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Posts Tagged ‘foreclosures in lapeer county mi’

If you tried to sell your Lapeer County Lake house last year with no success, AND you were a fairly high priced listing, do not despair. It was not your house- it was the market.

In 2014 there were only 4 lakefront sales over $600,000 and all 4 were on acreage. 2 of those were on major acreage with private lakes- 40 acre and 90 acre parcels. And by private lake I mean their own private lake. The other 2 were a house and 9 acres on Lake Metamora and a house on 5 acres on Lake Lapeer.

Only 2 houses sold in the $400,000’s- both on Lake Lapeer.

This is better than 2013 when the price of lake houses in Lapeer County topped out at $477,500.

So far in 2015 there has been 1 sold on Lake Lapeer for just under $400,000 and 2 pending at just under $400,000 and in the mid $500,000’s.

The rise in prices is due to an improving economy, low interest rates and the lack of distressed properties (foreclosures and short sales). The distressed sales dropped to 11% of the total lake sales in 2014 from 19% in 2013. In 2010 distressed sales made up 49% of total lakefront sales in Lapeer County.

For more detailed information about specific lakes, please go to www.Lapeer-Homes-For-Sale.com and click on the appropriate link. Or LapeerLakes.MiRelocation.com – no w’s.

Lake Nepessing

Lake Lapeer

Lake Metamora

www.MiRelocation.com

My YouTube Channel: www.JackieHawleyRealtor.com

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Buying an Oakland County or Lapeer County MI Foreclosure? Be Warned- The Seller Sets the Rules and There is NO Bending!

Some of the best deals in north Oakland County and Lapeer County MI are foreclosures/bank/government owned homes. Some are trashed, but some are in great condition; especially once you get above the $100,000 mark. If you see a house selling for $40K in Lake Orion it probably sold for cash because the house was too beat up to mortgage. But once you get over $100K the houses miraculously improve and the prices tend to be very attractive for what you’re getting. I’ve shown a few Fannie Mae owned homes recently where Fannie Mae actually had the entire house re-carpeted the the interior was freshly painted.

Banks are in a position that most homeowners are not- they can afford to under price their homes.

Along with getting a great deal you need to realize that the banks set the rules and if you want to buy a foreclosure listing you must play by their rules.

  • 24 hours response time can easily translate into 72 hours or more
  • you have to go on a verbal for a period of time and your time frames will probably start upon the verbal notification not written notification of their acceptance
  • there will be no repairs after the home inspection
  • there will be no changes on their addenda
  • if they state the buyer must get utilities in their own name to perform the home inspection this is not negotiable
  • if the house is re-winterized after the home inspection and the listing agent states that it is up to the buyer to un-winterize after the closing- they will not un-winterize for the pre-closing walk through
  • you will close in the time frames set forth in the bank addenda and if you need an extension you will most likely pay a per diem fee for any extension

I am not trying to discourage anybody from looking at or purchasing a foreclosed home; I just want any buyers I work with to be aware of the rules going into the game. Because unlike a normal, human being selling their home, banks have no personal attachment and often treat the sale of a home like a game.

Buying a Foreclosure

The Nuts and Bolts of Buying a Oakland or Lapeer County Home

Search the MLS 

For Sellers

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