We have been working on improving our web site. In order to give our clients better home search flexibility we had to switch our hosting company.
In the next few days you will see the changes when you login to the site. You may need to resave your search. If this is a problem please let us know-we are very happy to help you with this transition.
You have the option to have listing updates e-mailed to you. You have the ability to have an iphone application for mobile searches on the road. Once again thank you for your understanding and we are looking for feedback on how to make your home search experience better.
Wednesday, November 18, 2009
Tuesday, July 28, 2009
JUNE HOME SALES MARK FIFTH STRAIGHT MONTH OF
INCREASED SALES IN 2009
INCREASED SALES IN 2009
Below is a time frame comparison for Oakland County: comparing data from June 2008 to June of 2009.
The number of homes sold in June of 2009 was 1,480 compared to 1183 in 2008 up 25.1%. Of the 1,480 sales 780 were foreclosures and 700 were non-foreclosure sales.
The number of homes on the market in June 2009 was 14,802 compared to 19,203 in 2008 down 22.9%.
The median sales price for a foreclosure home In June was $55,000 and a non-foreclosure was $154,000. The median sale price for all sales in June 2009 was $97,750 compared to $150,000 in 2008. That is down 34.8%.
For June 2009
Number of homes sales up 25.1%
Number of homes on the market is down 22.9%
Average home price is down 34.8%
ANALYSIS:
· $8,000 first-time buyer tax credit further strengthening the sales
· Great supply vs. demand ratio of homes in the marketplace
· Available homes priced to sell.
To search for a home go to www.johnburtrealty.com
Realcomp2 a multiple listing service provides this information with about 12,000 Realtor members serving southeastern Michigan.
Friday, June 19, 2009
MAY HOME SALES MARK FIFTH STRAIGHT MONTH OF
INCREASED SALES IN 2009
INCREASED SALES IN 2009
Below is a time frame comparison for Oakland County: comparing data from May 2008 to May of 2009.
The number of homes sold in May of 2009 was 1,412 compared to 1241 in 2008 up 13.8%. Of the 1,412 sales 809 were foreclosures and 603 were non-foreclosure sales.
The number of homes on the market in April 2009 was 14,951 compared to 19,185 in 2008 down 22.1%.
The median sales price for a foreclosure home In May was $55,000 and a non-foreclosure was $145,850. The median sale price for all sales in May 2009 was $85,000 compared to $145,850 in 2008. That is down 41.7%.
For May 2009
Number of homes sales up 13.8%
Number of homes on the market is down 22.1%
Average home price is down 41.7%
The Banks foreclosure process is taking longer with less inventory coming on the market. Michigan government may enact a 90-day window giving delinquent owners more time to modify home loans. We think this action will cause less bank inventory for the short term, which will help stabilize home prices.
To search for a home go to www.johnburtrealty.com
Realcomp2 a multiple listing service provides this information with about 12,000 Realtor members serving southeastern Michigan.
Thursday, May 14, 2009
APRIL HOME SALES MARK FOURTH STRAIGHT MONTH OF
INCREASED SALES IN 2009
Below is a time frame comparison for Oakland County: comparing data from April 2008 to April of 2009.
The number of homes sold in April of 2009 was 1,335 compared to 1102 in 2008 up 21.1%. Of the 1,335 sales 837 were foreclosures and 498 were non-foreclosure sales.
The number of homes on the market in April 2009 was 4,452 compared to 5,553 in 2008 down 19.8%.
The median sales price for a foreclosure home In April was $53,000 and a non-foreclosure was $148,500. The median sale price for all sales in April 2009 was $84,500 compared to $149,900 in 2008. That is down 43.6%.
For April 2009
Number of homes sales up 21.1%
Number of homes on the market is down 19.8%
Average home price is down 43.6%
We are seeing a strong first time homebuyer market, the supply of listings is coming down and homes are being priced to sell! There are multiple offers on many of the hot properties for sale. Average sales price is down because lower priced homes are selling. If you are thinking of buying a home now is the time.
To search for a home go to www.johnburtrealty.com
Realcomp2 a multiple listing service provides this information with about 12,000 Realtor members serving southeastern Michigan.
INCREASED SALES IN 2009
Below is a time frame comparison for Oakland County: comparing data from April 2008 to April of 2009.
The number of homes sold in April of 2009 was 1,335 compared to 1102 in 2008 up 21.1%. Of the 1,335 sales 837 were foreclosures and 498 were non-foreclosure sales.
The number of homes on the market in April 2009 was 4,452 compared to 5,553 in 2008 down 19.8%.
The median sales price for a foreclosure home In April was $53,000 and a non-foreclosure was $148,500. The median sale price for all sales in April 2009 was $84,500 compared to $149,900 in 2008. That is down 43.6%.
