I'll say it until I'm blue in the face - Real estate IS local.

By
Real Estate Agent with Keller Williams Realty - Lakeside Market Center
There has been much written and talked about lately about the “right time to buy”.

In the Metro Detroit area we have witnessed a downturn to housing since 2002. Homes have taken longer to sell, the supply has outpaced the demand, and the prices that home sellers have been receiving for their homes has been less each year.

Other areas of the country have been experiencing this only recently, or within the last 2 years or so. When you read the national news please keep this in mind. National data does not tell the “local” story.

Are we at the end of the downturn? I honestly don’t know. For the sake of the economy in Michigan and homeowners across the region I sincerely hope we are near that point.

How will you know when it is the “right time to buy”? When it is right for you.


Let’s face it, we all have to live someplace. Whether that “someplace” is an apartment rental or Mom & Dads home or a college dorm or a home of your own will be up to you.

Housing is also an expense we all have. Renting or owning or paying room and board – we all have to pay to live somewhere. Choosing whether to own or rent is a personal decision and should be based upon only what is right for you.

The Metro Detroit housing market is saturated with homes right now, some of them are very
good “bargains”, others not so good. If you want to own your own home, and purchase while
the market is plentiful with homes and low prices and the time is right for you, then by all means
hire a competent real estate agent to represent your interests and help you with the process.

©Kris Wales RE/MAX Advantage 1, Inc. Chesterfield Township MI

http://macombhomes.com


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Location:
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Tags:
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Rainer
339,751
Kris Wales
Real Estate Blog & Homes for Sale search site, Macomb County MI
Keller Williams Realty - Lakeside Market Center
Gary:  Newspaper headlines only report generalizations (at least from what I'm seeing.)  No one can tell someone when the right time to buy is for them. It is an individual decision.  Thanks Gary.

Teri:  I've been reading your articles and agree with you - in your area of the Twin Cities it sounds like a wonderful time for someone to purchase a home IF it is right for them!

Jo-Anne:  Thank you.  (Yes, I'm feeling a bit better each day!)   I'm thrilled to hear that in Ontario that property values are still rising.  Good luck to you and your consumers Jo-Anne.


January 31, 2008 06:32 AM
Rainer
339,751
Kris Wales
Real Estate Blog & Homes for Sale search site, Macomb County MI
Keller Williams Realty - Lakeside Market Center
Thesa:  I love the localism feature here :-)   You're correct - it is all local when it comes to real estate.  Thanks Thesa.

Elizabeth:  Thank you, yes I am :-)   I know you are experiencing much the same things:  Local affects, local economy, local issues.

Jeff:  It's been a busy January so far - here in Metro Detroit there are so many homes on the market at prices that young first timers can now afford. 
January 31, 2008 06:35 AM
Anonymous #30
Anonymous
Anonymous
Hi Kris,
What a profound and true statement regarding when the time is right to buy "when it is right for you".  AMEN!  We have seen more activity in past two weeks, just keeping my fingers crossed it continues on an upward spiral.  I wish the same for you.
January 31, 2008 07:15 AM
Rainer
85,358
Karen Moorhead
Ann Arbor Area Real Estate
Keller Williams Realty

Kris,  Great job explaining what we all know to be true.  Is this your forclousre we had going at the same time?  I bet it is.  We haven't seen the docs back as yet.  Bummer, but they will come and we will close soon.  I'm thinking positively.  The young buyer is just so ready to get the final word.  And he is cash, so once we get the final papers back, we are good to go after title work. Wish me luck!

Good to have you back.

February 01, 2008 05:10 AM
Rainer
339,751
Kris Wales
Real Estate Blog & Homes for Sale search site, Macomb County MI
Keller Williams Realty - Lakeside Market Center

Cynthia:  I'm so glad to hear that you are seeing more activity in Onslow County.  I hope it continues for you.  Thank you so much for stopping in and commenting.

Karen:  Yes, this is the foreclosure that I was telling you about went so quickly with getting bank docs and such.  Hard to believe you are still waiting for yours.  I have another one that we received signed docs within 2 days.  Fingers crossed for you and your buyer!

February 01, 2008 09:34 AM
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Kris Wales

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