Mike Mitchell - REALTOR® - St. Clair Shores, MI

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - March 2008

If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.

The weather is finally breaking, the St. Clair Shores real estate market has been holding steady for the last few months. Total number of sales for March was down only 1 from February. I'm optimistic that April and May should be picking up.

ST. CLAIR SHORES MARKET REPORT FOR MARCH - HOMES

• There were 34 home sales that closed in March
• The average list price was $105,542
• The highest list price was $204,900 & the lowest was $37,900
• The average sale price of those 34 transactions was $100,790
• The average total days on the market was 200
• 47 homes went under contract and are marked pending for the month of March.

Of those 34 closed transactions, 17 were bank owned & 1 was newer construction (built in 2006). While it is tuff to see some of the bank owned homes selling real cheap and bringing values down, I am glad to see them to continue to sell. The sooner the inventory goes down, the sooner the market can start to recover.

ST. CLAIR SHORES MARKET REPORT FOR MARCH - CONDOMINIUMS

• There were NO condos that closed in March. I was surprised at first, but looking back at my St. Clair Shores market report for February, there were no condos that went under contract in February. There were 6 condos that went under contract in March though!

This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of April 1st there are currently 632 single family homes for sale (no this isn't an April Fools joke) ranging in price from as low as $39,900 investor specials to waterfront homes over $1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are still low and there are some great FHA loans for those that want to put little or nothing down.

For more info on the St. Clair Shores Real Estate market, contact Mike Mitchell,REALTOR ®

PRICES HAVE NOT BEEN THIS LOW IN YEARS, GREAT OPPORTUNITIES,

CALL MIKE @ 586-291-2652

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

http://www.mmhomesearch.com/

Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners.

Great news, FHA has increased their loan limits in Metro Detroit to $297,500 and the down payment assistance program is still available! Another great product offered by FHA is the 203k loan. The 203k allows buyers to borrow the money needed to repair the house they are buying. This is a good option when buying a bank owned or distressed property.

This is the time to take advantage of this buyers market, don't miss out. Some people are going to wait too long, and they'll be kicking themselves, saying I should have bought a home when the market was down. If you would like help finding a FHA approved lender, or more information on Macomb County Real Estate, give me a call, I'll be happy to assist you from start to closing!

Mike Mitchell - Realtor
GMAC The Kee Group
Direct: (586)291-2652
http://www.mmhomesearch.com/

The temperature may be in the 20's today in metro Detroit, there is snow covered yards and icy streets, but spring is coming soon, I can hear it. How can I hear it? While driving around today what did I hear on the radio, the Detroit Tigers game from Lakeland, Florida! It was so nice to hear the broadcast again, even though it doesn't look like it around here, this is a sure sign spring is close by. Oh, and incase you weren't lucky enough to catch it on the radio, the Tigers beat the Mets 4-2 in today's Grapefruit league play.

The Tigers home opener is Monday, March 31^st vs the K.C. Royals, I hope the snow will be gone by then, buy you never know with Michigan weather. Many Tigers fans are looking forward to an exciting season, I know I can't wait to go to Comerica Park and watch a game. Why do I have a taste for a hot dog all of a sudden?

GO GET EM TIGERS!

If you need any information on Macomb County, MI real estate contact Mike Mitchell

Mike Mitchell - Realtor®
GMAC The Kee Group
Direct: (586)291-2652
http://www.mmhomesearch.com/

comerica photo credit - downtown detroit partnership

Even though that pesky groundhog said 6 more weeks of winter, spring is right around the corner and the spring home buying season will be underway.

That makes right now, a great time to buy a lakefront home in St. Clair Shores. Before you know it summer will be here, and wouldn't it be wonderful to enjoy those lake views while having your morning coffee, or to have your boat docked right in your own back yard. Let's not forget about the great family barbeques to enjoy also.

As of the date of this post, there are 14 lake front homes for sale in St. Clair Shores. Prices range from as low as $280,000 to luxury homes over $1 million. There are also many canal front homes available in St. Clair Shores. Prices are lower than they've been in years, take advantage of this buyers market and find your dream home!

If you would like more information on St. Clair Shores real estate or St. Clair Shores lake front homes contact Mike Mitchell, REALTOR®

Mike Mitchell - Realtor®
GMAC The Kee Group
Direct: (586)291-2652
http://www.mmhomesearch.com

(edit/delete)

ST. CLAIR SHORES REAL ESTATE MARKET REPORT - January 2008

If you would like to know what your St. Clair Shores home is worth in todays market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation.

ST. CLAIR SHORES MARKET REPORT FOR January 2008 - HOMES

• There were 40 home sales that closed in January
• The average list price was $111,509
• The highest list price was $299,900 & the lowest was $44,900
• The average sale price of those 40 transactions was $103,753
• The average total days on the market was 171
• 43 homes went under contract and are marked pending for the month of January.

Of those 40 closed transactions, 17 were bank owned & 2 were canal front.

ST. CLAIR SHORES MARKET REPORT FOR January 2008 - CONDOMINIUMS

• There were 7 condo sales that closed in January.
• The average list price was $95,357
• The highest list price was $249,000 & the lowest was $18,900
• The average sale price of those 3 transactions was $86,492
• The average total days on the market was 273
• 6 condos went under contract and are marked pending for the month of January.
• 4 of the 7 closed condos were bank owned.

This current buyers market makes it a great time to purchase a home or condo in the Shores. As of February 1 there are currently 589 homes for sale ranging in price from as low as $37,900 investor specials to waterfront homes over 1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever.

For more info on the St. Clair Shores Real Estate market, contact Mike Mitchell, Realtor

PRICES HAVE NOT BEEN THIS LOW IN YEARS, GREAT OPPORTUNITIES, CALL MIKE @ 586-291-2652

Mike Mitchell - Realtor
GMAC The Kee Group
Direct: (586)291-2652
http://www.mmhomesearch.com/

Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners.