MARK Z's Blog: All Categories

It's no secret to self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to do the opposite of what the common american is doing.  When most of the public is buying, there is a small group of individuals that are selling.  When the masses are selling in desperation and feeling like the sky is falling, there is an elite group that is buying and taking advantage of the opportunity.  This is the same 5% of society that has 95% of all the money in the world.  As a matter of fact most millionaires are made during a recession.

Our current Northville real estate market in Michigan provides opportunities that are being overlooked by many due to the emotional and financial pain associated with the…

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It's nothing new among self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current Commerce Township real estate market in Michigan provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when Commerce Township home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back…

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It's no secret among independently wealthy individuals who have accumulated wealth through their own means, or self-made millionaires to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current Royal Oak real estate market in Michigan provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back the clock five years and look at…

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It's nothing new among self made millionaires, and independently wealthy individuals who have accumulated wealth through their own means, to go against the common trend in society.  As a matter of fact most millionaires are made during a recession.

Our current Michigan real estate market provides such opportunities that are being overlooked by many due to the emotional and financial pain associated with the decrease in value of their own homes.  For the past 20 years when home values were consistently appreciating every year, we all felt good about the market and homeowners wouldn't think twice about selling their home for a gain and buy a larger more expensive home.

But consider this example.  Lets turn back the clock five years and look at an…

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There is no way to sugar coat what is going on with the real estate market and home prices in general in the Detroit Metro area.  This update is specific to the Plymouth Michigan Real Estate market.  The number of homes sold in the city of Plymouth and Plymouth Township, so far in 2008 (37 homes sold) is relatively the same compared to 2007 (40 homes sold) through the end of February.  However the average sales price sold in 2008 ($224,779) has fallen 24% compared to the average sales price in 2007 (293,842).  In 2007 the highest price home sold through February was $610,000 and in 2008 the highest price home sold in the city of Plymouth and Plymouth Township was $478,000.  The average price per square foot of all the homes sold in 2008 year to date is…

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There is no way to sugar coat what is going on with the real estate market and home prices in general in the Detroit Metro area.  This update is specific to the Commerce Township Real Estate market.  The number of homes sold in Commerce Township, so far in 2008 (29 homes sold) have fallen 31% compared to 2007 (42 homes sold) this same time.  In 2007 the highest price home sold through February was $600,000 and in 2008 the highest price home sold in Commerce Township was $421,600.

Whats worse is the condo or townhouse market in Commerce Township.  Homes prices have been hit hard, but not as hard as the condominium real estate market.  The average condo sold in 2007 for $115 per square foot compared to $90 per square foot in 2008.  Thats a decrease of 22%. …

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I know this will be hard to believe, but more homes sold in 2007 than in 2006 in Northville.  The Northville Real Estate market held its own in one of the toughest economies in the nation.  However the average sales price dropped by 9% in 2007. 

Northville Market Stats 2007 2006 # of Homes Sold 291      284      Avg. Sales Price $461,199 $505,376 Avg. Price Per Sq Ft ($/SF) $151.10/SF $164.88/SF Avg Days On Market 119 110 … Read Full Post

It's amazing to me how many times I am on a listing appointment in the Canton Real Estate Market and I am competing against other agents who never inform the sellers of what the current market statistics are.  How can a seller make an educated decision without knowing the facts about what exactly is going on in the real estate market.  Well those that are interested here are the latest statistics for the Canton Michigan Real Estate Market.

There are currently 888 Homes for sale in Canton, Michigan, of which 70 homes sold in the last 30 days.  That means 8% of the inventory is being sold each month.  951 homes have sold this entire year in Canton.  It took an average of 160 days to sell each home and if no other homes came on the market we now have 12…

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