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Scott Petersen

  • You Can Compete (and Maybe Win) vs. an All-Cash Offer.

    I have no idea where all of the cash is coming from, maybe it's the unpredictable stock market or illicit gains from an underground economy, but cash buyers (those not requiring a mortgage) currently account for a third of all home purchases.

    As a buyer who needs a mortgage to purchase a home, it will be tough for you to compete against an all-cash offer, particularly in a market where multiple offers abound. From a seller's perspective, an all-cash offer eliminates both hassle and risk, as do offers without appraisal or financial conditions, which, in a hot real estate market, can also reduce your chances of success. There are, however, I have some ways to make your offer more competitive. For example:

    Try to avoid multiple-offer situations. Easier said than done, but competing against multiple offers will be the surest way to lose to an all cash offer.

     

    Consider waiving the financing contingency clause. This is risky, but leaving out this contingency that allows you to cancel the contract if you don't receive loan approval, or if an appraisal comes in below expected value will bring your offer more to par with a cash offer.

    Increase your down payment. This is an easy tactic to show yourself as a very strong buyer to the Seller.

     

    Come with an Underwriting Approval, not just a pre-approval. Not all lenders will provide this, but those that do all you to secure a pre-underwriting letter which may make your offer more attractive. Unlike a pre-approval letter, this one has teeth. It contains deep income and asset documentation, which sellers like to see, as it means you are a serious buyer, plus it may move you through the approval process more quickly.

    Be prepared to offer a little more than a cash offer! Many cash buyers are overly confident and therefore submit unrealistic, low-ball offers. So, while cash is worth a 2 percent to 3 percent discount, sellers can be annoyed by the low bid cash offer and just might accept yours instead.  
  • Spring is heating up!

    The metro Detroit real estate market continued to improve, at a healthy level for March 2016 according to the Farmington Hills based MLS Real Comp II. Sales increased 7.2 and prices  7.3%. Inventory of on market homes are still very low, with homes priced at market receiving multiple offers within hours.  

     

    Real Comp II released the Metro-Detroit market statistics for March
    * All MLS sales for the month were up 7.2% Y-O-Y
    * The median sale price for All Realtor listed (MLS) sales was up 7.3% Y-O-Y, from $135,000 to $144,900.
    * Average Days On-Market (DOM) for All Realtor (MLS) sales was down by 2 days Y-O-Y, from 60 to 58.
    * On market inventory decreased by 6.3% Y-O-Y, from 19,413 to 18,197.
    * 94% of the on market inventory is designated as non-foreclosures and 6% is designated as foreclosures. Last year, 93% of the on market inventory was designated as non-foreclosures and 7% was designated as foreclosures.

  • January 2016 Metro Detroit Sales Report

    The January Metro-Detroit and greater area has been published by Realcomp the MLS for the area. The highlighes are that inventory is still very tight, 

     

    • All MLS sales for the month were up by 11.4% from 3,971 to 4,423.

    • The median sale price for All MLS sales was up 11.3% from $124,000 to $138,000

    • Average Days On-Market (DOM) for All MLS stayed the same at 58 days.

    • On market inventory decreased since last January by 2% from 20,260 to 19,854.

    • 94.2% of the on market inventory is designated as non-foreclosures and 5.8% is designated as foreclosures. 

    January 2016 Combined Residential & Condo MEDIAN SALE PRICE and Closed Sale Summary by: 

    County/area        Jan. 16                     Jan. 15              % Change

    Livingston          $193,950 /176         $190,000/190       2.1/17.3

    Gr. Wayne          $115,000/1013        $96,000/947         19.8/7.0

    Oakland              $190,000/1235        $175,000/1066     8.6/15.9

  • Don’t Miss These Home Tax Deductions

    Visit houselogic.com for more articles like this.

    Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

  • You may have hit the lottery!

    13 Canton, MI neighborhood roads will be repaired.  A lottery was held to determine which neighborhoods will receive the 1.5 million grant from the state to repair the pot marked lanes. The lucky winners are: Glengarry 1, Forest Brook, Meadowbrook, Century Farms, Oakvale/Stonegate, Fairways West, Willow Homes, Nowland Estates, Canton Country Acres, Huntington Place No. 1, River Woods, Salem Manor, and Royal Pointe look for road improvements this year. 

     

    http://www.hometownlife.com/story/news/local/canton/2015/01/23/canton-lottery-street-repairs-money/22203197/

  • Deal or Money Pit?

    Visit houselogic.com for more articles like this.

    Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

  • Garage Organization Ideas for Under $50

    Visit houselogic.com for more articles like this.

