Team366.com has launched in Ann Arbor, Michigan and Beyond
2007-06-21 17:09:05
Welcome to my blog, well my team blog.
I’m Eric Pointer, President & CEO of Team366, a highly focused group of tech savvy Realtors, located in Ann Arbor, Michigan
serving Ann Arbor, Saline, Milan, Dexter, Chelsea, Manchester, Grass Lake,Whitmore Lake, Pinckney, Brighton, Plymouth, Canton, Novi, Northville, and Western Wayne and Livingston Counties.
We are “servant Realtors”–professional Realtors who do what highly charged client- and community-focused folks do, serve.
“But that’s not all, there’s more!” is our motto! It’s rooted in the belief that there’s always more one can do to improve oneself and systems.
We are Hightech, Hightouch and Community minded and Kaizen is our middle name.
Team366.com is a newly formed Realtor team affiliated with Real Estate One, Michigan’s largest real estate brokerage and Team366 members are totally committed to pr
How to Buy or Sell In Today’s Market: A Primer
2007-06-19 09:35:48
Let’s face it, this market is a home buyer’s paradise. High levels of inventory and near historic lows on mortgage rates are causing buyers to “fall off the fence.” Maybe not in record numbers, but buyers do exist in this market. Big House Data’s recent monthly release points out there are roughly 16% active buyers in this market than last year. This loss of buyers in the market and the inflated amount of inventory only exacerbates the perception that nothing is selling in this market. The flip side to that 16% loss of buyers is that there are still 84% of the numbers of buyers in this market compared to last year. So, yes, Virginia, homes are still selling!
This article from MSNBC.com points out that across the country, new home construction is in decline, yet the Midwest is up about 15.5%. I would be shocked to learn that Michigan registered in the positive for new home construction, but it is encouraging to see t
Read more: Today
, Market
OOOO…Neat Tool From Trulia
2007-06-16 08:37:02
Here at the Team366 Blog, we are kind of hung up on numbers and stats. While they don’t provide a fool proof way to prognosticate on the future, stats certainly do give us a very clear picture of what happened.
Trulia recently threw out a nifty tool on their site called hindsight. And while hindsight is usually 20/20, this tool is only as good as the public records information that Trulia can get their hands on. Here’s the link to the hindsight timelapse of “Urban Decline in Detroit.”
When will they get the Ann Arbor area’s housing datab ase up and running? It will be intriguing to see the pattern of growth around the universities and the manufaturing plants outside of Ypsilanti.
This kind of “mashup” of data and web 2.0 visualization, while seemingly mundane, could give city planners an insight into the growth patterns of their cities. Match the growth with the major events in the region and a pattern could
Read more: hellip
May 2007 Housing Stats
2007-06-14 15:42:46
What appears to be a regular feature on this blog, is the monthly rolling out of Big House Data’s housing stats. Well, let June be no exception!
From the BHD Executive Summary:
The mantra in this market is: price moves homes. Location, price and condition are the traditional three keys to selling real estate. Sellers have ultimate control over two of the three. When condition and price converge in the mind of the buyer, the property sells. And the stats show that compared to last year’s market, 84% of the buyers are still there. [emphasis added by editor]
84%? That means that the number of closings this year, compared to last, are down 16%! Phew. And that’s just from the first five months of 2006 compared to the first five months of 2007.
For the folks looking for some graphs:
Average List Price
The average list price for a home in Washtenaw County in May 2007 was $2
Read more: Housing
, Stats
Sunday Open Houses: 2-4 pm
2007-06-07 15:14:10
This Sunday
, come on by and visit with myself and Jim Tillman, as we hold a couple of beautiful homes open.
First up is Jim’s open house at 2453 Bunker Hill. From the description:
This home is lovely in every way. Cared for meticulously for over 30 years by the same family, this 3 bedroom, 2.5 bath beauty is one you’ll write home about: Walking distance to Thurston Elementary and Clague Middle School on picturesque Bunker Hill; backs to woods, has a sunroom where you’ll wish you could spend your entire day; completely remodeled kitchen with perennial gardens galore, new roof & windows and a whole lot more.
