Feeds:
Posts
Comments

Posts Tagged ‘the preserve lake orion michigan’

The Preserve, Lake Orion MI- Are Prices Rebounding?

the preserve lake orion miThe Preserve is a very nice neighborhood in southern Lake Orion with easy access to I-75. Some of the many amenities that make The Preserve desirable are city water and sewer, sidewalks, subdivision lake, club house with a swimming pool, tennis courts and play ground area. The sub is also surrounded by woods which added value to the perimeter lots when build jobs were sold; value that seems to have stuck to the homes even in the current housing market.

The home values in The Preserve were hit hard just like the rest of Lake Orion. Many of the homes sold new in 1996-1998 with prices ranging at that time throughout the $200’s with an occasional home selling in the low $300’s.

In 2005 home prices ranged from $287,000-$372,000 and in 2003 and 2004 a couple homes sold in the low $400’s. This year prices have ranged from $155,000-$285,000.

So now you may be asking yourself- “Where does the title of this blog post come from?”

After 2005 prices were on a downward trend all over Lake Orion and The Preserves was no different. Prices steadily declined every year after 2005….. Until 2010. It appears that in many neighborhoods prices are starting to stabilize and the same is holding true in The Preserve. In fact, due to the lack of foreclosures in The Preserve, home prices may actually be arching the other way.

First let’s compare 2008 and 2009 home sale prices.

In 2008 there were 4 sales in The Preserve ranging from $255,000-$275,000. All selling for pretty close to what they sold for new. None of the 4 sales in 2008 were bank owned or short sales.

Prices dropped hugely from 2008 and 2009 with 6 sales in 2009 ranging from $211,000-$260,000 with no bank owned sales and 1 short sale.

Now comes 2010. One of the differences in 2010 was there was 1 bank owned home and 2 short sales. The 3 distressed sales in 2010 were of course the 3 lowest priced sales ranging from $155,000-$211,000. Now let’s compare the non-distressed home sales between 2009 and 2010.

There were 5 non-distressed home sales in The Preserve in 2009
There were 7 non-distressed home sales in The Preserve in 2010

2009 sale prices ranged from $211,000-$260,000
2010 sale prices ranged from $215,000-$285,000

2009 price per square foot ranged from $89/sq. ft. to $110/sq. ft.
2010 price per square foot ranged from $91/sq. ft. to $108/sq. ft.

A little deeper look at prices show that in 2009 there was only 1 home that sold for more than $100/sq. ft. where as 5 houses broke the $100/sq. ft. price point in 2010. Even the 3 distressed sales in 2010 ranged from $82/sq. ft. to $96/sq. ft.

The price differences in the non distressed sales in 2010 seem to be the same as in the past- location within the sub a primary factor in sale price and walk out basement also adding to value.

As of December 24, 2010 there were no sales pending and one active listing with an asking price of $299,900. If you currently live in The Preserve you can only hope they get pretty close to that price.

If you are considering buying in The Preserve you might want to get off the fence and contact your agent (preferably ME) and start a daily update for new listings. As agents we are able to check individual neighborhoods on a daily basis. Personally, I check ALL new listings and status changes for Lake Orion on a daily basis. Knowing my market is part of my job.

For a detailed breakdown of home sales in The Preserve please visit The Preserve page of my web site.

Search The MLS

Oakland County Michigan Neighborhoods

Oakland County Michigan Lakefront Homes for Sale

Oakland County Michigan Lake Information

Read Full Post »

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

Read Full Post »

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 The Preserve Lake Orion Michigan real estate and homes for saleneighborhood 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 The Preserve Lake Orion Michigan real estate and homes for salestone’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

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 Canturbury Village Lake Orion MichiganChristmas 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 home prices ranged from $287,000 – $372,000. In 2003 and 2004 a couple homes sold in the low $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. So far in 2010 prices range from $180,000 – $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. Of the 6 houses that sold in 2009 all had finished basements, none were banke owned, and only one short sale

2 houses were leased through the MLS in 2009 for $1500 and $2150.

On 7-14-2010 there was 1 active listing in The Preserve– a regular sale (not a short sale or bank owned) asking $314,000.. There were also 3 pending sales – 2 short sales asking $155,000 and $211,000 and a regular sale asking $300,000. No lease listings are showing in the MLS as pending or active.

Jackie Hawley
Keller Williams Realty
Cell: 248-736-6407
Email:
Jackie@JackieHawley.com
Web: www.MiRelocation.com
Search the MLS
About Short Sales and Foreclosures- Buyers

Read Full Post »