GMAR Metropolitan Realtor Magazine - September 2021 Issue

Official Publication of the Greater Metropolitan Association of REALTORS®

SEPTEMBER 2021GMARonline.com

Official Publication of the Greater Metropolitan Association of REALTORS®

Keeping You

and Your

Agents Safe

MORE INFORMATION ON PAGE 3

Table of Contents

SEPTEMBER 2021

VOLUME 18, NUMBER 9

the official publication of the

Greater Metropolitan

Association of REALTORS®

24725 W Twelve Mile Rd, Ste 100,

Southfield, MI 48034

248-478-1700

www.GMARonline.com

President: Katie Weaver

President Elect: Teri Spiro

Treasurer: Nathan Boji

Past President: James Cristbrook

DIRECTORS

District 1: Rob Shaffer

District 2: Steven Gottlieb

District 4: Dee Dee Ohara-Blizard

District 7: Toni Jennings

At Large Director: Pam Bartling

At Large Director: Michael Brown

At Large Director: Devon Smith

At Large Director: Frank Tarala

Affiliate Director: Mary Ross

STAFF

Vickey Livernois, Chief Executive Officer

Stacie Andrew, Member Outreach Coordinator

Traci Dean, Education Coordinator

Marnie Gray, Accountant

Caryn MacDonald, Executive Assistant

Pauline Olszewski, Professional Standards Administrator

& Toolshop™ Manager

Kevin Tshiamala, Marketing & Communications Director

Hannah Deacon, Event Manager

Michigan State Housing Development Authority ............................................ 5

Read more on Mr. Brown's story:

Black real estate agent, clients handcuffed

outside of Michigan home they were viewing

(nbcnews.com)

Also, over the years many reports have come

out regarding lower home appraisal values

when the owners are black. Black Homeowners

looking for a fair appraisal have gone so far as

to have a white friend pose as the owner and

remove family photos. The difference in values

are astonishing. Shameful really.

Black, white, red or blue, equal is equal. With

everything else going on in the world today,

seems like we could at the very least, get this

one right.

President Biden Takes on Home Appraisals

That Hurt Black Homeowners (realtor.com)

I highly encourage every REALTOR to become

part of the solution by completing the NAR

Diversity Challenge by completing all three

training sessions. You'll be surprised at how

much you'll learn!

Fairhaven, At Home with Diversity

Certification, Implicit Bias Training.

Fairhaven.realtor online simulation course

Implicit Bias Training

We would love to have you join GMAR's

Diversity and Inclusion Committee, go to:

www.GMARonline.com

The National Association of Realtors® is

America's largest trade association, representing

more than 1.4 million members involved in all

aspects of the residential and commercial real

estate industries.

Metropolitan REALTOR® | 5

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Equal Housing Employer/Lender

CEO’S LETTER

By VICKEY LIVERNOIS

Chief Executive Officer

Not all Associations are created equally

As you read this article, the staff at GMAR are

in full “dues season” mode. This time of the year

seems to come quickly for us; I am sure those

of you who are Premier members may feel the

same way.

First, let me start by confirming that your

GMAR membership dues have not increased in

YEARS! The Board of Directors fully believes and

lives up to their goal of providing extraordinary

benefits while keeping the fees low to our

members at just $150 per year. As GMAR is

the local association, we collect the Michigan

Realtors® and the National Association of

Realtors® annual dues.

While I hope that we have done an excellent

job explaining the various benefits of

membership, such as education, networking,

and so on, I want to take a quick moment to

highlight what makes GMAR Greater.

One of the most important and most

surprising items that many members I speak to

are unaware of is the fact that being a Realtor®,

you not only abide by the Code of Ethics, but

you also have the agreement of cooperation and

compensation with other Realtors®. That’s right;

you have the ability to be PAID for the work you

do when representing a buyer or seller.

But what about GMAR?

What makes us #Greater?

Why are we the local association that you

should entrust your industry membership with?

With the extraordinary educational

opportunities available to members both

online and in-person, with some very affordable

options, we have trained more Realtors® than

any other association in the state and more than

most across the country.

We bring our members the latest education

you need to be successful, to be able to answer

your client’s questions on the fly. We also provide

the tools and resources you need to be the

critical point of contact for your clients.

