Brighton's 150th Birthday Party - August 13, 2017

Brighton, Michigan will be celebrating its 150th birthday on Sunday, August 13, 2017.  A full day of activities will keep you coming back throughout the day.  

Activities include a community picnic from noon to 4pm, an 'old town' setup on Main Street, and photographs from Brighton's past in the COBACH Center, home of the Brighton Historical Society. There are many other activities, too.  

Also, the Brighton Kiwanis Sunday Concert at the Gazebo starts at 7pm, with the the band 50 Amp Fuse.  There is also a classic car show on Main street beginning at 5pm.  For the big birthday bash you'll be treated to a laser light show immediately after the concert ends, around 9:15 pm.

You can read a longer article about this event at:
http://marketeer.ws/Events/Aug13_Brighton150Years8-Web.pdf

Check out the facebook event page at:
https://www.facebook.com/events/392239171155178/

Sellers Market? Buyers Market?

If you're selling you definitely want it to be a sellers market.  But what does that really mean?  It's all supply and demand.

If the demand is greater than the supply it is a sellers market. The reverse, it's a buyers market.  Some times we experience a 'balanced' market.  So here's how to figure it out. In real estate, if the supply of homes in a given price range is under 6 months, it is a sellers market. If the supply is around 6 months it's a balanced market.  Supplies over six months is a buyers market.

Real estate practitioners talk about 'absorption'.  That means that if you divide the current inventory by the number of average monthly sales for the last 12 months,  you get the months supply.

Right now (8/1/2017)  in Livingston County we are overall in a sellers market with a total absorption of 3 months, across ALL price ranges.  But in the $151,000-$200,000 range (popular with first time home buyers), the months supply is only 1.5 months. You got it - Sellers Market!!

$401,000-$500,000 is a 5.7 month supply, or a balanced market.  Go to $501,000 - $750,000 and we have 15.6 months of supply - a very strong buyers market.  So you need to have a better reference point than just your whole county, or township, or city.

We can take this a step further and break down by school districts or even neighborhoods if the neighborhood is big enough.  It doesn't work well in a community of 60-70 homes.

image courtesy of renjith krishnan/freedigitalphotos.net