Tag Archives: Real Estate

A “Must Do” if You Plan to Sell Your Home in the Next Six Months

As the Summer home selling season fades away, it is hard to believe that we will more than likely have our first snow fall in the next few months.
 
A service I offer to my prospective clients this time of the year that are thinking of selling over the next six months is to take pictures of the exterior of their home before the green grass, lush landscaping and flowers go away for the Winter.
 
When listing your home for sale over the Winter months, it is important to give buyers a true vision of what your home looks like on the exterior when it looks it best. The exterior picture is the first picture any buyer will see of your home when looking on line.
 
If your are considering selling your home, or know of anyone who may be over the next six months, please feel free to call me at (248) 939-9393 to set up this free, no obligation appointment. There is no contract needed when your home is photographed. Another benefit of doing this is you will have a leg up on any competing homes that decide to list during the Winter months that have not taken Summer/Fall exterior pictures.
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Hour Detroit Real Estate All Star

I am proud to announce that our team, Duneske Real Estate Advisors was named to Hour Detroit “Best Of” in the Real Estate category for the sixth consecutive year. Hour Detroit has been publishing this category over the past six years.

To earn the opportunity to make this distinguished list, our team was in the top 5 percent of all Realtors in Metro Detroit for closed sales volume in 2016.

The source for the accurate data comes from MiRealSource.com which maintains a database of real estate listings throughout Michigan.

 

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A Must Read if Your Are Considering Building a New Construction Home

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This past weekend our team previewed all the new construction sites in South Lyon and Lyon Township. It took a while! After all, it is one of the fastest building communities in the State of Michigan. We collected updated pricing, floor plans, availability, and current promotions. Our team also has all the new construction information in Northville and Novi. If you’re planning on making a move, and you’re considering building your next home, STOP!! Before you visit the beautifully decorated and landscaped model home, and fall in love with the idea of building your dream home, you really need to take a minute to read the rest of this article. PLEASE NOTE: If you do not have a Realtor in attendance with you the first time you go to the builders model, this will prevent you from moving forward with FREE PROFESSIONAL representation, a substantial and often overlooked value to every buyer. Before you visit, or even talk to a builder’s site agent, consider the benefits of enlisting a Real Estate Agent through the process. There are some real significant advantages to using a Realtor experienced in new home construction, and the best part is; the builder’s already paid for it! Here are the Top 10 benefits of enlisting an experienced Real Estate Agent before you begin the home building process.

  • A Realtor, experienced in the local building market, who is a new homes specialist, can assist you in choosing the right builder based on your individual preferences and budget.
  • An experience Realtor does all the research for you! He interviews other owners, rates product, service, quality, and warranties.
  • Site agents represent the builder. They are top-notch sales people who know how to close a deal. Shouldn’t you have a professional working for you?
  • Very often, a recently built home may come on the market that meets all your requirements. A Realtor can show you that home and help make an offer if you prefer. Do you think a buildersagent is going to inform you of that resale?
  • If you have a home to sell, a Realtor can assist you with the pricing and marketing of your house. An experienced Realtor understands the timing involved to sell your existing house and get you into your new home.
  • A Realtor, is knowledgeable in new home construction, helps buyers understand the process of building a new home and the many unforeseen decisions on the horizon.
  • A Realtor is your single point of contact with the builder. They can facilitate communication with all the parties involved.
  • Many times, a builder’s model maybe the perfect home for you. A Realtor may be able to negotiate the purchase of the model and lease it back to the builder so that the builder can continue to use the model until the neighborhood is sold out.
  • Realtors have a large network of real estate professionals for financing, home inspectors, attorneys, etc.
  • Realtor services are FREE to the buyer. Every builder in the area works with Realtors, factors their compensation into the price, and encourages Realtors to bring potential clients in. As I mentioned earlier, you must have a Realtor in attendance with you the first time you visit the model, even if you’re stopping in to take a quick look at the model. The Realtor needs to register with you so that you are protected. Even if you decide not to build I believe you will find it beneficial having a Realtor walk through the model with you.

