January 2010 Real Estate Stats

January 2010 Real Estate Stats For South Haven And Surrounding Area's

There were 11 units sold for January 2010 VS 14 units sold in 2009. Days on market for January 2010 were 64 days Vs 112 days in 2009. Dollar volume for January 2010 was $1,187,320 VS $1,248,300 for 2009. There were 52 REO/Bank owned units and 5 short sale units.

We have had some interesting stats over the first month of 2010. Activity continues to be growing with both buyers and sellers. The days On Market was considerably down for this past month compared to a year earlier. The total of sales volume was off 5% over last year. We have seen an incredible change where buyers are actually buying properties at 2005 prices. This is like having a time machine that allows buyers who have been caught chasing the market to go back 5 years and get exactly what they have wanted for years, but could not due to increasing prices. On the first time home buyer front, we are seeing buyers taking advantage of the $8,000 tax credit that applies to anyone who has not purchased a home in their name in the past 3 years. Even if you have, you can be eligible for a $6,500 tax credit. With the low interest rates, buyer tax credit and decreased prices, the first half of 2010 appears to be starting off on the up swing for sales.

The Way And Servatius Team

Real Estate Stats South Haven Mi

South Haven November 2009 Stats

The stats for November 2009 for the South Haven area and Southwestern Michigan Real Estate are brought to you by the Way And Servatius Team from Southwestern Michigan's #1 Full Service Residential Real Estate Company, Shores Real Estate.

November 2009 was an overall mixed month for real estate sales with smaller areas such as coastal resort towns like New Buffalo & South Haven seeing an increase in sales while larger areas such as Saint Joseph seeing a decrease. Almost all markets saw an increase in days a property stayed on the market, with the exception of Benton Harbor & Dowagiac. Every market area saw a decrease in average sale price with almost all but a select few seeing double digit percentage changes in average sale price. The South Haven area was one of the few that only saw a slight decline of 4% with areas such as Coloma & Watervliet seeing a 32% decrease in sales price for year to date. South Haven had a 22% increase in the Median Sales Price index for November, but the overall YTD change for all of Southwestern Michigan were decreases with 9 out of 11 areas seeing a double digit percentage decrease in median sales price for 2009.

Dollar volume for the area for November 2009 was up 43% over November 2008 which helped the YTD change to be off 20% over last year. South Haven had only a 2% decrease in YTD Dollar Volume compared to Bridgman and NewBuffalo who saw a 21% decrease. What this shows us, is that the market is still active. Buyers are taking advantage of the lower prices and the sellers are taking the loss they are receiving on the sale of a property and making that lose up with the next purchase of property.

Interest rates remain low and the $8,000 tax credit for first time home buyers and $6,500 tax credit for anyone to buy a new primary residence are generating sales. These tax credits are in place only until the coming April 2010.

Overall the sales are coming from listings that are priced to sale while the market is ignoring those listings that have become stale due to being on the market to long, as well as being overpriced. New listings priced correctly are seeing a lot of action.

The Way and Servatius Team are full time Real EstateProfessionals who service the entire shoreline of Southwestern Michigan. Dan and Ryan can be contacted daily for real estate consulting and sales at either South Haven, Saugatuck or the Douglas Shores Real Estate offices. Shores Real Estate is the area's #1 Full Service real estate & rental company servicing the area with top tier professional agents.

Best Regards,

Way And Servatius Team

March 2009 South Haven Real Estate Statistics

The Way & Servatius Team Real Estate Market Report



The following information about housing sales in the South Haven, Bangor,Covert & surrounding areas is provided through the Southwestern Michigan Association of Realtors and complied by Ryan Servatius & Dan Way of Shores Real Estate.



