Make Money in 2011: Your Home

………..What to Watch: Signs of an improving market: three straight months of rising sales and a decreasing inventory of homes (a six-month supply is considered healthy; today it’s 11 months). A local agent or realtor’s association can supply you with that data.

Action Plan: Buyers. Don’t try to time the market perfectly. Even if prices fall a bit more in your area, mortgage rates could rise later in the year, offsetting the drop. Initially bid about 10% below what comparable homes have sold for over the past three months; go even lower if the area is rife with foreclosures………………….

Michigan foreclosure rates by ZIP Code…

Opportunities or scary realities ? The webmaster passes along these thoughts with the post/link: New administration in Lansing should make MI a changed economy in about 3 yrs ( ask me for my source ), the areas with the furthest drops should see the biggest opportunity for gains – we’ll we’ve certainly dropped, and current clients are loading up on rentals w/experiences that they feel favor the landlord….cheap properties/strong rents. Webmaster

Michigan’s foreclosure rate was the 5th highest nationwide for the month of October. About one in every 235 housing units in Michigan received a foreclosure filing. Nevada, Florida, Arizona and California were the top four states, respectively.

ZIP Codes in Monroe (48145), Van Buren (49027), Livingston (48139) and Oakland county (48178) had the highest foreclosure rates in the state last month.

Search this database

Home Upgrades: More Cost Than Value

“Falling home prices pushed the value of remodeling down for the fourth consecutive year, buts small-scale projects and replacements may be leading the way to recovery,”  Webmasters note: Call us for ideas specific to your area/ property/ and situation, put my 3  licenses & 28 yrs experience brokering, building & investing to work for you.