Posted on August 9, 2016
TCAPS Preps Property Plans
August 9, 2016
Posted on August 3, 2016
July 2016 | By John N. Frank
Location within the neighborhood.
If your seller’s home is in a part of the neighborhood that borders a highway, train tracks, or an industrial area, it’ll likely fetch a lower price. Make sure you pull comps of other homes in similar locations to compare and explain pricing differences to sellers.
The home’s lot.
Take into account that hilly terrain can affect the usability of each home’s lot and bring your seller’s price down. You can have two one-acre lots next to each other, and one can be fully usable while the other is only half usable because of steep slopes, says Todd Gibbons of William Pitt Sotheby’s International.
Home owners who have done home-improvement projects typically get a higher price for their property. You should know which properties in the neighborhood have undergone renovations and how much they sold for so you can suggest to your seller what projects they should do if they want to boost their home’s sale price.
In some markets, the cost of land has dropped, making building a new home less expensive and, thus, more affordable for buyers. Sellers need to understand how competition from the new-home segment could affect their listing price. For example, in the suburbs of Chicago, where Michael LaFido of Marketing Luxury Group does business, building a house similar in size to an existing structure costs 20 percent less today than before the recession. Pull comps from builders in your area to show sellers the potential impact on their home’s value.
The difference between listing price and sales price.
Many sellers will go online to see listing prices for other homes on the market in their neighborhood and ask you to price their house accordingly. You need to explain that listing prices reflect what sellers are asking, not what buyers are willing to pay. That’s why sold inventory is more reliable for determining the realistic price of your seller’s home than the asking price of properties currently on the market.
Posted on August 3, 2016
Read more: What Sellers Need to Know About Comps
What’s more, 58 percent of home owners believe sellers have more power than buyers in the market right now. Redfin researchers note this is nearly the highest level of seller confidence they’ve recorded.
The top reasons sellers say they want to sell now:
- I want a larger or nicer home: 40%
- I am relocating to a new city: 24%
- I want to pull out my profit: 21%
- I want a smaller or less expensive home: 20%
- I have had a change in family status: 19%
- I want to move to a better school district: 15%
“Many move-up buyers have told me they are buying now to take advantage of low mortgage rates,” says William Porterfield, a real estate professional with Redfin in Little Rock, Ark. “Buyers are trying to get as much home as possible before rates rise.”
Still, some Americans expressed concerns about selling, mainly about finding a new home to buy when they sell their own.
The following were Americans’ top concerns about selling:
- I might not find another home I want: 30%
- Prices might fall before I sell: 26%
- I might not find another home I can afford: 25%
- General economic conditions might discourage buyers: 23%
- The appraisal might come in low: 19%
When it comes to setting the price for their home, 55 percent of home owners say they will price in the middle range based on comparable sales. However, 19 percent of home owners said they would price high, citing that negotiation is inevitable. Also, 12 percent of home owners said they would price high because if the market didn’t value their home, they would wait until it did.
“While we’re noticing a shift among sellers in terms of their confidence in getting their homes sold quickly and for good prices, it’s up to the agent as their advocate to keep their expectations grounded and recommend a pricing strategy that is most likely to get the best value for their home,” says Sascha Gummersbach, a Redfin real estate agent in Atlanta. “A seller’s market doesn’t grant home owners a license to skip things like valuable upgrades, home staging or setting a price based on comparable homes in their neighborhood.”
Source: “Most Home Sellers Think Now Is a Good Time to Sell,” Redfin Research Center (July 28, 2016)
Posted on July 18, 2016
Read more: Take Control of ID Theft
People can do a few things to protect themselves from identity theft during a move, says writer Adam Levine, author of “Swiped: How to Protect Yourself in a World Full of Scammers, Phishers, and Identity Thieves.” He says to focus on the 3 M’s: 1. Minimize your exposure 2. Monitor your accounts 3. Manage the damage.
Here are some of Levine’s other tips:
- Don’t share too much: Before, during, and after a move, avoid sharing too much information with those you don’t know, whether in person, on the phone, or via social media, Levine writes.
- Secure electronics: Set long, strong passwords, and use two-factor authentication whenever possible. Secure computers, smartphones, and tablets.
- Protect documents: Shred sensitive documents you no longer need. During a move, carry your personally identifiable information with you and in one box.
- Monitor for fraud: Check your credit score and consider enrolling in transactional notification programs. You also might consider subscribing to various credit and fraud monitoring services to alert you to any sudden changes on your credit report.
- Watch your mail: Your mail will be influx when moving so look into doing more online billing and autopay to prevent lost or forgotten bills.
- Make address notification a priority: Notify federal agencies that send you mail of your new address. Compile a list of places to inform of your new address, such as the Social Security Administration, IRS, and Department of Motor Vehicles.
Posted on July 7, 2016
Properties are selling faster nationwide, too. In May, homes across the country were typically on the market for 32 days on average (compared to 39 days a year ago). Short sales tended to stay on the market the longest amount of time, at 103 days on average, while foreclosed properties were on the market for 51 days. Non-distressed properties stayed on the market for an average of 30 days, according to the National Association of REALTORS®.
