metro detroit: First-Quarter Home Prices in Metro Detroit Skyrocket in 2013! - 05/05/13 12:13 PM
First-Quarter Home Prices in Metro Detroit Skyrocket in 2013!
Home prices in the Metro Detroit area INCREASED about 29% from the first quarter of 2012 to the same time 2013!
Median home prices in Livingston County went from $143,000 in 2012 to $155,817 in 2013. An increase of 9%.
Median home prices in Oakland County went from $104,033 in 2012 to $138,923 in 2013. An increase of 34%.
Median home prices in Macomb County went from $68,300 in 2012 to $81,250 in 2013. An increase of 19%.
Median home prices in Wayne County went from $33,517 in … (4 comments)

metro detroit: Metro Detroit Home Sellers, Lend Me Your Ears! - 04/19/13 04:02 PM
Metro Detroit Home Sellers, Lend Me Your Ears!
People of Metro Detroit, I have some good news for you. Well, good for you if you're thinking about selling you home, that is.
Let me fill you in on a little secret: The Seller's Market is Back!
Home prices have come up a Lot. There are still Tons of Buyers looking to buy homes and condos. Inventory is Extremely Low. Add those 3 things together and what do you get? Lots of showings, potential multiple-offer situations that have been driving home process up even more and getting your house sold Fast!
… (9 comments)

metro detroit: Metro Detroit Real Estate Market in a Nut Shell - March 2013 - 03/03/13 05:23 PM
Metro Detroit Real Estate Market in a Nut Shell - March 2013
Housing prices are still low.
Mortgage rates are even lower.
Housing inventory is ridiculously low.
Because of the lack of homes for sale, buyers are having a hard time buying.
By "a hard time buying," I mean that there are almost always multiple offers on homes.
Sellers, this means that you have the advantage in this market.
If you're thinking of selling, call me. I'll explain more.
Buyers, you can call me, too. We can still get you in a house or condo, most likely for less than you … (3 comments)

metro detroit: Listings - Come Out, Come Out, Wherever You Are! - 08/31/12 01:26 PM
Listings - Come Out, Come Out, Wherever You Are!
I don't know about your market, but here in the Metro Detroit real estate market, the housing inventory is extremely low!
"How low" you ask?
Let me show you...
Number of homes on the market In Wayne County, not including the City of Detroit-
July 2009 = 9,164 Active Listings July 2010 = 7,528 Active Listings July 2011 = 6,066 Active Listings July 2012 = 5,302 Active Listings Number of homes on the market in all of Oakland County-
July 2009 = 14,530 Active Listings July 2010 = 10,794 Active Listings July … (7 comments)

metro detroit: Buying a Home in Metro Detroit - 07/22/12 06:58 PM
Buying a Home in Metro Detroit So you have decided to purchase a home in the Metro Detroit area. Here are some things to consider as you start the home buying process.
The Metro Detroit Michigan real estate market changes constantly. Buying and selling traditional homes, Short Sales and Bank Owned properties make the home buying process very confusing. That makes it extremely important to work with a knowledgeable and experienced Metro Detroit, MI Realtor® who can guide you from start to finish through the entire home buying process.
Some of the benefits to buying a house:
Homes are more … (4 comments)

metro detroit: Overrated and Underrated. June 11, 2012 - 06/11/12 05:06 PM
Overrated and Underrated. June 11, 2012
Overrated - Changing your own oil. First off, I don't trust the $14.99 oil change guys. Every time I go to them, they tell me that somethings wrong. Every. Time. Doing it yourself might give you a good feeling, but I'd rather have that good feeling out on a golf course. What does changing your own oil save you? Maybe $5? But how much time does it take up? I know, I know. Some of you can do it in 15 minutes. Well, that's not me. I'll take mine to my mechanic and talk to … (19 comments)

metro detroit: Metro Detroit Home Buying FAQ: What Are the Steps to Buy a House? - 06/09/12 03:28 PM
Metro Detroit Home Buying FAQ: What Are the Steps to Buy a House?
Wow, that a pretty big question. I'll give you the "short" version.
First, you meet with a Realtor®. That's me!
Contact a Mortgage Professional. They'll ask a lot of questions and depending on the answers, they'll give you a pre-qualification, meaning based on what you told them, you'll be qualified for X amount mortgage. Tell them the truth. Always. The last thing any of us need is to go through the whole process and you not being able to actually get approved for a mortgage. I have a … (2 comments)

metro detroit: Is it a Buyers Market or a Sellers Market in Metro Detroit? - 06/08/12 04:46 PM
Is it a Buyers Market or a Sellers Market in Metro Detroit?
This is the question that’s on everyone’s mind.
A lot of people still think it’s a Buyers Market in Metro Detroit. It’s not. Stop listening to the news.
It’s been a changing market for a couple of years now, meaning it’s ended the Buyers Market part and has swung over to become a Sellers Market.

