Birmingham Michigan and Metro Detroit Real Estate

Property taxes are always a concern particularly with first time buyers trying to determine an affordable monthly mortgage payment.  Selling in the Metro Detroit area, I often get asked ‘what are the taxes' as they refer to the amount published in the multiple listing service (MLS).  While this is a very important question, the amount listed should not be relied on.  Even in the same city, taxes can vary considerably from property to property. 

The first thing I check is whether the home has a homestead exemption.  This is often confusing and one of the first things I explain to buyers when discussing property tax.  With so many foreclosures on the market, a home has often lost its homestead exemption.  When a buyer purchases a home, it is declared as their primary residence unless someone owns more than one home-like a summer home.  This allows the home to be taxed on roughly half it's appraised value (in most cities).  Each city votes on millage rates they are used to calculate the amount a property may be taxed.

The homestead exemption is often lost when it goes to foreclosure and no longer privately owned.  Investors are buying property and fixing up homes for resale and the exemption can be lost as well.  Taxes are almost double when there is no homestead exemption.  When a home is closed after May 1, a buyer must wait a year before they can declare the "primary" residence exemption.  So, for the first year, taxes are considerably higher.  Since summer taxes are generally higher than winter, this can make a noticeable difference in a mortgage payment.  A buyer can get this back by filing for reimbursement for the first year at a later date.

Another consideration when confirming taxes is the length of time the seller has owned the home.   If they have owned the home for 10 years or more, they are being taxed on an amount lower than the state equalized value (SEV) which is basically the appraised value.  In a decreasing market, this is currently the subject of property tax appeals as the SEV is not necessarily based on current appraised value.  A buyer should always have their Realtor confirm the taxes by checking public record information and then calculate taxes based on the millage rates of that city.   

When I am working with first time buyers or buyers moving to Metro Detroit, I inform them of millage rates of different cities in the beginning.  This often affects which city they may be interested in when taxes are a concern.  Millage rates are often calculated by the reputation of the schools.  So, if schools are a consideration, buyers are willing to pay the higher property taxes.  While this should be taken into account for resale purposes, first time buyers may not be interested and prefer the lower taxes. 

If you are a first time buyer, please contact me with questions and visit my other posts:

I found a Home - What Do I offer?

First Time Home Buyer Credit

Working with First Time Buyers

Do You Need A Buyer's Agent?

Royal Oak Michigan Realtor selling Oakland County Real Estate.   TishHouse sells Houses - selling Real Estate in Southeastern Michigan with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter.

The following is a monthly market analysis for Northville Michigan.  It compares only residential homes sold in March 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.   Northville Market Analysis also compares first quarter 09 to 08 and year ending March 2008 to March 2009.  To exclude leases in data, minimum sale price used was $5,000.

Market Analysis

March. 09 median sale prices decreased 4% from Feb. 09 & a 24% decrease # of homes sold. Privately owned homes decreased 4% in March 09 and Bank owned homes median price increased slightly in March. 09 from Feb. 09. #of bank owned homes stayed the same  in March 09 from Feb. 09

Mar. 09 median sale price increased 1% from Mar. 08 & 19% increase in # homes sold.

First Quarter 09 median sale price decreased 6% from First Quarter 2008

Year ending Mar. 2008 median sale price compared to yr ending Mar. 09 decreased 9%;

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.

Active & Solds March 2009

284 listings:		16 Sold listings:
Average List Price	$537,344	Average Sold Price	$329,844
Median List Price	$446,000	Median Sold Price	$308,500
Highest List Price	$3,999,000	Highest Sold Price	$747,859
Lowest List Price	$15,000.00	Lowest Sold Price	$87,000
Avg. DOM	210	Avg. DOM	164
Private Owned	268 listings	Private Owned	12 Sold
Median List Price	$450,000	Median Sold Price	$308,500
Bank Owned	16 listings	Bank Owned	4 Sold
Median List Price	$290,000	Median Sold Price	$308,750

Active & Solds February 2009

283 listings:		21 Sold listings:
Median List Price	$445,000	Median Sold Price	$322,000
Private Owned	273 listings	Private Owned	17 Sold
Median List Price	$450,000	Median Sold Price	$322,000
Bank Owned	18 listings	Bank Owned	4 Sold
Median List Price	$272,700	Median Sold Price	$307,500

Active & Solds March 2008

281  listings:		13 Sold listings:
Median List Price	$447,000	Median Sold Price	$305,000

First Quarter ending March 31, 2009

321		53 Sold listings:
Median List Price	$435,000	Median Sold Price	$325,000

First Quarter ending March 31, 2008

447 listings:		53 Sold listings:
Median List Price	$446,000	Median Sold Price	$346,000

April 1, 2007 - March 31, 2008

537 listings:		273 Sold listings:
Median List Price	$445,000	Median Sold Price	$400,000

April 1, 2008 - March 31, 2009

562 listings:		298 Sold listings:
Median List Price	$416,249	Median Sold Price	$363,750

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Market Analysis for Northville February 2009

Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Northville Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter.

April is Michigan Wine month and to kick it off, I attended the Michigan International Wine Expo held at Rock Financial Showplace in Novi.  To top it off, I saw Claudia Tyagi, Master Sommelier and followed her around to find out what she knows about wine.  What I learned is that a Master Sommelier knows a lot about wine and knows a lot of local people in the wine world.  So I got a glimpse of what she knows, felt like a celebrity and discovered several Michigan wineries-and not too far from Metro Detroit.  What stood out is their commitment to support local growers. 

While there were four major Michigan wineries represented at the Expo, I had interviews with three, learned about the southeast Michigan Pioneer Wine Trail and tasted . . . I won't say how many.

Michigan Wineries Support Local Growers from Cathy Tishhouse on Vimeo.

Burgdorf's Winery was my first stop. Located in Haslett, Dave & Deb Burgdorf promote their boutique winery as "A Moment in Wine" offering the opportunity for you to make a batch of your own customized wine.  What started more as a hobby has turned into a Federal and State approved bonded winery.

Pentamere Winery is an "urban" winery because they are located in the historic downtown of Tecumseh in a renovated building over 100 years old.  Also a ‘Boutique" winery-code for itty-bitty micro-winery-their space is extremely limited-half the floor is missing to house the large tanks. Named for the "five seas", they get their fruit from the orchards of the Great Lakes.

Sandhill Crane Vineyards (video #2) is a small-scale family-owned vineyard and winery in rural Jackson County featuring estate-bottled wines. The winery was named after the large, vocal birds which feed in the cornfields next door. It's located only a few minutes away from the Haehnle Bird Sanctuary where each fall thousands of cranes gather before heading south.

The Begin family, Robert, Nadine and daughter Marie-Chantal, opened the doors in 1993 upon the completion of a French style three room B&B, winery and vineyard estates.  Chateau Chantal is located on a 65-acre estate on Old Mission Peninsula, in one of the most scenic areas of the Great Lakes.  The B&B combines vineyards and winery, a bed & breakfast views of East and West Grand Traverse Bays, Power Island, and rolling vineyards from each window. 

One of the more interesting things I heard was in a conversation between Claudia Tyagi and Lee Hershey who is a wine consultant/educator at Schoolcraft college.  I found out that buying the right wine for around $50, can years later turn into a significant investment worth over $16,000. 

Michigan International Wine Expo in Novi Michigan from Cathy Tishhouse on Vimeo.

As you saw in the video, the age of the grape vines can make a huge difference in the tasting experience of wines.  XYZin offered wines to taste from 10 year old vines, 50 year old vines and 100 year old vines.  Called their "Vine Age Series", I was impressed with the relationship of vine age to the taste.  Their brochure states that "of the thousands of acres planted to Zinfandel in California, less than one percent is more than a century old."  Upon reading more, I had no idea that vines could have different canopy of leaves, permitting the right amount of sunlight and slower, even ripening.  From my experience as a food & beverage waitress, I have been to tastings and experienced the complexity of grape varietals, oak aged wine and so much more-this was a new experience.

Finally, with drinking wine, there are always those empty bottles.  Counter Creations, a local Michigan company, had an attractive display of softly lit bottles.  They create the lights to decorate a bar, counter or even to be used as night lights-perfect for a wine expo.

It was definitely a day well spent.  I learned about the Pioneer Wine Trail consisting of six southeast Michigan Wineries within driving distance to Metro Detroit.  They have different events throughout the year and a tour of the wineries is definitely on my list for this year.  

