A significant number of residential real estate transactions are being consummated at a price higher than the original asking price.
Currently there are fewer homeowners looking to sell than there are people looking to buy a new home. Demand is greater than supply. A big factor is first time homebuyers are not burdened with the task of selling their existing home.
Below is a short video of what the Federal Reserve Bank of St. Louis said earlier this year about the country’s economy and expected rebound from the virus.
Per the Federal Reserve executive states the pandemic is a health crisis, not necessarily a financial crisis. Once the health crisis is past, the economy will be back on a solid track. He further states this will happen in the third quarter of this year. If correct, now is a good time lock down an offer.
“Si quaeris peninsulam amoenam, circumspice.” Translating to English, “If you seek a pleasant peninsula, look about you.” This is the state of Michigan’s motto in Latin. It could also be the motto of the buyer of Mathew Stafford’s home for sale on Orchard Lake.” To view more pictures click on above image
During these difficult times, these Detroit area restaurants and small businesses have found creative ways to generate business and create revenue for their employees. Please help them out by frequenting their business and/or making a donation. D’Amato’s Italian Restaurant and Iron Horse, Royal Oak: Closed due to corona virus and is selling t-shirts, 100% of…