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February 2009 Southeast Michigan Market Report - 03/19/09 11:24 PM
Hard to believe, but we're nearly done with the first quarter of 2009 and the Spring selling season is upon us. The good news is home sales in 2009 continue to outpace 2008 levels in Southeast Michigan. February sales in Wayne County were up 18.4%, Oakland 12.3%, Livingston 27.9% with an overall increase across the MLS of 16.5%. Another good piece of news is that the inventory of homes and condos is way down. Last Summer I had "Search over 70,000 homes..." on my website. Today when I checked the MLS, there were less than 50,000! Average days on the market (2 comments)
MI Real Estate Answers: How Can I Get What My Home Is Worth? - 03/13/09 01:07 PM
Q. I want to move to a bigger house but every agent I talk to tells me I won't get what I want. It's not that I "want" it, I need it be able to make a move. A. If you're serious about selling, better to price where the market is selling rather than 'chase the market down', by continuing to reduce your price. This usually results in a longer time on the market plus a perception by buyers that there is something 'wrong' with your house because it has been on the market so long. That said, you (3 comments)
In addition to the low interest rates and great deals out there right now, the big advantage to buying before the end of 2009 is the $8,000 tax credit enacted by Congress this year to stimulate the housing market. Unlike the 2008 credit, the 2009 tax credit does not have to be paid back. Here's a great video about the First-Time Home Buyer Tax Credit with answers to (1 comments)
Did You Remember to Set Your Clocks Ahead? - 03/08/09 09:17 PM
I don't remember when things changed, but Daylight Savings Time seems much earlier than usual this year. It was 2007 that Congress changed Daylight Savings Time to be observed from the second Sunday in March to the first Sunday in November, adding a month to Daylight Savings Time. For the complete details on the history of Daylight Savings Time, check out InfoPlease.com. Buds are popping & birds are chirping...let's hope market values start perking! (0 comments)
January 2009 Market Report - 03/01/09 10:26 AM
I know, its the first day of March, but better late than never. The January statistics issued by our local MLS Realcomp indicated home sales continued their upward trend. In fact, sales increased 25.7% over January 2008. Most home sellers who don't have to sell are staying put or leasing until things start to recover. Most homes on the market are well priced and inventory is down 21.1% over January 2008. The first-time home buyer market remains strong and should continue with the recent passage of the $8,000 credit for first time buyers, which unlike the 2008 credit, (4 comments)
MI Real Estate Answers: HUD Home or Fannie Mae - 03/01/09 10:17 AM
Q. If you had a choice between buying a home owned by Fannie Mae or HUD, which one would you choose, all things being equal? A. What is most important is finding a home you're crazy about in an area you like that is mechanical sound. That said, however, the advantage of HUD is that they are offering a $2,500 owner occupant incentive which is applied toward your either your closing costs, tax prorations & repairs to the home. If all other things are equal, that's pretty nice incentive. When you couple that with the $8,000 tax credit given to first (1 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.