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The Bank bailout and Metro Detroit

Here in Southeastern Michigan it doesn't seem that the bank bailout is that important.  None of our local Michigan banks have failed right?

Unfortunately we need the bank bailout for the simple reason, that the banking industry will become stabilized.  We need banks to continue to loan money.  If there is no stabilization of the banking industry then student loans, credit cards, and business loans will become much harder to get. Mortgage interest rates will rise if there is not enough money around.  Do we need higher rates to further slow down the Metro Detroit housing market.

I had a client that had great credit scores (over 750) get turned down for a credit card.  He makes good money, he has money in the bank.  He is a good credit risk.  I would loan my money to him.  He just wanted to switch credit cards to get airlines points.  But the bank said no.  If there is no bank bailout many businesses will not get loans.  Interest rates will go up. Remember the days of 15% - 18% mortgage rates?

We don' t need those times back.  But will the bank bailout solve the Metro Detroit Real estate problem?  No unfortunately there is nothing that the government can do to resolve the real estate problems.  It is going to take time.  There are too many Metro Detroit homes for sale and not enough home buyers.  And there won't be enough home buyers for these Livonia homes, or Canton Homes because many people can not qualify for a home loan.  But if there is no bank bailout home buyers won't be able to get their home loan approved.  So fewer Canton Homes will be sold, fewer Novi homes will be sold.  We need the bailout even though many people don't realize it.

Tighter restrictions have reduced the number of available buyers.  It will take five  -  ten years before we have a resurgence in Metro Detroit housing market..  But hang in there and keep paying your home mortgage down.  Life within your means.  The Metro Detroit Housing market will come back.  We can all weather this economic storm together.  We will come out of this standing up.  But the key is to keep enjoying life with your family and friends as we go through these tough times..   Take Care   Russ Ravary



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Posted on Oct 05, 2008 @ 9:50 pm by russ.ravary - View Profile
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Nottingham Woods Subdivision, Livonia MI

Livonia Real Estate 

Nottingham Woods subdivision is actually 4 subdivisions .  Nottingham Woods has approximately 245 homes in it.  The homes were built during the years of 1967 - 1974. 
The homes are mostly Colonial, ranch, and Cape Cod style.  Most of the homes have brick exteriors, 2 & 3 car garages, 3-4 bedrooms, 2 + bathrooms, basements.

Square footage of the colonial homes range from 2000 - 2400 square ft.
Square footage of the ranch homes range from 1800 - 1900 square ft

All of the above information is general information.  We do not guarantee the information.  This is to give a guide to the subdivision. 

The school district is Livonia Public Schools

The location of the subdivision is between 5 and 6 mile roads and between Merriman and Farmington Roads.

The streets that are in the Nottingham Woods subdivision are:

Wayne Rd                                Yorkshire St
Hampton Ct                             Cambridge St
Curtis                                        Shrewsbury St
Country Club Dr                       Canterbury St
Bennett St                                 Balmoral Ct
Gardner St                                Balmoral Dr
Northgate Dr
Brookview Dr
Vargo St
Edgewood St
Hubbard St

 

Here is the latest Livonia real estate market update for Nottingham Woods Subdivision Neighborhood  as of September 3, 2008.

There are 4 Livonia homes for sale currently in the sub.  The average list price is $295,925 and on the average has been on the market for 198 days. 

On-Market Residential
Price Address Bed Bath  
$234,900  1745 N EDGEWOOD ST 4 3  
$259,900  3541 CURTIS RD 4 2.1  
$339,000  3541 GARDNER ST 4 3.1  
$349,900  3217 BALMORAL DR  4  2.1   
     

IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY LIVONIA HOMES FOR SALE OR GET MORE INFORMATION ON THESE HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855

Here are all the Livonia homes that have sold in Nottingham Woods, Livonia, MI in the last year as of 9/3/2008.

