We’ve just sold a home in your neighborhood, 3105 Sunnyside Ct, Orion Twp.

This home was sold in 6 days! When homes are priced right, given the right amount of exposure, all parties working together, there is no reason not to expect success.

With over 37 years of real estate experience, we offer aggressive marketing and advertising 24 hours a day – 7 days a week until it is sold, exclusive SELLER / BUYER SERVICE GUARANTEE and exposure on over 600 websites.

Contact us direct to get your home sold today!

Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty
248-969-8065 or 810-338-0628

We’ve just sold a home in your neighborhood, 275 W. Castle Rd, Deerfield Twp.

When homes are priced right, given the right amount of exposure, all parties working together, there is no reason not to expect success.

With over 37 years of real estate experience, we offer aggressive marketing and advertising 24 hours a day – 7 days a week until it is sold, exclusive SELLER / BUYER SERVICE GUARANTEE and exposure on over 600 websites.

Contact us direct to get your home sold today!

Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty
810-338-0628 or 248-969-8065

Inventory of for sale homes posts big drop…

Found this article in RealtorMag back on 04/17/2012, talks about nationwide inventory dropping by…

The nationwide inventory of residential homes for-sale dropped 21 percent in March compared to a year ago, according to newly released housing data from Realtor.com, tracking 146 metro markets.

In fact, all 146 markets posted a drop in their inventory, except for two — Hartford, Conn., and Philadelphia.

The nationwide median list price in March also saw improvement, increasing more than 5 percent last month compared to last year at this time.

The housing picture is much different than last year at this time, when inventory was up 26 percent and list prices were down 4.81 percent.

“If the market continues to hold its own, 2012 could well mark the beginning of a broad-based housing recovery,” according to Realtor.com.

The metros that posted the biggest drops in listings of for-sale homes in the last year are:

1. Oakland, Calif.: -51.91 percent year-over-year drop in total listings

2. Bakersfield, Calif.: -50.35 percent

3. Phoenix-Mesa, Ariz.: -48 percent

4. Fresno, Calif.: -45.56 percent

5. Miami: -42.34 percent

6. Fort Lauderdale, Fla.: -39.66 percent

7. Seattle-Bellevue-Everett, Wash.: -39.38 percent

8. Atlanta: -39.26 percent

9. Orlando: -39 percent

10. Portland-Vancouver, Ore.-Wash.: -38.79 percent

11. Tampa-St. Petersburg-Clearwater, Fla.: -37.35 percent

12. Stockton-Lodi, Calif.: -36.18 percent
references: realtor magazine, daily real estate news, melissa dittmann tracey

5757 Genesee Ave.
Otter Lake, Michigan 48464
Lapeer County   $159,960.00

Own your own party store! Downtown Otter Lake! Building, inventory and business. Nice lot (100 x 100), plenty of parking, selling groceries, beer, wine and liquor…Add your ideas, like community involvement, pizza and subs, lottery or maybe delivery. HUGE profit potential! Call for your private showing today.

Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty
810-338-0628 or 248-969-8065

New home building permits soar to 2008 levels……Interesting article from RealtorMag about building permits and builder confidence……

Permits for new-home building — a gauge of future demand — reached its highest level last month since September 2008, the Commerce Department reported Tuesday.

New housing permits rose 4.5 percent in March, reaching an annualized level of 747,000.

But while the future of home building shows signs of picking up, actual construction started last month slowed, the second consecutive month for declines.

Builders broke ground in March on a seasonally adjusted annual rate of 654,000 homes, a 5.8 percent drop from February, the Commerce Department reported. The construction of multifamily homes — those with at least two units — posted a 16.9 percent drop last month while construction of single-family homes dropped slightly at 0.2 percent.

New-home building declined the most in the South — posting a 15.9 percent decline in March — while the Northeast saw a 32.8 percent gain and the Midwest saw a 1 percent increase.

The new-home market continues to struggle to compete against foreclosures and short sales plaguing many markets, which are often sold at big discounts. Coupled with that, new homes tend to be priced about 30 percent higher than previously occupied homes.

While builder confidence has been increasing in recent months, confidence showed a slight decrease in April, the first time it’s declined in seven months, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

“Although builders in many markets are noting increased interest among potential buyers, consumers are still very hesitant to go forward with a purchase, and our members are realigning their expectations somewhat until they see more actual signed sales contracts,” says Barry Rutenberg, NAHB chairman.

