Macomb County MI real estate - 1st time home buyers info & advice

Last week I wrote about the average sales price during the 4th quarter of 2009 for residential
sales in Macomb County MI.   I thought it would be interesting for those who are perhaps looking
for a home to purchase in Macomb County, or those who are considering putting their homes
on the market to get a glimpse of the homes that sold near the average sales price of $92,626.

In St. Clair Shores (the south east side of Macomb County) this home on Marter sold for $90,000 with $5400 being paid by the seller in concessions to the buyer.  This brick ranch featured 3 bedrooms,a 2 1/2 car garage and was approximately 1450 square feet.

Along the Martin and Gratiot corridor in
Roseville this home on Rock sold for
$93.000 and the seller contributed $2927
in concessions to the buyer.  It is also a
brick ranch with 3 bedrooms,  1 1/2 baths,
a 2 car garage and is approximately 1425
square feet.

On the far east side of Macomb County towards the north is Harrison
Township.  This ranch on Chart Street sold for $94,750 with sellers concessions of $5685.   It has approximately 1000 square feet and is a 3 bedroom home with a 1 1/2 car garage.

New Baltimore MI is on the northern end of Macomb County bordered by Anchor Bay on Lake St. Clair.This newer built ranch home on County Line sold for $94,000 with the seller paying $2820 towards the buyers closing costs (concessions).   It is approximately 1200 square feet with 3 bedrooms, 2 full baths and a 2 car attached garage.  (Home is being reported as a foreclosure sale)

If you have any questions about recent home sales in your area please do not hesitate to contact me.    No pressure - just conversation.



**All sold data courtesy of Mirealsource™ and its participating brokers & agents and is deemed to be reliable but not guaranteed **

As I read through the statistical reports for Macomb County yesterday and this morning I tried
to get a feel for what I am seeing and analyzing.

2009 was indeed a tough year for home prices in the county as a whole, with the average sales
price of a single family residential home plunging by 22.5%.   Looking at the sales prices recorded
in the month December there seemed to be a bit of stabilization:  There was only a 2.7% drop in
sales prices when looking at December 2009 compared to the sales prices in December of 2008.

One months worths of sales prices in comparison to the previous years for the same month
however doesn't predict a trend. Yet when I look at the 4th quarter of 2009 I am encouraged:

This is the smallest difference in reported sales prices that I have seen in years.  It is also encouraging
to me because if this trend holds we may be starting to see some stabilization in the freefall of prices
that have it our region of Michigan so hard during the last several years.

A couple of things need to happen to ensure that this stabilization occurs:   Job loss needs to be
nipped in the bud, and there cannot be an increase of foreclosures to hit our real estate market again.

Over the next week or so I will be posting more comprehensive sales analysis for each section of Macomb
County.  (For example:  How the city of Eastpointe is doing in comparision to Shelby Township, etc.)
In the meantime, if you would like a detailed analysis of how your neighborhood is faring please don't
hesitate to contact me for a no obligation market report.  No pressure - just conversation.