DPDHomes Newsletter – February 2012
To view all of my available listings, or to search all Michigan Homes visit us at
http://www.dpdhomes.com
Michigan Monthly Market Update – December 2011
Don’t be fooled into thinking that your home won’t be a target because you live in a “good neighborhood”. Most burglars will target those neighborhoods because they usually don’t take precautions. Here are a few tips for keeping your home safe from….
1. Do not announce your vacation on social media outlets like facebook and twitter. There is nothing better for a thief than people letting everyone know where they are going on vacation and for how long.
2. Do talk to your neighbors. Funny thing, people will tell the world everything about themselves and their vacations on social networks like facebook and twitter but won’t tell their neighbors they are going out of town. As your mail and newspapers pile up, a thief can be sure of an empty house and will take their time going through your possessions.
3. Lighting. Thieves prefer to work in the dark. Not having automatic timers for lights inside or outside the house is great for a thief. No outside motion lights allows them to move about undetected. Even better, overgrown shrubs let a thief melt into the darkness and go about their business easily.
4. Unlocked doors and windows. It’s hard to believe but many people do not lock their doors or windows. Some will actually keep a window open while away! This is an open invitation to steal!
5. Security System – By all means do advertise you own an alarm. Keep your lawn sign and window decals in plain view!
December Company Activity
17,252 Homes Sold/Leased
2,201,964 Website Visitors
186,326 Showing Appointments
27,759 Buyers Visiting Open Houses
27 Sales Associates Sold Over $1 Million in December
We’re excited to announce our new partnership with Extended Stay America Hotel, with 18 locations in the Detroit Metro area. Designed specifically for value- conscious travelers, every location offers a home away from home atmosphere with in-suite kitchens, wireless internet, plenty of workspace and on site laundry facilities. Extended Stay Hotels are perfect for relocation, long term assignments, temporary housing, leisure and business offering daily, weekly and monthly rates so the longer you stay, the less you pay. Extended Stay Hotels is a proud partner of Home Services One. Check out www.homesavingsone.com to find out how to receive your passport to special discounts on products and services offered only to members of the Home Savings Program. Attached is a link to Extended Stay’s metro-Detroit locations along with contact information. When booking your stay with the hotel be sure to mention discount code REO to obtain our 10% discount.
http://www.extendedstayamerica.com/Hotels-In-Michigan/Detroit.html
DID YOU KNOW…
According to EnergyStar.gov, depending on the type of home improvement or repair you make, you may also be able to claim a deduction on your taxes. Before launching a significant home repair or improvement , it may pay to consult with your tax advisor to see what, if any, portion of the cost may be deductible.
Some of the new tax credits apply to both principal residences and second homes and do not expire until Dec 31, 2016. Talk with your tax advisor to find out more.
There is no better time to buy a home than right now. Call or emailJohn Adams Mortgage today for a free pre-approval. With 28 loan officers that cover Michigan, there Is always some- one near you!
(248) 208-3900 info@johnadamsmortgage.com
If you’d like more information on the market, like to list your property, or want information on any property from any broker, you may call or email at anytime.
Thank you,
Dennis P. Dickstein
‘Experience Makes a Difference’
P: 248-892-6900
http://www.dpdhomes.com
http://www.dpdhomes.com
To view my available listings, or to search all listings please visit my website.
http://www.dpdhomes.com
Michigan Market Update – June 2011
Listening to the media reports can leave you very confused about the direction of the real estate market. Most show the market continuing to decline. Much of that is a result of comparing this year, without the benefit of Tax Credits, with last year, which was artificially fueled by the Tax Credits. The market is certainly improving, but until May, had not improved enough to make up for the effect of those Credits. However, in both May and June, sales activity has picked up dramatically (shown by increased pending sales numbers and property showing appointments) and is at a pace to exceed last year’s sales rate.
Southeast Michigan continues to lead the country in the housing recovery. That does not mean the market is jumping off the map, but we are seeing more sales activity than we had expected at this point in the recovery. Make no mistake, regardless of what you see in the media, the housing recovery has officially begun, to the best of our estimates it began coming off the bottom this winter. The question that time will answer is; is this current activity boost a long-term movement or the initial rush of water after the dam breaks? It is logical that after a five year hold back, there are thousands of consumers anxiously waiting to buy or sell, so each step of positive economic movement will bring another bunch of buyers and/or sellers into the market.
