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Adam
F L I N T O I D
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Sat Aug 17, 2013 2:12 pm |
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untanglingwebs
El Supremo
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| Sorry Adam but owners of some very large historic houses in the Welch Blvd area have been told by Realtors to "get out of town" while thy can get anything for their homes. |
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Sun Aug 18, 2013 9:12 am |
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Adam
F L I N T O I D
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Sun Aug 18, 2013 12:42 pm |
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untanglingwebs
El Supremo
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48504 Real Estate Trends & Market Info
Summary
Market Trends
Foreclosure Trends
Median List Price
$9,950
5% ( $450 ) vs Jun 2012
Median Sales Price
$8,000
33% ( $2,000 ) vs Jun 2012
Median Foreclosure Sales Price
$6,447
12% ( $697 ) vs Jun 2012
Foreclosures 270
Homes for Sale 92
Recently Sold 425
..
Market Summary
There are currently 270 properties in 48504 that are in some stage of foreclosure (default, auction or bank owned) while the number of homes listed for sale on RealtyTrac is 92.
In July, the number of properties that received a foreclosure filing in 48504 was 104% higher than the previous month and 16% lower than the same time last year.
Home sales for June 2013 were up 72% compared with the previous month, and down 11% compared with a year ago.
The median sales price of a non-distressed home was $8,000. The median sales price of a foreclosure home was $6,447, or 19% lower than non-distressed home sales.
Sales Prices - 48504
Foreclosure Discount
$1,554 ( 19.4% )
521.4% ( $1,304 ) vs Jun 2012
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Sun Aug 18, 2013 1:32 pm |
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untanglingwebs
El Supremo
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More houses are being sold but the median price is $8,000.
There is a foreclosure on Wilberforce in University Park that will go to auction September 5th. The house sold for 4148,443 in 2005 but they estimate the current market value at $85,000.
The market rate of houses selling in Smith Village appears to be $65,000 although they cost $190,000 or more to build and include all new energy efficiency appliances. And none of the houses show the fenced back yards as shown in the initial plans.
Check out:
Chippewa-1407,1401 &1217
Root-1200, 1402, 1321, & 1414
Avenue A-1408 and 1320
This is only a sample. How can established homeowners compete with these prices. Why do you think University home values are tanking?
Yes the county prices are increasing and sales are going up. Many Flint people are flocking to the county or down south to escape the dictatorship here. Those remaining are trapped.
How do you think sales in Smith Village will grow as problems escalate across the street around River Village apartments an Rallys. Getting closer to downtown! |
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Sun Aug 18, 2013 1:47 pm |
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Adam
F L I N T O I D
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Mon Aug 19, 2013 5:39 pm |
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Adam
F L I N T O I D
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Mon Aug 19, 2013 6:02 pm |
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untanglingwebs
El Supremo
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Adam- only in some areas. Just go to Willow or Trulia and look at house sales. I know of a house that should sell for $100,000, but the frightened home owner is listing at $13,900/. Another similar home is listed at $30,000 but might go down to $20,000. The real estate agent is using scare tactics and telling them to get out before home values drop again, The Journal article predicts another 17.9% drop in home values.
Look at the great values in the big homes off Miller road and in the college/cultural area. Many people are staying put because they can't afford to move.
Thank the land bank and Salem Housing for destabilizing more than one neighborhood. How can the average homeowner compete with remodeled homes that have up to $170,000 invested in them complete with state-of-the -art appliances selling for $36,000 to $39,000.
Every place I go I hear about the great deals people got on a home. Think how many homeowners are getting shafted. |
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Mon Aug 19, 2013 6:33 pm |
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untanglingwebs
El Supremo
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Flint tops list of fastest recovering housing markets
by Walter Smith-Randolph
Posted: 08.19.2013 at 6:41 PM
Walter Smith-Randolph
FLINT -- The Vehicle City is topping RealtyTrac's list of America’s fastest growing housing markets.
“My first response was, I was surprised,” says Flint homeowner John Park.
It’s all thanks to an 85-percent dip in foreclosures and a spike in cash sales but not everyone is buying it.