After you visit Jim, come around the corner and visit yours truly at 2731 Aurora. From the description:
Beautiful Northeast Ann Arbor ranch home located nearly all the cool stuff: Walk the library, Thurston Elementary, Clague Middle school and both AATA and UM’s bus stops. Hardwood floors, 3 bedrooms, 2 baths, a full finished basement that’ll ma
April Ann Arbor Area Housing Statistics
2007-05-11 11:30:11
Big House Data pulls through again! April
2007 Ann Arbor area housing statistics are available. Before discussing the stats, if you would like a full copy of the stats package, please drop me an email at todd-at-toddwaller-dot-com.
average list price
The overall average list price was $235,573, down nearly 2% compared to April 2006. Year to date, the list price is down nearly 3% compared to the first four months of 2006.
average sales price
April saw an average sales price of $210,732, down over 7% from April 2006. County wide, the average sales price, year to date, is down 6.5%, compared to the same four months in 2006.
Average List Price v Average Sales Price
Last month’s dip in average list and sales price saw the trend line gap close. This month, t
Read more: Housing
, Statistics
Flippers, Foreclosures and Subprime. Oh My!
2007-04-22 07:40:37
Sunday’s Ann Arbor news spotlights the coming boom in foreclosures to Washtenaw County. It was thought that Ann Arbor and the surrounding environs was a relative island amongst the pain in the housing market in SE Michigan. However, every island, no matter how beautiful and idyllic will see some storms and this appears to be ours.
The first article in Sunday’s paper is about prospective speculators/investors snapping up properties at the courthouse steps. If you are considering going after foreclosed properties as an investment, the article does not do enough to stress enough the need for detailed due diligence on any property that you are considering. Truly, the purchases at the courthouse are “Buyer Beware.”
The flip side to “Buyer Beware” on courthouse steps purchases is that those purchases are the ones that will maximize your return on investment. When and if you find the property, and your due diligence
Read more: Foreclosures
, Subprime
March Housing Stats for Washtenaw County
2007-04-14 16:49:27
Well, this could be an interesting year for real estate in Washtenaw County
. What initially looked like a split personality in the market, finally resolved itself in March
. The first quarter of 2007 is behind us and it is safe to say that the market is getting tougher on sellers.
Average List Price
Average Sales Price
I don’t think much needs to be said about these two charts in conjunction with each other. From the Big House Data Executive Summary:
The split personality has also resolved itself in the average list prices and sales prices. While list prices jumped in February, March realized a nearly 14.5% decrease in average list price and a nearly 11.5% decrease in average purchase price.
Across the market in Washtenaw County, the word is out. Price fishing will not work. Price the property aggressively up front and it will not sit long on the market. Anecdotally, Big House Data has heard of homes being on the market onl
Read more: Housing
, Stats
Subprime Mortgages. An Aha! Moment.
2007-04-11 20:52:02
A sad, yet interesting phenomenon has been happening with greater frequency in the realm of real estate. That’s the talk of and acceptance of short sales as a way to sell a home.
Short sales, in the “Cliff Notes” version, are the way for sellers to negotiate directly with a bank or note holder the difference in sales price and amount owed on the loan. In other words, a short sale is when a seller realizes that they cannot continue to make payments, cannot get out of the house what they owe in the current market, yet negotiate with the holder of their mortgage note to “forgive” the difference between the loan balance and the sale price of the property. It is the final option, in many cases, prior to outright foreclosure.
Many of the foreclosures that Michigan is seeing is a result of a higher unemployment rate, coupled with a high number of subprime mortgages. A subprime mortgage is a loan that has a higher interest rate attached to it due to the bu
Read more: Subprime
, Moment
Let’s Make Something Happen!