What does all this mean for pricing and appreciation? As we have been saying all year, the first stage of recovery is increased activity and sales, the next is appreciation. We are seeing strong evidence that homes that are updated, in good condition and priced competitively are selling for more than what they would have received last year. However, there are still plenty of homes in poor condition or with design obsolescence that are still requiring a discount to attract buyers, which continues to bringing the overall market average down.
The number of homes available for sale continues to fall, which will help push up home values, so as a seller, it is a great time to test the waters in terms of home value. For buyers, the market has moved away from the super discount deals, but home values, even for the best homes attracting multiple offers, are still at 14 year lows. For a buyer, with prices so low and interest rates seeming to be holding steady at near record lows it is easy to feel you can sit on the fence and wait. However, many buyers are finding that those perfect homes are selling in days so waiting will leave a buyer with mainly outdated and over priced homes to choose from.
For more positive news about Michigan and the metro Detroit area you might enjoy this article from the New York Times. http://nyti.ms/iAPgCi
Please remember you may call or email about any property you’re interested in no matter who the property is listed by.
To view my available listings, or to search all listings please visit my website.
http://www.dpdhomes.com
Thank you,
Dennis P. Dickstein, RAM, CRS, GRI, ABR, QSC
Associate Broker
Real Estate One & Max Broock REALTORS
Office 248-419-3152, Cell 248-892-6900, E-Fax 248-419-3050
E-Mail DPD@DPDHomes.com
6960 Orchard Lake Road, Suite 150
West Bloomfield, MI 48322
Web Address www.DPDHomes.com
Real Estate One Update
The Leading Real Estate Companies of The World released their March 2011 eStats and report Real Estate One’s Family of Companies is ranked #4 in most improved outbound
closings.
In March and April we welcomed 15 highly experienced sales associates who transferred to the REO Family of Companies.
According to J.D. Powers research, Ford’s Lincoln brand is the most reliable auto brand, Lexus ranked second. In an additional study on new car quality, Detroit auto-makers outperformed foreign companies for the first time in 24 years.
According to the Mortgage Bankers Association, borrowers who are behind in their payments is at the lowest level in nearly two years. The number of homeowners 3-5 months behind declined for the 5th straight quarter.
According to a report by Pew Research, 81% of adults still believe buying a home is the best long term investment a person can make.
For the 3rd year in a row, readers of the Milford Times, Northville Record, Novi News, and South Lyon Herald voted our Novi office The Peoples’ Choice Award 2011for “Best Real Estate Office”.
Dawn Waldrip of the Fraser office sold a house using Skype! The buyer was moving from Iowa and asked her to preview the house. She called them using Skype Video Chat on her iPhone. Using the front facing camera, they were able to virtually walk thru the home with her and hear her commentary too. It was enough for them to see and wrote their offer, got it accepted and didn’t see the home “live” until the home inspection. It saved them one entire trip to Michigan!
In April, the private sector in the U.S. added more jobs than any month in the last four years. The following Real Estate One family members celebrated an anniversary in April: Gail Hodge of the Plymouth office: 42 years; Fil Superfisky of the Novi office: 36 years; Cheryl Kott of Corporate Services: 35 years;
John Dayton of the TC Front Street office: 27 years; Irene Eagle of the West Bloomfield
office: 26 years; Gail Baker of the Royal Oak Office: 25 years; and Rejeanne Buckley of the Rochester Office: 25 years. And, in May: Hilda Wischer of the Brighton office: 36 years; Gordon Grogan of the Southgate office: 34 years; and Dan Elsea: 28 years.
Top commission on a single outgoing referral for the month of April goes to Tom Reichard from the Livonia office for $466.57.
Tourism spending in Michigan last year rose 21%, which is the first time that nonresidents outspent in-state travelers according to Va.- based travel research and consulting firm D.K. Shifflet & Associates, Ltd. Visitor spending in Michigan jumped from $15.1 billion in 2009 to $17.2 billion in 2010.
In May, Robert Halperin, loan officer with John Adams Mortgage, just celebrated his 90th birthday!!!! Happy Birthday, Robert!
Shawn Bzdziuch, Abstractor with Capital Title, passed the State Bar Exam.
Congratulations, Shawn!
The state’s rebounding economy will add about 60,000 jobs annually for the next three years according to a University of Michigan economist. Job growth should stay steady and will hover between 9 percent and 10 percent through 2013.
35 REO Family of Companies sales
associates sold in excess of $1 Mil in April.
Please remember you may call or email about any property you’re interested in no matter who the property is listed by.
