Saline real estate market report for March 2014

Here’s the latest Saline real estate market report for March 2014.  This is an update to my monthly sales report from the beginning of the month.  (Original article by Vance Shutes).  Let’s take a look at how the market for Saline homes looks right now:

Each month, I review all of the homes for sale (column 2, “available”) in the Saline school district within defined price ranges (column 1), and those homes where the sellers have accepted a purchase offer from a buyer (columns 3 & 4 – Percent Pending).  I also review all of the sales in past 30 days in each price range (column 6).  The results for March 2014 are shown in the table below:

The number of homes actively for sale fell again this month, from 95 in February to 90 now – another seasonally-expected result, but still a decline – and most of it likely due to the continued bad weather!  Recall that we were in the 180’s last summer, and nearly 400 back in 2008.  When you’re buying a home, having plenty to choose from is a good thing.  When you’re selling a home, less competition is good, so having fewer homes on the market is  good for sellers - at least, for now.

The number of homes with a pending sale (where the seller has accepted an offer) rose significantly this month, from 28 last month to 48 now.  This is another seasonally-expected result - after all, we’re in the “Spring” selling season (though you wouldn’t know it from the weather!). 

The months of supply (an indication of how quickly homes are selling) is now at 9 months, which is well above our “normal” market range of 3-6 months. I wouldn’t worry too much about this – it’s only worse due to the bad weather (temporarily) suppressing sales.

Let’s take a look at the overall strength of the market for Saline real estate going back since 1996.

The chart above shows a historical view of the percent pending in the Saline real estate market.

You can definitely see the strength in our real estate market last spring (2013), when we hit the highest percent pending that we’ve ever hit since I’ve been recording data since 1996!  We have likely escaped our winter low in percent pending, and at 35% pending in March, we’re in very good shape for setting a new record high later this spring - as long as our inventory levels remain steady, and demand surges with the warmer weather.

I’ll continue to monitor our market conditions, which I review with home sellers when they are considering whether to market their home.  You can make better decisions when you know the overall condition of our market for Saline real estate.

If you want to be the first to know about conditions in the market for a Saline home or condo, please subscribe and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter, Facebook, Flickr, or Google+.

See you next time!                    

Saline real estate market report for February 2014

Saline real estate market report

Here’s the latest Saline real estate market report for February 2014.  This is an update to my monthly sales report from the beginning of the month.  (Original article by Vance Shutes).  Let’s take a look at how the market for Saline homes looks right now:

Each month, I review all of the homes for sale (column 2, “available”) in the Saline school district within defined price ranges (column 1), and those homes where the sellers have accepted a purchase offer from a buyer (columns 3 & 4 – Percent Pending).  I also review all of the sales in past 30 days in each price range (column 6).  The results for February 2014 are shown in the table below:

The number of homes actively for sale fell again this month, from 103 in January to 95 now – another seasonally-expected result, but still a decline – and most of it likely due to the harsh weather!  Recall that we were in the 180’s last summer, and nearly 400 back in 2008.  When you’re buying a home, having plenty to choose from is a good thing.  When you’re selling a home, less competition is good, so having fewer homes on the market is  good for sellers - at least, for now.

The number of homes with a pending sale (where the seller has accepted an offer) rose slightly this month, from 25 last month to 285 now.  This is an unexpected result, but sales in January are mostly due to showings in December, when the weather wasn’t quite as harsh.  We might expect to see this number fall next month, due to the weather for showings in January.

The months of supply (an indication of how quickly homes are selling) is now at 7.3 months, which is above our “normal” market range of 3-6 months.

The overall market for Saline real estate     

Let’s take a look at the overall strength of the market for Saline real estate going back since 1996.

The chart above shows a historical view of the percent pending in the Saline real estate market.

You can definitely see the strength in our real estate market this past spring, as we hit the highest percent pending that we’ve ever hit since I’ve been recording data since 1996!  We may have seen our winter low in percent pending, having bounced up from a (probably temporary) “Buyer’s Market” condition in January!  As long as our inventory levels remain steady, and demand surges next spring, we may yet see a higher percent pending next year.  If not, we’ve seen the best of our market for a while – and maybe for a LONG while.  Time will tell on that.

I’ll continue to monitor our market conditions, which I review with home sellers when they are considering whether to market their home.  You can make better decisions when you know the overall condition of our market for Saline real estate.

