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twotap
F L I N T O I D
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| Welch Boulevard home owners told to get while the getting's good. I would say that thanks to the plague that time has long passed. |
_________________
"If you like your current healthcare you can keep it, Period"!!
Barack Hussein Obama--- multiple times. |
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Wed Sep 03, 2014 7:58 am |
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untanglingwebs
El Supremo
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| I was looking at some real estate sites and Flint property values are still very low. At least two years ago I was shocked to see homes listed for sale in Flint Mott park for $5,000 and $7,000. Flint 48507, which includes parts of Grand Blanc and Mundy, have increasing property values. |
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Tue Sep 16, 2014 6:27 am |
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untanglingwebs
El Supremo
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Flint Real Estate Statistics & Foreclosure Trends Summary ...
www.realtytrac.com › Find a Home › About Us › Contact Us
RealtyTrac provides detailed information on Flint real estate statistics & foreclosure trend summary to keep investors, realtors, & consumers updated. |
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Wed Oct 29, 2014 5:38 am |
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untanglingwebs
El Supremo
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Flint Real Estate Statistics & Foreclosure Trends Summary
Summary
Market Trends
Foreclosure Trends
Median List Price
$28,500
5% ( $1,400 ) vs Aug 2013
Median Sales Price
$21,913
10% ( $1,913 ) vs Aug 2013
Median Foreclosure Sales Price
$9,550
16% ( $1,825 ) vs Aug 2013
Foreclosures 578
Homes for Sale 493
Recently Sold 1,710
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Market Summary
There are currently 578 properties in Flint, MI that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 493.
In September, the number of properties that received a foreclosure filing in Flint, MI was 21% higher than the previous month and 23% lower than the same time last year.
Home sales for August 2014 were up 51% compared with the previous month, and up 24% compared with a year ago. The median sales price of a non-distressed home was $21,913. The median sales price of a foreclosure home was $9,550, or 56% lower than non-distressed home sales.
Sales Prices - Flint, MI
Foreclosure Discount
$12,363 ( 56.4% )
43.3% ( $3,738 ) vs Aug 2013
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local info for Flint
Population:
107,807
Cost of Living Index: 88.03
Crime Index: 714.97 Rating: F View crime details
Schools: 48 Average School Rating: D View individual school rating
Household Median Income: $27,199
Unemployment: 12.40%
Percentage of vacant homes: 21.98% |
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Wed Oct 29, 2014 5:44 am |
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untanglingwebs
El Supremo
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| With a crime rating of F and a school rating of D, I don't see families racing to live in Flint! |
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Wed Oct 29, 2014 5:48 am |
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untanglingwebs
El Supremo
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Graphs and other information is available on the previous link.
Foreclosure Rates for Flint, MI (note: all of these rates are considered high)
September 2014
Flint, MI
1 in every 666
Top 5 Zips
48506 (includes Genesee Township)
1 in every 536
48504
1 in every 573
48507 (includes part of Mundy Twp. and Grand Blanc Twp.)
1 in every 596
48503
1 in every 621
48532 (Includes parts of Flint Township)
1 in every 787 |
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Wed Oct 29, 2014 5:58 am |
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untanglingwebs
El Supremo
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Stateside
6:00 pm
Mon October 27, 2014
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Slow housing recovery for minorities in Grand Rapids
By Stateside Staff
Credit Steve Carmody / Michigan Radio
West Michigan has the most racially uneven housing market recovery in the nation.
That's the conclusion of a national study by the Urban Institute, which examined 100 million mortgages from 2001 to 2013.
Taz George, a researcher with the Urban Institute’s Housing Finance Policy Center, says there's a distinct trend in the number of loans issued and to whom. George says the study “found a huge racial disparity of when different borrowers entered the mortgage market.”
George says following the recession, African Americans and Hispanics were much less likely to receive a loan. George says an "overcorrection" from the years of the height of the housing boom could spell trouble for the broader economy, as fewer qualified buyers can participate in the housing market. And he says that could have long-term effects on the accrual of wealth and savings, with tens of thousands of qualified borrowers excluded from the housing market.
Michigan has two cities, Detroit and Grand Rapids at 5th and 1st, respectively, for the most racially uneven housing market recovery in the nation. George attributes this to how Michigan was particularly hard hit by the recession. In mapping out the recent history of housing loans in both cities, George says he found that in predominantly African American communities, new mortgages have been practically non-existent following the recession. The challenge, says George, "is figuring out how to open the credit box back up to eligible qualified borrowers in the housing market.”
*Listen to Taz Geroge discuss the housing market recovery above
Related Content:
Economy
1 in 3 Michiganders are seriously underwater on their homes
Stateside
Is it better to buy or rent a house in Michigan?
Stateside
How will Michigan's housing market fare in 2014? |
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Thu Oct 30, 2014 8:07 am |
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untanglingwebs
El Supremo
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Economy
1:01 am
Thu August 11, 2011
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Foreclosure filings down in Michigan, analyst gives some credit to government programs
By Steve Carmody
(photo by Steve Carmody/Michigan Radio)
Michigan’s foreclosure rate continues to fall. A new report shows another month with a sharp decline in foreclosure filings in the state. RealtyTrac reports home foreclosure filings in Michigan declined by 15% from June to July. The filings were down 42% compared to July 2010.
