Friday, August 31, 2007

Friday photos

Now that the summer vacation season is at a close, it's time to look back on the vacations we took.

Right after school ended in June, my family and I headed out west. We hit all the major sights along the way - The Badlands, Mount Rushmore, Devil's Tower - to our destination of Yellowstone National Park and Grand Teton National Park.

Here's a view of Mount Moran, in the Teton range, as reflected in the Snake River.

If you've ever been there, you know how captivatingly beautiful the Teton range really is!
More photos of our trip in future Friday posts.

Thursday, August 23, 2007

August Market Statistics

Since 1996, I have been keeping track of the residential real estate market strength in Washtenaw County. On the chart, you'll see the latest update for August 2007, including two horizontal lines, for "Buyer's" and "Seller's" market levels.

Let me explain the data that makes up this chart. I keep track each month of the number of homes available - that is, those that are actively being marketed. I also keep track of the number of homes that have gone "under contract" - that is, where the sellers have accepted an offer, but it hasn't closed yet. The chart shows the percentage you get when you divide the number of homes "under contract" by the number of active plus "under contract" homes. What this tells us, really, is the pace of sales.

You can see, right off the bat, that there is some seasonality to the chart. The highs are typically hit in June or July, with the lows in January or February.

At this time, (August, the middle of the third quarter of the calendar year), the Washtenaw County market is in "Buyer's" market conditions. What this means is that there are more homes coming on the market than are being sold, so that buyers have the ability to choose. Buyers also have the negotiating leverage, especially on price.

This chart shows the underlying data from the first chart. The upper line (black) shows the number of homes available for sale on the market, the lower line (blue) shows the number of homes where the sellers have accepted an offer.

It is very clear from this chart what the root cause of our “buyer’s market” really is – it’s the number of homes available for sale. Since 2003, the number of homes for sale has steadily increased – in fact, it has more than doubled! The good news out of this chart is that the number of sales has remained relatively stable, although the sales are clearly cyclical based on the calendar.
So what does this all mean to you? If you’re looking to sell, realize that you have A LOT of competition in the marketplace. It takes a skilled marketer to make your home stand out among the crowd. If you’re looking to buy, well, you have so many more homes to choose from, and no pressure to “buy now” before someone else comes along!
I look forward to your comments regarding this post.

Friday, August 17, 2007

What's The Point?

There are so many blogs on the web today, so you might ask “What’s The Point?” in creating a new one? The point of this blog is to present my observations and opinions on the state of the residential real estate market in the Ann Arbor area in Michigan.

I began my career as a full-time Realtor in 1994, following experience as a Plant manager, Materials manager, and Quality Assurance manager for local Automotive suppliers. I presently hold the title of Associate Broker with Real Estate One – Ann Arbor. I am also a graduate of the Realtor Institute (GRI).

In my career, I have closed over 230 transactions, for over $42 million in total sales. I grew up in Ann Arbor (Newport, Forsythe, Huron HS) and presently live in Saline with my family. I have sold properties from South Lyon to Dundee, from Clinton to Canton, and specialize in my “hometowns” of Ann Arbor and Saline.

My clients have recognized my professionalism and attention to detail. I have earned the designation of QSC, or Quality Service Certification, which less than 20,000 of the nation’s 1 million+ Realtors have earned. I have served the Ann Arbor Area Board of Realtors (AAABOR) as a Director from 1997-2004, as Treasurer, and as the 2004 President of the AAABOR. I have also served as a member of the Public Policy committee at the Michigan Association of Realtors (MAR).

I have earned both an MBA (Finance and Marketing) and a Bachelor’s degree in Industrial Engineering from The University of Michigan in Ann Arbor, and I look forward to serving your Real Estate needs.