If you are considering building your new home, take it from our expert new construction team, and hire an experienced Realtor. We can help make the entire building process satisfying and enjoyable. It is important to us you know we are here to help. Feel free to call our office anytime at ‪(248) 939-9393.

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What is the Best Day and Month to Sell Your Home?

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After 18 years of selling homes in Northville, Novi, South Lyon and surrounding Metro Detroit communities, I meet with dozens of home owners throughout the year and I am asked this question at almost every seller consultation.

Historically, your Summer months (May, June and July) are the busiest months of the year for transactions however we have a few other seasons in our marketplace. For the past three years, the month of October has been the second busiest month for real estate closings for our team and July has been the busiest. The weather plays a very big role in the early part of the year as we have experienced this past January with the unseasonably warm temperatures and this was the busiest month I have had in my professional career with almost 5 million dollars of sales. Before the peak selling season arrives in May, we always experience a “Pre-Selling Season” and this typically arrives in mid to late March as the snow tends to move out of the area and Spring begins to arrive.

I have always been a big advocate for beating the rush of home owners putting their home on the market in the peak season based on the supply and demand principle. We have been experiencing a sellers market for the past few years and the demand has been fairly consistent and when there is less inventory, and demand is high, I encourage home owners to list their home now to maximize their profit. Many of our sellers have been experiencing quick sales under one week and getting top dollar.

When it comes to the best day of the week to list your home for sale, I have seen that Thursday’s have been the best day of the week to list your home. Many home buyers, due to their schedule can’t get in to see a home till the weekend and by listing on Thursday, this allows your home to be distributed throughout the web and multiple listing system while saving a few days on the market giving an increased sense of urgency to buyers wanting to get in right away.

The bottom line is if your thinking of selling your home this year, please feel free to contact me for a no-obligation, private home selling consultation at (248) 939-9393. If your curious to get an estimate on what your current home value is, please visit http://www.HomeValueMI.com . It is important you know that I am here to help and look forward to putting 18 years of experience with over 150 million dollars of successful real estate transactions to your benefit.

 

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Two Graphs That Scream List Your House Today

Two Graphs That Scream You Should List Your House Today! | Keeping Current Matters

The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different!

We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.

If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

According to research at the National Association of Realtors (NAR), buyer activity this year has far outpaced the same months in 2014. Purchasers who are ready, willing and able to buy are in the market at great numbers.

Foot Traffic | Keeping Current Matters

According to NAR, “Foot Traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future.”

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the current supply of housing inventory is at a 5.1 month supply, which remains below the 6-months necessary for a normal market.

Inventory of Homes for Sale | Simplifying The Market

Buyer demand is far outpacing the supply of homes available for sale.

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.

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Sellers Dilemma: OTM, FSBO or List Again?

Sellers Dilemma: OTM, FSBO or List Again? | Keeping Current Matters

At the end of June, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent.

Let’s assume you or someone you know is in this situation and take a closer look at each possibility:

Taking Your Home off the Market

In all probability, after putting your house on the market and seeing it not sell, you’re going to be upset. You may be thinking that no one in the marketplace thought the house was worthy of the sales price.

Because you are upset, you may start to rationalize that selling wasn’t that important after all and say,

“Well, we didn’t really want to sell the house anyway. This idea of making a move right now probably doesn’t make sense.”

Don’t rationalize your dreams away. Instead, consider the reasons you decided to sell in the first place. Ask your family this simple question:

“What made us originally put our home up for sale?”

If that reason made sense a few months ago when you originally listed the house, chances are it still makes sense now. Don’t give up on what your family hoped to accomplish or on goals your family hoped to attain.

Just because the house didn’t sell during the last listing contract doesn’t mean the house will never sell or that it shouldn’t be sold.

Re-Listing with your Existing Agent

For whatever reason, your house did not sell. Perhaps you now realize how difficult selling a house may be or that the listing price was too high, or perhaps you’re now acknowledging that you didn’t exactly listen to your agent’s advice.

