Right now there are a number of good quality seized houses in Sterling Heights, MI. Prices are affordable and interest rates are low. According to Trulia.com, there were 914 homes in the foreclosure process for the week ending June 22, 2010. The average listing price for homes for sale in Sterling Heights, MI was $130,128. Buyers/investors have been flocking to Sterling Heights to find good bargains. Treasures can be found on government websites such as HUD and the VA, the local MLS and even the Department of Treasury seized property website.
Why Buy in Sterling Heights?
Sterling Heights is a family community with top notch schools. There are all varieties of housing available in Sterling Heights. It is the fourth largest city in Michigan as far as population is concerned. You will find 23 parks and plenty of recreation activities, good shopping and restaurants. Rental housing is in high demand as well if you are thinking about buying foreclosed houses and renting them out.
Where to Find Seized Properties?
- Local MLS and Realtors. Banks, HUD and the VA list their foreclosure listings with local Realtors.
- Internet websites contain a complete list of foreclosure and seized properties.
- Newspapers are another good source for finding foreclosed houses.
- Property auctions.
- Government websites such as HUD, VA or the Department of Treasury advertise seized and foreclosure listings. Properties that have been seized by the government for immigration or criminal enforcement are deposited in the U.S. Treasury Asset –Forfeiture Fund and are sold at property auctions. Sterling Heights is a terrific place to find seized property bargains at 10%-40% below market prices if you know the right places to look. It is recommended that you work with a local Sterling Heights Realtor who can help you find the best deals and help you negotiate your offer. Government HUD and VA homes require you to make your offer with a Realtor.
Realtors don’t work with foreclosed property auction properties so you have to bid on our own. If you are bidding at a property auction, you must pay cash. The highest bidder is generally awarded the property. Property auctions are a good place to find seized properties so if you locate a property you are interested in; it’s definitely worth making a bid on it. You will get a deep discounted property. Just be aware that you cannot do inspections or get title insurance, and you must be responsible for getting rid of any former owners or tenants that are still living at the property.
Market conditions could not be better for purchasing seized Sterling Heights properties. There is no excuse to wait any longer. Now is the best time to buy foreclosed or seized properties in all neighborhoods. Since no one has a crystal ball as to how long prices will remain this affordable, buyers/investors should take advantage now.