2007-04-10 10:37:10
The market is heating up!
When it comes to the local market, the media is simply wrong and one-sided. The truth of the matter is that Spring has sprung and buyers and sellers are at it again! Homes are selling–sellers are upsizing, downsizing, and relocating, and buyers are flocking to Well-Priced homes, buying them, and moving in. Yesterday I wrote an offer on a Well-Priced home in a golf course community and two other agents were doing the same. Believe it or not, multiple offers are still common and Well-Priced homes are selling fast.
The truth is that active inventory/sold properties, time-on-the-market, employment forcast, and many other assumptions are used by ”experts” to define and “explain” the broader market. Personally, I couple my markets stats with a “Boots on the Ground” approach. This allows me to focus primarily on micro-economic indicators and ac
Oh Joy! Inman Blog Love!
2007-06-25 17:52:31
It’s been so busy around here, it has taken me until now to realize that Inman
Blog took notice of our market innovations!
Brad, thank you for the kind comment and the linkage! Greatly appreciated!
Technorati tags: Inman Blog, Team366, Web 2.0, Real Estate, seller tools, marketing
I Turn my Back….
2007-06-23 10:00:47
Holy Smokes! So, Eric and I put our noggins together, form Team366, give him access to a blog and off he goes! Sheesh.
Well, welcome to Ann Arbor’s #1 Source for Real Estate Information. You’ve obviously landed on our website since you are reading this, or you’ve bumped into us via a syndicated feed. In that case, simply type blog.team366.com into your address bar and you will be taken to the Team366 blog! It’s that easy.
As Eric pointed out earlier, Team366 is committed to High Tech and High Touch real estate with an eye on improving the world around us. To that end, keep checking in on this space for future announcements.
This weekend features three Real Estate Chats and Open Houses from Ann Arbor to Chelsea.
Check us out on Facebook (Eric & Todd), YouTube, vFlyer and the web as a whole! As Team366 breaks out new real estate marketing techniques to the Ann Arbor real estate market, you will be su
Read more: hellip
5 Ways to Minimize Moving Stress
2007-06-23 09:38:18
Did you know that for most people, moving ranks near the top of the list of stressful events? Here are some things you can do to minimize stress when you are ready to make a move:
Choose a real estate agent who communicates clearly and frequently, keeping you up to speed on every step of the process.
Consider how long it will take from the time you make an offer on a property until the transaction closes. Once an offer is received and accepted, it may take from 30 to 45 days to obtain financing. Being preapproved for a loan can shorten that time frame considerably.
Decide whether you want to move yourself or have professional movers handle the job. If you hire a moving company, be sure to book well in advance.
Think about cleaning services. After everything is packed and moved is a great time to have someone come in and clean.
Arrange at least two weeks in advance to have utilities and phone service disconnected at your old house and reconnected in your new home on move-in
Read more: Moving
Home Buyers: 4 Steps to Ensure a Great Deal
2007-06-23 09:33:17
Okay so you’ve found the perfect home and negotiated a ”great deal”, now what?
Part and parcel of a “great deal” is the opportunity for purchasers to back out if issues are discovered as a result of inspections and attorney review of documentation
All “great deals” include an opportunity for buyers to have professional inspectors inspect the physical and environmental aspects of the property and to have an attorney review the contract language, title evidence, and association rules and bylaws. The inspections and reviews must occure within certain time frames detailed in the contract. If the tasks outlined in the contract are not completed within the time frames outlined in the contract, the contract is usually voidable by either party by written notice to the other at which time the Earnest Money Deposit is usually fully refundable.
My purchasers
Read more: Buyers
, Great
, Home Buyers
Home Buying 103: 2 Common Reactions to a Buyer’s Accepted Offer
2007-06-23 09:26:56
When you make an offer on a new home and it is accepted, one of two things usually happens:
Buyer
’s Remorse
You’ve made an offer. It was accepted. You’ve almost bought your dream home. Then, later that night, or the next day, you start worrying. Did I make a good decision? Can I afford it? What if this happens? What if that happens? Anxiety and stress set in.
