THANK YOU GENESEE COUNTY! (AND FRIENDS)

What a great summer I’ve had. How about you all? I don’t really want to see it end, but I am kind of excited to get the kids back to school and have the guidance of a more strict schedule to keep me in line. Oh let’s be honest. I am sick of these bottomless pits I have called “children” eating and dirtying up the kitchen all day. I have picked up enough socks and silly bandz to last me a lifetime! This summer for some reason was also a time of stopping and going and coming and leaving several times each day. There’s been very little sitting still or exhaling. I actually found myself day dreaming about daycare and a desk job. For about a minute! But you know what you can’t do from a desk? Show houses and sell real estate. Why is that such a big deal? Because I happen to work for the BEST REAL ESTATE COMPANY in Genesee County!

It’s true! Thanks to you our loyal friends and clients and your voting skills, we did it! Check it out if you don’t believe me! The news made my day, and continues to make me smile,  So thank you everybody who put up with my gentle reminders to vote, and took the time to do so. You rock!

Speaking of rocking & favorites & summer – Flint summer is not over yet! We barely have time to clean up and recover from Back to the Bricks (That’s my daughter and hubby in the pic in my GTO) before The CRIM FESTIVAL will be here! Are you ready?

Yep, just like our slowly recovering real estate market, I’ve managed to make some lemonade this summer and been treated to a few surprises. Hopefully you all can say the same. Tell me something about your summer. I love a good story.

Oakland County Home Prices Rising.

The average price of  a home sold in Oakland County rose 12.5% from the same period last year.

In July of 2009 1369 homes sold in Oakland County for an average sales price of $141,585. The average home was 1805 sq ft, for an average price per square foot of $78.70. There were 13 homes sold that listed for greater than $750,000.

In July of 2010 1046 homes sold in Oakland County for an average sales price of $159,320. The average home was 1885 sq ft, for an average price per square foot of $84.97. There were 15 homes sold that listed for greater than $750,000.

What is interesting is the highest end of the market, the over $750,000. I have spoken to agent across the state and they all concur that high end buyers are out there, but they are very educated, very diligent and very CASH in a lot of cases. The 13 homes listed for greater than $750,000 in Oakland County in 2009 had an average sales price of $1,070,000 and an average size of 5158 square feet (an average price per of $207) the highest priced was $2,000,000 and sold for $1,500,000.

In 2010, however, the average sales price was $893,433 and the average home was 4884 square feet (an average price per of $182). The highest listing price was $1,795,000 and that home sold for $1,275,000.

YTD on the over $750,000 listings there have been 107 sold vs. 71 in 2009. The average sales price is up a meager $6,771 dollars. The price per square foot is down $3 to $192.06. So the total sales volume of homes listed about $750,000 is up over 50% year to date.

2009:  $72,357,789

2010:  $109,984,650

How about some good real estate news, feels good.

Mood Swings, Mood Rings, Market Trends & Mortgage Tips

I’m a part time real estate agent/full time freelance writer and social media enthusiast, right? So why such low frequency posting? Because I am so busy selling! Why am I so busy selling?  Because buyers are so abundant that I can’t avoid them even with my eyes closed and running in the opposite direction!

Not that I want to, Sillies, just creating a visual.

And the buyers aren’t just out… houses are moving. Properties are closing. Even with all the changes and new regulations in the mortgage industry, business is getting done.  And I’m loving it!

In fact I am having a ball.

Hoyt has all the good statistics you know… what’s selling, who’s buying, how much they are spending as compared to this that and the other. You’ll have to talk to him about the science of it all. My thoughts on the market come from a much simpler source… my disposition.

Thank goodness a lot of my posts were lost when we switched from the old site to the new. Hm… now that I think of it… maybe they weren’t so much “lost” as “left behind.”  They were ugly, after all.  Fueled by my frustration with the changing market and the decline of being able to work with real people who were buying and selling homes. I have often said that the smiles of the parties at the closing table were equally as motivating as the checks I received. And the ebb and flow of my disposition as those smiling buyers and sellers disappeared and reappeared again,  prove it!

No need to revisit the last few years of gloom, though. The important part of the story is – fun at work has snuck up on me, like a long lost friend sneaking up behind me and covering my eyes. “Surprise! You love your job again!”  Why? Because I am dealing with people. Which I love. It’s not that I don’t like banks and investors. They are an important part of the machine, for sure! But too much of the banks & investors and not enough REAL PEOPLE upsets the energy of the real estate business.

Now for all you REAL PEOPLE buyers that I am so happy to see, here are a couple buyer financing tips…

Be honest and up front about everything when you apply for your mortgage. The blemishes are going to show up even if you don’t share them. And even the slightest embellishment is “fraud”. Scary word! Also – do your best to avoid any changes to your credit portfolio between the time you are approved and the time you close. Many lenders are now requiring a final credit pull just before closing to make sure that everything matches the information that was used in your qualification. So try to avoid a job change, applying for new credit, or increasing credit balances from the time you are approved to the time you close on your home loan.

