'Plateau' in Property Values Hints at Mend in Macomb Housing Market

The weather is slowly turning and warmer temperatures mean more than just budding flowers and baseball.

It also means open house season for listings all over Macomb Township.

Soon, even more real estate signs will dot the landscape of many neighborhoods, and potential buyers will peruse properties, looking for the perfect place to call home.

The question, however, is what is the outlook for Macomb Township?

The decline of property values and a dwindling real estate market over the past few years has been well documented. That said, does this hold true here in Macomb Township? 

Can residents looking to sell their homes find success?

Local real estate expert Brian Powers said yes, as long as sellers have a realistic understanding of the market conditions.

“Home sellers in Macomb Township who are realistic in terms of the current market value of their home, and who hire an agent with a comprehensive marketing plan to give their home the exposure it needs to sell can certainly be successful in selling their home, even in this market,” Powers said. “Macomb Township homes are selling, on average, in less than 60 days, so there is a strong buyer demand.”

In fact, Powers added that in desirable areas such as Macomb Township, the listing inventory has been depleted significantly in the past few years, meaning there simply aren’t enough attractive listings to keep up with the buyer demand.

“It’s not uncommon for a listing that’s priced properly and marketed properly in Macomb Township to have multiple offers from buyers in the first seven to 10 days,” Powers said. 

Macomb Township resident, Lisa Gooley, and her husband, Adam, recently listed their north Macomb Township home with a realtor, and received two offers on the property within the first two weeks of listing it.

“I think the hardest thing for us was coming to terms with a realistic market value for the house,” Lisa Gooley said. “When we bought the house eight years ago we expected to see a return on our investment if we ever had to sell down the line. That’s just not the case nowadays, not with the market like it is. We actually have a listing price that’s almost 20 percent less than what we paid for the house originally. That’s a tough pill to swallow, but if you want to sell the home, then you have to know the market. You have to be realistic.”

More sellers, according to mirealsource.com, are adhering to the Gooley’s philosophy, and heeding the advice of experts such as Powers.

According to fourth-quarter statistics compiled by the service, private homes sales have nearly quadrupled in Macomb County since the first quarter of 2009, when only 394 homes were sold. In the final quarter of 2010, almost 1,200 private sale deals closed.

All these numbers point to a possible bottoming out of the market in Macomb Township, said Macomb Township assessor Phyllis Sharbo.

“I really believe that we’ve hit a plateau,” Sharbo said in regard to property values. “This year (2011), there was, on residential properties in Macomb Township, a decrease of just under 5 percent in property values. Last year (2010), that number was about 12 percent. In 2012, I would expect little or no decrease at all. I think we’re seeing a trend here and it’s a trend in the right direction for property owners.”

The 12 percent decline was the worst slide the township had ever experienced, Sharbo said.

“It was terrible,” Sharbo said. “When you think Macomb Township, for about a 10-year period, was the fastest growing community in the state, and even in the country. It was really booming for a while.”

The downward trend was nationwide and well documented, but the leveling off of property values is a very encouraging sign to those looking to sell their home this coming spring and summer.

“There are a lot of sales in Macomb Township that seem to be right in line with the 2011 values,” Sharbo said. 

Getting that sale is not simply a stroke of luck either, said local home stager Marianne Sweet of Home Sweet Home Staging.

“The first thing is to give your house some curb appeal,” Sweet said. “Get out there and clean up the front yard, get rid of all traces of winter. Paint the front door if it needs it, put in some flowers. You need to get people to notice the house while driving by, first of all.”

The next step for sellers is a simple and inexpensive way to set your home apart from others on the market, Sweet said.

“Make the foyer as inviting and clean as possible,” Sweet said. “Make the whole house clean, bright and inviting. Give it a warm feeling. And most importantly, get rid of any smells. Buyers pick up on that right away. Don’t use perfumes or plug-ins either, just make it smell clean and fresh. That’s very important.”

Each Thursday, Macomb Patch features five homes in Macomb Township that are currently on the market. Search "" for recent posts.