The grind of daily life is something that every serious business person experiences and learns to cope with. Successful entrepreneurs understand that it is important to refuel and recharge to avoid or at least mitigate some of the burnout that accompanies the relentless pace of industry today.
For professionals involved in the real estate industry, the relentless pace of life has also included the stress of dealing with a marketplace that has experienced periods of intense activity and stress due to foreclosures and more recently, extremely low levels of housing inventory.
‘Leadership Essentials’ inspires REALTORS and individuals involved in business to reshape their thinking about the nature of challenge and adversity. The interactive course utilizes storytelling and principles of Leadership gleaned through navigating the tumultuous world of real estate during one of the most profoundly difficult seasons the real estate industry has ever witnessed.
Lola Audu served as the President of the Grand Rapids Association of REALTORS in 2011 and was elected President of the Women’s Council of REALTORS- Western Michigan Chapter in 2013. Lola’s personal journey and unique experience profile serve as a backdrop for a deeper conversation about what it means to not just lead, but become a leader who invokes participation through inspiring others to follow and engage in life transforming ways.
To book this course for your real estate brokerage, business or non-profit group, please contact Audu Real Estate at 616-791-0511. A mini preview of the course can be accessed through downloading the link.
COMING SOON: cc: Authentication – The Process of Becoming an Authentic Influencer. Check back for more details for this course which is scheduled to premier in May – June 2015.
Posted in audu real estate, Grand Rapids | Tagged audu real estate, business education, grand rapids mi, leadership essentials, leadership essentials motivational class, lola audu, motivational classes for real estate professionals, real estate education | Leave a Comment »
Twenty years ago during a weekly Broker tour, an agent pointed out a home that was in the process of foreclosure. As a brand new agent, I didn’t really understand the significance. For one thing, there were very few distress sales and most agents had never actually negotiated a transaction with anyone other than a home seller.
Fifteen short years later, the landscape would change dramatically as Distress Sales (Foreclosed Homes and Short Sales) skyrocketed to almost 60% of the sales in the West Michigan area during the worst parts of the economic recession. Thankfully, the volume of this type of real estate activity has slowed substantially. However, when a negotiation requires the assistance of a Short Sale Specialist, choosing an experienced professional can make all the difference in the world.
Recently, we closed a Short Sale transaction that required negotiating through multiple offers and almost a year to bring to closure. It was a unique challenge. At the closing, it was hard to express the gratitude we all felt in seeing another family successfully move from here…to there.
Lanita’s story about her journey and her experience with Audu Real Estate will be a feature in our upcoming April newsletter. If you’d like to be added to our mailing list to receive future installments, please e-mail us: firstname.lastname@example.org. You may also visit us on Facebook.
Real Estate professionals in West Michigan are finding themselves involved in an interesting line of conversation with potential home buyers in recent months. After the usual qualifying questions about housing needs and wants, the next step is to find the right home. That’s where it’s getting complicated.
Home Buyers are often surprised to find that there are not that many homes to choose from. And, when a suitable home is found, there’s another surprise. Hopeful new home owners may find themselves competing with multiple offers to purchase a home – sometimes within hours or days of new listings coming onto the market.
For Investors, the outlook is even bleaker. According to the latest statistical reasearch available from the National Association of REALTORS, ALL CASH sales dropped slightly in February to 26% (down 1% from the previous month) and Individual Investors accounted for 14% of the market (down from 17% in the January).
Distressed Sales remain largely unchanged at approximately 11% of the national market. The days when Investors were getting houses for a ‘song & a dance’ have disappeared. The average Distress Sale retails between 15-17% below fair market value.
Inventory levels are at an all-time low nationwide. As a result, housing prices have remained strong. The average home is on the market for less than 65 days. 34% of homes on the market in February sold in less than a month.
