Nick Casteel & Find New Keys Real Estate Group

03/27/2024

If you were thinking about buying a house in 1972, but decided to wait until interest rates came down...you would have continued renting and waiting for 22 years! 😱

In that time...
😅 A home purchased in 1972 would have quadrupled in value
🫠 A mortgage from 1972 would be 73% paid off
😔 And a 22 year wait only saved 3 quarters of a % in interest!

In 1972 an average rate was 7.54%, and there wasn't a drop until 1993! And even then it was brief and only dropped to 6.74%. Yikes!

What's crazy is that in that 22 year wait, the rates crept up to 16% in the 80s! The average home value in ’72 was $27k, and by ’93 it was $126k.

Anyone is welcome to play the waiting game, but a person who waited in 1972 clearly missed out.

History proves that home values in the long run will continue to increase in value, and history also proves that interest rates should not stop you from becoming a homeowner. Refinancing is an option if interest rates go down. But you can't go back in time and buy a home at a 1972 price.

- Nick

10/26/2023

03/16/2023

Living and working in the Metro Detroit area, it's clear that I love this city. But this beautiful location in Metro Detroit is truly one of my favorites.

A US Historic Landmark, it opened in 1929 and consists of nearly 250 acres! Fun fact - it's not only the largest museum complex in the nation but the largest museum complex in the WORLD!

It was founded by an auto tycoon and consists of thousands of artifacts and highlights of our beautiful city's history.

Who knows where I am?

-Nick

P.S. If you made it this far, you deserve a clue -- it's also known as the Henry Ford.

02/21/2023

10/07/2022

New Listing! 20465 Hunt Club Dr, Harper Woods
- 3 bedrooms, 1 bath
- Newly installed vinyl plank flooring
- Updated windows
- Newer furnace
- Spacious living room and family room great for entertaining
- and much more

This home is priced at $135,000.

- Nick

P.S. If you have any questions about this listing (or other homes for sale here in the greater Harper Woods area), feel free to call (248) 773-3314.

10/03/2022

Back in 1904, this beautiful attraction opened its doors...it's actually the oldest and longest operating of its kind. It's perfect to bring any visiting friends and family for a trip on the weekends.

In fact, this Detroit attraction was once considered the third largest in the world! 

The best part -- you can park and visit for free, or make a donation to support their continued growth.

Have you checked out this Detroit staple?

- Nick
Find New Keys, Real Estate Group

09/23/2022

A lot of folks are kickin' tires about buying or selling right now. But I've got good news: The truth is that the market is already shifting. As a full-time Realtor, I can feel it. In fact, here are 3 things buyers can ask for today that they couldn't have just 30 days ago:

1) Seller credits. These can be used to lower the rates, if that's a concern, or to help with closing costs.

2) Inspections & repairs. Buyers don't have to buy homes blindly anymore. Believe it or not, they can actually inspect the home and possibly ask for repairs -- especially if the home has been on the market for a bit.

3) Ask for an appraisal and no appraisal gap requirements. Pay the value of the home, not $10k or $20k over just because there are multiple offers!

Now, each individual home is different. Some sellers are stuck in what the market used to be like 12 to 18 months ago. So make sure your agent is experienced and can package these items carefully.

There are actually some great deals to be had out there right now. If you gave up a few months ago, consider getting back into the market. A lot has changed in the last 30 days and there's finally some relief from the last 2 years of craziness.

Let me know if you have any questions or are interested in knowing more about homes for sale here in Metro Detroit. My personal cell is (248) 773-3314

- Alec
Find New Keys, Real Estate Group

09/22/2022

New Listing
Priced at $220,000

- 2 bedrooms, 1.5 baths
- Beautiful outdoor courtyard
- Open concept kitchen and living space
- Basement for additional storage and space
- Fenced back patio perfect for entertaining
- Located close to tons of Royal Oak favorites like Ray's Ice Cream, Uptown Park, and Duggan's

This condo is located at 3405 W 14 Mile Rd here in Royal Oak.

If you have any questions or would like to schedule a tour, call or text me.

My personal cell is (248) 773-3314

- Nick