We’ve heard lots of grumbling about metro Detroit’s real estate market. Undeniably, things have slowed down and there are some frustrated sellers out there right now. But the fact remains that real estate is still a sound investment. This time, it’s not us delivering the message.
If you are renting, it’s time to take the leap. Metro Detroit has not seen a buyers’ market of this calibre in decades, if ever. With low interest rates on your side, there are really very few justifiable reasons financially speaking to remain a renter.
And to those frustrated sellers, I can give you my anecdotal report that we have had more buyers calling in the last few days AND showings are up on our listings. The tides seem to be turning…
[tags]metro detroit, home buyer, rent[/tags]
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Sandra 01.04.07 at 10:13 pm
You’re right Maureen. I think for those who can buy they should. I saw an article in the Free Press that Google will be coming to Ann Arbor and I think that will open up the market in Michigan as well and especially if Detroit can get a good transportation system from Ann Arbor to the outlying areas. Also ,Google will create some high paying jobs too and with the wifi and the internet people can work from anywhere. So we’re welcoming Google. It’s a good thing. Another possbility is for people to learn about making money with foreclosed properties, renting them out until they can flip and buying the home of their dreams somewhere else. So in the Michigan market there is something for everyone.
Thanks for raising this issue.