The Macomb County Michigan Real Estate Blog

Local real estate sales in October increased in Detroit but fell in Dearborn and western Wayne and Oakland counties when compared to the same period a year ago. Sales in October showed:

• 628 homes sold in Detroit in October compared with 594 in October 2005.

• 175 homes sold in Dearborn in October compared with 190 in October 2005.

• 716 homes sold in western Wayne and Oakland counties in October compared with 877 in October 2005.

• 170 homes sold in Sterling Heights, Shelby Township and Macomb Township in October compared with 179 in October 2005.

Sales of existing U.S. homes showed an uptick in national figures released on December 28, 2006. Sales rose unexpectedly in November, as prices fell for the fourth month in a row, adding to evidence that the housing slowdown is ending.

Click here for more information.

A Shelby Township Michigan park will recieve a Michigan historical marker. The Riverbends Park is located on land along the Clinton River. It was once a stop in the "Underground railroad" and the used by the U.S.A. as a Nike missle base. The Spring Hill Farm was once owned by boxer Joe Louis. Dedication of the marker is planned for June of 2007.

Click here for more information.

Macomb Township, Michigan's Board of Trustee's has taken steps in creating a New Town Center. Located on a one square mile parcel between 24 Mile and 25 Mile Roads, and between Broughton and Luchtman Roads, the New Town Center promises to be the catalyst for a unique "Old Town" development. It is located in the Township's northeast quadrant. Click here for a map

Macomb Township has relocated their municipal offices on a vacant 79-acre parcel. Private developers will develop the remaining square mile. The Center will feature a mix of four carefully planned neighborhoods that focus on the traditions of neighborhood, style, and proximity to commercial and governmental operations. Entertainment in this "turn of the century" setting will feature among other things, parks and restaurants within walking distance.

Residential development will be a planned use of single family and multiple family dwellings crafted with architectural care. Approximately 2500 residential units are planned. Developers and builders will be restricted in building designs. All exterior architectural styles, must comply with the Town Center zoning restrictions. The homes will feature rear entrance garages with private drives.

Macomb Township has been one of the fastest growing communities in Southeast Michigan. The Board of Trustees has taken steps to plan for anticipated future growth. The Town Center will be directly connected to two nearby parks and a municipal golf course. A series of hiking trails and bike paths are also being considered.

The Macomb Township Board has constructed this New Town Hall without a tax increase! Macomb Township has the fourth lowest millage rate in Macomb County.

The infrastructure for this project started in the spring of 1999 with sewer lines being extended. The Macomb County Road Commission approved the Township plan to extend Broughton Road. Construction of this road is now under way.

As the Town Center area develops, more interest will be generated. This in turn will spur more growth in the area for commercial and residential construction. All of this will help keep the Town Center a bustling, vibrant part of Macomb Township, Michigan. Overall, the Macomb Township Town Center project holds many promises for the future!

Word-On-The-Street market snapshots

Tuesday, December 26, 2006

No one knows the local real estate market better than REALTORS.

I was quoted in INMAN news today and asked the following questions.

• How is your market?
• What's happening with prices?
• What do you anticipate the market will be like next year?
• What industry issues are you following?
• What's the biggest issue facing the industry next year?
• Do you plan to invest in new technology in 2007?

To read what I said, click here

David Elya
Broker/Owner
Realty Executives Group
Shelby Township, Michigan

It's all a numbers game ...

Having been a full-time REALTOR® for 16 years, I have always carried an average of about 5-7 active listings. In 2006 things were different. I am now up to a whopping 25 active listings and growing. What has changed? The Southeast Michigan economy is what!

This year our market time has increased dramatically! In the "good old days" (1995-1999), homes averaged about 10-14 days on the market. Starting in 2000 to about 2003 we averaged a little longer (30-90 days). In 2004, things started going south fast. From 2004 - 2005, I saw a shift to about 180 days. Of course prices responded as well. We witnessed sellers lowering their price to entice a sale.

Well in 2006, sellers suffered the most. Market time is approaching an average of 10-12 months. Sellers are now moving out without selling their property. Many homes are now vacant. Many properties are bank owned. Many buyers are asking the seller for concessions. Increases in creative financing with 2nd mortgages etc.

By increasing my numbers (listings) I have been able to maintain my income during this market adjustment. I have been able to survive by increasing my listing inventory, adjusting my advertising budget and pushing for price reductions when possible.

Other avenues that I feel have helped me is by going back to my database, mailing my clients, asking for referrals, telling the world that I am still a REALTOR®, increasing my Internet exposure, tweaking my websites and contributing to blogs like Active Rain.

