Charlevoix County Residential Median Pricing Stats 2009-2017

In preparation for this blog I went back to 2009 to see what the median price appreciation or depreciation was over the years since the financial debacle in 2008.  

Our MLS provides monthly stats and a year end summary in December.  It's those reports that I used to come up with the numbers.  I also measured the units sold to see how that would correspond to the sales (demand).  

You can see from the graph that the units sold does have the same general shape as the fall and rise in prices. The most interesting thing to me is that if you take the percentage increases and decreases over the displayed years, do you know what the average per year prices did?  Rose 4.3%!  

While we were living the recovery, we weren't feeling it, but real estate continues to be a good investment.

Help the Boyne City Class of 2020

The clock has started on the matching grant Associate Broker Brett Binkley and O'Brien & Associates has offered to the Class of 2020 to help them raise money for school activities they are responsible to provide.  The grant is UP TO $425 but you have to hurry.  The clock runs out at the end of the day on Friday February 2nd!

Donate, buy some baked goods at the varsity basket ball, sell a kidney*--whatever you need to do to support this broke (but very bright) class of future leaders (God help us all!).**

Thank  you and help make these young adults dreams come true!

Contact:
Shelly Brya  kreynolds@boyne.k12.mi.us  
at the high school to donate

*Please do not sell your kidney, it's a joke
**Also a joke

Demand Remains Strong

From too many homes to needing more to sell in the span of a few years. Homes priced under 300k are in high demand.  Affordable housing is an issue for our service based economy in northern Michigan.  If a home in that price range hasn't sold, there could be a very good reason--or it's just not priced properly.  There are still home owners out there that may be underwater from the bubble in the mid 2000's and may not have

room to move on the price.  Why is that if prices are back up?  Some of those sellers may have taken out a loan with a minimal down payment or 100% loan like a Rural Development loan and cannot cover the closing costs because they don't have enough equity built up.  Unless they have money they can bring to the table they're stuck.

There was a decline in sales (or fewer than expected) in Emmet County. I believe that to be not an indication of slower demand but lack of inventory. There is a need for home owners to list their homes for sale. If you think the timing is right for you and your family to sell, please don't hesitate to contact me for a free market analysis.

Changes are Coming to a Couple Favorite Websites

Look for a new look and features coming soon!

I'm excited to announce that some changes are coming to a couple of our favorite sites, the patobrien.com and boynecitywebcam.com.  First, the patobrien.com site will feature a great new search option.  Always trying to remain a leader on our field and not willing to rest, we're making or site more user friendly.  We have the top local real estate website, driving traffic to our clients' properties.  Stay tuned!

Higher Definition Camera Coming...

The other site, boynecitywebcam.com, that provides a 24 hour view outside our office window, is awaiting the arrival of a new camera to enhance the experience.  One feature will be html broadcast that will allow iOS (Apple) devices to see the images more clearly and without having to click over to the button currently on the page.  Visitors to the page enjoy seeing Friday night events, 4th of July parades, traffic and weather (January is a huge month for visitors).  Other features include local events calendar, weather, links to property searches and local information.  Please visit long and often to these sites!

Pricing it Right Still Matters-2018

This is a re-post from my blog from 2016.  We are in the midst of a good market with prices rising due to lack of inventory (supply and demand).  The MARKET determines what the selling price is going to be.  Even though this is from 2016, it is VERY IMPORTANT that the home is priced right or it won't sell.  The longer it's on the market, the more likely it is that it will actually sell for less than originally thought.  Time on the market is more time that the seller has to pay taxes, do maintenance, and keep their life on hold.  Timing and weather do have an influence, historically the time between Thanksgiving and the New Year is very slow and during the early winter.

If you have any questions please contact me:
Brett Binkley 231 590 8230 brett@patobrien.com

Or follow on social media:
@brettbinkley on Twitter
@brettbinkley-realtor in Instagram
@brettbinkleyrealtor on Facebook


So you've made the decision to sell your home.  You hire a good Realtor and he/she makes a listing price suggestion, but you decide to list at YOUR price--have you REALLY made the decision to sell your home?

Listed and U/C in 9 Days!

The internet and the information available removes any secrecy about your home.  Buyers compare location, finishes, size, amenities, etc. to the prices of similar homes online.  Plus, any savvy buyer is going to hire an agent that will do the research and help them to determine whether the home is
priced right.  Keep in mind that the selling price on any property that is going to be financed has to justified by a lender's appraisal.  A deal you thought you had can go away or you're left renegotiating.

There will be times that even a good realtor will miss the mark on pricing.  Then there are the realtors who will give a higher than market price, leading the seller to believe the home is worth more than it is in order to get a listing. In the end, a realtor is going to support the clients' decision on what price to list their home.  If the home does not receive offers, it is the agent's responsibility to suggest things (including reducing the price) to get the home sold!

Make Your Wishes Come True--Happy Holidays!

Hi Valued Customer, We tend to hear a lot of bad news in our lives with the onslaught of 24 hour news, emails, and social media.  It's easy to think the worst of humanity, but I think there will always be more good than evil people in our world.  One thing I've noticed is there is an underlying optimism in all of us--that things will get better.  Isn't that what gets us up in the morning and start each day?  To work hard and demand more from those around us and ourselves? I started saying "make it a great day" rather than "have a great day".  Take charge of your own destiny and don't wait for something to happen.  If you don't like what is going on around you then get involved and make a change.  Even with all of our differences with one another, we're all in this together and we have to come together when it matters. I wish you and yours a very blessed holiday season and a happy and prosperous New Year!  Now get out there and make something happen... Starting to Sweat Our resort economy needs snow. Just like the sunny warm days are relied upon in the summer, our "winter" businesses need snow. We average about 114" per year and I can tell you have only had a fraction of that so far.  As you can see from this picture taken just a day ago, there is none on the ground. Skiers stay positive, the ski resorts are making it when they can! To see the current conditions live and the local forecast click the link below. Link to my website Heating Up! I try not to bore you with statistics, but I think many of you want to know--owners and buyers alike--what real estate values are doing in northern Michigan.  I took numbers fromall areas and all categories that have properties listed in our MLS from 2012-2015.  In my research I'm seeing an average of almost 7% gain per year in the median price for that time frame.  I don't need to tell you if you're going to buy, sooner is better.  Call me or click below to get started! Link to my website Type Title Here Thanks to all for my best year in real estate!  I love to serve and when I succeed I'm able to give back to my community. I look forward to hearing from you in 2016!  Follow me on Twitter and I'll follow you back. @brettbinkley Link to my website

Real Estate Statistics are LOCAL

As a realtor, I get asked regularly how real estate "is".  As many of you have heard before, real estate is local.  For example, I serve customers in Charlevoix and Emmet Counties primarily. Current stats through July 2015 indicate that sales in Charlevoix County year to date in terms of number of transactions is even with 2014 268 v 267.  On the other hand, Emmet County is up over 32% from 278 in 2014 and 376 this year.  In terms of median price, Charlevoix County year to date is up almost 14% and Emmet County is up just over 7%.  These numbers are important whether you're a buyer or a seller so you have realistic expectations for your goals.  If you just read the national headlines you may be disappointed when your offer doesn't get accepted or or property doesn't sell quickly.  If you're a seller and would like a market analysis in an easy to read format, contact me and I'd be happy to help!  Or, if you're a buyer looking for an agent with your goals in mind, let me know.