U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Michigan
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 10-02-2006, 07:04 PM
36 posts, read 65,722 times
Reputation: 22


As most people know, Michigan is dead in regards to the housing market. The bubble burst, lotsa houses for sale, prices dropping, and few buyers due to layoffs and population decline.

Rochester Michigan seems worse off than the rest. Over 1300 homes for sale just in Rochester Hills, most are 30-40% less than they were last year. Right now you can secure a 2200sq Foot 4Bedroom 2Bath house for $189K-220K if you can believe that.

The markets seem to be taking a BEATING throughout Michigan, but some markets are worse than others. Royal Oak is down pretty big, Berkley seems holding fairly steady, Clawson has stabilized, Troy is starting to sag more. Lapeer and areas out that way are dying fast and furiously.

Speaking for my house, it was appraised in Last year for $300,000.00, but I would find it hard to believe if we could get 250K for it on a good day. Our neighbors house started on the market for 200K, and he's down to 188K already with NO offers, and only 2-3 lookers a week.

I think prudent advice is that if you aren't forced to sell, it might be best to hold off, and perhaps wait for up to 5 years before selling or your appreciation will be liquidated.
Reply With Quote Quick reply to this message

Old 10-06-2006, 01:03 PM
Location: Working on relocating
800 posts, read 4,247,994 times
Reputation: 507
Wow, I guess if I wanted my dream house, I could get it now. Kinda sad...I am in a starter home in Utica, so I'll make out well regardless really.

I want to move someplace warm though

I used to want to live in Rochester Hills, but had the traveling bug and used my money that way
Reply With Quote Quick reply to this message
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Loading data...
Based on 2000-2020 data
Loading data...

Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Michigan

All times are GMT -6.

© 2005-2023, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top