Oakland County Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service and you can always follow me on Twitter.

Whether you are a first time buyer or buying your next home, ‘what do I offer' is always a big question-especially in this challenging market.  I am reminded of the Charles Dickens quote:  "It is the best of times - it is the worst of times".  First time buyers have so many reasons to buy with the first time buyer credit, current mortgage rates and a huge inventory to select from.  However, there is always the concern - will my home decrease in value shortly after I negotiate a deal.  Hence, what to offer?

Whatever you offer, remember that it will have to pass the appraisal.  The bank wants to insure that the home is indeed priced correctly.  They will not loan money for a home that is not priced at current market value.  While these are uncertain and challenging times, the market will eventually go back up-it always does.

 For first time buyers, there are many questions about the whole process of buying a home.  In part one I covered several steps in the home buying experience.  Once you have chosen a Realtor that you feel comfortable working with and found a home you like, the next important question is - what do I offer?

 The first thing your Realtor will do is provide a comparative market analysis (CMA) of all homes that have sold in the area.  Always ask to see prices of homes sold within the last six months.  While six months is a reasonable time, focus on the most recent - preferably within the last month.  There is no hard and fast rule in a market with a lot of inventory as homes stay on the market longer that they used to.  While recent sales are best, there is the danger that most recent sales are often foreclosed homes.  While these affect the market significantly, it isn't always comparing apples to apples - unless the home you are buying is also a foreclosed home.  Here are some guidelines to look for when your Realtor provides a comparative market analysis.

1.  Homes used in a market analysis should be within a half mile radius - or a mile depending on density of the area - unless the home is very unique or in a rural area.
2. The comparative homes should be within 10 years of age - younger or older.  You wouldn't compare a new construction to a home built in 1950 etc.
3. Sold homes should be within 20% square feet of the home you are comparing.  If the home is 1000 sq. ft., comparables should range from 800 sq. ft. to 1200 sq. ft.
4. They should be similar, i.e. if your home has a basement and/or garage, the comparative home should have the same or close to it.  The same applies to number of bathrooms and finished basement opposed to unfinished.
5. All homes that are being compared should be in the same school district since schools can affect the price.  If the radius around the home you selected is near another city, take into account the difference in reputation of the schools to adjust what to offer.
6. Your Realtor will arrive at an "average price per sq. ft." for the final analysis that most comparatively meet the above criteria.  Use this amount to multiply the square feet of the home you selected.  For example:  the average price per sq. ft. may be $75 x 1000 (sq. ft. of the home you have selected).  Basic price to offer would be $75,000. 

Here is where the experience of your Realtor is essential.  He/she knows the market in that area and may be able to provide a recent market analysis of monthly or quarterly price statistics.  Your Realtor will recommend a price based on their knowledge of the area and the adjustments necessary to reflect the features of the home you selected.  For example, if your home has two baths and all homes sold have only one bath, they will guide you accordingly. 

Your offer should include a home inspection.  Once your offer is accepted, you will have 7 - 10 days to complete one.  Your Realtor can provide names of good inspectors.  This is your final opportunity to renegotiate the price if there are significant repairs that you could not foresee when you made the offer.  You may still back out of the deal completely if there is extensive damage and/or repairs that cannot be agreed upon with further negotiation.

 As a final thought, I find that buyers expect to offer considerably less just because they hear "it is a buyer's market".  While I have seen a few "low-ball" offers accepted, I have seen many more refused.  Your Realtor can tell you how long a home has been on the market, if there have been previous offers and give you their advice.   If you are dealing with a bank, it is all about the bottom line and they may be ready to just have it sold.  If it privately owned and you really want the home, understand that sellers are not desperate to give it away.  While some may be over priced, most know they are competing with foreclosed prices and they must fall in line with current market value.

Royal Oak Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service and you can always follow me on Twitter.

In high school, I was voted "girl with the Most Beautiful Hair".  I had natural blonde hair that I could sit on.  While I still care very much about my hair and appearance, I have grown a little less obsessed with the title bestowed on me.  My hair is now a darker blonde and my hairdresser blends in highlights that give me the illusion of being the natural blonde of my youth.  

