Category: selling a probate home in michigan

Mortgage Rates Hit Record Lows for Three Consecutive Weeks

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this … Continued

What Are Experts Saying about Home Prices?

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What Are Experts Saying about Home Prices? Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which … Continued

Buyers: Are You Ready for a Bidding War?

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Buyers: Are You Ready for a Bidding War? With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the Metro Detroit Michigan housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase … Continued

Best Time to Sell? When Competition Is at an All-Time Low

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Best Time to Sell? When Competition Is at an All-Time Low In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the … Continued

Latest Unemployment Report: Great News…for the Most Part

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Latest Unemployment Report: Great News…for the Most Part The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from … Continued

What Are Experts Saying About the Rest of 2020?

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What Are Experts Saying About the Rest of 2020? One of the biggest questions on everyone’s minds these days is: What’s going to happen to the Metro Detroit Michigan housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for … Continued

Is the Economic Recovery Already Underway?

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Is the Economic Recovery Already Underway? The Wall Street Journal just released their latest monthly Survey of Economists. In an article on the findings, they reported: “The U.S. economy will be in recovery by the third quarter of this year, economists said in a survey that also concluded the labor market will fare better than previously expected following the effects … Continued

Three Reasons Homebuyers Are Ready to Purchase This Year

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Three Reasons Homebuyers Are Ready to Purchase This Year A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move … Continued

Real Estate Will Lead the Economic Recovery

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Real Estate Will Lead the Economic Recovery With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work … Continued

The Shocking News in the Unemployment Report

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The Shocking News in the Unemployment Report Last Friday, the U.S. Bureau of Labor Statistics released their May Employment Situation Summary. Leading up to the release, most experts predicted the unemployment rate would jump up to approximately 20% from the 14.7% rate announced last month. The experts were shocked. The Wall Street Journal put it this way: “The May U.S. jobless rate … Continued
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