Howell Real Estate News Apr 20 2016

Here’s the latest.  Inventory is just starting to improve, but so are the sales, so we’re not seeing much of a net increase – yet.  There are still a lot of expired listings, too.  Hopefully they will be back on the market in the next month or so.

Year to date we’ve seen 268 units sold at an average price of $208,060, or $117 per square foot.  This is a pretty typical number for Howell, but remember that new construction, lakefront homes and homes on large acreage will fall well outside this value.

Homes are still selling reasonably fast, 73 days on average since the 1^st of the year.

What’s it all mean?

Buyers still have to move quickly when they find a property they like.  I had multiple offers on a really low end property last week and the purchaser that prevailed moved quickly compared to the other interested parties.

Sellers, you still have a strategic advantage to list now instead of waiting for a month or two.  Take advantage of the lower competition and the buyer demand that is there now.  Interested about your home’s value? https://youtu.be/QFNTOL-qtps

Watch this week’s video here for a few more nuggets of info.  Feel free to call me at 810-220-1478 with questions.  Download the presentation in pdf format here.  

Howell Update on March 31 2016

The inventory of available Howell homes is at a low for the year at 198 units.  Even though we had 18 new listings in the last 7 days, 20 were sold in the same period, and when you count in expired listings and those pended (taken off market pending the sale), we're at a net loss.

For the 20 sold properties, the average days on market was 45 - a quick time period.  But the median time on market was a blistering 18 days!  Buyers - don't hesitate when you find something you like,  I want to throw in a pitch for LOCAL, full-time agents, too.  We know the little nuances of our market in ways that you can't decipher from looking at multilist statistics.  Plus, we can react faster and get you into a home quicker than an out of area agent.  

The average and median sales prices were very close, right around $200,000, and the price per square foot is within what we normally see for the Howell market, $100-$125/sq ft.

Sellers - if you've been waiting for warmth and sunshine but are able to list now you'll be doing yourselves a favor.  There is high demand and low inventory.  That will likely change by the beginning of May.  More competition usually gets you top price and the quickest sales.

If you're interested in the 18 new listings you can download a copy of them here, along with this week's analysis.  You can also watch my video report here.

Howell Real Estate Update - Valentine's Day Issue

It's Sunday, February 14th - Valentine's Day!  The current inventory is 244 units.  YTD in the Howell area we've had 80 properties sold and in the last 7 days, 8 have sold at an average price of $212,306. That's $100/sq ft. They were on the market for an average of only 41 days!

We saw 21  new properties come on the market in those same 7 days,  There are 9 rentals available via the MLS, but most rentals don't go in the MLS, so you'll have to do some leg work to find that perfect rental you're looking for.

Call me if you'd like a personalized, 1-1 Home Buying workshop. You get my free ebook at the end as a bonus.

Feel free to watch this week's video update here.  You can download this week's 21 new listings here.

Howell Real Estate Activity Feb 1 - 2016

This week’s Howell real estate market update shows 249 units of inventory (detached single family homes and condos).  There were 24 new listings in the last 7 days, more than we’ve seen since before Thanksgiving.  Sellers – there is great buyer activity out there. Do not wait until Spring to list.  You’ll have much more competition and it’ll be harder to get noticed.  Recent open house are showing a lot of buyer activity, too, many who have selected specific houses to match their needs.

There were 8 properties sold in the last 7 days at an average sales price of $206,488 or at $106/sq ft.  The average time on market for these sales was 88 days (time from list to sale), shorter than I would have thought.

The MultiList System (MLS) has 10 units for lease/rent.  Remember there is no ‘one stop shopping’ for rental property.  Most landlords don’t use the MLS.  Apartments do their own marketing, too, so there’s plenty of rental properties out there, you just have to hunt for them.

Click here to get a pdf file of this week’s new listings.  Check out my video update here.

Feel free to call with general Michigan real estate questions, too.  810-220-1478.

Howell Market Update Jan 04 2016

This week's report shows 265 units available through the MLS. Lower than typical, but not unexpected at this time of year.  In the last 7 days there were 8 new listings on the market and 15 sold - a little more than I expected.  I think there was a lot of push to get sales in for the 2015 tax season!

