Have We Reached The Bottom Yet???

That seems to be the question on everyone's mind lately. Will homes continue to drop in value or have we started to see prices level off?

While there are no guarantees, there are a few notable trends developing, in the 10 county region of Metro Detroit, Michigan.

According to Realcomp II, Ltd., the median sale price of homes and condos jumped 61% in April compared with the same period last year.

Sales were mixed. In the three core counties: Oakland County, MI was up 16%, Macomb County, MI up 4% and Wayne County, MI fell by 17%.

At the same time, the percentage of homeowners that are “underwater,” remains high. Michigan ranks No. 4 in the country, according to CoreLogic Inc.

The good news lies in the fact that property values appear to have stopped dropping and unit sales are beginning to show signs of awakening. We may be at the very beginning of seeing some competition for the homes on the market.

Despite these early signals, it is too early to tell with certainty we are at the bottom. Our home values will not bounce back up to their 2005 levels in a few months or six months or even five years.

It will take years to recover the home values we had in 2005 but extremely good values exist TODAY for those who are ready to take advantage of them.

If you are waiting for prices to go lower before jumping in to buy, you may miss the boat.

As David Knox, Real Estate Consultant, says, "The only sure way to know where the bottom was is to look back and realize you missed it."

If you want to take advantage of today's low prices and low interest rates we are happy to help!

Call us today at 810-844-2316 or e-mail timsova@remax.net

Check out our website for other real estate related items: www.TimSova.com

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Ready to Move? Why The Tim Sova Team?

You have come to the right place. The Tim Sova Team offers a successful track record. We attribute our success to hard work, an intimate knowledge of the Livingston County Michigan housing market and a love of helping families just like you.

Over the years, we’ve developed a unique approach to real estate that keeps YOU in the loop, keeps your home in the spotlight, and makes the experience easy.

We will guide you through the buying or selling process, taking time to make sure you understand every step of the transaction. We are absolutely committed to fulfilling your needs with the highest level of professionalism, expertise and service.

We realize that people do business with people they trust. We pride ourselves on being knowledgeable and staying current with changes in the industry that will affect the success of your transaction.

We think it is important that you choose the right Realtor – one that gets results! Our team gets results!

In 2009 The Tim Sova Team successfully closed 57 transactions working with both Buyers and Sellers. That is over 1 transaction every week! The U.S. average is 10 transactions per salesperson per year.

In 2010, we are off to a fast start! 

To date we have 8 Michigan property transactions closed and 12 pending deals!

Many of these transactions involved distressed homeowners. We assisted struggling homeowners who needed real solutions. We understand what they are going through, and are here to serve and help save your interests.  We are Certified Distressed Property Experts and we are your Short Sale & Foreclosures Resource.

Your home will sell with our expert online marketing. We syndicate our listings to multiple, global websites. We would love to share with you how our online marketing program has the ability to reach over 98% of 1 Billion Internet users daily!

Please use our website to search for listings and learn about the area. Check out our other Blogs for information on our services for Seller’s, our services for Buyer’s and our Marketing Plan. You can also request a current estimate of your home's value. For a FREE Mortgage Pre-Approval Click Here

We’re here to help you get ready to MOVE! Visit us at www.TimSova.com

Oh by the way, If you know of someone who would appreciate the level of service we provide, please call us with their name and number, and we will be happy to follow up and take great care of them. Direct: 810-844-2316