Tag Archives: south lyon real estate

The #1 Thing Home Sellers Desire Most

The Importance of Using an Agent To Sell Your House | Keeping Current Matters

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold. I ask every prospective home seller I meet with, what they desire most in the transaction and the number one response I get is, “Results”.

In order to accomplish getting a home sold, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past three years, over 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ most recent Profile of Home Buyers & Sellers.

However, the report also revealed that 95% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know.

Buyers search for a home online, but then depend on an agent to find the actual home they will buy (53%), or to negotiate the terms of the sale & price (48%), or to help understand the process (60%).

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious, as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process. It is important you know, that I am here to help and free to contact me anytime at (248) 939-9393.

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Fall Leaves Bring Sold Signs

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Summer has come to an end and you probably are thinking you’ve lost the opportunity to sell, and need to wait till next Spring, however that’s far from the truth! Although it’s not as hectic and crazy with the swarm of buyers in the market, the Fall season brings out the most serious of home buyers. They are the pool of buyers that waited out the Summer frenzy to find their perfect home in the Fall, and you don’t want to miss these buyers! They are ready to make a move today and selling in a slower period does not equate to less money. That’s a misconception that home owners have based on untrue data that floats around. With the right marketing strategy and your home being priced correctly, you can get a great deal selling your home during the Fall season. Here are the top 3 benefits to listing during the Fall season.

1. Serious Buyers – Let’s be honest, if buyers are out during the busy season, looking for homes, they are serious and ready to buy. Although the Summer brings in a large crowd, that crowd contains a lot of people who are excited by the season, and fall into the “trend” of house hunting. These people end up not really being serious about the process, and tend to hold off for another time. If people are investing time to look during the Fall season, they are more likely to be interested in actually buying your home, instead of touring it.
2. Less Competition – Selling in the Fall isn’t something many families can accomplish due to personal schedules. That’s why a significant amount of homes get listed during the Summer season which means that time brings in a lot of competition. Selling in the Fall means the potential house next door that has slightly more perks that may have been listed during the Summer, doesn’t make your home sit stagnant, since everyone wanted your neighbor’s house. It also doesn’t devalue your home because of the house that could go up next door that could be under-priced in your neighborhood, and draw all of the attention. With a slower season, you get dedicated attention to your property, which increases the chance of a sale.
3. Easier to Find Your Dream Home – Not only do you get to benefit from a slower season during the selling process, but you can also benefit on the buying side. With less competition on your dream house, you can get a better deal. The Summer brings a lot of missed opportunities for buyers on their dream homes, because they go off the market instantly. This will give you the opportunity to get your home on the market and take your time to find the right one to resize into. A much calmer pace to the transaction will make it less stressful, and everyone all around happier. Don’t feel rushed into buying a home overnight during the summer, it could turn into a headache. If you want a far more peaceful transaction, that has calmer pace, then selling during the fall is perfect for you.

It is important that you know, I am here to help and feel free to call me anytime at (248) 939-9393.

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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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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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10 Reasons Selling Your Home By Owner is a Bad Idea

In this current real estate market, specifically in Northville, Novi and South Lyon, Michigan, I have discussions with some home owners considering selling by themselves and with no professional representation. Here are ten important reasons how I let home owners know how I can save them time, money, liability and downright hassle.

1. Liability is all on the seller

Everyone makes mistakes. A seller who doesn’t have the representation of a licensed agent pays for those mistakes. Attorneys can close a real estate transaction, but they don’t carry errors and omissions (E&O) insurance.

For an example, if homeowner Sandy lists “hardwood floors” as a feature and the buyer discovers it’s just a wood veneer, chances are Sandy is going to pay for that mistake.

An agent would have either caught the mistake or covered it with E&O insurance. Let’s face it: this is a litigious society, so what homeowner wants to be a target for lawsuits?

This is a litigious society, so what homeowner wants to be a target for lawsuits?

2. Paperwork is daunting

The 2016 National Association of Realtors’ Profile of Home Buyers and Sellers showed that understanding paperwork was one of the most difficult tasks for FSBO’s.

Depending on the state, there are a variety of legal forms that are needed, including but not limited to a sales contract, property disclosures, occupancy agreements and lead paint records.

Sure, ready-made contracts can be downloaded easily enough. But does an untrained seller understand what all that means? Would the seller know how to customize that one-size-fits-all contract?

Understanding paperwork is one of themes daunting tasks when selling by owner.

3. Do you really know who your inviting into your home

Unfortunately we do live in a world that there are criminals who prey on FSBO’s. Do you really know who your letting into your home? I have heard of too many situations of items being stolen or broken during a showing of a FSBO’s home. I have even heard of home owners being held at gunpoint and robbed.

For every showing we schedule for our clients, we verify that the buyers agent is licensed with the State of Michigan and in good standing with our local real estate board. Can you put a price on having piece of mind knowing your home is being shown by a professional.

4. FSBO’s sell for less

In 2016, FSBO’s lost about 16 percent of the sales price with a median selling price of $210,000 (agent-assisted homes sold for $249,000).

Homeowners selling by themselves simply don’t have the time to devote to the process, don’t know the market value, don’t understand market reports and don’t properly market the property.

If the FSBO seller sold to someone he or she knew, the median dropped to $151,900 (because cousin Sue is doing them a favor and expects a deal).

5. FSBO’s spend more time on the market

Unless the seller knows someone who wants to buy the home, FSBO’s take longer to sell than homes listed with an agent. For the same reasons, they can’t get the right selling price.

No one is “behind the curtain” running the marketing show. On average, 18 percent of FSBO’s were unable to sell within their chosen time frame last year.

6. FSBO’s lack representation

There’s no one looking out for the homeowners who sell on their own. They have no one to call if they have a problem or a question. A homeowner with no representation could be out thousands of dollars unnecessarily if not prepared for the many contingencies involved in a transaction.

7. inspections are problematic

Sellers who don’t know the rules can get stuck with unnecessary and costly repairs. Some inspectors will state items need to be repaired or replaced because the code had changed. The truth is if the home was up to code when the house was built, the seller may not be responsible for these changes.

8. Marketing is limited

FSBO’s have limited resources to market their home. The 2016 NAR Profile of Home Sellers showed 42 percent rely on a yard sign, 32 percent rely on friends and family, and about 15 percent use social media.

Relying on the neighbors and Uncle Bob’s second cousin has its limitations. Even paying for the MLS listing won’t be enough because there’s no incentive for an agent to bring a buyer to a FSBO.

9. Hidden costs add up

The mindset for most FSBO’s is saving money. Chances are, these sellers are being nickeled and dimed into a pretty big chunk of change.

They’re paying for a lot of extras: signage, flyers, photography, MLS listing, attorney, home warranty (optional but hard to sell without one), home inspection, a wood destroying pest inspection, credit report for buyers (if applicable), contracts and the list goes on.

10. Time costs the seller money

The biggest cost to a homeowner is their time. You might hear the argument that it doesn’t take an agent that much time to sell a house. And honestly, given the technology at our disposal, that’s true — to an extent.

But it will take a homeowner a whole lot longer. They don’t have the expertise or the access to the resources agents have. What is their own time worth to them? How much time will the seller spend researching the market and contracts? Is the seller going to leave work to unlock the house each time there’s a showing?

FSBO’s don’t have the expertise or the access to the resources agents have. When you add up everything, and way out the pros and cons, I would hope you agree it is worth hiring a professional.

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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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