SHELBY TWP, Mich (WXYZ) - Home tax assessments in Macomb County continue to drag, but realtors remain optimistic, suggesting there is a silver lining to the market.
"The fact that taxes are going down, it's a catch up tool with the state right now," said David Elya. He's spent 21 years selling homes in Macomb County. Instead of looking at property taxes, which he says are based on dated information, Elya is looking at inventories. He admits prices are nowhere near where they were in 2006-2007, but there are fewer properties on the market, which means sellers should be seeing an increase in their property values.
Elya says homes are selling at every price point, but buyers might find better deals in Eastpointe, Roseville, parts of Saint Claire Shores, or Warren where experts estimate home values have declined 25%-35%.