Southeastern Michigan Real estate Podcast with Greg and Wendy Kime Kime Realty

Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation We just wanted to send out a quick, final reminder about our upcoming pie giveaway for our raving fans. If you haven’t RSVP’d yet, please give us a call at (734) 315-0555 and let us know whether you’d like a free apple or pumpkin pie this year.  We’ll have everything ready for you to pick up on November 21 at Laurel Manor from 4 p.m. to 7 p.m. The address is 39000 Schoolcraft Road, Livonia, MI. “ Let us know by November 14 if you want one. ” If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon and we hope to see you on the 21st!

Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation Thanksgiving is coming up soon. Do you know what that means? Our annual client appreciation pie party giveaway is coming up soon as well. On Tuesday, November 21st (two days before Thanksgiving), we’ll have pies ready to go for all of you who have supported and continue to support our business. This is just one way we want to say thanks and give back. “ Join us on November 21st from 4 p.m. to 7 p.m. ” Come out to Laurel Manor (39000 Schookraft Rd) in Livonia from 4 p.m. to 7 p.m. on Tuesday, November 21st to get your pie. To reserve your pie, just give us a call at (734) 315-0555 by November 14th and we’ll get you on the list. If you have any questions in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon and I can’t wait to see you on November 21st!

Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation Renting might work better for some people but from a financial standpoint, it’s definitely better to own than to rent. According to the National Association of Realtors, a homeowner’s net worth is 45 times greater than a renter’s. Another reason to consider buying instead of renting is that home values are on the rise. According to CoreLogic, home prices are up 7.2% over the last year here in Michigan. Going forward, home prices are predicted to increase by 6.4% over the next year. The national average is 5.2%, so Michigan is outperforming the national numbers. “ Home prices will only continue to go up, increasing homeowners’ net worth. ” According to ATTOM Data Solutions, homeowners who sold in the second quarter realized an average price gain of $51,000 since buying their home. That is the highest average price gain for home sellers since the second quarter of 2007, when it was $57,000. In other words, homeowners in the second quarter of 2017 got an average return of 26% on the previous purchase price of the home. That is the highest average return on investment for home sellers since the third quarter of 2007, when it was 27%. ATTOM’s report also shows that homeowners who sold in the second quarter had owned the home for an average of 8.05 years. So, as a homeowner, your net worth is higher and, when you move, you have the opportunity to get a good return on your investment. You can’t get that when you rent a home. If you have any other questions about owning versus renting or if you’re interested in making a move, just give me a call or send me an email. I would be happy to help you!

Low inventory and high demand have led to a 7.7% appreciation in home values in our region. Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation What’s happening with home prices right now in Southeastern Michigan? Let’s look at some national statistics and see how home prices are changing.   First, our national average for days on market is 28 days. I’ve never seen a number that low in my 24-year career, and we’re certainly seeing a trickle-down effect in our market—some of our listings are selling in less than a week or even a day or two. According to the latest report from Freddie Mac, the number of homes sales increased from 632,000 in June 2016 to 656,000 this past June. In our Midwestern region, the number of pending home sales decreased year over year by 3.4%. The main reason for this is the low inventory levels we have. Our low level of inventory has lead to an appreciation in home values. Low inventory leads to an appreciation in home values, and many listings are getting multiple offers because there are more buyers out looking for homes than there are homes available. Another factor driving appreciation is the fact that distressed properties have dwindled down to 4% of the market, which is great. Between 2008 and 2012, 35% to 40% of the market was either a short sale or foreclosure, but 4% is a much healthier number.   In the Midwest, all of these factors have led to a 7.7% appreciation in home values. If you have any questions about these figures and what they mean for our market or you’re interested in having an equity evaluation done on your home, feel free to give us a call or shoot us an email. We’d be happy to help.

Today I wanted to give you a bit of an update on how consumer confidence has grown within the real estate market. Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation Today we’re going to be talking about consumer confidence in terms of the real estate market. According to a recent Gallup poll, 34% of those polled believe that the best long-term investment choice is real estate—ahead of stocks and mutual funds at 26%. 85% of Americans now believe that purchasing a home is a good financial decision. That’s a great number to see, as it’s the highest percentage since 2007, before the Great Recession. According to Sean Becketti, Freddie Mac's chief economist, “A decade after the Great Recession, the housing market is rebounding.” Lawrence Yun, the NAR Chief Economist, had this to say about the current real estate market: “Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”  “ If you’re thinking about putting your home on the market, now is the time to do so. ” So, if you’re thinking about putting your home on the market, now is the time to do so. Give us a call if you would like to list your home, as the majority of our listings are selling in less than 30 days and in many cases, for higher than list price if we price them correctly. If you have any additional questions about this topic or you want to list your home for sale, give us a call. We’d be happy to help!

Our home search website is one of the best out there. Here are the advantages of using it. Buying in Southeast Michigan? Perform a full home search Selling in Southeast Michigan? Get a free Home Price Evaluation If you’re in the market to buy a home, our website offers a unique home search feature that we think you should be aware of. There’s a widget located on the right side of this page. It’s a quick portal to our home search website, located right underneath the market snapshot. All you need to do is type in the area you’re looking in, the number of bedrooms and bathrooms you want, add your price range, and click “search.” The widget will lead you directly to our live feed of listings, which are pulled directly from the MLS constantly. If there is a property that you want to take a better look at, simply click the address and you will find photos, specs, and other information about the home. “ The widget will lead you directly to a live feed of listings. ” This is a really useful tool that many of our clients have used successfully in the past. If you’re searching for a home, we hope it helps you too. If you have any questions for us at all, don’t hesitate to reach out. I look forward to hearing from you soon.