Birmingham, MI Real Estate News

By Maureen Francis, Coldwell Banker Weir Manuel
(Coldwell Banker Weir Manuel)
In early May, a spectacular home in Birmingham hit the market at a list price of $6,395,000, making it the most expensive residence currently on the market in the City of Birmingham.  Our company, SKBK Sotheby's International Realty, has been entrusted to market this exceptional home. 400 Arlington was originally built for Carole Ilitch Trepeck and her then husband David Trepeck, who founded Uptown Entertainment, the company that runs Birmingham's two movie theaters, Birmingham 8 and The Palladium.  Uptown Entertainment is a subsidiary of Ilitch Holdings (as in Little Caesers, Detroit Tigers, Detroit Red Wings and so on...)   The Trepecks decided to move to California and the home was sold to it's current owners in 2002. The 11,000 square foot home sits on 2.25 acres of immaculately ma...
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
Birmingham Michigan .  This is the market that myself and my partner work in.  Birmingham Michigan, a very upscale city that has much to offer to it's residents and anyone who visits. I like Birmingham.  Is offers a diversity of homes, restaurants, coffee shops, shopping and entertainment. As a matter of fact, instead of working in my office everyday, sometimes I visit the local establishments, use their wi-fi system and work on the same computer I am typing on now. This is where I hear what people are talking about, what's on their minds, and how they feel. Inevitably the word "they" comes up in most conversations.. "they say we are going to be in this economy until..." "they say that the real estate market will rebound in..." "they say that it's going to rain today..." "they say...the...
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Birmingham MI Short Sale Tip #41, 10 reasons why to avoid Foreclosure, Expert, Michigan. If you are facing foreclosure, please read the list below. But do not lose hope; my brokerage has helped 100’s Detroiters avoid foreclosure with a short sale. Do not become a statistic, call me today at (248) 644-4700 x242, email mike@mikerealtor.com or find me on the web: www.ShortSaleOaklandCounty.com We have a 90% success rate and we will provide both answers and references. Mike Sher, Max Broock Realtors. 1. You cannot buy again for 5 to 10 years. 2. A foreclosure is stuck on your credit for 7 to 10 years. 3. Most employers pull credit which will hurt you chances of future gainful employment. 4. It is hard to get a security license when you have a foreclosure on your record. 5. Foreclosure is lo...
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
Birmingham Michigan.  Not only one of our area's most upscale community but one of the countries most.  You own the American dream. For many Birmingham MI homeowners it has become a nightmare due to the real estate crash.   If you have taken out a mortgage, and perhaps refinanced to pay for remodeling, to pay off bill's or other expenses, you may find yourself unable to keep up with your mortgage payments after a layoff, divorce, illness or other reason. More and more people and finding they need to sell their home for less than they owe on the mortgages.  This is a short sale. A short sale is definatley better than foreclosure which stays on your credit report for 10 years. It is best to try to work out a solution with your lender before going through the laborious process of selling y...
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
Birmingham Michigan is once again hosting its 47th annual Village Fair from June 3rd through June 6th. The Birmingham Fair is located on S. Old Woodward between Bowers and Landon. This fun 4 day event features  rides, food booths and carnival games.The Birmingham Chamber is offering you a $5 savings in fair wristbanks through June 2nd. By pre-purchasing, the cost of unlimited rides will be only $15.  Advanced purchases are available at 735 S Admas Rd , Suite 130. The Birmingham Fair is also looking for volunteers to help with traffic and parking.  Eash volunteer will recieve one free wristband for unlimited rides during approved times at the fair. Worried about parking?  It's taken care of.  There will be a FREE shuttle with locations at Chester, Peabody and Pierce.  All  city parking d...
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By Robert Pliska
(Sperry Van Ness)
Referral Rewards - They're Yours For the Advice!    By:  Robert J. Pliska, CRE, CPA, Birmingham (Detroit), Michigan   In these more difficult times in investment, residential and commercial real estate, we continually try to find ways to obtain additional income.  This income can be received differently than our typical core business.  One approach being used is to refer business to others and get actual cash referral fees or at minimum a pat on the back where the referring beneficiary will feel obligated to pay you back in some way.    In investment, residential and commercial real estate, we are continually working with clients who have needs that we are aware but we may not have the expertise within our own capabilities.  Yet, we are our client's trusted advisors.  You can obtain a r...
