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A marketing report from Real Estate One
August 31, 2012
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Real Estate | Tagged: real estate market information | 
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Posted by Norm Werner
Seeing good trends in the data…
August 29, 2012I track sales in 9 local real estate markets that surround (or are near) Milford – Milford (Village and Township), Commerce Township (to include Walled Lake and Wolverine Lake), Highland Township, White Lake Township, West Bloomfield Township and Lyon Township and South Lyon in Oakland County; plus Green Oak, Brighton (Township and City), and Hartland Township (and Village) in Livingston County. I’ve been tracking these same nine markets for a about three years and five of the nine for several years longer.
Basically I show the sales data every week and report the following statistics – Whether the sale was a distressed sale (a foreclosure or short sale), the listed price, the sold price, the percentage of sold verses listed prices, the SEV for the home as recorded in the Public Record Database at the time of the sale, the SEV multiplier that the sale price represents (SEV is supposed to be ½ of the market value, but these days homes are selling for 2.2 to 2.5 times the SEV, which indicates that the assessors overshot in the down direction), The number of days that the home was on the market (DOM), the Square Footage of the home as reported in the MLS and the listed value per Sq. Ft. and the Sold value per Sq. Ft. For each market I show the Averages for those values and the Median value for the data.
from sale values in the $124-144/Sq Ft ranges during the peak in the markets that I track down to markets that were averaging $70 – $80/ Sq Ft. Admittedly much of that severe drop was due to the high percentage of foreclosed houses in the sales mix during that period; however, it did impact the market values of all houses on the market. So we are not back to peak levels and may not get back to that level for a decade or more (if ever); however, we are getting closer to market values that will allow many who have been sitting on the sidelines to consider listing their homes.
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Posted by Norm Werner
Thinking about a life not lived…
August 26, 2012I’m attending my 50th high school reunion in September. One is given pause to reflect on a life lived since high school, especially since the organizing committee had ask for a write-up about what you’ve been doing since high school. That was a daunting task – trying to summarize a life lived in a page or two.
I got to tell my stories of going off to college, meeting and wedding the love of my life, going off to exotic places (Iran) and dangerous places (Viet Nam), having children and a career in business, living in several states and finally settling in to Milford for a great life in the Village of Milford.
Recently I got an email from the reunion organizers listing people from our class that they could not locate and people that have died. Sadly, my best friend from high school was among those listed as deceased. I was really sorry to hear that, since I was looking forward to talking with him about his life. I went off to college at the University of Illinois and he, on a full-ride scholarship headed off to Harvard. I only saw him briefly once after we both left, during the summer break between our freshman and sophomore years at college. He was struggling a bit with both the academic load and the fact that even having a full-tuition scholarship didn’t really cover the cost of going to Harvard. I guess I’ll never know how is life turned out, but he did live until a few years ago, so at least he had a life.
One of the other names that is on the deceased list was a guy I knew, but wasn’t really buds with in high school. From what I can tell he went off to Viet Nam and was an early casualty there. That started me thinking about the consequences of a life not lived. There was a romance and marriage that never took place and children that were not born. There was work that someone else did in his place, little league games that he didn’t get to attend, a church pew just a little more empty because he was not there and so much more. Who can say for sure how his home town or state or even the nation might have been changed had he come home from that war. I suppose that the same “what if” thoughts can be had about any life that is cut short like that.
I’ve decided that I’ll not spend my time at the reunion guessing what might have been; there’s to much catching up to do on what actually was. I’ve been getting some indications from email and Facebook postings about the lives of some of my old friends from High School. Of course, I’m sure that none of our teachers from that era remain alive; which is a shame, since it would be nice to go back and thanks them for the start they gave me. I’ll post again after the event to let you know how it went.
Leave a Comment » | Uncategorized | Tagged: life, reunions | Permalink
Posted by Norm Werner
You haven’t lived in Milford until…
August 23, 2012You’ve seen the waterfalls of Milford. Yes the plural is correct. There are at least two waterfalls in the Village of Milford. The most obvious and best known waterfall is now called the Mill Valley Falls, which is located behind the Mill Valley Strip Mall on Main street right where it branches off into Main street to the north and N. Milford Rd to the northwest (at the Flatiron Building with the waterwheel and geese statue).