We are also the best grassroots protection in

the industry. GMAR is very involved in ensuring

that we continue to protect the industry and

homeownership rights. We are out there,

attending city council meetings and meeting

with local legislators to share our viewpoints

with local legislators so you can continue to

do business in the different communities, such

as placing a for sale sign on the property. In

addition, our staff and volunteers work tirelessly

to interview candidates running for office to

ensure they are Realtor friendly and understand

the concerns we share. While much of this work

is done behind the scenes, we always ensure

we keep our members top of mind so you

can continue to do business without harmful

legislation restricting how you do business.

GMAR Gives Back! Each year, GMAR gives

thousands of dollars to local communities

through our placemaking grants, and volunteers

give their time to clean up public spaces. We

also give back not only to our members but

to their families too through our Scholarship

Program, which provides funding to further their

education or assist with college expenses for

their children.

The list really does go on.

I think if you’ve had the opportunity to get

involved, you see that our staff and leadership

are here to make this the Greatest Association

and to make everyone feel welcome to our

GMAR Family!

There are friendships made, some lessons

learned, and knowledge gained that all add to

the fantastic experience.

So, in closing, I ask you not to be a member

because “you have to,” but to get involved.

Join a committee, attend some educational

courses, take part in our events, stop by our store

to pick up some Realtor® gear, or grab a cup of

coffee and chat! We are here to help you be a

Greater Realtor!

Metropolitan REALTOR® | 7

8 | Metropolitan REALTOR®

Land Banks on the Rise

LEGISLATIVE UPDATE

By TRAVIS GREER

GMAR Director of Realtor®

and Community Affairs

More communities are turning to land banks

to help address vacant, abandoned, and tax-

delinquent properties. Since 2010, over 200

land banks have launched nationwide, said

Brian Larkin, director of the National Land Bank

Network at the Center for Community Progress.

Land banks acquire and maintain distressed

properties with the goal of transferring them

back to responsible ownership and productive

use, thereby aiding the revitalization of

communities.

Larkin spoke on Tuesday at the National

Association of REALTORS®’ “Land Banks: A Tool

for Recovery and Stabilization” webinar. He

presented the findings from NLBN’s “State of

Land Banks” survey, which invited land banks

throughout the U.S. to share their data to help

assess the impact that the entities are having

on vacant and abandoned properties. Sixteen

states currently have comprehensive enabling

legislation, which grants states the authority

they need to intervene and act on tax-foreclosed

properties, and an additional three have state

enabling legislation, which supports actions by

cities and counties. According to Larkin, states

need more of both. “Land banks are public

entities,” he said. “All action starts with the state,

and that’s where we need to see legislation.

State laws enable the processes that expedite

and clear the titles to distressed property.”

Funding for land banks is another area

where action is required. The survey found

that 47% of land banks have a staff of one full-

time equivalent employee or less. And 50% of

land banks don’t have the data and software

necessary to identify current and potential

inventory. “There is a huge need here,” said

Larkin. “Land banks are looking to chart their

future, and they need greater resources.”

Three federal bills that have the potential

to provide some of the much-needed funding

that could help land banks carry out their

work, Larkin said. The American Rescue Plan

Act, enacted in March, includes $360 billion

in funding for state, local, and territorial

governments for economic relief; the recently

introduced Restoring Communities Left Behind

Act could offer up to $5 billion to address

community distress; and the still-in-the-works

National Land Bank Network Act could provide

up to $60 million specifically for cash-strapped

land banks. “These bills all represent ways in

which creative funding can be available for land

banks,” said Larkin. “These funds could be used

to create vibrant communities.”

Other highlights from the survey:

• Land banks have a median of 40 properties

but an average of 1,887 properties.

• Michigan and Ohio have the largest number

of properties. In Ohio, Cleveland has 3,000,

while in Michigan, Detroit has the most with

82,000.

• 87% of parcels held by land banks are vacant

lots.

These vacant lots are where land banks can

be particularly proactive partners, said Larkin.

Land banks can help with strategizing—

positioning properties to be the best value for

the community around them. “We not only look

at what is good for the individual property, but

also what is good for the property right next

to it. Land banks prioritize residents and the

community around them.”