The 15 sales averaged $194,448 each, or $109/sq ft - right on target for Howell.  Note that lakefront homes, new construction and homes on larger parcels will command a premium from this figure.  Watch the market update video at:   https://youtu.be/026Tc3B3L34

The MLS shows 11 rental units (homes and condos), but Howell has a lot of apartments that are not reflected in this number. Generally, apartment rents are much more competitive and a great way for renters to save for that home down payment.

Analysis:  

Buyers - yes inventory is down, but work with a full-time real estate pro that can get you into properties quickly and you'll be successful.  The lower your price range, the shorter the inventory. $200,000 and under needs quicker action than $400,000 and higher.  Consult your LOCAL agent about these market dynamics.

Sellers - DO NOT WAIT FOR SPRING.  Let me repeat that.  DO NOT WAIT FOR SPRING.  You have much lower competition right now and buyers tend to be more motivated this time of year, too.  Call me to find out about my 'Marketing Edge' program to get your home sold quickly or watch my facebook page for regular real estate news, tips and updates.

Lakeshore Pointe Howell Real Estate Update November 2015

Back in August I did a short market report on the Lakeshore Pointe community in Howell.  This is a great community of about 248 homes in a fantastic location.   There are some lakefront homes, most are not, but all have lake access. The community has resident-only waterfront parks, picnic areas, walking trails and two marinas on all sport Thompson Lake.  There is no through traffic and the occasional speed bump on the private roads keeps things quiet.

The Homeowner's Association (HOA) does have architectural/aesthetic, vehicle storage, and landscaping guidelines and is professionally managed by a local property management company. Some people chafe at such restrictions, but generally they will help to keep the property values up by keeping a clean and consistent look throughout the community.

There are currently 5 active listings ranging from $215,000 to $515,000, two of which are larger lakefront homes. In the last 12 months, 14 homes have sold for an average of 98% of their list price.  This equates to less than a 6% turnover rate for the neighborhood, making it a stable community.

If you're thinking about selling in Lakeshore Pointe, or in the larger Howell area, call me for a detailed analysis of your neighborhood's prices and marketability.

Photo credit: Robert Smith, copyright 2015

Lakeshore Pointe in Howell Michigan

Lakeshore Pointe is a community of about 248 homes just off Golf Club Rd, between Grand River Avenue and Eager Rd.  Minutes from Chemung Hills Golf Club, downtown Howell and the new retail area developing around Latson/Grand River/I-96 interchange, this is a great location within the Howell school district.

There are some lakefront homes, but most are not.  All have lake access, however. The community has resident-only waterfront parks, picnic areas, walking trails and two marinas on all sport Thompson Lake.  There is no through traffic and the occasional speed bump on the private roads keeps things quiet.

The Homeowner's Association (HOA) does have architectural/aesthetic, vehicle storage,and landscaping guidelines and is professionally managed by a local property management company.

As of this post, there are five active listings, five pending listings and in the last 12 months there have been twelve recorded sales.  Only one sale was a distressed (bank-owned) property and because distressed homes are usually sold at a wide discount, it is removed from the stats below.

Two of the five active listings are larger lakefront homes.  They average out to a list price of $166/square foot while the three smaller, non-lakefront homes are at $126/square foot in price.

The 11 non-distressed sold properties were an average of 1807 sq ft (finished basement space excluded) and sold for 97% of the original list price and 99% of the last list price, at $129/square foot. On average, they took 83 days to sell.

Original List Price	$240,627
Last List Price	$236,618
Sales Price	$234,258

Generally, overpricing makes your competition look better and takes longer to sell your own home. You must always take updates into account when determining your listing price.

If you're thinking about selling in Lakeshore Pointe, or in the larger Howell area, call me for a detailed analysis of your neighborhood's prices and marketability.

Photo credit: Robert Smith, copyright 2015

Walk or Run Safely To Prolong Your Life, Not Shorten It

Running and walking are popular ways to get some exercise, stay fit, and to lose weight. Having been an avid runner I'm hyper-aware of staying safe where pedestrians and motor vehicles or bicycles intersect.  That's why a recent local incident was so hard to read.

A runner on a rural road was found some hours after a hit and run accident.  Still alive, he suffered life threatening injuries.  As I read the report I was immediately upset that the driver didn't stop; that they didn't try to make an anonymous call to emergency services; and then with the injured runner.

You see, the runner was clipped by the passenger side view mirror which means he was running WITH traffic instead of AGAINST traffic.  Because the police recovered the mirror itself they determined it was from a GMC truck or large SUV.  

