[jeanniepep]

We bought ours in July, and EVERY one we looked at before we found our favorite has also been sold now. We're seeing "Sold" signs go up every day in Ferndale right now. No idea what people are paying, but the houses ARE selling.

[MI-IRISH]

Houses aren`t selling in Michigan ...
neither are lions tickets,does not mean i don't want to see them

[Smooth23]

I've noticed a LOT more SOLD signs on houses lately. Even a few houses that have been up for sale forever around my lake have new occupants.

[sike0000]

Houses are moving, but unfortunately it is slow. The problem is the banks. They are not willing to budge on the price of a foreclosed home. Eventually it goes to auction for even less. This keeps prices down. There are still credit issues as well.

Seller don't want to give up their equity, and buyers don't want to give up their cash.

We bought a forclosed home about a year and a half ago. We could have gotten a better deal had we waited. No regrets. But if you have noticed, there have been a lot of people on the boards asking if now is a good time to buy in MI. So plenty of fence sitters still waiting for the bottom.

[RomanGeneral]

I am seeing houses sit for over 8 months and no sale.I do know one that sold and it took like 2 years and few months,but that was back then.Its true that seller and banks are not budging.I am also firmly believing that even if there are buyers with all the current constraints,they do not want to buy any property in this state unless its a pretty profitable one.For example sellers in the city of Clawson are pushing with 150-160k,but that kind of price is 2003`s and the very peak of this state`s market.So we are not back to the 90`s prices yet,at least sellers aren`t.This is beyond me,i mean with no industry to speak of and the trickle effect continuing to its last leg,they must be fools.

[Sparrow_temp]

There might be some first-time buyers out there taking advantage of the Obama money and buying the foreclosures. If you have a secure job (is there such a thing in MI?), it's a great time to buy.

[canudigit]

Originally Posted by Sparrow_temp

There might be some first-time buyers out there taking advantage of the Obama money and buying the foreclosures. If you have a secure job (is there such a thing in MI?), it's a great time to buy.

Yeah, there actually are secure jobs here and millions and millions of us choose to stay here and actually enjoy living here. Hard to believe, right?

Considering how this economy has hit the entire country, it might be more appropriate to ask if there is such a thing as a secure job ANYWHERE right now. I know that when we lived out west earlier this year, things there were pretty dire too. And then there's California...

[jeanniepep]

My husband has a VERY secure job and I have 2 part-time jobs (by choice, because I enjoy them). I found my job(s) quite easily as soon as we moved, and he's been steadily moving up in the same company for about 7 years.

Hearing that is kinda like seeing a unicorn, right? ;-)

[canudigit]

Originally Posted by jeanniepep

my husband has a very secure job and i have 2 part-time jobs (by choice, because i enjoy them). I found my job(s) quite easily as soon as we moved, and he's been steadily moving up in the same company for about 7 years.

hearing that is kinda like seeing a unicorn, right? ;-)

LOL, good one, Jeannie!

[tryin2buy]

Houses that are priced well and according to recent comps are selling quickly (in today's market that means within about a month.) Many sellers are holding on to prices from 4 or 5 years ago and refuse to accept the reality of the value of their home today. Not only will those houses not sell, they help sell the competition.

LOTS of homes are selling right now, if yours isn't it's because it's either overpriced, has an undesirable characteristic (backs to a freeway, etc) or is in the over 300k market which just isn't moving much very quickly.