CENTURY 21 Town & Country Real Estate Best of the Best.

What could be better than winning 2 Cadillac CTSs?

Answer: helping people with disabilities lead more independent lives.

Tickets are $50 each.
Only 5,000 tickets will be sold.
Winning ticket will be drawn.
September 26, 2009, 2 PM.

Click To Buy Tickets

Click To Buy Tickets

Check it out at the 2:00 minute mark in this video:

Housing Market Bottom?

Are you a buyer waiting for the “right time to buy” ?  Well, that would be NOW!

Do not become obsessed with trying to time the bottom of the market so you can get the best deal.  In my 38 years as a broker, I have observed that we never really can identify the bottom of a market cycle until we are already on the upswing.

I offer these observances:

There is huge, pent-up demand for housing, we are entering a spring market, interest rates are still very low and sellers “get it” that their asking prices must be very competitive.

Our showing appointments have increased dramatically in the last few weeks and some properties are receiving multiple offers and selling for more than list price.  The overall activity in the market has increased with an upbeat attitude.

Once the mortgage/credit/qualifying standards relax a bit (and they will) and more approved buyers enter the marketplace, home prices will rise.

I strongly believe we are on the road to a real estate recovery, and if you have any thoughts a buying a home this year, NOW IS THE TIME!

You’re not alone in your curiosity regarding home remodeling projects and the subsequent value that they may or may not add to the re-sale value of your home.  That’s why Remodeling magazine in cooperation with REALTOR® magazine produces an annual report describing the average cost recouped for 30 of the most popular home improvement projects in nine regions of the country.  This year’s study included 79 markets.

The East North Central Region which includes Michigan is not unlike the rest of the nation in that exterior projects dominate the list of highest payback improvement projects.  The number one project from the standpoint of recouping your investment dollars is siding replacement (with a 79.3% payback for fiber cement siding).  The next three projects in order are very close in their percentage of investment recouped, with minor kitchen remodels coming in at 69.1%, a wood deck seeing a 68.9% return, and new vinyl windows yielding 68.5%.

If you would like more information on how this study was conducted or city-by-city results please click through to http://www.realtor.org/rmohome_and_design/articles/2008/0812_costvsvalue_2008 for the detailed report.

If you plan on listing your house, make sure your agent takes a lot of GOOD photos.  Make sure rooms are staged properly, lighting is good, and clutter is removed.  This will help the prospective buyer to visualize themselves in the space.

The primary photo – usually the front of the property – should be fantastic.  This is the photo that wets the buyers appetite to want to see more details and photos of a house.

Another key thing to remember is that a lot of real estate web sites will sort property listings by photo count.  For example, the listings with more photos will be at the top of a property search and have a better chance of being viewed by a potential buyer.  Your home is special, so take photos worthy of it!

As a buyer, the market could not be better today.  There are deals (and steals) out there today, of which we have not seen in nearly ten years.  Realistically, home prices in southeast Michigan are at levels roughly equivalent to those from 1999-2000.  I heard a report on the radio this morning that nationally we are at 2004 pricing. This provides truly an unbelievable opportunity for those who did not invest in real estate in the past to essentially jump back in time and take advantage of the best personal wealth builder available to most of us, a home.

I know what you’re thinking, what about the credit crunch?  It’s true, that credit may not be as readily available for any purchase, including a mortgage, today as it was a few years ago.  While the pendulum may have swung a little too far in the tightening direction recently, it’s because it had come from way too far in the loose direction in the years that proceeded.  Is it really a negative thing to think that we should be putting up a significant initial stake in the largest purchase most of us will ever make?  The bottom line is that there are still many options available for those who are looking to make a purchase.

So far this discussion has focused on the buying side of the equation.  And I know that my initial comment stated that your view point on the market depended on your role.  So I guess the natural assumption would be that if you are selling the market is not pretty.  That’s not necessarily true.  First of all, there is great deal of activity in the marketplace today. Yes, I just mentioned that prices are down from their record highs of the last few years. That said, everyone that is selling a primary residence must be moving somewhere.  For most, that means buying another home.  So the real question comes down to where and what you are buying.  If you are buying in the same general market and buying more home, you stand to do quite well in the “net” of the two transactions.  This will be the topic of my next article.