Macomb County Real Estate Blog - Mike Mitchell

This is a reblog from a post Cindy Jones wrote. I thought this was really great news and wanted to help spread the word. Thanks for the info and for the well written post Cindy!

January, 2009 Real Estate Market Report for Macomb Township, MI

 

The first month of 2009 started out with 29 closed home sales in Macomb Township

• The highest sale price was $300,000
• The lowest sale price was $110,500
• The average sale price of those 29 closings was $188,637
• The average total days on the market was 243
• Of those 29 closings 10 of them were bank owned

 

If you're thinking of selling your house and would like to know the value of your Macomb Township home call or email me to set an appointment for a free Comparative Market Analysis.

    

         MACOMB TWP. FEATURED LISTING                                                                      

 

 

 

 

 

 

 

 

If you'd like to start looking for homes and take advantage of this buyers market in Macomb County sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

 For more info on the Macomb County Real Estate market, contact Mike Mitchell,REALTOR ®

Mike Mitchell - REALTOR ®
GMAC The Kee Group
Direct: (586)291-2652

http://www.mmhomesearch.com/

 

Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners. Selling prices did not include any sellers concessions.

 

 If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation

       

  ST. CLAIR SHORES MARKET REPORT FOR JANUARY - HOMES 

There were 36 single family homes that closed in January, down from Decembers 43. The one stat that really stands out from January sales is that 29 of the 36 closings or 80% were bank owned homes. That is an extremely high number, and that also means that only 7 private owned homes closed last month. December seen 55% of the sales bank owned, November had 36% and October was at 45%. This is not the stat that many homeowners trying to sell their home want to hear, let's hope there's an improvement in February.

                                                                                                                                                                                                                   

• There were 36 home sales that closed in January
• The average list price was $97,445
• The highest list price was $539,900 & the lowest was $14,900
• The average sale price of those 43 transactions was $90,879
• The average current days on the market was 73
• The average total days on the market was 226
• Number of canal front homes closed 0
• Number of lake front homes closed 2

         

        Selling Price       # of homes

• under $50k    - 12
• $50k - $100k  - 17
• $100k - $150k - 4
• $200k - $300k - 1
• $400k - $500k - 1
• $500k - $600k - 1

 

 

          ST. CLAIR SHORES MARKET REPORT FOR JANUARY - CONDOMINIUMS 

• There were only 4 condos that closed in January
• The average list price was $32,175
• The highest list price was $49,900 & the lowest was $13,000
• The average sale price was $30,000
• The average total days on the market was 279

The median numbers were down for condo sales compared to previous months as there were no high end condo listings sold.

 

 

One things for sure, this current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of February 3rd, there are currently 537 single family homes for sale ranging in price from as low as $17,000 investor specials to waterfront homes just under 1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are low and there are some great FHA loans available for those that need a lower down payment.

For more info on the St. Clair Shores Real Estate market, contact  Mike Mitchell,REALTOR ®

 

 

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

               

 

 

  Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

 

 

Information deemed to be reliable but not guaranteed. Information taken from MiRealSource multiple listing service. Above sales were sold by agents and/or brokers. These statistics do not include for sale by owners. Selling prices did not include any sellers concessions.

I wrote a post last year about hud homes in St. Clair Shores. I thought I would do another post with some more tips and advice.

There are currently 23 hud homes on the market is St. Clair Shores as of Jan. 16th, 2009 (tip: new hud listings always come out on Fridays)

• $100. down FHA loans are still available on fha insured homes over $25,000 for owner occupants
• Hud is still offering an additional $2,500 in paid closing costs on fha loans
• Hud homes must be bid on via electronic bidding by a licensed hud approved broker
• required earnest money amounts - sales price up to $49,999 = $500 and sales price $50,000 and up = $1,000
• Hud does not counter offers, they either accept or reject. If rejected you can resubmit an offer.

FAQ: How low of a price will hud accept? (a) I have no idea. What I have found out in my experience bidding/selling hud homes is that there is no rhyme or reason on how they determine what price they will accept. I have seen them reject offers just under asking price and I've seen them accept offers well below their asking price.

Once you have an accepted offer be patient, while your agent will receive an answer to your offer electronicaly the next day (typically), it may take up to 2 weeks to receive a signed purchase agreement back from hud. Once you receive the signed contract back, it typically takes 60 days to close.

Contact me for a current list of Hud homes in St. Clair Shores and surrounding areas or for more information on St. Clair Shores Real Estate.

 

  Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

                

             

 

                                           

                                                     

 

My monthly market reports give data on the number of closed transactions, average sale price, etc. This report is a little different. It amazes me how much prices have dropped in the past few years, I remember in 2005 it was very difficult to find a home in St. Clair Shores for under $100,000 even fixer uppers. The pickings in that price range were slim to none at that time. So I thought I'd give you an idea of what's for sale in different price ranges today.

I've broken the stats down to the 3 major school districts.

