Saline Area Reports Sellers Market

Posted by Toth Team Worldwide on December 21, 2012

Current Saline Real Estate Market Data, click here. Saline is in a Sellers market.

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The recent history of sales can be seen in the two charts above. The median sold price for the last 30 days was $262,500 with a DOM of 53 days. Since the recent DOM is greater than the median DOM for the last 6 months, it is a negative indicator for demand. It is always important to realize that real estate markets can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Looking at the chart below, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings (properties for sale) have been on the market for a median time of 87 days. Analysis of sold properties for the last six months reveals a median sold price of $272,500 and 41 days on market. Notice that properties in the $600,000 – $700,000 price range have sold quickest over the last six months.

Search for Homes for FREE in Saline at HomeSearchAnnArbor.com

Contact the Toth Team at www.KathyToth.com

Chelsea Area Market Report Over the Last 6 Months

Posted by Toth Team Worldwide on December 18, 2012

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Let’s take a look at the real estate market.

Currently there are 8 Chelsea home sales pending in the market overall, leaving 97 listings still for sale. The resulting pending ratio is 7.6% (8 divided by 105). So you might be asking yourself, that’s great… but what exactly does it mean? I’m glad you asked!

The pending ratio indicates the supply & demand of the Chelsea Real Estate market. Specifically, a high ratio means that homes are selling and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. “Current inventory is described as somewhat slow.”

Taking a closer look, we notice that the $0 – $100,00 price range has a relatively large number of contracts pending sale. We also notice that the $200,000 – $300,000 price range has a relatively large number of Chelsea homes for sale at 32 listings. The median list price (or asking price) for all properties in this market is $249,900. A total of 118 Chelsea homes have closed in the last 6 months with a median sold price of $184,500. Breaking it down, we notice that the $100,000 – $200,000 price range contains the highest number of sold Chelsea homes.

Search for Chelsea homes with our Free Online Search Engine HomeSearchAnnArbor.com. Put it on your mobile phone! Look, we are working during the Holidays, call us 734-669-0337.

Kathy Toth and Team, Keller Williams Realty. Visit us on the web at www.KathyToth.com

Seven Important Buyer Tips – Work with a Buyer’s Rep When Purchasing a Home

Posted by Toth Team Worldwide on August 28, 2012

Interest rates at favorable levels and a good selection of homes provide an opportunity for Ann Arbor Area buyers. Here are a few things to for buyers to keep in mind:

1. Know what you can afford before you fall in love with your dream home.

2. Consider additional expenses that come with owning a home like property tax, insurance, and repairs.

3. Be flexible on the little things. It would be wonderful to find a home with everything you want, but those are hard to come by – distinguish nice-to-haves and must-haves early.

4. Have imagination and look beyond paint colors, wallpaper, or other easy and affordable things you can change.

5. Don’t compromise on the big things, such as enough bedrooms to accommodate additions to the family or space for an office if you work from home.

6. Always inspect even if the surface looks great; it’s important to know if anything major is wrong and what it will cost to fix.

7. Think about the future in regard to the neighborhoods, surroundings, schools, and developments. Be sure to check out our Ann Arbor Area neighborhoods with videos.

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Currently there are 375 Active Listings in just Ann Arbor alone. They range in price from $55,900 to $2,500,000. This is a perfect buyer’s market with low interest rates. Don’t rent when you can buy!

Meet the Kathy Toth and Team Buyer Agents. These professional REALTORS are available to help you find your Area dream home. To purchase a home in Ann Arbor or the surrounding real estate market, contact one of the Kathy Toth and Team Accredited Buyer’s Representatives. Marcia White, Linda Woodard or Michael Dailey will take you through the entire buying process from beginning to end providing expert assistance every step of the way.

Marcia White – Associate Broker — An Accredited Buyer’s representative in the business since 1984, Marcia has experience ranging from an escrow closing officer to a broker owner with an international franchise. She excels at utilizing this wealth of knowledge helping people fulfill their dreams of home ownership. Phone: (734) 395-8983

Linda Woodard – Associate Broker – An Accredited Buyer’s Representative with 15 years in the business, Linda specializes in helping our buyers realize their real estate goals. Linda’s knowledge of the market and needs of the people she works with makes her your greatest advocate. Phone: (734) 216-6804

For further information on Buyer Representation contact the Kathy Toth and Team Members at 734-669-0337

Search for homes on the market in Ann Arbor and the surrounding area.

How Do I Find the Right Real Estate Agent For Me?

