Market Analysis Homes Sold in Beverly Hills MI October 2010 October 2010 median sale prices decreased 19% from September 2010 & # of homes sold stayed the same. Private owned median prices decreased 18% in October 2010 from September 2010 & # of homes decreased 14%. Bank owned homes median price increased 15% in October 2010 from September 2010 and  # of homes sold increased 67% in October 2010 from September 2010.  October 2010 median sale price decreased 10% from October 2009 with a 17% decrease in # homes sold in October 2010. Year ending October 2010 median sale price compared to yr ending October 2009 decreased 03%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold October 2010 81 listings: 15 Sold listings: Average List Price $2... 11/18/2010

Market Analysis Homes Sold in Beverly Hills MI September 2010 September 2010 median sale prices increased 01% from August 2010 & # of homes sold increased 73%. Private owned median prices decreased 02% in September 2010 from August 2010 & # of homes increased 79%. Bank owned homes median price increased 48% in September 2010 from August 2010 and  # of homes sold remained the same September 2010 from August 2010.  September 2010 median sale price remained relatively the same compared to September 2009 with a 20% increase in # homes sold in September 2010. Year ending September 2010 median sale price compared to yr ending September 2009 increased 01%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Sold September 2010 94 listings:   15 S... 10/19/2010

  Market Analysis Homes Sold in Beverly Hills MI August 2010 August 2010 median sale prices increased 16% from July 2010 & # of homes sold decreased 76%. Private owned median prices increased 20% in August 2010 from July 2010 & # of homes decreased 79%. Bank owned homes median price decreased 64% in August 2010 from July 2010 and  # of homes sold decreased 67% in August 2010 from July 2010.  August 2010 median sale price increased 14% from August 2009 with a 78% decrease in # homes sold in August 2010. Year ending August 2010 median sale price compared to yr ending August 2009 decreased 02%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Sold August 2010 83 listings:   4 Sold listings:   Average List Price $256,201 Average Sold Price ... 10/19/2010

  Market Analysis Homes Sold in Beverly Hills MI July 2010 July 2010 median sale prices stayed relatively the same from June 2010 & # of homes sold were the same. Private owned median prices decreased 07% in July 2010 from June 2010 & # of homes increased 07%. Bank owned homes median price increased 30% in July 2010 from June 2010 and  # of homes sold increased 25% in July 2010 from June 2010. July 2010 median sale price decreased 20% from July 2009 and # homes sold stayed the same in July 2010. Year ending July 2010 median sale price compared to yr ending July 2009 decreased 03%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Sold July 2010 96 listings:   17 Sold listings:   Average List Price $247,814 Average Sold Price $188,776 Med... 10/19/2010

Don't be fooled, you are judged on your credit report and score.  Your credit is a heavily weighed factor when buying a car, renting a home, getting a job, applying for a loan, determining the cost of insurance and much more.  Sadly, most people don't realize the importance of their credit until after foreclosure.  Foreclosure is one of, if not the biggest bombshell on your score.  Alex Charfen, CEO of the Distressed Property Institute states "I have personally seen a short sale only lower credit scores by as little as 50 points, as opposed to the 250 to 300 point drop from a foreclosure.  Additionally, the credit effects of a short sale can be as brief as 12 to 18 months, whereas a foreclosure will typically impact your credit score for more then three years". Many lenders are open to ... 08/11/2010

Market Analysis Homes Sold in Beverly Hills MI April 2010 April 2010 median sale prices decreased 23% from March 2010 & # of homes sold increased 26%. Private owned median prices decreased 21% in April 2010 from March ‘10 & # of homes increased 47%. Bank owned homes median price decreased 49% in April 2010 from March 2010 and  # of homes sold decreased 25% in April 2010 from March 2010. April 2010 median sale price decreased 23% from April 2009 with a 43% increase in # homes sold in April ’10. Year ending Apr. 2010 median sale price compared to yr ending Apr. 2009 decreased 10%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold April 2010 109 listings:   23 Sold listings:   Average List Price $237,588 Average Sold Price $170,472 Medi... 06/29/2010

  Market Analysis Homes Sold in Beverly Hills MI March 2010 March 2010 median sale prices increased 33% from February 2010 & # of homes sold increased 71%. Private owned median prices increased 40% in March 2010 from Feb. ‘10 & # of homes increased 89%. Bank owned homes median price homes sold increased 35% in March 2010 from February 2010. March 2010 median sale price increased 65% from March 2009 & 83% with about the same # homes sold in Feb. ’10. Yr ending Mar. 2010 median sale price compared to yr ending Mar. 2009 decreased 9%. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Sold March 2010 109 listings:   17 Sold listings:   Average List Price $242,093 Average Sold Price $197,206 Median List Price  $215,000 Median Sold Price  $175... 06/26/2010