So lucky me! The people are back and they’re buying and selling and Real estate trends run parallel with my mood trends. I think from now on I’ll pass on the real estate reports and get my market trend reports from my mood ring.

Tiny House Guy: Crazy or Genius?

Have you seen this tiny house guy, Jay Shafer? More

importantly have you seen his tiny house?! He lives, and according to him THRIVES, in a 96 square foot house that he built for himself. WHAT?!

You read me right – NINETY SIX square feet. As he says the plumbing is rough, the bathroom is challenging, and it’s tough to make the bed, but otherwise, the significant downsizing is well worth it. How significant is the downsizing? Tiny House Man Shafer grew up in 4000 square feet. He knows what he’s missing, and he says he misses nothing.

My immediate reaction was LUNATIC! Where do you….?  How do you….? Why would you…..?

Then I heard a friend’s (annoying) voice tell me I am projecting my perspective onto Shafer. I opened my mind and listened to what the Tiny House Man had to say.

The average home emits 18 tons of greenhouses gases – A tiny house is significantly more green.

Houses have been growing in size for the last 50 years, creating waste and stress – Bigger mortgages and less free time to care for and enjoy our sprawling pads. Insert any economy and real estate concerns here.

Quality over Quantity – Shafer says he couldn’t afford to put the quality materials and features in a house of more conventional size, so he decided to instead sacrifice the space.

Value – A tiny house costs more per square foot to build than a conventional home, but ends up less at the end, of course. And according to Shafer’s statistics, a 1200 SF house appreciates at a higher rate than one over 2000 SF. This is pretty consistent with what we see in traditional house pricing.

And this is what he said that REALLY got me. (The words are right, but I might not have the “quote” exactly right.) …

Excess is burden not luxury.

Now that Shafer’s married he has built a larger tiny house for his family. He believes that everyone needs their own private space and although his own needs are bare minimum, hence the rough plumbing, but he designs tiny houses based on individual needs. Do you think you could live tiny?

New Program To help homeowners avoid foreclosure

Well good morning Wednesday. I am very glad to bid Tuesday goodbye. Monday was so fun, Tuesday was bound to be a disappointment regardless of what it delivered. What it did deliver was a dead car that had to be towed and everything that comes with it. Canceled appointments and the inability to run and get lunch, or a cappuccino, or Adam Lambert’s CD that I really wanted to pick up, having been dazzled and glittered at his Monday night performance at the Chesaning Amphitheatre. There was one bright spot in Tuesday, though, that came across my desk. It looked like this…

LANSING – Governor Jennifer M. Granholm today announced that the Michigan State Housing Development Authority (MSHDA), along with banks, credit unions and nonprofit counseling agencies, will launch a statewide program to help eligible Michigan homeowners avoid foreclosure by participating in the state’s new $154.5 million Helping Hardest-Hit Homeowners Fund.

Whoa! I am loving the Governor right now! This money is part of the $1.5 billion that President Obama announced back in February would be used to fund "innovative measures to assist families in the states that have been hit hardest by the aftermath of the housing bubble."

Despite the controversy surrounding the whos, hows, and whys of the foreclosure boom, many hard working responsible home owners have been victimized. Those are the folks being targeted by this new program.

Those who may be eligible include Michigan homeowners who are currently receiving unemployment compensation, homeowners who have fallen behind in their mortgage payments or taxes due to a temporary layoff or medical emergency, and homeowners who can no longer afford their mortgage payments due to lower household income.

This is good news for all of us. Just like the big businesses whose failure would negatively impact everybody, regardless of how we felt about their financial success – the success of homeowners in keeping their homes is crucial to the repair of our economy and the wellness of our neighbors and communities.

And KUDOS to those in charge for hatching this great plan right on the heels of the Home Buyer Credit closing extension! It almost feels like someone in charge is sensible and CARES doesn’t it?

Applications just started being taken this week so keep in mind this is a new program. It’s likely to be slow and frustrating but apparently MSHDA is hiring extra help to assist in the processing of the applications. So if you are having difficulty making your payments, call your mortgage servicer right away to see if you qualify for the program. And tell everyone you know about it. It’s easy to complain and grumble about government. "Where’s MY bail out?!" Well, here’s another piece of it. It’s up to YOU (me, him, her, us) to place the call and make it happen.

Now back to Adam Lambert… I was fired for attending the concert. Do you think that’s fair?  I saw many of you, my crazy fun buyers past and present, at the show which was very cool. I’ll just keep showing up to work and see if anyone notices. Shhhh. Don’t tell.

