Here’s why there’s no reason to worry about an impending market crash.

  

Will the Real Estate Market Crash?

I have had a ton of questions along these lines in recent weeks, so I wanted to take a few minutes to take a good look at 3 reasons that it could, and 3 reasons why I don't foresee this happening.

Google has had a significant spike in the number of searches for "When will the real estate market crash," with a 2,400% increase over the last 30 days. This is definitely a topic on a lot of people's minds. There has also been a 350% increase in searches for "How much above asking price should I bid on a home". Most people seem to be very cognizant of the current real estate market, but I believe there is a certain amount of fear of the…

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Are we finally seeing the market turn? Is the bubble bursting or is this the new norm? Let's take a look at some facts and stats in your April Real Estate Market Report and see what's been happening and likely to happen moving forward.

  

We had an outstanding April with the first two weeks taking off like a rocket and seeing a jump of 20-25% increase of new properties hitting the market. In the second half we did slow down just a touch. In March we saw roughly 12,500 new homes come to market. In April we were looking to exceed 15,000 new homes but ended up at 13,517. So a slight increase of 1,098 new homes in comparison to last month, with the largest increase being in the $250-$300K and $500-$600K brackets.

For homes sold, we had 9,438…

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Selling your home in one day means leaving a lot of money on the table.

  

Recently, I’ve seen agents and sellers alike sharing stories about how they were able to sell a home within a day. Well, there’s a problem here: If you’re going with a buyer within the first day, you’re probably leaving a lot of money on the table. With so much demand, it pays to let multiple offers roll in, choose the best one, or create a counteroffer. You simply can’t do that in a single day, and today I’ll be explaining why.

For your convenience, I’ve included timestamps for today’s video topic. Feel free to navigate to the section(s) you’re most interested in viewing:

0:05—Introduction on why selling in one day is the wrong route to take

0:51—The average…

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I typically get this question about once per month, but I've asked about it twice this past weekend, so I thought it would be great to address it in a video.

Before we get to that, just a couple of quick updates on the market - over the past 30 days we have seen the number of homes on the market jump almost 50%. We aren't quite back to a balanced market yet and are still experiencing a strong seller's market for the time being, but BUYERS this is your time to act if you have lost out on a couple of homes and/or are struggling to find the right home for you and your family. Interest rates are remaining low, so if you have been thinking about making a move, act now to take advantage of these rates while they are still available!

On with the…

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March 2021 Market Update - Are there REALLY no homes for sale? Is the market getting ever crazier, or starting to cool off?

  

March was an extremely exciting month in the real estate market and very much so here at The Perna Team. 

We've been hearing over and over that there are no homes on the market, but we have some great data around this to share. Taking a look back at the numbers in the Metro Detroit and Ann Arbor area, in February of this year we saw 4,573 new homes go on the market. In March that number grew to 6,160 new homes, providing a 26% increase in the number of properties on the market. Looking back at the inventory from year over year, we were down in 2021, but only by 487 homes. Also, we do anticipate seeing the number of…

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Here’s how we’ve been helping scores of families buy homes in this market.

  

It’s the news you’ve been hearing and the pain you’ve been feeling for quite some time now: This extreme seller’s market makes things impossible for buyers. Less experienced agents will parrot this narrative, but here at The Perna Team, we’re not obsessing over the difficulties of the market. That’s because, in this past month alone, we’ve helped dozens of families secure the homes they want. Many of our winning offers weren’t even priced the highest; all of these satisfied buyers followed our eight-point strategy for standing out amongst the competition. 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel…

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One of the common thoughts we have been hearing from our clients is that they want to capitalize on their current increase in home value, but do not want to overpay for their next home if they were to sell today.

 

This is a very understandable statement, as home prices have shot up in the past months due to the lack of available inventory on the market. But to fully understand what the actual price of that next home may be, we have to look at a couple of important variables that come into play.

 

Working with an agent or team who provides expert negotiating skills can not only net the best price on a home sale, but on a purchase as well. Price is an important term when considering an offer on a home, but as we have been seeing in…

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Detroit Best Neighborhoods

As Michigan's largest city, Detroit's metro area is home to over four million people. Detroit has long been recognized by its nickname "Motor City" in acknowledgment of its ties to the American automobile.

Automobile manufacturing has brought many jobs to the area and has helped establish some of the city's earliest neighborhoods. The industry continues to leave its mark on Detroit and its surrounding communities today. Detroit is also considered a regional culture hub, giving rise to the Motown sound, which continues to impact the music industry.

Living in a master-planned community within commuting distance of Detroit offers residents the best of both worlds. Those moving to the area and interested in this lifestyle should consider the…

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Best Parks in Detroit

The best parks can be the heart and soul of a city, as they provide a place for residents and visitors alike to gather and enjoy the great outdoors. Additionally, studies have shown that homes situated close to a park are generally worth eight to 20 percent more than homes that are not. Fortunately, Detroit is home to many great parks, including the following six:

Beacon Park

Beacon Park Amenities

  • Dining options like food trucks and an on-site restaurant
  • Interactive art installations
  • Farmer's market
  • Child-friendly activites
  • Regular concerts

Address: Beacon Park, 1901 Grand River Ave, Detroit, MI 48226

Opened on July 20, 2017, by DTE Energy, Beacon Park is one of Detroit's newest parks. It features a large,…

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Popular Home Builders in Detroit

Deciding to build a dream home, whether it's in an expensive neighborhood or an affordable neighborhood, is a big step, and it can be challenging for people to decide on a construction company. The following list includes some top custom home builders in the Detroit, Michigan, area to help people find a contractor who fits their unique needs and home design visions.

Arteva Homes

The Arteva story began in 1946 at H.J. Oldenkamp, one of the largest national distributors of luxury home building products. The late Arthur Szliter joined H.J. Oldenkamp in 1962 and became the owner and president for nearly 30 years. In 1991, he left the company to form Arteva Homes with his son Brian Szliter and colleague Vito Terracciano. With a combined 50 years of…

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