If you want to be the first to know about conditions in the market for a Saline home or condo, please subscribe and get all the latest news from this blog delivered directly to your RSS reader or e-mail.

Saline is a great place to live, with great access to the freeways to Detroit, Jackson, Brighton, and beyond (via Metro Airport), which is only about a half-hour away.

At Mill Pond Park, you can picnic, fish, take your dog for a run, or sled in the winter.

In Saline, you’ll find Dan’s Downtown Tavern, Mac’s Acadian Grill, Brecon Grille, Mangiamo, and the Saline Inn.

Ann Arbor is only 10-minutes away, where you’ll find the University of Michigan campus, Briarwood mall, Hill Auditorium (for World-class musical performances), and the Ann Arbor Art Fairs in the summer.

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market, and check out what others have been saying about me.  I’d be happy to meet with you!  Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Follow me on Twitter, Facebook, Flickr, or Google+.

See you next time!                    

5755 Shelly Court, Saline

Take a look at this beautiful home for sale located at 5755 Shelly Court, Saline, priced at $439,000.

Welcome to 5755 Shelly Court in the Harvest Ridge subdivision of Saline! Imagine a peaceful ranch home in the country. You’ll find it in this well-built/maintained 3 bedroom custom-designed home. The secluded, quiet setting boasts gorgeous views. The high ceilings throughout offer a spacious feel. There are new floors in the main living area, the bedrooms, and the finished daylight walk-up basement. The natural oak kitchen & dining nook overlook a layered deck. There’s room for storage in the 2-car attached + 2-car bonus garage/workshop. A huge new Master bath is framed but incomplete. You’re minutes from everything. Don’t miss it!


View 5755 Shelly Court in a larger map

Here’s a brief walking tour of the main floor of this home:



…and a tour of the finished daylight lower level:



You can see dozens of photos of 5755 Shelly Court here.

Notables:
     * Lodi Township
     * Taxes $5385 (2009, Homestead)
     * Schools: Saline

If you’re considering luxury living in Saline, you owe it to yourself to check out this beautiful home. I’d be happy to give you a tour, so talk to someone with local knowledge! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate.com”.

3309 E. Dobson, Ann Arbor

Take a look at this beautiful home for sale located at 3309 E. Dobson, Ann Arbor, priced at $895,000.

Welcome to 3309 E. Dobson in Ann Arbor! This Woodlands home has a classic layout with designer updates. As you approach the home, a new brick covered front porch greets you. Inside, you’ll find a formal dining room, new master bath and a new guest-suite bath. The kitchen features oak floors, cherry cabinetry, and granite counters. The breakfast nook overlooks a huge deck and private wooded back yard, which is loaded with nature. The family room features a soaring stone fireplace, with other fireplaces in the living room and master bedroom. Double furnaces keep you comfortable throughout the house. You’re less than 10 minutes to the hospitals (UM, VA, SJ). Don’t miss it!



View 3309 E. Dobson in a larger map

Here’s a brief walking tour of the main floor of this home:



…and a tour of the upper level of this home:



…and a tour of the finished daylight lower level:



…and a couple of views of the back yard and deck (taken during the summer):







You can see dozens of photos of 3309 E. Dobson here.

Notables:

          * City of Ann Arbor

          * Taxes $18,667 (2009, Homestead)

          * Schools: King, Clague, Huron

If you’re considering luxury living in Ann Arbor, you owe it to yourself to check out this beautiful home. I’d be happy to give you a tour, so talk to someone with local knowledge! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate.com”.

Saline - Tree City USA

Did you know that Saline is a participant in Tree City USA? Do you know what Tree City USA is? (Original article by Vance Shutes). Let’s take a look at that today.

Tree City USA is a designation given by the national Arbor Day foundation. Saline has been a part of Tree City USA for six years (since 2004). It’s even noted on the street signs as you approach Saline!

In order to qualify for Tree City USA status, a city must meet four standards established by The Arbor Day Foundation and the National Association of State Foresters. These standards were established to ensure that every qualifying community would have a viable tree management plan and program. It is important to note that they were also designed so that no community would be excluded because of size.

1. A Tree Board or Department
2. A Tree Care Ordinance
3. A Community Forestry Program With an Annual Budget of at Least $2 Per Capita
4. An Arbor Day Observance and Proclamation

Arbor Day in Michigan is the last Friday of April.

