The highest price sale (reported as of today) in the MLS is a 2006-built 4138 sq ft waterfront home in the Hidden Lake Estates community of Green Oak Township. Four bedrooms, four and a half baths, in home theatre, and of course a private dock all come as part of the package. This home was listed at $899,900 and sold for $850,000 with a conventional mortgage on March 31, 2011 after just 39 days on the market. That’s 94.5% of listing price, not bad at all.
The lowest price home sale (excluding a couple of manufactured homes on deeded land and one home that sold for $6,000 and listed as “value in the land”) was listed for $14,900 and sold for $12,200 in 98 days. It was a 1940-built 639 sq ft, 2 bedroom, 1 bath bank-owned home with access to Whitmore Lake. It sold for cash on February 24, 2011 at 81.9% of listing price.
When I look back to 2005, the highest home sale list-sale price ratio was still 94.5%, although the list and sale prices were definitely higher. And there were more of them. In the $500,000 and up range for all of Livingston County through the end of May, we had 36 sales in 2005 compared to the 9 sales in that same price range this year.
Wikipedia says that, “Yin yang are complementary opposites that interact within a greater whole, as part of a dynamic system.” It is also a dominant concept of Feng Shui, something at least familiar to most Real Estate industry workers. It’s really about balance, not ‘left’ or ‘right’, or ‘right’ or ‘wrong’. Regardless of the housing market being up or down, we certainly have opposites within a larger, dynamic system. Personally, I’d love a little more balance.
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