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Realtors; Realtors
Topic Started: Dec 28 2005, 11:28 PM (646 Views)
2boys
Principal
Are there any realtors out there that can give us insight as to comments coming from prospective buyers/sellers? I know it's early yet but has a buzz started yet?

Perhaps we should get some realtors to attend some of our meetings or get them interested in the recall and/or injunction so they will have informed answers for buyers/sellers.

If anybody knows any Livonia realtors, please make some phone calls and plant some seeds - we need their support for the recall and injunction. We also need their cash donations for our legal expenses. It's in their best interest to get involved and stay informed, so they help us and we help them.


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Anna Krome
Principal
I have spoken to 3 prominent realtors.

Their advice: Move before this blows up even bigger.

They also advise not to tell prospective buyers that the neighborhood school will close, and that their kids will have a long bus ride to a school in another city.

Unfortunate, but honest.

I know our new neighbors do not have a clue what is happening.
Maybe the BOE can tell them?

Anna
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2 kids
Principal
Well, this is eye-openning . . . According to this, the homes in our area are already 15-20% overvalued. There is no listing for Livonia, but you get the idea by looking at Ann Arbor, Warren, Detroit, etc. It will only gets worse for us in the LPS if LI is actually implemented.

http://money.cnn.com/2005/12/29/real_estat...rkets/index.htm
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f11
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LPS, transportation for all
A 1999 study produced by Case Western Reserve University and Pricewaterhouse entitled, “How Much is a Neighborhood School Worth?"

Showed that disruption of neighborhood schools reduces house values by 9.9%
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Grant1
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We have just begun to fight!
2 kids
Dec 29 2005, 01:52 PM
Well, this is eye-openning . . .  According to this, the homes in our area are already 15-20% overvalued.  There is no listing for Livonia, but you get the idea by looking at Ann Arbor, Warren, Detroit, etc.  It will only gets worse for us in the LPS if LI is actually implemented.

http://money.cnn.com/2005/12/29/real_estat...rkets/index.htm

Our homes have been considered as "overvalued" for quite some time. My father used to be a realtor and told me when I bought my home in Livonia in 1990 after growing up and going through school here that I should have bought 20 miles further west ( did he know something already?, unfortunately I will never know since he has long passed away). He explained to me that one of the greatest reasons Livonia homes are overvalued is because of the demand, and one of the hottest demands on the housing was the school district.

Does that tell us all something about why we live here!
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Anna Krome
Principal
Buy low, sell low, does not sound that bad sometimes. Depends on your equity and future plans.

Prices are a result of supply and demand. There is declining demand for Livonia homes, because LI has reduced the "good will" or "intrinsic value" of our properties.

Other reasons include older homes, quite affordable, but not the no-money-down McMansions popping up in growing communities, such as our favorite one--NOVI.

Livonia has been flying on that survey that came out--what 10 years ago--saying that our city was a great one to raise kids in because of the school system, et. al.

That survey's results have been touted by realtors quite freely--until now.

Anna Krome

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parentsw/power
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Principal
Anna Krome
Dec 29 2005, 03:13 PM
Buy low, sell low, does not sound that bad sometimes. Depends on your equity and future plans.

Prices are a result of supply and demand. There is declining demand for Livonia homes, because LI has reduced the "good will" or "intrinsic value" of our properties.

Other reasons include older homes, quite affordable, but not the no-money-down McMansions popping up in growing communities, such as our favorite one--NOVI.

Livonia has been flying on that survey that came out--what 10 years ago--saying that our city was a great one to raise kids in because of the school system, et. al.

That survey's results have been touted by realtors quite freely--until now.

Anna Krome

Our house went down in value $50,000 since last year this time. Imagine how much further it will go down if the LI goes into place. A realtor friend of mine said her business has suffered slightly due to this LI.
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Iliveon-Levandownbytheriver
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Principal
I am a REALTOR...I am currently taking a break however for the Holidays and slow market....

My personal opinion is this...home values are inflated in alot of communities. Michigan is not a great place for real estate right now...unfortunatly. As far as Novi...people are taking big hits on their homes right now. That is why I did not buy there....too over inflated!

The LI..I think will hurt some subs and not affect others. Im sorry to say that. When looking for a home in a city that you want...and you have school children..you typically look for a sub that is very close to schools. Alot of REALTORS also provide school info to buyers looking in that area...or at least direct that buyer to a website where they can find that info. When LPS goes to the K-4 config...it will hurt some subdivisions and not affect others in the same way. Unforunatly...I live in a sub where the elem school is closing...and my daughter will be bussed quite a way to the 5/6 school.

