The Reinhart Blog

“Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014…” states CoreLogic, with their latest Equity Report revealing that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation, and great news for the 2017 market. This means risk will continue to steadily decline as a result of increasing home prices.

Price Appreciation = Good News for Homeowners

According to the Fannie Mae, more homeowners are beginning to realize that they might have more equity than they first thought, with the majority thinking it’s a good time to sell rather than buy. With a sizable equity position, many homeowners with a mortgage have an opportunity to take advantage of today’s seller’s market and easily move into a housing situation that better meets their current needs.

Unsure of how much equity you have built in your home? Contact a Reinhart Associate today and find out why now could be a great time to sell!

May statistics from the Ann Arbor Area Board of Realtors show the lack of adequate supply of new listings is driving prices upward versus the same time last year.

538 new residential listings came on the market in May, compared to 639 in May a year ago.  This led to an increase in listing and sale prices. The average list price for May 2017 was $320,853 which is a 7.2 percent increase from last year. The average sale price increased 8.5 percent to $320,360.

Getting the best advice can make a significant difference in tight market conditions. For help creating a real estate plan, contact a Reinhart Realtor today.

This week we are featuring Chris Marten’s listing — 11900 Island Lake Road, Dexter, MI 48130
Q. Can you describe the architectural style of the home?
Enjoy country living at its best in this custom multi-level home.

Q. What distinctive features set this home apart?
Generous open floor plan with a formal dining room and large, bright eat-in kitchen boasting fresh white cabinets and an island with seating. Upstairs the inviting master suite has wide plank hickory flooring, vaulted ceiling, master bath with spa tub, dual vanity and a huge walk-in closet.

Q. What are the advantages of the location & neighborhood?
Minutes from downtown Dexter this home sits on 1.5 acres. It has no HOA dues and lower township taxes.

Q. Have there been any recent renovations or upgrades?
A new roof was added in 2012. Exterior trim was painted in 2016.

Q. Does the community have any amenities we should know about?
Located close to the expressway this home has easy access to shopping, restaurants and entertainment. Being located on 1.5 acres there are numerous outdoor activities throughout the year.

Q. What amazing views will the new homeowner be able to enjoy?
The new owners will delight in this tranquil setting, with huge windows overlooking the countryside. Outside you can sit on the elevated deck off the kitchen and adore all nature has to offer.

Q. What makes the price of this home so great?
This 2400 sq. ft. move-in ready home has a finished walk-out lower level with tons of recreation space and storage. There is also a 3 car garage.

Q. Can you tell us a fun fact about the home?
Home boasts whole house water purification system providing incredibly fresh water.

Q. Is there anything else you’d like to tell us about the home?
Well and septic inspection done ready for sale. Purchaser will be able to take immediate possession of the home.

Come see the property in person at the open house this Sunday, June 25 from 2:00 pm to 4:00 pm.
If you would like more information about 11900 Island Lake Road, Dexter, MI or if you are interested in scheduling a showing, please contact Chris Marten at 734-546-0282 or by email at chris@snyderrealtors.com.

This week we are featuring Tim Powell’s listing —6007 Winans View Ct., Pinckney, MI 48169Q. Can you describe the architectural style of the home?
It is a Modern French Country.

Q. What distinctive features set this home apart?
The tranquil and beautifully landscaped lake front lot, expansive gourmet kitchen, and extensive upgrades throughout make this home a rare find!
Q. What are the advantages of the location & neighborhood?
Large lake front lot, low township taxes, short commute to Ann Arbor and Metro Detroit.

Q. Does the community have any amenities we should know about?
Homeowners have the opportunity to be members of Winans Lake Community Beach which provides them with access to a private beach area and beach house.

Q. What amazing views will the new homeowner be able to enjoy?
Nestled in towering trees and overlooking Winans Lake. Sit on your deck or patio and soak in the beauty of the water and nature surrounding you.
Q. What makes the price of this home so great?
A buyer would not be able to recreate this home at the current list price with all the extensive upgrades throughout.

