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Bloomfield Village South, Bloomfield Township
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The single story at 370 South Cranbrook Cross has been sold.
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4 bedroom brick cape cod.
• 1,600 sq. ft., 2 bath, 4 bdrm 1 1/2 story - 
MLS® $120,000 USD - Bargain Priced!
Beach Lawn Subdivision, Warren - Attention GM Tech Center and TACOM employees, close to work! Great north Warren 4 bedroom brick home, Warren Con blue ribbon schools. Hardwood floors on both levels. Oversized 1.5 car garage with a 2 car garage door. New furnace. This privately owned home is priced with the bank owned homes, and just needs some cosmetics.
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Bloomfield Village South, Bloomfield Township - Announcing a price reduction on 370 South Cranbrook Cross, a 2,200 sq. ft., 2 bath, 3 bdrm single story "Ranch". Now MLS® $185,000 USD - Under Market Value.
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Lorraine, Warren - The single story at 11031 Twelve Mile Road has been sold.
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Bloomfield Village South, Bloomfield Township - Announcing a price reduction on 370 South Cranbrook Cross, a 2,200 sq. ft., 2 bath, 3 bdrm single story "Ranch". Now MLS® $195,000 USD - Under Market Value.
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Lorraine, Warren - Announcing a price reduction on 11031 Twelve Mile Road, a 1,227 sq. ft., 1 bath, 3 bdrm single story "Ranch". Now MLS® $50,000 USD - Bank Owned Bargain!.
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Orchard View, Trenton - The 1 1/2 story at 264 George has been sold.
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4 bedroom brick cape cod.
• 1,500 sq. ft., 2 bath, 4 bdrm 1 1/2 story - MLS® $120,000 USD - Bargain Priced!
Beach Lawn Subdivision, Warren - Attention GM Tech Center and TACOM employees, close to work! Great north Warren 4 bedroom brick home, Warren Con blue ribbon schools. Hardwood floors on both levels. Oversized 1.5 car garage with a 2 car garage door. New furnace. This privately owned home is priced with the bank owned homes, and just needs some cosmetics.
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Bloomfield Village South, Bloomfield Township - Announcing a price reduction on 370 South Cranbrook Cross, a 2,200 sq. ft., 2 bath, 3 bdrm single story "Ranch". Now MLS® $210,000 USD - Under Market Value.
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Freddie Mac is offering up to 3.5% towards buyers closing costs on all their bank owned properties. Offers must be presented between 10/23/2008 - 01/31/2009, escrow must be closed on or before 03/14/2009. The following properties are just a sample of homes that qualify for the bonus, there are many more available.
Address
| Price | Rooms | Beds | Bath|
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| | | | | |
| | 8632 STUDEBAKER- WARREN, MI | $5,250 | 5 | 1 | 1.00|
| | 13428 GEORGIANA- WARREN, MI | $8,250 | 7 | 3 | 1.00|
20854 DEXTER BLV- WARREN, MI
| $17,500 | 8 | 4 | 2.00|
| | 3562 DALLAS AVE
WARREN, MI | $17,900 | 6 | 3 | 1.00|
| | 22453 PANAMA
WARREN, MI | $34,500 | 7 | 3 | 2.00|
| | 27364 MARILYN DR
WARREN, MI | $40,000 | 6 | 3 | 1.00|
| | 4260 FRAZHO ROAD
WARREN, MI | $43,500 | 6 | 3 | 1.50|
| | 26590 CRYSTAL
WARREN, MI | $46,000 | 5 | 3 | 1.00|
| | 11903 ENGLEMAN
WARREN, MI | $50,000 | 6 | 3 | 1.00|
| | 31590 JUNIPER LANE
WARREN, MI | $57,500 | 7 | 2 | 1.50|
| | 26620 NEWPORT
WARREN, MI | $62,500 | 7 | 3 | 2.50|
| | 13157 JULIUS AVENUE
WARREN, MI | $64,900 | 6 | 3 | 1.00|
| | 5569 ELMER
WARREN, MI | $64,900 | 5 | 3 | 2.00|
| | 29568 RED OAK DRIVE
WARREN, MI | $69,900 | 6 | 2 | 2.00|
| | 32806 WARNER
WARREN, MI | $70,000 | 5 | 3 | 1.00|