Off-Market Residential
Status Price Address Bed Bath OffMktDt    
LEASED $1,600 35238 VARGO ST 3 2.1 9/26/2007    
LEASED $1,600 35238 VARGO ST 3 2.1 6/20/2008    
LEASED $1,800 17522 EDGEWOOD ST 4 2.1 8/29/2008    
PEND $205,000 31861 BALMORAL CT 4 2.1 12/3/2007    
SOLD $245,000 18014 COUNTRY CLUB DR 4 2.1 9/19/2007    
SOLD $290,000 16885 CANTERBURY ST 4 3 6/3/2008    

2 Livonia homes have sold in the Nottingham Woods Subdivision last year with an average price of $267,500 after being on the market an average of 82 days.


The trend in Metro Detroit real estate is downhill if you look at several of these subdivision updates.  Livonia real estate home values are continuing to fall, but the time on market for Livonia homes for sale is about the same.  Even though Livonia real estate home values are falling they are falling about the same as the rest of Wayne County home values.  The City of Detroit home values are falling faster than Livonia´s. 

For more Northville Subdivision updates, or Livonia real estate updates check out the Michigan real estate Market reports on the side categories.  You can search Michigan homes for sale on my other website for free. 



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Posted on Oct 02, 2008 @ 6:32 pm by russ.ravary - View Profile
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Downtown Northville real estate update MI

Northville Real Estate

Northville Subdivisions
Downtown Northville

Northville Links

Downtown Northville.  

   The homes were built during the years of 1860 -2007.

The homes are mostly Victorian, bungalow, Colonial, ranch, and Cape Cod style.  Most of the homes have vinyl, wood, brick/vinyl, brick exteriors,  car garages, 2-6 bedrooms, 1 + bathrooms, basements.

Square footage of the homes range from 700 - 6600 square ft.


All of the above information is general information.  We do not guarantee the information.  This is to give a guide to the subdivision. 

The school district is Northville Schools 

The location of the Downtown Northville is between 7 and 8 mile roads and between Northville Road and Beck.

Some of the streets that are in or near the Downtown Northville area are:

Grace St              Carpenter St               Bloomcrest Dr
Horton St              Lake St                       Lexington Blvd
Rayson St            W Cady St                  Potomac Rd
E Cady St            W Main St
S Wing St            N Wing St
1st St                    Fairbrook St
S Rogers St         N Rogers St
W Dunlap St        E Dunlap St
West St                High St
Thayer Blvd          Eaton Dr
Spring Dr             Dubuar St
Clement Rd         Orchard Dr
Scott Ct                Caldwell St
Randolph St         Elm St
East St                  Potomac RD  

 

Here is the latest Northville real estate market update for Downtown Northville as of September 3, 2008
There are 36 homes currently for sale in the sub.  The average list price is $516,736 and on the average has been on the market for 221 days

On-Market Residential
Price Address Bed Bath
$139,000  618 CARPENTER ST 2 1.1
$159,900  390 1ST ST 2 1.1
$169,000  368 N ROGERS ST 3 2
$179,900  394 1ST ST 2 1
$200,000  122 S ROGERS ST 4 2
$215,000  426 EAST ST 3 2
$229,900  613 CARPENTER ST 3 1.1
$238,000  520 GRACE ST 4 2
$269,900  508 W MAIN ST 2 2
$298,000  21456 SUMMERSIDE LN 3 2.1
$299,888  20531 CLEMENT RD 4 2.1
$299,900  129 BASELINE RD 4 2
$324,900  21508 SUMMERSIDE LN 4 2.1
$345,000  552 W DUNLAP ST 3 1.1
$359,900  815 SCOTT ST 4 2
$370,000  359 N ROGERS ST 4 2
$375,000  436 RANDOLPH ST 3 2
$387,000  217 W DUNLAP ST 4 2.1
$399,900  113 HIGH ST 3 2
$459,900  620 CENTER ST N 4 2.1
$519,900  628 W MAIN ST 4 3
$549,000  515 LINDEN CT 4 3.2
$550,000  665 POTOMAC ST 5 3.1
$599,000  400 ORCHARD DR 4 3.1
$599,000  210 S ROGERS ST 3 2.2
$599,900  728 HORTON ST 4 3.1
$609,900  18098 CASCADE DR 4 3.1
$619,900  335 LINDEN ST 3 2.2
$640,000  124 HIGH ST 4 3
$759,000  619 EAST ST 4 5.1
$799,900  413 RANDOLPH 4 2
$989,000  480 ORCHARD 4 4.1
$1,199,000  710 W MAIN ST 5 3.1
$1,199,999  44555 WOODLAND PARK 4 4.1
$1,300,000  744 THAYER BLVD 4 5.2
         
