Here is the latest Livonia real estate update: currently there are 18 Livonia homes for sale (single family) under $50,000 and 19 Livonia condos priced under $50,000. 14 of them are short sales, 7 of them are Livonia foreclosures, and are relocation sales. The single family homes are selling quicker than the condos only because many of the condos are short sales.
***Short sales are where the homeowner is trying to sell the home or condo for less than what is owed on the mortgage. The bank has to agree with it. A short sale can take anywhere from 45 days to 6 months to complete. The average time is 4 months. Sometimes the bank does not agree to the short sale. So you can put in an offer on a short sale and after 4 months they can say no. 
I look at homes or condos priced in the $35,000 price range as a steal. I have sold a couple of Livonia condos in the last few years in the $30 -35,000 price range. Both people paid cash for them. How could they go wrong. Eventually the metro Detroit real estate market will come back.
Livonia homes and condos I believe will hold their value for many years to come. In fact I believe some of these Livonia condos will increase in value. But what I think is great is that Livonia has a low crime rate, good school system, and easy access to freeways, shopping, and the airport.
All of these factors make a Livonia a great Metro Detroit relocation location. But even for those people with limited funds I would recommend Livonia real estate to. Safety, closeness to major employers, and place that should increase in value in the years to come.
I myself live in Livonia and love the city and the local area. So if you are looking to move to the Detroit suburbs the western suburbs are a great place to live. There are very few cities in the western suburbs that I would not recommend.
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Russ Ravary your Metro Detroit realtor
Hi Russ,
I have family in Livonia. It's a great place. Many blessings to you and your family in 2010.
Those prices look really good sorry they are so low but you are correct how can you go wrong.