There has been a flurry of activity with families scrambling to get into their new homes before school begins. Interest rates are holding well, but mortgages are getting tougher to obtain with banks tightening policies regarding money down, appraisals, and credit scores.
It still looks like a pretty strong buyers market, but housing prices have stabilized a bit... check out the article at the bottom of this blog for a quick explanation from an organization named Global Insight... interesting reading.
I have several new listings this month as well as a couple in the works, and a few pretty significant price decreases. Hit the link above for my listings... I'd appreciate you forwarding that link to anyone you know that might be looking for a great home in the area.
The family is great... Dave came home for a quick 4 day weekend to attend a family wedding. Lauren & Bella really have missed him and Bella is being a real trooper about the whole move. She is counting down the days until he'll be home. He is released from the Army on 9/11, and will drive home with his brother in law... we expect him to rejoin civilian life with us around 9/14...
Jessy was home for two weeks for summer break and Anthony joined us for the wedding as well. She just returned for her final push toward her masters... she should be finished in April, and I know she's looking forward to starting her career.
Kelly & I are well... haven't spent a lot of time on the motorcycles. Between weather oddities and Bella (& Laurens) ice cream fixation we've been a little busy evenings.
We appreciate all of your support in our real estate business... your referrals are appreciated. Please don't hesitate to pass my information on to anyone that has a real estate need, or anyone that just has a question they need answered... I'm happy to help.
See you in October
Dave
Global Insight WALTHAM, Mass., Sept. 4 /PRNewswire/ -- Global Insight, the world's
leading company for economic and financial analysis and forecasting, today
released the second quarter 2008 update of the U.S. housing valuation
analysis, House Prices in America, showing that single-family home prices
continue to fall across the country, though at a slower rate than last
quarter, and that extreme overvaluation of house prices is essentially
nonexistent, a sign the nation's housing "bubble" has popped and house prices
reflect a healthy balance in relation to long-term fundamentals.
Nationwide, house prices are down 4.8% from a year ago, this housing
cycle's peak high point. Prices fell in the second quarter in 152 of the 330
metro areas covered in the study, representing 46% of all single-family
housing units in the U.S. The second quarter decline of 5.3% (annualized)
compares with a 6.6% decline in the first quarter 2008, which represented 267
(81%) of 330 metro areas. For comparison, 295 (89%) declined in the fourth
quarter of 2007.
California, Florida and Michigan continue to account for the most severe
losses, representing 43 of the 50 worst performing metropolitan areas.
California and Florida had been among the most overvalued states for the past
several years. Michigan continues to struggle with the impact of a slumping
economy.
Thursday, September 4, 2008
Tuesday, August 5, 2008
August is Dream Cruise Month
The dog days of summer are here. Not sure how yours has been going but ours is zipping by fast. Bella has been with us for over a month now and we're enjoying every minute of her visit. She has overcome her dislike of the pool, she's becoming a pretty good golfer (just need to work on her take away a bit), but she misses her daddy. He exits the Army 9/11/08 and will be home within a week of that date... we all can't wait.
Woodward cruise is just around the corner (8/16)... can't wait, maybe we'll see you out there.
As for real estate... my business has picked up quite a bit with the help from your referrals. I appreciate the opportunity to help your family and friends. Below is an excerpt from MCAR's August magazine. I thought it explains pretty accurately the current state of our real estate trends. There's also a link at the bottom of the article to the actual MCAR website. If you copy and paste this link to your tool bar http://www.mcaronline.com/default.asp?id=16 and scroll to the bottom of the page there are two PDF files you can download that show actual stats for June '08 vs '07. as well as the second quarter numbers for both Oakland and Macomb counties. It lists the info city by city. Thought you might be interested in seeing whats happening in your neighborhood.
Again thanks for your referrals, Kelly & I aprpeciate the business.
Dave
Now for the article:
For just the second time this year, sales figures for Oakland and Macomb counties in June posted negative numbers. Oakland’s overall sales were down almost three percent compared to June 2007, and Macomb’s overall sales dipped almost two-and-a-half percent. It’s still an improvement over the 2006-2007 timeframe, when sales in the two counties dropped 10 and 11 percent, respectively.
