Showing posts with label #berkshirehathaway. Show all posts

Wednesday, July 22, 2020

When will the home prices start going down as a result of COVID19?

We all know real estate is local. By reading the market data for the West

Coast, there’s no way a home buyer would learn what the real estate market is doing in Michigan.

There are many factors that affect home prices to go up or down in any market. One of them is DEMAND.

I read many posts on social media from real estate professionals who seem to think home prices are on the decline. While this might be true for some parts of the country, it hasn’t been the case for the majority. On the contrary, home prices continue to rise, at least in Southern Michigan.

Yesterday, I had a conversation with a home buyer who wanted to see a
home that came on the market nine days ago, listed at $380,000. Since she is a cash
buyer, she asked if the seller would be insulted with a $330,000 offer. After looking at
the comps, I advised this home buyer the home was priced just right, within the market
value and my suggestion would be to first preview it and if she wanted to make an
offer, not to go below asking. When I contacted the listing agent, I was advised it was
under contract which I relayed to my buyer client. She is a new client whom I never
worked before so I don’t know her that well. Apparently, a family member of hers
is a real estate professional who has been giving her advice. I’ve seen this happen
before and its usually not a good sign, especially if they live in a different state.
They can certainly make assumptions but none of us can say for certain
home prices will be declining in result of all the shut-downs due to Coronavirus.

I have been a REALTOR® for 20+ years and never have I advised a buyer
or a seller not to buy or sell a home because of my assumptions. Not a wise
thing to do regardless of the circumstances because we just don’t know. Imagine
if a buyer client listened and not purchase a home at this time when the interest
rates are low and six months down the road, home prices have climbed up and
interest rates are higher. Homebuyers and sellers, we talk to take our advice to
heart and may act based on our “assumptions”. Our job is to help them market their
homes and assist them in finding their dream home. Most of us are not economists
nor should we play the role of one in the real estate field.

I can tell you there were very minimal
showings in Michigan during the
shut-down but even then, homes
were selling. I personally sold
and closed three homes during that time.

Sadly, there are some buyers who are
waiting for the home prices to drop
within the next
few months due to the pandemic.
Will that really happen? We shall
watch the market and see.
The best thing we could do for the consumer is to report real data, not assumptions.

Holly Hurd~ Berkshire Hathaway HomeServices HWWB, REALTORS....
your source for all your real estate. We are one of the Largest brokerage
firms in Michigan, we have proven we can stand the test of time in this
ever changing market place a proven leader for you and all your real estate needs.
In today's competitive real estate market, timing is everything. Many good homes
are sold before they are ever advertised. Beat other homebuyers to the hottest new
homes for sale in the Wayne/Oakland co. area with my New Listings Notification.
If you own real estate that you're thinking of selling, I would be happy to provide
you with a FREE Home Evaluation. Whether you are buying or selling a home, hire
someone like me, who wants to earn your business. I invite you to contact me as
I'd be happy to assist you with this important transaction. In addition, if you have
any general questions about buying or selling real estate in Michigan, please contact
me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME
AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale
in Northville Michigan Northville, Mi. 48167 #realtor #realestate
#realestatemarket #hometown #hollyhurd #home

#historicnorthville #buy #buyingahome #buyrealestate #condo #homeforsale

#northvillemi #sellingyourhome #smalltown #shop #bhhs #buildahome

#moveinmichigan #greattimetobuy #SOLD #realestateforsalemi

#puremichigan #berkshirehathaway #sellahome

Wednesday, June 24, 2020

WHEN I BUY NEW CONSTRUCTION, DO I NEED AN AGENT?

The new construction process is no less complicated than an existing home purchase. There will be a buyer, a seller, title insurance, a mortgage, an appraisal, home inspections and a bevy of other legal considerations to navigate. The construction company will have their own representation. So should you. Having an agent is truly the way to go.

Why Realtors Matter to a Buyer

Buying a home isn’t just a big financial happening, it’s an emotional one as well. The purchase and construction of your new home is fun, stressful, confusing, and wonderful all at the same time. Throw in financing, negotiation, and closing conditions, and you’ve got a full-time job on your hands. Having an experienced Realtor on your side from day one will make things manageable. Plus, your Realtor is your hub for communications, scheduling, and advice. He or she will ensure that you and all of the other parties to the transaction are on the same page, that they know when and where to show up for meetings, and that deadlines are respected.

So Many Choices

Some of the choices you’ll get to make during the home building process are super-fun. New carpet, cabinets, paint colors – a whole new house! But there are a ton of other choices that feel more like work. Your agent can guide you through these situations and will already have done much of the research on your behalf. Some examples here include where and when to close, which title company to hire, whether to buy furniture or other necessary items before closing, who to trust regarding home inspections and whether to order in extra inspections, whether to agree to updated builder conditions or deadlines, when to list your existing home for sale, whether to sign a lease, whether to purchase flood insurance, and an endless list of other considerations. Your Realtor will help you through the not-fun parts of the building process so you can get to the closing table and enjoy your new home.