$1,349,000  521 DUBUAR ST                   4        5.2  


IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE THE INSIDE ONE OF THESE LOVELY NORTHVILLE HOMES OR NEED MORE INFORMATION ON THESE HOMES FOR SALE EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855

Here are all the homes that have sold in Downtown Northville, Northville, MI in the last year as of 1/1/2008

Off-Market Residential
Status Price Address Bed Bath OffMktDt
SOLD $105,000 404 BEAL ST S 3 1 10/6/2007
SOLD $148,000 320 LINDEN 3 2 1/14/2008
SOLD $180,000 1003 SPRINGFIELD CT 5 3.1 5/30/2008
SOLD $188,400 507 BEAL ST 3 2 9/12/2007
PEND $189,500 325 PENNELL ST 3 1 8/15/2008
SOLD $200,000 19150 BECK RD 3 2 8/15/2008
SOLD $210,000 500 W CADY ST 3 1.1 7/3/2008
SOLD $220,000 235 HIGH STREET 3 2.1 1/23/2008
SOLD $240,000 20667 LEXINGTON CT 4 2.1 7/3/2008
SOLD $250,000 444 YERKES ST 3 2.1 3/5/2008
SOLD $252,500 605 EAST ST 3 1.1 1/17/2008
SOLD $261,000 561 CARPENTER ST 4 3 5/1/2008
SOLD $281,400 511 W CADY ST W 3 2.1 9/4/2007
SOLD $305,000 121 WEST ST 3 1.1 2/14/2008
SOLD $330,000 605 RANDOLPH ST 4 2 8/23/2007
PEND $350,000 543 W DUNLAP 3 1.1 8/28/2008
SOLD $370,000 789 THAYER BLVD 4 3 5/1/2008
SOLD $448,000 649 HORTON ST 4 2.1 11/23/2007
SOLD $490,000 535 LINDEN CT 4 3 1/22/2008
SOLD $492,500 541 LINDEN CT 4 3.1 5/5/2008
PEND $545,000 542 W DUNLAP ST 3 2.1 8/13/2008
SOLD $600,000 550 HIGH ST 4 4.1 3/14/2008
SOLD  $650,000  654 HORTON ST  4  3.2  10/31/2007 
         
20 Northville homes have sold in Downtown Northville in the last year with an average price of $311,090 after being on the market an average of 143 days.

For more Metro Detroit real estate information search the categories on the side.  To Search Metro Detroit real estate go to my other website Livonia real estate

 



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Posted on Sep 04, 2008 @ 8:38 am by russ.ravary - View Profile
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Kimberly Oaks subdivision Livonia real estate update

Livonia Real Estate & Livonia Subdivisions


Kimberly Oaks, Livonia, MI

Kimberly Oaks subdivision is actually 4 subdivisions .  Kimberly Oaks is located near Livonia city hall Kimberly Oaks has approximately 690 homes in it.  The homes were built during the years of 1959 - 1968. 
The homes are mostly Colonial, split level, and ranch style.  Most of the homes have brick exteriors, 2 car garages, 3-4 bedrooms, 1 & 2 + bathrooms, basements.

Square footage of the colonial homes range from 1800 - 2900 square ft.
Square footage of the ranch homes range from 1000 - 1600 square ft
Square footage of the split level homes range from 1600 - 2100 square ft


All of the above information is general information.  We do not guarantee the information.  This is to give a guide to the subdivision. 

The school district is Livonia Public Schools

The location of the subdivision is between Schoolcraft and 5 mile roads and between Merriman and Farmington Roads.