 

South Lake School District:

        price range                                             # homes for sale

• 0 - $49,999                                       15
• $50,000 - $99,999                            64    
• $100,000 - $149,999                        90
• $150,000 - $199,999                        23
• $200,000 - $249,999                          5
• $250,000 +                                         3

 

Lakeview School District:

        price range                                            # homes for sale

• 0 - $49,999                                         16
• $50,000 - $99,999                              53
• $100,000 - $149,999                          62
• $150,000 - $199,999                          28
• $200,000 - $249,999                            7
• $250,000 - $299,999                            8
• $300,000 +                                           9

 

Lakeshore School District

        price range                                             # homes for sale

• 0 - $49,999                                            12
• $50,000 - $99,999                                 59
• $100,000 - $149,999                             70
• $150,000 - $199,999                             24
• $200,000 - $249,999                               3
• $250,000 - $299,999                               1
• $300,000 +                                              7

There is also one home listed in the Lanse Cruese district, (a very small section of the Shores is located in this district) That home is listed in the $150,000 - $200,000 range.

Overall, as of January 12, 2009 there are currently 560 single family homes on the market in St. Clair Shores. Of those 560 homes, 125 or aprox. 22% of them are bank owned. Also, 30 of them are canal front and 10 are lakefront.

 

 

If you'd like to start looking for homes and take advantage of this buyers market in St. Clair Shores, sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

 

For more info on the St. Clair Shores Real Estate market, contact  Mike Mitchell,REALTOR ®

               

 

*statistics taken from Mi-Realsource multiple listing service. Information is deemed to be reliable but not guaranteed.

 

  Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

 

 

 If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation

       

          ST. CLAIR SHORES MARKET REPORT FOR DECEMBER - HOMES                                                                                                                                                                                                                 

• There were 43 home sales that closed in December
• The average list price was $106,425
• The highest list price was $549,900 & the lowest was $14,900
• The average sale price of those 43 transactions was $95,572
• The average total days on the market was 167

Of those 43 closed transactions, 24 were bank owned. 2 of them were Lakefront & 1 was canal front.  55% of the sales were bank owned, which is a high number for the month.

The number of closed transactions was up from 30 in November, which is a little surprising during the holidays, but as you can see homes are still selling in St. Clair Shores!

 

          ST. CLAIR SHORES MARKET REPORT FOR DECEMBER - CONDOMINIUMS 

• There were 6 condos that closed in December
• The average list price was $63,658
• The highest list price was $105,000 & the lowest was $28,350
• The average sale price was $53,166
• The average total days on the market was 206

The median numbers were down for condo sales compared to last months as there were no high end condo listings sold.

 

 

This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of January 5th, there are currently 564 single family homes for sale ranging in price from as low as $17,500 investor specials to waterfront homes just under 1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are still low and there are some great FHA loans available for those that need a lower down payment.

For more info on the St. Clair Shores Real Estate market, contact  Mike Mitchell,REALTOR ®

 

 

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

HAVE A HAPPY, HEALTHY AND PROSPEROUS 2009

               

 

 

  Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

 

 

 

I just wanted to take the time to wish a Happy and Healthy New Year to all of my clients and to all of my friends at Active Rain.

 I know it has been a challenging year for many people, let's hope the economy and real estate market start to improve in the coming year!

 

Here's to a great 2009 HAPPY NEW YEAR!

 

 

 

 Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

The annual Saint Clair Shores Christmas Tree lighting ceremony hosted by the St. Clair Shores Activities Committee is Friday, December 5th at 7:00 p.m.

 

The event takes place in front of the library located at 11 mile and Jefferson. Along with the lighting of the Christmas Tree, there will be caroling and refreshments will be available inside city hall.

 

Also, Santa Clause will be arriving there on a fire truck!

Dress warm and enjoy the start of the holidays in our wonderful city of Saint Clair Shores!

 

 

If you would like information on buying or selling Saint Clair Shores real estate contact:

 Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/

 

If you would like to know what your St. Clair Shores home is worth in today's market, give me a call to schedule an appointment for a free market analysis (cma). No pressure, no obligation

       

          ST. CLAIR SHORES MARKET REPORT FOR NOVEMBER - HOMES                                                                                                                                                                                                                 

• There were 30 home sales that closed in November
• The average list price was $98,977
• The highest list price was $155,000 & the lowest was $18,000
• The average sale price of those 30 transactions was $94,278
• The average total days on the market was 187

           Of those 30 closed transactions, 11 were bank owned.

The number of closed transactions was down from previous months, which is typical as we near the holdays, but as you can see homes are still selling in St. Clair Shores!

 

          ST. CLAIR SHORES MARKET REPORT FOR NOVEMBER - CONDOMINIUMS 

• There were 6 condos that closed in November 
• The average list price was $108,900
• The highest list price was $399,000 & the lowest was $29,800
• The average sale price was $93,150
• The average total days on the market was 112

 

 

This current buyers market makes it a great time to purchase a home or condo in St. Clair Shores. As of December 4th, there are currently 606 single family homes for sale ranging in price from as low as $17,500 investor specials to waterfront homes just under 1 million. There are many homes to choose from, no matter what your price range, now is the time to take advantage of this market, prices will not remain this low forever. Interest rates are still low and there are some great FHA loans available for those that need a lower down payment.

For more info on the St. Clair Shores Real Estate market, contact  Mike Mitchell,REALTOR ®

 

 

If you'd like to start looking for homes and take advantage of this buyers market in S.E. Michigan sign up for a free Listingbook account and search the mls on your own personal website! Absolutely FREE!

               

 

 

  Mike Mitchell - REALTOR ®                                                                 
 GMAC The Kee Group
 Direct: (586)291-2652

 http://www.mmhomesearch.com/