This is a very normal reaction. It is called buyer’s remorse.
The best way to handle buyer’s remorse is to take out a sheet of paper and draw a line down the center. On one side, list all the positive things about buying this home. On the other side, list all of the negatives. You will come to realize that buying this home is a really good decision. I will be with you step by step to help answer any questions and concerns.
Shopping Spree
Buyers are frequently so excited about the new home that they go out and order new furniture, appliances, window treatments, and sometimes even a new car! Thi
Read more: Buying
, Common
, Reactions
, Accepted
, Offer
Home Buying 102: 3 Points For a Winning Offer
2007-06-23 09:24:10
When you are ready to purchase a home, I will negotiate on your behalf to help you get the best house your dollar can buy. I can act as a buffer to minimize the emotional elements so you can enjoy the process.When you make an offer on a house, the seller can accept it, reject it, or counter it. If the offer is too low, the seller may reject it outright. Or the seller may counter the offer, naming a price or other specifications that are more in line with his or her expectations.If a property is in strong demand, it may receive several offers. Then the seller may choose to accept the highest one or the one from the most qualified buyer.
Here are some tips to make sure your offer is accepted in any market:
* Be pre-approved by a lender, not just prequalified. This strengthens your position.
* Provide a substantial earnest money deposit. This is “good faith” money that shows the seller you are serious about the property.
* Limit your contingencies to those most important to
Read more: Buying
, Offer
, Points
, Winning
Home Buying 101: 4 Practical Considerations to Remember
2007-06-23 09:12:30
Buying
a home is an important decision that can make an enormous difference in your lifestyle. It is also the biggest financial transaction you may make. There are some specific things to consider about a home to buy.
* Be realistic: There are no perfect homes. Decide what is important to you, and make sure you find a home that has the features you require. Be prepared to compromise on some of the items on your wish list.
* Decide on a price: Get pre-approved for a loan, not just prequalified. Consider not only the amount of the loan the lender will allow, but also what you feel comfortable spending every month. Take an honest look at your budget.
* Choose carefully: Buying a home is much more permanent than renting. Purchase a home that you are prepared to keep for a while. Select a home that will be reasonable to maintain, in both utilities and/or repairs.
* Build up to your dream home: Most people nowadays buy more than one home in their lifetime. The average turnaround time is sev
Read more: Practical
, Considerations
, Remember
Ann Arbor Open House and Real Estate Chat
2007-06-23 08:50:51
Sunday, June 24th, 2 - 4 pm: 1560 Kuehnle, Ann Arbor
The Best of the West(side)! Come visit Jim Tillman on Sunday as he hosts a Real Estate
Chat and Open house at 1560 Kuehnle in Ann Arbor. Jim will be there from 2 to 4 pm on Sunday, June 24th.
Check out the property through the Team366 vFlyer or take a quick run through the property on the Team366 exclusive YouTube tour below:
Technorati tags: Michigan Real Estate, Ann Arbor, Open House
, Team366, Real Estate Chat, For Sale, Single Family Residence
Ann Arbor: A "Value-Driven" Market without Question
2007-06-22 18:24:00
As a Realtor, I am often asked what kind of market we are in and my response is always the same.
I say that, contrary to what you are being fed by the media, it is not a buyer’s market or a seller’s market. It is a “value-driven” market, period, end of story.
What I mean by this is that no matter the market cycle, most buyers look for the best value and sellers attempt to position their homes to attract ready, willing and able buyers–no buyer, no sale, right?
During my past 14 years, and I suspect as long as trade has existed, ready, willing, and able buyers have had to pay more than they’d like to and sellers have sold their goods for less than what they though they should.