Of the Oakland municipalities that posted the greatest sales increases,* the top three – and five of the top seven – had a median sale price in the five-digit range:
Oak Park sales increased 61 percent (median sale price: $40,000)
Southfield sales increased 45 percent (median sale price: $71,000)
Pontiac sales increased 37 percent (median sale price: $19,500)
Both Novi ($266,345) and White Lake Township ($200,000) saw higher median sale prices, but then Hazel Park ($29,500) and Waterford Township ($99,950) contribute to the affordability parade.
Speaking of Novi, it was the only municipality in June to experience a decrease in listings and an increase in sales, sales volume and median sale price.
Oakland municipalities that experienced sales drops included Rochester Hills (down 37 percent), Birmingham (down 32 percent) and Orion Township (down 27 percent). Interestingly, though sales were down, the median sale price in Birmingham increased 52 percent (to $432,500).
Macomb municipalities* experiencing year-to-year increases in June sales included:
Shelby Township, up 16 percent
Macomb Township, up 12 percent
Sterling Heights, up five percent
Macomb municipalities that experienced sales decreases included Washington Township (down 20 percent), St. Clair Shores (down 17 percent) and Roseville (down 15 percent). Just like Birmingham in Oakland County, Washington Township experienced a sales slide while the median sale price increased, this time by 20 percent.
* Among municipalities with 15 or more sales.
Woodward cruise is just around the corner (8/16)... can't wait, maybe we'll see you out there.
As for real estate... my business has picked up quite a bit with the help from your referrals. I appreciate the opportunity to help your family and friends. Below is an excerpt from MCAR's August magazine. I thought it explains pretty accurately the current state of our real estate trends. There's also a link at the bottom of the article to the actual MCAR website. If you copy and paste this link to your tool bar http://www.mcaronline.com/default.asp?id=16 and scroll to the bottom of the page there are two PDF files you can download that show actual stats for June '08 vs '07. as well as the second quarter numbers for both Oakland and Macomb counties. It lists the info city by city. Thought you might be interested in seeing whats happening in your neighborhood.
Again thanks for your referrals, Kelly & I aprpeciate the business.
Dave
Now for the article:
For just the second time this year, sales figures for Oakland and Macomb counties in June posted negative numbers. Oakland’s overall sales were down almost three percent compared to June 2007, and Macomb’s overall sales dipped almost two-and-a-half percent. It’s still an improvement over the 2006-2007 timeframe, when sales in the two counties dropped 10 and 11 percent, respectively.
Of the Oakland municipalities that posted the greatest sales increases,* the top three – and five of the top seven – had a median sale price in the five-digit range:
Oak Park sales increased 61 percent (median sale price: $40,000)
Southfield sales increased 45 percent (median sale price: $71,000)
Pontiac sales increased 37 percent (median sale price: $19,500)
Both Novi ($266,345) and White Lake Township ($200,000) saw higher median sale prices, but then Hazel Park ($29,500) and Waterford Township ($99,950) contribute to the affordability parade.
Speaking of Novi, it was the only municipality in June to experience a decrease in listings and an increase in sales, sales volume and median sale price.
Oakland municipalities that experienced sales drops included Rochester Hills (down 37 percent), Birmingham (down 32 percent) and Orion Township (down 27 percent). Interestingly, though sales were down, the median sale price in Birmingham increased 52 percent (to $432,500).
Macomb municipalities* experiencing year-to-year increases in June sales included:
Shelby Township, up 16 percent
Macomb Township, up 12 percent
Sterling Heights, up five percent
Macomb municipalities that experienced sales decreases included Washington Township (down 20 percent), St. Clair Shores (down 17 percent) and Roseville (down 15 percent). Just like Birmingham in Oakland County, Washington Township experienced a sales slide while the median sale price increased, this time by 20 percent.
* Among municipalities with 15 or more sales.
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