New Homes For Sale Report For Birmingham Michigan September
Posted by Rick Merlini on Fri, Sep 24, 2010 @ 09:46 AM
The Birmingham housing market seems to be on the rise. With lower numbers of foreclosures hitting the market, the home prices have been on the rise for the last 3 months. If fact, the last 4 forecloses we have tried to purchase, all have had multiple offers on them. One had 9 different offers all within a 2 day period.
The facts of Buying A Home in Birmingham have still hold true.
- You are going to pay for location.
- You are going to pay more for a home that is closer to town
- You are going to more for the homes between Lincoln and Oak and between Woodard and Southfield
- There are some old houses in Birmingham that need too much work.
- Older homes equipment and structure and becoming out dated and worn out . With energy bills rising , a lot of homes have single pane window and furnace and A/C units that are out dated. Factor in the cost of higher energy bills when purchasing those homes.
- If you have to do more than paint, flooring and new cabinets and or bathrooms, stay away from the home. Once you get into replacing heating , electrical and plumbing system , you better be getting such a great deal on the home so to compensate you for the grief you are about to incur.
- If the home has structural issues, get a professional involved before you make an offer. I just purchase a home for $104,000. I thought all it needed was $50,000 in work. I thought it would sell for around $190,000. It ended up cost $ 65,000 in work and only sold for $185,000. I tell you this story because even with 32 years of experience, you never know what you real have until you open up the walls.
Selling price trends are as follows:
- New Construction homes are selling on average of $185 a square foot But again depending in the area. Some more and some less
- New Homes that have been completely remodel seem to be bring $140 a square foot But again depending in the area. Some more and some less
- Homes built within the last 5 to 7 years that just need cosmetic updates seem to be bring $120 a square foot But again depending in the area. Some more and some less
- The older homes that are out dated and need a lot of work pricing is all over the board. Just again depends on location and cost of repairs.
Remember, great deals are found in the small details. It is those small details that will make the difference. So don’t forget them. Good luck with your search for a new home. I hope this article will help you.
Good luck building your new home or buying a new home. If I can help you in any way or answer any question you may have about
- building a new home
- buying a new house
- Selling A Home
Or any new construction question you may have, please feel free to contact me at rick@livewellcustomhomes.com. Or you can visit my blog at http://askrick.livewellcustomhomes.com/ to read other topics I have written about.
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