Royal Oak, MI Real Estate News

By Jason Channell, The House Sleuth
(Diadem Property Inspections - Serving Southeast Michigan)
It may have been a 42 degree F day in Michigan, but the temperatures are always perfect at the Detroit Zoo's Butterfly House in Royal Oak. The Detroit Zoo is at I-696 and Woodward Avenue.      
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan September 2010 September 2010 median sale prices increased 14% from August 2010 & # of homes sold increased 25%.  Private owned median price increased 01% in September 2010 from August 2010.  Bank owned homes median price decreased 26% in September 2010 from August 2010. September 2010 median sale price increased 02% from September 09 & # homes sold decreased 08% in September 2010. Year ending September 2010 median sale price compared to year ending September 09 increased 03% and homes sold increased 18% year ending September 2010 compared to year ending September 2009. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable Active & Sold September 2010 503 listings: 72 Sold listings: Average List Price $143,484 Aver...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan August 2010 August 2010 median sale prices decreased 01% from July 2010 & # of homes sold remained relatively the same.  Private owned median price increased 03% in August 2010 from July 2010.  Bank owned homes median price increased13% in August 2010 from July 2010.  August 2010 median sale price decreased 26% from August 09 & # homes sold decreased 05% in August 2010. Year ending August 2010 median sale price compared to year ending August 09 stayed relatively the same and homes sold increased 20% year ending August 2010 compared to year ending August 2009. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable Active & Sold August 2010 506 listings: 54 Sold listings: Average List Price $149,628 Average Sold Price...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Previously held in Pontiac, A Favorite Summer Festival in Oakland County Michigan moved to downtown Royal Oak Michigan.  It is a Labor Day weekend where everyone can celebrate Art, Music, Cuisine and Humanity.  Held September 3-6, 2010 it is the 13th year for the Ford Arts, Beats & Eats.  Presented by Citizens Bank, the festival offered more than 200 performances on ten stages, a highly ranked Juried Fine Arts Show, local restaurants with some of the finest cuisine in metro Detroit and international, regional and local attractions that always make the city of Royal Oak the premier destination for any event. That is the general description of the event as promoted on the Arts, Beats & Eats website.  The day I attended was Sunday and we parked at a friend's home to avoid the parking and h...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan July 2010 July 2010 median sale prices decreased 26% from June 2010 & # of homes sold decreased 44%. Private owned median price decreased 14% in July 2010 from June 2010.  Bank owned homes median price decreased 6% in July 2010 from June 2010. July 2010 median sale price decreased 6% from July 09 & # homes sold increased 37% in July 2010. Year ending July 2010 median sale price compared to year ending July 09 stayed the same and homes sold increased 21% year ending July 2010 compared to year ending July 2009.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable Active & Sold July 2010 504 listings:   53 Sold listings:   Average List Price $152,715 Average Sold Price $118,710 Median List Price  $144,950 Median So...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan June 2010 June 2010 median sale prices decreased 1% from May 2010 & # of homes sold increased 7%. Private owned median price decreased 2% in June 2010 from May 2010.  Bank owned homes median price increased 18% in June 2010 from May 2010. June 2010 median sale price increased 9% from June 09 & # homes sold increased 8% in June 2010. Yr ending June 2010 median sale price compared to yr ending June 09 decreased 4%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable   Active & Sold June 2010 536 listings:   95 Sold listings:   Average List Price $152,099 Average Sold Price $139,015 Median List Price  $144,900 Median Sold Price  $133,900 Highest List Price $599,000 Highest Sold Price $350,000 Lowest List Price $19,...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis Homes Sold Royal Oak Michigan May 2010   May 2010 median sale prices increased 11% from April 2010 & # of homes sold increased 5%. Private owned median price increased 12% in May 2010 from Apr. 2010.  Bank owned homes median price decreased 40% in May 2010 from Apr. 2010. May 2010 median sale price increased 14% from May 09 & # homes sold increased 25% in May 2010. Yr ending May 2010 median sale price compared to yr ending May 09 decreased 9%.  Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable Active & Sold May 2010 535 listings:   88 Sold listings:   Average List Price $156,292 Average Sold Price $141,493 Median List Price  $145,000 Median Sold Price  $135,750 Highest List Price $599,000 Highest Sold Price $470,000 Lowest List Price...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan April 2010 April 2010 median sale prices increased 7% from Mar. 2010 & # of homes sold increased 25%. Private owned median price decreased 5% in April 2010 from Mar. 2010.  