The webinar was the fifth in NAR’s six-

part “Policy, Practice, Process: Transforming

Neighborhoods Through Equitable

Revitalization” series. Sign up for the final

webinar: https://realtorparty.realtor/events/

policy-practice-process-webinars

Metropolitan REALTOR® | 9

10 | Metropolitan REALTOR®

Abdallah, Ahmad–Temple Realty LLC

Alali, AAshahla–KW Home Realty

Appelbaum, Rochelle–KW Home Realty

Awades, Julian–Keller Williams Paint Creek

Bal, Kanwaljit–Chana Realty LLC

Barrett, Robert–Sharco Realty, LLC

Bawden, Charles–Keller Williams Realty Central

Beatty, David–Coldwell Banker Weir Manuel Bi

Becka, Admir–KW Advantage

Beeks, Alan–EXP Realty, LLC

Bell, Virginia–C Miles Realty LLC

Binder, Krystal–KW Professionals

Blandon, Daniel–KW Domain

Brantley, Chelsea–Coldwell Banker Weir Manuel

Bratcher, Donte'–National Realty Centers Northv

Breadiy, Oraibe–Berkshire Hathaway HomeService

Brewer, Joseph–Rocket Homes Real Estate LLC

Broder, Jordan–Broder Portfolio LLC

Broder, Merrilee–Broder Portfolio LLC

Brown, Richard–Keller Williams Somerset

Brundage-Forrest, Darryn–More Group Michigan, LLC

Budnick, Zachary–Rocket Homes Real Estate LLC

Burich, Mattew–Keller Williams Realty Central

Campbell, Kurt–Pepper Park Realty, LLC

Ceci, Matthew–Weichert, Realtors-Select

Chahin, Christopher–Real Estate One Novi

Chalifour, Tracey–Resource Realty Group

Chen, Chao–1st. Michigan Realty LLC

Christian, Jacques–Rocket Homes Real Estate LLC

Clark, Johnny–Clients First, Realtors®

Clevenger, Randy–RE/MAX Leading Edge

Conn, Michael–KW Advantage

Croft, Katy–Re/Max Defined

Cruz, Lazaro–Vision Realty Centers, LLC

Dallo, Kevin–EXP Realty, LLC

Dancik, Alexis–KW Professionals

Dardashtian, Zeinab–KW Advantage

Davies, Austin–KW Advantage

Dell, Corey–Real Living Kee Realty SCS

Desmier, Gleville–Signature Sotheby Internationa

Desmier, Shane–Signature Sotheby Internationa

Dozier, Keith–Century 21 Curran & Oberski

Dumanois, Bethany–Brookstone, Realtors

Duplessis, Tiasia–KW Advantage

Edwards, Jeanne–KW Advantage

Emerson, Jason–EXP Realty, LLC

Fered, Carolyn–@properties Collective

Firestone, Anna Maria–Preferred, Realtors Ltd

Ford, Felicia–Century 21 Curran & Oberski

Fortuna, Terrence–Berkshire Hathaway Home Servic

Fountain, Ricky–Century 21 Curran & Oberski

Fox, Megan–Andover Real Estate

Freer, Brittan–Hinton Real Estate Group

Gade, Subrahmanyam–EXP Realty, LLC

Gentry, Holly–Brookstone, Realtors

Gittler, Ashley–Real Living Kee Realty

Gooch, Gabrielle–Keller Williams Metro

Grant, Donald–21 United Realty

Grant, Vickie–21 United Realty

Graves, Kelly–Century 21 Curran & Oberski

Gutman, Andrew–The Farban Group

Hall, Tashaynara–Superior Home Realty

Hanna, Firas–Great Lakes Real Estate Agency

Harbin, Aaron–KW Advantage

Harris, Adriana–RichRealty

Harris, Kenaeya–C Miles Realty LLC

Hayward, Steven–Woodward Square Realty, LLC

Hildebrand, Ryan–Rocket Homes Real Estate LLC

Hoch, Shawn–Michigan Power Brokers LLC

Holman, Shawn–Rocket Homes Real Estate LLC

Homan, Monique–Keller Williams Realty Central

Hunt, Susan–Real Estate One Rochester

Hussey, Aidan–M 1 Realty Inc.

Jenuwine, Amanda–Keller Williams Metro

Jernigan, Dardnella–Ambassador Real Estate Inc.

