Happy New Year from Team366

So, the end of the year is upon us and many folks take this time of year to reflect on what’s happened the year prior.   2008 will go down in the history books with a few notable events.  Not least of which is the Presidential election that has FINALLY ended and the near collapse of our financial system.  Gas prices, just a few months ago, were over $4.00 a gallon and now can be had around Ann Arbor for about $1.55, or so, a gallon!

Oh, but wait, this is a blog about real estate….Did anything of note happen in 2008 with regards to real estate?  Well, here’s a quick list of things that happened in the Ann Arbor real estate market:

• The University of Michigan announced it’s intention to purchase the former Pfizer facility;
  • Will create 2,000 jobs across the next 10 years and increase U of  M’s wet lab research space.
• Combined Residential and Condo Sales prices declined at nearly 1% per month in 2008;
• Nearly 4% more real estate was sold in 2008 than in 2007 (through the end of November);
• Real Estate Video became THE marketing tool for property;
• The mainstream media recognized, finally, that the housing market was rough for sellers;
• Real estate marketing dollars are flooding to online avenues;

What did I learn in 2008?  Well, here are a few lessons this real estate agent learned:

• When looking at foreclosures, expect to find ANYTHING;
  • 4 foot long strands of mold are NOT fun to bump into!
• Reverse offers for your selling clients make everyone’s day;
  • that’s where my selling clients make an offer to some interested purchasers.
• Technology in real estate will NEVER overtake real estate skills in getting transactions closed for clients;
  • Technology simply automates routine processes. Clients are different from transaction to transaction.
• Many agents were desperate for a transaction this year;
  • The frantic requests for feedback and near breaches of fiduciary responsibility were the tip offs!
• No matter the marketing system, great price wins out every time!

So what does 2009 hold for the Ann Arbor area real estate market?  Tough to say.  If anyone has a clear crystal ball on this subject, I’d like a peek please, mine’s kinda murky!

The data shows strong trends towards lower prices in 2009, but it is my belief that prices will bottom out in mid/late 2009 for the Ann Arbor real estate market.  Number of units sold will continue to trend up and new listings will continue to fall and then plateau to “normal” levels.  Again, I think this will happen mid/late 2009.

Ridiculously low interest rates have shown to push buyers off the fence.  So, if low interest rates are the standard for 2009, expect well-qualified, first time homebuyers to hit the market.  This means, of course, that first time homebuyer homes will be the property of choice to be selling in 2009, along with foreclosed properties.  I talked about the changing face of Ann Arbor real estate earlier.  

What do you think will be happening in real estate for the year 2009?  Any predictions for the Ann Arbor market?  Drop a comment and let’s start the conversation!

image source *SallyM*

A lot of ink (or bytes) have been written about the current condition of the housing market;  Good real estate news and bad real estate news.  Here in the Ann Arbor real estate market, we’ve been insulated from a lot of the slump that has hit Southeastern Michigan.  And even with that insulation, it has been a challenge for Ann Arbor sellers to get their homes sold!

An Analogy

Recognizing that a lot of static no longer exists on our radio dials (or rather, our radios skip over the majority of it), let’s use the analogy of trying to tune a radio into a specific station.  You run the dial up and down the stations, around the area you believe your station of choice is, but all you hear is static with the occasional blip of a recognizable sound.  You know the station is there, but the “band” to tune in to is too small or not strong enough.

This is exactly what sellers have been dealing with the last two years or so in the Ann Arbor housing market.  There has been a lot of property for sale in Ann Arbor and sellers have struggled to make their property stand out from the background noise!  How frustrating, especially when the seller’s home offers great value and quality.

If you have a great property at a great price, but no one knows about it, is it still a great property?

Unlike other real estate grops, Team366 shouts from the virtual rooftops about our listings!  Many agents will only be able to generate 10 Google indexed links to information about your property.  Team366 generates between 450 and 1,000 links back to your property!  Check out our listing at 2641 Emerald 1007 Arborview, Ann Arbor, MI [ed. new address input 10/14/08], and note the number of indexed links in the blue bar to the upper right side of the page.

With $4.00 a gallon gas, it makes sense to give buyers the ability to experience your home without driving!  That’s why Team366 makes use of narrated walkthrough videos of our listings.  Give the prospective buyer all the impetus they need to see your home before they see someone else’s.

A quick list of benefits to working with Team366:

• More Google indexed backlinks than any other team or agent;
• Extensive use of video;
• Instant feedback on showings, when we receive it, so do you;
• Regular updates of your homes exposure on the internet
  • see how many and where prospective buyers are coming from

Drop me a note [todd-at-team366-dot-com] or give me a call [734.330.2392] to learn more.

Team366 Walkthrough Videos

Team366 Property Search and Save

Lane Bailey, an Atlanta, Georgia Realtor, has a great post entitled, “What is my agent doing to sell my home?“

He brings up many good points.  Of course, I jump all over the first point he makes, “The number of buyers that begin their search on the internet is approaching 90%.” While the rest of the article is crucial with regards to photos and remarks, next to pricing, keeping in mind where buyers come from is the biggest point to address.

Approaching 90%

That’s a lot of the marketplace concentrated in one location.  But that one place is a HUGE and raucous place to try and break through with a coherent message about a property for sale.  In addition to all the usual places a property is listed online (broker’s site, realtor.com, agent’s personal site, etc) one should be able to use the all powerful Google and find how many indexed links there are about a property.

With regards to Ann Arbor area homes, the typical property will generate an average of 7 links about that specific property on Google.  Team366 utilizes a unique Listing Syndication System (LSS) that consistently generates 450-1,000 indexed links back to information about a property.

As an example, check out 2641 Emerald, Ann Arbor, MI.  As of this post, it was showing 605 indexed links that point to our marketing effort for this home.

Real Estate Media

It’s no longer just about how many photos a listing has, virtual tours are nearly a necessity and video will quickly become a standard for marketing real estate across the internet.

As a seller, put yourself in the enviable position of being a buyer right now.  As a buyer, you have the luxury of simply skipping any listings that have no photos!  No photo, no reason to inquire further, there must be a problem, NEXT HOME!

Buyers looking for Ann Arbor homes listed by Team366 will not only see as many photos as our multiple list system allows (10), but they will also see a wide range of media to experience the home from their couch or desk.  Team366 utilizes virtual tours and walkthrough videos.  Buyers have commented that it helped them reach a decision to purchase, BEFORE they saw the home in person for the first time.  One couple saw their new home in daylight for the first time at their inspection because the video made them feel very comfortable!

Contact Team366 for more information on how we can push your property to all corners of the Internet.  You can also begin your search for a new Ann Arbor area home using Team366′s Search and Save System

Tags: Real+Estate, Ann+Arbor, Homes, Condos, Team366