Bank owned homes median price increased 10% in April 2010 from March 2010. April 2010 median sale price increased 21% from April 09 & # homes sold increased 30% April 2010. Yr ending April 2010 median sale price compared to yr ending April 09 decreased 13%. Active & Sold April 2010 512 listings:   84 Sold listings:   Average List Price $148,296 Average Sold Price $122,268 Median List Price $139,950 Median Sold Price $120,500 Highest List Price $599,000 Highest Sold Price $240,000 Lowest List Price $25,000 Lowest Sold Price $35,611 Avg. Days On Market 142 Avg. Days On Market 110 ...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Market Analysis & Statistics for Royal Oak Michigan March 2010 March 2010 median sale prices increased 10% from Feb. 2010 & # of homes sold increased 6%. Private owned median price increased 4% in March 2010 from Feb. 2010.  Bank owned homes median price increased 23% in March 2010 from February 2010. March 2010 median sale price decreased 1% from March 09 & # homes sold increased 10% March 2010. Yr ending March 2010 median sale price compared to yr. ending March 09 decreased 18%.  In the Month to Month comparisons for the past year (further below), the market is still fluctuating - however the gap from this is narrowing consistently over the past four months. Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable.   Active & Sold March 2010 506 listin...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan February 2010 February 2010 median sale prices decreased 9% from January 2010 & # of homes sold increased 24%. Private owned median price increased 2% in Feb. 2010 from Jan. 2010.  Bank owned homes median price decreased 21% in February 2010 from January 2010.  February 2010 median sale price increased 5% from a year ago February 2009 & # homes sold increased 44% in Feb. 2010. Yr ending Feb. 2010 median sale price compared to yr ending Feb. 09 decreased 20%.  In the Year to date summary (farther below), there has been a steady decline in the median price comparisons each month (2010) when compared to the year ending 2009 of the previous month since September.  While prices are still declining, it indicates that the gap is narrowing – possibly movin...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Royal Oak: Homes Sold January 1, 2009 – December 31, 2009 These statistics compare month-to-month median price of homes sold from January 1, 2009 to December 31, 2009 in Royal Oak Michigan. The statistics also compare each month to the previous month in the same year and the same month in 2008.  The year ending figures on the third line compare median price of homes sold year ending January 2009 compared to year ending January 2008 and similarly each month thereafter.  The market has been fluctuating considerably from month to month.  While the median prices are sill falling in Royal Oak, it is moving in the right direction from the highest point the beginning of the year and in July 2009.  Overall, the bad news is that median prices declined the most in 2009 most likely due to the m...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Market Analysis and Statistics for Royal Oak Michigan January 2010 January 2010 median sale prices remained relatively the same from Dec. 09 & # of homes sold decreased 36%. Private owned median price decreased 6% in Jan. 10 from Dec. 09.  Bank owned homes median price increased 9% in January 2010 from December 09.  January 2010 median sale price increased 3% from Jan. 09 & # increased 20% Jan. 2010   Yr ending Jan. 10 median sale price compared to yr ending Jan. 09 decreased 21%; Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold January 2010 456 listings:   45 Sold listings:   Median List Price  $145,000 Median Sold Price  $110,000 Avg. Days On Market 159 Avg. Days On Market 81 Private Owned 422 listings Private Owned 32 Sold  Medi...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Market Analysis for Royal Oak Michigan December 2009 December 09 median sale prices decreased 13% from Nov. 09 & # of homes sold decreased 10%. Private owned median price decreased 10% in Dec. 09 from Nov. 09 with a 29% decrease in # of homes sold in Dec..  Bank owned homes median price increased marginally in December 09 from November 09.  Dec. 2009 median sale price decreased 5% from Dec. 08 & # homes increased 40% in Dec. 2009   Yr ending Dec. 09 median sale price compared to yr ending Dec. 08 decreased 23%; Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold December 2009 465 listings:   70 Sold listings:   Median List Price  $139,900 Median Sold Price  $109,650 Avg. Days On Market 162 Avg. Days On Market 112 Private Owned 413 lis...
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Just closed on my 21st short sale of the year.  This was a Royal Oak townhome that we sold for 40% of what my client owed.  My client had been out of work for 9 months and could not find any new employment.  She was burning through her savings and was scared.  The borrower could not get a loan modification because she had no income and soon she was going to have to walk from her home.  This was not in her nature for she was a spiritual person who does not like to walk away from her problems.  Her mother found me though reading my blog on short sales.  I must admit, when I first spoke to her, I was not going to take the listing.  The condo was going to be very hard to sell since the units were unwarrantable.  This means that the buyer would have to pay cash. This would lower the sale pri...
