Michigan's Positive Real Estate Trends

Anyone who has been living in Michigan during the market fluctuations of the previous several years, can take heart knowing that we appear to be coming out of a pretty hefty slump. Across the state, housing prices are on the rise, buyers are buying and sellers are beginning to recoup some their housing investments. As a realtor in East Lansing, Okemos and the Greater Lansing areas, I have celebrated this upswing as both a real estate professional and simply as a Michigan resident. It's rather frustrating to sell houses when the public opinion keeps veering towards doom and gloom, which is why it's so wonderful to offer news of the positive sort.

On a personal level, I recently received a request from a buyer to view a home for the second time, with the intention of making an offer. However, when I went to schedule the showing the home had already sold! This is the second time that this has happened to me in the last two weeks and few signs are more clear that a market is turning than houses disappearing off the market before an interested buyer can get an offer in.

According to a Michigan University finance and real estate professor, the risk of home loan defaults is at a seven year low (IQRealEstate). This he contributes to several factors, including stabilizing home prices, record low interest rates and an improving economy.

A recent Reuters.com article states that U.S. housing sales jumped in February, an 11 percent increase over the same month last year and prices rose. The article cites both Realtors and builders who are commenting on the notable change in home sales, but is careful to warn that the recovery will be slow and often spotted with minor setbacks such as increased home foreclosures.

If you're a buyer searching for a new home in the East Lansing or Lansing areas or are thinking about selling your home, please contact me at MyRealtorRob. As a seasoned East Lansing realtor, I can offer you a quick market analysis so that you can understand what your home is worth and provide you with detailed neighborhood information and other valuable home buying and selling tools.