Windridge Place Subdivision, Novi, Michigan
Lastest Windridge Place Subdivision Neighborhood Update as of January 1, 2008
There are no homes currently for sale in the sub. The average list price is $N/A and on the average has been on the market for N/A days
IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855
Here are all the homes that have sold in Windridge Place, Novi, MI in the last year as of 1/1/2008
Price Address Bed Sold Date
$525,000 45920 ASHFORD CIR 4 10/30/2007
1 home has sold in the last year with an average price of $525,000after being on the market an average of 53 days.Remember when you price your home right it will not sit on the market as long. So if you have to move call me for the latest market analysis of your Oakland County subdivision.
If you want other Novi subdivsion updates or city of Novi information or Novi real estate go to my website http://www.russravary.com/ You can get buyers tips, sellers tips, or search Michigan homes for sale for free without giving any personal contact info or logging in! Have a great day. Russ Ravary
Sunday, January 6, 2008
Saturday, January 5, 2008
Novi Subdivisions, Wintergreen Park, Mi neighborhood update
Lastest Wintergreen Park Subdivision Neighborhood Update as of January 1, 2008
There are 3 homes currently for sale in the sub. The average list price is $501,300 and on the average has been on the market for 150 days
$479,000
23568 WINTERGREEN CIR
4 bed
$499,900
23805 WINTERGREEN CIR
4 bed
$525,000
23705 WINTERGREEN
4 bed
IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855
Here are all the homes that have sold in Wintergreen Park, Novi, MI in the last year as of 1/1/2008
Price Address Bed Date Sold
$435,000 23640 WINTERGREEN CIR 4 7/5/2007
1 home has sold in the last year with an average price of $435,000 after being on the market an average of 53 days.Remember when you price your home right it will not sit on the market as long. So if you have to move call me for the latest market analysis of your Oakland County subdivision.
If you want other Novi subdivsion updates or city of Novi information go to my website http://www.russravary.com/ You can get buyers tips, sellers tips, or search Michigan homes for sale for free without giving any personal contact info or logging in!
There are 3 homes currently for sale in the sub. The average list price is $501,300 and on the average has been on the market for 150 days
$479,000
23568 WINTERGREEN CIR
4 bed
$499,900
23805 WINTERGREEN CIR
4 bed
$525,000
23705 WINTERGREEN
4 bed
IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855
Here are all the homes that have sold in Wintergreen Park, Novi, MI in the last year as of 1/1/2008
Price Address Bed Date Sold
$435,000 23640 WINTERGREEN CIR 4 7/5/2007
1 home has sold in the last year with an average price of $435,000 after being on the market an average of 53 days.Remember when you price your home right it will not sit on the market as long. So if you have to move call me for the latest market analysis of your Oakland County subdivision.
If you want other Novi subdivsion updates or city of Novi information go to my website http://www.russravary.com/ You can get buyers tips, sellers tips, or search Michigan homes for sale for free without giving any personal contact info or logging in!
Friday, January 4, 2008
Yerkes Manor Estates, Novi, Mi neighborhood update
Last Yerkes Subdivision Neighborhood Update as of January 1, 2008
There are 1 home currently for sale in the sub and one for lease. The average list price is $349,000 and on the average has been on the market for 293 days
For Lease $2,400 20828 VERANDA DR 4 bedrooms
For Sale $349,000 20804 VERANDA DR 4 bedrooms
IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855
Here are all the homes that have sold in Yerkes Manor Estates, Novi, MI in the last year as of 1/1/2008
Price Address Bedrooms Sold or Leased as of
Leased $2,200 20899 VERANDA DR 4 6/22/2007
SOLD $328,000 20852 VERANDA DR 4 8/16/2007
SOLD $435,000 20755 EMILY CT 5 10/8/2007
3 homes have sold in the last year with an average price of $381,500 after being on the market an average of 72 days.Remember when you price your home right it will not sit on the market as long. So if you have to move call me for the latest market analysis of your Oakland County subdivision.
