First-time Homebuyer Traffic takes a Nose-Dive in May

Homebuyer traffic nationwide tumbled in May, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions. Most of the decline was attributable to first-time homebuyers who sharply reduced their home shopping last month. The survey's first-time homebuyer traffic index, which measures home shopping activity on a scale of 1 to 100, registered an anemic 35.1 in May. This was down from an index of 63.5 in April. Since September 2009, the index had never been below 50, which represents a flat, or neutral, condition in home purchase activity.

House Sales in Clarkston MI Improved

However.........Improved could mean past tense and "The Pearson Group" is in high hopes that this is a very temporary trend that we have just identified.  

June and April Supply and Demand Studies have been posted for comparison.  There was a significant decrease in the inventory and  increased demand that we contributed to the recent tax incentives to buyers.  

Clarkston's Sold Homes

June 15, 2010

Recent Sold Report

Homes that have sold in Clarkston since March, 2010        

Bill would extend home buyers' deadline for tax credit

How many buyers will lose their tax credit without this extension? We have one buyer who has waited 7 months for a short sale and many more buyers who are caught in the pile becuase the tax credit incentive did cause a BIG increase in sales. Time will tell but I am estimating about a 25% decrease since the expiration of this incentive.

Market Update

 May 2010

Dear Team,

Think Housing is Recovering? Think again.

Positive news lately about a recent increase in home sales has been GREAT.  The recent frenzy and market conditions has us working 7 days a week to help buyers sort through the left overs, stalk the internet for upcoming listings, and further attempt to understand  the rhyme or reason of  list prices and home values.&nbs

Restore Order to Your Garage

I certainly need to tackle my garage.....thought this CNN Article provided me a guideline that would help us restore order to our garage.  Thought I would share it in case, you too, have a garage that could use a facelift.  Now would someone provide me the time and desire??

Housing market diagnosis: Bipolar

By Les Christie, staff writerMay 17, 2010: 9:38 AM ET   NEW YORK (CNNMoney.com) -- Bipolar is what comes to mind when diagnosing the post-homebuyer tax credit market. There are two separate forces pulling it in opposite directions, and experts aren't yet sure which path the market will take.

Housing help for unemployed, underwater borrowers

President Obama announced Friday a $1.5 billion program to help borrowers in the five states hit hardest by the housing crisis.

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