Help For Homeowners

Michigan State Housing Authoritiy is offering help for struggling homeowners. They have announced $154.5 million dollars set aside to assist unemployed and under-employed homeowners.

Governor Granholm, MSHDA Announce Helping Hardest-Hit Homeowners Fund to Combat Foreclosure

FOR IMMEDIATE RELEASE July 7, 2010Governor Granholm, MSHDA Announce Helping Hardest-Hit Homeowners Fund to Combat ForeclosureLANSING – Governor Jennifer M. Granholm today announced that the Michigan State Housing Development Authority (MSHDA), along with banks, credit unions and nonprofit counseling agencies, will launch a statewide program to help eligible Michigan homeowners avoid foreclosure by participating in the state’s new $154.5 million Helping Hardest-Hit Homeowners Fund.Those who may be eligible include Michigan homeowners who are currently receiving unemployment compensation, homeowners who have fallen behind in their mortgage payments or taxes due to a temporary layoff or medical emergency, and homeowners who can no longer afford their mortgage payments due to lower household income.”The Helping Hardest-Hit Homeowners Fund is a helping hand to our friends and neighbors,” Granholm said. “This fund will allow families to stay in their homes and stabilize neighborhoods throughout the state. I want to thank the mortgage servicers who are teaming up with MSHDA to help us keep the dream of home ownership alive for thousands of Michigan families.” Lending institutions in support of the program include the Michigan Bankers Association, Michigan Credit Union League, and Michigan Association of Community Bankers. The Helping Hardest-Hit Homeowners Fund is designed to help as many as 17,000 Michigan homeowners avoid foreclosure, including 11,000 homeowners who are currently unemployed and struggling to pay their monthly mortgage. The Michigan State Housing Development Authority is adding additional staff to review and process completed application packages after they are submitted by mortgage servicers, announced MSHDA Interim Executive Director Gary Heidel. “We are going to distribute these funds as quickly and efficiently as possible, because we know the devastation that can come from a home foreclosure,” Heidel said. “The message we’re giving homeowners is to call their mortgage servicer immediately if they believe they are at risk of losing their home so that they can determine if they qualify for this program.” The Michigan State Housing Development Authority will begin accepting applications from mortgage loan servicers beginning July 12. Final approval of an application is expected to occur within 48 hours of receipt of a complete application package. The Michigan State Housing Development Authority anticipates it could take 12 to18 months before the state’s hardest-hit fund is entirely distributed. Eligible homeowners can obtain more information regarding the Helping Hardest-Hit Homeowners Fund by calling 866-946-7432 or visiting www.michigan.gov/HardestHit

In February, President Obama announced $1.5 billion in funding for innovative measures to assist families in the states that have been hit hardest by the aftermath of the housing bubble. The Michigan State Housing Development Authority is one of five state housing finance agencies sharing the funding.

Contact your lender or MSHDA as soon as possible for more information.

Where’s the Search Box? Bring Back The Search Box!

Good Lord! Change is good Y’all!

What’s our name? CHANGINGstreets.com. Not STAYTHESAME.com! Right? Right! We’re constantly evolving – not just changing WITH the market but AHEAD of the market. The same is true for our website. I get it – you loved our old one. So did we. But it wasn’t working for us anymore. We were limited with what we could do for you and we don’t like limits. Or being told what we can and cannot do for you. The new website gives us more freedom and gives you more services. It’s GOOD I promise!

Here’s the deal – my favorite feature of the old website was being able to simply plug in an address or partial address into the search box and being able to quickly find info on a specific property. Guess what I found out – that was your favorite feature too. Buyers, Realtors, and Loan Officers are all yelling at me. My own family is yelling at me! “I can’t find anything! I miss that search box!”

To them I say, “Hellloooo. It’s right there under your nose.”

So there’s your homepage right? Click ADVANCED SEARCH. In about the middle of that page is a little box that says “address/zip”. Plug in the address and voila! The improvement in this case, new site vs. old, is that NOW in addition to school district and area, you can search by MAP and SUBDIVISION! That’s huge!

I remember one day walking into Target and EVERYTHING was different. I was ticked! I knew Target like the back of my hand and shopped blind folded on auto pilot. The new layout made me think and I hated it. That was years ago and now I love it! I got used to the new arrangement and things make sense to me there. Oh no doubt they will eventually change again and I’ll be irritated all over again. But we will get used to it and understand it in the long run.

So stop yelling at me y’all! If there were no change, you wouldn’t be able to look at a map on our website and see all the houses for sale in a certain area. And you wouldn’t be able to buy milk and refrigerated items at Target.

What do you miss about the old site? What would you change about the new one if you had the chance?

