Thursday, November 8, 2012

3 Month Market Update

This data is for all of Barry County and only includes Residential Single Family Homes as reported in the SWMRIC System.

From July 1st - September 30th 2011 there were 169 Homes sold at an Average Sale Price of $115,270.

From July 1st - September 30th 2012 there were 223 Homes sold at an Average Sale Price of $127,626.

We are seeing a great year end for Real Estate in 2012. Miller Real Estate and its Agents feel there has been a turning point in the market for this year. The above data shows that upward swing and it has continued since the first of 2012.

Take a drive around Barry County and you will see very few "For Sale" signs compared to a year ago. Miller Real Estate and other agencies are seeing fewer Foreclosures, more buyers and are working with more buyers who can't find homes. There has been a slight shortage of listings over the last 3-6 months and some agents have buyers who they have been working with for over 6 months. While this can be very discouraging to a buyer, in the overall big picture of the market, it is great news.

The overall selling price has ticked slightly upward. If you recall we talked about the lack of Foreclosure sales that led to the increase in selling price. This is still a main factor, but now we are seeing a "real" increase in actual value. While that increase is around 1-2%, it is still in the right direction. That increase is being felt in the ever slower Foreclosure market. While we used to see several $20,000 to $40,000 Foreclosure listings on the market at one time, they are now very hard to find. This is mainly due to the rebound of the market, and with these Foreclosures still being listed, they are now more accurately priced without a heavy discount.

The recent national unemployment rate dropped, there are employers in Barry County hiring, many Barry County residents feel more secure with their current job, and we are seeing families move back and into Barry County. These signs promote strong economic security in our area. While it may not be all of Michigan, it starts with the small things. Securities in the smaller communities and in your home start to become the overall big picture. Soon those small microeconomic developments become Nationwide with macroeconomic results.

Sellers are hoping to become buyers again, and soon! We are seeing back to back transactions more often, and those sellers that are once again buying, are buying here in Barry County. This is a very good sign as to the health of Barry Counties Real Estate Market!!

If you're looking to purchase Real Estate, Miller Real Estate is ready for you! Call one of our Agents today to take that next step. If you're looking to sell, call an Agent for a FREE MARKET ANALYSIS. See what proven results can do for you!!

Thursday, July 19, 2012

3 Month Barry County Market Update!

This data is for all of Barry County and only includes Residential Single Family Homes as reported in the SWMRIC System.

From April 1st - June 30th 2010 there were 183 Homes sold at an Average Sale Price of $104,439.

From April 1st - June 30th 2011 there were 161 Homes sold at an Average Sale Price of $119,283.

From April 1st - June 30th 2012 there were 157 Homes sold at an Average Sale Price of $130,080.

* 2012 has turned out to be a great year, and we are seeing signs of a turning point in Market conditions. This data goes to show that overall 2012 is looking to be a much better year than previous.

* Miller Real Estate is very encouraged by this data, and still continues to work with multiple pending deals waiting to close. Although we cannot predict the future market of Real Estate, we can see the overall prices are on the slow but certain steady increase.

* Fewer active listings are the driving force to this increase sale price activity. While there are fewer and fewer discounted listings, buyer have to make the choice and purchase non foreclosure / short sale deals. This is great news for the conventional sellers that are hoping to sell their home. If the homeowner has had a solid Market Analysis completed, and lists the home accordingly, the end result may be a sale.

* There are still many homeowners that are underwater with their current Mortgage. What is also encouraging is the Banks are becoming more willing to help the homeowners in trying to sell the home short of what they owe, before the Real Estate goes into Foreclosure.

* With all the above happening, we feel an overall sense of economic recovery in the Barry County with regards to Real Estate, and we feel the citizens are able to make a more secure choice in finding that perfect home!

If you are looking to purchase Real Estate, Miller Real Estate is ready for you!! Call one of our Agents today to take the next step. If you are looking to Sell, call an Agent for a FREE MARKET ANALYSIS! See what proven results can do for you!

Tuesday, April 24, 2012

3 Month Barry County Market Update!

This data is for all of Barry County and only includes Residential Single Family Homes.

From January 1st 2011 - March 31st 2011 there were 119 Homes sold at an Average Price of $94,586.

From January 1st 2012 - March 31st 2012 there were 131 Homes sold at an Average Price of $111,746.

* We are having a Great start to 2012. Miller Real Estate's Agents have many sales pending, buyers looking, and new listings coming on the market.

* It is very encouraging to see the amount of activity taking place in the Barry County Real Estate market. While September through February are usually slower months, Miller Real Estate and its' agents were busy the whole time showing and selling homes. While the warmer weather could be a significant factor in this, we feel overall that the population of Barry County is feeling fairly economically secure.

* The market as a whole, is currently seeing fewer Foreclosure listings available in the market, which in turn is driving up the overall average selling price. While the average selling price is increasing, it does not mean that home values overall are increasing substantially.

* These are encouraging signs that we are in recovery mode in Barry County! Roads are being repaired, grants are being given to businesses for downtown development, vacant homes are being rehabbed, jobs are being added to Manufacturing / Service / Health industries, and overall we feel a sense of progress as we walk the streets of Barry County!

In the market for a home? Looking to sell? Contact a Miller Real Estate Agent today!

Wednesday, April 4, 2012

Banks are Destroying America’s Neighborhoods

Always wonder why you may see a house vacant for months on end? Ever wonder why a house is posted for Foreclosure but takes months to become listed?

Take a read of this Great Article out of Colorado! I am sure some of you have heard about the Foreclosure in Kent County that is sitting there with "Varmin." While really it is the new owners issue (The Bank).....this article may explain in better detail what the beast of a "Foreclosure" means.

While we hear of this data daily, it's all the more reason to commit to keeping your Mortgage local. The Local / Regional Banks have more compassion to the situation, and are always committed to keeping the local homeowners and market out of a dangerous Foreclosure territory. It's the larger National Banks that have so much more inventory which in turn, pushes them further towards what this article below explains!

Just another good example of a reason to shop local!
Banks are Destroying America’s Neighborhoods

Thursday, January 26, 2012

3 Month Barry County Market Update

This data is for all of Barry County and only includes Residential Single Family Homes. - Provided by www.swmric.com

From October 1st of 2010 - December 31st of 2010 there were 101 Homes sold at an Average Price of $101,152.

From October 1st of 2011 - December 31st of 2011 there were 144 Homes sold at an Average Price of $114,147.

* This data shows we had a fantastic end to 2011!

* While we may hear differently on the National level, Locally Barry County is in rebound mode. We see this as a slow transition, but happily, it's in the right direction.

* Miller Real Estate was astounded at the level of business we produced during this same period, with  activity still continuing into 2012.  This time of year is usually slow, but the above data proves otherwise. Warm Weather? More Approved Buyers? Motivated Sellers? The reasoning could be endless. Two things are for sure....
1. The data shows an increase in # of homes sold and average price.
2. 2011 was also an increase overall compared to 2010.

* With a large number of approved buyers, pending sales, and closings Miller Real Estate has had since January 1st, we feel 2012 will be a fantastic year! If you want to Buy or Sell get in touch with a Miller Real Estate Agent today!!
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