Jones, Paul–EXP Realty, LLC

Jones, Dawanna–Real Estate One

Jones, Jeffrey–Sahara Real Estate Group

Jones, Tracy–Keller Williams Somerset

Jones, Lamont–Life Inside Realty LLC

Kalaj, Chelsea–Keller Williams Metro

Kaounas, George–True Realty LLC

Kassem, Mohamed–KW Professionals

Kelly, LaToya–MV Realty of Michigan

Kennedy, Virginia–LighthouseReal Estate Group

Konarzewski, Anthony–Arterra Realty Clinton Twp

Kowalik, Kevin–Brookstone Realtors LLC

Kushon, John–KW Advantage

Lambarth, Kory–Good Company Realty

Lawrence, Bestina–The Lane Agency

Lee, Daric–EXP Realty, LLC

Lemond, Quinton–Keller Williams Metro

NEW MEMBERS

Levesque, Julia–Real Estate One Novi

Locke, Rory–Woodward Square Realty, LLC

Loka, Madhavi–Real Estate One Novi

Long, Sharon–KW Advantage

Magnavita, Thatyana–EXP Realty, LLC

Mancuso, Victor–KW Professionals

Manley, Emily–KW Advantage

Massey, Christopher–EXP Realty, LLC

McGee, Summer–Keller Williams Metro

McKinney, Riley–Rocket Homes Real Estate LLC

McMillan, Jessica–Rocket Homes Real Estate LLC

Mendoza Herrera, Andreina–EXP Realty, LLC

Mendoza-Herrera, Daniella–EXP Realty, LLC

Miller, Judith–KW Advantage

Monti, Carolyn–Remerica Hometown III

Moore, Darnell–KW Professionals

Morgan, Justn–Rocket Homes Real Estate LLC

Morgan, Donnavan–EXP Realty, LLC

Morris, Gregory–MV Realty of Michigan

Mosley, Aisha–EXP Realty, LLC

Mucka, Philip–Woodward Square Realty, LLC

Mueller, Mitchell–RE/MAX Advisors

Notarantonio, Kristine–KW Professionals

Nouna, Martin–Oracle Realty, LLC

Owen, Kelli–Keller Williams Somerset

Pace, Joseph–Keller Williams Realty Central

Pagac, Julia–Moving The Mitten RE Group

Patrick, Shania–C Miles Realty LLC

Patterson, Janay–Hinton Real Estate Group

Pena, Dominic–Rocket Homes Real Estate LLC

Perry, Milton–Front Page Properties

Polley, Andrea–EXP Realty, LLC

Ponders, Charlie–Keller Williams Metro

Preiss, Stephanie–KW Advantage

Pritula, Nicholas–Century 21 Curran & Oberski

Protske, Max–Century 21 Curran & Oberski

Quinn, Noelle–Howard Hanna Birmingham

Racine, Brittany–Real Estate One, Inc Central

Ramo, Delon–Vision One Realty

Rice, LaShakur–EXP Realty, LLC

Robinson, Roxanne–KW Home Realty

Robinson, Troy–Keller Williams Realty Central

Rothchild, Sherrie–EXP Realty, LLC

Sandiha, Stavro–KW Advantage

Sayig, Bridjet–KW Professionals

Scott, Travis–EXP Realty, LLC

Scott, Ivator–KW Advantage

Selley, Kimberly–Michael Group Realty LLC

Shalari, Sara–Max Broock, REALTORS, Brmnghm

Shanks, Cody–Rocket Homes Real Estate LLC

Silorey, Joseph–Brookstone, Realtors

Sivanandham, Shanthi–KW Advantage

Smith, Tracey–Woodward Square Realty, LLC

Snipes, Carletta–EXP Realty, LLC

Sokolowski, Nathan–Realty Executives Home Towne

Spitler, Riley–Century 21 Curran & Oberski

Talifer, Derek–Coldwell Banker Weir Manuel

Tang, Yun–Crown Properties International

Tankersley, Wendy–Remerica United Realty

Taylor, Robyn–KW Advantage

Thayer, Michelle–Janis Degreory & Associates

Theakston, Elianna–Key Realty One

Thomas, Brittany–EXP Realty, LLC

Tolford, Karena–Red Barn Realty LLC

Tyler, Aubrie–Coldwell Banker Town & Country

Venetico, Laurence–Rockpointe Properties LLC

Vigliotti, Aubuney–Fathom Realty

Vogelezang, Shannon–Expert Realty Solutions Inc.

Wakerly, Taylor–Arterra Realty Michigan LLC

Walker, Ashley–Community Choice Realty

Washington, Glenn–Keller Williams Paint Creek

Webb, Amy–Goedert Real Estate

Wieczorek, Nathan–Woodward Square Realty, LLC

Williams, Latoia–EXP Realty, LLC

Wims, Courtney–Great Lakes Real Estate Agency

Yazjie, Nebal–Community Choice Realty

Yoo, Alexandria–Pro Realty, LLC

Zetuna, Martin–EXP Realty, LLC

Metropolitan REALTOR® | 11

We Couldn’t Do It

Without You

THANK YOU ORIENTATION SPONSORS

FOR THE MONTH OF JULY 2021:

GALLOWAY & COLLENS, PLLC

12 | Metropolitan REALTOR®

RPAC REPORT

By GORDON MCCANN

GMAR RPAC Chair

What RPAC Does for You

What does RPAC do for me is a common

theme among those who do not invest in their

future income. We do this by acting as one voice,

known as The REALTOR® Party, that is you. It

is a powerful alliance of REALTORS® and NAR,

and Michigan Realtors® Association working

to protect and promote homeownership and

property investment. The REALTOR® Party speaks

with one voice to advance candidates that build

strong communities and promote a vibrant

business environment.

How is this done, you might ask. The REALTOR®

Party is effective at all levels of government

because of its grassroots strength. That strength

is exhibited in advocacy as well as community

involvement. Advocacy Everywhere is designed

to expand the influence of the National

Association of REALTORS®, Michigan Realtors®,

and GMAR Associations on public policy at the

local, state, and federal levels and to increase

REALTOR® and consumer participation in calls

for action (CFA). With the mobile alerts thru text

messaging, the Call for Action request gives

us the strength of 1-2 hour notifications and

responses to our members of congress within 3

to 4 hours.

The collective force of real estate professionals

is 1,400.000

nationwide, 34,000 Realtors® in Michigan, and

at GMAR, we have the joint influence of over

10,000 Realtors® when we advocate on your

behalf.

Some of our victories this year are the Short-

Term rental protections bill, the first-time

buyer's savings account. Other areas include

Unemployment insurance for Independent

Contractors and the ability for Realtors® to have

group health insurance. These and many more

advocacy issues are some of the returns you are

receiving on your RPAC investment at GMAR.

Join us for this free virtual lunch and learn event

from the comfort of the couch and learn more about

launching your international real estate portfolio. Get

the answers to questions like: How do I start my global

business? Where do I begin? When should I begin? And

what resources are available?

Our guest speaker is Dee Dee Ohara Blizard, Broker/ Owner

of Global Real Estate Consulting LLC, a boutique real estate

firm that helps clients buy, sell or invest in real estate with

border-free positioning. In her 24+ years in real estate, Dee

Dee's real estate & consulting experience has touched the

United States, Japan, France, China, Singapore, Brazil, Ireland,

England, Mexico, and Cyprus.

JUMPSTART YOUR

GLOBAL BUSINESS!

Metropolitan REALTOR® | 13

RPAC INVESTORS

Thank You GMAR

RPAC Investors

GMAR would like to extend a sincere thank you to all of the members who have made their investment in RPAC, the REALTORS® Political Action

Committee. By investing in RPAC, these members are supporting REALTOR®-friendly legislators and policy initiatives that reflect the REALTOR® core

values; protecting private property rights, reducing burdensome regulations on the industry and preserving the American Dream of Homeownership.

Below we recognize and applaud GMAR members who invested in RPAC for the month of July 2021.

Joseph Anderson

Robbin Barnes

Christin Bracken

Loretta Brown

Lora Carlton

Deborah Consiglio

Debra DeAngelo

Melissa Degen

Warren Greenwood

Elizabeth Harris

Richard Harrison

Kevin Hultgren

Lorraine James

Ronald Jasgur

Frances Johnson

Mary Anne Kennedy

Mark Lagana

James Littlepage

Judith Lovrince

Shana Maitland

Roger Martin

Shannon Monaco

E'toile O'Rear-Libbett

Jeffrey Packer

Gary Reggish

Elizabeth Rogers

Jaye Sanders

Adam Shepherd

Theresa Spiro

Greg Taylor

Eva Vermeesch

Christopher Waring

Jamillah Watkins

Katie Weaver

Mark Webberly

Misty Weisenberger

Mary Wolfe

Jerry Yatooma

Michelle Zarghami

*Contributions are not deductible for Federal income tax purposes. RPAC contributions are voluntary and used for political purposes. You may refuse to contribute without reprisal or

otherwise impacting your membership rights. For individuals investing $1,000.00 or greater, up to 30% of this total investment may be forwarded to the National Association of REALTORS®

RPAC. All amounts forwarded to the National Association of REALTORS® RPAC are charged against the applicable contribution limits under 2 U.S.C. 441a

14 | Metropolitan REALTOR®

FROM AN AFFILIATE

By RENEE SMITH

2021 GMAR Affiliate Committee Chair

Title Partners/Business Development Manager

[email protected]

Winding Down Summer

As we celebrate the beginning of September

with the Holiday we know as Labor Day,

including parades, picnics, barbecues, and

fireworks displays, it is essential to know that this

Holiday resulted from a time of unrest back in

the 1800s. Adults and even children worked 12+

hour days seven days a week (not unlike our real

estate industry these days!!).

