By the time this wonderful publication hits the mailboxes, school will be out, and parents may even be hearing “I’m bored” from their kids. I remember the days (yes, many years ago) when we were sent out to play in the neighborhood, not to be seen again until dinnertime when some homes had bells to ring, mom or dad had the incredible skill of ear numbing whistling, or the simple yells to come home for dinner. Bicycles were a necessity, as were baseball gloves, balls, and bats, and the necessary implements to build a fort. Summer was a blur, but those were certainly different times in our country’s history.
Our spring and early summer real estate market is performing very well, and at the time of this writing, our team is 10% ahead of last year’s sales pace (and our second-best start through May 15th ever), with a strong and healthy rate of upcoming new listings being added to my whiteboard. Our staging van is earning its keep, adding more miles to its tires this spring since 2021. Interest rates remain steady, buyer activity is definitely up and we are seeing more multiple offer scenarios than we have in several years, but we continue to get buyers under contract and into their dream homes.
One topic we enjoy talking about with our clients and prospective clients is adding real estate to their investment portfolio. We added our first short term rental (STR) to our own portfolio last August in northern Arizona, upon the recommendation of our tax professional. You have heard me say that being self-employed is certainly not for everyone, and it takes a strong will, discipline, and diligent business plan, as we don’t have a 401K or retirement plan to participate in through a corporate employer. More of our clients and friends are exploring STRs to diversify their own portfolios, but it takes proper planning and research to determine if it’s the right fit for them. Our own goal was to purchase in an area that 1) we love to spend time in, 2) may be our eventual semi-retirement or retirement destination, 3) has year around appeal and tourism to support the STR goal, and 4) supports the tax benefit and carrying costs for our goals. I have been so fortunate to have a huge sphere of influence around the country from the real estate coaching program we spent five years a part of, and those relationships have proven to be incredibly invaluable for adding this segment of specialization to our real estate business. The relationships we have built with tax professionals, legal professionals, property managers, mortgage lenders, and Realtors, are not only valuable from a business perspective, but friendships with people we love spending time with, in their respective areas of the country. There are a lot of things to consider before jumping to add an STR to your portfolio, whether it is in northern Michigan, Arizona, or the southeast, so call us if you have considered it. We just had this conversation with a client yesterday, and what a fun surprise that their goal is within 20 minutes of our own property. This is adding a fun benefit to our business as well, being part of such a fun adventure of what may be their family legacy, and multi-generational memories together. I have written a couple of blogs on this topic, and you can find them on our website at randymillerhomes.com, under the “Blog” tab.
I also must add a huge THANK YOU to everyone who voted for our team, as we were voted “Best of The Best” Realtor by the readers of the Oakland Press, in April. We are so honored, and so grateful, that so many took the time to vote, and we didn’t know until the final couple weeks of voting that we were even finalists (thank you Tanya Carson, owner of Clarkston Living, for letting us know!). I have always said that we have “quietly” continued to grow our business in Clarkston, as we choose to not be “billboard” Realtors, and our sales production is 90% “organic” (client referrals, past clients, etc.), which is what we truly enjoy. So, thank you everyone, we are truly honored for this award. We love being a part of this amazing community, and Jennifer and I talk about that often. The friendships we continue to build in Clarkston is beyond what we ever expected.
Make it a memorable start to summer!