Yes, the market here in Michigan is tough. But the more listings you are able to maintain, the better chance that one will sell! The more that sell, the better chance that you will survive! It's still all a numbers game!  

How are your 2006 numbers? How many numbers do you have to do in 2007 to maintain your income? I am now setting my 2007 goals!

December 2006 Macomb County Michigan Real Estate Statistics

In case you are wondering, there are 6519 residential homes for sale in Macomb County, Michigan.

Presently there are 550 pending listings awaiting a closing date.

Since the first of January 2006 there has been 6211 homes sold in Macomb County Township.

The condominium market is active as well. There are presently 1974 condos for sale.

Just 125 condos are pending.

During 2006, there have been 1429 condominium sales.

The real estate market in Macomb County has experienced an adjustment this year. Homes are taking longer to sell. But if the property is priced correctly, it can still sell. I like to think of this as the balloon deflating and NOT bursting. Macomb County over the past 10-15 years has enjoyed an increase in value nearly every year. 2006, was a correction in runaway increases. We have been affected by the economic conditions of the automakers. Many people are thinking of buying and moving up and into their next larger/newer home in Macomb.

What is the forecast for property sales in Macomb County Michigan you may ask? Well if you ask me, it is a prime time to buy a quality home in Macomb County Michigan! I am a life long Macomb County resident and foresee 2007 as an excellent time to buy! There are many homes to choose from. There are many deals to be had. Buyers can view many homes and condos for sale on my website HomesInMacombForSale

Housing in Macomb County Michigan is affordable and close to many jobs, services, and shopping! Feel free to contact me, David Elya, with your Macomb County Michigan Real Estate questions.

December 2006 Shelby Township Real Estate Statistics

Did you know there are 557 residential homes for sale in Shelby?

Presently there are 41 pending listings awaiting a closing date.

Since the first of January 2006 there has been 399 homes sold in Shelby Township.

As far as the condominium market goes, there are presently 196 condos for sale.

Only 16 condos are pending.

For 2006, there have been 126 condominium sales.

Needless to say, the real estate market in Shelby Township has been affected by the economic conditions of the automakers. Many people are thinking of selling and moving on to their next home. Wherever that may be?

What is the forecast for property sales in Shelby Township Michigan you may ask? Well if you ask me, it is a prime time to buy a quality home in Shelby Township Michigan! There are many homes to choose from. There are many values to be had. Buyers can view many homes and condos on my website ShelbyTownshipRealEstate.com. I can work as a "Buyers Agent" to help find the right home.

Housing in Shelby Township Michigan is affordable and close to many convenient services. Feel free to contact me, David Elya, with your Shelby Township Michigan Real Estate questions.

  I would like to focus on what, I believe, it means to be a REALTOR®.

I would like to ask you a question.

How many of you would consider yourself a real estate agent?

How many of you consider yourself a REALTOR?

I like to consider myself a REALTOR!

I have been a licensed real estate agent for over 15 years, 11 of these as a Broker.

But for the past 6 years I have been an active REALTOR!

How many of you own a REALTOR lapel pin?

How many of you wear it daily?

Let me share a quick REALTOR success story with you.................

As I was leaving a non-REALTOR event a few weeks back and awaiting my car from the valet, I began small talk with a woman standing next to me in the lobby. We discussed the weather and such. The woman then asked me if I was a REALTOR. Surprised by the question, I realized she spotted my REALTOR lapel pin. She said that she and her husband were new in the area and were looking for a REALTOR! Not having a pen or pencil on me, I gave her my card and asked her to give me a call. The next day I received an email from her husband. We are now working together to find their next home. Cha-ching!

Moral of the story ... Wear your REALTOR pin with pride!

It's important to be an active REALTOR. I urge you to become an active REALTOR, whether or not you're full time or part time, a new REALTOR or an experienced veteran.

Your local association is an association of REALTORS not just real estate agents!

People have asked me "Why should I re-new my association dues"? "What does the association do for me?"

Let's focus on what it means to be an active REALTOR, and what the association can do for you!

Consider being an active REALTOR and not just a real estate agent who joined the association of REALTORS® because their Broker told them to do so.

Not just a real estate agent who pays dues to "the board" for MLS access.

When I first started in this career, I didn't understand fully what it meant to be a REALTOR. What made a REALTOR different than a real estate agent?

Six years ago I was encouraged to become involved in our association by a fellow REALTOR. I quickly learned that by volunteering and becoming involved and active in our industry, that a REALTOR does more than just chase the next commission check.