Eventually, labor unions began to form, and

the workers started to strike due to unsafe

working conditions and unfair pay. In hoping to

repair ties with the unions and workers, congress

decided to make Labor Day a legal Holiday

giving the laborers a day to rest. This led to many

celebrations on the first Monday of September,

which we know as Labor Day, and sadly brings us

to an end of the summer season and an exciting

return to school for the kiddos here in Michigan!

Although as sad as we are to see summer come

to an end, it is also exciting to have one of the

most beautiful seasons we have in our great state

begin! The fall is a time for cider mills, color tours

throughout the state, bonfires, and so much

more!

Your affiliate committee hopes you have had

a chance to enjoy your summer and know we

are always here to assist you and your clients

through the seasons of the real estate market!

Below please find a great site to locate events

happening through out the state in September!

https://www.travel-mi.com/September-

Michigan.html

NAR CODE OF ETHICS

CE Credits: 3 Standard

September 8

9:00 a.m.- 12:00 p.m.

1:00 p.m.- 4:00 p.m.

VIRTUAL & In- House

Instructor: Diane Kroll

FREE: Membermax & Edupass

$10, Non-Members

ACCREDITED BUYER’S REPRESENTATIVE

DESIGNATION (ABR)- 3 DAYS

CE Credits: 13 standard, 2 legal

September 8-10

12:00 p.m. – 4:00 p.m.

VIRTUAL

Instructor: Deanna DuRussel

FREE,Membermax & EduPass

$99, Members

$115, Non-Member

REAL ESTATE SAFETY MATTERS: SAFE BUSINESS

NAR Safety Course

CE Credits: 3 Elective

September 10

10:00 a.m.- 1:00 p.m.

VIRTUAL & In- House

Instructor: Furhad Waquad

FREE,Membermax & EduPass

FREE, Members

$20 ,Non-Members

MSHDA

CE Credits: 1 standard

September 13

10:00 a.m. – 11:00 a.m.

VIRTUAL

Instructor: Darren Montreuil

FREE,Membermax & EduPass

FREE, Members

$25, Non- Members

GMAR STANDARD CONTINUING EDUCATION

CE Credits: 3 standard| 3 legal

September 15

9:00 a.m. – 3:00 p.m.

VIRTUAL

Instructor: Diane Kroll

FREE,Membermax & EduPass

FREE, Members

$35, Non-Members

BROKER SHORTS-LEGAL QUESTIONS

CE Credits: 2 Legal

September 16

1:00 p.m. – 3:00 p.m.

VIRTUAL

Instructor: Deanna DuRussel

FREE,Membermax & EduPass

$20, Members

MEMBERS ONLY

Broker & Associate Brokers Only

FEMA & FLOOD ZONE COURSE

CE Credits: 2 legal

September 17

10:00 a.m. – 12:00 p.m.

VIRTUAL & In- House

Instructor Karol Grove

FREE

GUIDANCE TO COMPLIANCE

CE Credits: 2 legal

September 20

1:00 p.m. – 3:00 p.m.

VIRTUAL

Instructor: Deanna DuRussel

FREE,Membermax & EduPass

FREE, Members

$20, Non-Members

NAR MARKETING STRATEGY & LEAD

GENERATION

CE Credits: 8 standard

September 22

9:00 a.m. – 5:00 p.m.

VIRTUAL & In- House

Instructor: Diane Kroll

FREE,Membermax & EduPass

$79, Members

$119, Non-Members

GMAR STANDARD CONTINUING EDUCATION

CE Credits: 3 standard| 3 legal

September 24

9:00 a.m. – 3:00 p.m.

VIRTUAL & In- House

Instructor: Diane Kroll

FREE,Membermax & EduPass

FREE, Members

$35, Non-Members

RESORT & SECOND HOME (RSPS)- 2 DAYS

** Must attend both days**

CE Credits: 7 standard

September 29 & 30

9:00 a.m. – 12:30 p.m.

