Home values in Northville & Northville Twp, Michigan continue to firm slightly, early this year. Home inventories continue to be low with only 166 homes on market. The main cause of the current low inventory is that Bank Owned (foreclosure) inventory continues to be slim. Banks have been slow to bring their homes to market after the delay caused by MERS lawsuits this past Fall. Expect Bank Owned homes to start to come to market this Spring, as banks attempt to clear up their inventory. This may cause home values to temporarily fall again.

Median Sale Prices

Zip City Sales YTD 2011 2012 % New Listings from 1 yr ago

48167 Northville & TWP 7 $70,000 $148,500 -55.00

48168 Northville 27 $382,263 $299,320 - 1.52

I will give you a quick Northville real estate update on one of the biggest issues Northville home buyers are facing as February 2012. It is the lack of inventory and the competition of other buyers.

If a piece of Northville real estate is priced right it is selling within a month. Many times there is more than one offer. So home buyers that are looking in Northville are many times not getting the first property they are bidding on. In fact some houses are going so quick that they are sold before the home buyers even get a chance to look at them.

It is a common statement for me to here from a home buyer that comes from another agent. I’m finding houses but they are sold before I even get to see them. The key is get daily emails from your buyer’s agent. Or you must look at Realtor.com daily. That is the best place to look for updated listings if you are buying a Northville home. All of the realtor’s listings will be updated on Realtor.com because our MLS systems feed into that site first. Then it is feed into other sites.

So check on Realtor.com about 1 or 2 in the afternoon and then call me with the MLS numbers. That way you may be the first person into that home that night. So if you want to be successful in buying a piece of Northville real estate get listings emailed to you daily and look for listings yourself daily.

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Guess what I'm doing today?

I felt like writing a quick blog and wanted to test the headline, to see if it "captured" your attention.

Today I'm going to watch a little football and then show a house to a client later tonight.

I'm heading up to my real estate office in Northville, MI, in a little bit to get some work done. Pre-lim stuff for a WordPress site.

Let me know if you need anything...