Thousands of cars a day pass by the Upper Mill Pond just north of the Mill Valley complex and see the Upper Mill Pond. I’m sure that they wonder where the water goes. They can actually see the top of the falls at the south end of the pond as they pass by; however, I wonder how many have actually seen the falls. It is now quite beautiful, due to the efforts of the Mill Valley owners, who spend quite a bit to have it totally landscaped and a new stairway to the top installed. There are little seating areas along the path to the top and an area to sit and listen to the falls at the top too. It’s really quite soothing to sit there and listen to the water falling over the concrete stepped falls. This falls is about 20-30’ in height, so the water has some force behind it. After heavy storms and during the spring thaw the 
water flow can be quite rapid and the falls become almost a raging torrent. It has a pretty good waterfall roar almost all the time.
The other waterfall within the Village is not nearly so dramatic. In fact it is so peaceful and pleasant that it is one of those places that you just want to lay out a blanket and take a nap. It is off lower Mill Pond, next to the Pettibone Creek Powerhouse. You can’t really get to this falls, but you can get close enough to see it and hear it. You can either go in through Central Park (to the upper parking lot) or come in off W. Liberty, which is reached from Commerce by turning left (South) onto Cabinet St at the entrance to the Prospect Hill shopping center (The Kroger Shopping Center) and then east on W. Liberty until you get to the Pettibone Creek Powerhouse (itself to be the topic of another of these missives). The Lower Mill Pond Falls is right next to the Powerhouse, on the west side. It is probably only a 10 foot drop. But is makes a nice sound and is quite pleasant sit and watch and listen too.
So, there you have the waterfalls of Milford. If you haven’t ever taken the time to go behind the Mill Valley Center, to the lower level, or deep into Central Park to the Power house, then you haven’t really lived in Milford. Take the time to go find these wonderful little places and enjoy them. Take the whole family. Kids love waterfalls.
Next time I’ll talk about the Pettibone Creek Powerhouse, which you will see, if you visit the Lower Mill Pnd waterfall.
Leave a Comment » | About Milford Michigan | Tagged: things to see in MIlford | Permalink
Posted by Norm Werner
Dealing with life’s risks…
August 22, 2012“Be brave. Take risks. Nothing can substitute for experience.” (Paulo Coelho) from the Jack’s Winning Words blog.
Many of us are risk averse, we just don’t like getting outside of our comfort zone and trying new things that we see as risky. The risk may be physical danger (like in sky diving) or perhaps the chance for social embarrassment (talking to people at a party) or maybe the risk of failure (calling on that FSBO or expired listing) and loss of self-esteem. For some there is a perceived risk in blogging – what shall I write about and how will people react to it? Whatever the perceived risks, the avoidance of doing something because of those risks means that you have also missed the 
opportunity for new experiences. In those cases you end up with regrets instead of experiences.
It is the accumulation of experiences and the intelligence to understand what they mean that leads to wisdom. So, one can end up as a wise old man or an old fool with lots of regrets just by making the decisions not to take risks. The end game is still the same, whether you live life to the fullest and take some risks along the way or cautiously avoid all risks along the way. What do you do when faced with a risk in life?
Leave a Comment » | Inspiration | Tagged: risk taking | Permalink
Posted by Norm Werner
A slice of Americana right here at home…
August 19, 2012I recently spent a few days meeting with most of the local merchants and businesses while soliciting support for the upcoming Milford Home Tour. The experience gave me pause to reflect on how idyllic a setting the Village of Milford really is. I got to meet with the Butcher and the Baker, the Barber and the Feed Store proprietors, because we still have all of those things in our little Village. I met the shoe store owner, several clothing store owners and a couple of our jewelry store owners, too. Then there were the furniture stores, the candy store, the local photographer and the kitchen/cooking store. Of course the more prosaic stores are there too – the auto parts stores the drug stores and grocery stores. Finally I got to meet with most of the owners of our great local restaurants. See the header at the top of this page for a composite view of some of the stores of our downtown.
The thing that stood out for me was that all of these little, individual businesses still existed right here in the Village of Milford and that, for the most part, you could park once and walk to all of them by going up and down Main St. You just don’t find such a great assortment of stores and businesses in small towns anymore. Milford is far enough off the beaten path to have avoided the fate that so many small towns suffered when so-called “big box” stores moved in and took all of the customers away. Milford also had a good master plan for growth and strong and visionary leadership who carefully managed what and where growth took place, in order to preserve a strong downtown. It worked and we still have a viable downtown that takes advantage of the great historical buildings that are there and the small town feeling that permeates everything.
