Real Estate Information Archive

Blog

Displaying blog entries 231-240 of 279

Winning a Bidding War

by Tom Stachler,ABR,CDPE - Group One Realty Team

There are numerous reasons that help to cultivate bidding wars. One of the most common is when the market has fewer homes than interested buyers. This increased competition doesn't mean that you can't get the Home of your dreams. Winning a bidding war is easy when armed with these helpful tips:

  • Being prepared is the best strategy when trying to win a bidding war. This includes having your financing ready. Sellers are more likely to accept an offer that is backed by a preapproval letter. Since preapproval can take a while, having accomplished that step is appealing to the seller.
  • Be sure to avoid making lowball offers. In the case of a bidding war, low offers aren't considered to be serious offers and are rejected immediately. If the home is out of your price range, keep it off of your list. In a competitive market, placing an offer on a home that is out of your range only wastes time and leads to disappointment.
  • Money isn't the only thing that makes an impression during a bidding war. Flexibility can go a long way towards having your offer selected. That flexibility can be shown by offering the buyers preferred move-out date or by the willingness to waive the small items that come up during an inspection.
  • While you may not be able to offer much more than the asking price of the home, using your cash creatively can help your bid win. This could be offering more earnest money than required or offering a larger down payment that necessary. Both of those items can be appealing to sellers.

While a bidding war is a dream for a seller, it can be a nightmare for the buyers involved. Winning a bidding war seems like a daunting task, but is actually something that is very possible when the buyers go in with all of the necessary information.

 

Creating a Functional Backyard

by Tom Stachler,ABR,CDPE - Group One Realty Team

Summer is here and with it comes children playing outside, backyard barbecues, and time spent enjoying the summer sun. Creating a functional backyard can be an easy process and is attainable on any budget. Use these tips to create the backyard of your dreams:

  • Adding a deck to a Home helps to extend the indoor living space and greatly adds to the outdoor appeal. In addition to helping to define the space, a deck provides a place for seating, dining, and entertaining. It is estimated that almost 88% of the cost of a deck is recouped when a home is sold.
  • Whether it is constructed from wood, bricks, or stone, a patio provides the perfect setting for outdoor gatherings. This budget-friendly backyard addition can be personalized with a fire ring, flowers, patio furniture, or a wide-variety of other items. Small patios help to create an intimate feel in a garden, while a larger area is ideal for entertaining.
  • Gardens are a great way to add personality and color to a space. Whether it is flowers or vegetables, a garden is something that provides beauty, enjoyment, and produce. Adding a water feature to the garden continues to enhance the space.
  • Adding a sunroom is the ultimate way to create a functional backyard space. A sunroom provides a comfortable way to enjoy the sights and sounds of nature while also containing a protective element during inclement weather. Sunrooms are noted as one of the top ten ways to add value to your home, and coming in at about half of the cost of a regular room, it is easy to see why sunrooms appeals to so many people.
Creating a functional backyard helps to define the outdoor spaces of your home, showcases your personal style, and adds value to your home. With outdoor living spaces being in high demand from home buyers, a little time improving your outdoor spaces could pay off.

Deck Railings - Annual Safety Check

by Tom Stachler,ABR,CDPE - Group One Realty Team

CHECK YOUR RAILINGS

If you took all the people who were injured last year in falls related to railings, they would fill a large stadium. The injury rate is highest among children.

WHAT 

Check your railings.

WHEN 

During the summer.

WHY 

Each year, roughly 40,000 people in North America are treated for injuries related to handrails, railings and banisters. Approximately 1,200 die from these injuries                                            

HOW

First, ensure that existing railings are well secured and not deteriorated. This requires a visual examination for rust or rot, followed by a low-tech approach -- grab the railing and shake it. Be careful you don't fling yourself off the porch or deck by breaking the railing. 

Secondly, make sure the railing will do what it's supposed to do -- keep people from falling off a deck or a porch and make it difficult for children to climb over or through the railing. 

Building codes vary from region to region and the intent of this reminder is not to ensure that your railings comply with local codes (most older railings do not). We will however, tell you what modern codes are trying to accomplish, and you can assess how far off the mark your railings are. 

Modern railings are usually 42 inches high if the deck or the porch is more than six feet off the ground. If the fall would be less than six feet, railing heights drop to 36 inches. On stairs leading up to decks or porches, railing heights are often 31 to 34 inches.

                                       

Modern railings have spindles spaced so that a ball with a four-inch diameter cannot be passed through the spindles. This is to ensure that toddlers cannot squeeze through or get their heads caught between the spindles. 

The design of the spindles should not create a "ladder effect." In other words, the railing should not have horizontal components that can be easily climbed by a child.

