Clarkston MI Home Sales Up- AGAIN!! Can we stop calling this a declining market?

Clarkston MI Home Sales Up- AGAIN!! Can we stop calling this a declining market?

I’ve been hearing on the news lately how foreclosure filings are up in the Detroit area. I wish the media would separate Oakland County from the Detroit area. What exactly is the “Detroit Area” anyway? When listening to the news it seems to range from anywhere in Southeast Michigan to all of Michigan. Sometimes I think they just make stuff up.

The “true” housing stats are as follows- at least for the Clarkston area.

Sales are up from last year. Sales are up from 2010 and 2009.

The first quarter sales for the “Clarkston area” which I define by searching the MLS for Clarkston schools with sales over $10,000 to weed out the lease sales are as follows:

2012: 129 units sold 2011: 101 units sold 2010: 106 units sold 2009: 65 units sold

The average sales price in 2012 was $180,975 The average sales price in 2011 was $178,612 The average sales price in 2010 was $170,918 The average sales price in 2009 was $164,820

The amount of bank owned sales and short sales were about the same each year but considering the total unit sales have been up, the per cent of distressed sales are down. The average sales price for the distressed sales are also down.

In 2012 bank owned sales made up 33% of the total sales and short sales made up 16% of the total sales. In 2011 bank owned sales made up 47% of the total sales and short sales made up 23% of the total sales.

The average sales price of the bank owned sale in 2012 was down to $97,745 opposed to $134,139 in 2011.

As of yesterday (May1) there were only 164 active listings in the Clarkston school district. On Jan 5, 2009 there were 359 active listings in the Clarkston school district.

So basically unit sales are up 22% from last year and up 50% from 2009. The average sales price is up 1.3% from last year and up 9% from 2009. Distressed sales are down from last year and there is a huge shortage of homes for sale. Cash sales made up 23% of the total sales in the first quarter of 2012 and 9% of non-distressed sales were cash sales.

Thinking of selling? This is a great time- we have buyers and no houses to sell them. I’ve been showing a LOT of crap. Just because the inventory is low does NOT mean you can ask any price. Properly priced homes sell quickly – the trick is to price in a manner that you can get top dollar for this market and still sell quickly.

If you are thinking of selling your Clarkston MI home, please don’t hesitate to call.

Marketing Your Home

Why Choose Me to Sell Your Home

Preparing Your Home for Sale

Jackie Hawley
Keller Williams Realty
Jackie@JackieHawley.com
Cell: 248-736-6407
www.MiRelocation.com

If Your Short Sale Agent Has A 90%+ Success Rate, Are They Really Looking Out For Your Best Interests?

If Your Short Sale Agent Has A 90%+ Success Rate, Are They Really Looking Out For Your Best Interests?

It seems like every broker has one- a “company” or “group” who will handle short sales for their agents’ clients. I’m contacted a couple times a week with the common pitch: “All you have to do is list them and we take care of the rest. We have a 90% (or 95% or 98%) success rate. We are the best thing since sliced bread and it’s easy money for you! It’s a WIN-WIN.”

First, I hate the term win-win.

Second, if a short sale company has a 90% or better success rate are they (and by extension YOU) really looking out for the best interest of your seller. Your client. You know- the person whose best interests you are supposed to be looking out for.

Are these companies claiming they NEVER have a listing that sells at sheriff’s sale for the mortgage amount or more, relieving the seller of the deficiency? 90% or more of the time they get all deficiencies forgiven? Are we as agents just looking for an easy way to make money and to hell with our sellers- our clients, the people we are supposed to represent?

Is a Short Sale the Right Course of Action for You?

Sellers- The Short Sale is Subject to YOUR Approval Too

Why I Don’t List Short Sales

Jackie Hawley
Keller Williams Realty

Cell: (248) 736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

North Oakland County Homes- The Faster They Sell The Higher They Sell For

North Oakland County Homes- The Faster They Sell The Higher They Sell For

The quick sales tend to be the appraisals I sweat out the most. A well priced house will sell quickly. The best prices I’ve gotten for sellers have been the quickest sales.

