November 20, 2008 All markets are different. During the next few years, some housing markets will turn around faster than others. How do you know when your particular market has reached its bottom? If you wait until others pick over the great deals, you'll miss the bottom. Keep a track of how many properties are listed from month to month. Once you start to see a reduction in inventory then that may mean that buyers are starting to buy. There could be two reasons whey inventory is reducing – overpriced homes may be taken off the market and sales volume could be picking up. You can find out this information from your local real estate agent. Keep reading national and local newspapers. If your local media reporters are now starting to interview experts in your market and asking questions like, “Have we reached the bottom?” then that might be a sign that there may be a shift. Talk to your friends and co-workers. How are they feeling about your local economy and housing prices? Are they more optimistic now than they were 3 months ago, or even last month? Consumer confidence will be a big part in the housing market turning around. Be on the lookout for mortgage interest rates stabilizing and mortgage companies start to ease lending restrictions. One of the biggest indicators is when prices have stopped dropping. The secret is to buy before they start to inch back up again! I’m not suggesting that you wait till the absolute bottom of your market to buy. You have to look at a home as a place to live, not an investment. Only you can determine what an affordable monthly payment is relative to the value of the home you are purchasing. There are individual homes for sale that can be bought at the bottom of your market, even if homes in general have not reached that mark. Talk to a trusted real estate agent – we can help! This is an inactive RePage. If you are Dorothy Griesman and wish to reactivate this page, please visit www.RePagesOnline.com for instructions.

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Local Information for Commerce, MI

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ZIP Codes for Commerce, Michigan	48382  48390
Area Code for Commerce, Michigan	248
Time zone for Commerce, Michigan	EST

Other Area Cities:   Commerce, MI  Pontiac, MI  Clarkston, MI  Bloomfield Hills, MI  Highland Park, MI  Keego Harbor, MI  Milford, MI  Sylvan Lake, MI  Union Lake, MI  Walled Lake, MI  Waterford, MI  Troy, MI 

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Commerce Township is a charter township in Oakland County, Michigan, United States. The population was 34,764 at the 2000 census. The terrain is rolling hills but there are large expanses of flat land on which farms and, more recently, subdivisions are built. The Huron River runs mostly north-south through the township. Commerce was formerly a weekend and summer resort for Detroiters because of the area's small inland lakes and peaceful seclusion, but due to recent development the cottages are now all permanent homes. There has been a sharp increase in population in the last few years, mostly on or near the several lakes and golf courses. Much of Proud Lake State Recreation Area is within the township. The northern terminus of M-5 is in Commerce. The busy highway would have continued north to I-75, but because of the area's high property value and the many lakes that dot the landscape such a project would have been far too costly. -- Source: Wikipedia.com