• Dec. 28, 2011 - End of Year Real Estate Trends ~ West Michigan Real Estate Stats Improve
 As the last embers of 2011 burn slowly into recent history, it’s always instructive to take a look back at where we’ve been with regards to the real estate market in the greater Grand Rapids metropolis. The numbers released by the Grand Rapids Association of REALTORS® show improvements in a number of areas. Here are some of the highlights:
1. Inventory Levels reduce 25%
With over 20,000+ listings for 2010, the numbers are significantly lower at 15,000+ listings Year to Date for 2011. There was a reduction in the number of foreclosure listings driven in part by some of the legal challenges that banks faced about foreclosure proceedings and the MERS ruling.
2. Dollar Volume and Number of Homes Sold/Closed Increases!
There was a 3% increase in the number of homes sold in 2011 vs 2010 and a 6.1% increase in the dollar volume. This trend seems to indicate a stabilization of the marketplace over the past twelve months. If the overall economic situation with regards to jobs continues to improve even marginally, we can expect to see continued modest improvements in this area.
3. Overall Average Home Sale Price increases 3% this Year.
With so much dire economic news, it’s sometimes difficult to hear the good news hidden within the chaos. Home sale prices have increased in spite of the foreclosure and short sale transactions which are still very much a part of the real estate landscape. This was accomplished within a context which included over 1400 homes that sold for less than $40,000. The increase was fueled at least in part by 88 homes which have Sold/Closed so far above $500,000.
Click this link to view the raw data release courtesy of the Grand Rapids |
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• Dec. 27, 2010 - 5 Questions to Ask BEFORE you Stop Paying Your Mortgage!
Over the past month, I've had several conversations which would have been considered 'beyond bizzare' just a few short years ago. Folks talking about people they know walking out the door of their homes and just giving the home back to the bank as casually as they might refer to a decision to perhaps purchase a car.
I know you might be thinking at a cursory reading that this reckless attitude is just symptomatic of the chaos that has been the hallmark of so much recent madness, but often during these exchanges, I actually sensed something else. As I listen intently, the story involves so much more than initially stated. There's an underlying, increasingly recognizable sad thread.
The bundle of trial includes years of struggle, trying to find jobs, being laid off, piling up debt to survive, ravaging investment accounts, pulling home equity out to last just a little longer, and then the straw that breaks the camel's back occurs...one more thing that could not be anticipated which tips the scales.
Absolute & total weariness...and with resources strained beyond measure, it seems that the only thing to do is ...WALK AWAY. But before you do...
STOP.
Before your feet set in motion a chain of events which will potentially impact your life for the NEXT DECADE, please consider ALL your options. TALK to someone. I'm astounded by the number of people who go through the ENTIRE Foreclosure process without talking to ANYONE about their options.
That's right...
You do have OPTIONS. Before making a decision to simply stop attending to your obligations, ASK someone for help. Speak to an Attorney, contact a Real Estate Broker or your Mortgage Lender. Preferably, engage with all three sources or more... Information is power when it comes to a decision which can handicap not just your ability to get a new home, but your ability to have a measure of control over your financial life for the foreseeable future.
Just for Starters, Ask about the following:
Will your bank accept a Deed in Lieu of Foreclosure AND forgive your debt in it's entirety?
Can you pursue a Short Sale?
What are your options for Loan Modification?
What are your legal options and obligations?
How will this decision impact your future credit options?
An old African Proverb reminds us that "No Condition is Permanent in this world." Remember this truth...especially when things are tough. This too shall pass...eventually.
picture courtesy of hoyasmeg on flickr |
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• Dec. 23, 2010 - Leading With An Ear to the Ground...2011 Grand Rapids Association of Realtors President Uses the Groundswell to Tap into the Real Estate Community.
 It is said that music is the language of the soul. A universal tongue, spoken in countless variations of tribe and tongue. Every instrument has it's own particular rhythm of communication. As a young girl, growing up in West Africa, the drum was a central component of the musical dialog in a literal and figurative sense.
The 'Talking Drum' is a unique element within African cultural heritage. Drumming is a highly developed skill in native cultures as a means of communication, not just an instrument for social enjoyment. Historically, the talking drum was used to introduce new arrivals, announce departures and transmit information that was important to the society.