Housing Units Sold* 19 Units were sold in March down from 20 units sold in March of 2008, for a 5% decrease in sales*



41 Units were sold from January through March, down from 53 units in the first 3 months of 2008, for a 23% decrease.



Average Number of Days On Market (DOM)* For March, the average was 75, down from 104 days in March of 2008 for a 28% decrease.* For the first 3 months of 2009, the average was 91, up from 90 Days in the first 3 months of 2008 for a 1% increase in , TOM = Time On Market



In the first 3 months of 2009, the dollar volume was $4,970,376, down 54% from the first 3 months of 2008 of $10,849,802. Overview South Haven, Bangor, Covert & the surrounding area housing market is down across the board with continued decreases in median price to dollar volume overall.



Recently I have seen an upswing in buyers looking for homes along the lakeshore in the South Haven Michigan area . Part of this may be the Federal Reserve is pumping trillions of dollars into the financial system. In addition, there are promises of tax cuts and the continued lowering of oil prices and lower interest rates. This is all massive and it could help the real estate market turn around by the later part of this year, in which we could see an abrupt growth in the market.



Statistics show that the lakeshore area for first and second homes has provided a good return as an investment and still continues to do so! Real Estate has always been a cyclical business and the market has had downturns and upswings before and it will happen again.



Time has shown us what goes down will always go back up. Home values will continue their appreciation value over the years ahead because inflation has always made sure of that for us. With lower interest rates and price adjustments by sellers, it makes a great time for buyers that have been sitting on the sideline to buy that first home or second vacation or investment home.



- Best Regards, Dan Way & Ryan Servatius

Real Estate News In South Haven

Shores Good News Real Estate

IT'S TIME FOR CHANGE IN REAL ESTATE TRADITION,

WHEN THE MARKET CHANGES IT DEMANDS NEW SOLUTIONS

THE WAY AND SERVATIUS TEAM

Through my blog site I am sending most of you for the first time a newsletter called "Shores Good News Real Estate". There is plenty of bad news out there, I like to stay focused on the "Good News". On a regular basis, I will send you a newsletter to keep you posted on the real estate market. My blog site will provide a one stop real estate destination that will provide many different sites for searching for real estate and many other links for real estate information, including updates on the market.

Change is important to continue to be successful at what ever you do, "Change fighters have no place in business" as they do their clients a disservice! For the past year I have been taking a proactive look at how the real estate market is changing and how I can provide improved service for clients and friends! Therefore, I want to announce the layout of my improved foundation to provide better service to you.

I have always been a big fan of team work, which has always worked well for me. Therefore I am teaming up with another real estate agent that just started with Shores Real Estate, Ryan Servatius, the "Way and Servatuis team".

Ryan has his Broker license and has finished his ABR GRI, I, II, III, e-PRO technology and the Institute For Luxury Home Marketing as well as the Resort And Second Home Specialist course. Ryan managed up to 14 agents for ERA Real Estate in South Haven Michigan. He also headed up the Cartus Relocation for their Southwestern Michigan offices. He also was a Sales Manager for multiple offices and increased sales and volume in down markets. He also chaired the Planning Committee of the South Haven Township for 5 years. He has been a life long resident of the South Haven area and and has been involved in many different organizations throughout the community.

Ryan and I encourage technology as it has become a very large part of the real estate market. The days of picking up a paper or magazine to market and look at homes to purchase are becoming a thing of the past. The following new initiatives for sellers and buyers will be provided and improved on as the market changes:

A team blog site will be used to communicate. If needed we will be communicating through 0Voo for video conferencing.

Website for the Way and Servatius team is being created.

We are developing workshops for our clients who want to learn about investing in the real estate market. A tour of the lake shore area and a light lunch will be provided.

Our portfolio's will be on a pocket size cd's with links to many different real estate sites and information.

I-pod real estate interviews will be available for downloading.

A charity event will be planned to give back to the community.