People Moving to Oakland County

Where are the new residents of Oakland County coming from? All over the country and places your probably wouldn’t expect.  Our resident King of Useless information Buddy Kane, dropped some science on moving trends and here are the top 10 metro areas our new neighbors hail from and the number that moved to Oakland County in 2008 (Buddy is working on 2009):

1. Phoenix, Arizona 274 people, summers are much better in MI.

2. Los Angeles, California 255 people, they must like the tax situation better here…yikes.

3. Dallas, TX 246 people, Kwame told them it was cool here.

4. San Diego, California 183, I have no idea.

5. Orange County, California 153 people, the real housewife’s made them do it.

6. Las Vegas, Nevada 125 people. All I can think of is the picture of James Dean, Marilyn Monroe and whoever else it was at the soda counter…

7. Atlanta, Georgia 83 people. I get this, one word FREAKIN”TRAFFIC!

8. Charlotte, North Carolina 81 people. The South.

9. Fairfax Virgina 79 people. Military?

10. Memphis, Tennessee 70 people. Did you know that Memphis is in Shelby County and that Shelby County Tennessee is named after a Governor from Kentucky?

11. Honolulu, Hawaii 65 people. ” What Bro, I can buy a house for $70,000. Aloha”

Most lists go to ten, ours goes to 11. That is the way we roll at ChangingStreets.com, we even do useless information better than the other guys.

Maui May Sales Stats

The Realtors Association of Maui released May statistics last week and results seem to run right in line with our Maui Agent Bob McCollor was recently predicting.

The number of units sold in Maui for May 2010 made a strong jump from May of 2009.  However, as we mentioned before, the Hawaii market has seen a rise in foreclosures which means many of these homes being sold are at significantly reduced prices.

Typically in a recovery phase of any real estate market, the number of sales increases before the prices start to come up. That only makes sense since the low prices from bank owned foreclosures and aggressive, motivated sellers is what causes the resurgence is home buying.  In Maui’s case that added up to a 49% increase in the number of single family homes sold, with a 9% decrease in the median sales price.

What does this mean for Maui Buyers and Sellers?

If you’re a seller and you don’t really NEED to sell – now is not the time to be on the market. Unless you are willing and able to compete with the low price and high quality that is abundant in the market right now, you need to be realistic about your very low chances of selling.  On the flipside, properties priced and presented properly are looking at only about 132 days on the market.  That figure includes a high number of short sales whose extended negotiation and closing times make that days on market average look even longer than it is.

For buyers it means BUY NOW.  The inventory is abundant, high quality, and priced nice.  But as the amount of property sold continues to rise, eventually so will the interest rates and prices and we’ll be kicking ourselves saying, "Can you believe what we could have gotten that for 2 years ago?!"

Hot Deals and Cool Rates Make Now the Time to Buy In Hawaii

There have been signs of the economy slowly coming back to life. We’ve seen good some good things happening in our own neighborhoods. I know that the real estate market operates in cycles and that things will eventually be good again. But STILL I am surprised when I see big things happening.

Contemplating my trip last week to Mackinac Island I really had prepped myself for some sadness. Like all the stores that have closed down in Courtland Center, I was sure I was going to see some signs of failing commerce. I didn’t really expect to see the windows boarded up at Ryba’s Fudge Shop, but I knew there’d be something. I was wrong. What I found was all new residential housing going up! Big beautiful estates and charming upscale neighborhoods. The clear cutting of the trees disturbed me, I admit, but those feelings were trumped by joy that money was being invested in Michigan by investors and spent by buyers scooping those properties up. People are getting comfy with their money again and not afraid to spend it.

This isn’t just happening in Michigan, though, nationally we’re seeing increased consumer spending and dips in foreclosure. I said “nationally” but guess what state actually saw an increase in foreclosures last month. HAWAII! I know, can you believe it?

So I talked to my friend Bob who has been involved in Hawaii real estate for over thirty years and he explained that it takes awhile for trends to make it to the Islands, and that they are just now experiencing what the rest of us are finally starting to recover from.

“In 30 years I believe this is the fifth downturn I’ve gone thru here in Hawaii.  When a recession hits, Hawaii is the last to feel it and the last to recover – economic changes always seem to move westward.  So for foreign Buyers and Buyers on the mainland, this is good news because they can start to experience the recovery on the mainland and still be able to take advantage of our lower market values here.”

Makes sense. As our ability to spend is rising, so are the prices of the homes for sale. But in Hawaii, and other areas just now starting to decline, the prices are actually going lower, making it a good time to invest in those areas.

With interest rates in Hawaii at 4.71% for a 30 year mortgage and foreclosures there on the rise, there are incredible opportunities for second homes and investment properties to be had. Can you think of a better place than Hawaii to invest in a vacation home?

If you would like more information on the Hawaii market you can call Bob McCollor @ 808.283.8137 or browse the inventory here.

Next Page »