On the local front, the Grand Rapids Association of REALTORS reports some trends that mirror the national marketplace but overall West Michigan is posting positive gains. The average home price has increased 7% over the same period of time last year with today’s average home retailing for just under $159,000 versus approximately 140,000 a year ago. This is a significant increase of over 12% over the past year.
What remains the most unexpected element of this story is that last year (February 2014), Inventory levels were at approximately 3.1 months of supply. Today’s numbers indicate a drop to 2.6 percent. Surprising, even as we prepare to enter the Spring Market of 2015. If we repeat the trend from last year, it will be July before inventory levels peak above 3 months of housing inventory. Great news if you’re thinking of becoming a Home Seller. For Home Buyers…well, not so much.
For more information about the insights shared in this Market Trends Report, please contact: Lola@audurealestate.com.
Grand Rapids Association of REALTORS statistical report
Posted in Grand Rapids | Tagged 2015 Spring Residential Real Estate Trends for West Michigan, audu real estate, Real Estate Statistics and Sales for West Michigan, real estate trends | Leave a Comment »
Audu Real Estate is pleased to present a brand new CE Marketplace certified course: Placemaking: Re-thinking the Nature of Environment. Please contact Lola Audu at email@example.com for information about booking this course for your company or orgnanization. The course is certified for 1 Hour of Continuing Education Credit for Michigan real estate agents.
Instructor: Lola Audu
Course Descriptive: C000203 – available through the CE Marketplace
Certified for 1 Hour of Continuing Education Credit for real estate professionals in the State of Michigan
Placemaking: Re-thinking the Nature of Environment examines the role of REALTORS and real estate professionals in facilitating an effective strategy for collaboration with community stakeholders, business leaders and organizations and residents in their local areas.
You may be asking…what is Placemaking? Well, a concise answer is this: Placemaking creates vibrant spaces through the thoughtful and intentional development of shared communal space. A number of recent studies indicate that when the development and integration of shared communal space is addressed intelligently, there is a direct correlation to a number of benefits including healthier community engagement and interaction as well as enhanced economic growth and opportunities.
The course is designed to educate real estate professionals about the opportunities and responsibilities the industry shares in ensuring that our communities develop in healthy and economically viable ways.
May also be of interest to: Business & Community leaders, Planning and Zoning Boards, Environmental companies, Commercial real estate and lending professionals, Non-profits interested in community development, City planners, Developers
Click to view mini pre-view: Mini Placemaking Version 2
About the FAQ (Frequently Asked Questions Series)
This series is designed to answer questions that we hear clients asking over and over again. Perhaps, you’ve wondered about some of these questions yourself. While this is not intended to be an exhaustive explanation on the subject being discussed, it is our hope that these short blogs will provide helpful insights and may encourage you to explore further. Please feel free to contact us by phone or e-mail with any questions.
Question: How Long Can I Stay in a Home After the Sale?
Answer: It depends. The length of your stay in a home after a home closing is usually determined by the terms of the Purchase Agreement contract that was signed. Today, it is not unusual for the contract to dictate that you vacate the premises when you receive your check. The buyers often want to get into their new home as quickly as possible and since they are now paying for the home, would like to have immediate access.
And then there’s the issue of liability. Your Home Owner’s Insurance typically terminates when the home changes hands and the new owner’s insurance kicks into effect. If an incident occurs during the period of time a previous home owner continues to occupy the property, there could be a question about whose insurance takes care of any unforseen issues.
However, it is still not unusual in West Michigan for home owners to remain in the residence after the sale for a period of time. This can range from days and weeks to longer. In West Michigan, most contracts will require some sort of rental provision for this time to be paid to the new home owner. The rent is often negotiated at close and can be demanded in advance. In the event that a previous home owner elects to stay inside the home AFTER the rental period, the Purchase Agreement may exact penalties. At this point, it becomes a more serious issue, because in effect, the previous owner in essence becomes a squatter and may require legal eviction. This is a situation that requires counsel and it would be prudent to consider legal assistance.