Tag: michigan real estate

10 Steps to Buying a Home

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10 Steps to Buying a Home Some Highlights: If you’re thinking of buying a home in Metro Detroit Michigan and you’re not sure where to start, you’re not alone. Here’s a guide with 10 simple steps to follow in the homebuying process. Be sure to work with a trusted real estate professional to find out … Continued

How Much “Housing Wealth” Can You Build in a Decade?

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How Much “Housing Wealth” Can You Build in a Decade? Earlier this month, the National Association of Realtors (NAR) released a special study titled Single-Family Home Price Gains by Years of Tenure. The study estimates median home price appreciation over the last 30 years based on the length of homeownership. Below are three graphs depicting the most important … Continued

Entry-Level Homeowners Are in the Driver’s Seat

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Entry-Level Homeowners Are in the Driver’s Seat One thing helping Metro Detroit Michigan homeowners right now is price appreciation, especially in the entry-level market. In the latest Home Price Insights report, CoreLogic reveals how home prices increased by 4% year-over-year and projects prices will rise 5.2% by December 2020. Why is this good news for the homeowners?  When prices … Continued

The #1 Misconception in the Homebuying Process

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The #1 Misconception in the Homebuying Process After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, Director of Economic Research at Zillow, explained in a recent article:  “A year ago, a combination of a government shutdown, stock market slump and mortgage rate spike caused a long-anticipated inventory rise. That … Continued

The Overlooked Financial Advantages of Homeownership

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The Overlooked Financial Advantages of Homeownership There are many clear financial benefits to owning a home in Metro Detroit Michigan: increasing equity, building net worth, growing appreciation, and more. If you’re a renter, it’s never too early to make a plan for how homeownership can propel you toward a stronger future. Here’s a dive into … Continued

Homeownership Rate on the Rise to a 6-Year High

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Homeownership Rate on the Rise to a 6-Year High Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase … Continued

Strength of the Economy Is Surprising the Experts

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Strength of the Economy Is Surprising the Experts We’re currently in the longest economic recovery in U.S. history. That has caused some to ask experts to project when the next economic slowdown (recession) could occur. Two years ago, 67% of the economists surveyed by the Wall Street Journal (WSJ) for the Economic Forecasting Survey predicted we would have a … Continued

Where Have All the Houses Disappeared To?

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Where Have All the Houses Disappeared To? If you’re following what’s happening in the current housing market, you’ve seen how the lack of newly constructed homes is a major reason there’s a shortage of housing inventory available to today’s buyers. Another reason is that the inventory of existing homes for sale is shrinking. According to the most … Continued

Should I Sell My House This Year?

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Should I Sell My House This Year? If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Surveyfrom the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in … Continued
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