Today we welcome a new contributor, Robert Hintzke of Woodward Appraisal Group. We are glad to have his unique perspective here on miOaklandCounty.com.
Today’s real estate market in Southeast Michigan is one of fear and apprehension for sellers but I’m here to tell you that there is light at the end of the tunnel. There are a few things I want to explain as to why it’s a good time to buy and sell real estate.
First, like any market, real estate can increase and decrease in value. The reality is that the peaks and valleys of this market are subject to the same factors as the stock market: fear, greed and a lack of information. As an appraiser for 20 years I’ve seen numerous situations that illustrate these factors. Any agent can tell you that being involved in a real estate transaction is an emotional decision. Right now with so much negative news in the business community most people think the sky is falling and real estate values with it. Now let’s put our feet on the ground: the real estate market is going through an adjustment due to different expectations of buyers and sellers which is normal and healthy and will result in a stronger market!
Last week the local MLS reported a 6% increase in sales volume in the last year. This is good news, but it will take a while for people to believe it. The train of expectations needs to round the next curve in the track before buyers and sellers will believe it. That’s why the smart person should act now. If you are a seller, hire the best agent you can find who will properly price, stage and market your house for maximum return. Granted, it might not be what you thought you could get a few years ago, but when you move to buy again you’ll make it up paying less than you think for your next house. If you are a buyer, shop carefully and when you find something you want to offer on, be aggressive. Many sellers are willing to assist with closing costs, for example, which can save you, the buyer, potentially thousands of dollars that would have come out of your pocket. I can tell you that once the market adjusts, these incentives will disappear in a heartbeat!
The ball is in your court. Take advantage of an opportunity that won’t exist forever. Real estate is a cycle of ups and downs. In our area the ups and downs are not as dramatic as in other areas of the country. As an experienced real estate professional I can tell you people will not give their houses away, but it’s about as good as its going to get. Find and use professionals whose services will pay for themselves in knowledge and experience. Take responsibility for creating the opportunity of your life to live in the home of your dreams!
Robert Hintzke is a state licensed appraiser with over 20 years experience in SE Michigan residential real estate. He has personally appraised thousands of properties and invested in local real estate with positive results. He can be reached at wdwdappraisal@netscape.net
[tags]michigan real estate, investing in michigan real estate, Robert Hintzke[/tags]
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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