The good news is that I've been so busy that I've let my blogging fall off. The bad news is that I've let my blogging fall off.
Generally speaking, the housing market is finally looking up! I know you've been reading that the number of sales is down - and that's true. But they're down because we have such a shallow inventory. Almost every home that I've listed in the last 9 months or so has gone under contract within 15-25 days, had multiple offers and sold for above list price. Short sales aren't included as they take longer and have special problems for many potential buyers.
The days on market (DOM), is flat compared to last year, but average sales prices are up almost 9% for single family homes and a whopping 46% for condos. Vacant land sales have jumped, and there's a lot of new builds happening in the South Lyon area. All the while we're at extreme lows for mortgage interest rates, too.
Things are also happening with commercial properties. Downtown Brighton is bursting at the seams. Good luck finding a space there! Downtown Howell has some interesting things going on, too, and there's no doubt that the Opera House project has helped a lot. Watch for a full-fledged comeback there, soon. There are plenty of commercial spaces on major business routes in the surrounding townships, though, some in very high traffic areas.
I'm working with numerous buyers that can't find a house they want. Many of our showings get cancelled because the house goes under contract before we can get into it. Still, it's an exciting time to be in Real Estate.
If you have specific questions, please drop me an email or give me a call. And I'm
really looking for listings. If you know somebody that is considering selling their home, please ask them to give me a call.
