What an exciting month April was for Chesterfield Township single family & condo sales!
30 single family homes sold in April, compared with 26 homes in March. I had a feeling
that along with the better weather and buyers feeling a bit more confidence in the mortgage
market that we would see a strong month.
Surprisingly, 18 condos sold in Chesterfield Township in April, which is up substantially
from March which only had 6 condos sold! This is certainly great news for those condo owners
who have been working hard and waiting patiently for their homes to sell.
The total time on the market for the homes and condos was higher in the month of
April, but I believe that number is a bit skewed because of one or two homes and condos
being on the market considerably longer than the rest of them. Next month should bring
a balance back to those figures as we have been seeing a reversing trend recently in the
time it takes to sell a home in Chesterfield.
Personal observations:
Home buyers are back out in droves seeking the good deals and taking advantage
of the low interest rates.
More homes and condos are being purchased using FHA & VA mortgages then we've
seen in years.
We are seeing many more multiple offer situations with well priced homes. Hint to
buyers: If you like it, don't wait to make an offer!
One more nice observation: Of the 30 residential homes that sold in April, 13 of them
were foreclosures. Not only are the bank owned homes selling and leaving the market,
but privately owned homes are being sold in a greater margin than the bank owned homes.
If you would like to view any of the homes that are currently for sale in Chesterfield Township
please don't hesitate to contact me. I would be happy to give you a tour of our area, and
work with you as a partner for your real estate needs.
Search Chesterfield Township Homes for Sale
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REALTOR® , RE/MAX Advantage 1, Inc.- Chesterfield MI -586-840-1876 (direct line) Serving home buyers and home sellers in Macomb County MI. Conveniently located near SANG. http://macombhomes.com
This is why I continue on - Looking back on a week of touching experiences.
Sellers remorse is unfortunately alive and well in Michigan
The Flip-side to Feedback - Or - This is why I balk at giving it..
I'll let the pictures tell the story - a sad foreclosure in Macomb County MI
Anyone else in Hockeytown sleepy this morning?
Earning my fictional Masters Degree in Real Estate
A foreclosure success story - finally one to rave about instead of ranting.
How many of us have forgotten about the USO? - Memorial Day 2008
Sometimes you have to laugh at the absurdity of it..."Hurry up and wait"
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That sounds like good news, maybe things will turn around. One of the keys - getting those REO properties gone.
Sounds like my area, Kris. Lots of our foreclosures are getting multiple offers and my team is having to compete. It's like a sellers market for those homes. Hopefully when they are gone, the other inventory will decrease, just like the new construction homes. Many builders, no most builders are not doing spec houses so that is helping too.
Kris, great job of providing you expert overveiw of your current market! I haven't commented on your great posts for a while...so, hi!
Kris, It's wonderful to hear about the condos and the market in your area in general. Maybe things are finally turning and the weather is bringing out the spring buyers.
Kris, that's great to hear a positive report and I'm so glad you mentioned the possibility of multiple offers on houses that are priced right, because I have seen that happen, although it seems like many people don't believe it in this market. Let's hope May continues to pick up!
Kris, Looks as if things are starting to pick up. I noticed that the Tigers were 2 games out in their division. Gotta get those bats moving.
Kris, it's good to read good news about a real estate market! It could become contagious!
wow this is great news for your sellers -hope those buyers are finding you as their agent - they certainly should have the wonderful representation you offer
Wow, considering how Michigan has been doing, you have some good news being reported in this blog! Congratulations! I hope your market is turning around!
Gary: Absolutely agree - when the REO's are just a trickle in the market then we'll start seeing the supply & demand be more in balance.
Missy: Yes, multiple offers are now the norm for those properties. The builders in our area have pretty much stopped building. I am shocked when I get flyers now for any new construction projects.
Diane: Always good to see you! Thank you.
Carole: The nice weather has made a huge difference in my opinion!
Mike: The buyers believe it (about the multiple offers) as soon as they miss out on a home. I can't stress strongly enough that if you find it buy it. Now.
Michael: They're now 3 games out. Unbelievable that it isn't much much worse.
Thesa: I'm busier than I have been in years. Now it's simply getting the offers to the banks to work out...
Kirk: Sales prices are still sliding lower, but the activity and saturation is much better. Thank you.