Still a quiet market in Plymouth

Currently there are about 343 homes on the market in the Plymouth area priced under about $550,000.

In all of 2006 there were about 309 closings in the same area.

This means that there is over a year of inventory currently. This time in 2002 we might have seen 4 months of inventory.

On the luxury home side we currently see about 26 homes on the market in Plymouth.

In 2006 there were a total of about 15 homes that sold priced above $550,000. That means that at best about half the Plymouth luxury homes on the market now will still be on the market a year from now.

This is exactly the type of information you want to have to make a good home buying decision.

You also want a company on your side!

Don't be in such a hurry to buy a home!

When I meet with young home buyers I often get the feeling that they want to look at a few homes and have the process over. This concerns me a bit because buying a home takes some serious thought.

It kind of feels like they just watched the Home & Garden channel and they think that home buyers make a buying decision by looking at just three homes.

That is not a good way to buy.

Here is an article from one of our other blog sites: http://ann-arbor-homes.com/being-a-smart-buyer/

Buyers using less down to buy

We help a lot of buyers. But our buyers tend to be a little more financially conservative. (And they often have really good credit also.)

So I was a bit surprised to read that the median down payment for first time buyers in CA went from about $25,000 in 2005 to just $10,000 in 2006. Even for repeat buyers the numbers were down. Going from $119,000 in 2005 to just about $100,000 in 2006.

Certainly we are a society who lives on credit!