Green Oak Township is located in the SE corner of Livingston County. It starts right at the county line and portions of the Whitmore Lake, South Lyon and Brighton School Districts fall within its boundaries. Zip codes that serve the township are Brighton (48116), Whitmore Lake (48189) and South Lyon (48178). It has seen some large commercial developments along the US-23 at Lee Rd in recent years. I think it also leads the county in number of traffic roundabouts installed, with three at the Lee Rd/US-23 exchange.
There’s also a lot of recreation space in the township. The entire 1500 acre Huron Meadows Metropark falls within its border, as does most of the 4000 acre Island Lake State Recreation Area. Moose Ridge Golf Course is in Green Oak as is the northern end of all sports Whitmore Lake (including the public DNR boat launch).
During the week of March 18th, two homes were reported as being sold. The first one at 11508 N. Main Street, Whitmore Lake, was noted as being sold ‘as is’ and ‘needing some work’. It was a 1950-built ranch (cottage?), fair market sale (no short sale or foreclosure), 1122 sq ft, 2 bed/1 bath on a 0.21 acre lot. Originally listed at $50,000 it was reduced in price to $40,000 and sold for $34,000 cash after 135 days on the market.
The second sale was a ranch built on a slab in the Willmor sub at Lee & Rickett Rds. Built in 1956 it has 3 beds/1 bath and sits on a 0.21 acre lot. Offered at $64,900 it sold for $63,000 in just 17 days and was financed with a conventional mortgage.
There were also 10 new listings, ranging in price from $49,990 to $499,900 during that week. Two homes went under contract but had contingencies to work through (financing, inspection), one expired listing came back onto the market, and two homes had price reductions.
Two homes changed status to ‘pending’ (contingencies resolved, working towards closing) and one home was taken off the market.
This year (through 3/24/2012), there have been 38 sales in Green Oak Township, with an average sold price of $169,445 and an average of 86 days on the market. The highest sales price was $348,000 and the lowest $34,000.
Monday, March 26, 2012
Thursday, March 15, 2012
Local Spotlight - The Wooden Spoon
This morning's Detroit Free Press has a very nice article about one of Brighton's newest restaurants, the Wooden Spoon, site of the former Mexican Jones restuarant.
Are you a 'foodie'? A lot of great food talk here, and a nice foray into owner/chef Steve Pilon's dedication to using local ingredients, too. The remodeled building is very attractive, although the kitchen is still relatively small. Lunch business is by ordering at the counter. Dinner has wait staff and in good weather, there is also patio seating.
My wife and I have eaten here and the food is very, very good. If you haven't been here yet, take the time to visit. The food will not disappoint. Read Sylvia Rector's article on the Detroit Free Press web site here.
Are you a 'foodie'? A lot of great food talk here, and a nice foray into owner/chef Steve Pilon's dedication to using local ingredients, too. The remodeled building is very attractive, although the kitchen is still relatively small. Lunch business is by ordering at the counter. Dinner has wait staff and in good weather, there is also patio seating.
My wife and I have eaten here and the food is very, very good. If you haven't been here yet, take the time to visit. The food will not disappoint. Read Sylvia Rector's article on the Detroit Free Press web site here.
Monday, March 12, 2012
Recent Genoa Township Sales
Here’s a list of the sales in Genoa Township for the first week of March 2012 (March 1-March 8).
$485,000 – 5861 Hartford Way, Pine Creek Ridge
This was a new build that sold quickly. It’s listed as 1 day on the market and was listed at $399,900. My guess it went under contract earlier in the construction process and the buyers wanted some upgrades that increased its value. It’s great to see more new construction popping up in the area again. Brighton schools.
$236,000 – 5440 Sharp, East Crooked Lakefront
This was my listing and it sold in 15 days for $16,000 OVER list price. Pretty deplorable condition and it took a lot of groveling to get the bank to list it in ‘as in’ condition, but it received multiple offers because there’s just not any Crooked Lakefront property out there. Both were cash, as-is offers. It got 18 showings in the first 10 days! Normally, I’m pleased to have banks do rehab work on foreclosures to make them more marketable, but they would have lost money on this one and it was very likely a new owner would do massive remodeling anyway. It really needed an owner that would be able to see beyond its current condition to see its potential. Howell schools.
