I don't have to really tell anyone that prices are the best we've had in a decades around here. With the Fed continually slashing the prime rate, mortgage rates are holding steadily low as well.
If you are a first time buyer (or know someone that should be)... call me today, There are literally thousands of well priced starter homes... we'll find you one.
If you are contemplating an upward move... call me today. The market is perfect for you. Yes you'll probably suffer a little on the selling price of your current home, but keep in mind that on the home you purchase (assuming you're upgrading), you'll get to take advantage of the seller on the higher end home...
Here's how it looks on paper. If your home used to be worth $ 200,000, but now you bite the bullet and are lucky to get $ 160,000 for it (20% decrease in estimated value), you lose $ 40,000.
If you buy a home that used to be $ 400,000, that is now worth $ 320,000 (the same 20% decrease in estimated value)... you are able to purchase $ 80,000 more home for your money.
So bite the bullet on the perceived $ 40,000 loss, to gain $ 80,000... you are $ 40,000 ahead of the game.
Keep in mind that if you wait for prices to come back up... not only will your home increase in value... but so will your dream home.
Now is the time... call me for more details, and let's get horse trading :0)
Friday, February 22, 2008
Good news for a change to start the new year...
A recent article in the MCAR magazine showed increases over 2007 for January... Good news for a change. Also note the most affordable communities in the country info ... all posted in the article below.
January residential sales in Macomb County showed an 8.5 percent increase in sales over the same month in 2007, according to recent figures. Leading the charge among municipalities with 15 or more sales: Roseville, with a year-to-year boost of 42 percent. Also showing year-to-year increases: Macomb Township (27 percent), Eastpointe (23 percent) and Warren (16 percent). Of those, only Macomb Township experienced an increase in sales volume (a modest one, at just over 1.5 percent). Shelby Township saw a 19 percent decrease in sales year-to-year, and Clinton Township’s sales dipped 7 percent.
In Oakland County, Troy sales posted a 22 percent increase year-to-year among municipalities with 15 or more sales. Troy was recently listed as one of the most affordable U.S. housing markets with a population of 500,000 or more in a report from the National Association of Home Builders; the city’s median sales price for January was $217,500. Orion Township’s sales increased 17 percent in the same timeframe, with a 4.5 percent increase in sales volume. Listings for the county, meanwhile, rose a modest 0.5 percent.
About that affordable housing markets list: not only did Troy appear in the 500,000 and up category, so did Detroit and Grand Rapids. In a separate category of markets with fewer than 500,000, even more Michigan communities appeared: Saginaw, Monroe, Bay City, Lansing, Flint, Battle Creek and Kalamazoo. In terms of affordability, Michigan is the best-represented state on the list. The least affordable state? California.
January residential sales in Macomb County showed an 8.5 percent increase in sales over the same month in 2007, according to recent figures. Leading the charge among municipalities with 15 or more sales: Roseville, with a year-to-year boost of 42 percent. Also showing year-to-year increases: Macomb Township (27 percent), Eastpointe (23 percent) and Warren (16 percent). Of those, only Macomb Township experienced an increase in sales volume (a modest one, at just over 1.5 percent). Shelby Township saw a 19 percent decrease in sales year-to-year, and Clinton Township’s sales dipped 7 percent.
In Oakland County, Troy sales posted a 22 percent increase year-to-year among municipalities with 15 or more sales. Troy was recently listed as one of the most affordable U.S. housing markets with a population of 500,000 or more in a report from the National Association of Home Builders; the city’s median sales price for January was $217,500. Orion Township’s sales increased 17 percent in the same timeframe, with a 4.5 percent increase in sales volume. Listings for the county, meanwhile, rose a modest 0.5 percent.
About that affordable housing markets list: not only did Troy appear in the 500,000 and up category, so did Detroit and Grand Rapids. In a separate category of markets with fewer than 500,000, even more Michigan communities appeared: Saginaw, Monroe, Bay City, Lansing, Flint, Battle Creek and Kalamazoo. In terms of affordability, Michigan is the best-represented state on the list. The least affordable state? California.
Subscribe to:
Comments (Atom)
