![]() |
|
|
Some people are waiting to buy Metro Detroit real estateand others are jumping into the real estate market. Of course Yun from NAR is spinning again. Like the last 2 years he is calling the bottom and still saying it's a great time to buy.
My thoughts are it's only a good time to buy if you are secure in a job.
It's only a good time to buy if you can afford the payments on a new house.
It's only a good time to buy if you have some extra money as a backup for repairs.
Is it the best time to buy? I don't know that. But interest rates are still very low, homes prices are still down there, and the availability first time home buyer tax credit dollars. So in that context yes it is a good time to buy.
Are we at the very lowest prices of homes? That I don't know. But here are my thoughts. I'm a bear on Metro Detroit's economy and I call myself a realist. Many call me a pessimist for telling the truth as I see it. But we may have reached a bottom here in the metro Detroit real estate market area. Metro Detroit home prices have gone up in the last few months because of all the first time home buyers. But I don't know what next year will bring. Will home prices still trend up, remain flat, or fall again?
Our economy is in the dumps. And we are entering into the second round of the fight. This round is going to bring layoffs of teachers, city employees, county employees, (including police and firemen). Then there is going to be a reduction in state and county spending. This is going to affect road construction, community programs, and public assistance programs.
How will this affect the Metro Detroit real estate Market? I don't know? Because I don't know how many people will be laid off. I don't know how deep the cuts will go. How many people won't be able to make their house payments. How bad will it hurt the Detroit? I don't know. I don't know if this upswing in Metro Detroit home prices is just a 6 month blip or will it continue up? We shall see.
So my advice to you is buy if you are comfortable and don't let any real estate agent or media spin tell you it is right for you. Buy if you are ready, buy if you can afford it, buy if you have a rainy day fund, buy if your job is stable.
Just my thoughts. May today be the day you start planning your financial future.
![]() |
|
|
Ferndale Monthly Market Analysis Homes Sold Oct. 2009
|
October. 09 median sale prices increased 18% from Sept. 09 & a 24% increase in # of homes sold. Private owned median price stayed the same Oct. 09 from Sept. 09. Bank owned homes median price increased 29% in Oct. 09 from Sept. 09. |
|
October 09 median sale price increased 8% from October 08 |
|
Yr ending Oct. 09 median sale price compared to yr ending Oct. 08 decreased 48%; |
|
Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Sold October 2009
|
283 listings: |
|
49 Sold listings: |
|
|
Median List Price |
$79,900 |
Median Sold Price |
$55,100 |
|
Avg. Days On Market |
151 |
Avg. Days On Market |
86 |
|
Private Owned |
244 listings |
Private Owned |
24 Sold |
|
Median List Price |
$89,700 |
Median Sold Price |
$92,000 |
|
Bank Owned |
39 listings |
Bank Owned |
25 Sold |
|
Median List Price |
$36,900 |
Median Sold Price |
$34,000 |
Active & Sold September 2009
|
289 listings: |
|
37 Sold listings: |
|
|
Median List Price |
$87,000 |
Median Sold Price |
$44,900 |
|
Private Owned |
253 listings |
Private Owned |
21 Sold |
|
Median List Price |
$94,900 |
Median Sold Price |
$92,000 |
|
Bank Owned |
36 listings |
Bank Owned |
16 Sold |
|
Median List Price |
$29,950 |
Median Sold Price |
$24,250 |
Active & Sold October 2008
|
274 listings: |
|
40 Sold listings: |
|
|
Median List Price |
$79,950 |
Median Sold Price |
$50,744 |
November 1, 2007 – October 31, 2008
|
602 listings: |
|
368 Sold listings: |
|
|
Median List Price |
$79,993 |
Median Sold Price |
$73,800 |
November 1, 2008 – October 31, 2009
|
689 listings: |
|
455 Sold listings: |
|
|
Median List Price |
$59,900 |
Median Sold Price |
$40,000 |
Ferndale Michigan Market Analysis for October 2009 Compares only median sold price of residential homes sold in Oct. 09 with Sept. 09 & Oct. 08; year ending Oct. 08 with yr ending Oct. 09. It shows all homes sold then private owned vs. Bank Owned/HUD. To exclude leases in data, minimum sale price used was $5,000.
Market Analysis for Ferndale September 2009
Market Analysis for Ferndale August 2009
Market Analysis for Ferndale July 2009
Market Analysis for Ferndale June 2009
Market Analysis for Ferndale March 2009
Market Analysis for Ferndale February 2009
Oakland County Market Analysis for July 2009
Oakland County Market Analysis for June 2009
Oakland County Market Analysis for May 2009
Ferndale Michigan Realtor selling Oakland County Real Estate. TishHouse sells Houses - selling Real Estate in Southeastern Michigan with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service. Follow me on Twitter.
![]() |
|
|
Market Analysis for Homes Sold in Berkley MI October 2009
|
Oct. 09 median sale prices increased 15% from Sept. 09 & # of homes sold increased 8%. Private owned median prices increased 10% in Oct 09 from September 09 & # of homes sold stayed the same. Bank owned homes median price decreased 31% in Oct. 09 from September 09. |
|
Oct. 09 median sale price decreased 30% from Oct 08 & 21% increase in # homes sold. |
|
Yr ending Oct 2009 median sale price compared to yr ending Oct. 08 decreased 30% |
|
Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. |
Active & Sold October 2009
|
165 listings: |
|
24 Sold listings: |
|
|
Median List Price |
$130,000 |
Median Sold Price |
$97,000 |
|
Avg. Days On Market |
149 |
Avg. Days On Market |
119 |
|
Private Owned |
144 listings |
Private Owned |
15 Sold |
|
Median List Price |
$135,000 |
Median Sold Price |
$116,500 |
|
Bank Owned |
21 listings |
Bank Owned |
9 Sold |
|
Median List Price |
$69,900 |
Median Sold Price |
$33,500 |
Active & Sold September 2009
|
174 listings: |
|
22 Sold listings: |
|
|
Median List Price |
$126,000 |
Median Sold Price |
$82,000 |
|
Private Owned |
152 listings |
Private Owned |
15 Sold |
|
Median List Price |
$129,900 |
Median Sold Price |
$105,000 |
|
Bank Owned |
22 listings |
Bank Owned |
7 Sold |
|
Median List Price |
$82,400 |
Median Sold Price |
$48,900 |
Active & Sold October 2008
|
160 listings: |
|
19 Sold listings: |
|
|
Median List Price |
$135,000 |
Median Sold Price |
$138,800 |
November 1, 2007 –October 31, 2008
|
376 listings: |
|
235 Sold listings: |
|
|
Median List Price |
$139.900 |
Median Sold Price |
$138,800 |
November 1, 2008 – October 31, 2009
|
384 listings: |
|
243 Sold listings: |
|
|
Median List Price |
$119,900 |
Median Sold Price |
$98,000 |
Monthly market analysis for Berkley Michigan Real Estate compares residential homes sold in October 2009 with September 2009 & October 08; year ending October 08 with year ending October 09. It shows all homes sold then private owned vs. Bank Owned/HUD. To exclude leases in data, minimum sale price used was $5,000.
If you are looking to Purchase a Home, click here for an IDX Home Search
If you are looking to Sell a Home, click here for an outline of our Marketing Strategy
Market Analysis for Berkley September 2009
Market Analysis for Berkley August 2009
Market Analysis for Berkley July 2009
Market Analysis for Berkley June 2009
Market Analysis for Berkley May 2009
Market Analysis for Berkley April 2009
Market Analysis for Berkley March 2009
Oakland County Market Analysis for July 2009
Oakland County Market Analysis for June 2009
Oakland County Market Analysis for May 2009
Berkley Michigan Realtor selling Oakland County Real Estate. TishHouse sells Houses - selling Real Estate in Southeastern Michigan with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service. Follow me on Twitter.
![]() |
|
almost a year ago I wrote a blog about taking it all off and how the extra details mean a lot.
Right now I'm working on two estate and the same time. This has really been a challenge. One is a nice little condo in Royal Oak that has been on the market for 2 years. Other units have been slowly selling around it and this one has stayed on the market.
The realtor brought me in thinking that I could do some magic.
The first thing that struck me was the front door knocker. Being a condo we needed to stay in the same theme as everyone else so I made a great change with a little polish.
This is what it looked like the first day.