For more Novi Subdivision updates or City of Novi info go to my website www.russravary.com Or if you are searching for a Novi home search thousands of listings free on my website.
There are 1 home currently for sale in the sub and one for lease. The average list price is $349,000 and on the average has been on the market for 293 days
For Lease $2,400 20828 VERANDA DR 4 bedrooms
For Sale $349,000 20804 VERANDA DR 4 bedrooms
IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855
Here are all the homes that have sold in Yerkes Manor Estates, Novi, MI in the last year as of 1/1/2008
Price Address Bedrooms Sold or Leased as of
Leased $2,200 20899 VERANDA DR 4 6/22/2007
SOLD $328,000 20852 VERANDA DR 4 8/16/2007
SOLD $435,000 20755 EMILY CT 5 10/8/2007
3 homes have sold in the last year with an average price of $381,500 after being on the market an average of 72 days.Remember when you price your home right it will not sit on the market as long. So if you have to move call me for the latest market analysis of your Oakland County subdivision.
For more Novi Subdivision updates or City of Novi info go to my website www.russravary.com Or if you are searching for a Novi home search thousands of listings free on my website.
Wednesday, January 2, 2008
Buying a home to keep
Buying a home to keep (edit/delete)
Over the years I have had people come to me and buy homes that I know that can't afford. I have asked them if they were sure they wanted to spend that kind of money.
There are many issues with this problem. If you as a buyer had a Realtor or mortgage person tell you that they think you are over buying... would you listen? As a Realtor many clients don't take our advice. Many people buy with emotion. We see over and over people buy homes we would never buy. And that is the point. We the Realtor are not going to live there you are. It is your choice to make, it's not our choice. We can subtly tell you that we think it is a bad idea. I can't tell you how many times clients have not listened to my advice. Many do listen, but there are many that never hear.
Buyers and sellers have what they want in their head and most times we can't sway them. Shoot... their parents can't tell them, their spouse can't change their mind. Do you think what we say, sways them?
But it is more important than ever to this generation of buyers, 2008 buyers, that they step back and figure out what they can afford to pay a month before they see a mortgage person or a real estate person. Better yet. If their house payment with taxes and insurance is going to be $2000 and they are paying $1000 a month in rent. Then they should try to live 6 -12 months putting the extra $1000 away. And not spending it for anything. That way they can find out if they can live comfortably with a $2000 payment. Plus they would have a nice down-payment or rainy day fund.
If you need more mortgage information or Michigan real estate information go to my website www.russravary.com You can search thousand of Michigan Houses for sale free on my site without giving your name or any personal information.
Over the years I have had people come to me and buy homes that I know that can't afford. I have asked them if they were sure they wanted to spend that kind of money.
There are many issues with this problem. If you as a buyer had a Realtor or mortgage person tell you that they think you are over buying... would you listen? As a Realtor many clients don't take our advice. Many people buy with emotion. We see over and over people buy homes we would never buy. And that is the point. We the Realtor are not going to live there you are. It is your choice to make, it's not our choice. We can subtly tell you that we think it is a bad idea. I can't tell you how many times clients have not listened to my advice. Many do listen, but there are many that never hear.
Buyers and sellers have what they want in their head and most times we can't sway them. Shoot... their parents can't tell them, their spouse can't change their mind. Do you think what we say, sways them?
But it is more important than ever to this generation of buyers, 2008 buyers, that they step back and figure out what they can afford to pay a month before they see a mortgage person or a real estate person. Better yet. If their house payment with taxes and insurance is going to be $2000 and they are paying $1000 a month in rent. Then they should try to live 6 -12 months putting the extra $1000 away. And not spending it for anything. That way they can find out if they can live comfortably with a $2000 payment. Plus they would have a nice down-payment or rainy day fund.
If you need more mortgage information or Michigan real estate information go to my website www.russravary.com You can search thousand of Michigan Houses for sale free on my site without giving your name or any personal information.
