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January 2014

Found 5 blog entries for January 2014.

Quick Summary Based on ALL MLS Sales   ·  The median sale price in 2013 increased from $80,079 to $109,838 – up 37.2% ·  Average Days On-Market (DOM) decreased 17 days, from 82 to 65. ·  The on-market inventory declined by 7.7% from 20,641 in 2012 to 19,044 in 2013. ·  The total number of units sold increased from 69,170 to 70,085 – up 1.3
  • In 2012 38% of the units sold were bank owned
  • In 2013 27% of the units sold were bank owned
Oakland County Summary   ·  The median sale price in 2013 increased from $129,658 to $165,514 – up 27.7% ·  Average Days On-Market (DOM) decreased 23 days, from 82 to 59. ·  The on-market inventory declined by 7.8% from 4,615 in 2012 to 4,255 in 2013. ·  The total number of units…
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Mortgage Market Update

 After a solid week of slipping, mortgage interest rates have come back up today:


mortgage market trends

  • 30 year fixed-rates jumped to 4.53% (+0.03).
  • 15 year fixed-rates jumped 3.53% (+0.03).
  • FHA 30 year fixed rates stayed at 4.25%.
  • Jumbo 30 Year Fixed rates jumped to 4.40% (+0.02)
  • 5/1 Year (ARM) rates stayed at 3.25%.

Fed tapering (discussed in our last post: Why are mortgage interest rates on the rise?) was on market-watcher’s lips after the recent jobs report showed data far below projections. However, the FOMC branch of the Fed indicated that one weak report will mean little in the long run and tapering will not relent unless further data in the coming weeks suggests more serious economic downturn.

Yesterday’s MBA

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North American Auto Show

north-american-auto-show-corvetteExperience the next generation of transportation at The North American International Auto Show 2014. The Motor City's Largest Industry event which takes center stage for from January 13th through the 26th at Cobo Hall. After the auto show, you can enjoy Dinner at one of the many fine Restaurants Detroit has to offer with Pegasus being one of my all time favorites. 

 

Detroit Sports

Friday January 17, 2014 @ 7:30 p.m Stop in at the Palace of Auburn Hills and Cheer on The Detroit Pistons as they take on the Utah Jazz.

Saturday January 18, 2014 @ 7:00 p.m. Take a trip to Joe Louis Area and watch as the Los Angeles Kings at Detroit Red Wings 

All Star Comedy Jam!

Sunday January 19, 2014 at 8:00 p.m. Enjoy a night of

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Top Tips for Refinancing Your Mortgage

refinance tipsImprove your credit score

The ideal scores are 720 or greater. Definitely take a look at your credit reports from Equifax, TransUnion and Experian to negate any errors before submitting your loan application. A credit specialist can work with you, if necessary. You want a good, low refi rate!

 Find the right lender

We can never stress this enough: you do NOT need to pursue a refinance with the lender who financed the home purchase. In fact, if for whatever reason you did not like your experience with your lender, a refi is your chance to build a relationship with someone new. Get recommendations from friends, family, internet reviews – do not rely on searching for the lowest possible refi rates.

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