miOaklandCounty.com

We have seen some ’super-sized’ transactions lately. A flurry of high end homes have sold in the last few weeks, with list prices from $2,000,000 to $5,000,000. Yes, some of these homes have been on the market a long time. But something has happened that indicates, at least to me, that the wealthiest buyers are now feeling like the time has come to buy. They sat on the fence for much of last year, but they have returned to the market since the beginning of this year.

Also hot right now: lake front living. The beginning of the boating season is here and this is when people want to be out on the lakes. We saw some big homes move on Lake Angelus and other area lakes.

I think this bodes well for the entire real estate market in South East Michigan. Among other things, these buyers are business owners who create jobs in this community. Their purchases will help to stimulate the economy. I think it should also restore some confidence for purchasers in other price ranges. As I have said before, the showings in our office are up substantially. Buyers are out looking. Lookers become buyers.

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Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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