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. 

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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.  

Michigan Real Estate Report

A new month reveals that the market continues to improve. Pending sales were up and there continues to be a significant number of sales with multiple offers. It is the best time in the last six years for sellers to test the market: values are up over last year and many sellers will be surprised at how far up the market has moved.

Home Prices Tick up in Michigan

No surprise to "The Pearson Group"   .... The up tick has been happening for months now in certain price points and locations.  Now may be the best time for seller's who have been waiting for a brighter market to make their move.




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Thinking of Buying a Home in Florida?

Florida real estate market starting to turn around

 Inventories are down, lending has loosened 
By Adam McDowell, National Post February 28, 2012

"Realtors are trying to recruit potential buyers with the message that anyone thinking of buying a home in Florida ought to look now, because the bargains won't last forever."

Is Housing more Affordable?

I found this to be a good read since we have been telling folks for the past couple of years that they are far better off to buy now than to pay rent. After reading this article, I still believe that is true......for most people

Trends in Housing Affordability