Detroit Real Estate

Metro Detroit real estate market is still hot.  It is not unusual for homes that are in good condition and fairly priced to sell in a day or two.  It is not unusual for Metro Detroit homes to have multiple offers.  Right now (September 2011 ) it is not unusual for homes to sell over list price and for more than what the comps say.

Quick note - a comp is recent sold homes that have sold in the last six months that are similar in size and location.

So if you are looking to buy or sell don't be surprised if the home sells quickly or there are multiple offers.  If I was a home buyer and a new home comes on the market and I really wanted it.  I definitely wouldn't offer less than 5% of list price.  I may even offer full list price or more if I really wanted it.  Or if the comps supported it.

This is what is happening in the Metro Detroit real estate market.  It is a hot market so if you are home buyer don't listen to the national news.  They are talking about different areas of the country.

If you want that home be prepared to bid for it.