Think about this...if you are an outsider...looking to move, and schools are important to you, then you have a big decision to make here. Novi homes are smaller...more expensive, have the same config for the schools and better scores......however it is better planned out than LPS...same campus...closer proximity to schools.....etc. Northville is the acception that has the k-6 model and some of Novi does go to Northville Schools. The homes can be quite pricey there as well.

Our neighboring communities..such as Farmington and Plymouth/Canton, have great scores..have compariable homes prices and sizes and and have the K-6 model. So if they do not like the k-4 model...then these cities are a great choice..and I think we will lose some potential buyers from Livonia.

Not everyone has kids...some people will be happy or will not mind the config..if Livonia is a great upgrade in schools for them.

Personally....I just moved here....I cannot sell my home, I do not have the equity to do so. I am scared to see if alot of parents move their children from the district...what affect will that have on the school system. But unfortunatly...i feel the BOE did not really take a deep look into that.


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Rose
Principal
I thought Plymouth-Canton had a K-5. Anyway, I have family in Canton. We all grew up in Livonia, I stayed, they left. When they left I thought....why? Now I know why. As I have said, Canton's homes are reasonable but are getting more expensive. Taxes are higher there too......but they have new schools with air-conditoning and new businesses popping up everywhere....unlike Livonia. Everywhere you look, we have vacant businesses. Makes me sad when we may not even be able to boast about our schools.
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Anna Krome
Principal
I love Livonia so much, I think about its future.

I see a beautiful cooperation of neighborhoods, much as we have now, with unique offerings--and all w/ a heart--the k-6-8 school.

Our kids are our hearts. We need them close by.

Anna Krome

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Rose
Principal
Anna Krome
Dec 29 2005, 06:34 PM
I love Livonia so much, I think about its future.

I see a beautiful cooperation of neighborhoods, much as we have now, with unique offerings--and all w/ a heart--the k-6-8 school.

Our kids are our hearts. We need them close by.

Anna Krome

I love Livonia too. I have lived here most of my life. I just hope my children will grow up and love Livonia as I do........that is why I am against the LI.
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moveon
Principal
Anna Krome
Dec 29 2005, 06:34 PM
I love Livonia so much, I think about its future.

I see a beautiful cooperation of neighborhoods, much as we have now, with unique offerings--and all w/ a heart--the k-6-8 school.

Our kids are our hearts. We need them close by.

Anna Krome

That put tears in my eyes. It is the people that make a community what it is....when are all of you going to understand that? :huh:
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lpsproposalsrbad
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Principal
The Schools AND the community are what draw people to Livonia. Couldn't you say then in our situation, the "people are making the community what it is". I've never heard the phrase "The Board of Education - ALONE makes the community what it is."

Believe me... I understand.
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parentsw/power
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Principal
Iliveon-Levandownbytheriver
Dec 29 2005, 05:23 PM
I am a REALTOR...I am currently taking a break however for the Holidays and slow market....

My personal opinion is this...home values are inflated in alot of communities. Michigan is not a great place for real estate right now...unfortunatly. As far as Novi...people are taking big hits on their homes right now. That is why I did not buy there....too over inflated!

The LI..I think will hurt some subs and not affect others. Im sorry to say that. When looking for a home in a city that you want...and you have school children..you typically look for a sub that is very close to schools. Alot of REALTORS also provide school info to buyers looking in that area...or at least direct that buyer to a website where they can find that info. When LPS goes to the K-4 config...it will hurt some subdivisions and not affect others in the same way. Unforunatly...I live in a sub where the elem school is closing...and my daughter will be bussed quite a way to the 5/6 school.

Think about this...if you are an outsider...looking to move, and schools are important to you, then you have a big decision to make here. Novi homes are smaller...more expensive, have the same config for the schools and better scores......however it is better planned out than LPS...same campus...closer proximity to schools.....etc. Northville is the acception that has the k-6 model and some of Novi does go to Northville Schools. The homes can be quite pricey there as well.

Our neighboring communities..such as Farmington and Plymouth/Canton, have great scores..have compariable homes prices and sizes and and have the K-6 model. So if they do not like the k-4 model...then these cities are a great choice..and I think we will lose some potential buyers from Livonia.

Not everyone has kids...some people will be happy or will not mind the config..if Livonia is a great upgrade in schools for them.

Personally....I just moved here....I cannot sell my home, I do not have the equity to do so. I am scared to see if alot of parents move their children from the district...what affect will that have on the school system. But unfortunatly...i feel the BOE did not really take a deep look into that.

Northville has K-5, 6-8 and 9-12 model.
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JEM
Principal
...
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