Hair is important to almost every woman I know.  A friend was constantly asking (several times in an hour) for advice about her hair-of which she never followed.  Finally I forbid her to talk to me about her hair. After an operation, I still remember my sister (still groggy) being rolled into her room asking "how does my hair look.  The "good hair" days and the "bad hair" days can be a significant barometer of how the whole day will go.

Gary Gagnon styled & colored my hair for over 20 years.  When I began to move out of the "long hair I can sit on" phase, I found Gary very soon.  Since that time, I have only gone to one other person.  I didn't like my hair so I came to Gary in tears and he fixed it.  Over the years, we have gone from long to short, a few permanent curls and back to long.  His ability has cheered me up when I needed it, elicited many compliments and prompted many referrals. 

 I often thought about the professional life of a hair dresser.  I came when I looked my worst, he worked his magic, big smiles as I admired it, compliments and I thank him as I leave.  I go out and enjoy myself and he never sees the difference it made.  The only way he knows is when I come back again and again for those few hours.  Over the 20 years I changed professions, followed him to four different salons, talked a lot about our favorite things and developed a quiet friendship that will be deeply missed. 

He had faithful to him even longer than I.  His shampoo assistant had worked with him for 29 years.  She was the one that told me he had been missing for about 2 days when he didn't show up for work.  His four dogs and 7 parrots (he rescues them) were left unattended, his home unlocked and ransacked & cars in the garage.  While we imagined all possible explanations, we didn't want to believe the worst.  I was just stunned.  Four days later, they found his body.  It is so hard to believe that anyone could do such a thing to someone who was so generous and kind.  I attended his funeral Friday and it was packed with all of us whose lives he had touched in so many ways. 

Oakland County Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate  and Wayne County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service and you can always follow me on Twitter.

This is a monthly market analysis for Beverly Hills Michigan.  It compares only residential homes sold in March 2009 with Feb. 09 determining # of homes sold for the month & increase/decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Beverly Hills Market Analysis also compares First Quarter 2009 to 2008 and year ending March 2008 to March. 2009.  To exclude leases in data, minimum sale price used was $5,000.

Market Analysis

March. 09 median sale prices decreased 53% from Feb. 09 & a 25% decrease in # of homes sold. Private owned median price increased 12% in March 09 from Feb. 09.  Bank owned homes median price decreased 51% in March. 09 from Feb. 09.  Keep in mind only 1 private home sold in March 09

Mar. 09 median price decreased 74% from Mar. 08 & 63% decrease in # homes sold

First Quarter 09 median sale price decreased 61% from First Quarter 2008 & 63% decrease in # homes sold

Year ending Mar. 2009 median price compared to yr ending Mar. 08 decreased 23%;

Analysis compiled from RealComp II data believed reliable & rounded to nearest %

Active & Sold March 2009

128 listings:		3 Sold listings:
Average List Price	$279,327	Average Sold Price	$113,167
Median List Price	$250,000	Median Sold Price	$60,501
Highest List Price	$1,095,000	Highest Sold Price	$249,000
Lowest List Price	$32,500	Lowest Sold Price	$30,000
Avg. Days On Market	188	Avg. Days On Market	97
Private Owned	117 listings	Private Owned	1 Sold
Median List Price	$265,000	Median Sold Price	$249,000
Bank Owned	11 listings	Bank Owned	2 Sold
Median List Price	$74,900	Median Sold Price	$45,250

Active & Sold February 2009

129 listings:		4 Sold listings:
Median List Price	$279,900	Median Sold Price	$129,050
Private Owned	118 listings	Private Owned	2 Sold
Median List Price	$267,450	Median Sold Price	$220,050
Bank Owned	11 listings	Bank Owned	2 Sold
Median List Price	$99,900	Median Sold Price	$92,250

Active & Sold March 2008

133  listings:		8 Sold listings:
Median List Price	$255,000	Median Sold Price	$229,950

First Quarter ending March 31, 2009

134 listings:		9 Sold listings:
Median List Price	$250,000	Median Sold Price	$96,500

First Quarter ending March 31, 2008

149 listings:		24 Sold listings:
Median List Price	$259,000	Median Sold Price	$248,700

April 1, 2007 - March 31, 2008

225 listings:		100 Sold listings:
Median List Price	$279,000	Median Sold Price	$273,000

April 1, 2008 - March 31, 2009

228 listings:		103 Sold listings:
Median List Price	$242,450	Median Sold Price	$210,000

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Market Analysis for Beverly Hills February 2009

Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Beverly Hills Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter.

