May Case-Shiller Report

Click here for the May Case-Shiller report. It shows that most markets, including the Metro Detroit area, are showing a slowing down of Home value declines to even a flat (and in a few cases increasing) value market for the first few months of 2010. Those numbers reflect the combined effects of low mortgage interest rates, an improving economy, Home Buyer tax credits and reduced available property inventories. Of those, the Home Buyer tax credits had the most influence through April, but the rest helped carry some home value stability through May and June as well. So far in July we are seeing the slowing we had expected, post tax credit, but we will not be able to get a true feeling for the Michigan real estate market until September, once the market has digested the tax credit effects. The good news is our Real Estate One Family's websites are experiencing continual activity growth, showing that underlying buyer interest is growing!

Selling your home?

• 

  Fielding a Lowball Purchase Offer on Your Home

  Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale. Read
• 

  Keep Your Home Sale from Falling Apart

  After finding a buyer, all you have to do to make it to closing is to avoid these five traps. Read
• 

  6 Reasons to Reduce Your Home Price

  While you’d like to get the best price for your home, consider our six reasons to reduce your home price. Read
• 

  6 Tips for Choosing the Best Offer for Your Home

  Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers. Read
• 

  7 Tips for a Profitable Home Closing

  Be sure you’re walking away with all the money you’re entitled to from the sale of your home. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Michigan Real Estate Market Overview

The June Michigan Real Estate Market followed what we had expected, slowing from the peak activity levels prior to the tax credit expiration. The good news is that our slowdown in Michigan has been less than most of the other markets across the nation. Available home (active listing) inventories continue to fall which will help to stabilize value declines. The months supply of inventory for the Metro Detroit Area remains at a two year low of under six months (compared to the high in Nov. of 08' of over 14 months), it still remains a Buyer's market, but it is moving in the right direction.


The number of showing appointments on Real Estate One active listings in May and June fell compared to last year, which would indicate there may be fewer buyers in the market. However, there are also fewer houses available to look at so by creating a Showings/Listings comparison we can get a better "apples to apples" look at buyer activity. The graphical Index below shows buyer activity is up over last year and certainly it did fall after April, but only to the same levels as last year. This gives a positive indication that there is still pent up post tax credit demand with current buyer interest actually about equal to last year.


Showings to Listing Index - 10' vs 09'

Energy Conservation

The National Association of REALTORS® offers a booklet to assist you in learning house hold tips on energy conservation...

"As energy prices increase, it makes sense to consider the energy
efficiency of your home. If you are worried about energy costs,
you’re not alone. Nearly half of all REALTORS®, members of the
National Association of REALTORS®, say this is an important
issue for their clients and 87% say that their clients’ concerns over
home energy effi ciency will increase over the next year."

Download the booklet by clicking here, compliments of Real Estate One and NAR.

2010 Innovator Awards finalists | Inman News

Click the link below to read the Inman News article about the 2010 Innovator Award finalists and vote for us, Real Estate One - Michigan's Largest Real Estate Company!
2010 Innovator Awards finalists | Inman News