Q. Can you tell us a fun fact about the home?
With all of the latest design features and workspace, this large and gorgeous kitchen is perfect for entertaining year round.

Q. Is there anything else you’d like to tell us about the home?
In addition to the 4 car garage, there is a large workshop and boat garage in the lower level. This home boasts over 4,000 square feet of living space as well.

Come see the property in person at the open house this Sunday, June 18 from 1:00 pm to 3:00 pm.

If you would like more information about 6007 Winans View Court, Pinckney, MI or if you are interested in scheduling a showing, please contact Tim Powell at 734-216-6168 or by email at tpowell@reinhartrealtors.com.

Are you looking to give your Dad an extra special gift this year? Melt his heart with a creative handmade gift that he will cherish for years to come.

Mini Pool Table Tin by Consumer Crafts
Wood Photo Frame Desktop Organizer by Consumer Crafts

Tee Time Cupcakes byMartha Stewart

Father’s Day Trophy by Happiness is Homemade

BBQ Caddy by Dream Design DIY

Free Printable Card, Coupon and Labels by Elegance and Enchantment

Homemade Fishing Pole by Imagine Childhood

Wishing all the awesome Fathers, Papas, Dads and Pops out there a Happy Father’s Day!

This week we are featuring Michelle Stalmack’s listing – 2871 Page Avenue, Ann Arbor, MI, 48104

Q. Can you describe the architectural style of the home?
This 1,834 sq. ft. colonial has 3 bedrooms and 2 full bathrooms.

Q. What are the advantages of the location & neighborhood?
Wonderful home on a quiet cul-de-sac in the highly sought after Smokler Hutzel neighborhood, walking distance to Georgetown Country Club.

Q. What distinctive features set this home apart?
Remodeled master suite, hardwood floors in the formal living and dining, stairs, hallway and all bedrooms.

Q. Have there been any recent renovations or upgrades?
The home has been freshly painted and has a remodeled master bath.Does the community have any amenities we should know about?
Nearby parks include Buhr Park and Frisinger Park.Q. What amazing views will the new homeowner be able to enjoy?
Large yard, beautifully landscaped with a sprinkler system, fire pit area, and an inviting deck perfect for entertaining.

Q. What makes the price of this home so great?
Move-in ready home at an affordable price.

Q. Is there anything else you’d like to tell us about the home?
This home is within biking distance of downtown Ann Arbor.

For more information about 2871 Page Avenue, Ann Arbor, MI or to schedule a showing contact Michelle Stalmack at 734-276-7236.

Click here to see more homes for sale in Ann Arbor

July in Ann Arbor is more than just fireworks. People near and far flock to the area for the amazing fairs, food, festivals and fun.

Sonic LunchJune – August

Bank of Ann Arbor’s Sonic Lunch is a free outdoor concert series. Every Thursday from noon to 1:30 pm June 1 to August 31, Sonic Lunch features a live band at the corner of Liberty and Division in downtown Ann Arbor. Each week a different area restaurant is on-site selling a Sonic Lunch for concert-goers to purchase.

The concerts are free and suitable for all ages. Some seating is available but lawn chairs are welcome. This is a wonderful opportunity to enjoy a revitalizing mid-day break. As a result, Sonic Lunch has become one of the coolest summer events in Ann Arbor. For the full artist line-up visit www.soniclunch.com

Summer Concert Series June 16 – August 25

Spend the evening enjoying music in downtown Dexter’s Monument Park each Friday throughout the summer.

Camaro Superfest June 30 – July 2

Camaro Superfest 2017 will be held at last year’s show site – Riverside Park in Depot Town – Ypsilanti, Michigan, which is located only 1.5 miles from the Marriott at Eagle Crest. They will still have food vendors and lots of room for trucks and trailers.  Bring your chairs and blankets and relax at this year’s event.