    Copyright 2015 NATIONAL ASSOCIATION OF REALTORS®

  • 2015 Real Estate Predictions

    With 30 days remaining of 2014, tt is that time of year when we start to review the past year and look forward to the coming year. The forecast for real estate is mostly good news: mortgage rates will inch up from their 4% range to 5%, home values will trend down but bottom out at 3% appreciation, and builders continue to forecast growth of new construction. While this is not an exuberant forecast, it seems to be a sustainable recovery.

    Article :  http://realtormag.realtor.org/daily-news/2014/11/18/5-real-estate-predictions-for-2015

  • Canton Michigan Condo Foreclosure List

    Whether you are a first time home buyer or looking to downsize, Canton Michigan Condos are a great value. Here is the most recent Condo Foreclosure List for Canton, Michigan. Bank Owned condos and real estate are selling fast, so call Scott Petersen today to make an appointment to view one before they are gone.  


    1910 OTTER POND LN. -- 2 Br / 3 Baths, 1380 SF, $124,875

    1605 COMMODORE CIR -- 2 Br / 3 Bath, 1433 SF, $125,00

    1868 MAPLE PARK DR -- 2 Br / 2 Bath, 1591 SF,  $132,100

    4153 BRIDGEVIEW LN -- 3 Br  / 3 Bath, 1670 SF, $159,900


  • Market Update for Metro Detroit

    O.K., are you ready for some good news for real estate in the Canton, Plymouth, Northville, and the Livonia area? October 2011 sales data from the local Multi-List Service was just released and there is good news. The market continues to strengthen. The long painful decline has taken a break for most markets in the Metro Detroit area. However, even though most of the news was good, the data also showed that Short Sales continue to rise. Realcomp, the local MLS reported this week that:

    • Residential and Condominium sales across Realcomp's MLS areas were up 6.1% from 4,902 in October 2010 to 5,199 in October 2011.
    • All MLS median sale price rose 8.2% from $67,000 in October 2010, to $72,500 in October 2011.
    • Of 5,199 sales closed in October of this year, 14.23% (740) were identified as short sales.

    Scott A. Petersen
    Client First, Realtors

    www.scott-petersen.com

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  • Market Update: Pheasant View, Canton MI

    Pheasant View, Canton MI

    Address

    SF

    Style

    Yr Blt

    BR/BTHS

    $

    DOM/CLSD

    $/SF

    On Market

     

     

     

     

     

     

     

    1465 CROWNDALE LN

    2653

    Colonial

    1996

    4/2.5

    249,000

    2

    93.86

     

     

     

     

     

     

     

     

    Closed Sales

     

     

     

     

     

     

     

    46512 OVERHILL LN

    3229

    Colonial

    1996

    4/2.5

    250,000

    8/31/2010

    77.43

    2024 STONEBRIDGE WAY

    3109

    Colonial

    1996

    4/3.5

    280,000

    7/2/2010

    90.06

    2012 CROWNDALE LN

    3022

    Colonial

    1998

    4/3.5

    320,000

    7/16/2010

    105.89

    2017 STONEBRIDGE

    2800

    Colonial

    1996

    4/3.5

    317,000

    6/18/2010

    113.21

    46733 SOUTHWICK DR

    3150

    Colonial

    1996

    4/3.5

    285,000

    3/15/2010

    90.47

    46585 SOUTHWICK DR

    3133

    Colonial

    1996

    4/3.5

    329,900

    4/9/2010

    105.30

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Key:

    Address – Property Address

    SF= Square Footage

    Style= Artichture (ie. Colonial, Bungalow..)

    Yr = Year Built

    BR/BTHS = Number of Bedrooms/Number of Baths

    $ = Current Asking Price or Sold Price

    DOM/Clsd = Number of days on market/ Date closed

    $/SF = Price per square foot

     

    All Data from Realcomp MLS

     

     

     

     

     

    Scott A. Petersen
    Remerica Country Place

    www.scott-petersen.com

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    --------------------------------------------------------------------------------------------------------------- 

    When you choose Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estate needs, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned "blue collar" hard work. In this difficult market, we are proven producers selling in the multi-million dollar range year after year.

     We are very familiar with today's market and specializing in Short Sales, REO, Bank Owned, and all types of real estate in  Wayne County , Oakland CountyLivingston County, and Washetenaw County we specialize in Canton,   Plymouth, Northville, Livonia and Novi.

    Disclaimer: I fully disclose that I am human and make errors, from time- to- time. Therefore, all information in this blog is deemed reliable but not guaranteed to be accurate. I reserve the right to make changes and/or correction of any information at anytime.  I make no warranties either express or implied. This blog is not intended to offer any legal, tax or other advice. Please seek permission to repost or re-blog any part of this blog.  I think this satisfies my attorney..

