The Big Question

As would be expected, I frequently find myself in conversations with family, friends and even strangers that center around housing and current state of the market.  Most of these conversations start out with this question...

So how's business?    

As is my practice, I do my best to answer honestly.  It's not a difficult question because it is a direct reflection of my own personal business.  But this question is usually followed by a much more difficult question.  A question that is loaded to say the least.  A question that can only be answered based on opinion and attitude.

So are we at the bottom?

Man this is a tough questions to answer!!!  If I had a crystal ball and could answer that question with 100% accuracy I would probably have my own nationally televised show on CNN.  But despite the difficulty and precarious nature of this question, I do my best to answer it with as much grace and accuracy as possible.  So here it is, written down for the world to see. This is my official stance on pinpointing the "bottom" of the market.

I choose to believe that the Michigan market is past the bottom and has started it's recovery!  I say this based on the things that I see every day.  Time on the market for sellers has greatly decreased. We are rarely seeing homes sitting stagnate on the market for more that 90 days.  Bank owned properties are starting to make up less and less of the market and are selling within days of being listed.  Short Sales are beginning to process faster. Average time is getting closer to 60 days in these traditionally brutal sales.  Competition in the buyers market is growing.  We are starting to see a lot of multiple offer situations as well as properties selling within days of being listed, sometimes above asking price!  Buyers no longer have the luxury of finding a home and then "thinking" on it for weeks at a time.  

Are these signs of a recovering market?  I believe so.  If you look at the most universal law of economics,  supply and demand, you too may start to believe that this market is no longer what it was. If the supply of houses in the market continues to decrease and the demand for those homes begins to increase, what will happen?  Naturally the price of homes will go up.  How long will this take, I don't know.  Will we see prices increase soon?  I hope so.  But if you are considering making a move in this market be aware of these conditions and know how they effect you.  With interest rates floating around 5% and prices still low, now is great time to buy.  With competition increasing and the forclosure market decreasing, the need for good homes at a fair price is great!  Today could be the perfect time to consider selling your home and moving up into a larger property.  There are plenty of ways to take advantage of this market but in the end, the choice is yours!

I believe that state of the market, is in large part, based on attitude.  If we all walk around complaining about how bad the economy is, focusing on all of the negatives and potential pit falls of the market, will it ever recover?  I don't think so.  We need to shift our focus to the positives.  The Michigan job market is increasing.  Businesses are beginning to post positive numbers.  Consumers are beginning to spend money again.  These are all signs that things are getting better.  If every one of us chooses to focus on the positives and spread that to those around us, the shift could be great! 

So in the end, who decided the "bottom" of the market?

You and I

A New Commitment

Today is an exciting day for me.  I am working on a complete overhaul of all my web based promotional and networking communication sites.  I am making it a goal to have a renewed commitment to providing both usable and up to date information on the current real estate market.

I understand that there are a lot of opinions on the web about what the market is like and how you as the consumer should act.  It is my goal to help you sift through those opinions. I want to create an avenue of information that you can trust and turn to for answers.

So here it is, I am committing right now to regularly providing you with the information you need keep up with an ever evolving real estate market.  I am committing to be the professional you can trust, who is going to give you the honest opinion you need to make the right decisions in a difficult market.  I am committing to provide useful information that will hopefully generate useful discussion that will help us all learn along the way.

If you ever come across and article or clip that you would like me to address and discuss, please send it my way. I can be emailed any time at stewartrealestate@yahoo.com

A Fresh Start

"It is time to stop fighting among ourselves" "It is time to solve our problems and create new opportunities" "We need to put party and geography aside and come together as Michiganders to reinvent Michigan" "The old ways don't work and it is time to start a new era" "This is our moment of opportunity to realize we have a bright future instead of a declining future" " We all want to live in a state of high expectations and results. We can only achieve extraordinary things if we aspire beyond traditional thinking. The old unbelievable needs to become the new achievable. Let today be the birth of a new chapter in Michigan's history. Let today be the birth of the era of innovation and reinvention"

- Gov. Rick Snyder

Many of those who know me well, know that I love New Years Eve. It is a defined end and new beginning. You take the day to reflect on the year that was and dream about the year that is to come. A new year brings the chance to refocus and reinvent.

The past few years for Michigan have been hard to say the least! But with the new year, Michigan has it's chance to start a new. With a new Governor in office and fresh outlook we have the chance to change Michigan. No one knows what 2011 will offer, but isn't that what makes a new year so exciting??

I choose to believe that 2011 will bring new hope. This is the year that Michigan will turn itself around.  Join in and do your part to make a difference. Attitude alone can revitalize a city. Never underestimate the power of a positive attitude!

Take the time right now to evaluate your year. Make goals, write them down, and put together a plan of action. This is not the time to sit back and be a spectator. Get in the game and do your part to put Michigan back on the map!

Welcome

There are millions of question surrounding today's Real Estate Market. This not only specific to the State of Michigan but also to the country as a whole. There is so many facts and opinions available to the market that it is hard to know what to listen to. It is because of this that I have chosen to blog about the current issues in real estate. It is my goal to bring a practical view point to the many issues that we face in today new market.

I plan to explore the issues and articles that come across my desk every week. It is my hope that the readers of this blog find it both interesting and useful. I also hope to create valuable discussion and dialog so that we can all do our part to restore and re-energize the Michigan Real Estate Market.

I am excited for 2011 and hopeful that we can find a way to get this State back on track!

Kevin Stewart
kevinstewart.remax.com