The Macomb County Michigan Real Estate Blog

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Macomb County Michigan Home Sales are Up in October 2011

Macomb County October 2011 real estate sales

Macomb County Michigan Home Sales are Up in October 2011

According to data just released from REALCOMP MLS listings are down but sales are up in Macomb County Michigan

Area # of On Market Listings   % Change # of Foreclosure Sales   % Change # of Non Foreclosures   % Change # of Total Sales   % Change
Month/Yr  Oct‐11  Oct‐10    Oct‐11  Oct‐10    Oct‐11  Oct‐10    Oct‐11  Oct‐10  
ALL MLS 30,147 36,351  ‐17.1% 2,021 1,935 4.40% 3,178 2,967 7.10% 5,199 4,902 6.10%
Macomb 3,939 4,887  ‐19.4% 324 319 1.60% 523 416 25.70% 847 735 15.20%
Metro Detroit 21,939 27,339  ‐19.8% 1,600 1,702  ‐6.0%  2,576 2,281 12.90% 4,176 3,983 4.80%

"This statistical information has been obtained from Realcomp, the REALTOR'S® MLS. Realcomp is Michigan's largest Multiple Listing Service. Although not guaranteed, these statistics are from data Realcomp believes to be reliable. This information is not to be reproduced, redistributed, or combined with data from other sources without expressed permission from Realcomp."

If you would like more detailed information about current sales in Metro Detroit Michigan, feel free to call or contact David Elya

BROOKVIEW REALTY

visit Brookview Realty

586-991-1222

3 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • November 21 2011 12:58PM

LED Holiday Lights: 6 Need-to-Know Tips from David Elya

Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

1 comment • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • November 10 2011 04:35PM

Average sales prices are up 43% in Macomb County over September 2010

Average sales prices are up 43% in Macomb County over 2010

Fresh data provided by MiRealsource MLS, reports that the average sales price is up over 43% from September 2010 levels.

View report

Bank owned real estate sales in Macomb County dropped to 29% from 38% in 2010.

Trend Analysis For Macomb County Residential Homes
Period  # Sold Private Private  # Sold  Bank/Gov Bank/Gov # Sold Lease Lease  AVG Sale Price Private  Avg Sale Price Bank/Gov AVG Sale Price All
Q3 2010 1,063 51% 795 38% 218 11 $110,276 $64,480 $92,427
Q3 2011 1,568 62% 719 29% 229 9% $109,875 $63,522 $94,662
                   
YTD Summary Totals
2009 3,378 38% 4,614 52% 842 10%      
2010 4,270 58% 3,283 31% 834 11%      

So are we at "the bottom"? I believe that if we aren't, we are pretty close. Now is a great time to buy in Macomb County. Property values on average are what they were back in 1995-1996. It is a great time to move into a larger, newer home. Or if your current home is too large, I can assist you in finding a smaller less costly property.

If you would like more detailed information in regards to the market value of your home in Macomb County Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

View the entire report

3 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • November 06 2011 10:09AM

Michigan Transfer Tax To Be Assessed Against Fannie Mae And Freddie Mac sales

In case you missed this news this week, I found this posted on the Michigan Association of REALTORS website.

Transfer Tax To Be Assessed Against Fannie Mae And Freddie Mac
10/25/2011

The Michigan Department of Treasury was asked by certain registers of deeds whether particular entities, such as Fannie Mae, were subject to the county and state real estate transfer tax.  On October 4, 2011, Treasury advised the Emmet County Register of Deeds that the answer was yes – Fannie Mae and Freddie Mac, as sellers of real estate in Michigan, must pay county and state transfer tax.  

Apparently, Fannie Mae and Freddie Mac had previously avoided paying both county and state transfer tax relying on an exemption in both those statutes for “written instruments which this state is prohibited from taxing under the constitution or statutes of the United States.”  In its letter, Treasury indicated that federal law generally prohibits the taxation of these entities by state and local governments.  However, Treasury has concluded that the real estate transfer tax is not a tax on real property, but instead is an excise tax on the instrument that is being recorded.  Thus, Treasury concludes that government sponsored entities, such as Fannie Mae and Freddie Mac are not exempt from real estate transfer tax. 

The law provides that a seller is responsible for payment of county and state transfer taxes.  However, a seller can contractually agree to have a buyer assume that obligation.  Generally, Fannie Mae and Freddie Mac use addendums which impose all liability for transfer tax on buyers.  Thus, in pending purchases for Fannie Mae and Freddie Mac, buyers will now need to deal with a new obligation, i.e., payment of county and state transfer tax as reflected on the HUD-1.  