Last year I listed a 4 bedroom colonial in Wyngate, Clarkston MI. It was the highest priced sale in the sub in 2011- the highest price since Sept 2010. We got 2 offers the first weekend and took the cash offer so we wouldn’t have to worry about an appraisal.

We listed a house in Stonegate, Clarkston MI, Springfield Township last year and priced it on the high side. It sold in the first week and was the highest sale since May 2008, and the first time that sub sold for above $300K since June 2008. It paved the way for other sales. 2 other homes sold for over $300,000 shortly after ours sold.

I had a listing in Waldon Creek, Clarkston. I put into the MLS on a Friday night before a blizzard, and that house still had 13 or 14 showings that weekend and 4 offers. Again, we got top dollar for the neighborhood.

I just listed a 4 bedroom colonial in Paint Creek Ridge in Lake Orion and I expect the same results as above.

There is a shortage of nice homes for sale in North Oakland County and when a good listing hits the market, it sells quickly and a bit high. Multiple offers and quick sales are common on nice, undistressed properties that are properly priced. And they tend to sell a bit on the high side.

Right now the inventory is low in North Oakland County- about a 3 to 4 month supply depending on where you are. And a large percentage of what is on the market is nasty, or over priced, or both…

If you’re selling, it is important to list with an agent with the experience and market knowledge to price your house so it sells quickly and for the highest possible price. There’s a fine line between pricing to get a sale price a bit on the high side, and overpricing a home. There are ways to keep a sale together if you sell your house for a bit over appraised value. And as I’ve written before, there is a difference between appraised value and market value.

I have a track record of getting top dollar for my listings and smooth closings. If you are considering selling your North Oakland County home please don’t hesitate to contact me.

Jackie Hawley
(248) 736-6407
Jackie@JackieHawley.com

What if the Appraisal is Low?

Price, Location, Exposure?? – It’s All In The Price

Why List With Me

Marketing Your Home

What Sets Me Apart From Other Southeast Michigan Listing Agents?

What Sets Me Apart From Other Southeast Michigan Listing Agents?

I’ve been showing houses quite a bit lately and have noticed some disturbing trends. Many of these trends are confined to foreclosure listings; or at least I thought the incomplete listings with no yard sign out front and no electricity on in the house was a foreclosure issue. Many of these foreclosure agents never even see the house, so I guess that can be their excuse. But other agents have been following suit. I guess in their minds good service is graded on a curve and as long as foreclosure agents behave like secretaries for the bank, most of the rest seem to fee the need to imitate.

I showed a house last night, after dark, and was surprised to find no electricity on in the house. I called the listing office and set the appointment with a member of the listing agent’s team. You would think she could have told me we would be looking with flash lights, and I would have thanked her and rescheduled for the weekend during the day.

I’m showing a house tomorrow to the same couple. When I pulled the aerial today I was pleasantly surprised to find it’s a lakefront home. The listing never mentioned that it’s on the water. Good for us on the buyer side, but not so good for the seller.

Non foreclosure agents are starting to fill both the agent remarks and buyer remarks on the MLS sheet with showing instructions and ass covering statements such as “buyer or buyer’s agent to verify taxes, sq. footage, etc.” Or BATVI – buyer agent to verify information. DUH! The MLS is supposed to “sell” the house- to entice buyer’s agents to show the listing.

Sometimes the agent remarks are left blank and even on occasion the public remarks are blank. I showed a house with central air that was not included in the MLS. I showed a house today with lake privileges and a subdivision beach and the water name search field was left blank. 20% of the lake front listings in this North Oakland County area also leave the water name search field blank so their listings won’t come up if I am searching for houses on a specific lake.

A while back I was showing houses on acreage and over a third of the listings left the acre search field blank. I’ve shown 2 houses in the past week or so where the listing agent missed a bathroom. And it goes on and on.

