According to the National Association of REALTORS tax reform may impact the value of our homes!
Halloween Decoration Contest!
I'd like to congratulate the winners of our Halloween Decoration Contest! We had a great time! Thank you all for your participation!
Our First Place Winner from Dearborn!
Second Place winner from Lincoln Park!
Third Place from Dearborn!
Winter is Coming!
September went by fast, for some of you school just started, for you or your children. By now everybody should be getting used to their schedules and feeling a little more relaxed.
Right now is probably the best time to start thinking of preparing your house for the winter months. Trust me, beat the rush! Last year I made the mistake of looking for the clear plastic to cover my windows a little too late, and I paid dearly in my gas bill! This year I am getting my plastic early, getting some foam seal for around my doors and about to change my air filter! I have found it is best to check these things before mid-October.
Living in Michigan, we all know, the first snowfall can sneak up on you!
Real Estate One's Charitable committee is holding their annual “Pumpkin Bowl,” Bowl-a-thon, on October 21st, ,1:00-4:00PM, At Skore Lanes at 22255 Ecorse rd, Taylor MI 48180. We are looking for participants and donation's. Fun for the whole family! Bowling is $15 in advance or $20 at the door! Please feel free to contact me for more information!
Hope to see you there!
One unique house in my neighborhood!
This is the story of a local man, who truly made his home into his own castle. In Taylor, this house sits among a row of nearly identical brick bungalows, that mostly only differ in color and landscaping. This house was so unique, that I had to ask the owner about it.
It turns out that her late husband, did all the work himself. He built an ornate addition upstairs, supported by the columns on the porch. The house is accented by a decorative spire on the left side, which he also added. He put a lot of time and effort into making this house his own. Sadly he passed away last February. He is survived by his wife and daughter.
When I asked if I could feature their house on my website, his widow said that "he would have really appreciated it!"
I only wish I had met him, so I could show my appreciation of his vision first-hand!
Seeking Unique Homes Downriver!
I am looking for unique houses in the Downriver area, to feature, on downriverdwellings.com, in special “Open House Online's!” It can be a tiny home, mansion, castle, a converted school, or anything imaginative!
The criteria I will be using to decide who's house is featured will be:
- Is the house different in appearance? Maybe it is a dome, has round windows, or any other uncommon look. If it looks like a Hobbit House, you will drastically increase your chances of being picked!
- Does it have special features that make it unique? Cabinets that are built into walls, spiral staircases, history, etc.
- Is it a different type of construction or material used? Was it an former school, storefront or other type of building? Perhaps it was built out of used pallets, field stone, milk crates, etc.
- Maybe it has an interesting location. By this I mean, is it underground, on stilts in a river, in a tree? Real good chance of being featured!
- It could be just plain fun! Do you have a love or hobby that you integrated into the design of your home, or even just one certain room. Is there a zip-line or slide from the upper level? Huge points for zip-lines, but not a requirement!
If there is a house that comes to mind when reading this, please let me know, either in the comments, or by e-mailing me at:
If you are the owner please tell me a little about the house and send me a few pictures!
Why isn't my house selling?
In this market, as noted in last week's post, people selling their home should be very happy. Values are up an average of 8% , The lack of housing inventory is causing houses to sell quickly and with multiple bidders, sometimes literally overnight! With all this action in such a hot market, why are there some homes that are having trouble selling?
The number one reason that the house isn't selling is usually, because the homeowner is just plain asking too much. In the current housing market conditions, if the property is priced right, it will sell. It is very difficult to use an objective opinion, when evaluating your own house, that you have lived in for any period of time. The homeowner has put in time, repairs, updates, and has sentimental attachments to the property.
Some agents, may promise the world, going to get people top dollar for their house, help fulfill your dreams, etc. These agents probably know what the homeowner's house is worth, but are either too polite to tell their clients they are asking too much, or they are afraid that they will lose their listing. So unfortunately, their house sits for too long, wasting the time of the homeowner, as they watch their neighbors home's sell around them. Sure the market is strong, and values are on the rise, but, people aren't going to buy a house when the one around the block is twenty percent cheaper.
Sometimes people overvalue their houses because of the extravagant, over the top, updates they have put into their house. I keep telling people, “I live in Taylor, I could spend thousands of dollars to put up marble columns in my front yard, but, I will never see the value out of it.” If you are planning on living at your house, for life, sure, go crazy, make it your own, and enjoy the envy of your neighbors when they see the scale model of the Sphinx, in your yard! If you ever plan to move out of your house, try to be more reasonable with the updates, keep in mind, your interests, although unique, may not line up with prospective buyers.