Tuesday, January 1, 2008
My 2008 real estate predictions
My Metro Detroit area real estate predictions (edit/delete)
Unfortunately the outlook for Southeastern Michigan real estateis not the rosiest. Because of the high unemployment, the poor economy, people leaving the state, the high foreclosures, and the banks tightening the credit guidelines HOME PRICES WILL CONTINUE TO FALL IN 2008. There are too many empty homes, too many bank foreclosures that have not been sold, and no sign of economic turnaround. The banks are going to continue to dump houses at lower prices in order to unload them which will lead to lower comparables in subdivisions. Buyers are going to continue to seek out the best home for the best price, and best value. With so many foreclosures they expect the same prices from homeowners as they do from bank foreclosed homes. So for sellers it is not rosy, but for buyers it is one of the greatest times to buy.
For buyers Here are 3 great reasons to buy this year.
1)Interest rates are still in the low 6% - 7% range depending on the day. You can still get a low payment on a home and you can buy more home than you could 3 years ago. As a buyer before you see a mortgage person or a Realtor you need to sit down and figure out how much you can afford. What kind of monthly payment can you pay for a house without getting yourself in trouble. Then ask the mortgage person what price house that payment can buy. Be sure to include taxes and insurance. Then once you get that number from the mortgage person talk to a Realtor and see what kind of home that price will buy. Don't let the Realtor or the mortgage person leave out the taxes or insurance. It is a cost that you have to pay. Stay within your budget so you can keep your house. For more mortgage information go to www.russravary.com
2)There are many available home choices as there is a large inventory. Homes that are updated and priced well are still moving quicker than other homes. But many homes are sitting on the market over 60 days. Get house hunting tips, negotiating tips, and buyers tips and advice on my website on the buyers button.
3)Wayne County real estate, Oakland County real estate, and Livingston county real estate have fallen in value in the last 3 years. Many home values have fallen between 20 - 35%. What that means to you is that you can buy more home than your could have in the last 3 years. Some of the home prices are back to 1990's.
So my advice to potential sellers is don't sell unless you have to, ie... relocation, divorce, death, retirement, or moving up to a larger house. Move if there is a life changing event. If you are just testing the market or want to price it high don't waste your time. Wait to sell. But remember that many economists are predicting that it will take up to 10 years to get back to the prices we had 3 years ago. For more great selling info, articles, sellers tips go to www.russravary.com and click on the selling button
Unfortunately the outlook for Southeastern Michigan real estateis not the rosiest. Because of the high unemployment, the poor economy, people leaving the state, the high foreclosures, and the banks tightening the credit guidelines HOME PRICES WILL CONTINUE TO FALL IN 2008. There are too many empty homes, too many bank foreclosures that have not been sold, and no sign of economic turnaround. The banks are going to continue to dump houses at lower prices in order to unload them which will lead to lower comparables in subdivisions. Buyers are going to continue to seek out the best home for the best price, and best value. With so many foreclosures they expect the same prices from homeowners as they do from bank foreclosed homes. So for sellers it is not rosy, but for buyers it is one of the greatest times to buy.
For buyers Here are 3 great reasons to buy this year.
1)Interest rates are still in the low 6% - 7% range depending on the day. You can still get a low payment on a home and you can buy more home than you could 3 years ago. As a buyer before you see a mortgage person or a Realtor you need to sit down and figure out how much you can afford. What kind of monthly payment can you pay for a house without getting yourself in trouble. Then ask the mortgage person what price house that payment can buy. Be sure to include taxes and insurance. Then once you get that number from the mortgage person talk to a Realtor and see what kind of home that price will buy. Don't let the Realtor or the mortgage person leave out the taxes or insurance. It is a cost that you have to pay. Stay within your budget so you can keep your house. For more mortgage information go to www.russravary.com
2)There are many available home choices as there is a large inventory. Homes that are updated and priced well are still moving quicker than other homes. But many homes are sitting on the market over 60 days. Get house hunting tips, negotiating tips, and buyers tips and advice on my website on the buyers button.
