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Annual Lake Shannon Labor Day Brunch

Mom and Sylvia Cole only had each other as baby-sitters back in the early days of Lake Shannon. Now 5 decades later, they have each other as friends.


Thanks to Coles for hosting.


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Buyers/ Sellers, ask me about ‘Pocket Listings’

‘Pocket Listings’ are those that are marketed in controlled way. A good agent does this to the attempted benefit of the seller. When, how, and why is what we’ll look at.

‘Why’ is of greatest concern to the seller:

  1. A quote in USNews said: ‘… pocket listings can be a great way for agents and sellers to achieve a fair deal with less interruption in the seller’s life.’
  2. The article further goes on: ‘…Pocket listings can serve as a great option for selling your home, as it limits the pool of buyers to those potentially willing to pay a premium for the ability to bid on the home before it reaches a broader market.’
  3. Perhaps you are away seasonally and don’t want easy public access to your address, or quick access to the home for unrestricted showings.
  4. You may be known in the area or have tenants inside and want a more controlled access.
  5. Pre-launch prep may still be going on. You are still making the home optimal for showing and know it also takes awhile for an agent to get their full marketing in place, but don’t want to miss someone that may come along now.
  6. You may wish to ‘test the market’ and not add all the specifics to the MLS sharing sites.
  7. MLS ‘data share’ sites can show a listing ‘stale’ in short order. They also will show each time you change price. They show ‘time on market’. They show recent changes of listing offices.
  8. What do you want to highlight to buyers … and NOT highlight ?

While there are times to certainly not, there are many reasons I often use this technique.  Anibal-Affiliates-RealtyNetWorth-LakeShannon-duck-on-the-lake-dont-quack-up-2

  • MLS forwards to Realtor.com and the other ‘standardized’ magazine sites. There the marketing is very generic. There is no choice in what is or isn’t highlighted.
  • HIGHLIGHTING: For instance, can you highlight that 1 great panoramic view photo above the others? Or are all photos standardized?
  • DATA: If you’re flipping or had recent buy/sell, re-list situations, do you want what you paid for the house on the same page as your ask price? If you home has recently dropped in value, a buyer may get scared away thinking ‘why?’. A big jump? What does that tell the prospective buyer?
  • ONE ON ONE PITCH: Wouldn’t you rather have your home showcased by itself instead of with a map of all the other area homes/ their prices/ etc.?
  • TIME ON MARKET: Perhaps you list in spring, then still marketing as your property market type cools down. So you make changes to the property &/or price. But, the world sees ‘time on market’. So what? Well, often buyers and agents get emails or sort by ‘newest first’. Those ‘old listings must have something wrong with them’.
  • PRICE ADJUSTMENTS: You may want to start at a lower price while you wait for the contractor to come and gut the lower bath, at which point you will be upping the price. Do you want Zillow to show that you increased the price (with no reason shown)?  Or, you may starte at one price, then found your perfect replacement house – now that you’ve found it, you want to drop the price and ‘kick it to the curb’. Those price adjustments are available to everyone in the MLS including the online sites and the agent. Do you think they will say ‘wow, these folks are desperate, lets low ball them!’? Really, website ‘price history’ changes don’t tell the whole story.
  • THOSE NOSEY NEIGHBORS: Standardized MLS input forms will penalize the agent if they don’t input all the ‘fields’. You may wish to market you home for a bit without pricing. Maybe you want to show a real buyer the whole house, but want certain area photos password protected – accessible only by agents or buyers that have proven funding ability to purchase.
  • OPTIONS: Finally, there are a host of customizations available due to a sellers unique situation. Only you may know what these are. Sign/or not, show address in ads/or not, show outside photos to public/or not. You get it. Have your show publicly as ‘pending’ before its a solid deal can halt the flow of interest – showings – and ‘backup’ offers.

How:Anibal-Affiliates-RealtyNetWorth-LakeShannon-duck-on-the-lake-dont-quack-up

  • Use a broker, that’s local, non-franchise.

Recently, a client of mine received an unsolicited mailer from a competitor agent/broker that said ‘… according to the MLS, your home is not for sale.’

Don’t be fooled by naysayers or articles you’ve seen via Realtor.COM / Zillow / Trulia and other sites. They earn huge advertising $$’s from ‘redirect’, ‘premier agent’ fees, and selling leads to realty offices. Its no longer 1975 when MLS was ‘king’. Its also no longer ‘2005’ when no one knew how to ‘do it better’ and by-pass these sites – when it better serves the client.


Caveat:  Realize that not all ‘sold’ info numbers show up online hence the computer value models can have huge margins for error. Make sure your agent will ‘co-operate’ with other offices to allow access with a shared commission arrangement as you negotiate.



 

The Power Turn – not for show! (or, don’t try this at home).