I don’t know what has happened to customer service. If a listing agent can’t/won’t fill out a listing completely, how are they going to handle the rest of the transaction? If the incomplete listing is a short sale will the listing agent be able to, or willing to, send everything the lien holders ask for in a timely fashion? I highly doubt it if they can’t even fill in a lake name or check the central air box.

As real estate agents we are dealing with hundreds of thousands of other people’s dollars and we should take that commitment seriously.

One thing I can promise is if you list your Southeast Michigan home with me, your listing will be completely and accurately filled out. You will have the maximum number of photos allowed and a virtual tour (unless your house is a pig sty- no need of scaring off buyers!). You will have a sign in your yard unless otherwise requested and if you don’t have the electricity turned on in the house you can find another agent. I list homes to sell and I sell them at the highest price possible. I will communicate with you throughout- from the time you sign the listing agreement until the sale closes.

I take my job seriously. We like to call ourselves professionals and should behave in a professional manner. Our listings are our face to the public and those listings should represent the home better than those on for sale by owner web sites.

Why You Should Choose Jackie Hawley To Sell You Home

Marketing Your Southeast Michigan Home

Preparing Your Southeast Michigan Home For Sale

Home Evaluation (CMA)

Jackie Hawley, Realtor
Keller Williams Realty, Clarkston
Cell: (248) 736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

Rolling Meadows, Lake Orion MI Market Conditions- Good News If You’re Selling

Rolling Meadows, Lake Orion MI Market Conditions- Good News If You’re Selling

Great news for homeowners in Rolling Meadows in Lake Orion Michigan. The median sales price is up for the 2nd year in a row! We’re still a long ways from the peak times, but better than 2009 or 2010.

Median Sales Price:

2011- 13 units at $228,000 2010- 14 units at $213,500 2009- 16 units at $210,000

There were no bank owned sales in 2011 and only 2 short sales.

The lowest sales price was higher each year than the previous year as well as the top end price was higher each year than the previous year.

2011 sale prices ranged from $194,000 – $265,000 2010 sale prices ranged from $164,505 – $237,000 2009 sale prices ranged from $153,000 – $247,000

12 of the homes sold within 26 days on the market and 1 house took 71 days to sell. I define days on the market as time from the last price change (if any) until pending. Overpriced houses aren’t really on the market. Properly priced homes sell since the time frames to sell in Rolling Meadows are about the same as the rest of the areas.

There were 4 homes financed through FHA and 9 utilized conventional mortgage financing. Most of the homes that sold in Rolling Meadows sold within about 5% of asking price. 1 house sold for 2 1/2% over asking price and 1 home sold at asking price.

2 houses in Rolling Meadows leased in 2011 at $1950/month and $2000/month (reported by Realcomp II MLS).

If you are considering selling your Rolling Meadows home, you may have more equity than you expected. Or getting closer to having equity again!

If you are thinking about buying in Rolling Meadows you need to call or email me so I can get listings to you the day they hit the market. Prices are up 6 1/2% from 2010 and up 8% from 2009. You still get a lot of house for the money and with interest rates so low buying in Rolling Meadows is still a bargain.

Rolling Meadows is a 265 home subdivision located just north of the I-75 and Baldwin Rd exit in Lake Orion MI. Homes were built in the mid 90′s and range from approximately 2000 sq. ft. to approximately 2800 sq. ft. Rolling Meadows boasts city water and sewer, sidewalks, subdivision tennis courts and swimming pool as well as a community club house.

For More About Rolling Meadows

Search The MLS

Homes For Sale In Lake Orion MI

Lakefront Homes For Sale In Lake Orion MI

Jackie Hawley
Keller Williams Realty, Clarkston MI
Cell: (248) 736-6407
Jackie@JackieHawley.com

Marketing

Why List With Me

Preparing The Home For Sale

Seller’s Toolkit

Seller Report

Home Evaluation

Why I don’t List Short Sale Listings

Why I don’t List Short Sale Listings

The title is off a little- if you are a past client or a friend I will consider taking your short sale listing, but you have to play by my rules- no exception. And those rules will be the topic of another post. For the most part I will turn away a listing if it needs to get short sale approval in order to close.

