As the real estate market in Macomb County MI can be referred to as challenged the last year or so, home sellers who need to move have become more interested in renting (leasing) their homes than ever before. Renting or leasing your home in this market can be a good option for some home owners in Chesterfield Township.
However, one of the drawbacks to this from a real estate agents perspective is that when the data is compiled at the end of each month the leased prices are being reported as "sold" data. In order for a real estate professional to determine the market value of your home they must strip out those homes that have been rented to reveal the actual sales (sold - transferred ownership) data.
Below is a slide show presentation of what the data reveals when the market report for Chesterfield Township MI October 2008 home sales has been stripped of its rental data.
(During the month of October 5 homes that were on the market in Chesterfield Township were leased-rented. Those reported sales were actual monthly rental terms. If these are included in the sold data it would appear that the average sales price of the homes that did sell (transferred ownership) was lower by $20,139.00.
If you are a homeowner in Macomb County MI I would strongly advise that you ask your real estate agent to give you the nekkid version of the market reports. Ask him/her to strip the rental data out of their reports to you. After all, you want to know what the range of value is for homes that actually sold, not those that were leased.
Kris Wales a Macomb County MI real estate agent - search homes for sale
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REALTOR® ,Keller Williams Realty - Lakeside Market Center -586-536-5453- Macomb County MI- Serving home buyers and home sellers in Macomb County MI http://macombhomes.com Ask me about buyer agency!
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I write my own reports as nekked as you do so that consumers can see what is *really* happening. They're lucky to have you in Macomb!
Linda: It is misleading. Real estate agents who only look at the total picture without doing some stripping of the data aren't giving a clear picture for a seller.
Chris: Me too. Our clients deserve that. Thanks Chris.
Kris, you are certainly getting fancy! I am not sure of the leased vs sold data....
your friend in Charlottesville!
Charles: This is one area I'm really going to keep my eye on...strip out the leased data and the picture looks much less grim.