Special Considerations in New Construction

Negotiating a new construction deal is like negotiating a normal real estate deal but with a ton of extras. Your Realtor is your number one advocate from start to finish. Yes, you are a client of the builder, but the builder is also the seller. The builder wears two hats throughout the process, serving you as well as serving their own best interests as a business owner. Successful business owners understandably want to earn a profit. Therefore, you must have an advocate (i.e. your Realtor) who knows the construction process and can act in an unbiased fashion to ensure that you get the best finished product for your investment. Plus, your agent will be available after construction is completed to oversee any hold-back items later on (e.g. landscaping).

Here’s an often-overlooked fact: As a buyer, you won’t pay a commission (even for existing home purchases). You might pay a one-time fee at closing to the Realtor’s principal broker. A principal broker’s overhead fee usually runs between $200-$300, but the larger percent commission is the responsibility of the seller. The builder pays a commission to their agent, and the seller’s agent negotiates a share of that fee with your agent. If you don’t enlist the help of a buyer’s agent you are essentially agreeing to have the seller’s agent represent you at the closing table. Is that person the agent you would have chosen from day one?

Contact me today if you are considering new construction.

Holly Hurd~ Berkshire Hathaway HomeServices HWWB, REALTORS.... your source for all your real estate. We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation. Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Michigan, please contact me as I'm more than willing to help.YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthvilleMichigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor #realestate #realestatemarket #hometown #hollyhurd #home

#historicnorthville #buy #buyingahome #buyrealestate #condo #homeforsale
#northvillemi #sellingyourhome #smalltown #shop #bhhs #buildahome
#moveinmichigan #greattimetobuy #SOLD #realestateforsalemi
#puremichigan #berkshirehathaway #sellahome

Thursday, May 14, 2020

Crystal Ball Predictions-Will the Housing Market Turn Around This Year?

Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the economy will turn around. If you’re trying to figure out what’s going to happen and how to play your cards this year, you’re not alone. This spring in the 2020 NAR Flash Survey: Economic Pulse, the National Association of Realtors (NAR) has been tracking the behavior changes of homebuyers and sellers. In a reaction to their most recent survey, Lawrence Yun, Chief Economist at NAR, noted the beginnings of a turn in the market:

“After a pause, home sellers are gearing up to list their properties with the reopening of the economy…Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.”

What does the survey indicate about sellers?

Sellers are positioning themselves to make moves this year. More than 3 in 4 potential sellers are preparing to sell their homes once stay-at-home orders are lifted and they feel more confident, which means more homes will start to be available for interested buyers.

Will the Housing Market Turn Around This Year? | MyKCM

Just this week, Zillow also reported an uptick in listings, which is great news for the health of the market:

“The number of new for-sale listings overall has shown improvement, up 5.9% last week from the previous week. New listings of the most-expensive homes…are now seeing the biggest resurgence, up 8%. The uptick is likely a sign sellers are feeling more confident because of improving buyer demand, as newly pending sales have also jumped up during the same period.”

What does the survey note about buyers?

The recent pandemic has clearly impacted buyer preferences, showing:

5% of the respondents said buyers are shifting their focus from urban to suburban areas.
1 in 8 Realtors report changes in desired home features, with home offices, bigger yards, and more space for their families becoming increasingly important.
Only 17% said buyers stopped looking due to concerns about their employment or loss of a job.

As we’ve mentioned before, buyer demand is strong right now, and many are simply waiting for more inventory to become available so they can make a move, especially as the country begins to reopen.

Bottom Line

If you’re thinking about putting your house on the market, let’s connect today. There’s a good chance an eager buyer is looking for a home just like yours.

Holly Hurd~ Berkshire Hathaway HomeServices HWWB, REALTORS.... your source for all your

real estate.We are one of the Largest brokerage firms in Michigan, we have proven we can stand the test of time

in this ever changing market place a proven leader for you and all your real estate needs. In today's competitive

real estate market, timing is everything. Many good homes are sold before they are ever advertised.

Beat other homebuyers to the

hottest new homes for sale in the Wayne/Oakland co. area with my New Listings Notification. If you

own real estate that

you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.

Whether you are

buying or selling a home, hire someone like me, who wants to earn your business. I invite you

to contact me

as I'd be happy to assist you with this important transaction. In addition, if you have any

general questions

about buying or selling real estate in Michigan, please contact me as I'm more than

willing to help.

YOU CAN REACH ME DIRECT BY PHONE ANYTIME AT 734 718-5736 #YourHomeNorthville

Michigan Real Estate Homes for sale in Northville Michigan Northville, Mi. 48167 #realtor

#realestate

#realestatemarket #hometown #hollyhurd #home

#historicnorthville #buy #buyingahome #buyrealestate #condo #homeforsale

#northvillemi #sellingyourhome #smalltown #shop #bhhs #buildahome

#moveinmichigan #greattimetobuy #SOLD #realestateforsalemi

#puremichigan #berkshirehathaway #sellahome

Wednesday, March 25, 2020

6 FUN AT HOME ACTIVITIES

I just wanted to post to see how you’re doing and share a few activities. As we all practice social distancing, we find ourselves spending more time at home and with our families. I wanted to share with you a few fun ideas that you can do while at home. Whether it’s finding things for your kids to do while you work or a fun activity to do at night, these activities will have everyone smiling.

Take out a classic board game for a family game night. Monopoly, Candy Land, and Chutes and Ladders are all fun.

Lights. Camera. Action. We all have cameras and the ability to edit videos on our phones. Put your creative hat on and make your own movie with your family playing starring roles.