VIRTUAL

Instructor: Rick Conley

FREE,Membermax & EduPass

$39, Members

$49, Non-Member

REAL ESTATE PROFESSIONAL ASSISTANT

(REPA)- 2 DAYS

CE Credits: 14 standard & 1 legal

September 28 & 29

9:00 a.m. – 4:00 p.m.

VIRTUAL & In- House

Instructor: Bart Patterson

FREE,Membermax & EduPass

$100, Members

$150, Non-Member

GMAR EDUCATION CALENDAR 2021

SEPTEMBER VIRTUAL & IN-HOUSE CLASSES

REALCOMP MONTHLY HOUSING STATISTICS

REPORT NOW AVAILABLE ONLINE

16 | Metropolitan REALTOR®

Local Market Update – July 2021

Research Tool Provided by Realcomp

GMAR® Report

Covers the Greater Metropolitan Area of Detroit, including but not limited to locales in Lapeer, Macomb, Oakland, Washtenaw and Wayne

Counties.

Residential

July Year to Date

Key Metrics 2020 2021 % Change Thru 7-2020 Thru 7-2021 % Change

New Listings 6,744

6,815

+ 1.1% 34,353

36,753

+ 7.0%

Pending Sales 5,442

4,691

- 13.8% 25,785

29,394

+ 14.0%

Closed Sales 5,394

4,492

- 16.7% 22,478

27,176

+ 20.9%

Days on Market Until Sale 38

- 52.6% 45

- 44.4%

Median Sales Pri

ce* $212,000

$235,950

+ 11.3% $185,000

$215,185

+ 16.3%

Average Sales Price* $255,043

$284,567

+ 11.6% $225,841

$268,656

+ 19.0%

Percent of List Price Received* 98.9%

102.6%

+ 3.7% 97.7%

101.4%

+ 3.8%

Inventory of Homes for Sale 8,329

6,746

- 19.0% ––

––

Months Supply of Inventory 2.3

1.6

- 30.4% ––

––

Condo

July Year to Date

Key Metrics 2020 2021 % Change Thru 7-2020 Thru 7-2021 % Change

New Listings 1,289

1,142

- 11.4% 6,623

7,094

+ 7.1%

Pending Sales 970

868

- 10.5% 4,652

,944

+ 27.8%

Closed Sales 973

832

- 14.5% 4,171

5,537

+ 32.7%

Days on Market Until Sale 43

- 53.5% 48

- 31.3%

Median Sales Price* $176,000

$206,550

+ 17.4% $171,650

$196,500

+ 14.5%

Average Sales Price* $201,768

$238,966

+ 18.4% $204,368

$233,833

+ 14.4%

Percent of List Price Received* 97.9%

101.2%

+ 3.4% 97.5%

99.9%

+ 2.5%

Inventory of Homes for Sale 1,973

1,321

- 33.0% ––

––

Months Supply of Inventory 3.0

1.6

- 46.7% ––

––

* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded ﬁgures and can sometimes look extreme due to small sample size.

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

Median Sales Price - Residential

Rolling 12-Month Calculation

All MLS

GMAR® Report

1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019 1-2021

$50,000

$100,000

$150,000

$200,000

$250,000

Median Sales Price - Condo

Rolling 12-Month Calculation

All MLS

GMAR® Report

1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019 1-2021

$50,000

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

Metropolitan REALTOR® | 17

18 | Metropolitan REALTOR®

FOR IMMEDIATE RELEASE

Statistics Contact:

Francine L. Green, Realcomp II Ltd. [248-553-3003, ext. 114], fgreen@corp.realcomp.com

Days on Market (DOM) for Homes Decreases to All-Time Low of 3 Weeks

in July,

July Real Estate Market Commentary:

The White House recently announced additional measures to help struggling homeowners avoid foreclosure as

they exit forbearance, including loan modifications and payment reductions. Borrowers with federally backed

mortgages can lock in lower interest rates and extend the length of their mortgages. For borrowers who can’t

resume their monthly mortgage, HUD will offer lenders the ability to provide all eligible borrowers with a 25%

principal and interest reduction.

Closed Sales decreased 19.4 percent for Residential homes and 19.6 percent for Condo homes. Pending Sales

decreased 18.4 percent for Residential homes and 21.3 percent for Condo homes. Inventory decreased 27.8

percent for Residential homes and 38.7 percent for Condo homes.

The Median Sales Price increased 13.0 percent to $243,000 for Residential homes and 18.9 percent to $220,000

for Condo homes. Days on Market decreased 63.6 percent for Residential homes and 56.1 percent for Condo

homes. Months Supply of Inventory decreased 36.0 percent for Residential homes and 50.0 percent for Condo

homes.