$146,000 – 6369 Sundance Trail, Prairie View Hills
This was another foreclosure, first listed at $166,900. Owned by Fannie Mae (FNMA), it sold in 48 days, but at a $20,000+ discount from list price. Its last sale showing in the MLS was in 2004 for $278,900. That’s quite a discount, even for a 1974-built home. Brighton schools.
If you want to buy a Genoa Township home, give me a call. I’d love to help you.
$485,000 – 5861 Hartford Way, Pine Creek Ridge
This was a new build that sold quickly. It’s listed as 1 day on the market and was listed at $399,900. My guess it went under contract earlier in the construction process and the buyers wanted some upgrades that increased its value. It’s great to see more new construction popping up in the area again. Brighton schools.
$236,000 – 5440 Sharp, East Crooked Lakefront
This was my listing and it sold in 15 days for $16,000 OVER list price. Pretty deplorable condition and it took a lot of groveling to get the bank to list it in ‘as in’ condition, but it received multiple offers because there’s just not any Crooked Lakefront property out there. Both were cash, as-is offers. It got 18 showings in the first 10 days! Normally, I’m pleased to have banks do rehab work on foreclosures to make them more marketable, but they would have lost money on this one and it was very likely a new owner would do massive remodeling anyway. It really needed an owner that would be able to see beyond its current condition to see its potential. Howell schools.
$146,000 – 6369 Sundance Trail, Prairie View Hills
This was another foreclosure, first listed at $166,900. Owned by Fannie Mae (FNMA), it sold in 48 days, but at a $20,000+ discount from list price. Its last sale showing in the MLS was in 2004 for $278,900. That’s quite a discount, even for a 1974-built home. Brighton schools.
If you want to buy a Genoa Township home, give me a call. I’d love to help you.
Thursday, March 08, 2012
Housing Market Activity
There seems to be a lot of activity in the housing market right now. As well it should. We are seeing ridiculously low mortgage interest rates (floating just over and under 4% for 30 yr loans), housing prices are (finally) starting to creep upwards after years of decline, and the buyers that are ready to move out of rentals recognize this is a great time to purchase.
We are seeing low inventory levels, lower than what I consider 'desirable', which makes buyers do a lot of shopping. And a lot of the inventory is in a condition that doesn't suit itself to quick decisions on writing a purchase agreement. But buyers that miss a few opportunities figure out the winning game plan.
1. Get new listings reviewed quickly, first on screen, then as a drive-by.
2. Get into the ones you want to see as fast as possible.
3. Write a fair offer.
The last one is very subjective, but understanding that any home priced at 'market' value and in decent or good condition will receive multiple offers is important, too. In most cases, you will get a chance to come back with your 'highest and best' offer. Highest, as in price, and best, as in terms.
If you're mainly looking at short sales, you need patience as a Number 4 on the above list. Foreclosure homes sell quicker as a rule, but you may need to consider a rehab loan or doing a lot of work before moving in to the house, so it's not for everyone.
If you're thinking about buying a house in Brighton or selling a house in Howell, call me. I also work other areas, and I can always refer you to a good agent in other markets if necessary.
We are seeing low inventory levels, lower than what I consider 'desirable', which makes buyers do a lot of shopping. And a lot of the inventory is in a condition that doesn't suit itself to quick decisions on writing a purchase agreement. But buyers that miss a few opportunities figure out the winning game plan.
1. Get new listings reviewed quickly, first on screen, then as a drive-by.
2. Get into the ones you want to see as fast as possible.
3. Write a fair offer.
The last one is very subjective, but understanding that any home priced at 'market' value and in decent or good condition will receive multiple offers is important, too. In most cases, you will get a chance to come back with your 'highest and best' offer. Highest, as in price, and best, as in terms.
If you're mainly looking at short sales, you need patience as a Number 4 on the above list. Foreclosure homes sell quicker as a rule, but you may need to consider a rehab loan or doing a lot of work before moving in to the house, so it's not for everyone.
If you're thinking about buying a house in Brighton or selling a house in Howell, call me. I also work other areas, and I can always refer you to a good agent in other markets if necessary.
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