     

                                                                              

  • Christmas Fun

    Looking for some fun Christmas Activities in and around Plymouth & Canton Michigan? Check out the following great events:

    Greenfield Village Holiday Nights

    Holiday Nights is one of my families favorite activities. Strolling caroling choirs, traditional historical Christmas food and drink, St. Nick, reindeer, and all of the village homes decorated to their period makes this a great evening.   

    December 4, 10-11, 17-23 and 26-27, 2010 (6:30pm - 10pm)lightfest

    Pricing:
    MEMBER ADULT age 13 & up, $14.50
    MEMBER YOUTH age 5-12, $12.75
    NON-MEMBER ADULT $17
    NON-MEMBER YOUTH $15
    CHILDREN 4 & under are free

    Wayne County Lightfest

    The lightfest is a nice drive along the scenic Hines Drive, featuring 17 new displays totaling 1 million lights! While the Lightfest is impressive with it's 1 million lights, the presentation is disapointingly almost completely secular offering dinosaurs and puppy dogs, but no angels or mangers.   


    November 18 - December 31, 2010
    7:00 -10:00 pm (closed December 25) - Hines Drive
    Visit the Midwest's longest drive-through holiday light display. Four miles of colorful lights for a $5/car donation. Enter off Merriman Road, between Ann Arbor Trail and Warren Avenue in Westland. For more information on this holiday spectacular or to register a bus/limo, call the Parks office.

      

     

     

    Scott A. Petersen
    Remerica Country Place

    www.scott-petersen.com

     Facebook    LinkdIN   Twitter   QR Code

    --------------------------------------------------------------------------------------------------------------- 

    When you choose Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estate needs, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned "blue collar" hard work. In this difficult market, we are proven producers selling in the multi-million dollar range year after year.

     We are very familiar with today's market and specializing in Short Sales, REO, Bank Owned, and all types of real estate in  Wayne County , Oakland CountyLivingston County, and Washetenaw County we specialize in Canton,   Plymouth, Northville, Livonia and Novi.

    Disclaimer: I fully disclose that I am human and make errors, from time- to- time. Therefore, all information in this blog is deemed reliable but not guaranteed to be accurate. I reserve the right to make changes and/or correction of any information at anytime.  I make no warranties either express or implied. This blog is not intended to offer any legal, tax or other advice. Please seek permission to repost or re-blog any part of this blog.  I think this satisfies my attorney..

  • Glengarry Canton MI Update

    Glengarry in Canton Township MI is a single family sub that was developed by Pulte from 1991 - 1996.  

    Year to date there have been 17 homes sold. The sale prices have ranged from 219,000 - 290,000, with an average sale price of $263,082 with an average days on market of 42 days.

    Sales in Glengarry over the past 2 months are:

    45030 GLENGARRY RD,   2375 SF,    1991 YR BLT,  3BR/2.2BA,   $219,000,   9/10/2010 Closed

    45389 SEABROOK DR,     2588SF,    1996 YR BLT,  4BR/2.1BA,   $239,000,   9/29/2010 Closed

    44887 WEYMOUTH DR,   2632SF,     1996 YR BLT,  4BR/2.1BA,   $285,000,  10/22/2010 Closed

    45277 SEABROOK ,        2601 SF,     1995 YR BLT,  4BR/2.1BA,   $290,000,     09/17/2010  Closed.

     

    There are currently four houses listed in Glengarry:

    459 FAIRFIELD CT,         2895 SF,     1994 YR BLT,   4BR/2.1BA,  $239,900, 76 Days On Market

    45184 GLENGARRY RD,    2438 SF,     1991 YR BLT,   4BR/2.1BA, $259,900, 83 Days On Market

    45379 WILLIAM CT,        3053 SF,     1992 YR BLT,  4BR/3.1BA, $279,900, 76 Days On Market

    44967 WEYMOUTH,         2695 SF,     1997 YR BLT, 4BR/2.1BA,   279,900, 89 Days On Market

     

    If you are looking to Buy or Sell a home in Canton choose:

     Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estateneeds, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned "blue collar" hard work. In this difficult market, we are proven producers selling in the multi-million dollar range year after year.

     We are very familiar with today's market and specializing in Short Sales, REO, Bank Owned, and all types of real estate in  Wayne County , Oakland CountyLivingston County, and Washetenaw Countywe specialize in Canton,   Plymouth, Northville, Livonia and Novi.

    Disclaimer: I fully disclose that I am human and make errors, from time- to- time. Therefore, all information in this blog is deemed reliable but not guaranteed to be accurate. I reserve the right to make changes and/or correction of any information at anytime.  I make no warranties either express or implied. This blog is not intended to offer any legal, tax or other advice. Please seek permission to repost or re-blog any part of this blog.  I think this satisfies my attorney..