The National Association of REALTORS

reported inventory of homes for sale nationwide rose slightly in June as

more sellers list their homes, hoping to take advantage of record-high sales prices across the country. Even with

renewed home seller interest, inventory overall remains 18.8% lower than a year ago, according to NAR.

Metropolitan REALTOR® | 19

July 2021

Jul-21 Jul-20 % Change Jul-21 Jul-20 % Change Jul-21 Jul-20 % Change Jul-21 Jul-20 % Change

All MLS (All Inclusive) 11,929 14,800 -19.4% $240,000 $211,000 +13.7% 21 55 -61.8% 17,756 25,138 -29.4%

City of Detroit* 328 381 -13.9% $70,000 $55,000 +27.3% 43 70 -38.6% 1,265 1,706 -25.8%

Dearborn/Dearborn Heights* 184 250 -26.4% $187,250 $162,500 +15.2% 13 28 -53.6% 264 311 -15.1%

Downriver Area* 408 528 -22.7% $180,000 $146,000 +23.3% 12 29 -58.6% 480 595 -19.3%

Genesee County 520 701 -25.8% $189,350 $169,900 +11.4% 16 47 -66.0% 810 880 -8.0%

Greater Wayne* 1,449 1,896 -23.6% $210,000 $180,000 +16.7% 13 32 -59.4% 1,865 2,449 -23.8%

Grosse Pointe Areas* 77 134 -42.5% $370,000 $350,000 +5.7% 21 56 -62.5% 158 237 -33.3%

Hillsdale County 49 82 -40.2% $145,000 $157,950 -8.2% 48 88 -45.5% 118 135 -12.6%

Huron County 12 21 -42.9% $108,500 $122,000 -11.1% 56 110 -49.1% 41 55 -25.5%

Jackson County 275 246 +11.8% $189,000 $172,500 +9.6% 44 72 -38.9% 497 411 +20.9%

Lapeer County 93 139 -33.1% $275,000 $230,000 +19.6% 22 49 -55.1% 218 268 -18.7%

Lenawee County 145 180 -19.4% $184,000 $175,000 +5.1% 52 76 -31.6% 312 318 -1.9%

Livingston County 326 412 -20.9% $348,500 $294,950 +18.2% 20 38 -47.4% 456 642 -29.0%

Macomb County 1,338 1,599 -16.3% $230,000 $199,900 +15.1% 17 36 -52.8% 1,608 2,012 -20.1%

Metro Detroit Area* 5,410 6,751 -19.9% $253,000 $226,000 +11.9% 18 36 -50.0% 8,117 10,768 -24.6%

Monroe County 206 224 -8.0% $215,000 $181,000 +18.8% 25 47 -46.8% 326 360 -9.4%

Montcalm County 81 105 -22.9% $206,000 $160,000 +28.8% 19 81 -76.5% 114 134 -14.9%

Oakland County 1,969 2,463 -20.1% $324,225 $281,000 +15.4% 18 34 -47.1% 2,923 3,959 -26.2%

Saginaw County 204 203 +0.5% $150,000 $129,000 +16.3% 19 41 -53.7% 263 247 +6.5%

Sanilac County 45 70 -35.7% $168,000 $153,750 +9.3% 30 81 -63.0% 118 139 -15.1%

Shiawassee County 90 104 -13.5% $180,000 $135,000 +33.3% 28 58 -51.7% 104 146 -28.8%

St. Clair County 206 263 -21.7% $219,500 $196,950 +11.4% 16 55 -70.9% 367 441 -16.8%

Tuscola County 38 39 -2.6% $183,000 $136,750 +33.8% 14 25 -44.0% 69 59 +16.9%

Washtenaw County 508 585 -13.2% $349,950 $302,500 +15.7% 16 34 -52.9% 1,061 1,443 -26.5%

Wayne County 1,777 2,277 -22.0% $190,000 $165,000 +15.2% 19 38 -50.0% 3,130 4,155 -24.7%

Listing and Sales Summary Report

* Included in county numbers.

Current as of August 6, 2021. All data from Realcomp II Ltd. This report is not to be reproduced or redistributed without Realcomp's express written consent. Data deemed reliable but not guaranteed. Report © 2021 ShowingTime.

Total Sales (Units) Median Sales Prices Average DOM On-Market Listings (Ending Inventory)