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FAM.CHT.1013RealEstateOneInc.2010PresidentPresidentBrokerageServicesAffliatedServicesDanElseaStuartElsea2009HighlightsThereisoutstandingopportunityforeveryonetoexploreinrealestatetodayPerhaps2009and2010mightbestbedescribedasthetransitionfromdeclinetorecovery.Whetherornotwehavehitthebottomofthemarketmightbedebatedbutcertainlywearehoveringthere.Weenjoyedawonderfulcombinationofnear-record-lowinterestrateslowerpricesplustaxincentivestohelpcreatestrongmarketactivityformostof2009.Overallwesee2010tobeabitofarollercoasterupabout10whencomparedtothefrsthalfof2009andthendownthelasthalfoftheyearbyabout15.Thenetresultisexpectedtobeaboutthesameintermsofhomessold.Thetaxcreditsshouldcontinuetoattractbuyersandweanticipatetheadditional6500move-upcreditwilldrawasmanyas2000morebuyersintoMichigansmarketplacein2010.Weareseeingbettereconomicsignspayrollreductionshavestoppedinmostcasesbusinessesarere-buildingdepletedinventoriesandthegeneraloutlookismorepositive.Sothereisopportunityforeconomicgrowthtofllthegapprovidedbythecurrentgovernmentsupport.Homevaluesareanotherimportantquestionanddependlargelyontheratebanksbringtheirforeclosureinventoriesontothemarket.Themedianhomevaluesin2009rosethroughouttheyearnotbecauseofhomeappreciationbutbecauseasbank-ownedinventoriesfellbuyerspurchasedmoreexpensivepropertiescausingariseinmedianhomeprices.Homevaluesintheunder100000marketsshowedsomeprecursorstoappreciationwherebanksusedasmallerpricediscountwiththeirhomesthantheydidin2008.Thegoodnewsisthereislargepent-updemandforhousingandevenjustasmallamountofgoodeconomicnewswillbegintohaveanimpact.Alsothosewhohavelosttheirhomesduringthistimearestillhomeownersatheartandwillwanttobebackinthemarketoverthenext2-4yearsastheircreditstabilizes.MichiganandMetroDetroithasbeenataleoftwomarketshomessellingasaresultoffnancialdistressforeclosureorshortsalesandthetraditionalretailsales.Financiallydistressedpropertiesselltwiceasfastandonaveragefor50lessinmostcasesrefectingthecurrentconditionofthehome.Asthismarkethasunfoldedoursalesassociateshaveworkedhardtoensuretheyhavethetoolsandskillstoassistourclientsinanysituation.OurAgentshaveaddedtheNationalAssociationofRealtorsShortSaleResourceCertifcationtakenadditionalforeclosureleasingandshortsalecoursesanddevelopedastrongSellersShortSaleProcedureasaneasyguidethroughtheprocess.Wehaveaddedaninvestmentanalysisprogramtoourwebsitedistributedourlistedhomestomorewebsitesthananyotherbrokeraddedaforeclosuredivisionandnowhavethe1homepurchaseFHAlenderJohnAdamsMortgageinSoutheastMichigantoensureasteadyfowofmortgages.ThisyeareveryhomeownerinMichiganshouldbeassessingtheirlongtermandshorttermhousinggoals.Itisnotlikelywewillseeanothertimewhenpricesinterestratesandtaxincentiveswillcometogetheratonetime.Regardlessofyourcurrenteconomicsituationthereisopportunityworthexploringinrealestatetoday.Overthepast80yearswehaveassistedmorethan400000Michiganhomeownerswiththeirrealestateneeds.Chancesarewehavehelpedyouorafamilymemberinthepast.Youcantrustustohelpyoutofndthebestopportunityduringthisrealestaterecoveryaswell.