| | 32615 DOWLAND DRIVE
WARREN, MI | $70,000 | 5 | 3 | 1.00|
| | 14825 SHIRLEY
WARREN, MI | $73,500 | 6 | 3 | 1.50|
| | 27310 DOWLAND
WARREN, MI | $87,500 | 7 | 3 | 2.00|
| | 4785 KINGSWOOD
WARREN, MI | $89,900 | 6 | 3 | 1.50|
| | 29275 WALKER DRIVE
WARREN, MI | $114,900 | 7 | 3 | 1.50|
| Address | Price | Rooms | Beds | Bath|
| | 11390 CANAL ROAD
STERLING HEIGHTS, MI | $35,000 | 5 | 2 | 1.00|
| | 43455 CAPE DRIVE
STERLING HEIGHTS, MI | $39,900 | 4 | 1 | 1.00|
| | 14063 IVANHOE
STERLING HEIGHTS, MI | $59,900 | 5 | 2 | 2.50|
| | 36739 PARK PLACE DR
STERLING HEIGHTS, MI | $66,500 | 4 | 2 | 2.50|
| | 4632 BERKSHIRE DR
STERLING HEIGHTS, MI | $77,500 | 5 | 2 | 1.00 |
| | 4438 BERKSHIRE DR
STERLING HEIGHTS, MI | $82,500 | 6 | 2 | 2.00|
| | 14426 MORAVIAN MANOR CIR
STERLING HEIGHTS, MI | $95,000 | 5 | 2 | 2.00|
| | 12431 EL CAMINO DRIVE
STERLING HEIGHTS, MI | $119,900 | 6 | 3 | 1.50|
| | 38386 LINCOLNDALE DRIVE
STERLING HEIGHTS, MI | $130,000 | 6 | 3 | 2.00|
| | 35869 THORNTON
STERLING HEIGHTS, MI | $147,500 | 10 | 5 | 3.50|
| Address | Price | Rooms | Beds | Bath|
| | 25165 BLAIR
ROSEVILLE, MI | $15,500 | 5 | 2 | 1.00|
| | 27739 BOHNHOFF ST
ROSEVILLE, MI | $23,500 | 6 | 4 | 1.00|
| | 26620 GRANDMONT
ROSEVILLE, MI | $25,500 | 5 | 2 | 1.00|
| | 17712 TENNYSON
ROSEVILLE, MI | $29,900 | 5 | 3 | 1.00|
| | 29240 MCDONALD AVE
ROSEVILLE, MI | $33,500 | 7 | 2 | 1.00|
| | 18290 BUCKHANNON
ROSEVILLE, MI | $35,000 | 6 | 3 | 1.00|
| | 17280 MARTIN RD
ROSEVILLE, MI | $39,900 | 5 | 3 | 1.00|
| | 19381 WALLACE ST
ROSEVILLE, MI | $39,900 | 6 | 3 | 1.00|
| | 25567 FERN STREET
ROSEVILLE, MI | $47,500 | 5 | 3 | 1.00|
| | 25083 WALDORF DR
ROSEVILLE, MI | $54,500 | 6 | 3 | 1.00|
| | 27606 WOODMONT
ROSEVILLE, MI | $64,900 | 6 | 3 | 1.00|
| Address | Price | Rooms | Beds | Bath|
| | 19825 E 8 MILE
SAINT CLAIR SHORES, MI | $29,900 | 6 | 2 | 1.00|
| | 27921 ROCKWOOD
SAINT CLAIR SHORES, MI | $58,500 | 5 | 3 | 1.00|
| | 22640 OCONNOR ST
SAINT CLAIR SHORES, MI | $65,000 | 7 | 3 | 1.00|
| | 21524 PLEASANT
SAINT CLAIR SHORES, MI | $69,900 | 8 | 4 | 2.00|
| | 22956 GAUKLER STREET
SAINT CLAIR SHORES, MI | $93,500 | 6 | 3 | 1.00|
| | 22463 SUNNYDALE ST
SAINT CLAIR SHORES, MI | $109,900 | 9 | 3 | 2.00|
| | 22555 KAUL
SAINT CLAIR SHORES, MI | $294,900 | 10 | 4 | 3.00
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Ford Park, Hazel Park - Announcing a price reduction on 33 E George, a 1,213 sq. ft., 1 bath, 3 bdrm 1 1/2 story. Now MLS® $35,000 USD - Move right in!.
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Arden Park East Boston, Detroit - The 3 story at 210 East Boston Blvd. has been sold.
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Blackstone Park, Detroit - The single story at 18500 Marlowe has been sold.
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Bloomfield Village South, Bloomfield Township - Announcing a price reduction on 370 South Cranbrook Cross, a 2,200 sq. ft., 2 bath, 3 bdrm single story "Ranch". Now MLS® $225,000 USD - Under Market Value.
Property information
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October sales continued on the same track as prior months with sales units continuing to rise (and reduced home prices). The sales pace has slowed a bit as have showings in the upper end areas, but the rest of the markets continue to pick up the slack keeping things relatively consistent with the prior months.
So what does all this mean? The trends were heading in the right direction, sales units up and listing inventory is down. With additional impending layoffs, the bottom is likely to be reset to a new level for 2009 and extend our overall recovery time. The silver lining in this is that the new bottom may not be as big a change as it might seem. Here are a few of the key areas of influence in the upcoming year.