Many of the local merchants that I talked to have had a tough time recently, with the down economy taking its toll, even here. Every one of them said there’s no place else that they’d rather be than in Milford, even in this economy. That says a lot, too.
Several of the local businesses decided to support the Milford Historical Society and its 36th annual Home Tour during the third weekend of September. The fact that we have the local Milford Historical Society, with its museum and a Home Tour that’s been going on for 36 years also speaks volumes about small town America and our little Village. People in Milford value and have preserved the fine old housing stock that grew up during the mid to late 19th Century. Milford was never a rich town, but it has preserved the bigger, nicer homes that were built by its early merchants and businessmen, as well as the smaller homes that were occupied by the workers of the day. There are no real mansions in Milford, but there are some fine old homes that have the best features of homebuilding of that era. Some of them are on display each year for the Home Tour.
So, if you get the opportunity to get out to Milford for the Home Tour, try to come on September 15th so that you’ll also have time to wander around our beautiful downtown. Most of the downtown stores are not open on Sunday, but on that weekend some will be, because there is also the big Milford Car Show downtown, too. You’ll be able to easily find our Butcher and Baker and many of the other businesses that I’ve mentioned. The Feed Store is a little harder to find, but it’s there, tucked away off a residential side street (Houghton St) on the south east side of town. If you have an animal of almost any type you can find feed and other things for it there, along with a proprietor who’s more than happy to chat with you about your pets.
Leave a Comment » | About Milford Michigan | Tagged: community events, Milford Michigan | Permalink
Posted by Norm Werner
Local bits and pieces…
August 16, 2012Things can’t be that bad in the economy – I’ve heard from Kim Galbraith, owner of 2 Moms & a Mop, a few times lately that she can’t find people to work on her cleaning crews. You would think that with an unemployment rate stuck near 9% it wouldn’t be all that hard to find people who want work. I guess you’d be wrong. Perhaps it’s that last word – WORK – that scares people off. Kim pays well and even extends a benefits package to full-time employees. She is looking for reliable workers who will show up for work and work to the standards that she has set for her business. If you or someone you know is looking for employment and are not scared off if it involves work, click here for an application that you can send in to Kim.
An opportunity to support a local tradition – I’ve spent the last two weeks soliciting support for the upcoming Milford Home Tour. Milford has one of the only successful home tours in Oakland County. Our Milford Home Tour, which is presented by the Milford Historical Society, is now in its 37th year. I’ve got lots of sponsor packets out and I hope that things have improved enough in the economy that local businesses can spend a couple hundred dollars to support the Milford Historical Society and this traditional fall event. Call or email me if you’d like to be a sponsor or a support of the Milford Home Tour. Supporter packages start as low as $200.
The third weekend in September (14th and 15th) will be another of those busy weekends in Milford. The Home Tour is on both days; however, Sunday is crammed full of things to do. There is the Milford Car Show, the largest annual car show in this area, that takes up all of Main St and runs from about 8 am (check in time and positioning cars on the street) until 4 pm. The actual display time and voting time for the public is 11 am until 4 pm. For more on the Milford Car show and how to register a car, click here.
Then there’s the Tractor Show out at the Huron Valley State Bank parking lot at the corner of Milford Rd and GM Rd. Tractors of all vintages and type will be on display there. That show runs from 11 am until 5 pm on Sunday only.
Finally there’s the annual Rotary Club of Milford Duck Race. Thousands of yellow rubber ducks will be dumped into the Huron River east of the Village and will be swimming frantically for Central Park where the first duck across the finish line will win a big prize for its owner. To find out how to get a duck in the race click here.
Milford honored to host the 2012 Oakland County Heritage Conference – The Annual Oakland County Heritage Conference will be held in Milford this year on September 19th at the Milford Presbyterian Church. This conference, which is sponsored by the Oakland County Economic Development and Community Affairs Office will be focusing upon what makes someplace a “Place”, a destination. Milford was chosen for its strong integration of its historical downtown and Historic District into the fabric of the community. The meeting attendees will be taking walking tours of the historic downtown area and of a portion of the Historic District. The group is particularly interested in how Milford has been able to successfully conduct the Home Tour for 37 years. For more on this conference, click here.