The streets that are in the Kimberly Oaks subdivision are:

Loveland St
Grennada St
Westmore St
Lyndon St
Allen St
Martin St
Barkley St
Oakley St
Hubbard St
Farmington Rd
Summers St
Middleboro St
Mayfield St
Perth St
Scone St

 

Here is the latest Livonia real estate market update for Kimberly Oaks Subdivision Neighborhood  as of September 2, 2008.

There are 7 Livonia homes for sale currently in the sub.  The average list price is $199,229 and on the average has been on the market for 167 days. 

On-Market Residential
Price Address Bed Bath
$1,599 FOR LEASE 1453 HUBBARD ST 4 2.1
$1,600 FOR LEASE 3293 SCONE ST 4 2.1
$167,500  3219 ALLEN ST 4 2.1
$169,900  3304 PERTH ST 4 2.1
$182,500  3297 MARTIN ST 3 2.1
$199,900  3293 SCONE ST 4 2.1
$204,900  1430 CRANSTON ST 4 2.1
$219,900  3239 SCONE ST 4 2.1
$250,000  1453 HUBBARD ST 4 2.1

IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY LIVONIA HOMES FOR SALE OR GET MORE INFORMATION ON THESE HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855

Here are all the Livonia homes that have sold in Kimberly Oaks, Livonia, MI in the last year as of 9/2/2008.

Off-Market Residential
Status Price Address Bed Bath OffMktDt
LEASED $875 14263 WESTMORE ST 1 1 9/14/2007
LEASED $1,700 32907 MIDDLEBORO ST 4 2.1 5/28/2008
PEND $117,500 33146 LYNDON ST 3 2.1 8/23/2008
SOLD $123,000 14027 WESTMORE ST 3 1.1 6/3/2008
SOLD $128,300 32956 MARTIN ST 3 2 2/11/2008
PEND $129,000 33045 BARKLEY ST 4 1.1 8/27/2008
SOLD $131,250 33209 LYNDON ST 3 1.1 11/19/2007
SOLD $143,000 33040 ALLEN ST 3 1.1 10/26/2007
SOLD $143,000 32742 OAKLEY ST 3 1.1 4/2/2008
SOLD $150,900 33058 ALLEN ST 3 1.1 9/17/2007
SOLD $155,000 32928 SUMMERS ST 3 1.1 2/29/2008
SOLD $157,500 14355 BLACKBURN ST 3 2 4/9/2008
SOLD $159,000 14140 MAYFIELD ST 3 1.1 3/13/2008
SOLD $161,000 33027 ALLEN ST 3 1.1 8/5/2008
SOLD $165,000 14375 HUBBARD ST 4 2.1 11/2/2007
SOLD $168,000 14393 HUBBARD ST 3 1.1 8/17/2007
PEND $169,000 33018 SUMMERS ST 3 1.1 3/14/2008
SOLD $169,000 33039 LYNDON ST 3 1.2 6/1/2008
SOLD $170,000 32676 SCONE ST 3 1.1 12/27/2007
SOLD $178,500 32550 BARKLEY ST 4 2.1 1/11/2008
PEND $179,900 33047 MIDDLEBORO ST 3 2.1 8/24/2008
PEND $184,900 33159 SCONE ST 4 2.1 7/28/2008
SOLD $188,000 32944 MIDDLEBORO ST 5 2.1 11/12/2007
SOLD $200,000 32611 LYNDON ST 4 2.1 2/6/2008
SOLD $202,000 32938 SCONE ST 4 2.1 11/9/2007
SOLD $202,000 32926 SCONE ST 4 3.1 11/2/2007
SOLD  $220,000  33126 OAKLEY ST  5  2.1  9/12/2007 
         
20 Livonia homes have sold in the Kimberly Oaks Subdivision last year with an average price of $165,723 after being on the market an average of 95 days.


You will notice the trend in Metro Detroit real estate if you look at several of these subdivision updates.  Livonia real estate home values are continuing to fall, but the time on market for Livonia homes for sale is about the same.  Even though Livonia real estate home values are falling they are falling about the same as the rest of Wayne County home values.  The City of Detroit home values are falling faster than Livonia´s.

