Detroit Real Estate

Here is what is for sale currently in Hidden Lake Subdivision in Green Oak, Michigan.  This is a beautiful sub with waterfalls, a spectacular entrance and a private all sports lake.

Hidden Lakes is tucked back in off the road east of I-23.  Hidden Lakes is one more upscale subdivisions in Livingston County. 

Here are some of the home characteristics of Hidden Lake Estates Green Oak Township Michigan are:

• Home styles includetudors, colonials, ranches, and cape cod home styles
• 3 to 5+ bedrooms
• 2 to 5 1/2 bathrooms
• Most of the home exteriors are brick, stone, and wood
• square footage of the homes range from 3000 to over 7000 + square feet
• 3 + car garages
• all homes have basements and some have walkout basements

Here is what is currently for sale in Hidden Lakes subdivision as of 1/4/2010 

Russ Ravary your Metro Detroit real estate agent

Livingston County lake front homes and lakes

Runyan Lake real estate and lake info

Search Livingston County lake homes for sale

How is Livingston County real estate doing you ask?  Like most of the Metro Detroit real estate market homes are selling!!!! And sometimes selling in a matter of days!!!  That is the good news, the bad news is that Livingston County home prices are way down from the highs of 2003 and 2004.  In some areas homes have lost 50% of their value!!!

If you look at the statistics for real estate in Livingston County Michigan you will notice that that number of sales from 2008 to 2009 are relatively the same.  There have been fewer Livingston County homes sold.  But the big difference is that the median sales price has gone down.  Much of that is due to the fact that the higher end homes over $300,000 are taking longer to sell.  As you go up in price fewer and fewer homes are sold over $500,000.

Livingston County real estate that is priced under $100,000 is selling.

Looking to buy a home or condo in Livingston County give me call if there are any homes that you want to see.  Or join my Livingston County real estate VIP club to get the latest Livingston County foreclosures emailed to you weekly.  You can also search any Livingston County homes for sale listings any time you want when you join the club.

Russ Ravary your Metro Detroit real estate agent serving Livingston County

Click on any of the categories for more information on:

Livingston County water front real estate

Portage Chain of lakes

Metro Detroit Home buyer tips

Livingston County sellers advice

Hamburg Township Lakes, Livingston County MI

Metro Detroit first time home buyers tips and advice series

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My quote of the day is:

Be always at war with your vices, at peace with your neighbors, and let each new year find you a better man. -Benjamin Franklin

Table Information provided courtesy of Real Comp II LTD

Here is what is happening with Livingston County water front homes and water front real estate.  Right now there are only 178 Livingston County water front homes for sale.  They have been on the market an average of 277 days.  About 9 months.  Right now the least expensive home is $59,000 for a 600  square foot ranch in Hamburg. 

The most expensive house is 1.8 million dollars for a 204 acre farm with 1770 square foot ranch in Cohoctah Twp.  On that home you are really just paying for the acreage and I don't even think the house sits on the water.  But the next most expensive house is 1.525 Million dollars for a 5227 square foot house on Portage Lake.

Now that home is more in the realm of reality.  So many Oakland County Lakes are still over priced.  I saw one that was priced over 6 million dollars.   It was over $700 a  square foot.  I think if you can pick up a high end luxury Livingston County water front homefor between the $200 - $300 a square foot on a premium lake you are doing good.  Of course it depends on the lake and the ammenities in the home.  If you could do that in Oakland County you are doing well, especially if it is on a premier lake. 

There is not a lot of Livingston County waterfront real estate for sale.  In fact 157 water front homes sold last year in the county.  So we only have a 1.1 year supply of homes on the water.  Which isn't bad considering Michigan's economy.   The average days on the market was 143 days.

The least expensive home sold for $39,000 on Ackerman Lake in Genoa Township and the most expensive home sold for $950,00 on Woodland Lake Brighton MI.  Now that I think was a good deal.  It was on Woodland Lake and was just built in 2008.

So the bottom line is that Livingston County water front home prices are all over the map.  Some sellers are still living in la-la land of 2003 and thinking their house is worth a lot.  Other homes are being priced reasonable and selling.  The foreclosures are being priced real well but they are few and far between and being snapped up quick.

Chain of Lakes information

Livingston County lake maps

Get the latest Livingston County Lake front home listings emailed to you or search Livingston County lakefront homes

Have a great Day!

 Russ Ravary

YourMetro Detroit real estate agent

The politicians are running all over trying to put band-aids on the Metro Detroit housing market.   NAR is screaming to do this, mortgage lenders are yelling to do that, and real estate agents are saying another something else.  There is no clear plan.  Some Metro Detroit real estate agents are even dumb enough to advocate down payment assistance programs so they can help themselves right now.  The lobbyists are getting rich, and the average American are getting mad at big business, banks, and politicians.  Some of the fixes are helping but they won't be able to fix the Detroit housing market.

The only thing that will fix the Metro Detroit housing market is time.  At issue is the huge home price devaluation.  I don't believe ever in American history before have homes lost 25 - 90% of their value before.  People are stuck in their Metro Detroit homes because they owe more than their house is worth.

Even if they

•  lost their job
•  have a major medical illness that they can't work
•  get a divorce
•  have a death in the family

......they have no way of selling the house.  The option is either to short sale the house or let it go into foreclosure.  This option is not going to change for many years to come no matter what anybody does.

The house has to go back to the bank as a foreclosure.  I had several calls this week from clients who lost a family member but they can't afford to pay the mortgage to sell the house as a short sale.  The house is just isn't worth it.  They are letting it go as a foreclosure.

The second is basic economics.  We have too much supply for the amount of demand.  That again won't change for years.  Because of bank rules every Detroit foreclosure and short sale seller won't be able to buy for 3 to 5 years.  ( Yes you heard me right.....FHA and VA won't let you buy a home for 3 years if you have a short sale)  

Until these Metro Detroit foreclosures and short sellers are back in the market to buy a home the Metro Detroit housing market can't be fixed by anybody, any solution.

We need more Metro Detroit home buyers and the only sources they can come from is:

1. New immigrants
2. Young people buying their first home
3. or the foreclosed people or short sales sellers

 So until time passes and all of these 3 categories of home buyers can increase to meet the supply of foreclosures the Detroit suburb housing market will remain the same.

So my advice to Metro Detroit home buyers is to buy for the long term.  Plan on living in the home for 5 years +.

Russ Ravary your Metro Detroit real estate agent

helping Oakland and Wayne County real estate buyers and sellers (Michigan)

 Livingston County Lakefront homes for sale 

 In the last year 167 Livingston County lakefront homes have sold for an average price of $259,193  and were on the market an average of 126 days.  There even was one home that sold for as little as $20,000.  Right now there are 287 Livingston County lake homes for sale and they have been on the market an average of 233 days.

So taking all this into account there is about a 1.71 year supply of Livingston County lakefront homes for sale.  If you are looking to buy a lakefront home soon give me a call or email me with any questions.

Search Livingston County lake front homes for sale and get the latest listings emailed to you weekly!

Russ Ravary your Metro Detroit real estate specialist

My quote of the day is:

Each day is a gift use it wisely

Comp information courtesy of RealComp II Ltd