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By Virginia Tatseos
(Stage-Show-Sell)
One of the nice things about having the business a little slow this week is the chance to play with different programs. This home was re-staged in December 2009 after the buyer couldn't close on the home. I thought this would be a good opportunity to try the Photosynth program again. I'm looking for opinions on the program and it's potential in marketing homes for sale. Royal Oak staged by Stage-Show-Sell, LLC My AR family I need your opinion
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Market Analysis for Royal Oak Michigan November 2009 Nov. 09 median sale prices increased 5% from Oct. 09 & # of homes sold decreased 8%. Private owned median price increased 6% in Nov.. 09 from Oct. 09.  Bank owned homes median price increased 20% in November 09 from October 09.  Nov. 09 median sale price decreased 9% from Nov. 08 & # homes increased 51% in Nov. 2009 from November 2008   Yr ending Nov. 09 median sale price compared to yr ending Nov. 08 decreased 23%; Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold November 2009 518 listings:   78 Sold listings:   Median List Price  $146,950 Median Sold Price  $126,500 Avg. Days On Market 145 Avg. Days On Market 109 Private Owned 478 listings Private Owned 63 Sold  Median List Pric...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
  Market Analysis for Royal Oak Michigan October 2009 Oct. 09 median sale prices increased 7% from Sept. 09 & # of homes sold increased 8%. Private owned median price increased 5% in Oct.. 09 from Sept. 09.  Bank owned homes median price increased 5.5% in October 09 from September 09.  Oct. 09 median sale price decreased 14% from Oct. 08 & # homes sold increased 19%   Yr ending Oct. 09 median sale price compared to yr ending Oct. 08 decreased 24%; Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold October 2009 547 listings:   85 Sold listings:   Median List Price  $142,900 Median Sold Price  $120,000 Avg. Days On Market 143 Avg. Days On Market 131 Private Owned 492 listings Private Owned 62 Sold  Median List Price  $149,900 Median Sold...
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 This is a Royal Oak Short Sale that I listed and closed.  My seller needed to sell.  He was stuck in a predator loan with a very high monthly payment.  The balance of this loan was so high; I don't know how the borrowers could have qualified.  The loan was a no doc, stated income "liar loan".  The fees on the refinance were so high it was criminal. The seller could not afford the loan in the first place and with the economic downturn he was certain to be foreclosed on.  The Seller and Buyer were both thrilled by  my services.   Without a Short Sale, the seller would have been foreclosed on.  This would result in years of debt and probable litigation.   PROFILE: Location:  Downtown, Royal Oak, MI                           Type: Duplex 1930's, great location. Condition:  Need of some rep...
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By Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com
(Real Estate One)
I met with a Clawson / Royal Oak / Troy first time home buyer for the first time tonight.  We had spoken on the phone on Tuesday on what they wanted.  They wanted to buy a home in Warren, Clawson, Troy in the $80,000 - $120,000 range.  One of their priorities was a good school system.  The husband wanted a lower price house and the wife wanted a bigger home. I set up some homes for them to see on the lower end of the price range.  I met with the husband tonight at the first house.  I had six homes set up to see.  After showing him the first house we got to talking. I learned that their priorities we school system.  They wanted either the Troy school system or the Clawson school system.  The kids were in the Troy school system but going there thru Grandma's home address.  I asked him wha...
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By Cathy Tishhouse, Royal Oak Real Estate
(RE/MAX Showcase Homes)
Royal Oak Michigan Market Analysis Homes Sold for September 2009 Sept 09 median sale prices decreased 15% from August 09 & # of homes sold increased 14%. Private owned median price decreased 11% in Sept. 09 from August 09.  Bank owned homes median price stayed relatively the same in September 09 from August 09.  Sept. 09 median sale price decreased 14% from Sept. 08 & # homes increased 15% in 09 Yr ending Sept. 09 median sale price compared to yr ending Sept. 08 decreased 25%; Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold September 2009 553 listings:   78 Sold listings:   Median List Price  $149,900 Median Sold Price  $111,250 Avg. Days On Market 145 Avg. Days On Market 110 Private Owned 509 listings Private Owned 54 Sold  Median...
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