This past year, I've served in the position of President-Elect of the Grand Rapids Association of Realtors®. Throughout the year, I've had the opportunity to meet with brokers, agents as individuals and in groups...listening to their concerns and gaining insights into the dynamics of our industry.
As I've listened to the groundswell, the process has reminded me of how the message is carried by the the beat of the talking drum. Each beat carries it's own unique message and when added to the whole creates a message. In the same way, the different voices in my real estate community have provided insight about ways in which we can all work together to re-invent our industry in a way that works to the benefit of our community and members.
Leading with an ear to the ground has also involved touching base with individuals through social media portals such as Facebook and Twitter as well as blogging. Drumming is a social activity, one in which the message of the beat enhances the contributions of the other instruments as well as the vocals. One thing which has emerged very clearly for me is the fact that although our industry is comprised of many different segments often with competing interests, we can align ourselves in sync with the rhythmic interests we all share and combine our best efforts to deal with the economic challenges facing our communities today.
I was recently interviewed for an article in the Grand Rapids Press, our local paper. As the article notes, my election is in many ways historic as the first person of color to occupy the position of President in the Associations 117 history. It's also remarkable to reflect on the fact that this election was not primarily about the color of my skin, but rather members of my professional community were also acknowledging the contributions that they have witnessed over the past 15 years.
My goal this year is to continue to 'lead with an ear to the ground'. I appreciate the rich diversity that is a part of our community and know that we need all hands on deck to deal with the challenges ahead.
Here's an excerpt from the interview with Cami Reister, the reporter from the Grand Rapids Press which can be read in it's entirety online:
On Audu's leadership style...
“Over the past year I’ve been reaching out to brokers,” she said, seeking a sense of what is needed and important. “I lead with my ear to the ground.”
From that research she is launching her tenure with four priorities:
• Supporting brokers through education and professional development.
• Ensuring the financial health of the association by seeking efficiencies and strategic alliances.
• Developing a leadership track for young members and staying current with the changing market.
• Giving back to the community through “50,000 Points of Light.”
Audu is challenging members to avoid focusing on the negative aspects of the business and instead dedicate 60 hours of service each over the next year.
“We can either wallow in self pity, or we can take up arms and go out and gift our community service,” she said. “If I get 50 percent who give 60 hours, five hours a month, we can do this. We can do more than this.
“Leadership is not just about making money, it’s about serving people.” |
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• Jul. 1, 2010 - Real Estate Leadership for the 21st Century...What Will Be Required?
 What does leadership require? In an profession rocked by unprecedented upheaval, the importance of a good leader cannot be overestimated. In May, I attended the Real Trends Leadership Conference in Dallas. I was struck by how often the topic of visionary leadership was noted as being the single most important predictive factor for surviving the current chaos being experienced in the real estate industry.
A google search on the topic yields over 314 MILLION results! This is definitely a hot topic in. It is also a recognition that the role of leaders has changed significantly in response to the increased complexity of issues that we face as local and global communities.
At the top of the search heap was a link to an article by Lead2XL According to the author, Mitch McCrimmon,
"Our definition of leadership needs to change for a knowledge driven world that is no longer rigidly hierachical, stable or static but one that is fluid, fast changing and less formally structured."
So, what does this mean? According to McCrimmon, leadership involves the ability to influence, to promote, provide vision and to engage thought capital. Leadership is no longer a static entity based on the traditions of position based authority nor is it limited to the people 'at the top.'
What's at Stake...
The Grand Rapids Association of Realtors® is about to begin the process of selecting leaders again. These new directors will be tasked with carrying forward the vision that move us into the future. A responsibility of true significance. Recently a group of individuals met together to brain storm about the type of leadership that our association needs at this time. The discussion did not initially center on names or personalities... rather, it focused on ideas, character traits and vision. Through this sieve, several critical definers began to emerge.
What Will 21st Century Leadership Require...
We recognize that leaders in our association will require the humility to learn and lead. The willingness to communicate with transparency and the courage to change course when necessary. We need leaders who are curious and committed. Individuals who have a passion to serve and are willing to engage. Leaders who are willing to tackle difficult issues with tact and perseverance along with a recognition that the diversity of ideas and viewpoints ultimately strengthens the final decision.
Leading Through Tumultuous Times...
