How Overpricing Slows Down Your Listing

Right now we are seeing trends that put us in a strong seller’s market. But be careful not to overprice, because doing so could actually hurt your listing.

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Recently I went on air with Martin Bandyke from Ann Arbor’s 107.1 to discuss the current absorption rate in our market.

As I told Martin, my team and I study the market each week. The current absorption rate for single-family homes here in Ann Arbor totals to 4.5 months. This means if no other homes came on the market, it would only take 4.5 months to sell out of the current inventory at the going rate.

In cases where the absorption rate is under six months, as is the case currently, then it’s a seller’s market. So with fewer homes on the market and higher demand, you might wonder what this means.

These factors actually add pressure to home prices and cause them to rise. This is the reason why in the last month we saw that 7% increase in prices.

So how do absorption rates vary with price range? Well if you were selling between $600,000 and $700,000 we can see that right now there are 7.8 months of supply.


If you want to have access to this kind of information, you need to work with the people who are studying the market each week.


But real life circumstances tend to be more complicated than they sound on paper. For example, there is a 1.8-month difference in supply if a home were even $1,000 less than the lowest point in that range and was therefore in the $500,000 to $599,000 range.

In that range, the absorption rate is six months. As a seller, the smart thing to do here is actually to list your home for slightly less because it means the demand is higher in that lower-supply price range.

On top of that, we can also note that the list price to sale price ratio is 99%. Simply put: overpricing a home no longer works in today’s market.

If you want to know these helpful facts and have access to this kind of information, you need to work with the people who are studying the market each week.

So if you have any other questions or you’d like help with any of your real estate needs, feel free to give me a call or send me an email. I look forward to hearing from you.

Should You Be Worried About Radon in Your Home?

Should You Be Worried About Radon?   Are you buying?  Are you living in a home?  Are you selling?
Worried About Radon in Your Home?
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Today I’m joined by Dan Heilmann from D&D Radon and the Integrity Inspection Group. Dan is here to help buyers, sellers, and homeowners understand – should you be worried about radon in your home? Homeowners should not turn away from a home that may have high levels. He has tested more than 25,000 homes throughout Southeastern Michigan.  He  brings more than 29 years of knowledge and experience on this subject.

What is radon? It is a naturally occurring, cancer-causing radioactive gas. You cannot see, smell, or taste it, but it may be a problem in your home. The Surgeon General has warned that this is the second-leading cause of lung cancer in the United States today. If you smoke and your home has high levels, you’re at a higher risk of developing lung cancer.

Radon is the leading cause of lung cancer for nonsmokers in the U.S. and is associated with more than 20,000 lung cancer deaths each year. Some scientific studies of this exposure indicate that children may be more sensitive to radon. This may be due to their higher respiration rate and their rapidly dividing cells, which may be more vulnerable to radiation damage.

Should you test for this gas? Absolutely—testing is the only way to know your home’s levels. There are no immediate symptoms that will alert you to its presence. It typically takes years of exposure before any health problems surface.

Elevated levels have been discovered in every state. The US EPA (Environmental Protection Association) estimates that as many as 8 million homes throughout the country have high levels. Current state surveys show that one in every five homes has elevated radon levels that test above the EPA action level of 4 pCi/L.


Worried About Radon in Your Home?
Gas in Your Home?


Can you fix the problem? If your home has high concentrations, it can be fixed by a certified radon mitigation company. The cost usually varies between $800 to $1,200 and will fix the issue in most cases. Please consult your state radon office or the National Information hotline at 1-800-SOS RADON for a list of certified testing and mitigation companies or visit the National Environmental Health Association at You can also buy your own radon testing device.

If you are buying or selling a home, you will probably want to hire a professional testing company that uses a device called a Continuous Radon Monitor, or CRM. Contact your state radon contact for a list of certified service specialists. The Integrity Inspection Group can also be reached at 734-772-2789. They are certified in home inspections and testing.

Be sure to check out the USEPA’s Home Buyer’s and Seller’s Guide to Radon in its entirety to get a full understanding. Finally, if you have children, you should be more worried about this issue in your home as this could be more harmful to them, as reported by research.  You can read all the scientific research too.

To find more detailed publications on the effects of this gas, click here.

For more indoor air quality information based on your region and/or state, click here.

If you want to be part of our smart buyer plan, ask for a relocation package. If you have any other questions, please feel free to text or call 734-669-337. Email works too. We look forward to hearing from you in regard to your Michigan real estate!