Houghton Lake Real Estate Market Report
Happy New Year to you and I hope you have a safe and prosperous year ahead. The 2009 Houghton Lake real estate market was a year of continued foreclosures with loads of property available to interested buyer’s throughout the Houghton Lake area. Sales were steady with seller’s discounting prices to come into line with market values being soft. Some have called the current market conditions a major correction, others have called it giving away your property. I see at some place in the middle. The good times of no end to property appreciation could not be sustained indefinitely. As seller’s some are waiting the soft economic times out and others are jumping in with both feet and selling for discounted prices. The great thing about America is, that you can decide what works best for you and your situation. Remember, do not become frightened by the changing times. Rather, use these times to find out how you can capitalize your position in the the biggest bear real estate market in decades!
Buyer’s interested in homes for sale in Houghton Lake are in the best position they have been in for decades! If you have been in the market looking at homes for sale in the past year, now is the right time. The days ahead will have the potential for golden opportunities. The perfect storm as been brewing for financially responsible people. Here are the basic ingredients for your successful purchase in 2010!
* Continued large inventory of listings which will continue to drive down prices.
* The “Shadow” inventory of Bank Owned Properties (REOs) that has not been put on the market yet. This inventory has the potential to be approximately 25% of the total foreclosure market!
* Additional buyer purchasing power with the lowest interest rates in decades.
* It makes sense to invest your cash in real estate when bank CDs and money markets are at ugly low returns.
* Real estate taxes are starting to drop after 2-3 years of sales prices forcing assessors to adjust assessments.
In summary, don’t wait to long. This type of opportunity may not be offered again in your life time. For detailed consultation on northern Michigan real estate and specifically, Houghton Lake real estate opportunities contact me today at 989.240.0970.
Happy New Year!
2540 W Pinewood Dr
Roscommon, MI 48653
989.775.5767 Fax
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