The following is a monthly market analysis for Ferndale Michigan.  It compares only residential homes sold in March 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Ferndale Market Analysis also compares First Quarter 2009 to 2008 and year ending March 2008 to March. 2009.  To exclude leases in data, minimum sale price used was $5,000.

Market Analysis

March. 09 median sale prices increased 13% from Feb. 09 & a 22% increase in # of homes sold. Private owned median price decreased 15% March 09 from Feb. 09 & #of homes sold stayed about the same.  Bank owned homes median price increased nominally in March. 09 from Feb. 09.

Mar. 09 median sale price decreased 56% from Mar. 08 & # homes sold doubled in Mar.09

First Quarter 09 median sale price decreased 63% from First Quarter 2008

Year ending Mar. 2009 median sale price compared to yr ending Mar. 08 decreased 45%;

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.

Active & Sold March 2009

330 listings:		40 Sold listings:
Average List Price	$90,985	Average Sold Price	$44,643
Median List Price	$79,900	Median Sold Price	$34,000
Highest List Price	$279,900	Highest Sold Price	$180,500
Lowest List Price	$9,000	Lowest Sold Price	$5,000
Avg. Days On Market	161	Avg. Days On Market	110
Private Owned	256 listings	Private Owned	10 Sold
Median List Price	$99,900	Median Sold Price	$65,250
Bank Owned	74 listings	Bank Owned	30 Sold
Median List Price	$29,900	Median Sold Price	$25,000

Active & Sold February 2009

321  listings:		31 Sold listings:
Median List Price	$85,000	Median Sold Price	$29,500
Private Owned	255 listings	Private Owned	9 Sold
Median List Price	$99,900	Median Sold Price	$77,000
Bank Owned	66 listings	Bank Owned	22 Sold
Median List Price	$29,900	Median Sold Price	$24,170

Active & Sold March 2008

310  listings:		20 Sold listings:
Median List Price	$89,900	Median Sold Price	$76,550

First Quarter ending March 31, 2009

385 listings:		95 Sold listings:
Median List Price	$75,000	Median Sold Price	$29,500

First Quarter ending March 31, 2008

346 listings:		56 Sold listings:
Median List Price	$89,900	Median Sold Price	$79,949

April 1, 2007 - March 31, 2008

593 listings:		303 Sold listings:
Median List Price	$99,500	Median Sold Price	$103,000

April 1, 2008 - March 31, 2009

700 listings:		410 Sold listings:
Median List Price	$72,500	Median Sold Price	$57,000

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Market Analysis for Ferndale February 2009

Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Ferndale Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter. 

The following is a monthly market analysis for Berkley Michigan.  It compares only residential homes sold in March 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Berkley Market Analysis also compares First Quarter 2009 to 2008 and year ending March 2008 to March. 2009.  To exclude leases in data, minimum sale price used was $5,000.

Market Analysis

March. 09 median sale prices increased 25% from Feb. 09 & a 44% increase in # of homes sold. Private owned median price decreased 13% March 09 from Feb. 09 & #of homes sold increased 67%  Bank owned homes median price increased 8% in March. 09 from Feb. 09.

Mar. 09 median sale price decreased 13% from Mar. 08 & 32% increase in # homes sold.

First Quarter 09 median sale price decreased 16% from First Quarter 2008

Year ending Mar. 2009 median sale price compared to yr ending Mar. 08 decreased 13%;

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.

Active & Sold March 2009

186 listings:		25 Sold listings:
Average List Price	$128,615	Average Sold Price	$111,256
Median List Price	$129,900	Median Sold Price	$110,000
Highest List Price	$325,000	Highest Sold Price	$215,000
Lowest List Price	$29,900	Lowest Sold Price	$25,000
Avg. Days On Market	135	Avg. Days On Market	145
Private Owned	161 listings	Private Owned	18 Sold
Median List Price	$135,900	Median Sold Price	$118,500
Bank Owned	25 listings	Bank Owned	7 Sold
Median List Price	$79,900	Median Sold Price	$55,000

