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The average sales price for lakefront home sales in the Clarkston/Waterford area so far this year is up 16.7% from the same time period last year and up 23.9% from 2009. Something freaky happened  in 2010 with a jump in price, but prices so far in 2012 are up 7.1% from that spike in 2010.

Unit sales are up 12.8% from last year and almost double the amount of sales for the same time frame in 2009.

Sales volume in 2012 is up $9,807,650 from 2011 and up $21,712,420 from 2009.

A search in Orion/Oxford/Addison sold lakefront homes also showed an increase in sales: Average sales price in 2012 is up 8.4% from last year, units are up 8% from last year and there has been over $2 1/2 million in sales from last year.

Compliments of Jackie Hawley of the JHawley and Associates Real Estate Team at ReMax Encore in Clarkston MI.

www.MiRelocation.com                   www.LakeOaklandHomes.com

                 www.MacedayLake.com

www.SearchMichiganMLSListings.com

Cell: (248)736-6407                                                      Jackie@JackieHawley.com

 

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Just Sold! 8944 Stonegate, Clarkston MI- 5 Days on the Market Highest Price in Stonegate Sub!

stonegate clarkston mi home sales clarkston mi real estatePrestigious Stonegate is an upscale Clarkston neighborhood conveniently located off Dixie Highway about 5 minutes from I-75. Large lots, mature trees, Clarkston schools.

We listed 8944 Stonegate toward the end of a week and had come to terms by the end of the first weekend! A sweet 4 bedroom home built in 1996 on a 1 acre landscaped yard backing to a common area sold for $330,000 or $114.78/square foot.

Prices in Stonegatehave ranged from $225,000-$220,000 in the paststonegate clarkston mi home sales clarkston mi real estate year and a half. There is currently 1 home pending with an asking price of $329,000 and 2 homes for sale with asking prices of $324,900 and $340,000.

If you have a 4 bedroom home in the Clarkston school district and are thinking of selling, please don’t hesitate to contact me about selling. The last 3 homes I listed in the Clarkston schools that had 4 bedrooms all sold within 5 days and all sold for top dollar.

If you are considering buying a 4 bedroom home in theClarkston area you need to find a good agent (me) who checks the inventory daily. Inventory is low and the good listings don’t last long. 2 of the 3 listings I mentioned above that sold so quickly had multiple offers.

For Sellers

For Buyers

Search the MLS 

 

Jackie Hawley
Keller Williams Realty, Clarkston
cell: (248)736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

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Silver Lake is a 101 acre all sports lake in Waterford Michigan– between Walton Blvd and Silver Lake all sports lakefront homes for sale waterford michigan lakefront real estateDixie Hwy and west of Silver Lake Rd. In the 2003-2005 peak times lakefront houses on Silver Lake typically sold in the three hundred, four hundred and five hundred thousand area with an occasional house selling in the six hundred thousand neighborhood.

Today sale prices on all sports Silver Lake are ranging from $150K range to the $450K range with a mixture of newer homes and older homes. Prices seem to be pretty much on par with last year, though still a long way from the peak times of a few years ago. Homes on Silver Lake may fall into either the Waterford school district or Pontiac school district this seems to be a rare case of school district not having an impact on price.

Go to my web site for sale charts for various years for Silver Lake lakefront homes. The charts are as complete as the data input in the MLS.

For a list of homes for sale on all sports Silver Lake please don’t hesitate to contact me.

Jackie HawleyJackie@JackieHawley.com

cell: (248)736-6407

email:

North Oakland County Michigan Lakefront Homes for Sale

Oakland County Lakes

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Buying a Forelcosure Home in Southeast Michigan

Like with my short sale posts, I still haven’t organized my categories or tags for my foreclosure articles. So in the meantime I figured I’d cheat a bit and paste the links all in one post.

 

Why an Oakland County Michigan Foreclosure Listing May Not be The Best “Deal”

The Foreclosure Process in Southeast Michigan

Oakland County Michigan Home Buyer- Find a Foreclosure Listing You Want? Jump on It!

