“When the eventual buyer of our home provided an offer, Scott gave us candid and sound advice as to how the offer should be handled. Throughout the process, we always felt he had our best interests in mind.”
DAVID AND ANNE C.

05.19

The Wall Street Journal reported this weekend that one of the reasons there is growing demand for housing, is more renters now want to be homeowners – changing a dynamic that occurred in the last “great recession.”

According to the Journal story, (April 28, 2017 page 2) for the first time in 10-years, more U.S. households have chosen to buy homes rather than rent. An estimated 854,000 new-owner households were formed in the first quarter of this year – more than double the number of new renter households. That bodes well for continued rising home prices in the Grosse Pointes! 

The WSJ reports that overall home ownership rates dropped slightly to 64.6% in the first quarter compared to 63.7% in the last quarter of 2016 but economists say the rise in new homeowners in 2017 is highly encouraging! Enjoying your home? Want to downsize or upscale? Now is a good time.

05.18

While a White House proposal to lower income taxes may be good for your wallet next year, the initiative has caused mortgage rates to rise slightly.

President Donald Trump’s promised tax reform plan propelled mortgage rates higher this week.

The increase ended a three-week streak of declining mortgage rates. It looked like mortgages were holding steady until late last week. Then, on Friday afternoon, President Trump announced that he would introduce a tax reform plan around the middle of this week.

Investors were excited by the prospect of what Trump promised would be “maybe the biggest tax cut we’ve ever had.” That stoked a stock market rally, accompanied by an increase in bond yields. Mortgage rates followed bond yields upward. Even though they rose, mortgage rates are near historical lows, making this a good time to get a mortgage.

The Trump administration’s tax reform plan, released Wednesday afternoon, called for a reduction in income tax rates and a higher standard deduction.

More buyers than houses
Applications for home loans increased 2.7 percent from the previous week, according to the Mortgage Bankers Association. There are more would be buyers than inventory in Grosse Pointe and around the nation.

New home sales were up this spring and prices rose, too. Joel Naroff, president of Naroff Economic Advisors, says we’re not in a housing bubble, but the shortage of homes for sale “will likely lead to even faster price increases going forward.”

What mortgage rates did
30-year fixed 4.10% 4.20% 4.30% 4.40% 4.50%

The benchmark 30-year fixed-rate mortgage rose this week to 4.19 percent from 4.16 percent, according to Bankrate’s weekly survey of large lenders. A year ago, it was 3.83 percent. Four weeks ago, the rate was 4.30 percent.

05.15

Grosse-Pointe-Homes

M-Live media reports that home sales are moving quickly in Metro Detroit with the closings within 30-days in many areas of the Motor City. That’s good news for Grosse Pointers on many levels! Inventories in Grosse Pointe are low and prices are up. The trend toward rising property values and quick closings bodes well for property values in the Pointes – a win-win for everyone. Detroit has some beautiful homes.

It also is home to thousands of fixer-uppers, thanks to its population loss over decades. Those rehab opportunities  – including some on the near east side, around Hamtramck – are helping to fuel significant buyer activity in the city. The area bordered by I-75 and Conner, Mack and McNichols, is one of the hottest areas for fast closings in the state with some closing within just 23 days!

The hottest area in the city for listings is on the far east side on the  Harper Woods border. Neighborhoods in it include East English Village, Morningside, Denby and Chandler Park.

07.01

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of July1st, there are 209 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of July 1st there are 139 homes under contract and 439 HOMES SOLD in 2016.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“Many of the homes on the market are in foreclosure.”

Fact: As of July 1st, only 3 of the 209 homes for sale in Grosse Pointe were bank owned, and only 2 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2015, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

06.03

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of June 1st, there are 197 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of June 1st there are 148 homes under contract and 341 HOMES SOLD in 2016.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“Many of the homes on the market are in foreclosure.”

Fact: As of June 1st, only 5 of the 196 homes for sale in Grosse Pointe were bank owned, and only 2 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2015, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

04.08

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of April 1st, there are 180 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of April 1st there are 95 homes under contract and 135 HOMES SOLD in 2016.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“Many of the homes on the market are in foreclosure.”

Fact: As of April 1st, only 6 of the 180 homes for sale in Grosse Pointe were bank owned, and only 3 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2015, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

03.04

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of March 1st, there are 176 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of March 1st there are 97 homes under contract and 87 HOMES SOLD in 2016.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“Many of the homes on the market are in foreclosure.”

Fact: As of March 1st, only 4 of the 176 homes for sale in Grosse Pointe were bank owned, and only 2 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2015, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

01.06

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of January 1st, there are 195 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of January 1st there are 65 homes under contract and 817 HOMES SOLD in 2015.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“50% of the homes on the market are in foreclosure.”

Fact: As of January 1st, only 6 of the 195 homes for sale in Grosse Pointe were bank owned, and only 6 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2015, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

10.30

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of November 1st, there are 261 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of November 1st, there are 74 homes under contract and 712 HOMES SOLD in 2015.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“50% of the homes on the market are in foreclosure.”

Fact: As of November 1st, only 5 of the 261 homes for sale in Grosse Pointe were bank owned, and only 4 homes required Short Sale approval.

“Interest rates are rising.”

Fact: Fixed rate mortgages are available around 4%.

“No one is moving to the Grosse Pointe area.”

Fact: In 2014, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”

08.03

“There are a lot of homes on the market in Grosse Pointe.”

Fact: As of August 1st, there are 268 homes on the market. The inventory of single family homes as been dropping steadily for a number of months.

“Nothing is selling!”

Fact: As of August 1st, there are 135 homes under contract and 456 HOMES SOLD in 2015.

“With the recent Credit Crunch, it’s almost impossible to get a home loan right now.”

Fact: There are many options available to buyers that have reasonable credit.

“50% of the homes on the market are in foreclosure.”

Fact: As of August 1st, only 5 of the 268 homes for sale in Grosse Pointe were bank owned, and only 3 homes required Short Sale approval.

“Interest rates are rising.”

Fact: In 2014, Adlhoch and Associates sold homes in the Grosse Pointes to families moving from California, Florida, Idaho, Illinois, Iowa, Maryland, Massachusetts, New York, Wyoming, South Korea, and locally from many Michigan communities.

“When I buy a house, my real estate taxes are going to increase significantly.”

Fact (in most cases): Because of the adjustments that have occurred in the market place, most tax bills are remaining unchanged or even going down after the sale.

“Adlhoch and Associates has sold more homes in this difficult market than other firm in Grosse Pointe.”

“That’s a FACT!”