Posted by Toth Team Worldwide on August 20, 2012

Kathy Toth and Team | Keller Williams Realty Ann Arbor Market Center | 734.426.6669

I got this question the other day and wanted to share it with you. “How do I find the right real estate agent for me?” Here’s my response:

1. When searching for a real estate agent, it’s important to find one who appreciates and understands the type of transactions you will engage. When approaching potential agents, explain to them that if you are an investor, your business model is based on a high number of transactions closing on a yearly basis or if you are buyng one home that you will need personalized attention.

2. It is important to find an agent that has the right mindset to work on all types of transactions. If an agent does not understand financing and investing, you will most likely have issues working with this agent in the future. It will be critical to find high energy, open-minded people who are interested in learning or experiencing different aspects of real estate.

3. When hiring an agent to represent you in a transaction, consider that you’re going to use their knowledge of the real estate market. It is their skill and experience that will benefit you and the goals of transactions in your business.

4. Of all the homes they list, what percent sell?

5. What are homes selling for in the market compared to their results ( LP/SP ratio).

6. How many days on market do their sales take vs. the average?

7. Be sure to spend some time discussing your goals and expectations with the agent. The more they can learn about your process, system, timing you wish to focus on, the faster they can provide you with opportunities to review and or place offers.

To summarize, having an excellent real estate expert on your team can benefit your real estate business significantly. The more they understand your business, the better they can support its growth and your ability to earn a substantial income in this market. There is no replacement for an excellent reputation and experience. This is priceless!

For your current and the most comprehensive Ann Arbor Area Real Estate market information including absorption rates for Ann Arbor, Chelsea, Dexter and Saline click here . Keep up-to-date on your local neighborhood and have the report sent directly to your email inbox.

Search homes in Ann Arbor and the surrounding Washtenaw County area and call us as we often know about properties before they are listed. Search here to find foreclosure deals in the area.

Let the Ann Arbor Real Estate Experts |(734) 426-6669 | We are here to help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

Kathy Toth and Team, Keller Williams Realty

Number of Homes for Sale Down in Dexter Real Estate

Posted by Toth Team Worldwide on August 18, 2012

The Dexter Real Estate Market Report for inventory over the last 6 months has many of the same indicators as the Ann Arbor real estate market.

In the $200K to $300K price range there were 54 Active homes on the market with the Median list price of $249,900 and approximately 40 median days of inventory on the market. There were 42 homes sold in this price range with a median sale price of $244,000. The absorption rate of Dexter homes falls at 7.7 months of inventory approximately.

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The absorption rate is a leading indicator showing sellers the approximate months of inventory that is available on the market. With 7.7 months of inventory the heat index shows us that this is middle ground for both buyers and sellers of Dexter homes. Absorption Rate estimates how long it would take to sell off the current inventory of properties if all conditions remained the same. Read the Dexter Real Estate Report in full to keep informed about your local Dexter market. Find out what your neighbors home sold for.

Now look at what happens if you are a Seller or Buyer in a price range of $100K to $200K. There were fewer homes listed totaling 22 out of the 186 Active Listings with an average list price of $175,395 and there were 44 listings sold out of 140 Closed properties averaging 77 days on the market with an average sold price of $157,813. The absorption rate moved in a direction favoring a Seller’s market vs. a Buyer’s market. So, if you have a home in this price range in Dexter, this is the time to list your home. We have bidding wars on the Dexter homes that are in perfect condition and priced properly. We know how many showings you should be getting and guide you on the market conditions. Your motivation determines your selling course.

Following the heat index, at the bottom of the chart below, the absorption rates shows that the Dexter Real Estate Market is running mild to cool with 8 months of inventory favoring both Buyers and Sellers on average. However, in the price range of $400K – $900K the Dexter Real Estate Market favors the Buyers. There were 52 homes on the market and 17 homes sold.

To search for listed properties in the Dexter area go to HomeSearchAnnArbor.com.

Kathy Toth and Team | Keller Williams Market Center | Ann Arbor or call 734.426.6669

Chelsea Real Estate Market Inventory Down – 8.7 Months Supply

Posted by Toth Team Worldwide on August 15, 2012

Chelsea, Michigan Clock Tower — 75th Annual
Chelsea Community Fair
Aug. 21 – 25, 2012

The Chelsea Real Estate Market Report provides Buyers and Sellers with more than just statistics – The report provides direction as to where the Chelsea real estate market is currently. This report breaks down Days on Market in smaller market segments. The information in this report tells buyers whether inventory is high or low depending on their particular bracket and whether this is a good time to put your house on the market and likewise a good time to purchase a new home.

