Home Prices
REALTOR Facts
Melody & Her Brokerage
Mortgages & Financing
Other Facts and Figures
100

The median home price in Saginaw County is higher than in Gratiot County. TRUE OR FALSE?

TRUE (Saginaw: $144,490; Gratiot $124,896)

100

The typical REALTOR is a 56-year-old female who attended college and is a homeowner. TRUE OR FALSE?

TRUE

100

Melody has a current listing in Hampton Township? TRUE OR FALSE?

TRUE: 67 Cedar Dr.

100

Roughly 16% of home buyers in Dec. 2022 used cash to purchase their homes. TRUE OR FALSE?

FALSE: 28%

100

An estimate of value as of a specific date and for a specific use is called a comparable. TRUE OR FALSE?

FALSE: an APPRAISAL

200

Which Michigan County has the highest median home prices?

A. Oakland

B. Washtenaw

C. Leelanau

B. Washtenaw: $384,255

200

What percentage of real estate agents quit within 5 years?

A. 87%

B. 56%

C. 79%


A. 87%

200

What is the name of the brokerage that Melody works for?

A. Berkshire Hathaway HomeServices Michigan's Real Estate

B. Berkshire Hathaway Eastern Real Estate

C. Berkshire Hathaway HomeServices Michigan Real Estate

C

200

Which of the following is NOT a home loan?

A. MSHDA conventional

B. SBA 504

C. USDA RD

200

What was the average days on the market for a home in Freeland, MI in Feb. 2023?

A. 15

B. 58

C. 37

B

300

The highest median home values were in counties in ________ (which state?)

California

300

86% of sellers in 2020 were assisted by a ____________ when selling their home.

Real Estate Agent/REALTOR

300

Before becoming a Realtor, Melody was

A. an ESL instructor

B. A pre-school teacher

C. An administrative assistant

A

300

As of March 6, 2023, the average rate for a 30-year fixed mortgage was ___.35%

7

300

Buyers are most likely to find the home they purchased on the ____________. 

INTERNET

400

The price of homes sold in 2022 by REALTORS on the Saginaw Board increased by __.27% over 2021. 

8

400

In the state of MI, a real estate agent must complete ____ hours of continuing education per year including 2 hours of legal education. 

6

400

Before the Saginaw office came under the umbrella of Berkshire Hathaway, what was the name of its corporate entity?

Prudential

400

How much money can a first-time homebuyer borrow from an IRA for a down payment without a penalty?

$10,000

400

According to the real estate mantra, what are the most important things to consider when buying or selling a home?

LOCATION, LOCATION, LOCATION

500

There's still a housing shortage!

Why are homes not expected to lose value in 2023?


500

A fine of between $5,000-$25,000 or imprisonment for not more than a year or both

What is the penalty in MI for practicing real estate without a license?

500


55 agents


How many agents does the Saginaw BHHSMI office have?

500

An FHA 203K

What type of mortgage can be used to rehab a house?

500

This happens when a buyer takes over the loan payments of the seller.

What is an assumption?