“I’m just still not convinced,” says Madeline Kingston-Park, John’s wife.
“(It’s) a misrepresentation of what's really going on,” says Pat Oakes, past president of the Flint board of realtors.
Oakes says investors are fixing up uninhabitable homes and putting up the 'for rent' sign. He says that's driving up home values
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“I think it's a good thing but you probably have people out there that would tell you it's not so good,” says Oakes.
“I don't see the houses going for sale and when they do go for sale, they're very low prices,” says Kingston-Park. “Way lower then what I would want for my home,” adds the homeowner.
Madeline and John Park’s home of 14 years isn't exactly skyrocketing in value.
“I think it's going to be a while before that happens,” says Kingston-Park.
“If you'd look at hard numbers, you'd probably see that maybe prices have gone up 3-percent or so,” says Oakes.
While Flint neighbors aren't totally buying the new ranking, they're still claiming it a victory.
“It makes sense and I’m glad we're on top of something, some good news rather then the bad news,” says Park. |
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Tue Aug 20, 2013 2:36 am |
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untanglingwebs
El Supremo
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| I have been looking at homes n the flint journal online. many of the homes listed as Flint are not Flint. They are Flint Township 48532, Grand Blanc and Mundy 48507, and Genesee 48506. |
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Sun Oct 27, 2013 8:28 am |
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untanglingwebs
El Supremo
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News about Michigan Housing Losses
bing.com/news
Michigan among states with worst housing losses in recession
The Detroit News · 1 hour ago
New Census data released Thursday show Michigan suffered some of the worst housing losses during the recession, with the crash in Detroit severely pulling down…
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How have real estate prices changed in your county? (database)
Detroit Free Press · 3 hours ago
Why The Blind Optimism Behind the Housing Recovery Won’t End Well
investing.com · 19 hours ago |
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Thu Nov 14, 2013 4:21 am |
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untanglingwebs
El Supremo
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Detroit Free Press
How have real estate prices changed in your county? (database)
By Kristi Tanner
| FILED UNDER -
Opinion
/ Commentary |
12:26 AM, Nov. 14, 2013 |
The median home value in post-recession Michigan declined by $26,200 to $119,200, according to a new Census report that compares median home value during the three-year period of 2007 to 2009 (during the recession) and 2010 to 2012 (after the recession).
Home ownership dropped by 2 percentage points during the same time period to 72%, according to Census data released today for geographic areas with populations of 20,000 or more.
About four out of five Michigan counties experienced a decline in median home values, the rest experienced no statistical change. Oakland, Macomb and Livingston counties had the largest numeric declines approximately $40,000.
■ Related: Metro Detroit home sale prices jump 42% in October
“The recession started earlier and ended later here in Michigan,” said demographer Kurt Metzger, founder of Data Driven Detroit, “things have just started to turnaround.”
Unlike national trends reported by the Census Bureau, small counties (between 20,000 and 65,000 residents) in Michigan were not able to avoid losses in median home values. Two out of three small counties nationwide remained stable after the recession while only one in four small counties in Michigan held constant.
Southeast Michigan in particular was hit hard — all counties in the Detroit Metro and Flint Metro areas experienced declines of about 20% or more in median home values, according to Metzger who analyzed the census data. “These numbers reflect the severity of the recession and what it did in Michigan,” he said.
Michigan had the fifth lowest median housing value in the U.S. and Wayne County ranked last among the nation’s 50 most populous counties (2010-2012).
Search the database below to see data for Michigan counties with 20,000 or more residents.
Genesee County, Michigan
Total housing units, 2010-2012 191,631
% Occupied housing units, 2010-2012 86.4
% Occupied housing units, 2007-2009 86.3
An asterisk appears here if the percent occupied housing unit estimates are statistically different between years:
Online Database by Caspio |
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Thu Nov 14, 2013 4:29 am |
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untanglingwebs
El Supremo
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November 14, 2013 at 1:00 am
Michigan among states with worst housing losses in recession
Mike Wilkinson
The Detroit News
New Census data released Thursday show Michigan suffered some of the worst housing losses during the recession, with the crash in Detroit severely pulling down averages in both Wayne County and the region.