Buyers and Sellers don’t make decisions in a vacuum, however. Reasonable people make resonable decisions. Whether those decisions were great or not, is not decided until after the fact. After all, hindsight is always 20
Read more: Value
, Driven
, Market
, Question
Chelsea Condo Open House and Real Estate Chat
2007-06-22 12:02:16
Sunday, June 24th, 2 - 4 pm
The best price for a nearly new, beautiful Chelsea
Condo
! Come see 624 Riverstone and stick around for a chat with me about area real estate.
Check out the YouTube video of this wonderful condo:
Technorati tags: Michigan Real Estate
, Chelsea, Condo, For Sale, Team366, open house, Ann Arbor Area, Washtenaw County, Purple Rose Theatre
Read more: House
The Subprime Market: "Six-inch Hooker Heels"
2007-06-27 16:47:59
The subprime blowout is not over?
So, cruising around today on the RSS feeds and bump into this little beauty of an article on Inman News. Nevermind the icky feeling I get seeing two sumo wrestlers practicing their sport, there is something special about an article that describes how the most recent housing boom was somehow influenced by mortgage-backed securities (MBS) and collateralized debt obligations (CDOs) “six-inch hooker heels.”
(more…)
Read more: Subprime
, Market
, Hooker
, Heels
Team366 June Monthly Newsletter
2007-06-26 18:08:52
This months newsletter is posted below the fold. Read on for:
* 5 Questions Buyers Should use to their Advantage.
* Home Staging: Getting the Most out of it.
Contact Team366 for more information.
(more…)
Read more: Monthly
4 Common Moving Concerns
2007-06-26 17:39:59
Moving
is an adjustment, whether you are moving across town or relocating across the country.
Moving across town or to a new neighborhood may mean learning new routes to work, selecting a new dentist, and finding a new grocery store. It may also mean a change in schools if you have young children.
Moving across the country can be much more challenging. Relocation is rarely easy. But being prepared can help you make good decisions and ease the transition.
(more…)
Read more: Common
Team366 Real Estate Chat and Open House Schedule: Ann Arbor
2007-06-29 14:30:11
Sunday, july 1st, 2-4pm
The weekend must be around the corner - here comes the Real Estate
Chat schedule!
Mr. Jim “The Tiller” Tillman is hosting a chat at 2453 Bunker Hill, Ann Arbor. You can learn more about the property here.
Todd “Waldorf” Waller is hosting a chat this week at 2731 Aurora, Ann Arbor. Check out the vFlyer for this property here.
Mr. Eric “The Pointman” Pointer is hosting his chat at 1560 Kuehnle, Ann Arbor. vFlyer? Yeah, that’s here too. Check out the virtual tour of this home, the best of the West(side)!
These are the homes we will be at this weekend. Stop by, say Hi!
Technorati tags: Michigan, Real Estate
Chat, open House
, for Sale, Ann Arbor, Team366
Spread the Word! :
Read more: Schedule
Meadows of Van Buren Community Open House
2007-06-29 10:45:12
Saturday, June 29th, 2 -4 pm
This Saturday, June 29th, The Meadows
of Van Buren is having a multi-agent open house for condo buyers! From 2 to 4 pm, view 14 condos being held open by a dozen Realtors(R).
Attendees of the community-wide open house will be eligible to receive a $50 Meijer gift card through a drawing to take place at 4:15 pm. As you enter the complex, make sure to stop by the tent set up for your map of open units, information about the units and enter the drawing for the $50 gift card.
For directions to this unique open house experience, click here for the Google Map.
Technorati tags: Michigan, Van Buren, Meadows of Van Buren, Open House
, Team366, Belleville, condo
Times They Are A Changin’…
2007-07-09 09:50:14
Refrigerator staging, No, Really!
In the Ann Arbor Market, we’re not unused to vacant homes on the market. Like a lot of the SE Michigan area housing market, there are many vacant homes on the market. So it’s not unusual for an agent to have the home staged, that is, to bring in furniture and accesories with the expressed purpose of highlighting the space and layout of a property.
