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Old 11-07-2016, 06:28 AM
 
3 posts, read 1,587 times
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Is it a good time to sell a house in south lyon? do we foresee a decline in house prices for used houses with so much of new construction going on which will last atleast till 5-6 years.
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Old 11-07-2016, 06:47 AM
 
Location: Grosse Ile Michigan
27,749 posts, read 65,567,547 times
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If I could answer that, I would be a billionaire running for president. (Actually, I would be so wealthy, I could just buy a president and have them do what I wanted).


However as of today, most of what I see is infill, furnishing unfinished subs and a few small new subs. I am not aware of any large scale (i.e. 200 homes all built at once) in South Lyon (but that does not mean there aren't any). Still the impact on used house demand from a resurgence of the big subs is not clear. You never know whether it will flood the market, or create a growth spurt and even more demand. Best bet try Ouiji.
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Old 11-07-2016, 07:34 AM
 
2,173 posts, read 2,815,166 times
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Quote:
Originally Posted by Johnvk1234 View Post
Is it a good time to sell a house in south lyon? do we foresee a decline in house prices for used houses with so much of new construction going on which will last atleast till 5-6 years.
If you want/need to move and believe you can get a price that you feel is acceptable, then it is a good time to sell. Generally, the housing market in Metro Detroit is steady and showing positive growth. In the more desirable suburbs, like South Lyon, that growth is accelerated a bit.

If you're a speculator, best of luck to you. You may find better odds at one of the Detroit casinos.
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Old 11-11-2016, 03:56 PM
 
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Yes - if your house is priced right, it will sell.

We bought a pre-existing house in Lyon because it was cheaper than Novi or Northville and we didn't want to build.
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Old 11-15-2016, 07:21 AM
 
Location: Grand Blanc
16 posts, read 13,074 times
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Hi There. I'm a realtor that works in the South Lyon Area. There is a fair amount of new construction going on which is a good thing. However, the market has shifted a bit, and for pre-existing sales, the demand isn't as strong now as it has been for the past year and a half.

Part of that is the general slow down going into the holidays, but we're expecting more of an even market next year instead of the strong sellers' market we've experienced the last couple years. What that means is that buyers are going to expect you to work with them a little more than in recent months, either with negotiating a lower sale price or accepting seller concessions.

From what I've seen, no one is forecasting a crash like a few years ago, but it seems like May-July of this summer was the absolute peak of the market and we're coming into the downturn. Like someone previously mentioned if I knew how long or how much the downturn would be, I'd be sitting on a beach in the Caribbean with an icy beverage in my hand and sleeping on a bed of money

So TLR It's still a great time to sell but the market has cooled off from where it was
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Old 11-15-2016, 11:58 AM
 
2,173 posts, read 2,815,166 times
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Quote:
Originally Posted by JStockton View Post
Hi There. I'm a realtor that works in the South Lyon Area. There is a fair amount of new construction going on which is a good thing. However, the market has shifted a bit, and for pre-existing sales, the demand isn't as strong now as it has been for the past year and a half.

Part of that is the general slow down going into the holidays, but we're expecting more of an even market next year instead of the strong sellers' market we've experienced the last couple years. What that means is that buyers are going to expect you to work with them a little more than in recent months, either with negotiating a lower sale price or accepting seller concessions.

From what I've seen, no one is forecasting a crash like a few years ago, but it seems like May-July of this summer was the absolute peak of the market and we're coming into the downturn. Like someone previously mentioned if I knew how long or how much the downturn would be, I'd be sitting on a beach in the Caribbean with an icy beverage in my hand and sleeping on a bed of money

So TLR It's still a great time to sell but the market has cooled off from where it was
Do you think this trend applies to the entire metro market? Just curious.
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