Buyers: Additional auto layoffs should not have a major effect on the supply of Buyers so activity should remain at 2008 levels. Few if anyone related to auto has been in the market as a Buyer for the past two years so most of the auto effect as it relates to Buyers has already occurred.
Listing Inventories: Inventories will most likely continue to fall for the first half of 2009 and then remain the same for the balance of the year. Banks are working towards policies to work with homeowners and avoid foreclosures which will reduce or at least spread out the foreclosure rate for late 2009 and 2010. However, additional home inventories from auto related changes will offset some of that, keeping inventories about the same.
Home Values: Home values will continue to decline for 2009. The exact amount is difficult to peg, but it should continue in the 1% per month or more rate. Vacant homes still comprise about 40-60% of the listing inventory. Significant appreciation will not return until those rates fall to 20% or lower.
Economic Stimulus Programs: The current and future stimulus programs will focus on housing; either in making home buying easier or helping lenders repackage mortgages to avoid additional foreclosures. Either way the net effect for 2009 will be positive in reducing or spreading out the foreclosure rate and drawing more buyers into the market. Its full effect will probably not be felt until the second half of 2009.
Auto Bailout: It appears some plan will be implemented, giving Detroit a breather and helping to spread the inevitable continued downsizing over a longer period of time. The positive effect we are looking for is to spread out the number of auto related homes that will go on the market over 3-5 years vs. the 1-2 years it was headed for, thereby helping to maintain values.
Housing Affordability: Our strongest asset, with the economic stimulus making it even stronger. For 2009, low rates and falling prices will continue to create bargains many will not be able to refuse. We may see the strongest affordability index in the past 30 years in 2009!
For Sellers aggressive pricing ahead of the falling market is the key to a successful strategy. For Buyers, a home purchase is a very personal and unique event, trying to time it to the perfect balance of interest rates and pricing is nearly impossible. Start your home search process now and be ready to act quickly, because of aggressive pricing, the best homes are still selling in 30 days.
| Number of Homes Pending |
| Available Homes for Sale |
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Area | Oct 07 | Oct 08 | % Change | Oct 07 | Oct 08 | % Change |
Oakland County | 988 | 1,484 | 50.2% |
| 20,356 | 17,064 | -16.2% |
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Macomb County | 729 | 1,055 | 44.7% |
| 9,702 | 8,054 | -17.0% |
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Livingston County | 127 | 186 | 46.5% |
| 3,631 | 2,948 | -18.8% |
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Washtenaw County | 255 | 252 | -1.2% |
| 4,589 | 3,591 | -21.7% |
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Wayne ( - Detroit & G.P.) | 646 | 896 | 38.7% |
| 12,267 | 11,102 | -9.5% |
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Detroit | 853 | 1,476 | 73.0% |
| 15,562 | 12,753 | -18.1% |
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Grosse Pointe(s) | 61 | 63 | 3.3% |
| 808 | 929 | 15.0% |
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Northwest Michigan** | 263 | 134 | -49.0% |
| 10,120 | 9,957 | -1.6% |
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Total | 3,922 | 5,546 | 41.4% |
| 77,035 | 66,398 | -13.8% |
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| Median Sale Price |
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| Ave Chance of Selling (in 120 days) |
Area | Oct 07 | Oct 08 | % Change | Oct 07 | Oct 08 | % Change |
Oakland County | 162,000 | $ 120,000 | -25.9% |
| 19% | 35% | 79.2% |
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Macomb County | 119,000 | $ 80,000 | -32.8% |
| 30% | 52% | 74.3% |
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Livingston County | 185,950 | $ 155,000 | -16.6% |
| 14% | 25% | 80.4% |
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Washtenaw County | 194,000 | $ 149,475 | -23.0% |
| 22% | 28% | 26.3% |
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Wayne ( - Detroit) | 131,000 | $ 90,000 | -31.3% |
| 21% | 32% | 53.3% |
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Detroit | 16,000 | $ 8,000 | -50.0% |
| 22% | 46% | 111.1% |
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Grosse Pointe(s) | 219,200 | $ 147,500 | -32.7% |
| 30% | 27% | -10.2% |
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Northwest Michigan** | 138,900 | $ 134,900 | -2.9% |
| 10% | 5% | -48.2% |
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Total | $ 119,344 | $ 80,922 | -32.2% |
| 20% | 33% | 64.1% |
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Data Source: MiRealsource, Realcomp, Ann Arbor Board & BrokerMetrics |
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Ave Chance reflects the % chance the average home will sell in the next 120 days under the current rate of sales |
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** Includes Grand Traverse, Kalkaska, Antrim, Leelanau and Benzie counties, waterfront properties and vacant land |
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