“There are a lot of homes on the market in Grosse Pointe.”
Fact: As of October 1st, there are 315 homes on the market. The inventory of
single family homes has been dropping steadily for a number of months.
“Nothing is selling!”
Fact: As of October 1st there are 82 homes under contract and
525 HOMES SOLD in 2014.
“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 October 1st, only 6 of the 525 homes for sale in Grosse Pointe were
Bank Owned, and only 8 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 2013, 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 any other
firm in Grosse Pointe.
That’s a FACT !
** Sales figures are from MiRealsource listing service.