Active & Sold February 2009

175  listings:		14 Sold listings:
Median List Price	$129,900	Median Sold Price	$73,000
Private Owned	149 listings	Private Owned	6 Sold
Median List Price	$137,500	Median Sold Price	$135,575
Bank Owned	26 listings	Bank Owned	8 Sold
Median List Price	$65,575	Median Sold Price	$50,500

Active & Sold March 2008

178  listings:		17 Sold listings:
Median List Price	$134,900	Median Sold Price	$127,000

First Quarter ending March 31, 2009

213 listings:		52 Sold listings:
Median List Price	$129,684	Median Sold Price	$104,000

First Quarter ending March 31, 2008

201 listings:		43 Sold listings:
Median List Price	$135,000	Median Sold Price	$123,300

April 1, 2007 - March 31, 2008

379 listings:		218 Sold listings:
Median List Price	$142,500	Median Sold Price	$149,000

April 1, 2008 - March 31, 2009

409 listings:		248 Sold listings:
Median List Price	$134,500	Median Sold Price	$129,750

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Market Analysis for Berkley February 2009

Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Berkley Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter.

The following is a monthly market analysis for Rochester & Rochester Hills Michigan.  It compares only residential homes sold in March 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.   Rochester Hills Market Analysis also compares first quarter 09 to 08 and year ending March 2008 to March 2009.  To exclude leases in data, minimum sale price used was $15,000.

Market Analysis

March. 09 median sale prices decreased 7% from Feb. 09 & a 30% increase # of homes sold. Bank owned homes median price decreased 37% in March. 09 from Feb. 09. #of bank owned homes increased 35% in March 09 from Feb. 09

Private owned homes increased 1% in March 09 from Feb. 09 & # sold increased 26%

Mar. 09 median sale price decreased 10% from Mar. 08 & 10% increase in # homes sold.

First Quarter 09 median sale price decreased 13% from First Quarter 2008

Year ending Mar. 2009 median sale price compared to yr ending Mar. 08 decreased 14%;

Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.

Active & Solds March 2009

670 listings:		40 Sold listings:
Average List Price	$306,198	Average Sold Price	$195,648
Median List Price	$243,575	Median Sold Price	$194,500
Highest List Price	$2,499,000	Highest Sold Price	$505,000
Lowest List Price	$25,000	Lowest Sold Price	$33,750
Avg. DOM	210	Avg. DOM	164
Private Owned	594 listings	Private Owned	23 Sold
Median List Price	$250,500	Median Sold Price	$209,000
Bank Owned	76 listings	Bank Owned	17 Sold
Median List Price	$127,400	Median Sold Price	$155,000

Active & Solds February 2009

658 listings:		28 Sold listings:
Median List Price	$245,000.00	Median Sold Price	$210,000
Private Owned	588 listings	Private Owned	17 Sold
Median List Price	$250,500	Median Sold Price	$206,150
Bank Owned	70 listings	Bank Owned	11 Sold
Median List Price	$129,900	Median Sold Price	$246,000

Active & Solds March 2008

666  listings:		36 Sold listings:
Median List Price	$246,250	Median Sold Price	$215,000

First Quarter ending March 31, 2009

735 listings:		105 Sold listings:
Median List Price	$240,000	Median Sold Price	$202,000

First Quarter ending March 31, 2008

732 listings:		102 Sold listings:
Median List Price	$248,250	Median Sold Price	$232,357

April 1, 2007 - March 31, 2008

1245 listings:		615 Sold listings:
Median List Price	$239,900	Median Sold Price	$220,000

April 1, 2008 - March 31, 2009

1272 listings:		642 Sold listings:
Median List Price	$259,900	Median Sold Price	$255,000

If you are looking to Purchase a Home, click here for an IDX Home Search

If you are looking to Sell a Home, click here for an outline of our Marketing Strategy

Rochester Hills Market Analysis February 2009

Rochester Hills Market Analysis for January 2009

Oakland County Market Analysis for March 2009

Oakland County Market Analysis for February 2009

Rochester Hills Realtor selling Real Estate in Southeastern Michigan.  TishHouse sells Houses - selling Oakland County Real Estate with RE/MAX Showcase Homes in Birmingham, Michigan. Helping People in a challenging market by specializing in Short Sales. See what my clients have to say about my extraordinary customer service.  Follow me on Twitter.