3)Wayne County real estate, Oakland County real estate, and Livingston county real estate have fallen in value in the last 3 years. Many home values have fallen between 20 - 35%. What that means to you is that you can buy more home than your could have in the last 3 years. Some of the home prices are back to 1990's.
So my advice to potential sellers is don't sell unless you have to, ie... relocation, divorce, death, retirement, or moving up to a larger house. Move if there is a life changing event. If you are just testing the market or want to price it high don't waste your time. Wait to sell. But remember that many economists are predicting that it will take up to 10 years to get back to the prices we had 3 years ago. For more great selling info, articles, sellers tips go to www.russravary.com and click on the selling button
Sunday, December 30, 2007
What will the New Year bring
I sometimes wonder what will the New Year bring? As a Realtor my income is never certain. Varying from month to month and sometimes dependent on the economy.
But one thing I know is that if you talk doom and gloom and do nothing, then you will get doom and gloom. Sure the economy is bad in Metro Detroit. But Metro Detroit Real estate is still selling. It is definitely selling slower and for less money, but people are still buying and still selling.
The trick is to get your piece of the pie. You have to shift focus, shift gears, work harder to make the same amount of money. You need to continue making the client happy, getting them what they want, when they want it, at that low price. It's harder. But it is easier that just talking doom and gloom and not getting it done.
I believe the same applies to all industries and jobs in Metro Detroit. You have to think differently, do things and jobs that you don't normally do to get the job done. We can roll over and quit. We may have to start over in a different field, or do two jobs. You can just complain how bad it is, or you can look at it and try to make money somehow.
Call your friends and tell them you need work. Work later or on the weekend. Take that lousy low paying job. The bottom line is that you and I need to survive through this economy. It can be done. People made it through the depression. We can do it now. By networking, cutting back, working smarter and harder we can make it a great year. A year that may be hard but a year that we enjoyed time with friends and family.
Remember that is why we work. To improve our quality of life. To enjoy it with family and friends. May next year be a safe, healthy, and prosperous year for you and your family.
Russ Ravary
For more real estate and mortage information for Southeastern Michigan go to www.russravary.com
But one thing I know is that if you talk doom and gloom and do nothing, then you will get doom and gloom. Sure the economy is bad in Metro Detroit. But Metro Detroit Real estate is still selling. It is definitely selling slower and for less money, but people are still buying and still selling.
The trick is to get your piece of the pie. You have to shift focus, shift gears, work harder to make the same amount of money. You need to continue making the client happy, getting them what they want, when they want it, at that low price. It's harder. But it is easier that just talking doom and gloom and not getting it done.
I believe the same applies to all industries and jobs in Metro Detroit. You have to think differently, do things and jobs that you don't normally do to get the job done. We can roll over and quit. We may have to start over in a different field, or do two jobs. You can just complain how bad it is, or you can look at it and try to make money somehow.
Call your friends and tell them you need work. Work later or on the weekend. Take that lousy low paying job. The bottom line is that you and I need to survive through this economy. It can be done. People made it through the depression. We can do it now. By networking, cutting back, working smarter and harder we can make it a great year. A year that may be hard but a year that we enjoyed time with friends and family.
Remember that is why we work. To improve our quality of life. To enjoy it with family and friends. May next year be a safe, healthy, and prosperous year for you and your family.
Russ Ravary
For more real estate and mortage information for Southeastern Michigan go to www.russravary.com
Thursday, December 27, 2007
Buying foreclosures
Buying REO or bank owned properties in Detroit I read an article on active rain yesterday from an agent that specialized in bank owned properties. His basic attitude was don't submit a low offer and don't put down why you put in a low offer because of the problems with the house. He stated he knew what was wrong with the house.
