

Sat, 13 Sep 2008 13:34:40 -0500

This lakefront is beautiful on the inside. Take our tours and view the interior shots. Our seller has priced this very well considering there has been more than $100,000 in upgrades and improvements made since purchasing this home just a few years ago. Note the marble and hardwood flooring, soaring ceilings, extraordinary views and decking leading to the waters edge.

The home is located in Waterford, yet features Clarkston Schools. Great location for commuting and this home certainly meets the standard expected by lakefront enthusiasts. Take time to view on-line tours and we'll look forward to meeting you at your private showing soon.

Clarkston and Waterford Market Update ~ Fall 2008

Sat, 13 Sep 2008 13:20:39 -0500

The Pearson Group is long overdue to update those interested in what is happening to the Real Estate Market in North Oakland County, particularly in the Clarkston and Waterford Township area. Although we are posting the Market Absorption Study for both Clarkston and Waterford, we urge those interested in the the real estate market in North Oakland County, Michigan we invite to visit "The Pearson Group Website" and view the Monthly Absorption Rates for various townships.

View Clarkston Absortion Rate Graph View Waterford Absorption Rate Graph

Want to buy a "Fixer Upper" and mortgage the cost to repair it?

Sat, 29 Mar 2008 08:28:22 -0500

The FHA 203(k) Streamline Renovation Loan Program is a mortgage to consider whether you are buying a "Bank Owned" or any home that needs work. Repairs can range from minor improvements such as new appliances, paint, and carpet, to an addition, updated mechanicals, new kitchen or bath.

The purchase of a house needing repair is often a "catch 22" situation because most lenders will not lend money to buy a home until needed repairs are completed. However, the repairs typically cannot be completed until the home is purchased, so what do you do? Rose Balhorn, of John Adams Mortgage, can help! HUD's FHA 203(k) Streamline Program is the answer.

Rose Balhorn is one of very few local mortgage representatives approved to offer this, much needed, renovation loan program.

For prequalification contact:

Rose Balhorn
Branch Manager
John Adams Mortgage
31 S. Main Street, Clarkston, Michigan 48346
248-625-7065
rbalhorn@johnadamsmortgage.com

Oxford Absorption Rate Graph for February 2008

Mon, 03 Mar 2008 09:22:20 -0600

Real Estate Communities we review on a monthly basis are:
Brandon, Clarkston, Waterford, Lake Orion, Oxford, Grand Blanc, and Holly.
Absorption Rate Reports can be viewed at "The Pearson Group Website"

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

All information included in the following graph is generated from Realcomp Inc, an area Multiple Listing Service serving Southeastern Michigan. Note that no private sales would be included in this report. All information is deemed accurate but not guaranteed.

Lake Orion Absorption Rate Graph for February 2008

Mon, 03 Mar 2008 09:19:28 -0600

Real Estate Communities we review on a monthly basis are:
Brandon, Clarkston, Waterford, Lake Orion, Oxford, Grand Blanc, and Holly.
Absorption Rate Graphs can be viewed at "The Pearson Group Website"

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

Holly Absorption Rate Graph for February 2008

Mon, 03 Mar 2008 09:16:49 -0600

Real Estate Communities we review on a monthly basis are:
Brandon, Clarkston, Waterford, Lake Orion, Oxford, Grand Blanc, and Holly.
Other community reports can be viewed at "The Pearson Group Website"

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

Grand Blanc Absorption Rate Graph for February 2008

Mon, 03 Mar 2008 09:13:53 -0600

Real Estate Communities we review on a monthly basis are:
Brandon, Clarkston, Waterford, Lake Orion, Oxford, Grand Blanc, and Holly.
Community Reports can be viewed at "The Pearson Group Website"

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory

Brandon Absorption Rate Graph for February 2008

Mon, 03 Mar 2008 09:09:49 -0600

Real Estate Communities we review on a monthly basis are:
Brandon, Clarkston, Waterford, Lake Orion, Oxford, Grand Blanc, and Holly.
Various Community Reports can be viewed at "The Pearson Group Website"

Absorption Rate is a method we use to determine the supply and demand for housing.

Sellers Market - Less than 6 Months Inventory
Buyers Market - More than 6 Months Inventory
Balanced Market - 6 Months Inventory