But now I’ve seen it all! Care of our friend Marueen of miOaklandCounty, is this dandy of a post: Refrigerator Staging.
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Technorati tags: Housing, Michigan, Real Estate, Ann Arbor, Team366, Maureen Francis, Staging, For Sale
Read more: Times
, hellip
Depot Town Summer Events
2007-07-07 10:34:39
If you are not familiar with Depot
Town in Ypsilanti, stop by this summer and get a flavor for this growing community. The Depot Town Association has an informative site put together with links to many attractions and activities in and around Depot Town (heads-up: turn your speakers down as the site loads - music alert).
The Depot Town Association has also put together a list of activities in Depot Town for the month of July and a little beyond. The list can be found here.
Of interest:
Depot Town Cruise Nights: Runs every Thursday evening from now through September 14th. The event is held on East Cross Street in Depot Town. Contact the Ypsilanti Automotive Heritage Collection at 734-482-5200 for more information
Michigan Elvisfest: July 13-14 at Riverside Park. Features karaoke, Pig Out in the Park and the Elvis Autorama. Check the official website for more information
Michigan Brewers Festival: July 27-28 at Riverside
Read more: Summer
Equity Preservation: Our Goal for Our Clients
2007-07-07 09:44:49
Team366 members have often been asked by potential clients what separates us from other real estate Teams.
The answer is simple, we have 50 plus years of combined experience, 100’s of sales under our belt and a huge number of satisfied clients, all of whom are ready to refer us at a drop of a hat. (We affectionately refer to them as our “Raving Fans.”)
We’re client-focused and intentional in our approach to the market, gathering and analyzing data that may impact property values going forward so that the long term value of any home you buy through us is as secure as possible.
Team366 focuses heavily on “Equity
Preservation” meaning that our primary objective is to make sure that you a re making a well-reasoned financial decision and of course, that you get the right home at the right price.
We pride ourselves on being on the “cutting edge” by staying on top of all relevant trend
Read more: Clients
Team366 Real Estate Chats This Weekend
2007-07-12 07:47:15
Sunday, July 15th, from 1-3 pm
Mr. Harry Kroth will be hosting a real estate chat and open house at 624 Riverstone, Chelsea, MI this Sunday from 1 - 3 pm. For a preview of this property, check out the YouTube video walkthrough.
Sunday, July 15th, from 2-4 pm
Mr. Jim Tillman will be hosting a real estate chat and open house this Sunday at 2731 Aurora, Ann Arbor. His chat begins at 2 pm and runs through 4 or whenever the owners come back! Check out the walkthrough video on Aurora here.
Sunday, July 15th, from 2-4 pm
Mr. Eric Pointer is hosting his real estate chat this week at 1444 S. Hidden Creek, Saline. Check out the Obeo virtual tour on this gem in Saline!
Directions
From the illustrious Google, that continues to push the envelope of information management, here is a map of our Real Estate
Chats this weekend.
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Technorati tags: Michigan Real Estate
, For Sale, open House, team
Read more: Weekend
Ann Arbor Area Housing Stats
2007-07-17 17:22:32
Let June be no different then the months before! It is time for monthly housing statistics from Big House Data!
From the Big House Data Executive Summary:
The effect of the Pfizer relocations will be felt for a time in Washtenaw County. Anecdotally, the post-buyout list prices are particularly aggressive. With this aggressive pricing, Pfizer isselling their properties, but the non-Pfizer owners in those neighborhoods will be dealing with lower property values as a result if they decide to put their property on the market. Thisanecdote goes a long way to emphasize the power of the convergence of price and quality. Obviously, the prices on these Pfizer relocation properties is such that the market is responding favorably and snapping them up before competing homes that, comparatively, are over priced.
(more…)
Read more: Housing
, Stats
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