Livingston County Market Reports - Livingston County Michigan real estate market reports

After the first time homebuyer tax credit

What will happen after the first time home buyer tax credit expires? I don't think anybody knows. I myself think it has been one of the Democrats best success stories. I think if you ask any real estate professional you will hear that the tax credit did bring a large number of buyers into the market. The tax credit created demand. And I believe the demand in the Metro Detroit housing market was enough to temporarily stabilize the home values.

Before the first time home buyer tax credit we were on a major slide of home prices. The tax credit brought investors and first time home buyers into the market. In the last year it was not unusual to see multiple bids and homes going over list price. All due to first time home buyers and the tax credit. Sure the higher priced homes were not affected but the homes under $250,000 range was.

Investors also jumped into the market. They could buy and then fix up homes to flip to first time home buyers. That also helped the market.

As for what will happen I honestly don't know. I do think demand is already dropping off. We are exhausting the first time home buyer pool. Now we are getting bad credit people applying. There are less qualified buyers out there right now. So hopefully home values won't drop after the first time home buyers leave the market because the credit expired.

Search Metro Detroit homes for sale

http://www.detroitmichiganrealestatehomes.com/005260

Posted on Mar 06, 2010 @ 7:30 am by russ.ravary - View Profile

russ.ravary

Send feedback »

Commerce Township Demographics - Commerce real estate

If you are thinking about buying Commerce Township real estate you might want to know about Commerce Township Demographics. Here are the demographics from the last census

Social Characteristics - Commerce Township Demographics	Estimate	Percent	U.S.
Average household size	2.70		2.61
Average family size	3.15		3.20

Population 25 years and over	26,573
High school graduate or higher		95.1	84.5%
Bachelor's degree or higher		38.6	27.4%
Civilian veterans (civilian population 18 years and over)	3,087	10.5	10.1%
Foreign born	2,716	6.7	12.5%
Male, Now married, except separated (population 15 years and over)	10,119	64.5	52.2%
Female, Now married, except separated (population 15 years and over)	9,812	62.6	48.2%
Speak a language other than English at home (population 5 years and over)	3,320	8.8	19.6%

Household population	40,406

Economic Characteristics of Commerce Michigan	Estimate	Percent	U.S.
In labor force (population 16 years and over)	22,534	73.0	65.2%
Mean travel time to work in minutes (workers 16 years and over)	29.0		25.3
Median household income (in 2008 inflation-adjusted dollars)	85,085		52,175
Median family income (in 2008 inflation-adjusted dollars)	95,332		63,211
Per capita income (in 2008 inflation-adjusted dollars)	36,900		27,466
Families below poverty level		2.7	9.6%
Individuals below poverty level		4.3	13.2%

Housing Characteristics of Commerce Twp MI	Estimate	Percent	U.S.
Total housing units	15,418
Occupied housing units	14,948	97.0	88.0%
Owner-occupied housing units	14,013	93.7	67.1%
Renter-occupied housing units	935	6.3	32.9%
Vacant housing units	470	3.0	12.0%

Owner-occupied homes	14,013
Median value (dollars)	241,000		192,400

ACS Demographic Estimates	Estimate	Percent	U.S.
Total population	40,406
Male	20,335	50.3	49.3%
Female	20,071	49.7	50.7%
Median age (years)	39.7	(X)	36.7
Under 5 years	2,687	6.7	6.9%
18 years and over	29,401	72.8	75.5%
65 years and over	3,566	8.8	12.6%

One race	39,686	98.2	97.8%
White	38,587	95.5	74.3%
Black or African American	352	0.9	12.3%
American Indian and Alaska Native	165	0.4	0.8%
Asian	435	1.1	4.4%
Native Hawaiian and Other Pacific Islander	21	0.1	0.1%
Some other race	126	0.3	5.8%
Two or more races	720	1.8	2.2%

Hispanic or Latino (of any race)	533	1.3	15.1%

Search Commerce Township homes for sale

http://www.detroitmichiganrealestatehomes.com/005190

Posted on Feb 23, 2010 @ 10:39 pm by russ.ravary - View Profile

russ.ravary

Send feedback »

Metro Detroit land contracts

With so many people having bad credit land contract homes are becoming more common. Right now there are

355 Wayne County homes that accept land contract terms
239 Oakland County homes for sale that accept land contract terms
37 Livingston County Home listings that accept land contract terms
88 Macomb County homes that accept land contract terms
62 Washtenaw County homes for sale that accept land contract terms

Yes there are not an over abundance of home sellers that accept land contract terms. But that is over 750 homes that are available to people that don't qualify to get a bank loan.

