Today the Housing Bail out was signed into law. It is not a rescue for the homeowners but for the investors who packaged these loans together.Wall Street hedged their bets on the homes increasing in value and they lost.
If you live in Ann Arbor, you know it is true.
If is not a pretty picture out there. When Pfizer left it brought down all the home values in your neighborhood. You know it.
If you live in Ann Arbor or Washtenaw County you know in the past we have only encountered a plateau during recessions and then bounced back. A plateau is a flat line; it is not a down line.
We are in a down line, and have been for several years.
If you don't have to sell, DON'T.
If you have your home on the market, and get a low offer, SELL.
Don't wait; we are just beginning this wild ride.
Homes are selling; the ones priced right, the ones in great condition.
Foreclosures and "short sales" are selling.
I checked the Ann Arbor MLS last week for closings in September. Guess what? 17 were foreclosures and short sales. The other ½ were not. That is 50-50.
I am closing on a home next week, my seller paid 305,000.00. They are walking into closing with 45K. Not many of you in Ann Arbor can do that, fortunately they can. But, it is sad, so sad.
I would say over ¾ of my closings this year; the sellers have brought in money to sell their home. They are ethical and did the right thing. They did not walk away.
Not my usual positive post, but I'm not feeling too yippy skippy tonight.
Missy Caulk & Team can be reached at 734-926-9797 or email: Missy@MissyCaulk.com
Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.
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Stay strong, stay faithful, stay honest, stay loving, stay true to who you are, most importantly stay true to who God is as you'll be who you are, and you'll be happy, you'll be you, you'll be free. -Jamie Caulk
