We lost another one

I have been looking at Detroit foreclosures with a instate investor that is looking for multi-family homes.  Twice now we have been skunked.  Nothing is more frustrating than losing a home that my customer wants.  Both of these Detroit foreclosures sold for at or above list price.  One we bid only a $1000 below and the other we bid full price and we still lost it.  Even Detroit properties are selling!

Get something extra when you buy a home with Russ

Like I have been saying I am seeing the Metro Detroit real estate market picking up.  I am noticing many bank owned properties coming on the market then selling quickly.   Last week I was emailed a list of 12 Macomb Twp foreclosures and homes for sale.  Today when I showed them 7 of them were pending sale.  Only five were left.   From a week ago!!!

Yesterday we put in an offer in on a Farmington Hills ranch home and it had 2 other offers come in on it.  We had to put in a Highest and best offer.  Now I am crossing my fingers that we win it.

It’s not a sellers market, but if a new home (in good shape) comes on the market and it is reasonably priced don’t sit on it.  You may want to consider putting in an offer.  You may not get a second chance at it.


Homes for sale in Farmington MI

Photo courtest of RealComp Ltd  II

Posted in Buyer Tips, First time home buyers, Foreclosures, investment properties, landlord

Search Homes



The data relating to real estate for sale on this website comes in part from the IDX program of Realcomp. Real estate listings held by brokerage firms other than Keller Williams Realty Commerce Market Center are marked with the IDX logo and detailed information about them includes the name of the listing brokers.

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Keller Williams Realty Commerce Market Center shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.