Here are a few tips for everyone on foot, running or walking:

·         Use sidewalks or hike/bike paths whenever possible

·         Always face the traffic and stay as far left as possible

·         Wear lighter colored or reflective clothing and even carry a headlamp or flashlight if it's dark

City settings have other guidelines, too:

·         Cross streets at corners

·         Stop at the edge of a parked car and if traffic is present, make eye contact with the driver before you step into the roadway

·         Obey traffic signals, again making eye contact with drivers is a good idea before stepping into the street

·         NEVER let young children (10 and younger) cross alone

·         Older adults may need to allow more time to cross a busy street, too

When a pedestrian is struck by a vehicle, the pedestrians are killed or injured in over 80% of those incidents.  Go out and get your exercise, but please take a few precautions to stay safe.

image courtesy of Stuart Miles/freedigitalphotos.net

Realtors' Annual Food Drive for Gleaners

For the last 13 years, the Livingston County Association of Realtors (LCAR) have been collecting food and money for Gleaners Community Food Bank (GCFB).  It started out with just a downtown Brighton location at the millpond and was/is still called 'Fill The Gazebo'. But a number of years ago, we branched out to locations in Howell.  Some large markets gave permission for us to collect, too, and if you hit the main intersections of Brighton or Howell you'll see volunteers with containers to collect that pesky loose change that accumulates in your vehicle console.

Gleaners can amazingly provide 3 meals for 1 dollar. And by donating money instead of non-perishable food, there's less handling and loss.  But the food items are greatly appreciated, too. Livingston County is viewed by some as not needing this type of event, but the need is actually so great that we don't collect enough food within the County to serve our residents.  That's right, food has to come in from other Gleaners locations to meet the need.

So please plan to donate something.  A few bucks in loose change, a generous check made payable to "GCFB", or drop off food at these locations from 9:30 am to 1:30 pm on Saturday, May 2nd.

• Downtown Brighton's Millpond Gazebo on Main Street
• Howell Gazebo near the Livingston County Courthouse on Grand River
• GFS Marketplace in Brighton
• Kroger in Brighton, Howell, Hamburg and Hartland
• Wal-Mart in Howell and Hartland

Suggested items to donate: tuna, Spaghetti O's, canned meat, and chunky soup.   

You can also drop off food and checks at my office, Preview Properties, 130 W. Grand River, Brighton 48116 if you can't make the food drive.  Or you can make a monetary donation online that will get credited to our food drive and is tax deductible at:  www.gcfb.org/FilltheGazebo

Last year, we collected 5,300 pounds of food in addition to $11,431 in cash donations. This provided a grand total of 38,692 nutritious meals.

image courtesy LCAR

Livingston County Hazardous Waste Collection Days 2015

Livingston County has announced its dates for household hazardous waste collection.  Two sites will be in operation. One in Howell at 418 S. Highlander Way, 48843 (parking lot of Animal Control), and one in the Brighton/Green Oak Township area, in the parking lot just to the west of the Green Oak Fire Hall, Grand River and Alan Dr.

Appointments are REQUIRED and can be made by calling 517-545-9609. The dates are May 9^th (Howell), August 15^th (Green Oak) and October 10^th (Howell).  They are all Saturdays and the times are 9am – noon on those dates.

Automotive fluids, all kinds of batteries, wood stain, CFL bulbs, aerosol cans and much more can be properly disposed of at these collection events.  Please see theposting and click on the flyer for complete details. 

Again, they will not collect your materials unless you have an appointment, so make the call.  The environment thanks you!

Livingston Realtors Food Drive – May 4th

Every year the Livingston County Association of Realtors conducts their ‘Fill The Gazebos’ food drive in downtown Brighton and Howell .  May 4^th is the day for 2013. Cars can drive up and have volunteers take food donations, which are piled under the gazebos.

Collectors can also be found at some of the larger grocery stores, piling extra food into pickup trucks for the food drive.  Many local real estate brokerages are collection sites in the weeks leading up to May 4^th, also.  We load the food into trucks and it gets taken to the food pantry in Genoa Township, to serve our area’s hungriest families.

Please consider participating this year.  You can drop off food at Preview Properties real estate office (130 W. Grand River, Brighton 48116) before the event, or drive down Main Street in Brighton on May 4^th and have volunteers take it – you won’t even have to park (but you will have to stop!). The gazebo at the historic Howell Court House is another collection site.

