Detroit Real Estate

Novi Foreclosure statistics

 Novi MI real estate is very similar to most of Metro Detroit real estate.  There are foreclosures in every Metro Detroit suburb in all price ranges.  Currently there are 34 Novi foreclosures.  The lowest price one is 50,000 and the highest one over $900,000.

There are Novi foreclosures in Chase Farms subdivision, Island Lakes subdivision, Bristol Corners subdivision, Vista Hills subdivision, Yorkshire subdivision, Meadowbrook Glens subdivision, and Simmons Orchard subdivision.  No income bracket or demographic seems to be immune to losing their home to foreclosure. 

Novi Short Sales 

There are 35 Novi homes for sale that are short sales.  Short sales are where the home owner is trying to sell the Novi home for less than what they owe on the mortgage.  Short sales take the banks approval and usually take longer to get done.

Novi Corporate relocation sales

There are 2 corporate relocation homes for sale in Novi at this moment (one in Addington Park subdivision).

Usually foreclosures, short sales, corporate relocation are homes buyers should look at because they may be priced below market value.  Banks are pricing foreclosures very aggressively to get rid of them.  It just depends on the bank whether it is a good price or not.

 For more on Novi subdivisions or to search Novi MI homes for sale go to my website Oakland County MI Real estate

Feel free to call or email me about Novi foreclosures or short sales.  cell 313-310-9855  or info@russRavary.com

Comp and Listing Information Courtesy of Realcomp II Ltd, Properties shown have been listed and sold by various MLS member REALTOR® agents