Nearly 50 percent of sold properties nationally were on the market for less than a month, according to NAR. Only about 11 percent of properties sold in May were on the market for longer than six months.
Source: “In What States Did Properties Sell Quickly in March-May 2016?” National Association of REALTORS® Economists’ Outlook Blog (June 28, 2016)
REMEMBER REAL ESTATE IS LOCAL – EVERY TOWN/TOWNSHIP/AREA IS DIFFERENT! Traverse City is seeing days on market of a week or less in most cases for price points under 200-220k. Thinking of buying or selling contact Jon Becker – Century 21 Northland anytime 231-342-5401 or firstname.lastname@example.org
visit www.c21jb.com for all area information, links and real estate listings.
Posted on July 7, 2016
Let the Machines Do It
HuaShang Tengda printed an entire 4,300-square-foot home in 45 days, with walls up to 8 feet thick that are designed to withstand a magnitude 8 earthquake.
Curbed.com reports that “construction workers prepared the site and installed the building’s frame, plumbing, and rebar supports.” With the building’s infrastructure prepared, the 3-D printer then created the structure. HuaShang Tengda’s device uses four separate systems to formulate ingredients, mix the concrete, control the transmission, and print the home.
“A specially designed split nozzle,” says Curbed, “spits out concrete simultaneously on the interior and exterior sides of the rebar support, creating a sturdy construction.” The home used about 20 tons of concrete.
The 2008 earthquake in China’s Sichuan province, at magnitude 7.9, claimed nearly 80,000 lives. HuaShang Tengda developed the technique to help make safer homes more widely available.
Source: “3D-Printed Chinese Villa Is Virtually Indestructible,” Curbed.com (July 6, 2016)
Posted on June 24, 2016
When looking for the Best Small Town for 2016, all signs point north to Traverse City. The town of 14,600 consistently ranks on the annual Livability list of the 10 Best Small Towns (this is its fourth year in a row), and it’s easy to see why. With its freshwater beaches, sprawling vineyards and breathtaking views of Lake Michigan, visitors and newcomers have more than enough excuses to quickly fall in love with this Midwestern town.
Traverse City offers residents plenty of places to play and enjoy a healthy, active lifestyle. “There are hundreds of square miles of state and national forests, dozens of nature preserves and wildlife refuges for hiking, cycling and beachcombing,” says Michael Norton, Media Relations Director for the Traverse City Convention & Visitors Bureau. “Some of the nation’s finest trout streams are located here, and our lakes and rivers are perfect for sailing, boating, swimming and canoeing.”
While a large part of the town’s economy is based on tourism, Traverse City is still agricultural at its heart. The Traverse City area is the country’s largest producer of tart cherries, harvesting 360,000,000 pounds of them annually. Each July, the town celebrates the cherry harvest with the weeklong National Cherry Festival, complete with fireworks, a parade, live music and pie-eating contests. The town’s location near the 45th parallel also makes it ideal for growing grapes, and there are more than 50 wineries in the Old Mission Peninsula wine region, of which Traverse City is a part. Traverse City also boasts a thriving craft brewing scene, with 18 microbreweries, not to mention the brew pubs and craft brew taprooms. As a result, Livability named Traverse City one of the 99 Best Beer Cities in 2015.
“Traverse City is a great place to indulge the appetite, too. Our restaurants feature a growing cadre of talented and original chefs and some of the best locally-produced wines and craft brews being made in this part of the world. Top chef Mario Batali is a big fan of our food scene – he even bought a house nearby,” Norton says.
The town’s diverse range of restaurants, which helped land Traverse City on Livability’s list of the 10 Best Foodie Cities in 2014, are also a great place to people watch, especially for the celebrities that flock to the beach town in the summers. Traverse City’s burgeoning culinary scene ranges from traditional American fare to farm-to-table favorites and ethnic eateries.
Another of the Traverse City’s draws is the diversity in housing and neighborhood options.
Whether you choose to buy a condo in the Downtown District along the bay with its mix of cultural, shopping and dining options, or a Victorian in the historic Grand Traverse Commons, you’re sure to find friendly neighbors, good schools and access to parks and other quality-of-life conveniences. Traverse City Area Public Schools is the largest school district in northwestern Michigan, and is consistently ranked as one of the top districts in the state. The school system also boasts an award-winning music and performance arts program, provides students with an international education, introducing them to world languages such as Mandarin Chinese and gives families options such as preschool and Montessori programs and Early College and Dual Enrollment to allow high schoolers to earn college credit.
Posted on June 21, 2016
3 Br 2 Bath, Heated Garage, Double Lot
• 1,115 sq. ft., 2 bath, 3 bdrm ranch – $125,000. Near Lakes & State Land
Interlochen, Grant Township – Newer 3 BR 2 Bath home with open floor plan, hardwood floors in kitchen & dining , island kitchen, laundry/mud room, private master suite, central air, high speed cable and internet available, and finished/heated garage set on double lot near State Land, Duck & Green lakes, river, Arts Academy / Interlochen and approx. 20 25 min drive to Traverse City .
Updated on June 23, 2016
Will City Build Boardman Lake Avenue?
June 8, 2016