Manchester Fireworks July 3

Watch fireworks with family and friends at Carr Park on Monday, July 3, 2017. The beer tent opens at 8 p.m. with live music from local bands at 9 p.m. Fireworks start at dark, usually around 10:15 p.m.

Ann Arbor 4th of July ParadeJuly 4

The 28th Annual Ann Arbor Fourth of July Parade will be held on Tuesday, July 4 at 10 am. The parade, featuring floats, music groups, and walking groups, will travel through downtown Ann Arbor. Children 12 and under are invited to be a part of the Bike Decorating Contest between 8 – 9 am and then ride their decorated bikes in the parade. Leading the parade will be this year’s parade Grand Marshal, long-time LGBT pioneer, icon and advocate extraordinaire, Jim Toy.

Ypsilanti Independence Day ParadeJuly 4

The 88th Annual Ypsilanti Independence Parade” will be held in Depot Town on Tuesday, July 4th, 2017 at 11 a.m. The parade begins on the corner of Oakwood and Cross Streets and ends at Rice Street in Ypsilanti’s Historic Depot Town. There are over 50 participants in this year’s parade including veterans, marching bands, Elvisfest, local businesses, church groups, live bands, and classic cars.

Ann Arbor Farmers Market Food Truck RallyJuly 5

Get outside for dinner this summer. Ann Arbor Farmers Market Food Truck Rallies take place on the first Wednesday evening of each month, beginning in May. Trucks, carts and other local vendors will be on site from 5-8 pm. Bring a chair, a friend, and get ready for some tasty eats and live music.

Michigan ElvisFest July 7 – July 8

Named “One of the best music festivals in the Mid-west” by Chicago Tribune, the Michigan ElvisFest returns July 7-8. This two day concert has spectacular performances by the best professional Elvis Tribute Artists in North America, as well as other amazing tribute entertainers, including: Tom Jones, The Blues Brothers, and James Brown. Don’t miss your chance to pay homage to the king of rock and roll in Ypsilanti’s beautiful Riverside Park.

Huron River DayJuly 9

Come celebrate the wonderful Huron River at Gallup Park. Fun festival activities include $5 canoe/kayak rentals, children’s activities, live animal programs, river exhibits, live music, food, fishing, stand-up paddle boarding and much more. Ride your bike and receive a coupon for a free boat rental.

Manchester Community Fair July 7 – July 15

There’s nothing like the Manchester Community Fair to help kick-off the summer. This year’s 73rd annual fair includes a carnival with rides, animals and exhibits, a rodeo, tractor pulls and nightly entertainment. It’s fun for the whole family.

2017 Rolling Sculpture Car ShowJuly 14

Bill Crispin Chevrolet and the Main Street Area Association present the 23rd Annual Rolling Sculpture Car Show on July 14 from 2-10 pm. Taking place in the heart of downtown Ann Arbor, the Rolling Sculpture Car Show is a one of kind experience for the car enthusiast. All cars are welcome to exhibit at the Show.

The event itself is free and open to the public. Spectators enjoy the energy of more than 300 exotic, antique, classic, and one of a kind cars on Main, Liberty, and Washington streets in downtown Ann Arbor. Plenty of public parking is available in all structures and surface lots.

Saline Celtic Festival July 13 – July 15

The Saline Celtic Festival is famous for its rich blend of Celtic music and dance. There’s plenty to see and do at the festival, including jousting, Irish Football, ancient athletics and sheepherding. This is the place to go for a fun-filled day of crafts, ducky river races, story-telling and more. Celtic Festival festivities kick off on Thursday, July 13th at Saline’s downtown Summer Music Series, where you can get a sneak peek of the music and events the festival has to offer. Gates open at Millpond Park in Saline on Friday, July 14 at 5:30 pm and Saturday, July 15 at 10 am.

Ann Arbor Art Fair July 13 – July 15

The Ann Arbor Art Fair is a collective of four award-winning art fairs that takes place every July in downtown Ann Arbor, Michigan. The event attracts over 500,000 visitors annually. In addition to art exhibits, the fair also features music performances and Art Activity Zones, which are family-oriented stops offering special projects designed to engage and challenge even the youngest of fairgoers. Ann Arbor’s downtown restaurants and retailers add to the festivities by tempting sidewalk sales and outdoor dining.

