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The Market is Terrible

It's no secret that the real estate market is not great right now. All you have to do is turn on the radio or television, read the newspapers or internet and you'll hear about it. I'm not writing one of those posts that make it sound like everything is just wonderful. It's true, the market is down, in fact way down. That however is great news for buyers.

Take it from me as someone who is out there working in real estate full time, it is a great time to buy. Let me say that again .... IT IS A GREAT TIME TO BUY! I'm constantly amazed at how low Macomb County real estate prices are today.

First time buyers, you have a fantastic opportunity right now. Values are so low you have the opportunity to purchase a home that 2 or 3 years ago would have never been in your budget. In many areas homes are at 1990's prices.

There are many bank owned homes available at unbelievable prices, yes many of them need some love, some sprucing up and updating. Some need a little more extensive repairs, but at the price you can get them for many are still worth it. That along with the First Time Buyer Tax Credit makes it the perfect time to buy a home.

Not interested in updating or fixing one up. No problem. There are terrific deals on private owned homes also. The market has adjusted and finally most sellers and their real estate agents have come to terms with this, and have priced their listings accordingly. There are plenty of private owned homes available, you don't have to buy a bank owned foreclosure or short sale to get a good deal, they're just one of your many options.

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

For more info on the Macomb County Real Estate market, contact Mike Mitchell,REALTOR ®

Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652

http://www.mmhomesearch.com/

Mike Mitchell - Realtor

Posted by Mike Mitchell - REALTOR® - St. Clair Shores, MI on 03/17/2009 09:22 PM

Comments (9)

macomb county real estate, first time buyers, first time buyer tax credit

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9 Comments on The Market is Terrible

MAR

You are correct sir! A great time to buy it is.

It is a great time to buy and looks like with the warmer weather, the buyers may be starting to come out of hibernation.

how much is the entry level house like 3BR/2BA 2 car garage 1500+ sq ft, less than 10 yo? and how much will it rent for?

MAR

You're not kidding. Prices are down, interst rates are at record lows. Still, some people will keep trying to time it, trying to hit the exact bottom. That's a sure way to miss it. No one will know what the bottom is until the market starts going back up.

Mike, it could be an even better time to buy after we hear what's in store for our area at the meeting on Monday. Anything that can help home buyers purchase right now would be a good thing overall for them, for the economy and the entire county.

Michael Lee - yes it is!

Ron - I hope you're right. I'm ready for the spring selling season!

Maria - that would depend on the area/city. There are many choices with a large listing inventory.

Michael Mackey - you are so right, thanks for your comment.

Kris - I'm looking forward to learning about that new program at the meeting on Monday. Hopefully it will help our entire area!

MAR

Mike, you're right, buyers are coming out of the woodwork! Cash investors, first-time FHA buyers, and conventional financing buyers are all trying to out-bid each other for those rock-bottom properties!

Join my new AR group and post your blog at http://activerain.com/groups/virtualoffice

Regina P. Brown

MAR

Hey Mike: You are right. The market is terrible AND it's an OUTSTANDING time to buy. MY only hope is that first-time buyers will take full advantage of this current buying opportunity.

Regina - thanks for the invite, I joined your group.

Tom - I think we have to get the word out to first time buyers! Excellent opportunitys!

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