Former Federal Reserve Chairman Alan Greenspan once was asked what he thought the difference was between the wealthy and the middle class, his answer was , "The right education!" I don't believe he was talking about earning a degree at a college. If you want to make money investing in anything, you need to be educated properly . When you want to invest in the market you call a financial advisor and the same should be true when you want to purchase real estate, you call a professional real estate agent. For sellers and buyers the Way and Servatius Team are ready to meet the new challenges in today's market.

As always "Real Estate Greatly Increases Your Chance For Wealth And A Secure Future".

The Way and Servatuis Team -Realtor

Lake Michigan Real Estate

Real Estate Market Conditions

Recently I have seen an upswing in buyers looking for homes along the lakeshore in the South Haven Michigan area . Part of this may be the Federal Reserve is pumping trillions of dollars into the financial system. In addition, there are promises of tax cuts and the continued lowering of oil prices and lower interest rates. This is all massive and it could help the real estate market turn around by the later part of this year, in which we could see an abrupt growth in the market.

If you were to listen to the media you get a feeling that the real estate market is all doom and gloom. The fact of the matter is the media never tells the whole story and rarely is quick to point out the area’s that are doing well. Statistics show that the lakeshore area for first and second homes has provided a good return as an investment and still continues to do so!

Real Estate has always been a cyclical business and the market has had downturns and upswings before and it will happen again. Time has shown us what goes down will always go back up. Home values will continue their appreciation value over the years ahead because inflation has always made sure of that for us.

With lower interest rates and price adjustments by sellers, it makes a great time for buyers that have been sitting on the sideline to buy that first or second vacation or investment home.

Dan

REAL ESTATE ALONG THE SHORES OF LAKE MICHIGAN - from the desk of Daniel Way




This year we have listened a lot about CHANGE from politicians and business people throughout the world. I am a big advocate of change because it needs to happen not only within ourselves but also for Real Estate to sell. Becoming complacent and always taking the attitude that it has always worked in the past, just doesn’t work anymore nor has it ever! Therefore I would like to share some thoughts on getting homes sold in in a slow and CHANGING market.

• The pricing of a home needs to be right from the start. In a slow Real Estate market a home has to be one of the BEST home values in their price range!



• Staging your home. Pay someone to help with this, it is worth every amount of money spent!



• Walk through your home from a buyers eyes. You need to separate your home from the other potential homes by having it spotless



• De-Clutter and de-personalize which means pack up personal photographs and family heirlooms.



• Rearrange bedroom closets and kitchen cabinets.



• If selling your home furnished remove and replace favorite items.



• Make minor repairs and even give some thought to light remodeling.



• Scrutinize and check curb appeal .

For more information on buying or selling a home you can log on at hhtp//http://www.realtor.org/ or http://www.shoresofsouthhaven.com/

Investing In Lakeshore Rentals

REAL ESTATE ALONG THE SHORES OF LAKE MICHIGAN - from the desk of Daniel Way

Even in challenging housing markets building wealth through Real Estate investing can provide long term appreciation and short term gains. Some of the smartest Real Estate investments are incoming producing property.


Purchasing homes in Lake Michigan shoreline communities such as South Haven, Saugatuck and St Joseph Michigan has many benefits. While enjoying your second home you can also enjoy the benefits of income from weekly rentals during the summer months. Summer typically is the best season for producing high returns on you real estate investments.

My three B's are :

1. BY IN THE RIGHT LOCATION. Purchasing properties on Lake Michigan or with Lake Michigan access, walking distance to town and to stores and activities are all very popular with renters and insure excellent appreciation.

2. BUY THE RIGHT PROPERTY. Maintenance free exteriors are very popular. Three bedrooms are desired with 1-2 baths minimum. Homes with porches for outside family gatherings are recommended. Cottage style looking homes are very popular.

3. BUY AT THE RIGHT PRICE. While it may seem obvious there are many factors to consider while looking for a good value. Today is an excellent time to buy real estate at very reasonable prices. It should always be a part of a good portfolio. As always, Real Estate Greatly Increases Your Chance For Wealth And A Secure Future!

Dan