What:Anibal-Affiliates-RealtyNetWorth-LakeShannon-barefooter-with-helicopter

  • The quickest why to spin an inboard ski boat 180 degrees just like a jetski, Seadoo, or other PWC. If pulling skier, you’re using a center mounted ski tow bar.
  • This was the traditional opening of many ski shows. Two boats driving toward each other, they pass, spin, and pass again.
  • https://www.youtube.com/watch?v=5G0fMUONHdg

Why:

  • This is the technique to get back to a skier asap if they take a bad spill.
    • I’ve used it to get back to a jumper that hit the safety wall, one that had his helmet cover his face after ‘fanny dunking’, and as a quick pickup to a stroke victim that didn’t want to give up skiing (we decided to retire dad’s slalom after his first fall) .
  • “…. If you have to return to your fallen rider quickly because they appear to be injured or in distress, a power turn may be the best way to get there quickly.
  • You might also have a situation in which your rider appears to be in danger because of approaching boat traffic that would require you to get back to him or her quickly.
  • In these situations, power turning is not only acceptable, but probably a good idea….”

How:

  • Get up to enough speed to spin the boat…if you are a rookie, start slow. You will however need enough speed to make the boat be able to actually spin
  • Cut the throttle while spinning the wheel hard and quick
  • Then after the spin hit the throttle quickly enough or the displaced water will swamp the rear end passengers …and your boat. If you simply spin it and don’t accelerate out of ‘the hole’ the boat will rock. If you sit in ‘the hole’ with too much of a load, you’ll take on water – believe me I’ve done it!

Caution:

 


This is not an offer of a guaranteed return. Always do your due diligence before investing.

7487 Ore Knob Dr, Fenton, MI 48430

The person wanting to see the $399k house at 7487 Ore Knob Dr, Fenton, MI 48430 please provide Anibal-Affiliates-RealtyNetWorth-LakeShannon-why-I-sell-lakefront-rowboat-by-dockyour contact information. Thank you.



This is not an offer of a guaranteed return. Always do your due diligence before investing.

Real estate bubbles, strategies, and the current lakefront market

Are we in a bubble market ? Lakefront property is its own animal. Further, some what Anibal-Affiliates-RealtyNetWorth-LakeShannon-why-I-sell-lakefront-young-couple-at-sunsetan investment, some just a nice home, others a short-term home/investment combination. I see all of these as buyers, sellers, and investors here where I live and approach each customer/client differently. With lakefront, you can enjoy the experience of the water AND make a few bucks with your venture. Recently I’ve seen markups from $130 to $280k, $125 to $400k, $235 to $530k, and $375 to $899k – all with varying degree of investments of time and $’s.

Just read from one of my favorite bloggers who boasts: “15 flips currently in progress. 126 flips completed. 15 rentals properties. Follow me to see how I make money in any market cycle.” So here’s the excerpt & my ‘reply’:

  • “…Low-money-down loans have been available for decades, and that is not what caused the housing crash. Really bad loans to people who should not buy houses is what caused the housing crisis. …”
  • reply: I’m presuming this is a ‘cliff notes’ take on the market since we can’t dispense all knowledge in a post. But my quick 2 cents. As a 2nd generation broker/investor/finance degree holder, bad loans where just a part of the problem. We had funds flowing out of other ‘under performing’ investments…e.g: $’s tend to move from CDs to collectables to stocks to real estate, etc. Further, and this makes the topic more of a localized thing, wages must support prices. Las Vegas had speculators running up prices but buyers weren’t all from out of town so prices couldn’t be sustained. Here in NW Detroit suburbs, we are seeing a lot of new industry coming in and hence price strength above what might be healthy in other parts of MI.

The article goes on to say how the market is not at a bubble stage. I think that greatly oversimplifies. So whats the point I’m making? As in Ecclesiastes 3 “To Everything There is a Season.” With-in 30 miles of each other, I have client investments of which 1 area I feel should be liquidated asap as the appreciation has come fast and peaked, the other could be held for a taxpayer that needs deferred income and no cash flow now, but if cash flow is needed move on. In other words:

  • Look at: investor needs (cash, retirement savings, …)
  • Investor tax situation
  • Investor has more time and abilities or more cash to throw at the portfolio mix
  • General economy but also local economic outlook…. very important.

This isn’t like buying a candy bar.



This is not an offer of a guaranteed return. Always do your due diligence before investing.

For Sale –

A few of the active offerings currently here at the lake. Some are not shown for various reasons.

  • On water homes from about $450-900k. Off water homes and off-water lots also available.

If you’d like a closer look or further information about buying or selling here at the lake, let’s schedule a time and day you can stop by my lakefront home office.

Lake-Shannon-net-Anibal-Affiliates-RealtyNetWorth-2017-06-22



The Boat Launch Blues …. don’t be a victim!

Lakefront property owners, its easy to forget the basics.

  1. Put the plug back in BEFORE dropping boat in the water.
  2. Make sure strap it tight holding the boat on the trailer.
  3. Set the parking brake AND put vehicle in park on the launch site. E-Brake first if you want to save your transmission stress.
  4. Before ‘firing’ up the boat, check your fuel lines for age/cracks, tight battery connections (no sparks), bilge is dry/drained, and inboard hood is UP/OPEN.
    • NOTE FOR PWC owners – treat your PWC like an in-board. Folks have blown these up sending the rider straight up then down with tragic endings.