Market Analysis for Homes Sold in Berkley MI August 2009 August 09 median sale prices increased 21% from July 09 & # of homes sold decreased 58%. Private owned median prices increased 8% in August 09 from July 09 & # of homes sold decreased 48%. Bank owned homes median price increased 42% in August 09 from July 09.  August 09 median sale price decreased 14% from August 08 & 58% decrease in # homes sold.   Yr ending Aug 2009 median sale price compared to yr ending Aug 08 decreased 21% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold August 2009 169 listings:   15 Sold listings:   Median List Price  $129,900 Median Sold Price  $115,000 Avg. Days On Market 147 Avg. Days On Market 103 Private Owned 152 listings Private Owned 12 Sold  M... 09/24/2009

Market Analysis for Homes Sold in Berkley MI July 2009 July 09 median sale prices decreased 17% from June 09 & # of homes sold increased 47%. Private owned median prices decreased 4% in July 09 from June 09 & # of homes sold increased 39%. Bank owned homes median price decreased 22% in July 09 from June 09.  July 09 median sale price decreased 40% from July 08 & 44% increase in # homes sold.   Yr ending July 2009 median sale price compared to yr ending July 08 decreased 14% Statistics rounded to nearest % -compiled from RealComp II data believed to be reliable. Active & Sold July 2009 190 listings:   36 Sold listings:   Median List Price  $124,900 Median Sold Price  $91,000 Avg. Days On Market 138 Avg. Days On Market 84 Private Owned 163 listings Private Owned 23 Sold  Median List Pric... 09/24/2009

  The following is a monthly market analysis for Berkley Michigan Real Estate.  It compares only residential homes sold in May 2009 with April 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Berkley Market Analysis of Homes Sold also compares year ending May 2008 to May 2009.  To exclude leases in data, minimum sale price used was $5,000. Market Analysis for Homes Sold in Berkley MI June 2009 June 09 median sale prices increased 29% from May 09 & # of homes sold increased 32%. Private owned median prices rem... 07/14/2009

  The following is a monthly market analysis for Berkley Michigan Real Estate.  It compares only residential homes sold in May 2009 with April 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Berkley Market Analysis of Homes Sold also compares year ending May 2008 to May 2009.  To exclude leases in data, minimum sale price used was $5,000. Market Analysis for Homes Sold in Berkley MI May 2009 May 09 median sale prices decreased 27% from April 09 & # of homes sold decreased 46%. Private owned median price decr... 07/14/2009

  With two great events in Oakland County Michigan, I split my time between the Berkley Michigan Art Bash and the Royal Oak Clay Glass & Metal Show.  There were around 65 artists at the 8th Annual Art Bash in downtown Berkley and my favorite part of the art fair were two budding artists at the “spin art” booth.  This is the type of activity that always attracted me at similar fairs as a younger person and I probably would rather have been spinning that shooting video.  However these two girls captured my interest with their creativity and persistence in getting just the right colors.   Even though the “budding young artists” caught most of my attention, I also enjoyed the chimes made of silverware, the pet dinner plates and the music. . . I did manage to pass up the candy-roasted cashew... 06/20/2009

  The following is a monthly market analysis for Berkley Michigan Real Estate.  It compares only residential homes sold in April 2009 with March 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Berkley Market Analysis of Homes Sold also compares year ending April 2008 to April. 2009.  To exclude leases in data, minimum sale price used was $5,000. Market Analysis for Homes Sold in Berkley MI April 2009 April 09 median sale prices decreased 2% from March 09 & similar # of homes sold. Private owned median price ... 05/15/2009

The following is a monthly market analysis for Berkley Michigan.  It compares only residential homes sold in March 2009 with Feb. 2009 to determine the # of homes sold for the month and the increase or decrease in median sold price.  It shows all homes sold then private owned vs. Bank Owned/HUD.  In the latter part of 2008, Realtors were required to categorize ownership status so figures are not accurate for bank owned in earlier months and not calculated.  Berkley Market Analysis also compares First Quarter 2009 to 2008 and year ending March 2008 to March. 2009.  To exclude leases in data, minimum sale price used was $5,000. Market Analysis March. 09 median sale prices increased 25% from Feb. 09 & a 44% increase in # of homes sold. Private owned median price decreased 13% March 09 from... 04/09/2009

The following is a monthly market analysis for Berkley Michigan.  It compares only residential homes sold in Feb. 2009 with Jan. 2009 to determine the # of homes sold for the month and the increase/decrease in average sold price.  It also distinguishes how many homes were recorded to be Bank Owned/HUD. as opposed to private owned.   First figures include private, bank owned and short sales.  In the latter part of 2008, Realtors were required to categorize ownership status so figures do not truly reflect the actual number of bank owned Feb. 2008 so bank owned is not calculated.  This Berkley Market Analysis also compares February YTD 08 to 09.  To insure that most leases were not included in data, minimum sale price used was $3,000. Market Analysis Feb. 09 median sale price decreased 32%... 03/15/2009

   Reverse Mortgage Fact Sheet 1. Definition: A reverse mortgage is a unique financial tool that enables homeowners ages 62 and over to tap into their home's equity, receiving either a monthly income, lump sum of cash or a line of credit. There are no income or credit qualifications and there is no repayment until the homeowner permanently leaves the home. The borrower retains full ownership of the property. 2. Qualifications: Applicant(s) must be at least 62 years of age and must own their home free and clear or nearly free and clear - in many cases borrowers use the reverse mortgage to pay off existing liens or mortgages, which eliminates their monthly loan payments. Borrowers must also live in their home as their primary residence. Mobile homes have specific requirements that must be... 08/31/2008

"How is the market doing" and "what is my home worth right now" and "can I afford to sell"--these are all common questions foremost in most seller's minds today.  In an attempt to identify the current market status, here are statistics for Berkley for a six month period from 2/1/2008 to 7/31/2008.  Also there is a comparison from the same period one year ago.  The statistics are based on a home with a minimum of 1000 sq. ft., a basement, a garage (any size), at least 3 bedrooms and minimum one bath.  While this will not tell anyone what their home is actually worth since it does not account for extra baths, individual updates of mechanicals and interiors, this will give an idea of the overall picture.  If you would like a free comparative market analysis on your home, click here. The av... 08/14/2008