While most media outlets report nothing but doom and gloom about Michigan’s economy, one local real estate office has some good news it wants to trumpet.
Closings at Oxford’s John Burt Realty/GMAC Real Estate (15 E. Burdick St.) for the months of January and February were up 81 percent over last year during that same period.
‘We were all pretty impressed and kind of surprised,? said owner John Burt. ‘I think things are on an upswing. I think people are realizing it’s a good time to buy. Prices are down and people can afford to buy.?
The actual number of closings at John Burt Realty increased from 21 back in January/February 2007 to 38 over the last two months.
‘Our phones are ringing more,? said Burt, who noted listings published in the Ad-Vertiser have contributed to this surge in activity. ‘It seems like we’re getting more inquiries about houses now than before.?
Right now, the realty office has 42 sales pending, meaning there’s an offer on the property, but the deal hasn’t been closed.
‘We’ve haven’t see that many pending sales since probably 2005,? Burt said.
Burt believes this area will recover from the economic slump before others because it was hit early on.
‘I think we’re going to pull out of it quicker than everybody because we’ve been in it longer,? he said.