 Last year, I was appointed to serve as a Director on the Board of our association and then subsequently elected to the position of President-Elect. Serving our members during this tumultuous period has included radical redefinitions of our marketplace through short sales and foreclosures, engaging a consultant to advise on the implications of changes in our industry, facing the reality of having to significantly upgrade our educational offerings and tackling the process of converting/merging our MLS system to create a more unified and regional database of information.
Through this process, I am reminded of the bravery of the small band of settlers that made the shores of the New England coastline their homestead in the 17th century. They faced the unsettling task of dealing with unpredictable elements that also threatened their prospects of survival. Not entirely unlike some of the challenges faced in the real estate industry today. Due to the ferocity of the tumultous storms, they fashioned a home which could withstand gale force winds...a home style commonly known as the Cape Cod Style Home.
Lessons from the Cape Cod on Servant Leadership...
The Cape Cod was not a fancy house. It was usually only one story and had a hearth at the center. The shingles outside the windows were not decorative, but were meant to be pulled over the windows to protect against the wind. The steep roof allowed for adequate run-off and the small roof overhang added stability and security to the structure.
In some ways, that's how I view the task ahead. We need leaders who appreciate that serving is a calling to servant leadership. It's not a fancy task and may sometimes be a thankless one. An acronym for the world CAPE provides a base foundation for the issues which I think are important as we chart a course for the future. These include:
C ~ Community; the hearth as a gathering place symbolizes a recognition that we need to encourage the formation of strong relationships amongst our association members and to support the growth of communities and neighborhoods in the areas we serve. This is where our strength lies...we need to support each other and respect and encourage the core strengths inherent in our diversity.
A ~ Awareness; early settlers lived and thrived because they were attuned to the the changing dynamics of their environment and linked forces together. We need to be more proactive in engaging other sectors of our real estate industry and overall commercial sectors to pool resources, creative energy and expand opportunities.
P ~ Profitablity; directly related to Productivity. In an era in which we are seeing profits dry up and productivity per agent take a nose dive, we need to address issue of professionalism and open up frank discussion about what will be required to ensure that we have an industry which can adequately support the welfare of those it employs.
E ~ Education; in a world that is rapidly changing, standing still is going backwards. The early settlers learned to adapt to their environment and even today, the Cape Code Style home continues to evolve. As a real estate community, we must recognize that a new set of knowledge tools will be vital to success in the future.
I'm excited about the possibilities that will emerge for all who are willing to take up the challenge. In the final analysis, we are all leaders and every contribution has an impact. I'd like to encourage you to ponder the possibilities.... If this calling speaks to you, please volunteer to lead as a director or in the future in other capacities. You are important. We need your presence at the table!
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• Jun. 5, 2010 - Would You Buy Your Next Home at the Mall or Grocery Store?
 Remember the first time you went grocery shopping and rolled your shopping cart right past the newest location for your local bank? Today, ATM machines and banks are a normal part of grocery shopping all around the country. But, according to the latest Realtor magazine article, 'The Convenience Factor', this trend towards creating a broader shopping experience may soon be enlarged to include your neighborhood Real Estate Brokerage!
According to the article:
"Brokers are staking out space in supermarkets to increase their visibility and make their office more convenient for consumers" Keller Williams broker, Gerald Murphy of Keller Williams Gold Coast in Chicago who opened an office in side a Chicago Dominick's grocery store in 2009 is quoted as saying, "you've got to be where the people are. Dominick's customers are our clients."
In West Michigan, a similar concept which included mini kiosks in the mall has been experimented with. Several years ago, I stopped to have a discussion with an agent who was doing a shift to see what his experience had been with this form of marketing. Although he admitted to not having success with actually selling a home through his kiosk 'floor time', he did seem to feel that it was a good way to meet potential new prospects, somewhat similar to the time agents invest in Open House sittings.
I remember thinking to myself...'Would I buy a home in a mall?' I have the same sensation as I read this article...'Would I go to the grocery store to find my dream home?' In an age when the Internet offers so much flexibility at my fingertips, I admit to being somewhat of a skeptic.
But one thing is clear, the profitable real estate brokerage of the future will likely have a significantly different blue print than the models which dot the landscape today. Last month, I attended the Real Trends Leadership Conference in Dallas, TX. The conference features notable leaders within the national real estate community.
