This is NOT hard...........I am not a math person, and I have found this easy to use. It helps when listing homes to be able to tell a seller a resonable time to get the home sold.

1. Days on Market (DOM) 

• sellers need to know how long it is going to take their home to sell
• Knowing the days on the market is critical for you as a Realtor to know how long it takes for each area in your community to sell.
  
• Days on the Market gives your sellers realistic expectations. 
  

In Ann Arbor the Days on the Market can not always be accurate.Therefore it is important to look at the history to see if it was listed again, withdrawn or re-listed.

Some agents withdraw and re-list, right?

So how can you know what the real number is?

This is a formula that I obtained from Mike Jones and it is easy to follow.

Just use the absorption rate to calculate the true DOM for your area.

Here's how you get the real days on the market for your sellers.
Find out how many homes sold in your market last year and how many are currently on the market.

• For example, if 50 homes sold last year, and there are currently 100 on the market, what those numbers indicate is that the inventory turned twice last year (50/100= 2.0). There are twelve months in a year, and 12/2.0 = 6.0, which is the absorption rate, meaning that the average time actually on market is 6.0 months.
  
• So to convert the absorption rate to days on market, you simply multiply this last number by 30 (6.0 x 30 = 180). 

If you figure DOM this way, you'll eliminate all manipulation in your market by builders and agents who re-list stigmatized homes, which of course are those homes that have picked up a negative image due to their excessive time on market.

Drill this down for the house that is located in a neighborhood the home is selling in.

2. Average Markdown (List to Sale Ratio)

• You need to be able to advise your client as to the amount of negotiating occuring in that market. Let's assume that the average listing price is $200,000, and the average sale price is $175,000.
  
• subtract the average sale price from the average listing price, and then divide the difference by the average listing price.

$200,000 - $175,000 = $25,000

$25,000/$175,000 = 15% markdown aproximately.

In other words, your client should understand that it's normal in your market to expect a markdown (or discount) of 15% from the listing price.

• This prepares your sellers for what the offers might come in at.
  
• When you receive and offer you will be able to negotiate with the understanding if it is within the guidelines of that neighborhood. 
• By going over this at the beginning your sellers will know the List Price is not the offer or sales price.

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

9640 Albany Ct in Saline, MI is OPEN tomorrow from 2-4.

• custom crown moldings
• picture moldings
• 1st  floor study with french doors and hardwood floors
• professionally finished lower level
• kitchenette
• bed, bath, study in lower level
• insulated basement walls, energy efficient
• formal living and dining rooms
• spa tub in master-suite
• vaulted ceilings in master retreat
• finished bonus room
• 1.30 Acre, cul de sac lot
• professional landscaping with sprinklers, lights
• stamped concrete patio
• fire-pit
• beautiful, well groomed lawn.

9690 Albany Ct in Saline, Mi MLS Listing

Virtual Tour

Hosted by Kim Johnson, Buyer Agent, Missy Caulk TEAM.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Title Insurance in Ann Arbor

When you buy or sell a home in the Ann Arbor Area, you need title insurance. You need to read it and understand it.You need an attorney to review it for you, if you don't understand what is covered, and what are exceptions.

In Ann Arbor, the seller buys 1/2 of the title insurance based on the sale price of the house.

The buyer purchases title insurance on the mortgage amount.

Last Friday I attended seminar sponsored by the new Washtenaw Council of Realtors, formally Womans Council of Realtors.

The panel was composed of Scott Broucher of Absolute Title, Debbie Ellison of American Title and Gary Selesko  of Cislo Title.

They opened  by saying this seminar is going to be Title Insurance 101, I thought "oh great, I got up early for this."

However the panel did not disappoint.

Short Sales and Foreclosures

One thing I learned for people buying a short sale or foreclosure in Ann Arbor is to make sure you obtain your own title policy and NOT TO DEPEND on the BANK to give it to you or for it to be clean title work.

One of the local Ann Arbor Realtors who sold 187 foreclosed properties last year said she could not believe the number of "supposed buyer agents" NOT asking for or ordering Title Work on a foreclosed home. Weeks later they would call her and ask for the title work.

The bank provided NONE.

Just because you "close at a title company" doesn't mean you got title insurance. Even if you did receive it your policy could be so vague as to give you no protection at all. Of course we have lenders that want to see it, but if it is a cash deal you don't have to have a title policy.

Example

Case in point, my daughter a buyer agent on the Missy Caulk TEAM was selling a foreclosed property in a new construction community in Belleville. She kept asking the listing agent for the title work, he kept saying it was fine and that he would get it we never did. So she ordered it herself from a local Ann Arbor Title Company.

You should have seen the liens from taxes, home owner association, contractors and utilities.

It took us 9 months to close this home because all the liens had to be waived or payed to get a clean title policy. Now what if she had waited or not ordered it for her own buyer?

What if you were that buyer and tried to sell in a few years and found out all those liens had not been taken care of when you purchased?

Attorney Review

If you are buying a home in Ann Arbor Area, especially if it is a short sale or foreclosure, INSIST your agent get your title work from a local company with enough time to review and have an attorney review.