To view my available listings, or to search all listings please visit my website.
http://www.dpdhomes.com
Thank you,
Dennis P. Dickstein
Michigan Real Estate Market Update – April 2011
April continued to show the strong activity level we have seen during the first quarter. The actual rate of sales on an annualized basis did slow however. It is too early to tell if that change is significant, it could have simply been weather related. Compared to last April sales were off about 15%, but last April was a peak tax credit month, so a 15% decline is not a bad number and not unexpected. In most every metro Detroit market we continue to see six year lows in the Months’ Supply of Inventory (MSI). It may be that some of the growth slowdown from March to April was simply there were not enough salable homes to purchase.
It is tough to tell just how much of the increasing activity could be a temporary spike vs. a permanent market uptick. We are certainly one of the strongest markets in the country. Regardless of which it might be, the strong activity makes this the best time to have your home on the market since 2005! So for anyone who is considering selling their home in the next 12 months, act now and act fast! Demand is rising; inventories are low as are interest rates.
Even though values appear to be strengthening, Sellers will still need to set their prices based on the most current sales activity. A home that was on the market last year at $75,000 over the then current market will still be overpriced today. Home values are bouncing off the bottom of actual comparable sales, not what the asking prices have been. We don’t expect prices to jump dramatically (tough appraisal standards will keep a check on that) but there could be some nice bidding wars for well-priced and conditioned homes bringing prices off their bottoms from last year.
Another thing to keep in mind is that buyers are still being very picky. Homes that are not updated or in great condition are still sitting on the market or going for below asking price. If possible, a Seller might consider using a FHA 203K rehab loan as a refinance to help fund their updates for a more salable home.
Another issue that has gotten some press is the MERS (Mortgage Electronic Registration System) foreclosure problem. The core issue is the willingness for title insurance companies to write a title policy on bank owned homes that used MERS in their foreclosure process. It is too early to tell if this will be a significant issue but there have been a few banks that have taken their homes off the market until they can determine their title insurance status. It may have the effect of squeezing the available home inventory even further and in some cases causing a postponing or canceling of a sale if title insurance cannot be provided to the buyer. For current Sellers it would be a good idea to have your old title policy handy just in case there was a MERS foreclosure in your title history.
Please remember you may call or email about any property you’re interested in no matter who the property is listed by.
To view my available listings, or to search all listings please visit my website.
http://www.dpdhomes.com
Thank you,
Dennis P. Dickstein
Real Estate Issues During a Divorce
I was invited to be a guest on Divorce Matters, Bloomfield Community
Television’s weekly show covering topics related to divorce.
I was interviewed by host Robert Hack about what a couple getting a divorce
needs to think about when deciding whether to keep or sell their home after
divorce.
The first question the husband and the wife have to decide on is “do we sell
or does one of us keep the home?. If we decide that one of us keeps the Home,
then who stays, who leaves, and how do we handle the money aspects of one of
us getting the Home?”. A couple may have equity, but in these times with
values the way they are, it is most likely the home is worth less than the
balance owed on the mortgage or mortgages.
“If we decide to sell, how do we select the right REALTOR?”. Chances are,
everyone will be fighting over which REALTOR to choose. The husband, wife,
maybe even the couple’s attorneys will all have a different recommendation. What is
the key to be fair to all parties involved when picking a REALTOR? Has the
REALTOR worked with other couples getting a divorce? Has the REALTOR worked with
Attorneys or even a Judge?
Who does the REALTOR favor? A good REALTOR will
only favor the transaction and remain neutral to both the husband and the wife.
The right REALTOR will ensure open and equal communication to both the husband
and wife while keeping each one’s separate questions and conversations
confidential to achieve the end result, a closing. The REALTOR will do
nothing that affects the transaction that is not open to both the husband
and the wife and their attorneys.
The REALTOR is responsible to give good transaction advice and
recommendations, it is up to the couple to decide how to manage the
information and the results of the money owed or the equity in the
transaction. Their REALTOR must do what is possible to put as much money on
the table for them to work with. If instructed by the husband or the wife,
the REALTOR will also communicate with their respected attorneys when and as often as
instructed to do so.
When you have found a REALTOR that encompasses all of these qualities, then you have found the right REALTOR.
Dennis P. Dickstein – The Right REALTOR to Choose.
View my website to see all of my available listings or search the MLS.
If you are in danger of losing your home…
I have assembled a wealth of information about foreclosures and the short sale process to answer some of those difficult questions. Please follow this link for a free informational package regarding short sales. I hope the information is of great help to you!
-Dennis P. Dickstein
Click for free information about short sales in Michigan.
Come and see the new and improved website:
