My Blog

Market Statistics for August 2020

9/8/2020

Below are the residential statistics for Marquette County for the month of August 2020.

Marquette County
122 Properties Sold
Median Sale Price: $168,000
Average Sale Price to List Price Ratio: 97.8%

Within the Marquette School District
49 Properties Sold
Median Sale Price: $245,000
Average Sale Price to List Price Ratio: 98.4%

Within the Negaunee School District
18 Properties Sold
Median Sale Price: $141,450
Average Sale Price to List Price Ratio: 96.8%

Within the Gwinn School District
15 Properties Sold
Median Sale Price: $165,000
Average Sale Price to List Price Ratio: 96.6%

Within the Ishpeming School District
17 Properties Sold
Median Sale Price: $90,000
Average Sale Price to List Price Ratio: 97.8%

Within the NICE School District
12 Properties Sold
Median Sale Price: $147,500
Average Sale Price to List Price Ratio: 97.4%

Within the Powell Township School District
4 Properties Sold
Median Sale Price: $110,000
Average Sale Price to List Price Ratio: 96.1%

Within the Republic-Michigamme School District
6 Properties Sold
Median Sale Price: $132,475
Average Sale Price to List Price Ratio: 96.0%

Within the Wells Township School District
1 Property Sold
Sale Price: $320,000
Sale Price to List Price Ratio: 97.3%

Market Statistics for July 2020

8/12/2020

Below are the residential statistics for Marquette County for the month of July 2020.

Marquette County
108 Properties Sold
Median Sale Price: $116,750
Average Sale Price to List Price Ratio: 96.7%

Within the Marquette School District
50 Properties Sold
Median Sale Price: $213,200
Average Sale Price to List Price Ratio: 97.8%

Within the Negaunee School District
13 Properties Sold
Median Sale Price: $161,000
Average Sale Price to List Price Ratio: 96.9%

Within the Gwinn School District
21 Properties Sold
Median Sale Price: $145,000
Average Sale Price to List Price Ratio: 96.8%

Within the Ishpeming School District
10 Properties Sold
Median Sale Price: $110,000
Average Sale Price to List Price Ratio: 99.2%

Within the NICE School District
8 Properties Sold
Median Sale Price: $170,500
Average Sale Price to List Price Ratio: 95.2%

Within the Powell Township School District
2 Properties Sold
Average Sale Price: $169,500
Average Sale Price to List Price Ratio: 97.1%

Within the Republic-Michigamme School District
3 Properties Sold
Median Sale Price: $98,000
Average Sale Price to List Price Ratio: 78.9%

Within the Wells Township School District
1 Property Sold
Sale Price: $118,600
Sale Price to List Price Ratio: 95.0%

What's My Home Worth?

7/28/2020
If you are interested in finding out what your home might be worth in today's market, CLICK HERE. By typing in your address you can get a range of values from three independent online estimators. While this might be able to give you an idea of what your home might be worth, you may also see large variations in price ranges and some may be drastically different. The best way to get an accurate idea of your home's value is to have a licensed real estate professional prepare a comparative market analysis for you. However, this link is a quick and easy way to get a rough idea. If you have questions on the results, please reach out to me at 906-236-3750. I'd love to discuss it with you and see what current comparable properties are out there that these online estimation sites do not have access to!

Market Statistics for June 2020

7/8/2020

After the COVID-19 shutdown things picked up quickly when real estate was permitted to resume in May. Read on to see the residential statistics for Marquette County for the month of June 2020.

Marquette County
58 Properties Sold
Median Sale Price: $180,250
Average Sale Price to List Price Ratio: 97.4%

Within the Marquette School District
31 Properties Sold
Median Sale Price: $224,900
Average Sale Price to List Price Ratio: 98.2%

Within the Negaunee School District
10 Properties Sold
Median Sale Price: $149,500
Average Sale Price to List Price Ratio: 96.4%

Within the Gwinn School District
5 Properties Sold
Median Sale Price: $215,000
Average Sale Price to List Price Ratio: 98.5%

Within the Ishpeming School District
5 Properties Sold
Median Sale Price: $123,500
Average Sale Price to List Price Ratio: 97.9%

Within the NICE School District
3 Properties Sold
Median Sale Price: $90,000
Average Sale Price to List Price Ratio: 96.3%

Within the Powell Township School District
2 Properties Sold
Average Sale Price: $148,200
Average Sale Price to List Price Ratio: 94.2%

Within the Republic-Michigamme School District
2 Properties Sold
Average Sale Price: $119,500
Average Sale Price to List Price Ratio: 92%

It is anticipated that the July statistics will show an increase of properties sold in all areas of the county. If you have questions about days on market or other statistics that may affect how long a home takes to sell, please reach out to me at 906-236-3750. I would be happy to discuss any questions you have!

Mortgage Rates at Record Lows!

7/3/2020

This past week the 30-year fixed mortgage averaged 3.07%, which is the lowest ever recorded by Freddie Mac since it began tracking this data in 1971. For 30-year mortgages, rates are 0.625% lower than they were a year ago at this time (and they were considered low then)! What does this mean for buyers? It means that you will likely be able to buy more house for your monthly payment. Even though the focus is often the purchase price of a home, the reality is that you live in the payment, not the purchase price. 

If you are not sure how much you can afford, please reach out and I will gladly connect you to fantastic local lenders who will be able to help you understand what price range you can be house shopping in. These lenders have multiple mortgage options, including options with a minimal down payment. 

It is amazing how quickly listings in Marquette County are getting accepted offers. Several listings are pending within 24 hours of hitting the market. Rates are very low right now but it is important to be ready to go if you find the right house for you. Talk to a local lender (call me for suggestions if needed!), connect with an agent (buyer's agents work for you at no cost - see my post on Buyer's Agents for more info), and schedule a showing right away when you see a house you'd like to look at!

I'd love to work for you to help you get the home you desire. Take advantage of these record low mortgage rates today and call me at 906-236-3750 to discuss how I can help!

Have a safe and happy Independence Day!

Thinking of Buying a Home?

6/16/2020

If you are thinking (or dreaming) about buying a home at some point in the future, there are steps you can take now to make sure that can happen! The first piece of advice I always give buyers is to reach out to local lenders. There are so many loan types and lenders can explain all of them to you so you can see what might work for your circumstances. Perhaps your credit score isn't the best or your debt-to-income ratio is higher than you'd like... guess what? There are home buying options for you, too! If nothing else, lenders will be able to give you some tips on things you can do to improve credit score or reduce your debt-to-income ratio so that you will be able to qualify for a loan in the future. Many lenders offer down payment assistance programs also. 

We are blessed with FABULOUS local lenders in this area. If you aren't sure who you should call, reach out to me and I will be happy to refer you to some great lenders so you can discuss your options. Don't put this off - the sooner you talk to a lender the sooner you can make your home buying goal a reality!

Back to "Normal"

6/12/2020
Real estate has been back in action since May 7, 2020 and market activity has been high. There have been several new listings in the past month that were pending within a few days of being listed, many of which had competing offers. Rates are still great for buyers, allowing them to get more house for their monthly mortgage payment. Sellers are getting more activity on their homes, increasing the likelihood of the right buyer coming through. If you are looking to buy or sell, please call me today. I am fortunate to have a full time assistant who primarily works in the office so that I can spend more time directly with my clients. Karen and I work to provide the best customer service we are able to help you accomplish all of your real estate goals!

Real Estate Permitted to Return to Business May 7, 2020

5/6/2020

Beginning tomorrow, May 7, 2020, real estate showings may resume. Please know that this will be done with extreme caution. With Michigan's Stay at Home order still in place, I am taking the utmost caution to protect my clients, myself, and all involved. Showings will be limited to no more than four people total and buyers must be pre-approved with a lender for me to even schedule the showing. Masks will be worn and disinfectant wipes will be used on doorknobs, lockboxes, etc... Through it all, we will maintain a minimum distance of six feet apart. Sellers will be expected to leave lights on prior to showings so that light switches do not need to be touched. We will minimize contact while still allowing people to accomplish their buying and selling goals. 

If you are looking to buy, get preapproved with a lender! Rates are excellent right now and I believe there will a flood of new listings in the next few days. Be prepared in case you see one you'd like to take a look at in person. 

If you are considering selling, call me and let's chat about how this will work. I'm not sure we'll see the "normal" we once knew for a while yet, but until then, I still can help you safely sell your home. 

No matter what, I want my clients to be comfortable. We will make sure to protect everyone involved to the best of our ability. My assistant and I will serve you from start to finish the best we are able. Allow us to work for you to accomplish your real estate goals! Call me anytime at 906-236-3750.

Benefits of a Buyer's Agent

4/17/2020
The process of purchasing a home goes far beyond the initial online search of homes you think you like. It is important to have a licensed REALTOR representing you as a buyer's agent. This is perhaps the only time that you will ever have someone work for you where someone else pays for it! In most real estate transactions it is the seller who pays commission, so having a buyer's agent benefits you in that way as well. As your buyer's agent, I will:
  1. Save you time and money
  2. Turn information into knowledge
  3. Find comparable properties to evaluate listing prices
  4. Act as your personal secret shopper
  5. Provide perspective to help make smart decisions
  6. Negotiate with experience and skill
  7. Have exclusive fiduciary responsibility to YOU!
Even now, with the COVID-19 shutdown, there is so much that can be done to help you find the right home. Call me today and I would love to explain to you the entire home buying process... from viewing homes to writing an offer to the inspection, appraisal, and beyond! I'd love to talk to you now and hear what type of home you are looking for and what your timeline is. I have tools at hand that can help with this as well. Once I know your criteria I can set you up on a saved search so that you are notified the very moment a new listing hits the market that meets your criteria. Call me today and I will help you accomplish all your real estate goals! 906-236-3750

Stay Home, Stay Safe

4/3/2020

In compliance with Michigan's Stay Home Stay Safe order, I am not showing properties or meeting face to face with clients at this time. However, I am working with my buyers and sellers so that we are ready to go when we are able to. If you are considering selling your house or property later this spring or summer, NOW is the time to discuss this! Call me and I will explain the selling process to you! We can discuss your goals and I can explain how my assistant, Karen Bruce, and I work together to serve YOU the best we are able to! Let me answer your questions so you are ready to go and know what to expect when the time is right.

If you are looking to purchase a home later this spring or summer, please call me so I can help you understand the complete home buying process. It goes far beyond seeing a house you think you like online! I can explain how it is advantageous for you to have a buyer's agent working for you (it does not cost anything to have a buyer's agent as the seller pays commission on MLS listings). In addition, you can share with me what you are looking for in a home and I can set you up on a saved search so that you are immediately notified when a new listing that meets your criteria hits the market! In a competitive market, this is a huge advantage. 

Whether looking to buy or sell, I am here to serve you. I would love to hear from you and answer any questions you may have. Give me a call at 906-236-3750!

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