Unfortunately I think banks are disconnected with how bad some properties are and if that is not included in the offer then they (the bank) have no clue. As the agent said the banks are making a decision strictly on the numbers. It is OK some of the time to make the decision on the numbers. But in Detroit's market the banks are realizing they can't do that. If the bank owned property is in substandard shape then a buyer should be making a low ball offer.
I'm sure I am going to ruffle some feathers here. I know as a real estate agent some agents would rather get and work on an offer that is close to the list price. There is a small percentage of agents that would rather just buy or sell without getting the best possible deal for their client. That small percentage of agents want to just make the sale! Less negotiation, less trouble, quicker money in their pocket. But in the Detroit market the prices are continuing to fall. You are not acting in the best interest of your buyer if you are not putting in a 10 - 15% below list price, if your client is shopping for a deal. It doesn't matter what the comps are now. By summer the price is going to be lower because of the the bank owned properties. The banks have to move the inventory. So they have to lower the price. We do not have enough qualified buyers in Metro Detroit to support the market. But if your client has to have the house, and no other house will do then a low ball offer is not the best tactic. Put in a lower offer that will still clinch the deal and hopefully will be lower than the most recent sold comps.
I have seen sold deals where the bank listed price was $71,000 and sold for the low $40's. Another 2 were listed in the $40's and sold for $5,000. Some banks have sent out emails to the REO's that they were more willing to accept those offers because they had to move the inventory.
The bottom line in Wayne County Real Estate, Livingston County Real Estate, Oakland County Real estate, and Metro Detroit Real Estate is that low offers are being accepted. I agree not all the time and I agree that it would be easier to submit an offer closer to the list price to get the deal done. But as agents we are supposed to be acting in the best interest of our buyers. Sure I can't 100% for sure predict that home prices are going to continue to drop this year in the Metro Detroit market. But I would bet money on it, so if I think that I need to go against common practices and put those low ball offers in.
If you want to Search Michigan Homes for sale or want more information on Metro Detroit real estate go to my website www.russravary.com
Unfortunately I think banks are disconnected with how bad some properties are and if that is not included in the offer then they (the bank) have no clue. As the agent said the banks are making a decision strictly on the numbers. It is OK some of the time to make the decision on the numbers. But in Detroit's market the banks are realizing they can't do that. If the bank owned property is in substandard shape then a buyer should be making a low ball offer.
I'm sure I am going to ruffle some feathers here. I know as a real estate agent some agents would rather get and work on an offer that is close to the list price. There is a small percentage of agents that would rather just buy or sell without getting the best possible deal for their client. That small percentage of agents want to just make the sale! Less negotiation, less trouble, quicker money in their pocket. But in the Detroit market the prices are continuing to fall. You are not acting in the best interest of your buyer if you are not putting in a 10 - 15% below list price, if your client is shopping for a deal. It doesn't matter what the comps are now. By summer the price is going to be lower because of the the bank owned properties. The banks have to move the inventory. So they have to lower the price. We do not have enough qualified buyers in Metro Detroit to support the market. But if your client has to have the house, and no other house will do then a low ball offer is not the best tactic. Put in a lower offer that will still clinch the deal and hopefully will be lower than the most recent sold comps.
I have seen sold deals where the bank listed price was $71,000 and sold for the low $40's. Another 2 were listed in the $40's and sold for $5,000. Some banks have sent out emails to the REO's that they were more willing to accept those offers because they had to move the inventory.
The bottom line in Wayne County Real Estate, Livingston County Real Estate, Oakland County Real estate, and Metro Detroit Real Estate is that low offers are being accepted. I agree not all the time and I agree that it would be easier to submit an offer closer to the list price to get the deal done. But as agents we are supposed to be acting in the best interest of our buyers. Sure I can't 100% for sure predict that home prices are going to continue to drop this year in the Metro Detroit market. But I would bet money on it, so if I think that I need to go against common practices and put those low ball offers in.
If you want to Search Michigan Homes for sale or want more information on Metro Detroit real estate go to my website www.russravary.com
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