Housing inventories drop and list prices rise…Found this article in RealtorMag dated 02/21/12, hopefully this trend continues.

In a growing number of housing markets, sellers are facing less competition now compared to a year ago.

Inventory of for-sale homes has dropped by about 23 percent compared to this time last year, and fell by 6 percent alone from December 2011 to January 2012, according to Realtor.com data. 

The age of the inventory is also declining, and is nearly 5 percent below levels last January. 

The median age of for-sale housing inventory is lowest — 69 days or less — in Oakland, Calif.; Bakersfield, Calif.; Denver; Fresno, Calif.; Stockton-Lodi, Calif. and Phoexnis-Mesa, Ariz., according to January data from Realtor.com.

Meanwhile, as inventory is falling, the median list price has been on the rise: up nationally more than 3 percent year-over-year. 

“Over the past year, an increasing number of markets have registered year-over-year increases in median list prices while fewer markets have experienced year-over-year list price declines,” a statement by Realtor.com notes. 

The metro areas with the highest increases to median list prices year-over-year, from January 2011 to January 2012 are: 

1. Miami, Fla.: 32.75%
Median list price (in January 2012): $265,500

2. Fort Myers-Cape Coral, Fla.: 21%
Median list price: $229,900

3. Punta Gorda, Fla.: 19%
Median list price: $179,000

4. West Palm Beach-Boca Raton, Fla: 18.6%
Median list price: $224,150

5. Boise City, Idaho: 18.15%
Median list price: $151,228

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News
references: realtormag, NAR

Just because your garden is dormant for the winter doesn’t mean you should snooze, too. Experienced gardeners do their dreaming, and planning, when the snow flies. So while you’re thinking of blossoms and butterflies, be sure to add trees and shrubs that look great even in snow.

It’s all about structure

3 season landscapes concentrate on blooms and foliage, but winter gardens need structure to provide interest. When you choose plants and trees in spring, consider varieties that provide a pop of color in winter, shrubs that set berries and trees that reveal interesting bark when the leaves are gone.

Plant these for winter wonder

Here are some popular varieties that provide a winter show. Make sure you check the plant’s Cold Hardiness Zone before buying.

* Holly
* Dogwood
* Camellia japonica
* Witch hazel
* Miscanthus
* Helleborus

Last minute color

If you didn’t think about winter color when you planted in spring, here’s how you can add some 11th hour pop to your winter landscape.

In beds and containers, plant hearty ornamental heirloom vegetables, such as varieties of Swiss chard, kale and cabbage.

Hang bird feeders to attract wild birds that stay around throughout winter. Birds are always searching for water during cold months, so add a heater to bird baths, too.
references: houselogic, lisa kaplan gordon

Lapeer real estate and real estate sold in Lapeer MI
Lapeer, City of Lapeer, Lapeer Twp.
Lapeer County, MI 48446
02/17/2012

New homes this week in and around Lapeer:

1245 First St, $72,900 = 1300 sq.ft = 4 beds & 1.1 baths = private owned
1650 Pleasant St, $116,900 = 1349 sq.ft = 3 beds & 2 baths = bank owned

Sold homes this week in and around Lapeer:

268 Bentley St, $23,500 = 1326 sq.ft = 47 days on market (dom)
1122 N. Madison St, $24,000 = 664 sq.ft = 142 dom
330 E. Nepessing St, $49,000 = 1500 sq.ft = 18 dom
612 Turn Bull St, $96,000 = 1670 sq.ft = 53 dom
310 Golfside Dr, $155,000 = 1700 sq.ft = 493 dom

For more detailed information on selling your Lapeer MI home, foreclosures, short sales, real estate property values or Lapeer Community Schools, contact us direct at 810-338-0628 or dhorne@cbshooltz.net TODAY!

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

* All MLS sales were up 10.4% from January 2011
* Average days on market (dom) decreased from last year by 7 days
* Of the total sales closed in January, 16.2% were short sales
* Approximately 50.2% of all sales were cash sales

Lapeer County residential sales were up 6.6% while Oakland County sales were down 1.1% from January 2011.

* All MLS on market inventory declined by 19.8%
* Approximately 16.3% of the on market inventory is comprised of foreclosures
* Approximately 22.7% of the on market inventory is comprised of short sales

Oakland County residential median sales price is up 5.3% with Lapeer County median sales price down 27.5% from January 2011.
references: realcomp 02/13/12

Banks offer more cash incentives for short sales…Article in RealtorMag on how banks are offering incentives to homeowners.

More banks are offering home owners incentives to sell their houses in a short sale to prevent a costly foreclosure to the bank. In fact, some banks are offering struggling home owners as much as $35,000 to do a short sale, according to an article at CNNMoney.

Many home owners have been surprised at banks’ recent willingness to approve short sales.

“Initially, the home owners are skeptical,” says Elizabeth Weintraub, a real estate professional in Sacramento, Calif. “The bank may have already turned down their request for a modification. Then, one day, they call and say, ‘Let us give you some cash.’”

For banks, the incentives have proven to be a smarter move than letting a property fall into foreclosure.