Townie Street PartyJuly 20

The Townie Street Party, now in its 13th year, is a kick-off to Art Fair week in Ann Arbor. It will be held Thursday, July 17, from 5:00 pm until 9:30 pm at North University and Ingalls Mall in Downtown Ann Arbor. The Townie Party celebrates all things local and is our way of thanking Ann Arbor residents for so graciously hosting the Ann Arbor Art Fair each year. The Townie Party offers a fun-filled evening for the whole family where visitors can enjoy terrific music by some of the area’s most well-known bands; grab a bite of Townie grub; enjoy a brew at the Townie Pub; or take a stroll through the Kids’ Art Fair, which showcases the work of young Washtenaw County artists in grades 4 – 12.

Manchester Chicken BroilJuly 20

The annual Manchester Chicken Broil will be held Thursday, July 20, 2017, from 4:00 pm until 8:00 pm at the Alumni Memorial Field in beautiful Manchester, Michigan, just 15 miles southwest of Ann Arbor. This long-time civic event is considered the largest of its kind, serving approximately 10,000 meals in a four-hour period. Net proceeds are used to benefit a variety of causes in the Manchester area, including the public schools, community parks, library and local civic organizations.

2017 Summer Beer Festival July 21 – July 22

The 20th Annual Summer Beer Festival will host more than 100 Michigan breweries sampling around 1,000 different craft beers. Food will be available for purchase inside the festival, and guests will enjoy live music from a variety of Michigan bands. The oldest of the Michigan Brewers Guild’s four annual festivals, the Summer Beer Festival takes place rain or shine in the lovely outdoor setting of Ypsilanti’s Riverside Park in historic Depot Town.

Chelsea Sounds and Sights FestivalJuly 27 – July 29

Sounds & Sights Festival, presented by Golling Chrysler Dodge Jeep Ram of Chelsea, is an annual summer weekend event in historic Chelsea, Michigan. The event started over three decades ago and is a highlight of summer that draws visitors from all over the state and beyond.

The two-day, three-night festival features live music and social tent, indie art market, kids’ entertainment and activities, a classic car show, and much more. Each year features exciting changes and annual favorites that keep people coming back again and again. All performances and activities are held in downtown Chelsea, Michigan.

Milan Summer Fest July 28 – July 29

Milan Summer Fest is an annual community-wide event that celebrates summer with tons of family-oriented fun. Events include live music, a beer garden, food and much more.

This week we are featuring Megan Mazurek’s listing – 2713 Oak Drive, Ann Arbor, MI, 48103Q. Can you describe the architectural style of the home?
This spacious and contemporary home features an open floor plan, beautiful hardwood floors throughout, formal dining room with custom tray ceiling, and a generator.

Q. What distinctive features set this home apart?
On a large private lot, 2713 White Oak Drive is located in the highly sought after Newport Hills neighborhood. The master suite includes a sitting area, fireplace, two large walk-in closets and bathroom. The other 4 bedrooms all have an attached full bathroom.

Q. What are the advantages of the location & neighborhood?
Newport Hills is a neighborhood of prestigious homes featuring a natural setting of large rolling lots, beautiful mature trees, easy access to parks, and conveniently located near the expressway and minutes from downtown Ann Arbor.

Q. Have there been any recent renovations or upgrades?
The homeowners made several modifications and additions to the home in 2007 including the addition of a breathtaking 2-story great room with a gorgeous stacked stone wood burning fireplace, skylights and wall of windows letting natural light fill the home.Q. What amazing views will the new homeowner be able to enjoy?
Outside you will find mature trees, beautiful landscaping, a large paver patio and an expansive flex deck.

Q. Is there anything else you’d like to tell us about the home?
The finished lower level provided additional living space, a finished rec room, fireplace, wet bar and plenty of storage space.

