Posted in Best Time to Sell, Buying Homes, Real Estate Bay Midland Saginaw, Selling Homes

Best Time to Sell? Is it too late?

Spring, Spring, Spring!!! That’s what people think about when you mention the best time to sell real estate. Is it true? If you’re thinking about putting your home on the market, should you wait til spring? Well, my response to people in the past has always been that if April is the month with the highest number of closings, then people are obviously looking in February and putting offers in during March in order to close in April or May. I’ve looked at our Mid-Michigan stats before, but I thought recently that I’d study them a bit closer in regard to when people are most likely to buy. The truth is – it’s not Spring! At least not here in the Great Lakes Bay Region.

According to the closing stats, each of our three counties vary slightly. Midland County has a highest number of closings in June, with May & August tied in second and September coming in slightly after them. Saginaw County #1 closing month is August, with June being second and September & May being tied for third.  Bay county is almost the same as Saginaw, with August being 1st, May being 2nd and June & September tie for 3rd.

The biggest margin between the 1st and 4th most popular month is only 9 sales. So, in reality there are several great months to sell. Tis true that January is markedly the slowest month in all three counties, but things still sell. So what would my advice be to sellers? Get it on the market now! You can’t sell a house that’s not on the market. Your biggest asset is going to be your agent and their marketing plan, not the month. And for buyers, go on out and keep looking. Inventory is good. Been listing like hotcakes. Truth is; whenever you’re ready to buy or sell – that’s the BEST time to do it!

Remember, if you’d like a free market analysis I’m only a call/text/email away. And if you’re ready to find your next perfect home – same applies to you! 🙂 I would love to assist you.

Until next week – Monique, Your Real Estate Matchmaker; Connecting buyers and sellers for a perfect match.

Posted in bay city, midland, real estate, saginaw

Answering My Biggest Question: How’s the market??

It never fails when I meet someone new, the word Realtor pops up, the same question pops out! “How’s the market?” Everyone seems to want to know – whether they’re 25 or 75 the real estate market has an impact on their lives. Maybe they’re thinking of buying, or most likely they want to know if they have positive equity in their home and what it might be. I remember reading an article a few years back that stated some staggering statistic that 85% of people between the ages of 30-55 who’d bought a home in the last ten years were upside down in their mortgage. That’s pretty crazy! So I guess the How’s the Market question is pretty important. Let’s see what my experience and statistics are saying about the Mid-Michigan Area.

Mid-Michigan is made up of three counties, and they vary pretty drastically so I’ll address them separately. Saginaw County is where I reside, but I’m a member of all three area boards.  Of Bay, Midland, and Saginaw, we definitely hold the reputation for the lowest priced homes here in Saginaw. You can find all kinds of properties in the City limits for under $20,000; 127 to be exact. But what did surprise me is that statistically, Saginaw’s mean average has recovered a lot more than Bay County since the crash in home values back in 2008-2009. The average Saginaw County home back in 2005 was $107,073 and it fell to an average low in 2008 of just $64,143- a 40% drop. Keep in mind, that is an average for the county, which holds some “shining stars” as far as real estate prices are concerned, like Frankenmuth and Freeland. The average in the city of Saginaw at that time was around $13,000! The good news is that after the initial two years of prices in the depths of despair, we are crawling up and out! We rounded out 2014 with an average sales price of $91,985. That’s some good progress. The question is not just about sales price however, but about number of transactions. The last two years, 2013-2014 showed less homes sold than did 2012. So, we are finding that transaction #’s are down slightly, but sales volume is up. This is great news for people who are waiting to sell their home. Just in case you’re wondering the best months to sell in Saginaw are April-August, with August actually being number one in transactions – which busts the bubble of believers who think spring is the only good time in real estate. That means it is time to get your home on the market.

Statistics aside, I can tell you this: I have sold more real estate in the 1st quarter 2015 than I did annually 2009-2012! Granted I’ve been really working to grow my business, but I’m hearing it from lots of agents; “I’m crazy busy! The phones are ringing!”. I am excited to see what our stats show for 1st quarter when they come out next week.  Reality is, things are selling and prices are slowly rising, and our inventory is low. Good, nice, clean homes of all price ranges are in short supply. It’s a great time to sell and it’s a great time to buy. Interest rates are low, there are a lot of lending options, and I know of a really great agent who’s looking for both buyers and sellers!

I’ll share soon about Midland and Bay Counties. If you would like more specific market information for your location, please don’t hesitate to let me know. I have breakdowns for every township – some rebounding swiftly, others a bit more slowly. Regardless of where you’re at though, if you’ve a home to sell; it can be sold using great marketing and implementing tips about what’s most important to buyers.

Have a great day! (Despite the crazy snow we can’t seem to shake even toward the end of April!)