{"id":1752,"date":"2022-03-06T00:00:00","date_gmt":"2022-03-06T05:00:00","guid":{"rendered":"https:\/\/chrisbuyshomesstlseller11.carrot.com\/?p=1752"},"modified":"2025-02-15T15:29:10","modified_gmt":"2025-02-15T15:29:10","slug":"the-state-of-the-market-for-buyers-in-detroit","status":"publish","type":"post","link":"https:\/\/www.chrisbuyshomesdetroit.com\/blog\/the-state-of-the-market-for-buyers-in-detroit\/","title":{"rendered":"The State of the Market for Buyers in Detroit MI"},"content":{"rendered":"Is it still a buyer\u2019s market today in Detroit? As experts in the Detroit real estate market, we get asked this question a lot.\n\nThe answer isn&#8217;t as simple as yes or no.\n<h2>The State of the Market for Buyers in Detroit MI<\/h2>\n<h3>First off, it really depends on the property type and location.<\/h3>\nSingle-family homes in great locations that are priced well have been flying off the\u00a0shelves. There\u2019s a lot of demand in the market for certain areas, while others can\u00a0seem like ghost towns.\n\n<strong>Buyers are often looking for the same thing<\/strong> \u2013 good neighborhoods, access to\u00a0transportation, shopping, good schools, close to work, etc. Properties that deliver all\u00a0these are definitely a hot commodity. Sellers with a highly desirable property are in\u00a0control of the market.\n\n<strong>But for condos and townhouses<\/strong> \u2013 especially those a little off the beaten path, or with\u00a0some funky features \u2013 it can be quite a different story. Prices were down in certain\u00a0areas of Detroit, but seem to be rebounding as the rental market increases.\n\n<strong>Investment properties are in demand.<\/strong> The massive amounts of foreign cash flooding\u00a0in to invest in US real estate have impacted the Detroit market in unique ways.\n\nOverall, those people in a position to pay cash for properties have been picking up\u00a0the good deals in the marketplace.\n\nLots of sellers are trying out speculative prices just to see if anyone bites, but most\u00a0investors are walking away from deals that don\u2019t pencil out.\n\n<span style=\"text-decoration: underline\"><strong>Financing is still a major obstacle for buyers.<\/strong><\/span> Banks are being incredibly strict,\u00a0requiring lots of money down and even changing their terms at the last minute. It\u2019s\u00a0not uncommon for approved buyers to get their loans pulled right before closing\u00a0escrow, although it\u2019s getting better than it was just a couple of years ago.\n\nOverall the markets remain incredibly polarized \u2013 there is a lot of action at the very\u00a0top and the very bottom, with the biggest challenges in the middle.\n<h3>Sound confusing? It is. But We Can Help.<\/h3>\nThere\u2019s a lot of shakeup in the US economy still taking place, and the markets are\u00a0moving fast in lots of directions at once.\n\nWe&#8217;re investing in Detroit because we believe in the community and the people here.\n\nIf you need to sell a property near Detroit, we can help you.\n\nWe buy properties like yours from people who need to sell fast.\n<h3 style=\"text-align: center\">Give us a call anytime (313) 217-9851 or <a href=\"\/\" target=\"_blank\" rel=\"noopener noreferrer\">fill out the form\u00a0<\/a>\n<a href=\"\/\" target=\"_blank\" rel=\"noopener noreferrer\">over here today if you&#8217;re looking to sell a Detroit house fast!<\/a><\/h3>","protected":false},"excerpt":{"rendered":"<p>Is it still a buyer\u2019s market today in Detroit? As experts in the Detroit real estate market, we get asked this question a lot. The answer isn&#8217;t as simple as yes or no. The State of the Market for Buyers in Detroit MI First off, it really depends on the property type and location. Single-family [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[105],"tags":[],"class_list":["post-1752","post","type-post","status-publish","format-standard","hentry","category-local-insights"],"_links":{"self":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/comments?post=1752"}],"version-history":[{"count":1,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1752\/revisions"}],"predecessor-version":[{"id":18858,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/posts\/1752\/revisions\/18858"}],"wp:attachment":[{"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/media?parent=1752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/categories?post=1752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chrisbuyshomesdetroit.com\/wp-json\/wp\/v2\/tags?post=1752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}