Oakland County Michigan Foreclosure Listings are NOT Available for Sale BEFORE Hitting the MLS

Southeast Michigan Foreclosure- Misconception #1

Highest and Best are NOT Synonyms

Contingent Offers on Distressed Sale Homes

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The Preserve, Lake Orion Michigan Real Estate SalesThe Preserve Lake Orion Michigan homes for sale lake orion michigan real estate

The Preserve real estate sales, Lake Orion Michigan. The Preserve is a Pulte sub in Southern Orion Township– just west of Baldwin Rd on the north side of Waldon Rd. The Preserve is a desirable neighborhood with most of the houses built in 1996 through 1998 with prices ranging at that time in the $200’s but with an occasional home selling in the low $300’s and a couple selling for just under $200,000. Most of the homes in The Preserve are 2 story homes with a few ranches in the sub. At the entrance is a club house with a swimming pool, tennis courts and a play ground area. The sub also boasts a small lake, sidewalks, Detroit water and sewer.

The Preserve has excellent location with easy access to I-75 and a stone’s throw to Costco and Meijer. The Preserve is walking distance to Waldon Middle School and only about 5 minutes from Lake Orion High School

the preserve lake orion michigan

subdivision club house

Also within minutes of The Preserve are Civic Center Park on Joslyn Road near the Orion Township Hall. Civic Center Park offers a nice playground, seven soccer fields, four baseball/softball fields, a sand volley ball court and two basketball courts. Picnic areas with grills are also available. Friendship Park is at the corner of Clarkston and Baldwin Roads- a 137 acres park with a large play structure, two full size soccer fileds and four baseball/softball diamonds.

Over on Joslyn Road- about 5 minutes from The Preserve– it’s Christmas year ’round at Canterbury Village. Orion Oaks Park which includes a bark park runs between Joslyn and Baldwin Roads, south of Clarkston Road, and Bald Mountain Recreation area covers about 4600 acres.

In 2005 prices ranged from $287,000 – $372,000. In 2003 and 2004 a couple homes sold in the low the preserve lake orion michigan$400’s. In 2009 prices ranged from $211,000-$260,000 – the most expensive house in 2009 sold for less than the cheapest house in 2005. Of the 6 houses that sold in 2009 all had finished basements, none were bank owned, and only one short sale. 

the preserve lake orion michigan

subdivision lake

So far in 2010 there have been 9 homes closed through the MLS with sale prices range from $155,000 – $285,000. Many houses are selling for less than they sold for new in the mid to late nineties, and many of those houses have been updated since they were built. Updates like finishing the basement or updating kitchens. The good news- 3 of the 9 homes that have sold garnered a higher sale price than the most expensive home sold in 2009. That’s not just good news- THAT’S GREAT NEWS!

On 10/18/2010 there were 2 active listings- both regular sales (not bank owned or short sales) asking $275,000 and $305,000

The Preserve, Lake Orion Michigan detailed sales data

Lake Orion Michigan Homes for Sale

Search the MLS

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Oxford Michigan Homes- Prices Up! Inventory Down!

Does this mean Oxford Michigan real estate has reached rock bottom? Who knows? What I can state is that at the end of August:

Unit sales are up 17.5%

Median sales price is up 15%

Total sales volume through August 2010 was $30,807,690 vs $22,988,190 in 2009. In fact the total sales volume is up slightly from 2007 and 2008, too.

oxford michigan home sales data

Active listings on 9/18/2010- 119 with a median asking price of $189,900
Active listings on 9/28/2009- 165 with a median asking price of $238,500

Bank owned sales are on the decline:
Through August 2010: 71 bank owned sales or 41.5% of total sales
Through August 2009: 70 bank owned sales or 49.6% of total sales

Short sales are on the increase:
Through August 2010 there were 33 short sales or 19.3% of total sales
Through August 2009 there were 14 short sales or 9.9% of total sales

The decrease in foreclosure sales in Oxford Michigan has contributed to the increase in the median sales price. Many of the bank owned homes are on the lower end of the price spectrum. There are still deals to be had- private home owners need to price their homes like a foreclosure in order to sell. Interest rates are low. Property taxes have been dropping and are more in line with the true value of Oxford Michigan homes

We will not know when we’ve hit the bottom until we’ve passed it. But whether you buy at the bottom of the curve or a just near the bottom, this is a great time to buy that home you may not have been able to afford in the past. It is also a great time to buy investment properties- using cheap money to buy cheap houses in an environment where rental demand is high.