If you have had a bankruptcy, foreclosure, or have bad credit a land contract may be the way to get a home for yourself.

Search Michigan homes for sale and get homes that have land contracts emailed to you weekly.

________________________________________________________________________________________________________________________

We could never learn to be brave and patient, if there were only joy in the world.

Helen Keller

http://www.detroitmichiganrealestatehomes.com/005206

Posted on Feb 02, 2010 @ 10:22 pm by russ.ravary - View Profile

russ.ravary

Send feedback »

Livingston County most expensive lake front properties for sale

Here are Livingston County's four most expensive lake front properties for sale as of 1/26/2010. These homes have some great amenities such as:

beautiful lake views
gourmet kitchens
fireplaces
large lots
3+ bathrooms
large garages

These are 30 Livingston County Michigan water front luxury homes priced over $600,000. Here is a little more information on 4 of the top priced homes.

The Cunningham Lake property has lot dimensions of 331X308X1489X1358/10.01acres with a 5 car garage.

The Brighton Lake Rd home has lot dimensions of 126X120X232X192/0.82 acres with a 3 car garage.

The Wyndam Lane home as lot dimensions of 180 X 83X161X210/0.75 acres with a 9 car garage.

The Portage Lake home sits on 27 ACRES with a 3 car garage.

ADDRESS	WATER NAME	LIST PRICE	SQUARE FOOTAGE	BEDROOMS	BATHS.LAVS
CUNNINGHAM LAKE RD	CUNNINGHAM LAKE	1,290,000	3700	4	4.1
BRIGHTON LAKE RD	BRIGHTON LAKE	1,299,000	5074	7	5.1
WYNDAM LN	BRIGHTON LAKE	1,499,000	7789	6	5.2
LANCELOT CT	PORTAGE LAKE	1,525,000	5227	3	3.2

Search Livingston County Lake front homes and Livingston County lake real estate

Information courtesy of Real Comp II Ltd.

http://www.detroitmichiganrealestatehomes.com/0051E4

Posted on Jan 27, 2010 @ 10:03 pm by russ.ravary - View Profile

russ.ravary

Send feedback »

Farmington Hills demographics - Farmington Hills real estate

If you are thinking of relocating to Farmington Hills Michigan and buying a piece of Farmington Hills real estate, here is Farmington Hills demographics. This will give you a glimpse of the city and what it's residents characteristics are.

Population, 2006 estimate	79,793	10,095,643
Population, percent change, April 1, 2000 to July 1, 2006	-2.8%	1.6%
Population, 2000	82,111	9,938,444
Persons under 5 years old, percent, 2000	6.0%	6.8%
Persons under 18 years old, percent, 2000	23.1%	26.1%
Persons 65 years old and over, percent, 2000	14.4%	12.3%
Female persons, percent, 2000	51.6%	51.0%
White persons, percent, 2000 (a)	82.9%	80.2%
Black persons, percent, 2000 (a)	6.9%	14.2%
American Indian and Alaska Native persons, percent, 2000 (a)	0.2%	0.6%
Asian persons, percent, 2000 (a)	7.5%	1.8%
Native Hawaiian and Other Pacific Islander, percent, 2000 (a)	Z	Z
Persons reporting two or more races, percent, 2000	1.9%	1.9%
Persons of Hispanic or Latino origin, percent, 2000 (b)	1.5%	3.3%
Living in same house in 1995 and 2000, pct 5 yrs old & over	55.8%	57.3%
Foreign born persons, percent, 2000	15.7%	5.3%
Language other than English spoken at home, pct age 5+, 2000	18.5%	8.4%
High school graduates, percent of persons age 25+, 2000	91.7%	83.4%
Bachelor's degree or higher, pct of persons age 25+, 2000	47.9%	21.8%
Mean travel time to work (minutes), workers age 16+, 2000	26.0	24.1

Housing units, 2000	34,858	4,234,279
Homeownership rate, 2000	66.9%	73.8%
Median value of owner-occupied housing units, 2000	$227,300	$115,600

Households, 2000	33,559	3,785,661
Persons per household, 2000	2.41	2.56
Median household income, 1999	$67,493	$44,667
Per capita money income, 1999	$36,134	$22,168
Persons below poverty, percent, 1999	4.1%	10.5%

The 2010 census will be taken soon. There are many changes in Farmington Hills demographics in the last ten years. So some of this will be a little inaccurate.

Farmington Hills Michigan information

Search Farmington Hills homes for sale listings

Farmington Hills real estate homes blog

http://www.detroitmichiganrealestatehomes.com/00518A

Posted on Jan 14, 2010 @ 8:55 pm by russ.ravary - View Profile

russ.ravary

Send feedback »

:: Next »