Aside from the patriotic American flags that residents proudly display on power polls lining the block between Lincoln and Woodward, there seems to be a building boom underway on Pleasant. Today I counted three new homes going up, two more with construction fencing and a 6th sporting the signs of Kevin Hart, a prominent local architect, indications that a major renovation could be in the works.

Why Pleasant? The primary reason is it offers some of Birmingham’s largest lots. Many are over an acre, allowing homes up to 8,000 square feet to still have sizable yards to enjoy. We’ve seen skating rinks out front, pools in the back, lovely covered porches and even a putting green gracing yards on Pleasant Street.

Turkia Mullin’s sister recently sold this beautiful home on Pleasant.

The return of the builders to Birmingham certainly is not limited to Pleasant Street. It is exciting to see new homes going up in Quarton Lake Estates, Little San Francisco and in town, as builders and buyers have restored confidence in the housing market that is underscored by all that Birmingham has to offer.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Also improving was average days on market, with a decline from 116 in 2010 to 103 in 2011.

Average price per square foot increased from $99.89 to $108.46.

The most expensive transaction in the Village of Beverly Hills in 2011 was at $505,000, and that is the only statistic that fell short of 2010 numbers, when the most expensive home sold transacted at $565,000.

From many agents and buyers’ perspectives there was actually a shortage of inventory on the market in 2011, which helped to push up prices. We see this trend continuing into 2012.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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2011 has been a better year for residential real estate sales in Beverly Hills than 2010.  We’ve seen increasing prices and a shorter market times. The average sold price has risen 6.6%, from $195,500 to $208,000.  Average Days on Market has fallen from 100 days to 96.  The number of sales in the first half of both years was almost unchanged at 89/90, but in our opinion, this is primarily because there is an overall shortage of inventory this year.  There are buyers out there right now who simply are not able to find a house they want. 

Prices would rise faster if appraisals could keep up.  So far this year, the highest closed sale in Beverly Hills was 19070 Bedford, a lovely 3 bedroom colonial that our office had listed.  The buyer paid $490,000 for the wonderfully updated 3,000 square foot home.

We’ve compiled a free report with all of the single family home sales in the Village of Beverly Hills, MI in the first half of 2011 that is available for download. 

If you are considering a move to or from Beverly Hills, we would be delighted to help you.

The chart below is for all of area code 48025, so it encompasses, Beverly Hills, Franklin and Bingham Farms. It illustrates our contention that prices are on the rise and inventory has fallen.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Search for homes in Oakland County

Listings decreased in both counties (by 15 percent in Oakland and 6 percent in Macomb), but while Oakland posted a sales volume increase of 45 percent, Macomb’s sales volume dipped 4 percent.

The following Oakland County municipalities* experienced the largest year-to-year (February 2009 to February 2010) increases in sales:

• Royal Oak, up 119 percent; sales volume increased 135 percent to $8 million, from $3.4 million
• Bloomfield Twp., up 95 percent; sales volume increased 128 percent to $11.4 million, from $5 million
• Independence Twp., up 94 percent; sales volume increased 154 percent to $6.3 million, from $2.5 million

Oakland municipalities that experienced a sales decrease included Hazel Park (down 18 percent), Pontiac (down 17 percent) and Southfield (down 13 percent).

Information on all municipalities can be obtained here.

Republished from Metropolitan Consolidated Association of Realtors

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Selling Your House in a Down Real Estate Market

Tip #2?  Stage it! Condition and presentation still matter, even if the listing price is low.  “Price gets you interest, Staging gets you offers.”  Mr. Keller is a wise man!

No one that I have spoken to, however, agrees with Tip #5 which is “Be there.  No one can answer questions about the schools and neighborhood like the seller.”    Most feel that having homeowners present makes for an uncomfortable visit.

Written by Marianne Sweet
Home Sweet Home Staging, (586) 212-8400
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Take it away Cindy …

“There is so much information on home staging, that home sellers are on overload.  With advice coming from all kinds of sources and areas of the country.  Yes, it is confusing, where do you start?   If you watch tv, you may get the impression you can have your home staged for under $2000.  Or another show may stage a home for around $20,000.   Big difference!   Another show has strangers coming to your house picking it apart, to the point that you’re thinking, no way am I going to let someone do that to my home.  You can read articles or books on the internet from people that may be experts or just people with an opinion.  You can also read a book on ”How to Cut Hair”, but would you actually trust yourself to cut your hair or someone else’s?  I wouldn’t!  So, where do you start?  Sure, you have questions … who wouldn’t?

Here are a few questions home sellers have when thinking about staging their homes.

1) How much does it cost? Reasonable question … as a matter of fact it’s the #1 question.  It’s the big mystery.  This is why.  I wish I could say every home stager could give you a standard answer, but we can’t.  Every stager should be their own business entity, and provide different services.  Some charge an hourly rate, by the square foot, per room, a percentage of the list price or a flat fee.  As every property is different, we really need to see the home to assess it and give you a solid number.  Some stagers can estimate it, but shouldn’t be held to that number until the property is viewed.  There are too many variables that go into it. Is is vacant? Do furniture and accessories need to be brought in?  Or is it occupied, and you just need a redesign of existing furnishings? These are just a couple of examples.

2) Who pays for the staging? The 2nd most popular question.  The home seller is ultimately responsible for staging services.

