Home Selling in Farmington>Question Details

Sam, Home Seller in Michigan

Has the real estate market improve to sell houses in Farmington Hills.

Asked by Sam, Michigan Thu Mar 12, 2009

Are still too many inventories in the market and foreclosures with good deal.
What is the pricing index from last 2 years... still down 20% or improving...
Is the city considering to reduce property taxes....with new assessment, it sounds like.
Thanks for reply.

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Answers

3
The market is improving more and more every month!! Inventory is very low which helping values go up! Lots of bidding wars!! If a home is priced right they go quick!
0 votes Thank Flag Link Tue Feb 10, 2015
Sam,

Although home sales are up about 10% from last year at this time, home values are still depressed. With all of the foreclosures and financial hardship sales taking place this can place a downward pressure on the value of all homes.

However with the $8,000 1st time buyer tax credit out there, and interest rates at a four year low there are plenty of motivated buyers.
0 votes Thank Flag Link Fri Mar 13, 2009
The market is great for buyers. It's great for sellers who will be buying "up." Cities are not reducing taxes, they are just getting less money as property values decline.
0 votes Thank Flag Link Thu Mar 12, 2009
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