For instance – Absorption Rate is an interesting statistic that indicates to buyers and sellers whether the real estate market is giving way to a buyer’s or seller’s market. To derive the Absorption Rate you only need 2 numbers. How many active Chelsea homes (homes currently for sale) and the total number of homes that have sold over a specific period of time. You can also break this down into brackets. For our example I will be using the bracket of $150K – $200K to come up with the Absorption Rate for Chelsea homes in that price range.

To calculate the Absorption Rate – start by calculating the average sales per month. Our bracket had 23 Sales divided by 6 months of data giving us 3.83. Now divide the total number of active listings, which is 32 in our bracket, by 3.83 (the average number of sold properties) and you will get the absorption rate which is 8.35. Remember these are just approximate months of inventory that we are determining considering all data remains constant.

By placing the Chelsea Absorption Rate into a heat index, located along the right hand side of the chart below for each bracket gives us the absorption rate of every segment of the inventory. The color Red indicates a favorable Selling Market and Blue indicates a Buyers Market. To read the complete report and see a larger image of the chart below go to the August Issue of the Chelsea Real Estate Market Report.

The $150K – $200K bracket leads the way with Active Homes @ 32 with a median of 77 days on market (DOM) with a median list price of $174,950. Advancing over in this bracket out of the 95 properties that sold in Chelsea over the past 6 months 23 properties sold in this bracket with a median price of $174,000 and 63 DOM. The absorption rate (approximate months of inventory) shows 8.3 months of supply. If no other homes came on the market, it would take8.3 months for all of those homes to sell. The 8.3 months is cool to mild. Keeping in mind that moving toward the Blue color indicates a Buyers Market and moving toward the Red favors a Sellers market.

Looking at Chelsea as a whole the absorption rate indicates favorable market for both buyers and sellers. The $200K – 250K bracket is the only segment leaning toward the Seller’s Market. Properties in the $400K – $450K price range have sold quickest over the last six months.

Buyers – this is a terrific time to purchase a home in the Chelsea, MI real estate market,. The heat index indicators are showing yellow to blue which is great for buyers and interest rates are presently at an all time low. This is a perfect time to buy.

The Chelsea Absorption rate is 8.7 months. Call the Toth Team at 734.426.6669 and set up an appointment to go over the home buying process or to determine the right time to list your home. To search for homes currently on the market – for free – go to www.HomeSearchAnnArbor.com. You can search using your smart phone.

Ann Arbor Real Estate is Trending Up in 2012 as Good News Continues to Spread

Posted by Toth Team Worldwide on August 13, 2012

Great News again in the Ann Arbor real estate market. The Trend in Linear Average Sale Price per Square Foot is Up in 2012. The number of homes sold in July over the last 3 years is up. And the sales price trend is up for single family homes sold in Ann Arbor. Do you want to know what your home is worth.

Click the Chart Below to View a Larger Image

Search for homes in Ann Arbor and the surrounding area at www.HomeSearchAnnarbor.com

Search here to find foreclosure deals in the area with your Ann Arbor Real Estate Experts.

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Call the Ann Arbor Real Estate Experts at (734) 426-6669. We are here to help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

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Kathy Toth and Team, Keller Williams Realty

The Michigan Union on The U of M Campus in Ann Arbor is Steeped in History

Posted by Toth Team Worldwide on August 5, 2012

Kathy Toth and Team, Keller Williams Market Center, Ann Arbor, MI 734.426.6669 – The University of Michigan Student Union.

The U of M Historic Michigan Union is Steeped in History.

Take a stroll through the historic Michigan Union Located at 530 S. State Street on Central Campus in Ann Arbor, Michigan.

In 1904 the Michigan Union began with a meeting held at the Waterman Gymnasium with over 1100 students in attendance to form an “all inclusive organization” promoting unity for the men on campus. As the organization grew, the University of Michigan Union founders acquired a new location on S. State Street in Ann Arbor and in 1907 opened the Clubhouse in the remodeled residence of Judge Thomas M. Cooley, a longstanding member of the University of Michigan law faculty. The organization grew so quickly, and again they needed a larger facility. Plans were designed to tear down the Cooley house, their present location, and build right there rather than relocate. In 1916 groundbreaking took place and the new Michigan Union officially opened in 1919. See before and after photos of the Building and History of the Michigan Union.

