All Forum Posts by: Jayvelyn Carbonel

The U.S. real estate market seems unstoppable as home prices across the country continue to rise. But basing on the recent data, is it safe to say that we are entering a buyer's market this year?

When the market is unpredictable like it has been for the past 12 months or so, predicting demand is difficult. And there are several factors to consider, the high cost of living caused by high inflation rates and high interest rates and other more.

"If you're thinking about selling your home, this is absolutely the time to do it," a licensed real estate agent mentioned. Despite the high mortgage interest rates, he believes now, and most of 2024, will still be a sellers' market.

Sellers continue to dominate today's market due to tight inventory. Since there are fewer homes available than buyers, each home for sale becomes a hot commodity rather than being a good value. This year appears to be a seller's market unless inventory rises significantly.

Do you agree with this?

Hi Jonathan. You might consider the Detroit Market. 
Have you heard that Detroit stood out as an unexpected frontrunner, registering the highest year-over-year home price growth among the metro areas analyzed in the report and surpassing Miami for the first time in 16 months. Dr. Selma Hepp explained to CNBC that Detroit, with an appreciation of 8.7% as of November 2023, was catching up after trailing in home price growth during the pandemic. However, there’s more to the story than just this catch-up phase.

If you wanted to know more about the Detroit market, feel free to reach out.

Detroit, in particular, stood out as an unexpected frontrunner, registering the highest year-over-year home price growth among the metro areas analyzed in the report and surpassing Miami for the first time in 16 months. Dr. Selma Hepp explained to CNBC that Detroit, with an appreciation of 8.7% as of November 2023, was catching up after trailing in home price growth during the pandemic. However, there’s more to the story than just this catch-up phase.

Detroit has transformed into a metro area, gaining popularity as an affordable destination for higher-tier housing. Overcoming its previous reputation as a city in decline, Detroit is now attracting individuals with larger budgets because their money can stretch a bit further in the city. The historic neighborhoods in Detroit offer attractive housing options that, while expensive for the area, are considered well-priced for the available features and quality.

What can you say about this?

Well, you might consider Detroit, Michigan. It doesn't need fancy introduction but there's a lot of cheap and great properties in Detroit to choose from. And also there's a lot of reason as to why you should invest in Detroit. 

One of the great things about Michigan is that it has some stunning areas that are also quite affordable. A recent study examining the most attractive and cost-effective cities across the United States has identified a Michigan town as among them. This is a winning combination that can’t be beaten!

Can you guess that City?

Experts are currently discussing the real estate market, but they don’t all agree on what’s going to happen. In September, the typical price of a home that was sold went up by 5.18% compared to last year, rising from $239,200 to $251,600. However, the question is: Is Michigan still a seller’s market? Let’s dig into the details.

Home sellers in Michigan can benefit from the current high prices. Listing on MLS can lead to faster sales and a 17.5% higher selling price compared to off-MLS homes, potentially resulting in thousands of dollars in extra proceeds when selling through platforms like Houzeo.

The latest real estate statistics in Michigan mirror the national pattern of strong demand and limited supply. In Michigan, both home sales and property prices went up, even in the face of a sluggish market in 2023.

Thank you for this.

 Hi there. I can suggest Strategy Properties, AL Bazzy who is the Property Manager there is super accommodating and would love to answer all of your questions.

Here is his Phone number. You can give him a call anytime: 734-224-5454

I am torn with the difference of the two. Anyone who wants to do some explaining here?

Real estate investment has been a lucrative venture for many people. Deciding where to invest in real estate can be a daunting task. Detroit is an undervalued real estate investment destination that is often overlooked. This city in Michigan is slowly making a comeback, and investors are starting to take notice. 

Detroit may not be the first city that comes to mind when considering real estate investment, but it has great potential. With low prices, high demand for rental properties, strong potential for appreciation, tax incentives, and renovation opportunities, investors should consider Detroit to diversify their real estate portfolio. However, it’s essential to consider the challenges of investing in Detroit, such as high crime rates and poverty, before deciding. Overall, Detroit has much potential for real estate investors willing to take a calculated risk.