Search Livonia homes for sale on my website Livonia real estate



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Posted on Sep 02, 2008 @ 6:35 pm by russ.ravary - View Profile
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Woods of Edenderry Subdivision market update

Northville Twp, MI

Northville Real estate update

Northville Subdivisions
Woods of Edenderry

This webpage is meant to help not only the public to learn more about the good aspects of Woods of Edenderry but also for the residents of Woods of Edenderry.  Make it your own webspace and tell how nice your sub is.  If you as a resident would like to add information or something that is happening in Woods of Edenderry please email me at info@russravary.com
 

Northville Links

Related Links
Woods of Edenderry subdivision is actually 4 subdivisions with one homeowners association.  Woods of Edenderry has approximately 109 homes in it.  The homes were built during the years of 1995 -2004.

The homes are mostly Colonial and Cape Cod style.  Most of the homes have brick exteriors, 3 car garages, 4-5 bedrooms, 2 + bathrooms, basements.

Square footage of the homes range from 2800 - 7100 square ft.

All of the above information is general information.  We do not guarantee the information.  This is to give a guide to the subdivision. 

The school district is Northville Schools 

The location of the subdivision is between 6 and 7 mile roads and between Sheldon and Beck Roads.

The streets that are in the Woods of Edenderry subdivision are:

Stonebrook Dr
Stonebrook Ct
Cranbrook Dr
Rustic Hills
 
Here is the latest Northville real estate market update for the Woods of Edenderry Subdivision Neighborhood as of August 19, 2008.

There are 6 Northville homes for sale currently in the sub.  The average list price is $902,300 and on the average has been on the market for 208 days

On-Market Residential
Status Price Address Bed Bath
FOR LEASE  $8,000  1777 STONEBROOK DR 4 6.2
  $549,000  1713 STONEBROOK DR 5 4.1
  $600,000  1777 CRANBROOK DR 4 4.1
  $749,900  1739 STONEBROOK DR 4 4.1
  $949,900  1784 CRANBROOK DR 5 4.2
  $975,000  1759 CRANBROOK DR 5 3.2
  $1,950,000  1777 STONEBROOK DR 4 6.2

IF YOU OR ONE OF YOUR FRIENDS, OR CHILDREN WOULD LIKE TO SEE ONE OF THESE LOVELY HOMES EMAIL ME AT INFO@RUSSRAVARY.COM OR CALL ME ON MY CELL AT 313-310-9855

Here are all the Northville Twp homes that have sold in Woods of Edenderry, Northville, MI in the last year as of 8/19/2008.

Off-Market Residential
Status Price Address Bed Bath OffMktDt
SOLD $1 17729 STONEBROOK CT 6 4.2 4/4/2008
LEASED $3,700 17639 CRANBROOK DR 4 4.1 6/17/2008
PEND $465,402 17290 STONEBROOK DR 4 4.2 7/18/2008
SOLD $530,000 17327 STONEBROOK DR 5 4.1 6/26/2008
SOLD $560,000 17694 CRANBROOK DR 3 3.1 8/23/2007
SOLD $650,000 17871 STONEBROOK DR 5 4.2 4/30/2008
SOLD $658,000 17623 STONEBROOK CT 4 3.2 7/30/2007
SOLD $750,000 17610 STONEBROOK DR 5 4.2 11/29/2007
SOLD $790,000 17730 STONEBROOK CT 4 4.2 8/29/2007
SOLD  $872,000  17671 CRANBROOK DR  4  4.2  5/29/2008 
         
7 Northville Township homes have sold in the Woods of Edenderry Subdivision last year with an average price of $687,143 after being on the market an average of 330 days.


You will notice the trend in Metro Detroit real estate if you look at several of these subdivision updates.  Northville real estate home values are continuing to fall, but the time on market for Northville homes for sale is about the same.  Even though Northville real estate home values are falling they are not falling as much as the rest of Wayne County home values.

 

 



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