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Archive for the ‘Clarkston Michigan’ Category

Lake Oakland Lakefront Real Estate- Rising Prices- Low Inventory

So far there have been 4 closed sales this year on Lake Oakland in Clarkston and Waterford MI with prices ranging from $245,000-$751,871 with an average sales price of $414,218.

Last year the average sales price on Lake Oakland was $223,320 and in 2010 the average sales price was $194,677.

3 of the 4 sales this year were “normal” sales with only one bank owned home compared to last year when half the sales on lake Oakland were distressed sales and 64% of the sales in 2010 were distressed sales.

Houses are selling quickly and close to asking price. I had a buyer client get into a bidding war a couple weeks ago and our over asking price offer with a very strong buyer lost out.

There are currently 8 sales pending and 8 active listings on Lake Oakland.

For More Information About Lake Oakland

Oakland County Lakes

Search The MLS

Selling Your Lake Oakland Home

Jackie Hawley

ReMax Encore, Clarkston

Cell: 248-736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

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What Does BATVI Mean? Clarkston MI Real Estate

Simply- Buyer Agent To Verify Information.

This is also known as an ass covering, or in my opinion, a waste of precious space in the limited space allotted in the MLS.

If you are buying a Clarkston MI short sale listing, beware of listings where the listing agent fills out the listing in a shoddy manner, such as wasting space in the comments, not filling out the remarks section at all, inaccurate listing information, etc. Remember, the listing agent is the person we are relying on to complete the short sale to the banks’ and seller’s approval. If he can’t fill out the listing, how successful will his short sale negotiations be?

If you are selling a Clarkston MI home, check your MLS sheet to make sure it is complete and accurate and all 25 photos included. The MLS is in place to sell your listing to the buyers’ agents. If I am going to show 5 houses to someone and 10 show up in the MLS search, I will not show the listings that are incomplete or indicate laziness on the part of the listing agent.

Often times BATVI gets replaced by CHP or EXP (price change or expired listing).

Jackie Hawley
ReMax Encore, Clarkston
Jackie@JackieHawley.com

Cell: 248-736-6407

Marketing Your Clarkston MI Home

Choosing An Agent To Market Your Clarkston MI Home

Choosing A Buyer’s Agent

Search The MLS

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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
ReMax Encore, Clarkston MI
Jackie@JackieHawley.com
Cell: 248-736-6407
www.MiRelocation.com

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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

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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

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I want to start out by stating this post IS NOT for the potential Clarkston short sale seller. Short sales, and what I like to call a normal sale, are 2 completely different animals. Most Clarkston MI short sale sellers NEED to sell and are upside down on their mortgage. The regular seller may or may not NEED to sell but either way, they either have equity or have the money to make up the difference if they are upside down on their mortgage.

But this post is for the “regular” or “normal” Clarkston home owner who has at least been toying with the idea of selling for whatever reason.

If you have been thinking of upgrading you may be able to buy that house you couldn’t afford back in 2003 or 2004. You may be able to purchase that home you dreamed about back then for the same or less than you paid for your current home. And with current interest rates you may be able to upgrade with a lower house payment.

Other benefits to selling now:

  • Inventory is low which means a lack of competition. A good chunk of that competition are short sale listings and by virtue of the time it takes to get a short sale approved, a large portion of the buyer pool can’t even consider a short sale listing
  • Lack of new construction listings. Prices have gotten so low a builder can’t compete against existing homes.
  • Prices have gotten so low you may be able to downsize into a house for a very small or no house payment. Buying that retirement home a bit early and eliminating your house payment is about the ultimate in security
  • If you’re thinking of upgrading this may be a great time. Prices are low and whatever you may lose on the house you’re selling you can more than make up for on the other end. I have clients moving to the lake or onto acreage who never thought they would be able to live that lifestyle.

Other possibilities are to downsize and buy a second home/cottage. Or downsize and buy rentals for income purposes. I have one client who is buying small homes in the Lake Orion, Clarkston and Oxford areas and renting them out for double her house payments on those homes.

This is an economy where a lot of people are hurting beyond belief. It is also an economy where real wealth can be made.

Jackie Hawley, Realtor

ReMax Encore, Clarkston MI

Cell: (248) 736-6407

Jackie@JackieHawley.com

Search the MLS

Selling?

Buying a Foreclosure or Short Sale Listing

Clarkston MI Homes For Sale

Clarkston MI Lakefront Homes For Sale

Lake Oakland and Woodhull Lake

Lotus and Maceday Lakes

Deer Lake

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Price, Location and Exposure??? NOT!!! It’s ALL About PRICE!

If you are trying to sell your Clarkston MI home in today’s real estate market you have probably read that it’s all location location location. Or possibly price, location and exposure. That last one is one third correct. It’s all about price.

Crappy location? Location can always be compensated for by price.

Your Realtor took 1 photo and left the remarks section of the MLS listing blank? This too will reflect in the price.

Is the house difficult to show? Price will take care of that.

Does the house show poorly? Not clean or dated or delayed maintenance? This will also reflect in the price.

No matter what market we’re in, price has always been the cure all for deficiencies in a property (house, land, etc).

To get the highest price possible for your Clarkston MI home you need to call a good, full time, experienced agent to help eliminate as many deficiencies as possible.

Check Your MLS Sheet- an oldie but goodie about incomplete MLS sheets

Should You Pay For the Buyer’s Well and Septic Inspection?

Why You Should Hire Jackie Hawley to Sell Your Clarkston MI Home

What Real Estate Costs Are the Clarkston MI Seller Responsible For?

Jackie Hawley
Keller Williams Realty, Clarkston Michigan

Jackie@JackieHawley.com

cell: 248-736-6407

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