Specific Neighborhood Sales Data

Oakland County Michigan Lakefront Homes For Sale

Oxford Michigan Homes For Sale

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writing an offer on southeast michigan homesUnless you’re a cash buyer, our standard purchase agreement contains a financing contingency. Even if you are pre-qualified you need this contingency to protect yourself. If your financial situation changes after writing the offer (such as job loss) you need the protection of the financing contingency. It also protects you if the house has problems with mortgaging, such as appraising too low, clouded title, etc. When it comes to rural properties, the property can present many issues when it comes to obtaining the mortgage. I won’t get into those specifics here, but the bottom line- a standard contingency in the offer to purchase is financing.

Once the seller accepts your offer, their house is off the market while you fulfill the contingencies in the offer, so it is muy important to submit a pre-approval letter with the offer. The pre-approval letter will state the down payment required from you, the type of mortgage you’re getting, how much of a mortgage you can afford, and needed seller’s concessions if any.

Actually, it’s important to get that letter before you even start looking at houses. I need to know what you can afford (or what you’re comfortable with- I bought much lower than the bank was willing to lend me) and the type of mortgage you will be getting. If you are getting a rural development loan, I will know not to look in Lake Orion for example, but 3 miles north into Oxford the houses would qualify- even in a sub. If you are going to go FHA, I would know not to show you fixers. Etc. So meeting with a good, honest, experienced loan officer, before you start looking, is also muy important. If you don’t already have a loan officer you like and trust, I can supply the contact information for one. More about that in a future post.

At the time we write the offer we also need to decide if you would like a home inspection, and what type of inspections you should get. Now some people think if they get an FHA loan that there is an automatic inspection built into that process. That is not correct. Your lender will send out an FHA approved APPRAISER who will look for repairs that FHA deems necessary, but that person IS NOT AN INSPECTOR.

If your offer is contingent upon the sale or closing of another property, we would include that in the offer. But beware- bank owned homes do not take offers subject to the sale of another property. If we make an offer subject to the closing of another property that you currently have an accepted offer on, we need to submit a copy of that offer with our offer to purchase. We want to submit as strong an offer as possible and to relieve the seller of any doubts of your ability to close. It’s much easier to negotiate from a position of power.

Other things included in the offer to purchase include “possession.” Or how long you are willing to let the seller live in the house once the sale is closed. They usually ask for a specific amount of time in the listing- 30 days or 60 days for example. After the closing the house is yours, and if there is possession, the current seller is now your tenant. They will typically pay you rent in the amount of your new house payment for any time they stay after closing, and that money is typically escrowed from their proceeds at closing. Possession is something we negotiate up front.

We also include time frames in the initial offer to purchase. We give them a certain amount of time to answer our offer. We give them a time frame in which you will make your formal mortgage application and a time frame for you to get a full mortgage commitment. We will include a time frame to close by.

For the most part, the above are the most popular contingencies included in an offer to purchase. Of course everybody’s situation is different, and sometimes there are contingencies that may be unique to your situation. I wrote an offer recently that was subject to the buyer finalizing their job transfer. But no matter what the contingency is, we must include time frames.

One other issue that is not covered above is the EMD or earnest money deposit also known as a good writing an offer on southeast michigan homesfaith deposit. It is usually a check I collect from you at the time we make the offer that shows your “good faith.” Hence the term good faith deposit. If there’s a problem on the inspection or financing, and the sale doesn’t close, you get that money back. If everything goes just fine, and we close on the property, that deposit is applied toward you closing costs/down payment. If everything goes just fine and all the contingencies are fulfilled satisfactorily, and you just change your mind and back out- then that deposit goes to the seller.

 

Hopefully this gives you a basic understanding of how the offer making process goes. If you have any questions or would like to see a copy of our purchase agreement, please don’t hesitate to call or email me. My direct line at the office is 1-800-401-1444. My cell number is 248-736-6407. And my email address is Jackie@JackieHawley.com 

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