I regret that I’ll be at a conference that day so I can’t volunteer, but I will be making my own food donation before that date.  Keep an eye out for sales and think about buying a few extra cans or boxes of food for the drive.  Some items that are wanted are meat sauce, macaroni and cheese, canned meat, peanut butter & jelly and cereal.  See the flyer here.

Market Observations For Howell Zip Code 48843

For homes in the Howell zip code 48843 (basically the Howell area south of M-59), there are some interesting contrasts between 2007 and 2008.

The total number of homes sold are pretty close, 370 in 2007 (through 12/31/07) vs. 378 in 2008 (through 12/4/2008). The fact that the total number of sales has remained pretty constant is a good sign by itself. With lenders getting tougher on loan requirements, required down payments and more underwriting scrutiny it shows that there are still buyers out there looking for homes - and they're able to buy!

If we look at just the foreclosed (also known as bank-owned or REO) homes, the picture is more grim. In 2007, there were 47 bank-owned home sales of the 370 total, or about 13%. For 2008, we’ve seen 115 bank-owned home sales out of the 378 total, or 30%. That’s more than double last year’s rate and this year’s data is not complete at this point.

The median price dropped from $209,750 to $170,000 (a 19% reduction) for those same time periods. That’s a huge drop in value, undoubtedly influenced by the higher number of foreclosures. But there’s also the fact that owner-occupied homes are dropping in price, too, as the entire housing market loses value.

The time to sell a home went down– from 145 days in 2007 to 134 in 2008 So, homes that sold did so about 8% faster in 2008 - a small bright spot, anyway.

If you absolutely have to sell, expect to take a hit from what your home was worth 2 years ago. At least 20%-25% is not uncommon, and it may be even more.

Activity Report - First Time Buyers Driving The Market

Single Family Home sales in Livingston County for the period of January 1st through May 31st have increased by 6% over the same period last year. The average sales price is down 12.9%, but at the end of April that figure was at 13.7%, so it appears that we're moving in the right direction.

Almost half of the sales (46%) are being attributed to first-time buyers. First-time buyers are defined by the U.S. Department of Housing and Urban Development (HUD) as:

- an individual (or spouse) with no ownership in a principal residence for the 3 years prior to the purchase of this home

- a single parent who has only owned a home with a former spouse while married

- a displaced homemaker who has only owned a home with a spouse

- an individual who has only owned a prinicipal residence not permanently affixed to a permanent foundation

- an individual who has only owned a property that was not in compliance with State, local or model building codes, and if that home cannot be brought into compliance with building codes for less than the cost of constructing a permanent structure

Condominiums continue to be a very good buy, too, although many first time buyers decline this type of home ownership because many lack basements for storage, they're intimidated by community regulations, and they don't want to pay the maintenance fees.

A future article will discuss the benefits and shortcomings of condominium ownership. If you have questions in the meantime, you're welcome to contact me directly. My blogging time has suffered due to a high increase in listing and selling activity, my community service commitments, and trying to keep a semblance of family time. You are always welcome to contact me via phone or email (available at my primary web site, http://www.RealEstateMich.com).

MDOT Closing Park 'n Ride Lot at M-59 and Michigan in Howell

Due to the expansion of M-59 to a 4 lane boulevarded roadway, this Park 'n Ride lot will close for good on February 4, 2008. The next nearest lots are at Michigan Ave and I-96, south of the Howell City Limits, and to the east on Old US-23 just north of M-59.

The project will also undertake ramp improvements at I-96 and M-59, resurface the road and make drainage improvements. Three bridges over M-59 will be totally replaced.

See this link for details. http://www.michigan.gov/mdot/0,1607,7-151-9621_11008_45330---,00.html

Groundhog Day Is On The Way

This Saturday, February 2nd is Groundhog Day. Groundhogs are also known as woodchucks, marmots, and even as land beavers and ground squirrels. They are widely distributed in North America, especially in the central and northeastern United States, and can weigh in between 4 and 9 pounds. There's no real relationship between woodchucks and wood. The name is believed to have originated from the Algonquin or Narraganset name for the animal, 'wuchak'.

Groundhog Day started in Pennsylvania and New York State as a prediction of how the last half of winter would proceed. If the groundhog comes out of his burrow to see his shadow, he goes back in to sleep for 6 more weeks, indicating a hard end to winter. If he sees no shadow, he remains out, forecasting a mild second half of winter.

