Will the Housing Market Maintain Its Momentum? | MyKCM

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

“The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer…

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If you live anywhere near Fenton, Michigan you most likely know or have been told by someone about how Downtown Fenton has become a desination for Food, Entertainment, Shopping, and general business. 

In the early 2000's Fenton, Michigan was already put on the map with the popular eatery, The Laundry.  Ahead of it's time in the area The Laundry was grabbing patrons attention from all of the state and country for their unique atmosphere and food.  It as not long after the same group opened Crust and now other establishments that have been part of the fast growing commercial real estate sector in Fenton. 

Fenton has seen well known business owners from southeast Michigan now join the buzz buying, renovating, and opening hot spots like The Fenton…

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The State of Michigan is a thriving place, home to many successful industries including aerospace and military equipment manufacturing, copper and ore mining, tourism and Christmas tree farming, to name a few. When you talk about some of the best places to live in Michigan, you would generally evaluate them on the basis of crime levels, education levels, unemployment rates, population density, commute time, median income and median home values. While there are many popular places in Michigan, the city of Fenton has shown a steady increase in home values.

Fenton is a small city located about 70 miles Northwest of Detroit. It is part of Genesee County. The city has a population of around 12,000 people. More than 95% of the population is Caucasian…

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The month of April 2018 has some significant changes in the housing market for Genesee County, Michigan, including cities like Fenton, Linden, Holly, and Grand Blanc.  The largest percentage drop that was recorded in Genesee county was the months supply of inventory of homes for sale coming in at -46.2% compared to 2017 supply.  This drastic drop of in months supply of homes for sale from 3.9 to 2.1 shows that the market continues to be in favor of home sellers.   In comarision to Genesee County, the City of Fenton saw similar results with the months supply down 46.9% and the average sales price of homes sold in Fenton climbing 11.5% year over year from $172,980 to $192.281.  

Click Here to see the Detailed Local Market Update Report for Genesee…

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Today the federal reserve announced that it will be raising the federal fund rates .25% from 1.5% to 1.75%.  The question is how will this affect you if you are buying a home or selling a home.  Well, if you are a lucky home buyer that already locked in your interest rate with a mortgage lender you have nothing to worry about.  But, if you are home shopping now and have not secured a loan and interest rate, you will most likely be affected.  This is not a dramatic increase and if you do the math of $200,000 at 4.5% vs 4.75% the payment change is only $30 per month.  Now if you are looking for a larger mortgage let's say $750,000, you are going to see a payment increase of $112 per month using those same example rates.  

Take a minute and watch the…

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If you have been searching for homes for sale in Howell, Michigan you may have just found your next dream home.  5596 Kristin Drive in Howell, MI just hit the market at $449,000 and offers over 4,000 square feet of living space, 4 Bedrooms, 5 Bathrooms and is sitting on a lot that is nearly a full acre in size.  

The real estate market in Howell, Michigan has shown major signs of continued growth and this home is an example of what has been selling fast.  5596 kristin Drive was built in 2004 and offers 4,059 square feet of living space.  You will find yourself in a very open floor plan with many upgrades.  The spacious chef's kitchen offers a large island, high-end appliances, and an incredible fireplace with flat sreen tv above it.  

5596 Kristin Drive, Howell, MI

The master…

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The real estate market in Fenton, Michigan continued the downward trend of available homes on the market versus 2017 with only 8 new listings hitting the market which was 38.5% less than 2017.  The overall strength shows to be very strong with the median sales price rising over 21% versus 2017 and the percent of list price received falling 2.5% higher year over year.  These numbers show that anyone looking to sell their home in the city of Fenton should be expecting great results and if you were considering selling, now would be a great time. 

Click HERE to see the full detailed report for the City of Fenton Real Estate Market Statistics for January 2018 in PDF format.

The real estate market in Fenton Township, Michigan showed an upward trend of…

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When people get married, the last thing they plan for is a divorce. Most couples begin their married life with a happy and positive outlook. While many married couples do end up being happy, there are others who are not so lucky. Divorce often becomes inevitable for them, and the reality of alimony, child custody, property division, etc. hits them when this happens.

Many married couples own a house together. When they are married, there is no issue about ownership, but when a couple splits up, property division can become challenging. Consulting a real estate agent can be a good idea in such cases as they have the necessary skills and the expertise to help you sell the house in question. This is especially true for couples whose marital home is one…

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During the month of November in Genesee County the residential market actually saw a decrease in new listings.  Year over year 2017 was down from 414 new listings in 2016 to 387 new listings in 2017 for a change of -6.5%.  This decrease in new listings for the month of November brought the year to date from 6,643 in 2017 to 6,409 in 2017 which is a change of -3.5%.  

Pending sales however for the month were up 8.6% to 405 pending home sale versus 373 in 2016.  This brought the year to date pending sales to 5,113 for the year which is slightly down from 5,069 during 2016.  Closed home sale saw a nice increase for the month up from 409 in 2016 to 425 in 2017 for a 3.9% increase.  This increase still leave the number of closed home sale down 2.8% for the year…

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School has gone back, the holidays are around the corner, and people are either considering listing their home while inventory remains significantly low, or they have upped their dedication to looking for a new family home.

Whichever side of the fence you may be on, it has never been a better time to buy or sell in the Michigan area.

In fact, those people listing their homes near Fenton, MI, while there is indeed low inventory, are still getting great market value. Essentially, this is because demand is pretty high compared to the number of available homes for sale.

What’s more, if you are looking to expand your investment portfolio, there is no time like right now. Whether you want to grab a foreclosure for a bargain or buy and revamp an older…

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