The Michigan Real Estate Roller Coaster!

Many people are experiencing the ride of their lives right now when it comes to real estate located in Michigan. Less then 10 years ago, the residents of Michigan were basking in the glory of appreciation. Real Estate Brokerages could not even put the sign on the lawn before the house was sold. Offers were coming in over the asking price and most of the time sellers had more then one offer to choose from. Wow, times have changed. I get asked everyday how is the real estate market is doing. To me, it is obvious! You can not drive down a residential street without seeing multiple signs stating FOR SALE. In the commercial districts, large amounts of spaces for lease, abandoned buildings waiting for a new tenant or business to occupy them. Michigan is third in the country when in comes to foreclosures.

So how is the real estate market doing? Great! As 2007 approaches, I can not imagine a better time for people looking to purchase real estate. Buyers now a days have so many options to choose from. These are the days that money is made! Investors, first time home buyers, or just people looking to upgrade to a larger home, can now get homes at bargain prices. Before buyers were paying top dollar prices for a house that needed work, now they can get all the upgrades that they are looking for and still receive them for a reasonable price. Finished basement, new kitchen, large backyard, no problem! The houses are out there and sellers are willing to make deals. Take advantage of this market. Michigan is a roller coaster, and we will bounce back to the good old days of 10-20% appreciation sometime soon. So if you are thinking about moving or investing, now is the time.

One of my first clients ever told me to "Buy Low, Sell High..." Here is our opportunity to buy low. Take advantage of it.


Darren Audia, GRI
Broker / President
Audia Group
Real Estate Solutions