Metro Detroit foreclosures – will they affect my sales price
I went out on a listing appointment for a Plymouth home last night and one of the questions that came up was : Will all the Metro Detroit foreclosures affect my price on my home. Number 1.) there are very few foreclosures in Plymouth any more. So the amount of Metro Detrooit foreclosures affecting the market is minimal. The only time it really would affect a Plymouth home seller is if the home was similar to yours and if the house was in good shape.
Sure foreclosure prices over the last few years have driven prices down. But now because so many Plymouth home owners are upside down there are fewer home sellers out there. There is a very limited supply of inventory and buyers are waiting to snap up the homes. So this is having a great impact on our market. It is a sellers market and home prices are slowly going up. Which is great for the Metro Detroit real estate market.
So unless there is a Plymouth MI foreclosure on the market at the same exact time as yours is, you have no fear of the foreclosures. It would have to be in as good of shape as your home to be a real factor. Remember it is one home. So as soon as it sells it will be off the market and hopefully your home will be the most desirable home on the market. Then it will be gone.
So do not worry about a Plymouth MI foreclosure ruining your chances of a sale.
Just my thoughts……….. Russ Ravary
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