If that is the case, you may want to give your existing agent a second chance. That’s a perfectly okay thing to do.

However, if your agent didn’t perform to the standard they promised when they listed your home you may want to either FSBO or try a different agent.

For Sale by Owner

You may now believe that listing your house with an agent is useless because your original agent didn’t accomplish the goal of selling the house. Trying to sell the house on your own this time may be alluring. You may think you will be in control and save on the commission.

But, is that true? Will you be able to negotiate each of the elements that make up a real estate transaction? Are you capable of putting together a comprehensive marketing plan? Do people who FSBO actually ‘net’ more money?

If you are thinking about FSBOing, take the time to first read: 5 Reasons You Shouldn’t For Sale by Owner.

List with a New Agent

After failing to sell your home, you may no longer trust your agent or what they say. However, don’t paint all real estate professionals with that same brush. Have you ever gotten a bad haircut before? Of course! Did you stop getting your hair cut or did you simply change hair stylists?

There is good and bad in every profession—good and bad hair stylists, agents, teachers, lawyers, doctors, police officers, etc. And just because there are good and bad in every line of work doesn’t mean you don’t call on others for the products and services you need. You still get your hair cut, see a doctor, talk to a lawyer, send your kids to school, etc.

Bottom Line

You initially believed that using an agent made sense. It probably still does. Contact a local real estate professional and discuss the possibilities.

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Buy vs Rent: What Really Creates Family Wealth?

Buy vs Rent: What Really Creates Family Wealth? | Keeping Current Matters

There has been recent press regarding whether or not it makes better financial sense to rent rather than buy in today’s housing market. As an example, the recently released June Summary of the BH&J Buy vs. Rent Index reported:

“…as of the end of the first quarter of 2015, the housing market in the U.S. and all cities in the index are trending either closer to renting being the superior option or strictly favoring renting over purchasing a home.”

The summary goes on to explain that:

“The index conducts a “horse race” comparison between an individual that is buying a home and an individual that rents a similar quality home and reinvests all monies otherwise invested in homeownership.” (emphasis added)

Though the math may be correct, we are not as sure of the conclusion. Even if you check the methodology offered by the BH&J report itself, you will find that they realize:

“…any extra savings from renting might be spent on non-wealth enhancing goods resulting in any benefits from renting versus owning disappearing in a cloud of consumption spending rather than savings.”

The Concept of ‘Forced Savings’ and Wealth Accumulation

Many believe the wealth accumulation of homeowners is tied into the concept of “forced savings”. The New York Times late last year published an editorial entitled, Homeownership and Wealth Creation, which discussed this concept. The article explained:

“Homeownership requires potential buyers to save for a down payment, and forces them to continue to save by paying down a portion of the mortgage principal each month.”

“Even in instances where renters have excess cash, saving a substantial amount is difficult without a near-term goal, like a down payment. It is also difficult to systematically invest each month in stocks, bonds or other assets without being compelled to do so.”

Many of the points that were made in the article are on track with the research done by the Joint Center for Housing Studies at Harvard University which agrees that “forced savings” is a major advantage of homeownership. In a paper, The Dream Lives On: the Future of Homeownership in America, they concluded:

“Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.”

The Truth is in the Historical Data

Edwards Deming once said: “Without data, you’re just another person with an opinion.”

Let’s look at the data on this subject. The Federal Reserve has conducted a study titled: Survey of Consumer Finances. The study found that the average net worth of a homeowner ($194,500) is 36 times greater than that of a renter ($5,400).

Bottom Line

The New York Times editorial articulated it best:

“Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after the housing bust, the net worth of homeowners over time has significantly outpaced that of renters, who tend as a group to accumulate little if any wealth…As a means to building wealth, there is no practical substitute for homeownership.”

If you are a renter who is considering making a purchase, sit with a local real estate professional who can explain the benefits of signing a contract to purchase over renewing your lease!

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