My reasons have nothing to do with morals or any personal feelings I may have toward someone who has to go through a short sale. I will be the last person you find who will pass judgment on your decision to short sell. I just plain HATE dealing with short sales. I’m good at it (I have listed a few- that’s how I know I hate them). I understand the process and am good at negotiating away your deficiency. I just don’t like them.

I don’t like the high failure rate. I would say at least 1/3 of short sale listings that go pending die. They may sell with the second or third buyer. They may go into foreclosure. But MY  business plan doesn’t call for that high of a failure rate.

I don’t like all the hoops the lenders make us jump through. I don’t like re-sending the same paper work over and over. I don’t like the like waiting for months until I get to actually talk to a human being.

I don’t like the fact that the lenders think they have the right to interfere with  my contract with the seller and dictate a change in commission. Why should a short sale seller pay a lower commission than my regular sellers?

I don’t like dealing with uneducated buyer’s agents who think their buyers can walk before the short sale has been approved or denied. They sometimes forget their buyer signed a contract and are committed to this sale like any other- read the contracts and addenda!

When I’ve listed short sales in the past I felt more like an admin person for the bank- not a real estate sales professional. The time invested in properly servicing a short sale listing is too intensive for the failure rate and pay and that is time taken away from servicing my buyers and normal listings.

If you are considering selling your North Oakland County or Lapeer County home and you won’t have to go the short sale route, please don’t hesitate to contact me.

Marketing Your Non Distressed Home

Why You Should List With Me

Preparing Your Home For Sale

Jackie Hawley
Keller Williams Realty, Clarkston
Cell: (248) 736-6407
Jackie@JackieHawley.com

Clarkston MI Home Sales Are Up- AGAIN!!

Clarkston MI Home Sales Are Up- AGAIN!!

2011 home sales in Clarkston MI were up in units, average sales price and total dollar volume from 2010. And 2010 was better than 2009. Is this a trend? Will 2012 be a better year than 2011? If you were waiting until the market hit rock bottom to buy, you may want to consider hopping off that fence. Inventory is low and you need to be ready when “that” house hits the market. Interest rates are also low. The annual average interest rate on a 30 year fixed mortgage was 4.45% paying .7 of a point. Almost a percent and a half lower than the hey days of 2003-2004-2005.

Some interesting facts:

• 419 closed sales in 2011
• 416 closed sales in 2010
• 353 closed sales in 2009

That’s 16% increase in unit sales from 2009.

Average Sales Price:

• 2011- $193,935
• 2010- $188,712
• 2009- $176,611

The average sales price in 2011 was 2.7% higher than in 2010 and 8.9% from 2009.

Part of this is due to the decline in distressed sales. In 2011 foreclosure sales made up 32% of the total sales. In 2010 they made up 37% of the total sales. Short sales made up a total of 18% of the total sales in 2011 and 22% of the total sales in 2010. In short- distressed sales were just under 60% in 2010 and just under 50% in 2011.

Total Dollar Volume:

• 2011- $81,258,650
• 2010- $78,504,030
• 2009- $62,343,820

That’s a 3.4% increase in total dollars from 2010 and a 23% increase from 2009.

Cash sales made up 19% of all total sales in 2011, 32% of bank owned sales, 18% of short sales, 11% of regular or non-distressed sales.

Houses in general sold within 4% of asking price on average. Bank owned homes sold within 1% of asking price and short sales sold within 3 1/2% of asking price.

Search the MLS

Clarkston MI Homes For Sale

Writing The Offer

Financing

Choosing a Buyer’s Agent

Jackie Hawley
Keller Williams Realty, Clarkston MI

Jackie@JackieHawley.com

Cell: (248) 736-6407