How is the market in Royal Oak, Mi looking?

Asked by Vikash Shah, 48098 Tue Oct 23, 2007

Specifically 2 bedroom and 2 bath condos. From Trulia I see a trend that the prices have been going down, but for how long?

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3
Maureen Fran…, Agent, Birmingham, MI
Tue Oct 23, 2007
Vikash,

Prices have been trending down throughout Metro Detroit. We are still seeing good activity though. Each home or condo needs to be considered individually. I would take a look at your condo and compare it to other comparable sales in your complex to get a better idea of value.

If the second part of your question is an inquiry about how long prices will fall, I don't think there is anyone who can give you anything more than speculation. Economists were saying they expected a turnaround next year.
Web Reference:  http://mioaklandcounty.com
1 vote
Ann Byer, Agent, Commerce, MI
Fri Nov 23, 2007
Yes, prices are going down but it won't last long and when it does start to edge up it will happen quickly. Right now and I am sure you have it this before is the optimal time to buy if you are a first time home buyer or if you just simply want to upgrade. Find representation from a good realtor that will help you seek out good properites at a good price.
0 votes
Carlo Gobba, Agent, Bloomfield Hills, MI
Thu Nov 15, 2007
Values have been trending down for sure. It's time to buy! No one can say how long for sure. It is better to buy on a downward trend than an upward one though.
Web Reference:  http://www.carlogobba.com
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