Metro Detroit real estate update May 2015

February 9, 2018

If you are moving to Michigan or just relocating within Michigan you will want to know what is going on in our market. It is a red hot market in the under $300,000 price range in many metro Detroit communities.

The communities that are red hot are the cities that have a low crime rate, good schools, and cities that home buyers feel are desirable. Those are communities whose homes are getting multiple offers, bidding wars, and over list price offers.

If you are moving to Michigan do not plan to make offers below 10% of list price. Low ball offers are a thing of the past. The only way anybody is even entertaining an offer like that is if the home has been on the market a long time or if it is in poor condition.

Homes that have just come on the market or are in excellent condition are selling quickly. So if you are a home buyer you are going to want to be looking at homes on line and going out to see them as soon as possible. It is not unusual in our market to see homes selling in a day right now.

The key to winning the home is to cater to what the seller is looking for. Your agent has to be pro-active and be selling you. You cannot be asking for the moon in this real estate market. If you are a FHA buyer or need seller’s concessions it is going to make it harder for you to win a home in a multiple offer situation. So your agent needs to use every possible trick he has to get you the home you want.

It is a great time to list a home if you are thinking of selling your metro Detroit home. If you need help on buying or selling give me a call at (248) 310-6239.