Our state tree, the Eastern White Pine, is more prevalent in northern Michigan, but that doesn’t mean that Saline is without the State tree. I recall my daughter receiving a White Pine seedling on one Arbor Day during her elementary school days. That tree is now approaching 10’ tall in my back yard. So the Arbor Day Foundation efforts have definitely had an effect on the Saline community.

Take a look along the sides of the roads approaching Saline and see if you spot the Tree City USA signs. Saline – Tree City USA.


If you’re looking to do anything with Saline real estate and become a part of Tree City USA, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Resolutions in 2010 for Saline real estate

I’m not one of those folks who puts much emphasis on “New Year’s Resolutions,” but I’m up for making some Resolutions in 2010 for Saline real estate. (Original article by Vance Shutes). Let’s take a look at that today.

There are now 301 days until November 5, 2010, when we VOTE THE INCUMBENTS OUT!

The first of my Resolutions in 2010 for Saline real estate is something that you’ve seen near the top of each article for the past couple of weeks. I’m tired of the “status quo” here in Michigan. I’m resolved to making a wholesale change in our elected officials. VOTE THE INCUMBENTS OUT! Is my motto for the year! Heck, newly-elected officials at every level of government for Michigan CANNOT do any worse than those who have bungled us into the mess we have today! Let’s get some fresh ideas going in Lansing and in Washington, DC.

The next of my Resolutions in 2010 for Saline real estate has to do with marketing and visibility. If you’re a regular reader of this blog, then you know that I write here daily, six days a week. Collectively, there’s a ton of information here for both buyers and seller of Saline real estate. While I’m pleased that this information has become visible, it’s my resolution to make it even more visible in 2010. My clients expect that, and I expect it of myself!

The last of my Resolutions in 2010 for Saline real estate has to do with you, my readers. While I’ve been pleased to have an occasional comment on these articles, what I’d really like is to build some conversations with you about these articles. Do you agree or disagree with the premise of each article? Have I missed something that you’d like to see covered?

So there you have my Resolutions in 2010 for Saline real estate. Thanks for reading!

If you’re looking to do anything with Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

Uh Oh! A sewer backup!

When you wake up in the morning, or you return home after work, you never want to hear “Uh Oh! A sewer backup!” If you do, your next thought would likely be “Will my homeowner’s insurance cover this?”

Spring and Fall tend to be our wettest seasons in Saline (this past Spring was, for sure!), making our homes most susceptible to the backup of sewer or drain lines. While these events don't occur often, when they do, the problem can be a small disaster (I know first-hand, as one of my rental properties had such a backup recently). Did you know that a standard homeowner's insurance policy excludes coverage for such an event?

It's true. The backup of sewer and drains, as well as the failure of a sump pump, is excluded from most homeowner’s policies. The damage you sustain from either of these problems will not be covered, and you'll be responsible to pay for the loss (and the clean up). If you have a finished basement, or use your basement area for storage, you shouldn't go without this coverage endorsement.

Heavy rains can trigger a backup. A storm sewer or sanitary sewer backs up into your home and usually comes in through a sump well, washtubs in the basement, or toilets in the basement. However, the damage can happen anywhere in the house. Sump pump failures normally occur from power outages or motor failures. Sump pumps run on electricity, and during a bad storm, the power can go out. That’s when you need the sump pump the most, to pump the water from the heavy rain out of the basement.

The damage can be quite costly. Normally damage occurs in the basement, which houses the mechanical systems of the house, such as the furnace, hot water tank, washer and dryer, and the numerous items we tend to store there. Water or sewage usually destroys anything it comes in contact with. For the possible thousands of dollars in damage, it would be well worth purchasing additional coverage with your homeowner's policy to cover such an event.

Be sure to ask your insurance agent about this coverage (to make sure you already have it on your policy). This coverage can often be purchased as an endorsement on its own, or with an endorsement that will expand or increase other coverages on the policy. The additional cost runs typically between $60 and $90 annually (well worth the peace of mind it brings). The key is to ask your agent or company what you best option is, and BEFORE you need. That way, you can breathe a bit easier when you hear “Uh Oh! A sewer backup!”

If you like what you’re reading here, please subscribe. Thanks!

If you have questions about your specific situation, or if you’re considering buying or selling any Saline real estate, you owe it to yourself to take advantage of my experience in the Saline market. I’d be happy to meet with you! Just give me a call at (734) 476-2063, or send an e-mail, “Vance (at) SalineMichiganRealEstate (dot) com”.

You can search for homes and condos in Saline here.

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