Novi Home Prices Increase 2.9%

Yes, that's right, Novi prices are rising, and it’s time talk about the fact that people want to invest here and people who live here want to stay. Sure, the schools are great and the parks are clean. People say when “hi” when walking around the malls and in our neighborhoods. We celebrate our great diversity and honor our wives and kids by being a simple man in a community that works hard and, yes, plays hard. Our kids have excellent teachers and role models right here at home. When I sit down and discuss the market that I am blessed to work in with people who listen and challenge me, we have spirited debates—and while we all aren't of the same mind, we are of similar heart. This is where parents come to raise their kids and make life better for them and give to those around them. So, supply of homes is down and demand grows. Prices rise.

Hi, my name is Paul Mruk. I am a Novi resident. My kids go to Novi schools, we go out to eat and shop in Novi, and I am blessed to be the #1 selling Real Estate Professional in Novi in 2010. I am not a professional writer...as you probably already noticed. However, I was asked to give my opinion of the real estate market with a Novi slant. Well, now we are talking... I get asked the same questions by nearly everyone I talk with.

"Paul, how is the real estate market?"

My response is "very busy" and I reassure them that, yes, Novi is on the upswing and, yes, the worst is behind us.

WHY is real estate very busy? The media says our economy is in the tank?

My response is the media has their own agenda whether it is local or national.　Now, I don't want to start off our first time together by making radical statements. BUT, I will state this:

I am busy because people know that I can get the job done and I work my tail off to earn a ton of business. There are many people who want to sell their home so they can move up to their dream home or into the right elementary school, and why not? With interest rates at historic lows buyers are able to get low prices and pay less. It’s time to stop thinking about doing something and start taking action.

So those who are secure in their jobs and are tired of waiting for the perfect time to purchase a home may have stumbled their way into the perfect buying storm. Or, they have calculated correctly and are making a smart business move. As prices are coming off 10-15 year lows, selling now is much better than it was a couple years ago.

Perspective

On the other side of the coin there are still a lot of people here who need help and need to make that difficult decision. Do I let my house go back to the bank? Do I short sale the home or do I sacrifice another few months of tightening our budget to see if things get better? The foreclosure market in Novi is going to go up from levels in 2011. Many areas in Novi are going to appreciate much more than 2.9%. I will explain in detail in future blogs.

Welcome to my world.

I love it. Seriously. I enjoy the challenges of making those tough calls, negotiating to where we just can't anymore and being able to stay focused the entire time. I attack every day by planning the night before, after the kids go to bed and my beautiful wife falls asleep, that's when I have quiet time to research, think, read　up on the market and read motivational stories, work on the most effective way　to solve ongoing challenges and prevent the next ones from happening. Why is one home getting more activity than another? Additionally, I email prospects, answer questions and take a few minutes to get my mind right with the goal in mind to get ahead of the market and then effectively communicate that to my clients. By writing all of my goals and plans down for the next business day, it’s then that I can gently take a deep breath and fall asleep. Being a realtor is not a job, it’s an all-consuming lifestyle I chose. It has great benefits with a flexible schedule and a unique way to meet a lot of different people.

One of the exciting parts of being a realtor is seeing those who work hard and generate a level of success and then take that success and build upon it to one day purchasing a new home. However, some people’s measure of success is being a successful parent and finding balance. I find those who are successful love to　share about what it took to get there. With all that information it streamlines my success as a realtor, husband, father and friend.

2nd most common question:

When will we get back to the market we had a few years ago?

People who are underemployed or locked into a job that doesn't generate the income they want or need to move usually stay stagnant—and that's not all bad, it just is. But the more people who are working at a job that is profitable for them, the more they will spend. When more goods and services are needed it creates jobs. When more jobs are created, more people want to plant roots into that community and buy a home. So, when our economy starts generating jobs and our underemployment and unemployment shrinks, then consumer confidence grows and a demand for buying a home increases. The more demand there is for housing, prices rise and the investment of a home outweighs the benefits of leasing. The market moves up. It was only a few short years ago we saw 5.4% unemployment. Now our real under and unemployment is over 17%.

I have been asked by RE/MAX to speak on several top producer panels, assist agents on creating an effective business plan and master the use of their time.　Being recognized as an agent with excellence for 20+ years gets you noticed. A few years ago the CEO of REMAX had to sell a local family home. Margaret Kelly could have picked any of the 1,000+ agents. She chose me and we succeeded in selling that home within 30 days. I know what it takes to be successful in today’s real estate market. For information about my business please visit www.PaulMruk.com.

My goal for this blog is to share with you my knowledge of this economy and how it affects real estate, be a resource that you can turn to for real estate related questions, share some life lessons, banter with you and have some fun. I welcome your thoughts.