This week Michigan had some good news. 

Our unemployment rate dropped by .2% from 15.2 to 15%.  That may not seem like a lot to be thankful for but it is the first time in months that the unemployment rate did not rise.

Also on a national level home sales rose by 7% then a consider that the Midwest rose by 8.5%.  The Selling in Any Market www.flexitrealty.comnumbers are hard for anyone to grasp because you have to know where they come from.

The National Association of Realtors reported home sales were up but sell prices were still down for our area.

What makes up the numbers.  Are these traditional homes or is the sales fueled by foreclosures and the first time buyer taking advantage of the "First Time Buyer Credit"?  Most of the inventory that is selling is to "First Time Buyers" and the rest is investors looking to take advantage of the best home values in decades.  We also have some traditional sales mixed in to the totals.  We are still overAuthorized HUD Broker www.flexitrealty.com 50% if the total homes sold being foreclosures, short sales and HUD homes.

Traditional sales of homes that are not foreclosures, HUD homes or short sales have seen the average sell price drop a bit further.  So while we are seeing good news in the unemployment numbers for this month we have a ways to go before we see our local market rebound. 

More homes are selling but what is creating the bounce in numbers?  The end of the "First Time Buyer Program" is November 31, 2009 at midnight.  The clock is ticking and people are looking to take advantage of homes priced lower than we have seen in years.

Using a professional buyers agent to help you find one of these great buys before the program ends costs you nothing.  Remember a sellers agent works for the seller not YOU.  You will not get a better deal from anyone that does not represent your interests.

Buyer agents only work for the buyer.

Flexit Realty logo www.flexitrealty.comGary L White www.flexitrealty.com

Live in the Grand Rapids or West Michigan area, not under contract?  Like to sell or buy a home....give me a call.  It could save you thousands in your next real estate transaction.  FlexIt Realty mean "Flexible" selling and buying programs to meet our clients' needs.  Always confidential, Never Pressured.

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Thanks for Stopping By and Leaving a comment.

Gary L White Broker/Owner Flexit Realty

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This post has been included in Michigan Real Estate News Kent County, MI Real Estate News Grand Rapids, MI Real Estate News
Post is included in group: Greater GRAND RAPIDS, MI Real Estate
Post is included in group: Local Expert
Post is included in group: Michigan Foreclosure and Short Sale News
Post is included in group: Michigan Realtors
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4 Comments on National Versus Local Markets

AUG
23
2009
569,544 Points 1 Featured Post Localism Sponsor Outside Blog

Hi Gary,  Take any good news and run with it.  Michigan has endured such a " Beat down " over the past several years it is great to see something positive !
12:23pm • #1
1,072,306 Points 70 Featured Posts Outside Blog Attended Rain Camp

Hi Bill, we are starting to see some progress but have a long way to go.  Thanks for the comments Bill.  Florida dodged another massive storm....another possitive!  What was the name...."BILL"!  :-)

Thanks again for the comments Bill.
12:25pm • #2
AUG
28
2009
953,452 Points 93 Featured Posts Outside Blog Called Shot Master

Any news is good news these days, but 15%.  Wow.  In the Atlanta area it is over 10% and it is so noticable.  The rate does not tell us everything either.  Many friends of mine are working for half pay, work sharing or furloughs.  It is tough to pay the bills, the mortgage, and car payments and put food on the table.
9:17am • #3
AUG
30
2009
1,072,306 Points 70 Featured Posts Outside Blog Attended Rain Camp

Hi Jim, another statistic that isn't know or openly discussed is just in our metropolitan market we have 6000 vacant homes!  That will make you stop and think!  Thanks for the comments Jim.
9:13am • #4


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Gary White~Grand Rapids Home Selling Pro Call: 616-784-2360

Grand Rapids, MI

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Grand Rapids Real Estate & West Michigan real estate markets, trends and issues discussed. Technical and personal thoughts pertaining to buying and selling real estate. How-to information, view 1000's of active listings. Go to our website for over 30 Free Reports that could save you thousands. For immediate service... Call: 616-784-2360 or Email: GaryWhite@FlexitRealty.com Flexit Realty® offers "Flexible Real Estate Home Selling Options"


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