     

    Scott A. Petersen
    Remerica Country Place

    www.scott-petersen.com

  • Ring The Bells

    I really believe in the Salvation Army and their mission. I support and assist the Army in their fundraising which does many good things for our community including:

    •Providing school supplies to children of need in the Fall

    •Running a food bank though out the year

    •Providing financial support throughout the year for families that need help with rent, utilities...

    Ever wonder who the people are that are out ringing the bells? They are people like you. If you would like to sign-up to ring this holiday season and help the Salvation Army, read the Salvation Armies release below:

    "The Plymouth Corps' 2010 Red Kettle Campaign begins in only 3 weeks and we are looking for volunteer bell ringers for this year's campaign. We ring bells in the Northville, Plymouth, Canton and Belleville communities. The campaign begins on Friday, November 12, 2010 and ends on Christmas Eve. The kettles will be out from 10am to 8pm, Monday through Saturday. We ask our volunteers to sign up for a 2 hour shift. Just visit or Corps' website http://www.misalplymouth.org or http://www.ringbell.org and sign up. It is super easy and after making your selections, you will receive a confirmation email, as well as a reminder email a few days prior to your bell ringing dates."

    I will be out ringing.... Will you join me?

     

    When you choose Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estate needs, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned “blue collar” hard work. In this difficult market, we are proven producers selling in the multi-million dollar range year after year.

     We are very familiar with today’s market and specializing in Short Sales, REO, Bank Owned, and all types of real estate in  Wayne County , Oakland CountyLivingston County, and Washetenaw County we specialize in Canton,   Plymouth, Northville, Livonia and Novi.

    Disclaimer: I fully disclose that I am human and make errors, from time- to- time. Therefore, all information in this blog is deemed reliable but not guaranteed to be accurate. I reserve the right to make changes and/or correction of any information at anytime.  I make no warranties either express or implied. This blog is not intended to offer any legal, tax or other advice. Please seek permission to repost or re-blog any part of this blog.  I think this satisfies my attorney

  • October 2010 YTD Sales Data

    Realcomp MLS has release the sales data statistics for the month for Metro Detroit. If you find stats and numbers interesting this may be of interest to you.  The official analysis release states:

     

    MEDIAN SALES PRICE CONTINUES CLIMB WHILE ONMARKET INVENTORY LEVELS DECREASE FURTHER

    PRICES BUOYED BY HIGH NONFORECLOSURE SALES.

     

     

    • Onmarket inventories continue to decline in most areas
    • NONforeclosure sales outpaced foreclosure sales (3,127 nonforeclosure sales vs. 2,095 foreclosure sales)
    • Average days on market decreases include: ALL MLS decreased by 9 days to 94; Metro Detroit decreased by 11 days to 90.

     

    48187 CANTON, Michigan   has 232 active homes for sale on market.  Homes sold YTD: 369,  which is a -2.08 year over year.  The median sales price is $144,900, which is a - 15.05% year over year.

     

    48188 CANTON, Michigan  has 276 active homes for sale on market. Homes sold YTD: 428, which is a 13.64 increase year over year. The median sales price is $164,780, which is only a - 2.3 %, year over year.

     

    48170 PLYMOUTH, Michigan  has 257 active homes for sale on market. Homes sold YTD: 345, which is a -11.36 % decrease year over year. The median sales price is $179,250, which is a + 14.00 year over year!

     

    When you choose Scott Petersen and The Petersen Team to handle your Canton/Plymouth real estate needs, you choose a  Realtor® who is not just an expert, but someone who really cares about you and your family. Buying or selling a home can be a very exciting and yet stressful. We will work to achieve your goals and objectives, bringing our years of industry expertise and old fashioned “blue collar” hard work. In this difficult market, we are proven producers selling in the multi-million dollar range year after year.

     We are very familiar with today’s market and specializing in Short Sales, REO, Bank Owned, and all types of real estate in  Wayne County , Oakland CountyLivingston County, and Washetenaw County we specialize in Canton,   Plymouth, Northville, Livonia and Novi.

    Disclaimer: I fully disclose that I am human and prone to errors, from time to time. Therefore, all information in this blog is deemed reliable but not guaranteed to be accurate. I reserve the right to change, make corrections, and changes of any information at anytime.  I make no warranties either express or implied. This blog is not intended to offer any legal, tax or other advice. I think this satisfies my attorney J.

     

    Scott A. Petersen
    Remerica Country Place

    www.scott-petersen.com
    spete05@gmail.com

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