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
  Birmingham Michigan a Most Desirable Destination   If you have been thinking about where to go for a fun weekend getaway then look no further, the city of Birmingham, MI. Birmingham a suburb of Detroit, is a quaint city that is rich with culture, natural beauty, charming upscale shops, excellent restaurants, elegant hotel accommodations, and plenty of events to keep you entertained.   One of the most impressive qualities of this enchanting town is that it’s a walk-able community. The city of Birmingham, MI has many families that call it home because they love the fact that they can walk to the schools, to the grocery store, to the library, and to the movies. Being such a self contained community, Birmingham, MI has its own farmer’s market, is home to the Birmingham City Players, and h...
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Using Quotes to Achieve Success In Investment, Residential and Commercial Real Estate   By:  Robert J. Pliska, CRE, CPA, Detroit, Michigan   Investment, residential and commercial real estate has been very trying in the last few years.  An area that may help you as a real estate owner, investor and/or broker/advisor is to improve your attitude and your mental psych.  A way to do this is to latch on to a few quotes that you feel appropriate to keep your enthusiasm up, provide momentum to get through a crisis, add a little humor to a difficult situation, use  to close the next deal, provide impetus for a good return on your investment and any other way you see appropriate..   This has helped me as an investment and commercial real estate advisor and helped many of my clients get through t...
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
Live Birmingham Michigan!  With so many sites that are generic and about me, me me.  The time has some for a site not only about real estate, but what is going on and happening in one of the "top 20 walkable" communities in the country.  Birmingham Michigan. Live Birmingham Michigan is multi-faceted.  It offers the reader information such as the history, events, funs facts and other interesting things in and about Birmingham.  Also featured are videos and links to other sites.  Live Birmingham Michigan is truly an innovative site, as the reader will feel comfortable without the hassle of being sold on someone or something.    Along with the valuable info, you can also search for any home for sale in Birmingham Michigan , as well as a specialized search for foreclosed and bank owned home...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  This is opening day of the Birmingham Michigan Farmer's market - May 2, 2010.  Each year the Birmingham Michigan Farmer's Market opens for the summer at the Municipal Parking Lot #6 on North Old Woodward Ave. The Farmer's Market is every Sunday at 9AM - 2PM.  Fresh produce, flowers, vegetables, baked good, organic foods, live entertainment and Kid Zone of kids' crafts. This week the live entertainment was Paul Miles on the guitar.  While there were more flowers than produce this early in the season, it's a great place to visit each week to get great fruit and vegetables.  I was very entertained by a demo of the Magic Vase Amazing Hat by Mriya Designs who can often be found at the Market - or her website. Each week there are activities for the kids and this week, they are seen her maki...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Market Analysis & Statistics For Birmingham MI March 2010 March 2010 median sale prices increased 18% from February ‘10 & a 26% increase # of homes sold. Private owned homes median price increased 17% in March ‘10 from Feb. ‘10.  Bank owned homes median price increased 12% in March ‘10 from Feb. ‘10. March 2010 median sale price decreased 7% from March 09. Yr ending Mar. 2010 median sale price compared to yr. ending Mar. 2009 decreased 7%.  While the yearly comparisons (at the bottom) are improving, the totals have not yet leveled off and are still declining from previous months and year 2009.   Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Solds March 2010 310 listings:   35 Sold listings:   Average List Price $625,959 Average Sol...
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Why Fight Foreclosure Alone! There is big news for homeowners in America. In an effort to slow the rising number of foreclosures, a government-backed program has been released: the Home Affordable Foreclosure Alternatives Program (HAFA). Basically, the program aims to save as many Americans from foreclosure as possible, which also saves the overall value of the surrounding communities. HAFA offers a $3,000 homeowner incentive for successful short sales or deeds-in-lieu, and also guards the homeowner from harmful lender actions. To learn more and find out if you are eligible, you can download my free report here: http://shortsaleoaklandcounty.com/ With one in six homeowners struggling to make mortgage payments, there is probably someone you know who could use this information. As a Certi...
