Profile picture for shiller

are homes going back up in price, macomb co. Mi looks like they jumped since sept.

Is now a good time to buy or should i wait till next year, or are they supposed to keep going up?  Have the foreclosures dwindled down?
  • November 14 2010 - Saint Clair Shores
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Answers (5)

I have not viewed any information that would indicate there is an increase in home prices.

However, from a buyer's perspective, Home Value is UP!

All price ranges vary and are affected by the Supply and Demand in the various price ranges and locations.  Every area and bracket are different.

It is very important that you align yourself with a Realtor who can provide you the best resources and help you manuever your way to home ownership.

At the current mortgage rates, it would be a "Great time to Buy"

  • November 15 2010
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Shiller,

You have to take into account mortgage rates, as well as purchase price. Both factor into your total cost for a home. Rates are expected to gradually rise over the next year. There will be ups and downs along the way. For a more thorough discussion on the mortgage market, give me a call.

Mark

  • November 14 2010
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Profile picture for Pam Bava
I work in the area all the time and know the market there.  If you are not working with another Realtor and have interest in purchasing a home, feel free to contact me.
  • November 14 2010
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Profile picture for the_country_hick
Talk to a realtor who can show you months of inventory. And look for the local unemployment level. Then look at NOD's. You may have a tremendous shadow inventory ready to explode, or maybe not. How do sales look now compared to 1,2,3,4, and 5 years ago?

Just because asking price goes up does not mean selling price is increasing. Many banks had a foreclosure moratorium recently. This could result in a temporary change in pricing due to more limited properties for sale. It is something to check out before making a decision.
  • November 14 2010
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Profile picture for Pam Bava
Hi Shiller, I have noticed a slight rise in home prices in certain areas.  Macomb seems to be holding steady, maybe slight
increases.  Are you looking to purchase in that area? 



  • November 14 2010
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