Metro Detroit Home Sales UP for the 4th Consecutive Month
Published May 6th, 2008 in Beverly Hills MI Real Estate, Birmingham MI Real Estate, Bloomfield Hills MI Real Estate, Buyer Information, Market Updates, Metro Detroit, Royal Oak MI Real Estate, Seller Information, Troy MI Real Estate, Uncategorized.Yes, that headline is correct. Sales are up over last year for the fourth month in a row, according to our MLS, Realcomp II. We’ve told you, we are seeing a lot of activity, and we are busier than ever. Spring has sprung! Here is Realcomp’s report
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- Yesterday I tried to show 4 Birmingham homes. Two of them went under contract over the weekend. The third was a short sale and there is an offer in it too. The 4th was just put up for rent and sale, and a tenant had put in an application. So we will keep looking because others got there before we did.
- An agent who I respect enormously for his market knowledge and decades of experience said to me last week, “2008 will be the year that people look back and wish they had bought a new home.” I think he is right.
- That said, a seller still needs to be aggressive in pricing a home and completely on top of making sure it is in the best possible condition. Especially with homes that have already experienced a long marketing history. We just had a stager go into two homes and I am excited about relaunching them now that they have been freshened up and repriced.
- Buyers, there is nothing wrong with paying full price or more. Sometimes the house is actually worth more than the list price. You might miss out on a great house because you’ve been told that your first offer in this market needs to be low. Agents from throughout South East Michigan are all telling me that they are seeing multiple offers on the best properties this Spring (if it is well priced and in great condition…)
Want to know more? Give us a call.
______________________________________________________________Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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Your market sounds similar to ours in that sales have picked up a bit. Better than last spring. Pricing has become a challenge for both buyers and for sellers. Just like in our market the good ones can still get away. some buyers like to wait for a price drop on homes that are already priced as low as they can go while other buyers are ready to make an offer.