The biggest contributor of this is Supply & Demand.
Inventory is very low, so the buyers have less to choose from. Because of this, it puts a premium on the homes that are … (11 comments)

metro detroit: Metro Detroit Home Buying FAQ: What Do I Offer for this House? - 06/05/12 06:37 PM
Metro Detroit Home Buying FAQ: What Do I Offer for this House?
Right off the bat, I need to get something out in the open:
There is no such thing as buying a house for “pennies on the dollar.”

Unless you mean like 97 or 98 pennies on the dollar. 
Even the days of “low-balling” are over. It’s just the way it is in this market.
The best way to determine what to offer on a house is to have your Realtor do a market analysis and explain what other similar homes in the vicinity have sold for recently.
You … (20 comments)

metro detroit: Overrated and Underrated. June 3, 2012 - 06/03/12 04:13 PM
Overrated and Underrated. June 3, 2012
Overrated - Vacations. Before you start yelling at me, hear me out. Sure, when you're actually ON vacation, it's (mostly) fun. Sometimes you visit relatives that you might or might not get along with, but it's mostly good. The "overrated" part of the vacation usually comes in 3 parts.
Planning. Never fun. No one can agree on the same things. There's always something that one person wants to do and someone else doesn't. The Expense. I work hard. I work a LOT. Vacations can be very expensive, even if you try to budget. Always add … (11 comments)

metro detroit: Metro Detroit First-Time Home Buyer – Step 3 Looking at Homes - 06/03/12 03:52 PM
Metro Detroit First-Time Home Buyer – Step 3 Looking at Homes
This is the fun part!
We’ve already determined the areas you want to look, the “wants” and “needs” you want in a home and the approximate price range of the home you’re going to buy.
Now what?
We schedule a mutually convenient time to go out and walk through some homes that fit your criteria.
Bring a pen and a notebook (or equivalent electronic gadget) to take notes! After viewing a few homes, some of the amenities run together. Did that first house have a covered porch or did … (4 comments)

metro detroit: Metro Detroit First-Time Home Buyer – Step 2 Talking with a Mortgage Lender - 06/03/12 03:37 PM
Metro Detroit First-Time Home Buyer – Step 2 Talking with a Mortgage Lender
First off, I want to assure you that we can use any mortgage lender you feel comfortable with. If you have a lender that was referred to you by a friend or family member, that’s fine. When this happens, I will give you the option of having a “second opinion” from one of my trusted lenders. This would be a zero-pressure conversation just to make sure that your lender is the best fit for you. If my lender feels that they’re telling you what you need to hear, … (4 comments)

metro detroit: Metro Detroit First-Time Home Buyer – Step 1 Meet with a Realtor® - 06/03/12 03:16 PM
Metro Detroit First-Time Home Buyer – Step 1 Meet with a Realtor®
The first step in starting the process of buying your first home is to sit down and talk with a Realtor®. This does a few things:
You’ll have a lot of questions to ask, I’m sure. I can answer them for you. In the initial consultation, you’ll more than likely be overwhelmed at all the information in buying your first house. Don’t worry about that. I’ll explain everything in more detail as we move through each stage of the process.

Next, we’ll talk about your “wants” … (7 comments)

metro detroit: Good Morning, Metro Detroit! - 04/17/12 06:18 PM
Good Morning, Metro Detroit!
Okay, I'll admit that it's a bit of a stretch to compare the Detroit area to the Vietnam war era of the movie, but hear me out.
You see, the Metro Detroit area has been hit hard recently. Decimated by auto companies sending tons of jobs over seas and to Mexico, the incredible lay offs, massive unemployment in the area and the crashing of the real estate market.
Maybe I should've called this the Perfect Storm? Nah, I'll go with my gut.
It's taken a while, but Detroit is starting to get back on it's feet.
General … (5 comments)

metro detroit: Search for Homes in the Metro Detroit Area! - 03/12/12 03:45 PM
Search for Homes in the Metro Detroit Area
 
Click any of the cities below to see available homes
 
Wayne County
 
Belleville
 
Canton
 
Dearborn Heights
 
Garden City
 
Livonia
 
Northville (Oakland & Wayne Counties)
 
Plymouth
 
Redford
 
Westland
 
Oakland County
 
Bloomfield Hills
 
Bloomfield Twp
 
Commerce Twp
 
Farmington
 
Farmington Hills
 
Milford
 
Novi
 
South Lyon/Lyon Twp
 
Southfield
 
Walled Lake
 
West Bloomfield
 
Wixom
 
*** If you have any questions about other areas, feel free to contact me.
*** Search is limited to … (0 comments)

 
E3 Rainmaker_large

Eric Michael, Metro Detroit Real Estate Professional 734.564.1519

Livonia, MI

More about me…

Remerica Integrity, Realtors®, Northville, MI

Address: 41000 W. 7 Mile, Suite 105, Northville, MI, 48167

Office Phone: (248) 912-9990

Cell Phone: (734) 564-1519

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