Southeast Michigan Monthly Market Update - July 2015

With the first half of 2015 in the books, we have been pleasantly surprised with the results. After three years of a recovering housing market, we had expected the market to slow to a more historically normal pace, instead it has accelerated into the summer.  There are some signs that the market is returning to a more moderate and sustainable pace with For Sale inventories beginning to rise and the pace of new sales, although strong, rising at a slower rate.

Home Inspection Summer Newsletter

Education is included each year in our business plan. Kay just completed the Resort and Second Home Certification to add to the various types of real estate matters she and her partner handle for buyers and sellers.  Kay said, "she sought this new designation and certification offered by the National Association of Realtors to assure she was up to date on the most important factors buyers and sellers are concerned with when they are buying real estate as a second home, vacation home, including relocations from state to state.    

The spring rush is in full bloom with the market looking very much like last spring, only slightly less hectic. All indicators in May show a strong market as prices are up (7%), new contracts written are up (15%), the number of homes for sale is up slightly (2%) and new listings entering the market are up (4%). As sellers are noticing the strength of the market, they are responding by listing their homes.

New Homes Starting under $300,000 in Clarkston Schools Forest Pointe Subdivision

New Homes with Clarkston Schools - Forest Pointe Subdivision

May 2015 Southeastern Michigan Real Estate Update

Michigan Real Estate - 1st Quarter 2015

Home Prices Heat Up for Spring

 
The following five states posted the highest home price appreciation (including distressed sales) year-over-year, according to CoreLogic’s latest index:
 
Michigan is 3rd at 8.5%
 
Colorado: +9.8%
South Carolina: +9.3%
Michigan: +8.5%
Texas: +8.5%
Wyoming: +8.4%
 

Home Appraisal is too low: now what?

The current market has improved so much since the bottom of the market. So, how it that the majority of the homes appraise while once in a while, we see a home appraisal come in low.

What can be done if you are faced with a low appraisal when buying or selling a home.

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