During the conference, Sherry Chris, CEO of Better Homes & Gardens spoke about some of the necessary changes which will shape the industry in the future. She indicated that as more agents work out of virtual offices and their homes, brokers will have to drastically reduce their investment in brick and mortar outlets to keep pace and stay competitive/profitable. Other leading brokers spoke about the move toward satellite offices where agents could access necessary conveniences and use office space as needed.
Does Perception affect Reality?
But a part of me is wondering if the grocery store really serves our perception as an industry? In an era in which the sub-prime and economic crisis have left an increasing number of Americans questioning the idea of real estate as a solid investment, do we further erode the value of our brand by putting the purchase of a home within the confines of a shopping cart experience?
I suppose the same sentiments could be expressed towards the home office movement in which an increasing number of brokers no longer maintain any corporate stand alone structure at all. Well, I'm curious about your thoughts. Do you think this trend is a good one, or one that will further deplete the value proposition of the real estate brokerage?
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• - Blog Disclaimer
BLOG DISCLAIMER
The information contained in the articles on this, blog is the property of Audu Real Estate. Comments posted in response to individual blog posts are the opinions of the respondents. Audu Real Estate is not responsible for the opinions, thoughts or ideas expressed by visitors to this blog nor for any liability for any damages or losses direct or indirect that may result from the use or reliance on information contained herein. The information provided is deemed reliable but not guaranteed. This blog is provided for informational purposes only. Readers are advisedto contact a real estate professional for specific counsel related to their individual real estate needs. |
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• - NEW! Blog Coaching Sessions...
.jpg) Blogging is taking the nation by storm. In case you haven't noticed...they're everywhere! Infact, according to Technorati, a leading aggregator of "all things blogs related," over 175,000 new blogs are being created every day.
Blogs are becoming a part of every type of business. They span the relm of politics, religion, education, sports, real estate, retail, electronics, medecine...you name a topic or interest...someone, somewhere in the world is blogging about it.
Perhaps, you have wondered how to start a blog. You may have even bought a book or taken a class to help you get started. But you still find yourself stumped. You're paralyzed at the prospect of starting or...maybe, you just need a little personalized direction to help you to develop your blogging voice.
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Group sessions can be conducted at client's premisis. These sessions will require participants to bring a laptop. A room rental fee of $150 will be assessed in addition to Blogging Boot CampTM costs for groups of 6 or more individuals unless suitable accomodations are available at the clients premisis to include access to computers with high speed internet availability.
Blogging Boot CampTM Costs: $100 per person for a 2 hour session. A Non-Refundable $100 Fee is required to reserve a date for Blogging Boot CampTM. Payment must be received in full prior to the commencement of training. An Advance booking of at least 2 weeks is strongly suggested to reserve a date for Blogging Boot CampTM.
Cancellation policy: Full refund 10 days prior to the event, 50% refund 5 days prior to the event. All other cancellations less than 5 days prior to the event will be charged the full fee. A Non Refundable Deposit of $100 is required to hold and reserve a date for the Blogging Boot CampTM.
NEW OFFERING 2008!
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For further inquiry or to book a Session, please e-mail: laudu@grar.com. or call 616-791-0511.
To Read articles that Lola has written about a Variety of Blogging Related issues...Click here
Visit Lola's Blogs on line:
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*Policy is subject to change without notice.
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• - About Lola Audu...
Audu Real Estate, 3569 Alpine NW, Suite 102, Grand Rapids, Mi 49321
Lola Audu, CRS GRI e-PRO
Associate Broker & Owner - Audu Real Estate
Curriculum Vitae
"(3).jpg) As Lola's Mom tells it, Lola began her informal teaching career in kindergarten! At five years old they were surprised to find her holding a "studio session" with a dozen kids in rapt attention as she regaled them with stories! But since then, Lola has been involved in formal teaching and training for almost 20 years. In addition to coaching and mentoring real estate agents, she has also mentored many young adults and been involved in writing and teaching a variety of courses which relate to professional and spiritual development.
Lola's teaching style is expressive and enlightening. She invites everyone to engage in thinking "outside the box”. Using humor and storytelling as well as practical wisdom, she "connects the dots" in ways that you may not have considered before.
Lola grew up in West Africa, in the cities of Lagos, and Jos. These two locales were about as different as any two places on the earth. The contrast of the steamy, chaotic, messy commerce driven city of Lagos where her family resided was a 180 degree opposite to the small educational community with quaint little homes, dormitories and scenic gardens of her boarding school experience in the small village of Miango, Nigeria. The juxtaposition of these two environments were critical in shaping a manner of thinking and relating which incorporates and finds meaning in elements which are seemingly contradictory. A comment frequently articulated after individuals experience a teaching or training session is: "I'd never thought of it that way!"
