Michigan Foreclosure Listings: Great Prices on Homes
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I never considered foreclosure properties. I have found however that investing overseas to be quite a lucrative market if you do it right. At the moment, France and Spain are good areas.
My little sister is thinking of studying in Ann Arbor, after reading this it gives me great satisfaction that finding a house won’t be so expensive.
A friend of mine purchased four homes and paid less than $15,000 for each. None of them were “perfect” but all of them had a decent amount of land and could be remodeled.
If you can find work, Michigan is a great place to consider.
This is just the right time if you have some money in your hand and planning to buy a home. I totally agree with Mathews and am looking for the suitable home in Michigan for me. Hope I would, soon, be able to find my dream house under my budget.
Foreclosure is growing everywhere amidst today’s economic slump. It is a pity in fact. Yet, this is what we have to solve. In case of having full-owned home which is intended to get sold, read Home Staging Tips. This may be helpful.
Its definatrly been and looks like its gonna continue to be a buyers market for a while. With our countries economy in the state its in many people are becoming desperate and selling good properties for much less than they were once purchased for.
What we must remember is that the value of a property is the price it would fetch from a willing buyer vs willing seller.. Therefore if everything is selling below its so called ‘market value’ then those lower prices are actually its value!
Hey Mathew,
Excellent read, and I have found that my buyers love foreclosure lists, especially if there are a lot of them. The great thing about foreclosures is the price you can get, but it doesn’t take as much time to get to close as a short sale. There just like any other real estate transaction. 
Thanks!
Foreclosure definitely are boons in disguise to some people, me included And thanks for the info on Michigan property prices! The economy there seems to be on the upturn and the house prices are ripe for the picking. I might just be headed off to Michigan to buy some houses now
If you have a guaranteed job (like a telecommuting job from another state), then you can have job security and a home at a great price.
Yes foreclosures can offer a good deal for a home buyer. The key is knowing what to look for because just like a normal home for sale there can be some deals that are not so good either.
Blog is informative and impressive me i have become a great fan of your blogs. your blog is presented in a nice way!
Poor Michigan… You gotta fell sorry for the decline of detroit and the auto industry. Buyers there probably have a lot of selection to find a lot of good deals.
One of the things that I have found with foreclosures in my local Cincinnati Real Estate market is that the conditions vary from house to house. I am sure that in Michigan that holds true as well. My big concern with winter coming up is that people will not properly winterize the property and you will get busted water pipes.
To say Michigan is a buyer’s market is really an understatement. Unfortunately I think the foreclosures will remain high for a while until unemployment drops back to normal levels there. Buy and hold would be a smart move in my opinion.
My question about Michigan is whether or not parts of the state will recover economically. Jobs and people are moving south. Nothing against Michigan, I lived in Mason and worked in East Lansing for two years and I loved it.
I never considered foreclosure properties. I have found however that investing overseas to be quite a lucrative market if you do it right.
The economy there seems to be on the upturn and the house prices are ripe for the picking. I might just be headed off to Michigan to buy some houses now.
The chance for savings comes from the fact that a mortgage lender is selling these properties as a means of collecting a mortgage..Is this a right path..
I do have a doubt..
Will this come under default money…
very good points you make here. wow! reading your post and the comments … didn’t know you could get such low prices for houses in Michigan!
What with the real estate market prices in Michigan being so good right now, and with the banking starting to release some of that bail out money to new investers, I think the future of real estate looks a little more promising for this year, nice post.
Some good points have been mentioned here about michigan real estate. And after reading this article i think this is the best time to Buy My House.thanks for this article.
Michigan is a state that is overwhelmed with foreclosures due to high unemployment (some area’s like Flint at over 15%!). If you could buy and hold onto the property and wait for better times you could make a killing here.