NOVI, MI (May 5, 2017) – People this year who are moving into Fox Run retirement community are selling their former homes quickly and at unprecedented levels, so much so that in the past 60 days there have been eight properties by incoming residents that sold in an average of just four days.
This year is projected to be a hot year for Michigan home sales. An increase in home buyers has resulted from millennials turning away from renting and being at a point where they can begin to buy. Moreover, home prices have steadily risen in the past 12 months and are anticipated to continue to rise. Consequently, home prices are now at near pre-recession marks.
"The economy has improved greatly in Michigan, so there are many buyers ready and not enough homes available," said Personal Moving Consultant Kristine Kluge. "We have actually seen houses by incoming residents sell in just one day."
Six of the homes sold for their asking price. Two of the homes sold for over listing price, with at least 3 being cash sales, she said.
"This is the best time since the recession of 2008 for people to get the most money for their homes and move into Fox Run and enjoy worry-free retirement," said Kluge.
Kluge personally visited all of the new residents and connected them with realtors though Erickson Realty and Moving Services who know their specific neighborhoods and who have previously sold homes in them. She also provided other resources to the new residents to help them prepare their former homes for market.
The new residents moved into Fox Run's one-bedroom and two-bedroom apartments. They came from across the Detroit metropolitan area.
Bill and Lavon McCauley sold their former home in Sterling Heights in one day. They had lived in their four-bedroom, three-bath home for 30 years. They moved two months ago into a one-bedroom apartment in Fox Run's new Twin Pines residential building.
"Fox Run has a great reputation and it does a wonderful job of providing services for its residents," said Bill, a group medical practice consultant. Fox Run's locale also brought them closer to their two sons and five grandchildren, according to Lavon.
"We are now enjoying our life together at Fox Run," said Bill. He said he and Lavon, his wife of 57 years, were somewhat surprised by how quickly their former home sold.
The real estate market is expected to be good through the summer selling season, according to Kluge. "It is definitely a 'seller's market," she said.