Lake Michigan living is a dream of millions.....here is a wonderful slide show of the peaceful living you could enjoy for years to come. Imagine building a family cottage that grandparents, children, aunts and uncles and cousins could hang out together for generations - celebrate 4th of July, summer picnics, Thanksgiving. New Year's. Most of all, the beach becomes your favorite hangout for walking, building sun castles and soaking up sunshine. Bring your chairs down to watch the sunsets...bonfires, marshmellows, story telling. A truely unique memory builder for generations...Spend a few minutes checking this out....all 4 seasons.
It is the only lakefront development in Arcadia township, just a couple of minutes to Arcadia Golf Course, nestled between Frankfort and Onekama.....
CLICK BELOW FOR A NEW 4 SEASONS LOOK AT PIERPORT SHORES.
http://picasaweb.google.com/sandpiper9952/PierportShores?authkey=Gv1sRgCNvx5NGHyaq1AQ&feat=email#slideshow/5375574439307898338
Monday, August 31, 2009
Monday, August 3, 2009
Now Is a Great Time to Buy
Attention all Shoppers! By the time you may decide to buy, prices may be on their way up. So if we are at the sloppy bottom, we should be seeing more sales. I believe part of a buyer's hesitation may be with the pricing.
Because of the slow sales in the last 12 months, it becomes increasingly difficult to get real estate priced right without a lot of comparables. Appraisers are having a tough time as well, to get the job done accurately.
And then there is the absorption rate. A "Balanced Market" is 6 months of active inventory. Anything beyond that is considered a Buyer's Market. That is where we are today in northern Michigan. We have been in a declining market for 48 months. Many of us believe we are at the bottom. How long we stay here depends on changing perceptions.
What does that mean for the buyer? When the market was balanced, we would show a buyer 3-5 houses and they would put a bid in on one. Now it is not unusual to show 20 or more homes to an individual buyer before they make a committment. There is simply a lot of available inventory. Buyers need to get focused on what is important to them, location, size of home, amenities. So I gonna switch things around a bit.
Buyers, decide what you want first, and then look at the pricing. I think we are going about finding homes for people backwards in the current market. We used to be able to ask first, "what price range are you in?" Lets face it, buyers and sellers agree pricing is high and low all over the place due to bank foreclosures, short sales, people upside down in their mortgages, old inventory with old pricing on it, new inventory priced right, etc. It's a mixed bag and not pretty. Obviously, you should have SOME idea of what you are qualified to spend - but focus on what you want. Please don't spend more than you can handle, but remember the definition of "Market Value". Market Value is defined as the highest price that a ready, willing, and able buyer would pay and the lowest price that a ready, willing, and able seller would accept.
Note to sellers: If you are getting lots of attention but no bids, maybe you should revisit your pricing if it hasn't been changed in a while. Ask your agent to provide you with the absorption rate for your type of property to get a better idea of pricing. They will be glad you did.
Because of the slow sales in the last 12 months, it becomes increasingly difficult to get real estate priced right without a lot of comparables. Appraisers are having a tough time as well, to get the job done accurately.
And then there is the absorption rate. A "Balanced Market" is 6 months of active inventory. Anything beyond that is considered a Buyer's Market. That is where we are today in northern Michigan. We have been in a declining market for 48 months. Many of us believe we are at the bottom. How long we stay here depends on changing perceptions.
What does that mean for the buyer? When the market was balanced, we would show a buyer 3-5 houses and they would put a bid in on one. Now it is not unusual to show 20 or more homes to an individual buyer before they make a committment. There is simply a lot of available inventory. Buyers need to get focused on what is important to them, location, size of home, amenities. So I gonna switch things around a bit.
Buyers, decide what you want first, and then look at the pricing. I think we are going about finding homes for people backwards in the current market. We used to be able to ask first, "what price range are you in?" Lets face it, buyers and sellers agree pricing is high and low all over the place due to bank foreclosures, short sales, people upside down in their mortgages, old inventory with old pricing on it, new inventory priced right, etc. It's a mixed bag and not pretty. Obviously, you should have SOME idea of what you are qualified to spend - but focus on what you want. Please don't spend more than you can handle, but remember the definition of "Market Value". Market Value is defined as the highest price that a ready, willing, and able buyer would pay and the lowest price that a ready, willing, and able seller would accept.
Note to sellers: If you are getting lots of attention but no bids, maybe you should revisit your pricing if it hasn't been changed in a while. Ask your agent to provide you with the absorption rate for your type of property to get a better idea of pricing. They will be glad you did.
Saturday, August 1, 2009
SOLD BY LYNDA BROWN - WATERFRONT
Very fortunate to have discovered the buyers seeking a waterfront property. This house has 150 ft on Portage Lake, the new owners are looking forward to taking their boat from the backyard out to Lake Michigan - for some of the finest fresh water salmon in the world.....
Yeah. Sold for $500,000. I'm lovin' it....
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