Source: “U.S. March Housing Starts -5.8% to 654K,” Dow Jones International News (April 17, 2012) and National Association of Home Builders
references: realtor magazine, daily real estate news

95% of REOs need rehab, analysts say…post found in RealtorMag from 04/16/12…talks about investors buying up foreclosures in bulk…

Investors are buying up foreclosures in bulk, viewing the potential returns from REOs-to-rentals as better than most other investments.

But experts caution investors to be careful that they don’t take on more than they can handle, and make sure they devote some attention — and budget — into the rehabilitation of many of the properties they buy.

Nearly 95 percent of distressed homes are in bad shape and unsuitable for renting out, Morgan Stanley analysts estimate.

“The importance of getting construction — or specifically, re-construction or rehabilitation — right cannot be overstated,” according to a recent report sent to Morgan Stanley clients. “The quality and cost of rehabilitation can continue to benefit or haunt the asset far past the initial completion of work. For example, shoddy plumbing or other infrastructure work can result in significantly higher maintenance costs over time, and can also affect eventual exit pricing.”

Morgan Stanley provided estimates to investors in the report, citing estimates of renovation work to cost about 25 percent of the purchase price.

Source: “Rehabilitation Vital to REO-to-Rental Success,” HousingWire (April 13, 2012)
references: realtor magazine, daily real estate news, housing wire

Houses for sale in Waterstone, Oxford MI
Oakland County, 48371
03/26/2012 to 04/26/2012

This is why everyone wants to live here

* 1,372 acres featuring 27 holes of championship golf * Bar and grill restaurant * Banquet center * 15 lakes * 600 acres for recreation, park areas, beach areas * Oxford community schools * walking distance to downtown Oxford * Convenient shopping, dining, theater and city events.

Sample of homes for sale

994 Island Lake Dr, $1,895 (lease) ~ 3 beds & 2.1 baths ~ 1950 sq.ft
980 Woodside Dr, $189,000 ~ 4 beds & 2.1 baths ~ 2809 sq.ft
1020 Cross St, $259,900 ~ 4 beds & 2.1 baths ~ 2700 sq.ft

Sample of homes sold

1288 Pondview Ln, $110,000 ~ 91 days on market (dom) ~ bank owned
923 Eden Lake Ct, $207,000 ~ 117 dom ~ short sale
400 Franklin Lake Cir, $214,900 ~ 291 dom ~ private owned
1010 Cross St, $233,185 ~ 139 dom ~ private owned
480 E. Peninsula Ct, $248,500 ~ 11 dom ~ private owned

For home buyers, average days on market is about 143 days and with today’s low interest rates, this is an excellent market for buying a Waterstone subdivision home with favorable terms.

For home sellers, you can be cautiously optimistic, with the right price and real estate agent, selling your home at a fair price is a realistic expectation.

For more detailed information on homes for sale in Waterstone, homes sold in and around Oxford MI, real estate foreclosures or real estate property values, contact us direct at 248-969-8065 or www.HomesInWaterstoneForSale.info TODAY!

Donald Horne, Realtor in Waterstone
Team Success
Coldwell Banker Shooltz Realty

We offer aggressive marketing and advertising 24 hours a day – 7 days a week until it is sold. Exclusive seller / buyer service guarantee and exposure on over 600 web sites.

When homes are priced right, given the right amount of exposure, all parties working together, there is no reason not to expect success.

Player by BombBomb

Oxford, 10.5 acre cape cod home, 1346 Meadowbrook Ct, Oxford Michigan
$309,960.00

Cape cod style home with 4 beds & 3 baths, fireplace, 1^st floor laundry, finished walkout basement, deck and absolutely spotless, this home IS move in ready! Woods, ponds, blinds, black top drive, wildlife, great country feel with large front porch and gravel road. Oxford schools and close to downtown for shopping, dining, family activities. Love at first sight!

Oxford Twp. Information

Home Tour

Mortgage Information

Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty
248-969-8065 or 810-338-0628

Home values rising in hard hit markets

Article in RealtorMag discussing home values in hard hit markets like Michigan……

Hard-hit housing markets in Florida, Michigan, and Arizona are seeing an increase in average home values. In particular, Miami is pushing home and condominium values higher in other Florida cities.

Meanwhile, a lack of discount priced foreclosures is pressuring home prices to climb in the Phoenix metro area. However, rising home values in these and other hard-hit markets could still translate to a short-term increase if banks and mortgage lenders raise mortgage rates.

Higher rates could lead to a slowdown in housing sales, which would be devastating for the market, as it’s experiencing the first significant signs of a recovery in more than five years in many of the country’s hardest-hit areas.

Source: “Home Values Rising in Hard Hit Markets,” Housing Predictor (April 9, 2012)
references: realtor magazine, daily real estate news, NAR