Just got off the phone with BOA about a short sale that they have the 2ndlien.  Spoke to a Short Sale supervisor who told me that BOA will only offer HAFA assistance for 2nd liens when the 1stlien is also with BOA. She told me that the loss on the 2nd liens are to great!!  I told her that the program guidelines state that if a servicer is participating in HAFA on 1st liens they must also participate with 2ndliens, even when the 1st lien is not theirs.  The program was created so borrowers could do a Short Sale to waive the deficiencies.   The most valuable part of the program is the subordinate lien release with out future liability. With out that, then the program is somewhat worthless.  If BOA will not participate in that aspect of the program, why should they be able to participate a... 05/04/2010

  Market Analysis Homes Sold in Beverly Hills MI February 2010 February 2010 median sale prices decreased 34% from January 2010 & # of homes sold decreased 58%. Private owned median price decreased 47% in Feb. 2010 from Jan. 2010 and # of homes sold decreased 86%.  Bank owned homes median price and # of homes sold remained relatively the same in February 2010 from January 2010.  February 2010 median sale price decreased 9% from a year ago February 2009 & # homes sold increased 20% in Feb. 2010. Yr ending Feb. 2010 median sale price compared to yr ending Feb. 09 decreased 9%.  The Year to date summary (farther below), indicates that the market is still volatile with figures fluctuating considerably.  Clearly February was not a good month for  Beverly Hills Michigan Real Estate. Statistic... 03/23/2010

  Beverly Hills Michigan Market Analysis Homes Sold January 1, 2009 – December 31, 2009 These statistics compare month-to-month median price of homes sold from January 1, 2009 to December 31, 2009 in Beverly Hills Michigan. The statistics also compare each month to the previous month in the same year and the same month in 2008.  The year ending figures on the third line compare median price of homes sold year ending January 2009 compared to year ending January 2008 and similarly each month thereafter.  The market has been fluctuating considerably from month to month in Beverly Hills.  We are seeing a narrowing margin of decline each month compared to 2008.  This indicates that prices may be starting to stabilize but too soon to say with the erratic fluctuations in the month to month sta... 02/27/2010

  Market Analysis & Statistics for Homes Sold in Beverly Hills MI January 2010 January 2010 median sale prices decreased 11% from December 09 & # of homes sold increased 17%. Private owned median prices decreased 9% in Jan. 10 from Dec. 09 & # of homes sold stayed the same. Bank owned homes median price decreased 21% in January 2010 from December 2009.  January 2010 median sale price decreased 5% from January 2009 & 83% increase in # homes sold in Jan. ’10.   Yr ending Jan. 2010 median sale price compared to yr ending Jan. 2009 decreased 9% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold January 2010 98 listings:   12 Sold listings:   Median List Price  $229,500 Median Sold Price  $179,950 Avg. Days On Market 171 Avg. Days On Market... 02/07/2010

  Market Statistics for Homes Sold in Beverly Hills MI December 2009 December 09 median sale prices increased 28% from November 09 & # of homes sold decreased 23%. Private owned median prices increased 41% in Dec. 09 from Nov 09 & # of homes sold decreased 36%. Bank owned homes median price decreased 29% in Dec. 09 from Nov. 09.  December 09 median sale price increased 33% from December 08 & 40% increase in # homes sold.   Yr ending Dec. 2009 median sale price compared to yr ending Dec. 08 decreased 9% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold December 2009 89 listings:   10 Sold listings:   Median List Price  $230,000 Median Sold Price  $201,950 Avg. Days On Market 182 Avg. Days On Market 107 Private Owned 75 listings Private... 01/07/2010

  Market Analysis for Homes Sold in Beverly Hills MI Nov. 2009 November 09 median sale prices decreased 23% from October 09 & # of homes sold decreased 19%. Private owned median prices decreased 38% in Nov. 09 from Oct 09 & # of homes sold stayed relatively the same. Bank owned homes median price increased 20% in Nov. 09 from Oct. 09.  November 09 median sale price decreased 20% from November 08 & 62% increase in # homes sold.   Yr ending Nov. 2009 median sale price compared to yr ending Nov. 08 decreased 21% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold November 2009 92 listings:   13 Sold listings:   Median List Price  $227,000 Median Sold Price  $145,000 Avg. Days On Market 192 Avg. Days On Market 196 Private Owned 79 listings ... 01/07/2010