Presently, there does not appear to be any viable theory for imposing liability on REALTORS® involved in the transaction where either there was a failure to pay the transfer tax or there is now transfer tax which must be paid by a buyer.  

Treasury’s October 4, 2011 letter is silent as to potential payment of transfer tax on properties sold by HUD.  However, there is a separate exemption to both state and county transfer tax for “a written instrument in which the grantor is the United States, this state, political subdivision or municipality of this state . . .”  HUD is obviously a part of the United States Government.  It is difficult to see how this exemption would not apply to it.  
0 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • November 01 2011 08:34PM

Shelby Township Michigan real estate residential market report for April 2009

Shelby Township Michigan real estate residential market report for April 2009

I have prepared a report of the home sales data in Shelby Township Michigan for the month of April  2009.

The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.

For the period of April 1, 2009 through April 30, 2009:

Total houses sold:   42

Total condos sold:  12

Average sales price for houses:  $169,009

Average sales price for condos: $78,642


If you would like more detailed information in regards to the market value of your home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

3 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • May 10 2009 09:19AM

Macomb Township Michigan real estate residential market report for April 2009

Macomb Township Michigan real estate residential market report for April 2009

I have prepared a report of the home sales data in Macomb Township Michigan for the month of April 2009.

The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.

For the period of April 1, 2009 through April 30, 2009:

Total homes sold:   78

Total condos sold:  17

Average sales price for homes:  $152,532

Average sales price for condos: $69,678


If you would like more detailed information in regards to the market value of your home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

2 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • May 10 2009 09:14AM

Macomb County Michigan real estate residential market report for April 2009

Macomb County Michigan real estate residential market report for April 2009

I have  prepared a report of the home sales data in Macomb County Michigan for the month of April 2009.

The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.

For the period of April 1, 2009 through April 30, 2009:

Total homes sold:   733

Total condos sold:  173

Average sales price for homes:  $81,510

Average sales price for condos: $49,766


If you would like more detailed information in regards to the market value of your home in Macomb County Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

0 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • May 10 2009 09:08AM

Bank sales make up 45% of Macomb County sales in 2008

Fresh data provided by MiRealsource MLS, reports that bank owned real estate sales accounted for a whopping 45% of all real estate sold in Macomb County Michigan in 2008. This compares to only 27% in 2007.

Bank sales in December 2008, accounted for 55% of all sales compared to 37% in 2007. Not surprising is the fact that leases are increasing as well. They make up 11% of all transactions.  As owners struggle to make ends meet, many are resorting to leasing their property. Some are successful, some still end up losing their property to foreclosure.

In 2008 the average sales price declined in Macomb County. The average sales price in December 2008 was $159,295, Compare that to December 2007 when the average sales price was $179,397.

To put these numbers into perspective, in April of 2005, the average sales price was $189,457. Bank sales only accounted for 8% of all sales. Leases were only 3% of all transactions.

So are we at "the bottom"? I believe that if we aren't, we are pretty close. Now is a great time to buy in Macomb County. Property values on average are what they were back in 1995-1996. It is a great time to move into a larger, newer home. Or if your current home is too large, I can assist you in finding a smaller less costly property.

If you would like more detailed information in regards to the market value of your home in Macomb County Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

View the entire report

 

0 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • January 14 2009 07:34AM

Macomb Township Michigan real estate residential market report for December 2008

Macomb Township Michigan real estate residential market report for December 2008

I have prepared a report of the home sales data in Macomb Township Michigan for the month of December 2008.

The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.

For the period of December 1, 2008 through December 31, 2008:

Total homes sold:   41

Total condos sold:  17

Average sales price for homes:  $162,331

Average sales price for condos: $73,712


If you would like more detailed information in regards to the market value of your home in Macomb Township Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

3 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • January 13 2009 08:51PM

Shelby Township Michigan real estate residential market report for December 2008

Shelby Township Michigan real estate residential market report for December 2008

I have prepared a report of the home sales data in Shelby Township Michigan for the month of December 2008.

The information below is gathered from Mirealsource Multiple Listing Service and represents those homes sold by participating real estate brokers and agents and does not include data from private sources.

For the period of December 1, 2008 through December 31, 2008:

Total houses sold:   42

Total condos sold:  15

Average sales price for houses:  $205,676

Average sales price for condos: $65,883


If you would like more detailed information in regards to the market value of your home in Shelby Township Michigan please don't hesitate to contact me either via phone or email.

www.LookForHomes.com

2 comments • David Elya ABR, e-PRO, GRI, SFR - Broker Owner • January 13 2009 08:46PM