A foreclosure industry analyst says one reason for the decline is banks are taking advantage of government programs designed to keep people from losing their homes. Government anti-foreclosure programs have been the target of critics who say the programs have not kept people from losing their homes.
But Daren Bloomquist with Realty Trac says this year’s downward trend in home foreclosure filings is probably due at least in part in part to the much maligned anti-foreclosure programs. He says banks and other lending institutions are becoming more interested in taking part in those programs.
“A short sale…a loan modification….is looking a lot better in their eyes than it was even last year. It’s looking like a much better alternative than foreclosure to them.”
Bloomquist says the glut of repossessed homes will continue to depress home sale prices through probably 2015. He says keeping more homes from being repossessed may help reduce the glut of homes clogging the housing market.
Tags:
realty trac daren bloomquist foreclosure housing market home sales . |
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Thu Oct 30, 2014 8:11 am |
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untanglingwebs
El Supremo
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West Michigan has nation's 'most racially uneven' housing market recovery, Urban Institute concludes
_P2I3045
Mortgages lending to whites has recovered much more from 2005 to 2013 than mortgage lending to African Americans and Hispanics, according to a national study by the Urban Institute. (The Grand Rapids Press)
Jim Harger | jharger@mlive.com By Jim Harger | jharger@mlive.com
Follow on Twitter
on October 15, 2014 at 2:45 PM, updated October 15, 2014 at 3:21 PM
GRAND RAPIDS, MI – A new study of home mortgage activity concludes that West Michigan is the nation’s most “racially uneven” housing market when it comes to helping African Americans and Hispanics recover from the housing bust.
The Urban Institute’s national study of 100 million mortgages from 2001 to 2013 concluded that while mortgage loans are down sharply for all homeowners from the heyday in the mid-2000s, the decline has been much sharper for African Americans and Hispanics.
Nowhere is that more evident than in the Grand Rapids-Wyoming region, which includes Kent, Ionia, Barry and Newaygo counties, the study concluded. The Detroit-Warren-Dearborn region ranked fifth, ahead of three regions in Northern California.
View full size
This map compares mortgage lending by race in West Michigan in 2005 and 2013.
Courtesy rendering of the Urban Institute
In West Michigan, loans to non-Hispanic whites were down 21.4 percent from 2005 to 2013 while loans to African Americans and Hispanics were down 65.9 percent, the study showed. That’s a 44.5 percent difference between whites and minorities – the highest in the nation.
Nationally, the survey indicated loans to non-Hispanic whites were down 48.2 percent while loans to African Americans and Hispanics were down 73 percent – a 24.8 percent difference. In the Detroit area, loans to minorities were down 81.3 percent compared to 46.8 percent for whites – a 34.6 percent disparity.
“In 2005, lending standards were extraordinarily relaxed, with lenders issuing mortgages to many households that would not typically be considered creditworthy,” the Urban Institute said.
“Today, the opposite is true; standards have tightened considerably, and the shift has disproportionately affected African American and Hispanic households, which tend to have lower credit profiles.”
According to the survey results for the Grand Rapids-Wyoming region, 35,816 mortgages were granted to whites in 2005 compared to 27,517 in 2013. African Americans signed up for 1,682 mortgages in 2005 compared to 519 in 2013. Hispanics got 2,298 mortgages in 2005 compared to 912 mortgages in 2013.
Nancy Haynes, executive director of Fair Housing Center of West Michigan, said she was “startled” by the survey’s conclusions.
“We trying to figure out what it looks like on the ground and what we need to do to address it,” said Haynes, whose agency has been active in pursing lenders who fail to maintain their foreclosed properties in minority neighborhoods on par with foreclosures in white neighborhoods.
Haynes said the analysis by the Urban Institute constituted a new look at lending practices. “We do not have the resources to do that kind of deep dive,” she said.
“If our independent analysis mirrors that, what it means is that a huge segment of our population here in Grand Rapids is being shut out of mortgages.”
Rory Byrne, president of the West Chapter of the Michigan Mortgage Lenders Association, said he was “alarmed” by the survey’s findings.
Byrne speculated the survey may reflect the fact that lenders have tightened their standards and people with lower credit scores are being turned away in higher numbers.
“I think it’s no secret that many more minorities in general and Hispanics became new homeowners through the loosening of guidelines,” Byrne said. When the housing market collapsed, new homeowners had less home equity to fall back on, he said.
“It’s disheartening to see,” Byrne said. If there is a correlation between lower credit scores for African Americans and Hispanics, Byrne said he would advocate for programs help them build credit and raise their credit scores.
Jim Harger covers business for MLive/Grand Rapids Press. Email him at jharger@mlive.com or follow him on Twitter or Facebook or Google+. |
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Thu Oct 30, 2014 8:16 am |
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