  Market Analysis for Homes Sold in Beverly Hills MI Oct. 2009 Oct. 09 median sale prices decreased 16% from Sept. 09 & # of homes sold increased 31%. Private owned median prices & # of homes sold stayed relatively the same in Oct. 09 from Sept. 09.  Bank owned homes median price increased 60% in Oct. 09 from Sept. 09.  October 09 median sale price increased 3% from October 08 & # homes sold stayed relatively the same   Yr ending Oct 2009 median sale price compared to yr ending Oct 08 decreased 19% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold October 2009 95 listings:   16 Sold listings:   Median List Price  $229,000 Median Sold Price  $188,133 Avg. Days On Market 177 Avg. Days On Market 107 Private Owned 80 listings Private Owne... 01/07/2010

Could it be?  Do my feet feel solid land?  Maybe sunny skies are here again!  Well we are not there yet, but for the first time, in a long time, the numbers show promise.  Below are the November sales number for The Real Estate One group of companies (Max Broock, Real Estate One and Johnston & Johnston), which makes up the largest broker in South East Michigan.  These numbers show, that between the First Time Home Buyer Credit and the fact that real estate is dirt cheap here, homes are selling!   Not just selling, but selling for more then they did the same time last year. I know this positive news is dwarfed by enormous lose of equity, a growing unemployment rate and more distressed properties then the eye can see.  But even in a monsoon of destruction, it is nice to see a rainbow.  Re... 12/08/2009

Market Analysis for Homes Sold in Beverly Hills MI September 2009 Sept 09 median sale prices increased 16% from August 09 & # of homes sold decreased 39%. Private owned median prices increased 17% in Sept 09 from August 09 & # of homes sold decreased 38%. Bank owned homes median price decreased 39% in Sept. 09 from August 09.  September 09 median sale price decreased 7% from September 08 & # homes sold stayed relatively the same.   Yr ending Sept 2009 median sale price compared to yr ending Sept 08 decreased 24% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold September 2009 114 listings:   11 Sold listings:   Median List Price  $248,250 Median Sold Price  $225,000 Avg. Days On Market 190 Avg. Days On Market 92 Private Owned 106 lis... 10/09/2009

The link below comes from a CNN report on how banks are foreclosing on borrowers but never taking title so the borrowers are foreclosed on but still have all of the obligations as owners of the home.  All city fines, taxes, assessment and any violations from the municipality are still the responsibility of the now foreclosed borrower.  Also don't forget the balance of the note plus late fees and interest are still the obligation of the borrower.  Why would the bank do this?  The value of the asset (borrower's home) has declined to a point that it would cost the bank more money to maintain, repair, pay off past fines, dues, legal costs, closing costs, past taxes and commissions to sell the home compared to just walking away.    This is just another reason why a Short Sale, Loan Modificat... 09/09/2009

 Here is a recent article about short sales in USA Today.   http://www.facebook.com/ext/share.php?sid=108582182695&h=sVpXU&u=n4t8k&ref=nf This article really talks about how hard it is to do a short sale and the importance of having professional working with you who know what they are doing.  Make sure that who ever is working on your short sale knows what to do, how to do and will not give up Mike Sher  Some facts from the article to be aware of: 11% of sales in June were short sales. (says NAR) In March of 2008 the average short sale acceptance time was 4.5 weeks and while the last survey done in June 2009 averages 9.5 weeks from offer to acceptance.  The surveys were sponsored by Inside Mortgage Finance, an industry publication. Just 23% of short-sale offers that homeowners receive f... 08/05/2009

One of the problems we have as short sale Realtors is with Nay-Sayers.   Often the press, other agents and co-worker at the coffee cooler constantly put-down short sales.  They tell people that the bank will never take a short sale, they take to long to close, or that they just don't work.  These Nay-Sayers create an atmosphere that causes people to walk away from their homes, hopeless and filled with fear. Well they are wrong, short sales do work and sellers are able to take the high road if they choose.  Below is an article that was written by Greta Guest of the Detroit Free Press.  It is the story of young buyers who purchased a home that they never thought they could afford, a seller who had faith that if did the right thing all would work out and about an agent (me) who never gave ... 06/09/2009

I enjoy a very high Short Sale closing ratio.  I.E., if I list a home as a Short Sale, I often sell it.  Many other realtors can not boast the same claim. Why am I so successful while others are not?  Not because I am smarter or better connected then them.  I NEVER QUIT!!!!  I remember watching the summer Olympic swimmers last year.  If you watched the swim heats, you'll notice that the deciding factor of the race was not the first 180 meters but in the last 20.  Many swimmers got tired, over confident, under confident or just gave up in the last seconds of the race. Short Sales are like that as well. Agents often fail in the tail end of the negotiations, or if they lose the buyer in the 11th hour; the agent is tired, angry and sad; they throw up their arms and gives up.  Never giving u... 05/06/2009