Milford Michigan Home Buying

Monday, March 26, 2007

Real Estate REAL slow in Milford for real estate

Despite the nice weather we've had the last two weekends the Milford market hasn't taken off like what we've experienced in previous years.

In the first-time buyer and move-up buyer markets there are about 213 homes on the market.

And in all of last year there were about 138 closed purchases in that market.

More than a year of inventory.

So the current inventory of homes priced from about $100K to $550K is more than a year's supply.

In the luxury home market (Prices about about $550K) we see there were about 10 homes that sold last year in Milford.

Now there are 50 luxury homes on the market here. (Many lots & custom builds.) So that is about 5 years worth of inventory.

It is certainly not a good time to sell your luxury home in Milford. On the other hand, it is a potentially great time to buy one. If, you have a real estate company on your side.


Tuesday, March 13, 2007

If you want a real buyer agent in Milford Michigan

As I was driving up Pontiac Trail to Milford last Friday I had an interesting thought. I think that our office might be the only major firm that provides buyer agency for Milford real estate buyers.

Don't get me wrong, there are plenty of real estate people who say "I can be your buyer agent", but what they really offer is designated buyer agency. That is a different animal.

If someone wants to tell you the difference it is really fairly simple:

In buyer agency the brokerage and everyone in the brokerage is on your side. Anything anybody knows about the seller or the property is shared with you.

In designated buyer agency only the individual licensee is on your side. Often the more experienced people in the office are representing sellers. Often the seller of the house you want. (In this case the company and all the supervisory brokers are acting as a dual agent, but that is another story.)

It bothers me that so many real estate agents misrepresent their role to consumers!


Tuesday, March 6, 2007

Brother-in-law built house

I had a brother-in-law build a house for his family in Milford about ten years ago.

He was a bit loony but he had a lot of money and it was about a 3,500 square foot home with lots of brick. He ended up selling it to move into Livingston County.

I often wonder if I will end up going through that house again someday and noticing his strange "quality" of work