Of course to keep up on a daily basis with what’s going on inthe Milford/Highland area, go to my web site http://www.movetomilford.com for the complete upcoming events calendar.
Leave a Comment » | About Milford Michigan | Tagged: upcoming events | Permalink
Posted by Norm Werner
Inquiring minds want to know…
August 15, 2012
Leave a Comment » | Uncategorized | Tagged: insurance coverage | Permalink
Posted by Norm Werner
Up next in Milford – the Home Tour and Car Show…
August 14, 2012The warm afterglow of a successful (albeit a bit wet) Milford Memories is fading fast and we turn our attention to the next big thing – the third weekend in September when the Milford Home Tour is the weekend event. That same weekend, on Sunday only there is the biggest car show in the area – the Milford Car Show – and a Tractor Show. In addition the local Rotary Club holds their annual rubber duck race on the Huron River on Sunday. It’s a fun-filled weekend for the whole family.
The 36th annual Milford Home Tour will feature tours through 5 Milford homes, as well as having the Milford Historical Museum, the log cabin next to the firehouse and the Pettibone Creek Powerhouse open to tour. Go to the Milford Historical Society Web site for more details on the Home Tour as they become available. Tickets are available ahead of time at the Museum for $15.
The Car Show takes place on Sunday and takes up most of Main Street and 
features hundreds of cars from classics to cruisers. The Car show is judged by the attendees in several classes and the best in each class wins an award. Then there is the Sponsors Award, which is usually given to the car judged by the event sponsors as the best in the show. For more on the Car Show and to get a registration form, if you’d like to be in the show, go to the Web site – http://www.milfordcarshow.com
The Tractor Show is held on Sunday out at the Huron Val
ley State Bank on the corner of Milford Road and GM Road. Tractors of all vintages and from all around the area are featured. The Tractor Show is run by Bill Crawford, a local farmer who lives and works on the Crawford Farm, a Sesquicentennial farm in Milford Township that has been in the Crawford family for the entire time.
The Duck Race is a fund raiser event for the local Rotary Club and features 
thousands of yellow rubber ducks dumped into the Huron River upstream of Milford’s Central Park. The numbered ducks then “race” down the river, with the owner of the first duck to the finish line in Central Park winning a cash prize. It’s always a lot of fun to root for your duck in the frantic race to the finish. For more on how to buy a duck for the race go to http://www.milfordducks.com/
So mark your calendars now for September 15 & 16 and plan on spending the weekend in Milford. Come out from the events and visit some of our local stores and fine restaurants while you’re there. The newest restaurant on Main St – The Palate – will be open by then. All of our restaurants will be open in Saturday and many will also be open Sunday for the Car Show. It’s always fun to visit Milford and even more so when there are so many things to do.
Leave a Comment » | About Milford Michigan | Tagged: upcoming events | Permalink
Posted by Norm Werner
Look ahead…
August 13, 2012“One who does not look ahead remains behind.” (Brazilian Proverb) from the Jack’s Winning Words blog. Jack wrote about looking ahead to the next Olympics when he used this saying.
I think it is very useful for real estate purposes and for life in general. Often there is a tendency (human nature I suppose) to dwell on the past. Some never let go of a past success, maybe throwing the winning touchdown pass in their final high school game; and some can’t seem to let go of a past failure – losing a listing to another Realtor for instance. It is equally sad to see the 50+ year old, ex-high school jock still walking around in his tatte4red high school letter jacket reliving that final game as it is to see the brooding and petulant agent grumbling about losing that last listing opportunity.
A wise and older agent who helped me get started tried hard to get me to understand his philosophy of being able to say “So, what?” So, what if you didn’t get that listing; or so what if the sale fell through; you’re still here and the future is still ahead of you, if you’ll just turn your attention in that direction, instead of dwelling on the past.
There is a time for celebrating and a time for sadness or disappointment, but both are brief and need to be let go, so that you can move forward with life. Don’t get left behind. Life is too short to waste it by dwelling in the past. Look ahead, there are many more opportunities for you to celebrate.
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Posted by Norm Werner
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