Wayne County real estate is taking longer to sell.

Nothing has changed in 2009.  Wayne County homes are still taking a long time to sell.  The amount of Metro Detroit homes on the market has decreased.  Simply because many people can’t sell their homes for what they owe on the mortgage.  So they can’t sell it easly.  It is not usual for 25 to 50% of the homes for sale to be Metro Detroit foreclosures.  It is the same in Oakland CountyLivingston County, and Washtenaw County.  Homes are still taking a long time to sell and there are still many foreclosures to chose from.

What I am seeing is that many homebuyers that are buying Metro Detroit real estate are either first time home buyers or relocation buyers or people coming out of a marital change (divorce).   So we basically have lost most of the buyers that normally make a “move up”   What I mean by that is that home owners are not selling their curent home and buying a bigger home.  More Metro Detroit home owners are staying put.  Though there are people that are being chosey and waiting for a great deal on a relocation home or a foreclosure.

There are homes selling.  I have had 4 buyers of mine buy a home this month.  So there are homes being bought and sold.

Russ Ravary

Here are some great song lyrics

Remember The Dream
by James Ingram

You have a choice
Your heart will know
You gotta look back sometime
To know where to go

You have a voice
Long as you live
It’s never too small
Whatever you got to give

When your life is low (hold on)
And you want to let go (be strong – hold on)

Remember the dream we had
When there was nothing else
Remember the light that shines
And find it in yourself
Remember the dream is yours
So let it guide your way
And keep it alive with you each day

Don’t ever say
You just don’t care
the chances you take
Will take you as far as you dar

Don’t be afraid
Hold your head high
There’s strength in your soul
You never know till you try

When your life is low (hold on)
And you want to let go (be strong — hold on)

You’re not alone .. somebody cares
(Hold on …be strong)
When you’re walkin’ the road
With those who been there
(You’re not alone)

Remember the dream is yours
So let it guide your way
And keep it alive with you each day.

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Posted in Market reports, Wayne County market reports

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