                                 

TIPS

Flower boxes, benches and the like should not be placed against railings or fastened to railings. They make it easier for kids to climb.

 

Please check out the other Links on this website including the property search links above.  Have a great summer!

 

tom, stachler, real estate, one, homes, for sale, property, saline, michigan, broker, recommended, information, deck, railings, health, safety, house

Ideas on Home Design - Adorn your home with Copper features

by Tom Stachler,ABR,CDPE - Group One Realty Team

Like the look or health benefits of copper and looking for some different Home decorating ideas?  See this project below for some inspiration.  

 
 
 
 
 
 
 
 
tom stachler, thomas stachler, ann arbor homes for sale, home decorating ideas, using copper in your home, ideas when working with copper, saline, michigan, real estate, broker, realtor,one, condo, for sale, property

April Real Estate Market Report for Ann Arbor and Saline Michigan

by Tom Stachler,ABR,CDPE - Group One Realty Team

Keeping track of the market and checking its pulse?  See below

 

Thanks for watching.  Give us a call for more information or if you are looking to sell or buy property.  Have a great day!

 

 

tom stachler selling property and homes in ann arbor michigan and saline michigan providing you with this market report for april 2014 thomas real estate for sale

Tom Stachler's Monthly Market Update for Ann Arbor Real Estate

by Tom Stachler, Real Estate One Ann Arbor

Dan's Monthly Broadcast Message shown below.  

Check the Links above for MLS access to the entire listing inventory that are for sale from every company and bank.  They all are included in this database.  Let us know if you would like to setup a showing appointment.  

Annual Ann Arbor Marathon Moved from June to March

by Tom Stachler,ABR,CDPE - Group One Realty Team

The third annual Ann Arbor Marathon will soon be underway. This year however, the marathon has moved from June to March, which means that participants should begin making plans to compete right now.

The inaugural race took place in 2012, when it was held on Father’s Day. As a result, a number of area residents and business owners had to contend with certain streets being blocked off so that the event could take place. As a result, Mayor John Hieftje noted that changes to the race’s schedule needed to take place so as not to inconvenience locals.

In 2013, the race was held on a different day in June, and also included a new route in order to minimize its impact on traffic flow. Although these changes were good, race organizers felt that a switch from June to March would better benefit both the city and participants. An email blast sent to race participants from previous years showed that most people agreed that a date in late March would work best for everyone concerned.

In addition to changing the date, a number of other changes will take place in 2014 as well. The route will once again change, with the finish being on South Main Street in downtown Ann Arbor between East Liberty and East William streets. The course also begins on Main Street at the northwest corner of the “Big House,” and will run partly through the University of Michigan campus as well as along the Huron River.

There will be one 13.1-mile route for half-marathon participants, and marathon runners will be required to complete two full loops of the same course. Organizers have planned a 5k and 1.2 mile race in addition to the marathon and half-marathon.

Registration for the event is already underway, and individuals can take advantage of discounted fees for the time being. Runners may obtain registration forms by visiting the marathon’s website. An early bird discount is available from now until February 28th, 2014. A portion of these registration fees is earmarked for distribution to the Ann Arbor Public Schools Educational Foundation.

The Ann Arbor Marathon is also a qualifier for the Boston Marathon. Since the annual Ann Arbor Marathon has moved from June to March, runners who would like to participate should sign up now in order to participate in this exciting event that’s coming up on March 30th, 2014.

January Market Update

by Tom Stachler,ABR,CDPE - Group One Realty Team

The rate of sales slowed in November as it has for the prior three months. It is still strong, but not as strong as this time last year. Inventories continue to fall as a result of an increasing number of listings that are expiring. New listings entering the market have been up for the past six months. Many of those are expired listings reentering the market, which are not enough to raise inventories. For buyers, there is still a significant shortage of available homes for sale with inventories remaining at 10-year lows. At the end of November, Southeast Michigan inventories dropped below 10,000 properties (this is compared to the peak of over 65,000 properties for sale in 2008). Values are up about 8% and new listings entering the market continue to rise. This shows that sellers are seeing some light at the end of the value tunnel and are putting their homes on the market at an increasing rate.

There are more than a few people predicting a flat to declining real estate year for 2014. Certainly with the possibility of tougher mortgage standards, rising interest rates, pent up demand having been released and a relatively flat economic growth, it is reasonable to predict a slow down. After all, we can’t expect to have record years every year (in terms of unit sales) and three years in a row is a pretty good run. We do think 2014 will not be as strong as 2013, but I am more optimistic than most, mainly because there is still quite a bit of Buying power left in the market. 

