I'm sure that everyone has heard the phrase "real estate is local" and it is very evident in our current market in Fenton, Linden and surrounding towns nearby. What we are seeing is homes are selling that have been on the market for sometime; and the number of new listings coming on the market has slowed considerably. This is a good sign; from the local buzz, this is a sign that our economy is coming up. Not so good for some of the other states that are feeling what we were experiencing months ago. This is what the media reports on, national trends, not local trends.
When Michigan was on top with foreclosures, states like California were doing great; now the tables have turned and we are feeling some recovery from the adjustment. The stimulus package just passed into law will help alot of people get back on track with their mortgages and hopefully foreclosures will vanish with the wind.