real estate market: Detroit Area Stats Show Promise
- 02/02/10 12:37 AM
Every month I review statistics for the Detroit and surrounding areas. The trend over the last years has been positive. Inventory levels have remained even or have dropped. What does this mean to the consumer? If you look at the Real Estate Market's indicators, inventory levels are a leading indicator. They're the first things to point out a market trend or direction. Everyone focuses on prices but prices almost always lag behind inventory. Here's an Excel sheet I've used to measure market inventory. Rule of thumb is that 4-6 months of inventory is a normal market. If there is more inventory … (3 comments)
real estate market: Out of My Friday Moanin' Mind; The Power of Process
- 01/08/10 01:56 AM
Last night The Alabama Crimson Tide became the champions of college football. They deserved to win. they played better than Texas so win they did. Living in Michigan I am familiar with Coach Nick Saban, who used to coach Michigan State. I new he was a good coach. he had success here in Michigan, success at LSU and now at Alabama. I also new he preached a certain philosophy: It's not the result, it's the process!
We in Real Estate could use that lesson. So often we focus on our goals but not on the process to achieve those goals. … (2 comments)
real estate market: Southeast Michigan Is On the Rise
- 01/07/10 01:40 AM
More than likely the only thing you've heard about Detroit in the last few days is that someone tried to blow up a plane over the city. Oh, and maybe about our winning sports teams. The Lions won so much that they took themselves out of the chance to draft Ndamukong Su. They have to settle for the second pick in the draft. But I digress. Ahhem! The Detroit area really does have some thing to smile about. Our inventory is lower than it's been for a long time. What? You're not sure how that's good news? O.k., let's go over … (0 comments)
real estate market: Great Article on Holiday Safety
- 12/14/09 02:14 AM
Hey everyone, I came across this article that Pat Curry wrote for HouseLogic. I thought it would be good to pass it on to clients. Feel free to use it as Houselogic allows Realtors to repost their content.
Have a safe and Merry Christmas
Holiday Fire Safety Tips Article From HouseLogic.com
By: Pat CurryPublished: November 18, 2009
The holiday season is one of the most dangerous times of the year for household fires, so take note of these tips to reduce your risk.
Residential fires during the holiday season are more frequent, more costly, and more deadly … (2 comments)
real estate market: We're running Out of Homes to Sell?
- 12/02/09 06:05 AM
Today in an office meeting my broker said something crazier than usual. He said that we were actually running out of inventory. Believe me, I haven't heard a statement like that for a while. Here in Southeast Michigan we,ve had a pretty rough time of it. We started the housing recession before the rest of the country. I'm not convinced that first in means first out but any ray of sunshine is warm on could winters day. If we go by the premise that 6 months of inventory is a "normal market" then anything above 6months would constitute a buyers market. More … (2 comments)
real estate market: Did Wrong Actions Lengthen the Housing Crisis?
- 11/20/09 02:27 AM
I saw an interesting segment on Fox and Friends this morning. I know, this isn't the hardest hitting news show on T.V. but once in a while they come up with something good. John Geanakopolos, Economics professor at Yale University talked about how reducing interest rates for existing mortgages had little or no effect on the mousing crisis. His idea is that banks should lower the principle to incentivise homeowners to stay. In a nutshell, a home worth 160,000.00 is now worth 100,00.00. The home goes into foreclosure, takes 18 months or so to be sold again, is torn up and … (1 comments)
real estate market: REO AGENTS are ^%$&-#&%^&*@, &%^%$%-&*%@&!%, $@%$!#@s
- 10/16/09 05:02 AM
O.K. maybe not all of them. There is an agent in my office who does a lot of bank owned transactions and she's upright, honest and helpful. I can think of two or three others around the Western Wayne, Oakland County area of Southeast mi that are the same way. Isn't that sad? Only a handful of agents who do work for the banks are actually solid, honest agents. The rest are, in my opinion, well....read the title again. Someone may be upset by this post. If you are, you can reply with a disagreement as long as it's a cogent argument … (4 comments)
real estate market: Out Of My Friday Moanin' Mind
- 08/07/09 06:07 AM
It may be afternoon by the time you get this but I did start it in the morning. That counts, doesn't it? Just some general and random musings on the week that was. And away we go... Full Disclosure Politically I've voted for Democrats, Republicans, Libertarians (there was that "leave me alone" period) and Independents. I try to look for someone who at least, seems honest, has his/her country, state, city's interests at heart and will look me in the eye. If someone meets those qualifications, they have a fighting chance. That being said, very few in office would get my … (7 comments)
real estate market: Moday Moanin Market Update - Good News!
- 06/08/09 06:21 AM
As Steve Earle blasts on my speakers I sit here at my desk with a bit of optimism. "How can that be?" you say, "You live in the Detroit area. GM just declared bankruptcy, Chrysler may be an Italian company by now and if the job rates in the rest of the country are bad, Michigan is worse." If I looked at things that way I could be pretty depressed. Instead I took a look at the market and strangely enough, there was some good news. Detroit is showing a 4 month supply of homes. Three of the larger surrounding communities had … (0 comments)
real estate market: Hey WE Screwed Up, Give Me More Money
- 03/24/09 04:49 AM
I just finished watching the committee hearings with Treasury secretary Tim Geithner. Before anyone wonders why I'm home and not out selling Real Estate let me explain. I had that "O.k. now your 50" test. Enough said. The thing that stuck out to me was that Geithner was asking congress to increase his powers so he could deal with problems like AIG. If you missed my post on that yesterday, here's the link. http://activerain.com/blogsview/998412/Monday-moanin-Market-Update-Congress-Fiddles-While-Rome-Burns If I were more of a conspiracy theorist, which I most hotly deny, I would say that this ws all set up to increase the power of … (0 comments)
real estate market: Monday moanin' Market Update: Congress Fiddles While Rome Burns
- 03/23/09 10:26 AM
Much like the Roman emperor who supposedly played his violin while his city burned, Congress has found just as a creative way to avoid responsibility, accountability or anything else closely resembling adult behavior. While Nero found a scapegoat in the form of Christians, Congress has found an enemy just as dangerous. the foe is AIG and the crime is paying contractual, if undeserved, bonuses. The trouble is that the bonuses were paid with taxpayer mmoney. Congress maintains that it's not the purview of a giant insurance company to steal money from taxpayers. That's specifically Congress' job. And like any Mafioso family … (0 comments)
real estate market: Monday Moanin' Market Update: Obama and Nancy, Together Again
- 03/09/09 05:36 AM
Well, if you're still bleary eyed from the lack of sleep with Daylight Savings Time, you may have missed the news that Congress passed the "Making Home Affordable Program" which was created to help as many as 7-9 million people who are making every effort to remain current on their mortgage payments. What do you mean you didn't know it was daylight savings time already? That could explain why your kid was late for school and you missed a big showing appointment. Bit I digress. There are basically two parts to the plan. One part is to help homeowners with good payment … (0 comments)
Every month I review statistics for the Detroit and surrounding areas. The trend over the last years has been positive. Inventory levels have remained even or have dropped. What does this mean to the consumer?;)
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