On short sales or foreclosures I insist my team ALWAYS have the buyers pay for attorney review. If you are buying a distressed home, you are getting that home most likely under market value. That is a good thing.  So spend the extra $250.00 for an attorney to review. It will be money well spent.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Saline Recreation Center in Saline, Michigan always has the best classes. It was remodeled last year and I love the work out room. Well don't love the work out but the room sure is nice.

The membership plans at Saline Recreation Center are very affordable and if you renew before your membership expires you can save. Ask me if I did it this year?

No I forgot.

December was really busy in real estate which is rare in Michigan.

Carla Scruggs in the Saline Rec. Director, and she has always been forward thinking and makes it run smooth.We are always notified via email of any issues with the pool or closings.

Ok here are this weeks classes.

 
YOUTH DODGEBALL
Wednesdays, January 20 - February 24
Get ready to dodge, dip, dive, duck and DODGE!  This fast paced program takes place on Wednesdays from 3:10-4:10pm for 5th & 6th graders and 4:20-5:20pm for 3rd & 4th graders.  The registration fee is $40 Rec Center members/$50 non-members.  For more information, contact Saline Parks & Recreation at 429-3502. Youth Dodgeball
 
ADULT  DODGEBALL LEAGUE
Wednesdays, January 20 - February 24
This is a fun league that anyone can play in!  Get your friends and co-workers together and sign up today.  The league takes place on Wednesdays from 6-7pm.  Anyone 16+ is eligible to participate.  The registration fee is $225 per team.  For more information, contact Saline Parks & Recreation at 429-3502 or email slambert@cityofsaline.org.  Adult Dodgeball
 
SYC ANNUAL MIDDLE SCHOOL OVERNIGHT LOCK-IN
Friday, January 29 - Saturday, January 30
9:30pm-6:00am
This annual lock-in is for youth in grades 7-9.  We'll have gym games, inflatable obstacle course, wallyball, swimming & pool games, card tournaments, music & dancing, movies, video games, prizes and lots of food.  Preregistration is mandatory.  No walk-in registrations allowed.  Must register by 5pm on January 29 or sooner if it sells out.   The cost is $20.  For more information, contact Saline Parks & Recreation at 429-3502 or Jody Roberts at jroberts@cityofsaline.org.
 
MEMBER APPRECIATION NIGHT
Saturday, January 30
6:30-9:00pm
The Recreation Center is opening its doors for members only on Saturday, January 30 from 6:30-9pm.  The entire facility, from the fitness rooms to the aquatic center, will be open with special activities for families and individuals.  Best of all, it is FREE!  For more information and to RSVP, contact Saline Parks & Recreation at 429-3502.
 
 
FEBRUARY DATES TO REMEMBER
 
Feb. 8             New session of swim lessons begin this week
Feb. 10           Composting 101 (6-7:30pm)
Feb. 11          Valentine Date Night for Parents - Kids Night at the Rec (5:30-10pm)
Feb. 12           Fun Days - no school (7am-6pm)
Feb. 12          15th Annual Daddy Daughter Dance (6-7:30pm)
Feb. 13          15th Annual Daddy Daughter Dance (6-7:30pm)
Feb. 13           1st day Abrakadoodle Doodlers class (10-10:45am)
Feb. 14          New session of fitness classes begins this week
Feb. 15           Fun Days - no school (7am-6pm)
Feb. 15           1st day Fly Fishing Round Table (7-9pm)
Feb. 16          Superhero’s in Training (12:30-1:15pm)
Feb. 20          Saline Area Hoop Shoot Competition (9am-1pm)
Feb. 20           1st day Pee Wee Sports Clinic (10:30-11:15am & 11:30-12:15pm)
Feb. 22           Early Bird Adult Softball League sign-ups begin
 

REGISTRATION INFORMATION
For more information or to register, contact Saline Parks & Recreation at:

734.429.3502, 1866 Woodland Drive,Saline, MI 48176

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

2916 Sharon in Ann Arbor, Michigan open Sunday from 2-4

2916 Sharon is located off of Platt Rd on a tree lined street on a bus route with shopping, groceries and close to University  of Michigan.

Priced to sell at only $125,000.

This home features a new deck, 2 car garage, full basement and hardwood floors throughout.

Virtual Tour of 2916 Sharon, Ann Arbor, Michigan.

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

Search Ann Arbor Area MLS

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Do you use a lot of Google products?

Most of us do...did you know you can find out everything you have stored by going to Google Dashboard?

I'm not going to go into eveything you can see because that is the point of the video, but you can access all the information in one place.

If you use Google docs, reader, gmail, YouTube, Alerts, Calendar, Chat etc...

Of course you can manage your privacy setting there, and Google only stores what you haven't put at private.

Google dashboard was released in November but I have not had a chance to look play with it.

The video is easy to follow to check out your Google Dashboard and see what all you are storing and change some things if need be.

**********************************************

Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Recently Bob Stewart challenged us to write on lead conversion. In his oh so tactful way he said getting results from leads is usually not the results of the leads but how you follow up the leads.

