New Year - New Market

Well here we are in a new year with a new Real Estate market.
Buyers are actively seeking real estate to buy but the results are heavily predicated on the banks reaction to the particular property they want to buy and, of course, the buyers credit worthiness.
Especially with the low mortgage interest rates the banks are unhappy lending money out for so little return. They will do it if they are comfortable with the risks.

Many Sellers are pulling their listings because of lack of Buyer interest in the normal price / value range that has been offered over the past 3 or 4 years.

The present market is wonderful for those who would own their own home and who have the down payment and ability to pay the monthly payments.
So we are seeing sales in the price range under $150,000

The occassional sale over $150,000 is also occurring.

Buyers Take note:-
1. Get quotes from at least 3 Banks - it seems like a lot of work but it's worth doing.
2. There are lots of available properties in the $150,000 and under price range.
3. Excellent value properties keeping popping on the market because of Repossession.
4. These low price, high value properties do not last long on the market even today.
5. Negotiate hard but carefully - Sellers have had their fill - The banks know exactly where they will settle.

Happy Hunting - More listings coming soon!!
Quintus

Approaching Year end 2010

We were all hopeful in the middle of the year that sales would pick up and things would improve.

As it happened the frightful political and economic times have sent all but the most nerveless into real estate hiding.

I suppose there is a fine line between 'persistent optimism' and 'obsession' but where the line is I don't know - hopefully I haven't strayed over it yet!! I am optimistic that the market will come back but I cannot say quite when.
I am sure that it has to do with the unceratinty of how much tax we will be asked to pay in the New Year and how much of an increase we will see in our Health insurance bills.

What I do know from experience is that in the next 5 years home prices will go higher and that now is a great time for lower income people to acquire a home at excellent rates.
For investors also the opportunities are amazing right now - how long that will last is probably also tied to the popular feelings about taxes etc.

There is a lot of pent-up demand - we know that because we have not stopped showing property and talking to people. When these people decide it's time to put pen to paper, if you are selling, now is the time be be sure that you are asking a realistic price because the prices of 2 years ago just will not wash today.

Keep well and get realistic; now is the best 'buyers market' we are ever again likely to see.
All the best
Quintus

Summer is here

Summer is here in Pentwater, The streets are busy and we got some strong indications of interest from prospective buyers at our open houses over the weekend.
Note our 'Open Houses' are attended by an agent at the advertised times (barring accidents!!)
I see some people advertising 'Open House by Appointment' - well, our listings are "Open House by appointment" all the time.

We had someone in the office over the weekend asking for 100 feet on Lake MI for around $30,000 - we figure if we find one of these we won't be telling anyone about it!

We Have 8 Reduced Price listings in our weekly Brochure dated 1st June 2010 and 10 New Listings.

Of course these are all on the web too.

Keep well
Quintus

Housing recovery

The Case-Schiller index indicates today that the housing sales improved by 0.6% this month past and that house prices have risen slightly.
Also noting that average (across the nation) house prices are down 30% from where they were in early 2006.

That is GREAT news.

We are experiencing a stronger market - our first quarter sales have been stronger than last years marginally.
Whether or not that will be sustained throughout the year remains to be seen butour Brokers are confident in the future of the Pentwater Market.

Looking at the market today it is bifurcated in that there are very good opportunities out there and yet quality homes in good locations are holding and possibly increasing in value and commanding interest from potential buyers.

So good signs all around.

Enjoy Spring - keep well
Quintus

Trouble with passwords???

If you are troubled with remembering passwords here is a trick to help .
You will not have to actually memorize passwords any more except for one basic piece to the puzzle.
Let's say your name is Jeremiah Heep and your phone number (last four digits) is 4325
Well, everyone can remember their own name I hope!

Make a password that is like this JhHp (First and Last letters of your names noting the case also)
Add the first and last numbers from your phone number (45) So that your password becomes
JhHp45

Now this is the part that you have to remember - the only part.

All your passwords have this as their core. (But remember you can contruct it your own way so long as you can remember it)

Lets say you want to sign into your Google account your password becomes:-
JhHp45G or JhHp45google etc.

Just exactly how you create the password for a given web site depends on how you think of that site; for example
Hewlett Packard - HP or hp (password becomes JhHp45HP)
Norton - NAV or norton etc (password becomes JhHp45NAV)
Paypal - pp (password becomes JhHp45pp)

This way you can pitch that little book you write down passwords in!!

Hope everyone had a great Easter
Keep well
Quintus

Spring is on the way in Pentwater, Michigan

So, the Windfarm nonsense keeps coming - Recently the Government anounced a huge (could it have been $2.2 billion) program to clean up the Great Lakes. Very commendable.
However, with the next wave of their magic wand they want to make our Great Lake into an Industrial Electricity generating plant. Go figure!, as they say.

On the Real Estate front - Real Estate in Pentwater, Hart and Shelby and Silver Lake is still being sold at what we think is a marginally increasing rate.
I have to believe that before the year is out real estate asking prices will start to firm up although at present they are still high especially in the Second Home Market.

Sales are happening in part because the very low interest rates currently available enable people to buy at excellent rates not to mention excellent prices.

There was a lot of Realtor activity in and around Pentwater over the weekend. There were showings of the condominiums (Harbor View on Hancock St near Cenzo's) and residential homes in Pentwater and homes near Ludington and Shelby.

The weather has been just perfect for a walk on the beach and so plan on it soon.
Keep well
Quintus

Lengthening Days in Pentwater Village

As we slide into Spring there are more signs that people are getting fed up waiting for 'whatever'to happen.
A Lake MI View property in the $350,000 price bracket just sold - it was a long time in the making but it was and is.
In our office we are working on several $300,000 to $400,000 transactions presently so that should be encouraging for all of us.
Today we had a visit from the USDA / RDA lady who talked about the amazing financing deals that can be had via the USDA for low and very low income earners.
Call us for details.
In Pentwater Village and township most of the homes seem to be second homes but there are alot of residential homes in Oceana County.
Check these sites:-
www.pentwater-real-estate.com
www.mwsrealty.com