Many buyers think yes, but no the bank doesn't want to dump Dearborn Heights foreclosures. Many buyers feel the banks just want to dump the foreclosures so they think they can over a low ball price. But unfortunately that doesn't work in the current Metro Detroit real estate market.
The banks want to get the highest price possible. They don't want to dump the properties for any price. Sure they want to get rid of the foreclosured homes, but they want to get the best price they can. So they won't take a low ball price in the first week. If the home has issues and has been on the market over 25 days then the bank is more likely to take a low ball offer.
If you look at all these Dearborn Heights foreclosures that sold in the last month you will notice:
- 6 sold at a low ball offer
- 8 sold under price
- 6 sold at list price
- 15 sold at over price
- 4 sold over list price
| Dearborn Heights foreclosures sold in the last 30 days |
| DOM |
SQUARE FOOTAGE |
SP PER SQFT |
| 4549 FLEMING ST |
32500 |
15000 |
72 |
720 |
20.8333 |
| 25965 CURRIER ST |
15000 |
15000 |
76 |
1100 |
13.6363 |
| 25912 POWERS |
15500 |
16761 |
22 |
1072 |
15.6352 |
| 4402 HARDING ST |
19900 |
17000 |
6 |
995 |
17.0854 |
| 4681 WEDDELL ST |
19900 |
19900 |
7 |
860 |
23.1395 |
| 25438 HANOVER ST |
21900 |
21900 |
15 |
936 |
23.3974 |
| 4455 HIPP ST |
22000 |
23501 |
11 |
1002 |
23.454 |
| 4435 HARDING ST |
34900 |
25000 |
27 |
1196 |
20.903 |
| 5370 Croissant |
44900 |
25725 |
113 |
1020 |
25.2205 |
| 5601 GERTRUDE ST |
26900 |
26000 |
42 |
1215 |
21.3991 |
| 25604 AMHERST ST |
28900 |
27100 |
8 |
1450 |
18.6896 |
| 7667 HAZELTON ST |
39900 |
30000 |
14 |
967 |
31.0237 |
| 20438 BROOKLAWN DR |
29900 |
31000 |
9 |
1073 |
28.8909 |
| 6536 FENTON ST |
31900 |
31900 |
28 |
913 |
34.9397 |
| 8536 DIXIE LN |
49820 |
32000 |
45 |
1024 |
31.25 |
| 4838 PRINCESS ST |
49900 |
32550 |
49 |
901 |
36.1265 |
| 5830 WHITEFIELD ST |
36000 |
37000 |
29 |
1040 |
35.5769 |
| 8211 DALE ST |
39900 |
40200 |
18 |
1148 |
35.0174 |
| 8048 RIVERDALE ST |
39900 |
42000 |
6 |
1408 |
29.8295 |
| 6537 ROBINDALE AVE |
46200 |
42000 |
19 |
1053 |
39.886 |
| 3804 BENNETT ST |
33000 |
42500 |
12 |
981 |
43.3231 |
| 8260 VIRGIL ST |
44900 |
44900 |
4 |
1040 |
43.1731 |
| 7630 GRAYFIELD ST |
50000 |
50000 |
119 |
1229 |
40.6834 |
| 7049 NORBORNE AVE |
57900 |
50000 |
36 |
999 |
50.05 |
| 5805 COOLIDGE ST |
49900 |
50000 |
14 |
1088 |
45.9558 |
| 7367 AMBOY ST |
60000 |
50155 |
139 |
1285 |
39.0311 |
| 8582 WINSTON LN |
49900 |
55000 |
2 |
1050 |
52.3809 |
| 22059 ANN ARBOR TRL |
64900 |
56000 |
57 |
1385 |
40.4332 |
| 8353 N SILVERY LN |
49900 |
57050 |
10 |
1164 |
49.012 |
| 6618 N SILVERY LN |
49000 |
57500 |
11 |
1026 |
56.0428 |
| 21164 FAIRVIEW DR |
52900 |
58000 |
8 |
1102 |
52.6315 |
| 5645 NORBORNE AVE |
59950 |
58000 |
66 |
931 |
62.2986 |
| 8073 WHITEFIELD ST |
59900 |
58000 |
14 |
1155 |
50.2164 |
| 7104 BERWYN |
62900 |
63000 |
6 |
2082 |
30.2593 |
| 5678 HUBBELL ST |
41000 |
70000 |
8 |
1688 |
41.4691 |
| 5884 CENTRALIA ST |
67500 |
70000 |
12 |
1529 |
45.7815 |
| 25944 WARRINGTON ST |
62500 |
70200 |
75 |
1243 |
56.4762 |
| 933 SHERBOURNE DR |
108801 |
103361 |
1 |
1549 |
66.7275 |
| 25651 AVONDALE ST |
107900 |
104000 |
6 |
2090 |
49.7607 |
| 26411 ANN ARBOR TRL |
125900 |
120000 |
21 |
1370 |
87.5912 |
| 26910 NORTHMORE ST |
124900 |
125000 |
6 |
2536 |
49.2902 |
| 26330 SIMS ST |
119500 |
145000 |
8 |
1690 |
85.7988 |
| 1706 N INKSTER RD |
164000 |
176000 |
5 |
2639 |
66.6919 |
I hope this gives you an idea on how to bid when looking at Dearborn Heights foreclosures.
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