Last winter we helped Alex and Donna Crowther move from Emmons in Birmingham into a home they had been eying on Cass Lake. Dmitry and I managed to sell their home in 6 days under very challenging circumstances, but it allowed them to make the move up to their dream home. USA Weekend Magazine picked up the story and it comes out in this weekend’s edition.
Your dream home finally may be affordable. That’s what happened to Donna and Alex Crowther of Bloomfield Hills, Mich. They were boating with friends on Cass Lake last year when they spotted a “for-sale” sign on a gorgeous three-bedroom home overlooking the water. “We went to look at it, even though we knew we could never afford the $850,000 asking price,” Donna says. Several months later, when the sellers were about ready to move to the West Coast, the Crowthers nailed the sale for $775,000. Faced with the new mortgage, the couple suddenly had a new worry: selling their current home in a neighborhood that had almost 50 competing properties for sale. They priced it aggressively at $530,000 — about $50,000 less than a similar home already for sale across the street. The strategy worked: They had a buyer in just six days. “We lost money on the sale, but we were making it up on the other end because we got such a great deal,” Donna says. “I never dreamed we’d live in a house like this. Every day looking at the lake is like being on vacation.”
The message of the article is that there is good news to be found in a “bad real estate market” (that was USA Weekend’s term, not mine). Amongst other things, there is opportunity if you are moving up. You may not get what you would have a few years ago, but you are buying much more than you would have been able to afford then too.
Unfortunately, the article doesn’t mention that we were the Crowther’s agents, because they decided to quote me in other parts of the article, particularly the segment on those I have named Sell-Lords: sellers who become landlords because their home is not selling. They liked my colorful story about a peeing great dane. How nice it would have been to be associated with a successful home sale in a challenging market instead of a urinating dog. Oh well.
[tags]birmingham mi real estate, usa weekend, home sales birmingham mi[/tags]