And then the next day. Do you think this will make a difference?
The 2nd Estate is in Bloomfield Township. It was built in 1963 and has had very few updates. See they wallpapered the ceiling. This house has been a challenge because very very few of the electrical outlets and switches were grounded.
This is the old style electrical outlet

These were not grounded although the outlets had grounding wire in the wall.
They have been now replaced with three prong grounded plugs

We have also installed GFI where they are needed.

These things take a little bit longer when getting a house for the market.
Stage-Show-Sell, LLC feels that this investment will bring in an extra $10K. The buyer won't beat us up for bad electrical.
The Bloomfield Twp. home will have it's pre-listing inspection today.
Both of these Estates will be market ready in the next couple of days.
Watch for the before and after shots.
![]() |
|
|
Small Business Expo in Southfield – How to Get Business Lines of Credit in any Economic Climate
Imagine how your life will look when you have all the money you need to build, operate and expand your business
Detroit, MI – Business lines of credit are available in any economic climate; true, they’re harder to obtain if you lack the knowledge and skills of a savvy business owner. Pat Gage is the Opportunity Creator and expert on how the business credit system works. Pat Gage has created a system for establishing business credit and raising unlimited capital for any business.
Pat Gage will be one of 4 speakers presenting valuable information for business owners and entrepreneurs at the Small Business Expo in Detroit. This event is free to attend and participants will learn how to take advantage of current business opportunities by increasing sales while reducing expenses. “Financial challenges are among the greatest challenges business owners face,” said Gage. “My system has helped thousands of business owners obtain business capital.”
The Small Business Expo in Detroit is hosted by Ralph (Mark) Maupin, founder of National Real Estate Network, and sponsored by MyMortgageAuditor.com, a company who provides forensic loan audits and mortgage modification services to distressed homeowners in Southeast Michigan.
Mark Maupin said, “This is a free event that you cannot afford to miss out on if you have any concerns about the profitability of your business during these economic times. We promise to provide practical information to improve your business profits while reducing your work load.”
The 8 hour seminar takes place at the Embassy Suites Hotel at 28100 Franklin Rd; Southfield, MI 48034; Saturday, November 21; from 9am to 5pm. The event is free to attend; but seating is limited, so reserve your seat in advance. Leave a message at 313-659-8654 or visit http://8hourseminar.com/ where you can fill out and submit a form.
Your Ticket has been paid for by our Sponsor:
Mortgage Auditors of America
Their Team can Stop Foreclosure in it’s Tracks!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved