Real Estate Market and Economic Information 
There are currently 7 blog entries related to this category.
Silver Lake Michigan Real Estate Stats - 2011 Sold Data Analysis
Friday, February 3rd, 2012 at 7:12am. 117 Views, 0 Comments.
Last Year, there were 32 homes sold in the Silver Lake, Mears Michigan area (49436 Zip Code). They ranged in price from $30,000 to $399,900. The average home sold for $125,510 in 182 days at 97.1% of full listing price. There are currently 42 homes on the market, so that calculates into about 16 months of supply. With this much "supply," it is important to price a home appropriately in order to sell it in a reasonable amount of time. A deeper look into the numbers reveals that although the average home sold for 97% of the listing price, the original asking price was higher. The average home sold for 91% of the original list price.
2011 Silver Lake Real Estate Sales |
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Waterfront Real Estate in Pentwater is still selling
Wednesday, January 25th, 2012 at 9:05am. 71 Views, 0 Comments.
In 2011, there we 39 homes sold in Pentwater. Of these, 24 were on the water or had water access. This includes Pentwater Lake, Bass Lake, and Lake Michigan mostly. So waterfront homes accounted for nearly two-thirds of all sales in Pentwater. This is interesting in light of the fact that waterfront homes only account for about one-third of all active MLS listings. There are currently in 91 homes on the market in Pentwater and 34 of those are waterfront properties.
2011 Coming to a Close and Things are Looking Up
Saturday, December 31st, 2011 at 8:39am. 77 Views, 0 Comments.
Everyone I talk to here in West Michigan is seeing an uptick in new construction. The guys down at the lumber yard, my trade partners and vendors, everyone is saying the same thing; that builders have work. This is a change from prior seasons when it seemed many builders were just doing odd jobs to stay busy. We're still a long way down from the peak, but it's good to hear that other builders are finding work, too. Here at Maplewood Homes, we sold 5 new homes in 2011. Our best year, before the economic downturn, we sold 19 new homes, and you can see that we're well below that. Still, this is a 66% increase over the 3 "build jobs" we had in 2010. Slow, steady recovery in the housing market is probably all we could hope for and if it…
New Strategy Emerging for Selling Your Home
Saturday, June 11th, 2011 at 8:51am. 161 Views, 0 Comments.
When it comes to selling a house, the prevailing wisdom has always been to price it above what you are willing to accept in order to be able to "come down" when someone writes an offer. The down side to this method, however, is that some buyers who are looking in your "real" price range won't even look at the house. Also, in today's real estate market, overpriced homes are simply ignored.
To sell your home in the current real estate environment, I would instead recommend pricing it more aggressively and then holding firm on the price. The primary advantage to doing it this way is that your home stands out among all the others as being priced attractively. You may still get "low-ball" offers, but if you are confident that the home…
Oceana County Census Data
Tuesday, April 5th, 2011 at 6:04pm. 215 Views, 0 Comments.
Michigan was the only state in the union to lose population over the past 10 years. While the total population in the US grew nearly 10%, Michigan lost over 55,000 residents. This obviously affects our real estate market because when someone gives up on Michigan, and decides to leave the state, they can't take their house with them. Michigan is unique in that our housing collapse wasn't caused by over-building, like it was in Florida, California, and Nevada. It is primarily a result less people living here, leading to lower demand for homes. As you can see by the chart below, Oceana County was hit pretty hard. 303 is not a lot of people, but it is actually twice the statewide average on a percentage basis. The silver lining is this: At…
Mason County Census Data
Tuesday, April 5th, 2011 at 5:56pm. 160 Views, 0 Comments.
Michigan was the only state in the union to lose population over the past 10 years. While the total population in the US grew nearly 10%, Michigan lost over 55,000 residents. This obviously affects our real estate market because when someone gives up on Michigan, and decides to leave the state, they can't take their house with them. Michigan is unique in that our housing collapse wasn't caused by over-building, like it was in Florida, California, and Nevada. It is primarily a result less people living here, leading to lower demand for homes. But there is always good news. First of all, I think the mass exodus out of Michigan has slowed, if not halted entirely, and we are working through our excess housing stock. Secondly, all real estate is…
Good News for Housing Starts...
Wednesday, March 16th, 2011 at 1:43pm. 146 Views, 0 Comments.
For February, Housing Starts Fell to a rate of 479,000 annual units, the second lowest on record. Why is this good news? Because the biggest problem in the industry right now is excess inventory and the sooner we get back to normal, the sooner housing will recover. So, for now, a low number of new starts will help everyone in the housing and real estate industry.