The housing affordability index is a good measure of that buying power. Historically, an index in the 120 range (the median family income can buy 120% of the median priced Home) is the good spot for a balanced and healthy housing market. In Michigan, we might move that range up to 140 since our values tend to be lower. We are still over 200 in Michigan, so there is still some buyer “slack” that will be capable of pushing up prices and creating multiple offers into 2014/15 (but not at the same pace as 2012/13). The chart below gives an example of what the index would look like given reasonable assumptions for the next few years.

If these assumptions hold, the market will settle to a balance around 2016. There is a positive wild card and that is household income. Income growth has been flat, which does not help home values. But as jobs grow and second income opportunities increase, this supercharges a household’s buying power. Although the median income may not be rising quickly, every job that creates a strong second income, also creates powerful homebuyers who can buy/outbid a significantly higher priced home.

A Short Spotlight on the City of Detroit: The city certainly suffered more than most in the downturn, but its rise has also led the way up. Since 2011, the median price has risen 89% and the average price 69%. Sales are still dominated by investors at the lower end of the market causing the median price to hover around $13,000. Looking behind those numbers we see some strong trends comparing 2013 to 2011. Sales of homes in excess of $40,000 have risen 20% and homes in excess of $100,000 have risen 61%. This shows that with more higher value sales, owners are moving in to replace investors. Midtown and Downtown have a housing shortage as well as key neighborhoods such as Rosedale, University, East English and many more.

As prices and interest rates rise, watch for some of the lower priced areas to heat up even more (Livonia, Redford, East Ferndale, Warren, Detroit, Taylor, Westland, etc.) as buyers move down in value, rather than leave the market altogether.

Thank you for your support in 2013. I look forward to working with you in 2014.

 

 

tom stachler, market, update, ann arbor, 2014, real estate, for sale, condos, homes, commercial, properties, listings, agent, broker, new, property, saline, michigan

 

Visit Santa at Briarwood Mall

by Tom Stachler,ABR,CDPE - Group One Realty Team

Santa is leaving the toy-making and Christmas-list reading to the elves in order to visit with the wee little ones who come to do their 2013 holiday shopping at Briarwood Mall. Jolly Old Saint Nick made his first appearance at the mall on Friday, Nov. 8th, and will be inviting kiddies to sit on his lap through Tuesday, Dec. 24th, during the following time periods:

  • 10:00 AM – 8:00 PM, Monday - Saturday
  • Noon – 6:00 PM, Sunday

Briarwood Mall

Briarwood Mall is located at 100 Briarwood Circle in Ann Arbor and features a number of popular retailers, some of which include Athleta, Soma, Vera Bradley, Brighton Collectibles, Michael Kors, L’Occitane, LUSH, White house Black Market and Yankee Candle.

While you have the children at the mall, be sure to stop into Elephant Ears, a locally owned shop that specializes in children's clothing and toys located near Von Maur, so you can surreptitiously find out what they would love to discover under the tree this Christmas. In addition to making this holiday season truly memorable, take the kids skating at Briarwood Winter Wonderland.

In October, Briarwood put the finishing touches on an extensive renovation project, which included remodeling of the entrances, new seating and charging stations, new way-finding signage, and a new play area, family restroom and guest services section in the Von Maur wing.

Turkey Trot 5K in Ann Arbor

by Tom Stachler,ABR,CDPE - Group One Realty Team

Thanksgiving Day is coming up faster than you can say, "More turkey, please!" But before you pull the turkey out of the oven and sit down for a delicious feast, come out to the 8th Annual Turkey Trot in Ann Arbor.

This fun holiday run will be a 5K distance, with the the starting point on the corner of East Liberty Street & South 5th Avenue. The race will be broken into two segments, with the first run dedicated to the little runners, ages 10 and younger, and the main event starting soon afterward. The Tot Trot will start at 8:00 AM, while the adult run will begin at 8:45 AM.

You are sure to have a fun time and get into the holiday spirit! There will be hot chocolate stations throughout the course, over 50 pies given away in a random drawing and there will be a contest for the Uglyiest Sweater. Be sure to bring your camera because Tom Turkey and Santa will be out and about and available for pictures with the kids!

Online registration for the Turkey Trot is available through 6:00 PM on Monday, November 25th. If you don't make the online registration deadline, you can still mail in your registration or go down to Running Fit in Downtown Ann Arbor on Wednesday, November 27th between 1:00 PM and 7:00 PM to register in person. Packet pick up will also be at Running Fit at this time as well.

The 8th Annual Turkey Trot is bound to be a fun holiday celebration for the whole family! Have a great Thanksgiving!

Displaying blog entries 231-240 of 279

Syndication

Categories

Archives