Farmington Hills Real Estate and Events talk Michigan

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.