Bidding Wars are Back for Home Buyers

The Wall Street Journal - Friday, April 27, 2012 As of 10:01 AM Home Buyers are Stunned!  A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.....Read the Article The Pearson Group has seen "Bidding Wars" with numerous offers on the houses they recently listed.

New Legislation in Michigan now allows for 2 Principle Residence Filing Dates

Wednesday, March 28, 2012 at 4:06PM

Michigan Monthly Market Update - April 2012

Image As the market recovers, there will be fewer months where we beat the prior year. Such is the case with March 2012. In terms of new contracts written, numbers continued to show improvement over March of last year. Across all of our markets Closed Sales were down just a bit from last year. This is not a cause for concern (it would be if there were three months of decline).

Housing Market Reports are Rather Confusing

Several articles related to the "Housing Market" are included below.    One of the articles talks about how confusing it is to know....Have we hit bottom, are

1st Quarter Reports Point to a Seller’s Market in the near future.

Market Summary for Southeastern Michigan

Dan Elsea, President of Brokerage Services for Real Estate One

April 25, 2012

Lost Lake Woods Club - Real Estate Report

Reports show the housing market is improving in Florida and Michigan

The latest Case-Shiller Report shows further improvement for both Michigan and Florida. Case-Shiller is still showing most markets are still finding their bottom, in terms of value. From what we are hearing from brokers across the country the value bottom was set late last year. Also most brokers have seen the same shortage of salable inventory, thus rising prices.

US Housing Market Edges UP

Michigan and Florida are both Hitting the Top of the Lists....this time it's not in foreclosures,  we are seeing an increase in home values.

Foreigners Buy Florida Real Estate

Foreigners Buy Florida Real Estate

Buyers are recognizing the value in owning verses paying rent, even when it comes to their vacation homes. 

Nearly 40% of my sales this year in Florida have involved Canadian buyers.  Being from Michigan, I have enjoyed working with our Canadian neighbors to help them buy their US snowbird homes in Florida. 

Read the Entire Article 

 

 

 

 

 

Bill could help short sale sellers in 2013

While 20 - 25% of the home owners still have upside down mortgages, a recent bill has been proposed that would extend the Mortgage Relief Act until 2015.   The original bill was introduced in 2007 and is slated for expiration at the end of the year.  

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