South Lyon Real Estate News April 7 2016

I'm starting to feel somewhat like a time loop.  Over and over and over again.  South Lyon inventory is flat.  No significant difference since the first of the year with 211 units currently available.

New listings have also been flat since the middle of March with 25 new listings in the last 7 days.  Time on the market for the 14 solds last week has slightly lengthened, now at an average of 98 days, although the median time on market is a more reasonable 70 days.

The average sales price last week was $304,547 or $134/square foot, pretty typical for this market area.

Market insights?  Sellers, don't wait for the warmer weather to list unless you have exterior work to do on the house.  Buyer demand is healthy with lower inventory, especially in the $350,000 and under price points.

Buyers, please work with a full-time local agent that knows your market inside out and backwards.  Any licensee can complete a purchase agreement, but how many of them can help you with getting all the info you need to make the best decision possible?  

You can watch my video report here or get a copy of the full market statistics and last week's new listings here.

Bob Smith has 17 years experience working the South Lyon real estate market.  Call for a home valuation.

Weekly South Lyon Real Estate Market Feb 09, 2016

The South Lyon area is mostly in Oakland County, but parts of it range into northeast Washtenaw and southeast Livingston Counties, too.

Inventory in the South Lyon area continue to decline, we're now at 216 units.

There were 17 new listings in the last 7 days (click here to get them in a pdf file). You can see my video report here.

In the last 7 days, there were 6 sold residential properties (detached homes and condominiums), averaging a sales price of $303,528, or $132/sq ft.  These 6 homes sold in an average of 51 days!  Remarkable when you consider that it takes 30-40 days to close a conventional or FHA mortgage. That means these homes are going under contract in the first 10 days on the market.

There is a lot of new construction in the South Lyon area, and builders often only place one model in the MLS, so there's likely more than what is showing for inventory.  But builders are still not putting up 'spec' houses, preferring to get buyers under contract before they start to build.

Buyers - don't hesitate. Be sure you're working with an agent that can get you into homes quickly or they will be gone.  If you're interested and not working with an agent yet, I have a great workshop that we can do one-on-one that will answer most of your questions.  Even 'experienced' buyers will learn a thing or two from this session.

Sellers - your competition will NEVER be lighter than right now.  DO NOT WAIT UNTIL SPRING to list unless it's absolutely necessary.  At this time of year there are fewer buyers that are 'tire kickers' and more that are SERIOUS.

Follow my facebook page to see local real estate news, tips on buying, selling, decorating and home maintenance and more!   http://www.facebook.com/MichiganRE

New Mobile Real Estate Web Site

I’d like to introduce you to my new mobile real estate web site.  You can visit my regular site on a desktop/laptop/most tablets in the usual way by going to http://www.RealEstateMich.com, but if you visit it from your Smartphone (and some smaller screen tablets), you’ll automatically be transferred to my new mobile site.  It’s been maximized for easy viewing and navigation on the smaller screen.

It doesn’t have everything that my legacy site does, but you can look at featured listings, do a full MLS search via the Internet Data Exchange (IDX) (this is what feeds Realtor.com, Trulia and Zillow, by the way) and you can read some of my consumer tip documents, too.  There is also an option to transfer over to my full web site if you wish. Or maybe you just want to check the most recent mortgage interest rates. You can do that, too. If there’s something you would like to see added, please use the ‘contact’ buttons to recommend an addition.

A colleague recently asked me why I would spend the time and money to develop a separate mobile web site.  My answer is that as more and more consumers use their smartphones for real estate information, it only makes sense to give them the best service possible.  Honestly, the cost including the real-time data feed is less expensive than my regular web site and in my opinion, it’s money well spent.  Anything that improves client communication and service is money well spent to me.

Please feel free to stop by and check out the new mobile real estate site.  I hope that you’ll bookmark it and use it frequently.  There’s also a link to my facebook page, and I would appreciate it if you stop by and give it a ‘like’.  You can easily contact me by email, text or voice call from the new mobile site with a single touch of the screen, too. 

I’d like to recommend Jake Freeland and MobileHippo for their innovative and affordable mobile solutions, especially for the real estate industry. While they’re a local company, I understand they provide solutions in other states, as well. If you’re interested in a mobile site for your business, you can reach Jake via email at Jake@MobileHippo.com or contact me for his phone number. Oh, yeah, and contact me from my mobile site and see how easy it is.