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Steve Meyers is a Real Estate Agent/Realtor with RE/MAX Metropolitan in Shelby TWP and a member of the RE/MAX Hall of Fame. (Photo provided by Steve Myers)
Q: Our house needs a new roof. The roofing contractor told me I could choose between regular 3-tab shingles or three-dimensional shingles for an additional fee. We plan to sell it in a few years. The price difference is about $600. Does it matter?
A: This question has come up frequently over the years. In my opinion, if your budget can handle the additional expense, buy dimensional shingles (also known as architectural). From what we’ve heard from industry experts, it appears to be much better than regular shingles. Three-dimensional shingles last longer than standard three-tab shingles, which is a good selling point. By today’s standards, three-tab shingles don’t look new, even if they are new. Also, keep in mind that shingle manufacturers do not offer full warranties on their products unless it is a single layer of new shingle. It needs to be peeled off (the second and third layers are no longer needed).
Q: I’m thinking of selling my house and moving to an apartment. Should I try to sell my house in December and January, or should I wait until spring?
A: Just as Christmas comes around this time every year, so does this question. My answer: Yes, you can now sell it safely. There are numbers to back this up. We looked at MLS (Multiple Listing Service) sales for Macomb and Oakland counties. In December and January last year, 3,480 sales were completed. This figure does not include sales from new construction contractors. Who said homes can’t sell this time of year?
Market Latest Information
Here are October market updates for the Macomb and Oakland County housing markets (home and condo sales). In Macomb County, the average sales price increased by almost 5% for the month, and in Oakland County, the average sales price increased by more than 2%. , the same way. Macomb County’s market inventory decreased by more than 38%, and Oakland County’s market inventory decreased by more than 29%. Macomb County’s average days on market was 25 days, and Oakland County’s average days on market was 27 days. Macomb County’s closed sales were down about 19%, and Oakland County’s closed sales were down about 15%. Closed sales continue to decline as a direct result of continued inventory shortages. Demand remains high. (All comparisons are monthly and yearly.)
According to the long-standing historical definition by the National Association of Realtors, which has been around since 1908, a buyer’s market is when there is more than seven months’ worth of inventory on the market. A balanced market between buyers and sellers is when there is six months’ worth of inventory. A seller’s market is when the supply of inventory is less than 5 months’ worth. Inventory continues to be low. Michigan’s inventory in October was 2.3 months’ supply. Macomb County’s inventory had a 1.7-month supply, and Oakland County’s inventory had a 2-month supply. As you can see, it’s not a buyer’s market by definition.
Steve Meyers is a Realtor/Realtor with RE/MAX Metropolitan in Shelby Twp. He is also a member of the RE/MAX Hall of Fame. If you have any questions, please contact us at 586-997-5480 or Steve@MeyersRealtor.com. You can also visit his website at his AnswersToRealEstateQuestions.com.
See more at Auckland Press