Southeast Michigan Monthly Market Update - June 2015

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

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.

Seven Homeowner Tax-Time Tips

Note the last tip, but not one to overlook if your job caused you to move more than 50 miles......you might be able to write off some of that expense.

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