For April 2009
Number of homes sales up 21.1%
Number of homes on the market is down 19.8%
Average home price is down 43.6%
We are seeing a strong first time homebuyer market, the supply of listings is coming down and homes are being priced to sell! There are multiple offers on many of the hot properties for sale. Average sales price is down because lower priced homes are selling. If you are thinking of buying a home now is the time.
To search for a home go to www.johnburtrealty.com
Realcomp2 a multiple listing service provides this information with about 12,000 Realtor members serving southeastern Michigan.
Tuesday, April 21, 2009
“Going Once, Going Twice, SOLD!” Real Estate Auctions
Did you know that you can buy real estate at Auction—very much like a used car? In today’s real estate environment, auctions have become a very viable form of asset liquidation—and a great investment opportunity for those who have the means to buy!
First, always consult with a Realtor- as you are welcome, and encouraged by every auction house to have your own representation when buying real estate at auction. This is important because most auctions don’t allow for contingencies, like a home inspection, a radon test, or even financing. A Realtor can help you pin point auction properties, review and research them thoroughly before auction so you are the most educated buyer you can be.
Second, please don’t mistake auctions for total liquidation-most real estate sellers still have the right to refuse a final bid, as well as any contingencies that came with it. On occasion auctions are absolute-but that is disclosed at the auction itself.
Third, be prepared with your certified funds at the auction site- they don’t accept personal checks-as well, most auction bids require a “buyer’s premium” of at least 5% that is added to the final bidding amount—so make sure your funds are adequate to cover what you are bidding, and make sure you aren’t spending more money then you are willing!
Finally, make sure you understand what you are investing in win bidding—this is why having your own Realtor with you is important, he/she can help smooth out the wrinkles and help you make sure that the purchase you are making is the right one for you!
First, always consult with a Realtor- as you are welcome, and encouraged by every auction house to have your own representation when buying real estate at auction. This is important because most auctions don’t allow for contingencies, like a home inspection, a radon test, or even financing. A Realtor can help you pin point auction properties, review and research them thoroughly before auction so you are the most educated buyer you can be.
Second, please don’t mistake auctions for total liquidation-most real estate sellers still have the right to refuse a final bid, as well as any contingencies that came with it. On occasion auctions are absolute-but that is disclosed at the auction itself.
Third, be prepared with your certified funds at the auction site- they don’t accept personal checks-as well, most auction bids require a “buyer’s premium” of at least 5% that is added to the final bidding amount—so make sure your funds are adequate to cover what you are bidding, and make sure you aren’t spending more money then you are willing!
Finally, make sure you understand what you are investing in win bidding—this is why having your own Realtor with you is important, he/she can help smooth out the wrinkles and help you make sure that the purchase you are making is the right one for you!
Wednesday, March 18, 2009
What To Offer On A Foreclosure?
We have seen home prices fall and have brought great opportunities to our local market place for homebuyers.
The national media is saying that you can steal a home in today’s market, and this is almost true. The media is telling buyers to offer 10% to 20% lower than list price. However we have seen in the last 2 years a drop in home prices in Oakland County of 35%. So our pricing is already discounted.
What I am seeing is a trend for homes being priced at bargain prices and selling for full to over list price. We are seeing sometimes 4 to 5 offers on a home all at once.
When you are caught up in a multiple offer bid situation listen to your agent about what to offer and what to include in your offer. They are here to help you buy the home you want and are on your side.
The national media is saying that you can steal a home in today’s market, and this is almost true. The media is telling buyers to offer 10% to 20% lower than list price. However we have seen in the last 2 years a drop in home prices in Oakland County of 35%. So our pricing is already discounted.
What I am seeing is a trend for homes being priced at bargain prices and selling for full to over list price. We are seeing sometimes 4 to 5 offers on a home all at once.
When you are caught up in a multiple offer bid situation listen to your agent about what to offer and what to include in your offer. They are here to help you buy the home you want and are on your side.
Tuesday, March 17, 2009
We have won a National Sale Award for GMAC Real Estate. Our office has won the top 5 Award for best increase in sale volume nation wide.
Our business is growing when the market is down. Here is why.
Our agent understanding the changing market place. They have increased their skill level. When they know and understand the local conditions and their knowledge makes it easier on our clients.
We work hard to provide our clients the best in customer service with the GMAC Real Estate Premier Service program. Our relationship with GMAC Real Estate gives us tools and service that are not available anywhere else.
As always let us know if you have any questions or comments.
Our business is growing when the market is down. Here is why.
Our agent understanding the changing market place. They have increased their skill level. When they know and understand the local conditions and their knowledge makes it easier on our clients.
We work hard to provide our clients the best in customer service with the GMAC Real Estate Premier Service program. Our relationship with GMAC Real Estate gives us tools and service that are not available anywhere else.
As always let us know if you have any questions or comments.
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