How's The Housing Market in Howell?

Like many other parts of the country, local demand is outpacing supply.  Even with some new construction in the area, there is still not enough inventory.

Last week, there were 14 homes sold at an average price of $208,486, or $114/sq ft.  These homes sold remarkably fast on average - just 45 days!  We also had 20 new homes come onto the market.  I know what you're thinking.  Hey!  14 sold and 20 new listings?  That sounds like inventory is replenishing itself to me. 

Au contraire.  When you take into account the expired listings, those that went pending (an off-market status), and the consumer-requested withdrawals, we're at a decided net loss.  You can download the weekly new listings here and watch this week's update video here.

If you're a seller that's waiting for spring and has the ability to adapt quickly, this is a great time to list.  Motivated buyers and far less competition than you'll see in another month or two.  Feel free to request a home valuation here.

Buyers, if you're looking for a home in Howell, please consider working with a local, full-time real estate professional (like me) :-).  Working with an out-of-area agent that doesn't know anything but the basic geography will not be able to add quality to your home search.  And I practice what I preach.

Last year I had 5 outbound referrals so clients could get the best possible service by an agent from the area in which they were interested.  Why would I do that?  Because I am committed to the best possible service - and because you deserve the best possible service.

photo credit R. Smith

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

New Buyers Alert - Recorded Deed Notice Scam

When you buy a property, a deed is signed at settlement (closing).  It goes to the County Registrar of Deeds for recording and is mailed back to you. Depending upon the County, it may be a few weeks to even a few months.  Any recording fees were paid at closing.

There are companies that are sending out very official looking notices, complete with 'respond by' dates to new homeowners.  They want you to get a 'Current Grant Deed' and 'Property Assessment Profile', you can pay by phone (usually an 888 toll free number), and charge $83.  These documents are worthless and they are NOT your real deed.

Sometimes these official looking notices come to homeowners before the true deed arrives in the mail.  Please don't waste your money.  If you have questions, contact your Realtor, the title company that handled your settlement or your County Registrar of Deeds.

And as always, feel free to call me with real estate questions.

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