A REALTOR is you!

A REALTOR abides by the Code of Ethics.

A REALTOR is a professional, not just a real estate agent!

A REALTOR continues to prospect for new clients daily.

A REALTOR boasts a proud work ethic, a sense of pride, a sense of caring for their community and giving back to their neighborhood.

A REALTOR cares about their fellow REALTOR.

A REALTOR has an obligation to promote and protect their client.

A REALTOR assists the public with their most important asset, their property, their home.

A REALTOR offers common courtesy when showing properties.

A REALTOR shows up for appointments that they have scheduled.

A REALTOR leaves a business card, turns off lights, and locks the doors when showing properties.

A REALTOR shares feedback to fellow REALTORS after showing a property.

A REALTOR understands that their Broker needs to make money too.

A REALTOR continues their education by attending many educational events, in order to be the best they can be!

I can't stress enough why I would like you to become involved! Become active! Many of you here are. And I thank you! This is your future, your career!

A REALTOR attends local, state, and national REALTOR conventions, functions, and meetings.

A REALTOR trades their time and wisdom to help fellow REALTORS.

A REALTOR volunteers to serve their fellow REALTORS on committees.

A REALTOR donates money to protect our profession. The best way to do that is through RPAC. A REALTOR understands that RPAC is the best way to have our voice heard by our elected officials.

A REALTOR is you!

So I urge you to consider being an active REALTOR! Not just a real estate agent!

But what can you provide the association?

How about your time? There are many committees and task forces that could use "fresh blood" in 2007. How about your knowledge? These committees strive to make the "right" decisions!

How about your experience? It's been said that experience counts.

What about helping with community service projects? There are many needy members in our community that could use a boost.

Belonging to your association is a good thing which helps you earn more money during this interesting year!

But what can your association do better?

What services should your association provide and offer you, the member?

What would you like your association to help you with?
What can your association do to help you become an even more successful REALTOR?

By participating and sharing, your local association will better serve you, the member!

As a volunteer director, it's encouraging for me to hear from you.

Outta my mind and onto my blog ....

Just wondering what other Active Rainers are using for CMA software? Are you using the CMA feature provided by your MLS? Or are you using a 3^rd party program such as Realty Tools, Real Edge, and Top Producer etc.?

Perhaps you are using nothing? And "winging it" when you meet your seller? Is that working for you?

I am in the market for a new solution. I have used one of the above mentioned programs for over 10 years and am not happy with their software, support and up-dates. I would like the new software to be fast and easily customizable by me. I would like a program that is not "canned" but can be tweaked to my way of (thinking) marketing. The software should be available on-line, have mail merge capabilities and look like I made the CMA "just for that particular seller". And of course I would like the software to be affordable, either a small annual maintenance fee or one-time purchase.

Interested in learning more from you.

Would you like to sell that house or wait?

I ask you, when is a house that is listed for sale, NOT for sale?

How about when it's NOT priced to sell?

It's no secret that metro Detroit homes can sit for months, sometimes years. Our market is flooded with sellers who may or may not be selling for a good reason. Some are selling because they "heard" market values were falling. Some are selling because they are empty nesters. Some are moving south. Some sell because they have inherited "grandma's house" and need to move it. Some are looking to trade up to a bigger, newer home.

But what happens to the market when a hungry REALTOR® puts up a "for sale" sign and waits for a buyer? The market becomes deflated. The seller then hopes that an uneducated buyer will find their property irresistible. If a buyer comes along, will it appraise? Will it come to a closing?

But today, many sellers are in a hurry to sell. Faced with a possible job layoff, plant closing, budget tightening etc. sellers are caught in a pickle. Do they list it for yesterday's price or today's price? What will tomorrow's price be? All of these things bring pressure to the market.

Buyers

What do you think? Do buyers want to jump in and buy at yesterday's value or tomorrow's fair market price?

Dangers of waiting 

I believe that by waiting for that "right" buyer to show up, sellers face an uphill battle. They may be required to pay double mortgages, double taxes, double utilities and insurance.

So I encourage you, when contacted by a seller, ask them if are serious about selling now. Would they like to sell, want to sell or need to sell?

Next question to ask, do you want to price it to sell, or are you hoping that a cash buyer comes along. Waiting for a buyer can be a dangerous strategy.

With few buyers in the marketplace, the more homes on the market, the lower the prices you can expect. This causes a downward pressure on a market that is ailing.

So I advise you to have your sellers to wait to sell, if they can afford to. Don't add to the number of homes already on the market.

Don't price the house for sale, if it's NOT priced to sell!