Market Conditions in 48188>Question Details

glow74ind, Home Buyer in Canton, MI

hello, What do you think about the home price cost in next 6-8 months. Will it go up or down.?

Asked by glow74ind, Canton, MI Sun Feb 3, 2013

Help the community by answering this question:


Nobody can predict the future but it's been my experience that prices are slowly going up in most areas. Now is the perfect time to buy with historical low interest rates and affordable homes.

Good Luck,

Karen Paytas
Real Living Kee Realty
1 vote Thank Flag Link Sun Feb 3, 2013

It's been quite sometime since this message was posted. There's definitely many factors that determine the value of your home and If you're interested in selling you should seek assistance from a REALTOR to perform an in depth analysis of your subdivision. Please contact me if you have any questions. Have a wonderful weekend.

The Select Team
Benjamin Welch and Justin Roy
Prudential Select Real Estate
22320 Garrison Street, Dearborn, MI 48124
Direct:(734) 377-2108
0 votes Thank Flag Link Fri Jan 17, 2014
So here we are at the end of the year. Looking back on what has happened in the 6 to 8 month peiod that you inquired about, it seems that pricing has continues to move up with strong indications that it will continue to do so.

One of the biggest factors in this regard is the List-to-Sale-Price Ratio. I wrote a blog post about this very thing the other evening and will put a link to it in the web resources below. You can have any agent in the area pull the same stats info along with the easy-to-understand graph as long as they are using the new 3.0 version of Realcomp MLS system.
0 votes Thank Flag Link Fri Nov 15, 2013
Wait a minute, I'll get out my crystal ball. This has been a crazy 5-6 years and no one ever thought home prices would go as low as they did. There are still many factors that can influence home prices including the hundreds of thousands of houses that the banks have foreclosed on that have not been put back on the market. If the banks were to release all these houses at once, the prices would be so negatively affected that the last five years would seem like a real estate boom. But, fortunately, no one thinks the banks will do this. Every indication is that they will release these houses a little at a time over many years. But, there are still many people in need of short sales who are up-side down on their mortgages. The short sales and bank owned properties will still limit an increase in home prices. We are seeing some increases in all areas but I don't think anyone expects the increases to follow the same rate of increase that we saw in the 90's or early 2000's.

For a free market analysis on your home, please call me at 248-930-0198.

Kathy Persha, Realtor
Nextage Advanced Realty
0 votes Thank Flag Link Sun Feb 3, 2013
I cannot make any suggestions on home price fluctuations as I will leave that to a Realtor. However, market conditions suggest that mortgage interest rates may start to climb thus the cost of financing homes will increase. The current conditions are among the best ever to refinace your home or purchase a new home based on financing options and current interest rates.
0 votes Thank Flag Link Sun Feb 3, 2013
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