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  Government Programs …Check Your Eligibility Now. There are a number of government programs available to provide you with solutions. See which program below matches your situation best, and then take the survey to see if you are eligible.   http://www.shortsaleoaklandcounty.com/Eligibility.aspx  Mike Sher Max Broock Realtor, Bloomfield Hills (248) 644-4700 ShortSaleOaklandCounty.com      
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By Mark Wasserman
(248-877-8548- Prudential HWWB Realtors of Birmingham MI)
Birmingham Michigan Home sellers today must convince a new era of buyers returning to the market that their homes stand for value and quality. The growth of the internet has made the time-honored open house event no longer a effective way to market your property . While your real estate professional will market your home,it is up to you to ensure that your home is seen in the best light possible. Remember, you only have one chance to make a first impression, so approaching your home selling experience here are several ways to make your property shine, inside and out.When getting your home for sale ready for buyers, start with the outside. Do a visual check of the front of the house from across the street. Does your property have curb appeal? It should look inviting, with a trimmed lawn...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis & Statistics For Birmingham MI February 2010 February 2010 median sale prices decreased 38% from January 2010 & # of homes sold increased 27%. Private owned median price decreased 34% in Feb. 2010 from Jan. 2010.  Bank owned homes median price decreased 51% in February 2010 from January 2010.  February 2010 median sale price decreased 30% from a year ago February 2009 & # homes sold increased 27% in Feb. 2010. Yr ending Feb. 2010 median sale price compared to yr ending Feb. 09 decreased 13%.  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 Birmingham Real Estate. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Ac...
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By Robert Pliska
(Sperry Van Ness)
    Understanding the Acquisitions Process in Commercial Real Estate    By: Robert Pliska, CRE, CPA | Managing Director Sperry Van Ness | Birmingham, MI One of the most important parts of the commercial real estate lifecycle is the acquisition phase. I believe most reasonable people would admit that the best way to have a successful outcome to any real estate venture is to get off on the right foot to begin with. While it's certainly possible to "rescue" a troubled project, the best way to safeguard against a troubled scenario is to minimize future risk through the implementation of a sound acquisition plan. In the text that follows, I'll offer some thoughts about some of the most common acquisition mistakes and how to avoid them. Put simply, bad acquisitions are not healthy for financi...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Birmingham Michigan:  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 Birmingham 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.  For the last 3 months of 2009, we see a trend upward where home values are increasing from the previous months in 2008 and a declining negative value in the same months.  This indicates that prices may be starting to stabilize.  Year ending D...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Birmingham MI Statistics and Market Analysis Homes Sold January 2010 January 2010 median sale prices increased 18% from December 09 & a 44% decrease # of homes sold. Private owned homes median price increased 20% in Jan. 2010 from Dec. 09.  Bank owned homes median price increased 59% in January ‘10 from December 09.  January 2010 median sale price increased 41% from January 09. Yr ending Jan. 2010 median sale price compared to yr ending Jan. 2009 decreased 11% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Solds January 2010 277 listings:   19 Sold listings:   Median List Price  $419,000 Median Sold Price  $320,000 Avg. DOM 202 Avg. DOM 102 Private Owned 259 listings Private Owned 11 Sold  Median List Price  $460,000 Median Sold Price...
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This adorable Birmingham home was on the market for two years without an offer.   Two weeks after staging with Stage-Show-Sell., LLC it had an offer. The cape cod had a bedroom and sitting area on the upper level with a beautiful bathroom. The entry level had a bedroom and a full bath. These were also staged. Tha basement was confusing because it didn't have a purpose to the buyers eyes.  The seller  used it for a media room and that wasn't selling the house esp. with it vacant. Having the basement staged gave the buyers the option of knowing that it could be used for a bedroom.  Please note the exit window.  The basement could also be used as an office or media room      
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