Punxsutawney Phil of Punxsutawney, PA is the most famous groundhog weather forecaster in the United States, but Howell, Michigan has its own Woody the Woodchuck. Taking up residence at the Howell Nature Center, Woody will be making her 10th appearance this year, which could make her record 8 for 10 if she successfully predicts this year's last half of winter conditions.

Woody will appear promptly at 8:15 am, and the there is a new breakfast option available, too. $8 for adults, $6 for children under 12, and children under 2 years of age are free. if you're planning on breakfast, please call to make reservations by dialing 517-546-0249. The proceeds will support the Wildlife Programs at the Nature Center. Photos with Woody are also available for a small fee.

UPDATE: Woody's prediction was that Spring will be early this year!

Livingston County Non-Smoking Restaurants

I recently received an inquiry about non-smoking restaurants from somebody new to the County. I told him about the ones that I knew of personally, and began to keep notes as I was out and about and added others that I've heard about through friends. Just a few years ago, you would have been hard pressed to find a single non-smoking restaurant in the area.

Here are the ones that made it to my list. If you know of any others,
please drop me a line and I'll add them as they arrive.

Brighton
Bagels & Bites, 5757 Whitmore Lake Rd, 810.220.2333
Big Apple Bagel & BAB's Deli, 8705 W Grand River Ave, 810.220.4512
Brighton Bar & Grill, 400 W Main St, 810.229.4115
Great China, 5757 Whitmore Lake Rd, 810.229.5577
Grecian Island, 9994 E Grand River, 810.229.3101
Ocean Gardens Chinese, 8028 Grand River, 810.229.8888
Panera Bread, 8365 W Grand River, 810.225.0870
Red Robin, 8522 W Grand River, 810.534.1000
Scalawag's Whitefish & Chips, 5757 Whitmore Lake Rd, 810.229.1700
Thai Express, 114 W Grand River, 810.225.3656
Yum Yum Tree, 140 W Main St, 810.227.7780

Fowlerville
China Gourmet, 175 W Van Riper, 517.223.3800
Fowlerville Farms, 941 S Grand, 517.223.3488

Hartland
New Asia Chinese Restaurant, 10030 Highland Rd, 810.632.3288
Waldenwoods Resort, 2975 2975 Old US.23, 810.632.6400

Howell
Bob Evan's Restaurant, 3880 E Grand River, 517.540.0658
Copper Pickle Deli, 119 W Grand River, 517.540.9920
The Grand River Diner, 107 W Grand River, 517.548.5150
Holiday Grill of Howell, 1101 E Grand River Ave, 517.545.3959
Time Square Deli, 4785 E Grand River, 517.546.5151
Uptown Coffee House, 102 E Grand River, 517.546.1124

Commuter Expense Calculator - New!

(c) 2007 Robert Smith

I've just installed a new 'Commuting Expense Calculator' on two of my web sites. This calculator determines fuel and mileage costs and their effects on a monthly budget. Enter the mileage to work from two different cities, some other parameters, then the loan amount for a home in both of those cities. Click 'calculate' and see what comes out!

Livingston County Michigan is notoriously a commuter location. Whether you drive to Ann Arbor, Lansing, Flint, Novi, Southfield or Troy, you'll find this new tool useful.

Please visit my main web site at http://www.RealEstateMich.com or my secondary site at http://BrightonHomesForSale.biz to try this exciting new tool! The calculator is located at the bottom of the home page.

My thanks to the developer, Joel McDonald of AutomatedHomefinder.com and BenchmarkRealtyLLC.com for the opportunity to provide this tool to my clients, customers and web site visitors.

Howell Opera House gala Celebrates 126th Anniversary

The Howell Opera House will celebrate its 126th anniversary with a gala event from 8pm till midnight on December 29th. Actually a day early of the true anniversary of December 30th 1881, funds will be used to help with the second floor restoration.

Tickets are $85/person ($75 if you're a member) and Livingston Arts Council organizers expect a capacity crowd of 200. Dancing, a silent auction, hors d' oeuvres and tours of the second floor will be on the agenda.

The Opera House was closed by the Fire Marshall in 1924 and had been in use as a venue for entertainment, speeches by presidential candidates to high school graduations and even a short stint as Livingston County Circuit Court.

The long shuttered second floor (above Gill-Roy's Hardware Store) helped to preserve this gem of a structure. For reservations, call the Arts Council at 517-540-0065.