livingston county michigan: Two Livingston County Cities Get 'Tree City USA' Designation
- 04/21/11 03:29 AM
The Arbor Day Foundation recently released its list of 2010 Tree City Awards. Howell, Michigan was named a Tree City for the 23rd straight year, and Brighton, Michigan received that honor for the ninth year in a row. Congratulations Howell and Brighton! Four standards must be attained to achieve this recognition, which is open to communities of any size. There must be a Tree Board or Department, a tree care ordinance, an Arbor Day observance and proclamation, and a community forestry program with an annual budget of at least $2 per capita. The Tree City USA (r) program is sponsored by the … (0 comments)
livingston county michigan: Existing Homes A Better Value?
- 03/30/11 07:32 AM
Good credit scores + savings for a down payment + job security = consumers that can afford to build a new home. But tighter lending guidelines are impacting even that group. Government data suggests that a new home used to cost about 15% more than a resale home, but the difference now may be closer to 48%. Blame a weak housing market, where existing homes are more affordable than they have been in a long, long time. Add in the foreclosures that lower prices even further, and the short sales that often see homes selling for as much as 10%-15% under … (4 comments)
livingston county michigan: New Construction Market
- 03/22/11 10:51 AM
I participate in, and receive a monthly survey results from Realtors across the country. This survey from Credit Suisse is a comprehensive look at various market areas. This month's report notes that the new home market is increasingly driven by buyers that are responding to "great deals, strong affordability, and the fear of higher mortgage rates." The Metro Detroit data signals that buyer traffic for new construction was short of agent's expectations, that builder incentives were rising, prices were still falling and it was taking longer to sell a home. No surprises there! There are opportunities to pick up lots or even completed … (2 comments)
livingston county michigan: Livingston County February 2011 Stats
- 03/14/11 01:41 AM
Data is from RealCompOnline and as reported by the Livingston County Association of Realtors. February 2011 showed a trend similar to January, with a reduced number of units available, 1300 for 2011 vs. 1611 for 2010 (a 19.3% drop), and a gradual increase in sold prices. The median sales price for February 2011 was $126,500 vs. February 2010's $123,599. The average sales price also saw an increase from $139,801 in 2010 to $146,596 for 2011. Year To Date as of February 2011, there were 280 total residential sales with almost 40% of them occurring in the $100,000 to $174,999 price ranges. … (0 comments)
livingston county michigan: It Is Time To Buy? - Prices Near The 'Bottom' Say Economists
- 02/01/11 01:02 AM
Yes, I know. We've been hearing inaccurate predictions about the Real Estate industry for, well, years. But this recent poll of economists seems to indicate that we're (finally!) near the bottom of the home value skid. Analyzing external influences like the homebuyer's tax credit and data from S & P's Case-Schiller Index, thirty three economists offered their views on housing prices. Most indicate that we're at a point where home prices are 'fairly valued', the report says. Fair values are important to buyers, especially first-time home buyers who are most often on tighter budgets and who are also looking at entry … (0 comments)
livingston county michigan: Eight States Running Out of Homebuyers?
- 01/20/11 02:37 AM
An article on the Yahoo Finance page, attributed to 24/7 Wall St., has identified 8 states where buyers may have gone on "strike", and coupled with the high foreclosure rate, has caused home prices to plummet. Using previously released studies and data from sources such as RealtyTrac and the S & P Case-Schiller Index, the authors reiterate claims that home prices will drop another 7%-10% this year and that it may take another four to five years for the housing market to recover. The eight states listed, in reverse order are: 8. Florida - with a vacancy rate of over 21% and … (4 comments)
livingston county michigan: General Livingston County Thoughts-Real Estate
- 10/09/09 12:53 AM
1. It's getting harder to get deals closed. I've had three deals this year where the buyer's bank folded within 5 days of closing. That means they have to get approved by another lender which is usually not a problem. But two of these three were also using the Dept of Agriculture's Rural Development Program. It's a great option for buyers that qualify based on income. 100% financing, no PMI - what a deal! But it's so popular in my area that the backlog toprocess has grown. Banks usually give you a 45 day window to close on a foreclosed property. … (0 comments)
livingston county michigan: REO Fallacies – Part 1
- 11/27/08 02:18 AM
I've been doing a lot of REO (Real Estate Owned) properties for about two years and I encounter many misconceptions by consumers - at least from my personal experiences in dealing with bank-owned (foreclosure) properties. First, the bank will take anything to dump a home. This is absolutely not true in most cases. (Of course, the borderline tear-down is an exception.) If you're offer is at 80% or less of the list price it will likely be rejected outright. If you're asking for seller contributions towards closing costs, you'd better bump that price up a bit, too. While banks don't want to … (0 comments)
livingston county michigan: Lease To Own - Is It Right For You?
- 12/17/07 03:54 AM
(c) 2007 Robert Smith There's a lot of interest from consumers about lease-to-own arrangements, sometimes called lease option financing. It's sold to consumers as an alternative method to build equity and delays a formal mortgage application for a set period of time, usually 12 to 24 months. Prospective purchasers with less than perfect credit, no downpayment, and/or high debt to income ratios are allowed to rent a property for the contracted period, usually at a higher price than market values. A portion of this higher rent goes towards the ultimate purchase price, which is often higher than market value, too. Then there's the … (0 comments)
livingston county michigan: Livingston County Market Statistics Through October 2007
- 11/25/07 08:53 AM
These figures have been reported by out Multi-List System (MLS), RealComp, and are for residential units (homes and condominiums) in Livingston County through October 2007: Total Listings 2007 2006 Difference Result 7414 7218 + 2.7% More Homes On The Market Number of Sales 2007 2006 Difference 1462 1689 - 13.4% Fewer Homes Are Selling Median Sale Price 2007 2006 Difference $200,694 $218,300 - 8.1% And They're Selling For Less Avg Days on the Market (Time to Sell) 2007 2006 Difference 148.4 137.5 - 7.9% And Taking Longer To Sell More foreclosures and short sale homes are coming onto the market every day, but this type of home is not for everyone. If you are looking for a 'move-in' condition home, your biggest … (0 comments)
livingston county michigan: Builder's Home and Garden Expo 2007
- 10/02/07 11:36 PM
The Home Builders Association of Livingston County (HBALC) will be presenting this year's Home and Garden Expo at the Brighton High School Field House on Saturday, October 6th from 10am-7pm and Sunday, October 7th from 11am-4pm. Tickets are $5 for adults, 15 and under are free. Come and browse the exhibitors to see the latest and greatest in home remodeling, home building, decor, and gardening materials and techniques. There's a full schedule of home owner seminars, too. There's great value in finding vendors for windows, roofs, tile and so much more - all under one roof. Seminars include topics on roof shingles, arsenic in … (0 comments)
The Arbor Day Foundation recently released its list of 2010 Tree City Awards. Howell, Michigan was named a Tree City for the 23rd straight year, and Brighton, Michigan received that honor for the ninth year in a row. Congratulations Howell and Brighton!
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