“The first choice is a modification, but if that’s impossible then a short sale is a faster, more efficient solution,” Tom Kelly, a spokesman for Chase Mortgage, said.

With a foreclosure, home owners stop making their mortgage payments and usually property taxes as well. They also often put off maintenance issues, which can cause the home to lose value even more. Foreclosed homes sold, on average, for 22 percent less than homes not in foreclosure in December, according to National Association of REALTORS®’ data. For comparison, discounts for short sales were about 14 percent.

“I’ve seen a lot of foreclosures for sale where it would cost a lot more than $20,000 to get them into condition to sell again,” says John Hayton, a short sale specialist in Orlando, Fla.

Source: “Banks Pay Delinquent Borrowers $35,000 to Sell Their Homes,” CNNMoney (Feb. 10, 2012)
references: realtormag, daily real estate news, NAR

Easy to install security cameras let you keep an eye on your home from afar, ensuring safety and security for you and your family.

Thanks to internet based web cameras, adding home security cameras is an affordable weekend project and you may get a discount on home owners insurance, depending on the system you’ve installed.

Network Cameras:

Internet based network cameras are a quick solution in setting up home surveillance. They connect to your broadband connection and don’t require difficult wiring or mounting.

Riding The Z-Wave:

If you have a Z-Wave based home automation system installed, you can add wireless cameras to create a security network inside and outside of your house.

DIY Camera:

You can turn a basic computer webcam into a surveillance system using free down-loadable software from Yamcam and EyeSpyFx. You’re required to have your computer remain on, but once set up you can log in remotely from another computer, say, at work and view streaming video of your home. Just position the camera at what you want to monitor.

An affordable webcam like Microsoft’s LifeCam VX-2000 costs about $30 or less.
references: houselogic, les shu, NAR

Oxford schools! Lease this 3 bedroom, 1936 sq.ft home on 3 wooded acres. Wood floors, open floor plan, walkout basement and a 28 x 18 great room. Available 04/01/2012, smoke free, no pets, credit report and rental application. Don’t wait on this one…

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

2011 energy tax credits: what you need to know to collect…

They’re not as much as they used to be , but there are still energy tax credits to be had for upgrades. 2011′s federal energy tax credits of up to $500 for various home improvements are a far cry from what they were in 2009 and 2010. But if you upgraded to 1 or more of the following systems in 2011, you may be eligible to take a tax credit on your 2011 returns.

Biomass stoves, heating-ventilation-air conditioning,
Insulation, roofs, water heaters (non-solar),
Windows-doors-skylights, storm windows-doors,

The energy tax credits are small, but at least a credit is better than a deduction, deductions just reduce your taxable income. With a credit, you get a dollar for dollar reduction in your tax liability, if you get the $500 credit, you pay $500 less in taxes.

Credit only extends to 10% of the cost, so you have to spend $5,000 to get $500. File IRS Form #5695 with the rest of your tax forms in 2012.
references: houselogic, donna fuscaldo, NAR

Oxford real estate listings, sold property in Oxford MI
Oxford Twp, Oxford, Village of Oxford
Oakland County, MI 48371
02/04/2012

Homes for sale this week:

475 Thornehill Trl, $159,900 – bank owned – 1993 sq.ft – 4 beds & 2.1 baths

Homes sold this week:

59 Mechanic St, $950 (lease)
73 Pleasant St, $26,100 – 3 beds & 1.1 baths – 86 days on market (dom)
12 Pearl St, $35,285 – 4 beds & 2 baths – 39 dom
61 Dennison St, $66,000 – 3 beds & 3 baths – 7 dom
290 Oxford Lake Dr, $112,900 – 3 beds & 3 baths – 42 dom

YTD summary:

The average property in Oxford has been on the market for about 209 days – up 2%
The median price per sq.ft for homes is about $108 – no change
There are about 144 properties on the market as of 01/29/12 – down 3%
The median single family home price is $252,001 – no change
With a market action index at 18.5, Oxford is still in a buyers market

For more detailed information or questions on new homes for sale, sold property, foreclosures or bank owned properties, real estate property values, contact us direct at 1-248-969-8065 or dhorne@cbshooltz.net TODAY!

SELLER / BUYER SERVICES GUARANTEE
Donald Horne, Realtor, Team Success
Coldwell Banker Shooltz Realty

Top 3 most common home defects to check for.

There is no such thing as a perfect home, most homes – new and old – have a few problem areas. However, some home flaws are more frequent than others. Below are the top 3 home defects that every buyer and seller should check for before making an offer, or putting a home on the market.

Wood

Any wood that is exposed to air will naturally contain a small percentage of water and rotted wood is one of the most frequently occurring maintenance issues.

Water and Drainage

According to findings from the 2009 NCHH survey that polled Americans 18 and older, to determine their level of awareness for common home health and safety, only 41% of homeowners surveyed repaired water damage or plumbing leaks. This can lead to serious expenses down the line.

Roof

The roof is your home’s strongest shield against the elements. Keeping your roof in top shape can help you avoid some pretty big disasters, including major leaks and even a total collapse.
references: zoe eisenberg, efrogpond inc