“There are over 400 homes on the market in Grosse Pointe.”
Fact: As of Nov. 1st, there are 207 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 Nov. 1st there are 73 home under contract and 631 HOMES SOLD so far I 2013.
“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 Nov. 1st, only 6 of the 207 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 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.