For more information about 2713 Oak Drive, Ann Arbor, MI or if you are interested in scheduling a showing, please contact Megan Mazurek at 734-645-4296.

Prepare the home for sale.
Buyers are lined up looking for well-maintained homes and because there is a shortage of them, they are willing to compete and pay extra for move-in-ready homes. To get the best price, a home should be detailed the way a car dealer would detail a previously owned car to prepare it for market—everything should be maintained, clean and functional.

Price the home to get buyers excited.
In today’s fast-paced market, smart pricing typically brings high offers quickly. There is a backlog of anxious buyers in most price ranges who haven’t found a home they really like, or lost one or two of them to other bidders. The goal in pricing should be to get multiple buyers excited to the point of making motivated offers (so that they don’t lose out to other equally excited buyers).

It’s fine to push the pricing a little depending on the size and enthusiasm of the potential pool of buyers for the specific market and price range. Some sellers are even taking the opposite approach and finding success with intentionally pricing low so as to create an auction-type environment with buyers getting caught up in trying to outbid each other. This strategy requires careful planning to be sure the home will be exposed to enough excited buyers to get the optimum price.

Higher end markets move slower.
Higher end markets are typically moving slower with higher supply levels and market times than moderate and entry level markets. While there is generally less demand for higher-end homes, there are still plenty of buyers waiting for the well maintained and detailed high-end listings.

Place more emphasis on active and pending comps.
As homes sell more quickly, more emphasis should be shifted toward active and pending comps. In strong buyers’ markets, sold comps matter and active and pending comparables ride “back seat.” When there’s a shortage of available homes, more emphasis should be placed on supply and how quickly it’s turning over. How many competitive active listings are there? How many competitive pending listings? What is the ratio of active listings to pendings? What was it a month ago? It’s not uncommon in this market to see pending comps outnumber active comps.

When pricing homes in a hot market, shift weight forward toward active and pending comparables. If a mortgage is likely, the house must appraise, but so long as the negotiated price is reasonable, worst case, there may be some adjustment needed for the appraisal.

If you are thinking about buying or listing a home forsale this year, contact us to meet with a local real estate professional who can help you take advantage of current market conditions.

This week we are featuring Pia Crum’s listing –16998 Walker Road, Grass Lake, MI 49240

Q. What distinctive features set this home apart?
This elegant and expansive eco-friendly home is situated on acres of rolling hills off of its own private road. The custom kitchen includes a six-burner stove and the home has two gas fireplaces. There is an attached greenhouse with thermostatic temperature control, a first-floor master suite, and first-floor laundry.

Q. Can you describe the architectural style of the home?
Ranch home with an open floor plan and European-style courtyards. Clean lines, vaulted ceilings, skylights, and abundant outdoor living space.

Q. What are the advantages of the location & neighborhood?
The pastoral setting provides total privacy while still being connected through new high-speed internet. Less than a half mile to Sharon Hills park and trails.

Q. Have there been any recent renovations or upgrades?
The homeowners have made many updates to make this an energy-efficient, “green” house.  The home utilizes geothermal energy with geo-heat recovery ventilation. A Kinetico water system with reverse osmosis filtration and Gernac whole house generator are also among the upgrades

Q. Does the community have any amenities we should know about?
This home is just 20 minutes to Chelsea Wellness Center, 15 minutes to Manchester Schools and 30 minutes to Ann Arbor.

Q. What amazing views will the new homeowner be able to enjoy?
The home is surrounded by 10 acres of meadows, with perennials galore. The outdoor space boasts a courtyard, walkways with natural stone landscape walls, and a hardscape veranda.

Q. What makes the price of this home so great?
There is a detached multi-functional bonus building that is perfect for a car enthusiast, home business, or art studio. You’ll keep the landscape lush with the 5-zone computerized drip irrigation system fenced garden.  The home is heated using a geo-thermal system and includes a large fully-finished basement.