Among the 50 largest cities nationwide, Detroit had the lowest median home value and Wayne County had the lowest among the 50 largest counties. Michigan tied Nevada for the biggest drop in ranking since 2007, falling from 33rd to 47th in median home value.
The plummet in home prices had long-lasting effects, crushing the tax base of the city that is now in bankruptcy court seeking to wipe out billions of dollars in debt. The value drop, which has been mollified in recent months by sharp increases, also deflated the net worth of hundreds of thousands of Michigan homeowners.
“What I’ve seen the last five years I’ve never seen before,” said Karen Kage, CEO of Realcomp II, Ltd., a multiple property listing service.
The U.S. Census Bureau released data comparing home values, as reported by homeowners, from 2007-09 to 2010-12.
Nationwide, they dropped 9 percent. In Michigan, they fell 18 percent to $119,200, while they dropped 24 percent in Metro Detroit to $119,900, 29 percent in Wayne County to $83,800 and 41 percent in Detroit to $48,000. Values dropped 18 percent in Livingston County to $179,500; 20 percent in Oakland County to $165,300 and 26 percent in Macomb County to $118,900, the numbers show.
The historic rise and fall was painful for Shawn Modzelewski of Washington Township. A homeowner at age 18, the 50-year-old always made money on homes until he bought a 2,400 square foot home in Bruce Township in 2000 for about $213,000.
Over the next 10 years, its value climbed to $310,000. It sold for $107,000 in 2008.
“Going up, it was wonderful,” said Modzelewski, a real estate agent. “When this thing started falling, everything imploded.”
The numbers came from the American Community Survey, sent annually to 3 million addresses. It has replaced the so-called “long form” that used to provide demographers with social, economic and housing data every 10 years.
The declines in housing values occurred statewide as foreclosures and migration created a huge inventory of homes. It was worst in Detroit, where the faltering economy and loss of tens of thousands of people fueled the destruction of neighborhoods as strippers took homes apart pipe by pipe.
“The devastation in Detroit in some instances is irrevocable,” said real estate agent and broker Darralyn Bowers, who owns an agency in Southfield.
She said she’s trying to protect a home on East Outer Drive long enough to get a new owner into it before its heating and plumbing systems are plundered.
“It’s been a full-time job trying to protect that property,” she said. “All the neighbors are helping me.”
No area was immune but parts of Michigan weathered better. Kent County, in western Michigan, saw property values fall 8 percent, while they dropped 5 percent in neighboring Ottawa County. The region is bolstered because of a diverse economy in Grand Rapids that blends manufacturing, finance, medicine and education.
“It’s much more diverse,” said Kurt Metzger, director emeritus of Data Driven Detroit, a planning agency.
In the past year, the region has experienced a market rebound. In October, median home prices in Metro Detroit rose to $149,800, a 20 percent increase from that month last year, according to a Realcomp report. October data supplied by RealtyTrac, released Thursday, show foreclosures statewide fell 48 percent over 2012 and by 53 percent in Metro Detroit to 1,928.
Some of the increase in values, though, is caused because fewer homes are on the market. At one point this year, only 15 homes were on the market in Southfield, Bowers said.
“We would love to see more inventory,” she said.
mwilkinson@detroitnews.com
(313) 222-2563
More From Michigan
1:00 am
Michigan among states with worst housing losses in recession
New Census data released Thursday show Michigan suffered some of the worst housing losses during the recession, with the crash in Detroit severely pulling down averages in both Wayne County and the region.
From The Detroit News: http://www.detroitnews.com/article/20131114/METRO06/311140030#ixzz2kbw80nVX |
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Thu Nov 14, 2013 4:37 am |
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Adam
F L I N T O I D
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Mon Nov 18, 2013 2:44 pm |
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mitchgreen26
F L I N T O I D
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| That's great! House flipping is one of the most popular methods of investing in real state. Fortunately,
flipping homes
was a big trend for a while there, until the housing industry crashed. However, the quantity of people doing it has begun to increase. |
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Wed Sep 03, 2014 6:18 am |
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