3) Why doesn’t my Realtor pay for home staging, they are making the commission? Again, ultimately a homeowner is responsible for staging costs.  Some, but not all real estate agents will pay for a Home Staging Consultation, as a value-added service, but the actual costs associated with staging (furniture rental, actual hands-on staging) is paid for by the home seller.  It is not the responsibility of a real estate agent to pay for home staging costs.

4) Can I pay at closing? This is up to the stager.  Most, do not do this as we do not know if a property will be on the market for 1 day or 3 months.  Again, we all do it a little differently, some ask for 1/2 upfront, and some charge a monthly fee.

5) What do you do? Again, each home stager is their own entity.  Some offer redesigns only, some offer accessories only, and some offer furniture and accessories.  Some don’t have the inventory to do a vacant home so they will have to use a third party source, and some use their own inventory.  Different services can be offered, such as paint color consultations, personal shopping, organizing, curb appeal, recommendations on cost-effective cosmetic changes such as flooring, counters, lights, fixtures, etc.  The ultimate goal is to help a seller get their home sold faster and in the most cost effective manner.

6) How long does it take? It depends on how much you want done and to what extent.  It can take a few hours or a few days, or maybe longer if there are some cosmetic changes that need to be taken care of.

7) When should I have my home staged? As soon as you decide to sell.  Call a professional home stager and get a Home Staging Consultation.  Once necessary recommendations are completed from your stager’s list, your house is ready to be listed.  Don’t make the mistake of putting up that “For Sale” sign in the front yard before your home is ready.  The first 20 days a home is listed will be when it will get the most interest and traffic.  Make sure your house is show ready.”

Written by Marianne Sweet
Home Sweet Home Staging, (586) 212-8400
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While Mr. Nash makes some very valid observations, I must take issue with a few points that he makes, namely #5 on the “Out” list.

Mr. Nash states that home staging, “an over-used low cost marketing band-aid for vacant or occupied homes” is out. The only thing I agree with in that statement is “low cost”, which is certainly true compared to a price reduction. He goes on to say “Buyers have said enough of the non-professional usage of assorted leftover props placed around a for-sale home to make it supposedly homey. Buyers say, market it as it is and clear out the tired silk flowers and stale potpourri.” I will agree that there are less-than-fabulous attempts at staging out there, but professional home staging is proven to reduce DOM. Can any marketing tool that works truly be “out”?

Another point that frightens me in this article is the notion that “Obama-era paint colors” will be in vogue. Trust me, the “bright optimistic blues and radiant golds” that are mentioned will not help sell a house. Neutral is “in”, no matter who resides in the White House.

2009 should prove to be an interesting year for real estate, and many predictions in this article may be on-point. Let the professionals in your particular market advise you, as they know the real “ins and outs”.

Written by Marianne Sweet
Home Sweet Home Staging, (586) 212-8400
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A few big banks agreed to stop foreclosing until after the new year, so the January numbers could bounce significantly, especially with all of the recent layoffs across the country.

Chart from Realtytrac.com

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Would you be surprised to know that a house in Metro Detroit sold for nearly $10,000,000 this summer?  That’s a whole lotta cash, by just about anyone’s standards.  According to information from Realcomp II, 21000 Turnberry Lane in Novi, sold for $9,800,000 in August.  It wasn’t even officially on the market when it sold.

The Metro Detroit area had a total of 6 sales so far in 2008 that had listing prices over $4,000,000 when they sold.  I noticed that SKBK Sotheby’s was involved in half of those sales, something not approached by any other brokerage.  Our presence in the high end is very firmly established.

The most expensive house on the market today is 730 Vaughan Road in Bloomfield Hills.  I have written about the house before. When we last checked in on it in March 2008, the price was at $9,900,000. Today it is at $8,690,000.

I find it interesting to note that there were twice as many homes sold in 2008 over $4m as there were in 2007.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Home sales again increased in both Oakland and Macomb counties compared to figures from last year. In Oakland, sales rose 23 percent; in Macomb, they rose 26 percent.

Affordability helped make Southfield Oakland’s top-selling municipality: the median sale price there was $56,000, boosting the year-to-year increase 75 percent.

Other Oakland municipalities with 15 or more sales that experienced year-to-year increases in October sales included:

* Commerce Township, up 46 percent
* Bloomfield Township, up 44 percent
* Pontiac, up 43 percent

Macomb’s Eastpointe also benefited from affordable housing, with a median sale price of $45,000 that undoubtedly helped spur a 97 percent increase in sales, year-to-year.

Other Macomb municipalities with 10 or more sales that experienced year-to-year increases in October sales included:

* Roseville, up 46 percent
* Macomb Township, up 40 percent
* Sterling Heights, up 31 percent

You can get the Oakland County October Sales numbers here.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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I decided to create a pdf file so that readers could take a look at these sales themselves. Statistics about Birmingham home prices are always skewed by the high number of $1 sales, deeds that are recorded without the actual sales price. So far this year, I counted 48 $1 sales. So basically over 20% of the home sales data is incorrect or hidden.

Unfortunately, this leads to huge distortions in the statistics we receive from our MLS and our board of Realtors. These statistics are most skewed for Birmingham and Bloomfield Hills, where the practice is most common. The numbers are consistently skewed, so we continue to use them as we have nothing better to offer.

This PDF contains clean data about Birmingham MI home sales.

Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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