Over the years there have been many additions, expansions and rule changes to the organization and to the building which keep the Michigan Union a vibrant location for education, study, entertainment, and camaraderie to this very day. To read more about the history of The Michigan Union, get a copy of the book “The Michigan Union: 1904-2004 – 100 Years of Student Life.” By Jeffrey M. Rowe.

Here are a few interesting facts about the Union. For instance, did you know that there was a swimming pool and a bowling alley in the Union at one time? They were located under the present bookstore. And women – you are now welcome to use the front door and enjoy all that the facility has to offer. Until 1954, women were not allowed inside the building and not allowed to use the front door. Women could use the North entrance only and must be accompanied by a male member. Due to social change, women were finally able to have full access and privileges to the facility in 1972.

Over the years the Michigan Union has been honored to have such dignitaries as President John F. Kennedy in 1960 and a visit by the Dalai Lama as special guests. When Senator John F. Kennedy made his visit during the last few weeks of the Presidential campaign in 1960, he stood on the steps of the Michigan Union and announced his vision of the Peace Corps. He talked about foreign service, and volunteering individual time and talent in underdeveloped countries of the world. Read the transcript of his speech.

The Michigan Union is a great place to visit, eat, tour or attend any of the special events throughout the year. Take the opportunity to stop in and walk through this beautiful building and be a part of Michigan history. The Michigan Union is open for regular Fall/Winter Semester hours Monday – Saturday 9 am – 2 am and Sunday 9 am – 2 am. Hours change somewhat for Spring/Summer terms. Learn more about the Michigan Union events and meetings.

After you visit the Michigan Union – step outside and visit the Tony Rosenthal initeractive Cube within walking distance to the North of the Student Union.

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Selling Your Ann Arbor Home Can Be Daunting

Posted by Toth Team Worldwide on July 27, 2012

Selling an Ann Arbor Area home can be daunting. Selling a home in Washtenaw County can be simple or complicated. I found this info-graphic that takes you through the steps of renting your home or selling it (with pros and cons) to turning over the keys to the new buyers. Do you want to know what your home is worth, or what your neighbor’s house sold for?

Thinking of selling your home and not sure where to start? Call us 734-426-6669.

The Cube on Central U of M Campus is Fun Interactive Art for All Ages.

Posted by Toth Team Worldwide on July 24, 2012

Kathy Toth and Team, Keller Williams Realty, 734.426.6669 – Tony Rosenthal’s Interactive Cube at the University of Michigan.

When you are downtown Ann Arbor on the University of Michigan Campus, walk into the Courtyard of Regents Park between The Student Union and the LSA Building and push the Cube. The cube was designed by University of Michigan Alumnus Bernard (Tony) Rosenthal (1914-2009). Tony Rosenthal is known as the Sculptor of Public Art and his work is displayed in many large cities across the country.

The cube’s artistic name is “Endover” and was commissioned by the U-M Class of 1965 and installed in 1968. The cube weighs 2400 lbs. and is made out of painted CorTen Steel, stands 15-feet tall, and is easily pushed by even a young child into a smooth spin on point.

The Cube has been used over the years as a meeting place easily identified for students, clubs, and groups; as art projects using the cube’s base for timely look-a-likes such as a Rubic’s Cube, and a Dice with all the dots; and, of course, all the photos of students that have posed pushing, standing and climbing the Cube.

Enjoy seeing other pics of the Cube “Endover on U of M Campus over the years” To know more about the artist Tony Rosenthal read the book “Tony Rosenthal” written by Sam Hunter where the Cube at the University of Michigan is discussed along his other works and photographs. He had a BFA from The University of Michigan and from Cranbrook Academy of Art where he donated his archives. Read more about Tony Rosenthal on the Tony Rosenthal website. Zoom in on the cube below.

View Larger MapFor your current and the most comprehensive Ann Arbor Area Real Estate market information including absorption rates for Ann Arbor, Chelsea, Dexter and Saline click here. Keep up-to-date on your local neighborhood and have the report sent directly to your email inbox.

Search homes in Ann Arbor and the surrounding Washtenaw County area and call us as we often know about properties before they are listed. Search here to find foreclosure deals in the area.

Call the Ann Arbor Real Estate Experts at (734) 426-6669. We are here to help you achieve your Ann Arbor, Chelsea, Dexter, and Saline Real Estate goals.

Kathy Toth and Team, Keller Williams Realty

Category: Keller Williams Realty