Genesee County real estate sales are sluggish so far in 2014 - ABC 12 – WJRT – Flint, MI

Genesee County real estate sales are sluggish so far in 2014

Posted: Updated:
GENESEE COUNTY (WJRT) - (05/20/14) - While many areas of the economy appear to be recovering, real estate in some parts of Mid-Michigan is lagging. Sales remain soft in Genesee County. It's a mixed bag of numbers coming from the Flint Area Association of Realtors.

Higher priced homes aren't moving very fast, but selling prices in the middle range are climbing. Many real estate agents have lots to do right now, but some of that is making up for lost time.

"It's really, really busy right now because January and February just were so cold, so frozen. I think it will go good through the end of June and then I think it will drop off like it usually does," said Lucy Ham, real estate broker from Flushing.
 
Real estate agents may be busy, but closings are hard to come by. Realtors say residential sales in April were down 20 percent compared to April 2013.

427 homes were sold last month, but prices are up nearly 13 percent compared to last year. The average price in April was just under $100,000.

Even with higher prices, the number of homes on the market is down 6 percent from last year.

So what's going on with the market? Lenders are being more selective about who they approve for a mortgage.

"Only about 25 percent of the people that call us about a home can get pre-approved," Ham said.

Mortgage interest rates are around 4 or 5 percent, but they could be climbing and that could be scaring away some customers.

"People get pre-approved for a payment, so as the interest rate goes up, that means the buyer has to buy a lesser home," Ham said.

If you've ever considered having a custom home built, now may be the time.

"If you want to buy land, it's really cheap right now," Ham said.

Consider those in the Grand Blanc area that are trying to sell home worth more than $350,000. At the rate they're going now, it may take five years for them to sell.
  • Local NewsMore>>

  • Ag-stravaganza raises money for Midland kids

    Ag-stravaganza raises money for Midland kids

    Sunday, September 14 2014 11:21 PM EDT2014-09-15 03:21:48 GMT
    (09/14/14) - It was a unique way to raise money for Mid-Michigan kids.Local country artists sang their hearts out at the "Midland Fair Music Ag-stravaganza".It's the 6th year for the event.Money raised through the $5 admission price is going to the "Youth Achievement Fund". That helps make sure local kids learn the important of agriculture in today's society."To these two and to other families in the community, we need the support. Because raising animals and learning how to live off the land...
    (09/14/14) - It was a unique way to raise money for Mid-Michigan kids.Local country artists sang their hearts out at the "Midland Fair Music Ag-stravaganza".It's the 6th year for the event.Money raised through the $5 admission price is going to the "Youth Achievement Fund". That helps make sure local kids learn the important of agriculture in today's society."To these two and to other families in the community, we need the support. Because raising animals and learning how to live off the land...
  • Death, accident figures to be released Monday related to GM ignition switch flaw

    Death, accident figures to be released Monday related to GM ignition switch flaw

    Sunday, September 14 2014 10:03 PM EDT2014-09-15 02:03:20 GMT
    (09/14/14) - An announcement is expected Monday related to General Motors ignition switch flaw.Attorney Ken Feinberg, who is overseeing the fund to compensate victims, is expected to release how many people have been killed or injured.GM has publicly linked 13 deaths and 54 accidents to the flaw.But the National Highway Traffic Safety Administration have said they believe the numbers to be larger.Families of those who died because of the flaw are eligible to apply for money from the compensat...
    (09/14/14) - An announcement is expected Monday related to General Motors ignition switch flaw.Attorney Ken Feinberg, who is overseeing the fund to compensate victims, is expected to release how many people have been killed or injured.GM has publicly linked 13 deaths and 54 accidents to the flaw.But the National Highway Traffic Safety Administration have said they believe the numbers to be larger.Families of those who died because of the flaw are eligible to apply for money from the compensat...
  • Community members gather for 2nd Annual "Stop the Violence" event

    Community members gather for 2nd Annual "Stop the Violence" event

    Sunday, September 14 2014 7:56 PM EDT2014-09-14 23:56:19 GMT
    (9/14/14) - Roughly 400-500 community members made their way out for the Second Annual "Stop the Violence" event in Flint Sunday. Beginning with a parade that started at East Pierson Road and culminating at Berston Field House, rally-goers were met with a slew of vendors, activities and food that was put on by the Community Take-Back Organization. And with violent crime down in the city this year, the new theme attached to the event this time around was a "Celebration of Life".
    (9/14/14) - Roughly 400-500 community members made their way out for the Second Annual "Stop the Violence" event in Flint Sunday. Beginning with a parade that started at East Pierson Road and culminating at Berston Field House, rally-goers were met with a slew of vendors, activities and food that was put on by the Community Take-Back Organization. And with violent crime down in the city this year, the new theme attached to the event this time around was a "Celebration of Life".
Powered by WorldNow

abc12.com

ABC12 Main Station
810-233-3130

Mailing Address:
2302 Lapeer Road
Flint, Michigan 48503

Powered by 

WorldNow
All content © Copyright 2000 - 2014 WorldNow and WJRT. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.