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Ann Arbor Michigan and Washtenaw County June Market Data

By
Real Estate Broker/Owner with Missy Caulk TEAM

Ann Arbor and all of Washtenaw County continues to feel the effects of the Pfizer move to Conn. These homes are so undervalued that buyers are snapping them up quickly. For instance, I have a transaction closing in August that the sellers paid 525,000 for last year and we are closing at 425,000. That is a great opportunity for my buyers and many other home buyers in Washtenaw County.

 The effects of this will take years to overcome and eventually these will be sold and off the market. Then sellers in those neighborhoods will be looking at appraisals coming in low and most appraisers will not know that it was a Pfizer Relocation house. We Realtors will have to be on our toes to be able to show the appraisers that because it was such a low sales price, the sellers were actually able to get back at up to 100,000. in their " loss on sale" clause.

Pfizer is offering their employees up to 100,000 loss on sale as an incentive to relocate. So ultimately the sellers did not lose anything. Prudential Relocation does not want these homes in their inventory so they are being dumped at incredible values.

 Average List Price                                         Average Sale Price

June dataJune

 List vs Sales Price

June  All data is compiled by a great company Big House Data, located in Ann Arbor Michigan, aka, our very own Todd Waller. The static's are compliled from the MLS data from the Ann Arbor Area Board of Realtors.

I send out a a 10 page report monthly to my sellers each for condo's residential, and Washtenaw County. In any market but especially one that is slow and homes are staying on the market a long time, it is important to keep your sellers informed.

Sellers will tend to think it is "just their house" or worse yet " your not doing your job" in getting it sold.

The market is what the market is, we as professionals can't control the market, but we do have a responsibility to keep our sellers up to date on the conditons of that market. The biggest complaint I get when I am the 2nd Realtor in to list a home is that the sellers feel their Realtor never called them or kept them up to date.

How do you stay in touch with your clients ? Weekly, Monthly? What kind of things do you do ?

Find current Ann Arbor Real Estate Market reports

Posted by

 

Missy Caulk, Ann Arbor Realtor

Missy Caulk, Broker/Owner of Savvy Realty Group can be reached at 734-926-9797 or email: Missy@MissyCaulk.com

Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

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Comments (17)

Stephanie Edwards-Musa
thredUP.com - The Woodlands, TX
knitwit at thred UP
Missy, these are amazing graphs.  I have a lot to learn. 
Jul 19, 2007 10:36 AM
Cyndee Haydon
Charles Rutenberg Realty - Clearwater, FL
727-710-8035 Clearwater, Beach Short Sales Luxury Condos &Homes
Missy - great job - You  know I'm a big fan of graphs and these are awesome. Hope everything went well there with your family.  
Jul 19, 2007 11:02 AM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Missy--What an awesome time to be a buyer! Sounds like their are great values. I agree that it is so important to keep clients informed in a changing market. They might not like the numbers but will not be able to sell the home if overpriced.
Jul 19, 2007 11:53 AM
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL

Wow!!  Can you tell me "HOW" you made those graphs?!? 

I stay in touch with my clients a minimum of once per month...some twice!

Jul 19, 2007 12:24 PM
Paula Henry
Home to Indy Team @ HomeSmart Realty Group - Avon, IN
Realtor - Indianapolis Real Estate - 317-605-4174

Missy - It will take some diligence on the part of agents to know which of these homes were Pfizer homes.

Your graphs are awesome - I looked up the company to see if they offer this data for Indy and they don't. I stay in touch with newsletters and market updates, just no graphs :(

Jul 19, 2007 01:00 PM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Stephanie, trust me I don't do the graphs, Todd Wallers company does them.

Cyndee, Allyssa is doing much better tonight.

Teri, the graphs and numbers are what I go over in my pre-list appointments. You can't fight numbers !

Susie, contact ToddWaller@BigHouseData.com

Paula, if you can get you data, Todd might be able to work something out.

Jul 19, 2007 03:01 PM
Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity

Missy,

Very nice post with excellent graphics.  Thanks for reminding us of the importance of client contact.

Fran

Jul 19, 2007 04:40 PM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Missy,

The big corporate moves usually have such a negative economic impact on an area and sometimes it takes year to recovery.  Glad to see you are thinking about how to deal with the appraisers in the future regarding these relo homes.  I communicate with my seller based on their needs, some twice a month others twice a week.  I email reports which includes all sorts of stats.

Jul 19, 2007 04:53 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon
great graphis and so professional looking.... great job
Jul 19, 2007 05:47 PM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Fran, client's love to hear from it. But, it is so hard to call, when nothing is happening on their home.

Jennifer, thanks for sharing what you do.

Thesa, :)

Jul 19, 2007 11:07 PM
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate

Missy, I do hate that, well...nothing's happening call.  I send them market reports and call them periodically when another house goes on the market similar to theirs.  Seinding them their competition at least once a month is an effective tool as well.

Sounds like there are some real bargains to be had in Ann Arbor currently!  I can't imagine having to sell a house for $100K less than the price I paid!!!  OUCH!

Jul 20, 2007 01:34 AM
Todd Waller
Berkshire Hathaway HomeServices Snyder & Company, REALTORS - Ann Arbor, MI
Todd Waller | Real Simple Real Estate

Whoa!

Missy, thanks for the plug for Big House Data!  

I would recommend talking to my business partner, Dave.  He can be reached at dave[at]bighousedata.com.  We are currently focused on Washtenaw County in Michigan, and are looking to expand.  So, let's talk!

Thanks for the kind words regarding the charts!

Jul 20, 2007 03:59 AM
Terry Lynch
LAR Notary and Closing Services - Saint Clair Shores, MI

Missy

I think you have to touch base once a week, even if you just mail or email. 

As to the Pfizer homes, it sounds like there will be so many it really wont matter if a sale is a Pfizer or not. They will all be affected eventually. 

Still praying for your daughter.


Jul 20, 2007 05:05 AM
Rita Taylor
None - Sanford, NC
Sanford NC Real Estate - Homes for Sale in Sanford North Carolina

Missy,

What are sellers who don't have the Pfizer plan doing?  It has to be hard on those who need to move but don't work for Pfizer. 

Jul 20, 2007 11:26 AM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Todd, your the best !!

Terry, thanks for still praying.

Rita, it is soooooooooooooo hard for the sellers who aren't Pfizer employees and will be for many years.

Jul 20, 2007 02:20 PM
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Missy, this was a very interesting post. Todd's graphics are fantastic.  They really make the case very clearly about what is happening in the market.  Over here in Grand Rapids, we're seeing significant discounts, but not at the level you are describing here.  I am bookmarking this post.  Thanks.

*Also, very thankful to hear Allysa is doing better.  We continue to pray for complete healing.

Jul 21, 2007 04:53 AM
Anonymous
STAN
They might be "AMAZING GRAPHS" but how about a link to make them big enough to see. Worthless if the data points are unreadable.
Dec 26, 2007 08:57 AM
#17