"I get so sick of hearing people say that 'the leads sucked'. They didn't suck, you sucked. I know it's harsh, but it's the truth. How do I know this? I've seen hundreds of agents work the exact same leads with huge variations in success. The leads were always a constant, the only variable was the person working the leads."

Well I may have said it... more tactful but I have to say I agree.

In fact I have posted on making the first call count. You only have a few seconds to connect in a meaningful way with a person on the other end of the phone or via email. Some agents are better at this than others.

For example, when my daugher calls leads she is NOT trying to sell them ANYTHING. 

She is just trying to connect with them in a meaningful way, be helpful, talk MI football or something of commonality.

She has the ablility to make people relax and let them set the pace of the relationship. Not every person searching for homes is ready to buy right then, the next day, the next week or the next month. But, they will buy from someone, why not you?

My good friend, Cyndee Haydon that I met here on Activerain, just sent me an email called 12 is the Magic Number in Marketing.

The National Sales Executive Association recently reported the following:

• 2% of sales are made on the 1st contact

• 3% of sales are made on the 2nd contact

• 5% of sales are made on the 3rd contact

• 10% of sales are made on the 4th contact

• 80% of sales are made on the 5th - 12th contact

Most people give up after one phone call or one email. "These leads don't work." "These leads are bad."

"NO"

They are not bad, you are just giving up too quickly. Look at that number 80% of all sales are made on the 5th-12th contact.

In the book, "What Americans Really Want...Really by Dr. Frank Luntz, he states, "Consumers are less trusting than any generation since the Great Depression. This means we must work harder to build relationships with our prospects because they do not trust us. Relationships take time to develop. You won't be able to make one or two phone calls and sign a new client. Those days are over. To be successful today, you must have a long-term follow-up campaign, providing multiple touches to your database.

Recently I posted here on Activerain that your old leads are your best leads. 

The question I leave you with concerning lead generation is "Are you leaving business on the table?" "Are you making one contact and moving on to the next?" "How many times are you "touching that client?"

Tonight at my team meeting we reviewed last years data and everyone on my team agreed it took more than ONE contact to build trust, establish a relationship and find them a home.They all agreed usually 5-12 contacts.

I have been active in lead generation for longer than I have been blogging on Activerain.

My main site to search for homes in Ann Arbor Area is SearchAnnArborHouses.com. It is a Tiger Lead Site, that we close over 60% of all our homes from. The back end Rocks!

It is tied into our Ann Arbor Area MLS and when a person registers, they can save their search. Then when a new listing comes on the market they are automatically sent that new listing. (They all think we are sending them)

When a listing comes up the buyer gets the new listings. The buyer agents gets a email or txt they logged back on. We can tell how long they were on and what homes they looked at. Cool, huh?

"For other methods of converting internet leads, be sure to check out giftofshift.com/activerain where you can purchase a limited edition hardcover of Gary Keller's book SHIFT, which comes with a free version of the eBook Soci@l: Attract Friends, Followers and Connections to Your Business, written by Ben Kinney and Jay Papasan (in which Ben shares his 'ten days of pain' lead conversion method) as well as free audio versions of Millionaire Real Estate Agent and Millionaire Real Estate Investor all for $19.99."

I'm not going to say 10 days of pain like Ben Kinney suggests is the ONLY way, but I am going to say that most of you are giving up too quickly.

I just had my Search Ann Arbor homes site linked to my fan page on Facebook. Put your main search site everywhere. Track where they are coming from and don't give up on them, build trust and stay in touch.

Flickr Credit

Saline Real Estate year in review, is a graph that you can play around it. I posted on how to use the graph yesterday when I did the Ann Arbor year in review.

Since the chart is interactive you can move the lower portion with your cursor and move the graph one month at a time.

At the top of the chart just simply lay your mouse over the date and the exact average price point will pop up.

In January the average price point was $285,950 with 212 homes on the market. We are ending the year in Saline Michigan with an average price of $280,084. with 193 homes on the market.

Have fun checking out different dates, and the inventory.

You can subscribe to monthly reports for Saline on the right side or on Ann Arbor Real Estate.

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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders

Below you will find an interactive chart for Ann Arbor Real Estate. This is just Ann Arbor and it's zip codes, not the entire Washtenaw County Area.

Since the chart is interactive you can move the lower portion with your cursor and move the graph one month at a time.

At the top of the chart just simply lay your mouse over the date and the exact average price point will pop up.

Example, in on October 23rd, the average price was $ 307,926.92. This was the peak of prices in Ann Arbor.

$271,917.86 was the median price in January 09, with 623 homes on the market. The peak of the inventory was in July with 809 homes on the market.

Well I don't want to take away all the fun, so go play with the graph. Let me know what you think and if you would like a market report delivered to you monthly just sign up in the right side. You can choose any zip code or all zip codes for Ann Arbor.
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Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

• Free Home Evaluation

• Search the Ann Arbor Area MLS.

• Google Profile

• Market Reports in Real Time Updated Weekly

• Profit from Technology for Realtors and Lenders