The real estate market is seeing an amazing turnaround, and whether you’re buying or selling a home, the real estate market is making a comeback.
With mortgage rates at near-record lows, buyers are realizing that now is the time to buy. Sellers are seeing multiple offers on their homes, due to low inventory levels — which enables sellers to either downsize or move into a larger home.
The low inventory is a large result of the 46 percent drop in foreclosures and short sales from last year. While there was a modest increase of 16 percent for days on market, the inventory shortage continues to drive the median sales prices up 23 percent from last year. It continues to be a seller’s market, with low inventory, but sellers’ patience and the drop in foreclosures has also contributed to the increase in median sales prices.
To help Hour Media determine the 2014 Real Estate All-Stars, we turned to MiRealSource-Multiple Listing Service (MLS) of Troy. MiRealSource is the largest broker-owned MLS in Michigan; they collect, distribute, and syndicate real estate data for their members.
This real estate data is made available to consumers through their REALTOR® member of MiRealSource. Their software syndicates to many websites, such as www.realtor.com.
MiRealSource’s Web-based software offered to REALTOR® members is used for collecting, searching, and distributing listings for brokers and agents. The MiRealSource MLS system was rated No. 1 in both the 2013 and 2014 national surveys.
MiRealSource is a member of the Great Lakes Repository (GLR), which allows REALTORS® of participating Multiple Listing Services to share data and work together throughout the state. The GLR benefits sellers by giving their home more exposure to other agents, while also providing more inventory for buyers.
MiRealSource invited 500 agents with home sales in the top 5 percent in the metro Detroit area from January 1, 2013, through November 30, 2013, to participate. Those agents who granted their permission to be included in the 2014 Real Estate All-Star list are included.
The REALTORS® listed in this feature deserve recognition for their hard work and dedication when servicing their buyers and sellers. While not all deserving agents are listed, we believe this is a helpful starting point for a home buyer or seller.
When a trusted professional with a proven track record for success is secured, home buyers and sellers can be assured that they are working with one of today’s top industry leaders.