The Red Barn

One thing that seems to stay constant in my real estate life is an appreciation of architecture, form, light and color. Some pretty typical-looking homes just seem to catch my eye. I guess the same thing goes for cars, people, animals, and yes – even barns.

I was driving to a new property assignment yesterday morning. There was a moderate fog at my first stop, and as I neared my second destination, the sun was poking through and burning the fog off. I’ve passed this particular barn many times over the years, but coming out of a foggy patch into the sun and seeing this dilapidated old barn in that exact light made it seem as though I were seeing it for the first time.

Of course I pulled over and grabbed my always available camera to snap a few shots. This one was at f5.6, 1/1000 sec exposure and ISO 800. It’s definitely the one I like the best.

Case-Schiller Annual Price Change Improvements

The just released (Oct 25 2011) Standard & Poor’s Case-Schiller Home Price Index shows their 10- and 20-city composite data recording mild improvements in home prices. August 2011 data (3.8 percent and 3.5 percent declines) was improved from August 2010 (4.1 percent and 3.7 percent declines). So yes, while prices are still going down, they are improving.

Sixteen of 20 cities in the index posted improved figures from the July data, another hopeful sign. Atlanta and Las Vegas appear to be bucking the trend with lower negative trends. Detroit (2.7%) and Washington, D.C. (0.3%) were the only two cities to show an annual gain.

Locally, for Livingston County, average sales prices are up just over 21% for 2011 vs. 2010 and up more than 19% for 2011 vs. 2009. Inventory continues to be an issue, with a 32% drop for 2011 vs. 2009 and over 20% lower for 2011 compared to 2010. Days On Market (DOM, or the time it takes to get a home sold) are also declining. So buyers that are serious have to move speedily to have the best opportunity at the house they really want to purchase.

If you’re looking for a home in West Oakland, Livingston, or North Washtenaw County, call me for a no-stress discussion of the market.

New Listing - 7843 Turnberry-Whitmore Lake

This one-owner home has been well maintained.  The comfortable family room has a gas fireplace and overlooks the Links of Whitmore Golf Course.  Newer well pump and constant pressure tank, this home is also equipped with a quiet dishwasher, inground irrigation system and side-entry two car garage.

Enjoy the brick paver patio and garden area.  A total of 1961 sq ft with 4 bedrooms, 2 full and 1 half bath.  Living room and dining room are also available, and your guests will love the look of the towering entance/foyer area. Some furniture, 3D TV, and riding mower with attachments are available-make offer.  See the full listing here.

Dump Your Old Electronics – Free!

Livingston County Solid Waste Program has a one-day collection coming up next Saturday, October 29th, from 9am to 2pm. No appointment is necessary, just bring your old computer equipment, televisions and peripherals, stereos, cameras, fax machines, gaming systems for drop off and proper disposal. The collection is at the County’s East Complex, 2300 E. Grand River (48843) at Chilson.


They also accept old cell phones, but drop those off at my office for the ‘Cell Phones For Soldiers’ campaign. We’ve collected over 2500 cell phones so far!

This event is free to County residents, and includes small businesses with 10 or fewer employees. Many hazardous substances can be found in electronics and this proper disposal will keep those contaminants out of landfills where they might filter back into ground water.

For more information, call 517-545-9609, or visit the website at http://www.co.livingston.mi.us/SolidWaste/

New facebook Real Estate Page Address

I've made it easier to find my facebook Real Estate page.  The old link was a bit cryptic, but the new one is simply, http://www.facebook.com/MichiganRE

New listings go here first, and there are periodic posts about buying, selling, and general real estate news entered throughout the month.  On the right side of this blog, you can also sign up for my newsletter if you wish.

Howell Condominium For Sale

This 1.5 story condo was built in 1991 and has 1412 sq ft. The entry level has a bedroom and full bath, a great room with vaulted ceiling and gas fireplace and a first floor laundry.  There's another bedroom and full bath on the second floor with a walk-in closet. This is an end unit with a deck and is bank-owned. The community is not certified for FHA loans. Those wishing to make an offer must have a Wells Fargo pre-approval letter.

The full basement is unfinished, the one car attached garage does not have a door opener.  The entire condo has just been repainted and recarpeted.  A new gas range, range hood, and dishwasher have also been installed.  Association dues are $110/month, and the community is within the Howell city limits so there is city water and sanitary sewer service.

A short walk to the Howell Carnegie Library and downtown.  Click here to see the full listing.

Be among the first to see new listings and get real estate news by "liking" my facebook Real Estate page.