Another scenario that I have come across, is that some people don't want to put any effort into selling their house at all. This was the case in one situation, that happened to a friend of mine, from my office. Her clients, an elderly couple, decided it was time to move into an assisted living facility, and left it to their daughter to sell their house. Their daughter told my co-worker, that, the house next door sold for “X” amount, so that is what she wanted to list their house for. Unfortunately the daughter didn't actually see the inside of the neighbors house, to make comparisons. If she had, she might have noticed that, the next door neighbor's house was in much better shape than her parent's house. She left nails and hooks in the walls from pictures, did not paint, and had carpet in the house with large stains. The stains might have been red-pop or wine, but, it appeared as if it had been the scene of a multiple homicide. I was invited to do an open house there, this house did not make it to becoming one of my “Open House Online's!” After the open house, I suggested to my co-worker, to remove the carpet, because, it had hard wood underneath, and to remove the nails from the walls. The homeowner's daughter, spent the next weekend, taking my advice, and accepted a full price offer the following week!
When buyers see that a house has been sitting on the market for much longer than the others in the neighborhood, they typically assume that there is something majorly wrong with the property. The same is true when buyers, or their agents, see that there have been multiple price adjustments. Every seller wants to get the highest and best value out of their home, but, it is better to price it within reason the first time! This is why it is always a good idea to hire a REALTOR to do a proper “Comparative Market Analysis,” for your property!
By: Demian Allgeyer
The Downriver Market Overview 8/12/2017
The housing market has been incredible this year! We are currently experiencing a 20 year low in housing inventory, which, is causing a high demand for living space. The lack of inventory, coupled with, Michigan's increasing economy is having a great impact on the housing market. Sales prices are up an average of 8%, from last year.
Sellers are reaping the rewards of the current market. Not only are house values on the rise, the lack of inventory is decreasing the wait time to sell. The average amount of time that a house sits on the market has been steadily decreasing in this quarter, as well as for the year. Many houses, are receiving multiple offers, shortly after listing. This may cause some sellers to wonder, if their house was priced too low, which, often is not the case, in our current conditions. If you have a listing that has been sitting too long, without attention, chances are you might be asking too much!
The lack of inventory is frustrating to buyers. It is taking longer to find a house and buyers are often finding themselves bidding against one or more interested parties. Buyers often find their offers of listing price and below, rejected. You might want to keep this in mind, when making an offer, If you are in a position offer, a small amount, above list price, you will dramatically increase the odds that you will be accepted!
With this in mind, I would like to try to help Downriver buyers with ideas of what cities might in our area have the best chances for finding a home.
The city with the most listings, by far in our area, is Dearborn. This is no surprise to me being the 8th largest city in Michigan. There are currently active listings in the twenty municipalities, that make up the Downriver area (For a full list check the community page on this site), 357 of which are in Dearborn, making up 23% of the Downriver market. Dearborn is also home to the highest rated school Downriver, Crestwood, ranked #25 in Michigan, according to USNews.com. There are currently 89 active residential listings in the Crestwood School District, with an average value of $220, 163.
My hometown of Taylor is second on this list, with 146 active residential listings, making up 9% of the active listings in the Downriver area, with an average listing price of $106,678.
Lincoln Park also makes the list, with 106 active residential listings. Making up 6% of the Downriver market. The average listing price in Lincoln Park is $72,483.
In the future, I plan to take a more in-depth look at the individual cities, in the Downriver area. For a full list of the cities that I have included in the Downriver area, please refer to the list of city websites on my Community page. Most of the statistics in this article have been taken directly from our Paragon Multiple Listing Service, unless noted.
I hope that you found this information helpful!
If you have a question, comment or suggestion, please let me know in the comment section below!
Alzheimer Association: Walk to End Alzheimer's
I'm participating in the Alzheimer's Association Walk to End Alzheimer's® because I'm committed to raising awareness and funds for Alzheimer's care, support, and research. I'm leading the way to Alzheimer's first survivor — but I need your help!
Will you help me reach my fundraising goal of $100.00 by making a donation today? Visit my personal fundraising page to make a secure, tax-deductible donation or download and print the paper form on my page to mail in with a check. All donations benefit the Alzheimer's Association — and every dollar makes a difference in this fight.
The walk is on August 26, 2017 at the Detroit zoo! If you would like to donate, volunteer, or walk, please click the link below!
This hits close to home, for me personally, because my dad, died suffering from dementia.
Together, we can end Alzheimer's disease!
Thank you for your support.