Resume:
2011 -President, Grand Rapids Association of Realtors®
2009 - Elected as President - Elect for the Grand Rapids Association of Realtors®
2008 - Appointed to serve one year term as Director for the Grand Rapids Association of Realtors®
2007 - Appointed to serve 3 year term on Professional Standards Committee of the Grand Rapids Association of Realtors®
2007 - Appointed to serve on Grand Rapids Association of Realtors® 3rd Party Taskforce
2006 - Earned Certified Residential Specialist Designation- CRS Top 4% Realtors® nationwide
2005 - Opened Audu Real Estate Brokerage Company
2004 - Appointed to serve on Grand Rapids Assocation of Realtors® Legal Action Committee
2003 - Completed Educational requirements for Real Estate Broker's License
2002 - Elected by members of Grand Rapids Association of Realtors® to serve as Director
2001 - National Real Estate Designation- E-Pro Designation for Competence in on-line transactions
1999 - Graduate Real Estate Institute Designation- National Designation
1997 - Real Estate Marketing Institute2001
1995 - Obtained Real Estate Salespersons License
1987 - Bachelor of Science University of Wisconsin - Madison
Comments from class participants.....
"Lola is very good at putting the training in very practical situations and life experiences"
"The training was beneficial in opening my heart and eyes to be more transparent and loving. I now enjoy people more"
"I was very interested in Lola as a teacher. It was very good, I would recommend it"
"Various aspects of relationships were illuminated in such a way that honesty to oneself was unlocked"
"the relevance of this material addressed the very foundational problems that so plague the lives of people. I needed to hear the truths and experience a new and fresh working in my heart"
"Quite frankly, I didn't think I would learn a great deal, but I was confronted weekly with revelatory knowledge..."
"Lola has been so good at relating the truth to us, also her articulation is excellent!"
"the instructor has a lot of fun in the class and makes you feel very comfortable"
In addition Lola has written and taught a variety of classes at the following organizations:
Grand Rapids Chamber of Commerce - Chamber University
Grand Rapids Association of Realtors
Clare-Gladwin Board of Realtors®
Ann Arbor Area Board of Realtors®
Five Star Real Estate, Grand Rapids Michigan
Grand Rapids First Assembly, Wyoming Michigan
Beckwith Hills Christian Reformed Church, Grand Rapids Michigan
First Evangelical Free Church, Grand Rapids Michigan
First Evangelical Covenant Church, Grand Rapids Michigan
Presentations & Seminars
For a Complete and Updated List of Class Offering provided by Blogging Seminars, visit: Http://www.bloggingseminars.com.
Follow Blogging Seminars on Twitter
Personal Growth & Development Classes
A Diamond in Your Pocket - Unlocking the potential in your Life
Overcoming Adversity
Succeeding Successfully
Spiritual Growth Classes & Series
The Fruit of the Spirit Series (10 Lesson Series)
Radically Real Relationships Series (6-8 Lesson Series)
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An in-depth look into the dynamics which underly relationships within the context of diversity and the power of the cross. Topics include: The Spirit of Truth, The Leven of Hypocrisy, The Nature of Division, The Ministry of Reconcilliation....
Inward Reach Series (5 Lesson Series)
Wrestling with God - A Meander Through the Life of Jacob (1 Lesson)
Sit, Stand & Walk - Lessons in Spiritual Maturing (3 Lessons)
Please contact Lola Audu at lola@lolaaudu.com or call 616-791-0511 for additional information about the course selections or to book a class.
Audu Real Estate is a Michigan based Real Estate company which serves the residential real estate community and investors in the West Michigan real estate market. The company utilizes the use of technology and advanced agent training to provide superior service to residents of the Greater Grand Rapids community.
© 2007 Audu Real Estate All rights reserved
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Information about local real estate in Grand Rapids, Michigan & surrounding communities including Grandville, Wyoming, Jenison, Kentwood & Walker. Also, Lola Audu, CRS, an experienced Real Estate Broker shares insights and general wisdom about life and personal growth. Lola welcomes your thoughts & insights about the information shared on this Web Log.
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