Half of Foreclosure Aid Money Not Spent

Earlier this month, USA Today reported that over half of the $1 billion allocated to assist unemployed and underemployed people stave off foreclosure will not be used. The Emergency Homeowners’ Loan Program would have given up to $50,000 loans in 32 states and Puerto Rico.

Only 11,832 applicants of the total 100,000 were conditionally approved. It took almost a full year for the program to start taking applications, which left only a three month window in which to apply and be approved.

Under the terms of this program, homeowners could have received up to $50,000, which would be forgiven if they stayed in their home for at least five years. The program, administered by the U.S. Department Housing and Urban Development (HUD) was made possible by Wall Street reform legislation. Critics say that HUD added eligibility criteria that slowed the process.

A HUD spokesperson admitted a longer than anticipated ramp up, but also said the eligibility criteria defined by the law that created the program disqualified a higher than expected number of applicants. You can read the entire article here.

September 2011 Credit Suisse Survey of Housing Market

Each month, Credit Suisse surveys Realtors about their local market. September’s results were just released and for the metro Detroit area it concludes that buyer traffic and sales prices are down and incentives offered to buyers from new home builders are flat. Even with true, record low mortgage rates (below 4%!), there are skittish buyers, largely attributed to economic uncertainty.


While the most recent month’s home prices on new construction are holding steady, data indicates prices will drop in the next few months. Folks in the Lone Star State should be happy, though, as both Austin and Houston were showing signs of a modest rebound. On the other side of the spectrum, Charlotte and New York saw big declines in buyer traffic.

There are some new construction starts in the Livingston County market, but I wouldn’t call it a groundswell of activity. After the last couple of years, any new home building is a good sign. Construction is occurring in the Northridge Hills condominiums in the City of Brighton, and there are some homeowners building outside of large subdivisions controlled by the big building and development groups, too. If you want to build a home, you may have a little difficulty in finding a willing lender, but there are still a few out there doing new construction loans.

Brighton Country Club Annex Sub Attractive For First Time Buyers

Located in Brighton Township, just outside the Brighton City limits, this platted subdivision has been attractive for first time homebuyers for many years. Affordable ranch homes in Brighton schools, convenience to retail shopping and easy access to Interstate 96 and US 23 are some of the draws.

The boundaries are roughly Grand River Avenue to the south, Interstate 96 to the north, Old US-23 to the east, and the Brighton City limits to the west, and there are 179 homes in this sub. The Brighton Country Club subdivision is on the other side of I-96 and not included in this post.

The streets are all public, so they’re maintained by either the road commission or the township. Originally, the subdivision was served by community wells, but in January 2008, water service was transferred to the Livingston County Water Authority. The lots are predominantly 60 ft wide by 132 feet deep, although some are 90 feet wide. Some of the homes also have basements, but there are also some built on crawlspaces or slabs. Garages (when present) are typically two car variety and are most often detached. Most of the streets do not have through traffic, except for Burson which empties to Old US 23 on the east, and at Leland just north of Grand River on the west.

The housing stock consists of mainly ranch style homes in the 900-1200 sq ft range, most with three bedrooms and one full bath. You can find a few 1400+ sq ft homes, and some will offer an additional half or even full bath, but those are somewhat rare.

In 2008 there were 5 sales reported in the local MultiList System (MLS), all purchased by owner occupants with either FHA or conventional mortgages. The average sold price was $114,310 and the average time on market was 99 days. There were also 5 sales in 2009, but three were to investors buying for cash and the average sales price had plummeted to $67,010. Sales picked up in 2010 with 10 being reported. Three of these were investor-bought at an average price of $45,758. The other 7 were bought on either FHA (1), conventional (1) or USDA Rural Development (5) loans and were for owner occupants. The average price for these seven homes was $87,868.

So far in 2011 (as of 10/09/11), there have been 13 sales, 7 of which were to investors at an average price of $48,650, the rest going to owner occupants with an average sales price of $84,833. Many of the investor properties end up being rentals in the $800-900 range, but a few end of getting “flipped” to owner occupant buyers. The price disparity between investor purchased and owner occupant purchased homes shows that people are willing to spend more money for homes in better condition. If you don’t have the experience, time or money to do major renovations or big “DIY” projects, that is the way to go.

This neighborhood has become more affordable since the housing downturn, and with its location in Brighton Schools, the lower township property taxes, and a location that is great for commuters to Ann Arbor it has remained popular. Right now there are four for sale varying in price from $49,900 to $85,000. If I can assist you in your home search, please feel free to contact me via email or facebook.