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How will Ann Arbor Buyers Know When we Hit the Bottom of the Market ?

By Missy Caulk

Real Estate Broker/Owner with Missy Caulk TEAM

March 28, 2009 10:02 AM

Condo Everybody wants to know.

No one really knows.

When we will "hit the bottom" of the market in Ann Arbor.

Here is the list of price reductions in the Ann Arbor Area for the week of 3-21-09 through 3-28-09

Single Family Homes price reductions

Condo price reductions.

6190 Concert Trail in Saline, MI 48176 The only sure fired way to tell if the market has bottomed out is when it is on it's way up. Then you look back and with 20/20 Vision say, "Yes, that was it".

With interest rates low, home prices low we are in a perfect storm.

Storms don't last, either will the low interest rates and eventually prices will stabilize and then start to appreciate again.

First time home-buyers don't forget about the $8000.00 tax credit if you are going to purchase this year.

Search Ann Arbor houses for Sale

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Search Ypsilanti houses for Sale.

Search the Ann Arbor Area MLS

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KW Logo Missy Caulk & Team can be reached at 734-216-2822 or email: Missy@MissyCaulk.com

Our TEAM of 6 buyer associates are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

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Mike Mitchell

Kee Realty - Saint Clair Shores, MI

REALTOR (R)

Hi Missy, great answers to that question! I agree it is the perfect storm for buying.

Mar 28, 2009 10:11 AM

Carol Lee

Dilbeck Real Estate - Oak Park, CA

Realtor - Agoura, Oak Park, Westlake CA Homes

Fence sitters and watchers will know when the market hits bottom when they see it in the rear view mirror! And for most people, if they are buying for themselves to live in for the long term, at this point it doesn't really matter if we are at the bottom of the market, we are close enough.

Mar 28, 2009 10:16 AM

TeamCHI - Complete Home Inspections, Inc.

Complete Home Inspections, Inc. - Brentwood, TN

Home Inspectons - Nashville, TN area - 615.661.029

Missy, when you hit bottom you will feel it and hear a definite THUD...

Mar 28, 2009 10:46 AM

Kate Elim

Dockside Realty - Spotsylvania, VA

Realtor 540-226-1964, Selling Homes & Land a

Hi Missy...As REALTORS, we will know when we hear our buyers say, "I should have................".

That may be on the horizon. I'm optimistic as usual.

Kate

Mar 28, 2009 10:57 AM

Ken Tracy

Coldwell Banker Residential - Naperville, IL

Helping clients buy and sell since 2005

Hi Missy. Good stuff.

Like the post. Simple.

I need to do more posts like this...

Keep rocking!

Ken

Mar 28, 2009 11:14 AM

Teri Eckholm

Boardman Realty - White Bear Lake, MN

REALTOR Serving Mpls/St Paul North & East Metro

Missy--You mean you don't have a crystal ball and know the exact date and time when the market bottoms out so you can email all of your buyers? Would that be wonderful? I agree that now is pretty much the perfect time for a good buyer deal! :)

Mar 28, 2009 12:09 PM

Gail Robinson

William Raveis Real Estate - Southport, CT

CRS, GRI, e-PRO Fairfield County, CT

Feels like the bottom has been reached in my area. We are seeing multiple bids now on properly priced properties. I am encouraging my clients to go above list price in these situations. One of my clients lost the bid even though he went over list (there were 4 offers).

Mar 28, 2009 01:16 PM

Anonymous

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Jul 25, 2011 12:27 AM

How will Ann Arbor Buyers Know When we Hit the Bottom of the Market ?

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