Warren Foreclosure Auctions: Umpteen Numerous Choices
The Warren real estate market currently teems with an impressive range of 1,600 foreclosed homes and houses for sale in the next three weeks. These properties have the median asking price of an inviting $89,000 only. That’s just over half the current average going price for a foreclosed home in the whole of US. There are also 1,247 other MLS and FSBO homes included in the real estate listings auctions to be conducted in Warren shortly. These bear the median quoted price of $94,999. The market snapshot reveals that the foreclosed homes enjoy barely five percent discount over the other homes at market prices. However, what stand out are the extremely low home prices prevailing in Warren. At these rates, not just genuine homebuyers but even professional flippers can find acquiring homes at the Warren foreclosure auctions a lucrative business investment. Flippers buy property cheap and sell upon a rise in their prices to mint marginal profits, which can frequently be enormous, if the smart choices have been made.
Warren is located in Macomb County in the US state of Michigan. Warren is the largest city in Macomb County, the third most populous city in Michigan and the largest suburb of Metro Detroit. Warren is a thriving industrial core, and plays host to the headquarters of several major corporations like Asset Acceptance, the NAC {National Automotive Center}, Big Boy Restaurants International and TARDEC {Tank Automotive Research, Development and Engineering Center}. A few of the sundry suburban cities and towns of Warren are New Haven, Center Line, Washington, Utica, Armada, Eastpointe, Shelby, Sterling Heights, Bruce, Fraser, Richmond, St Clair Shores, Chesterfield, Memphis, Ray, Roseville, Clinton, the county seat of Mount Clemens and Romeo.
Property Brokers Play Vital Role
The Warren real estate listings auctions would be a less lively and relatively lack-luster affair were it not for the property brokers who add pep to the auctions. The brokers inform the buyers of the lucrative deals in the region and help them with their mortgage and bid price decisions. The agents succeed in inducing buyers to buy homes from the sellers. Since the agent typically gets her seven percent commission from the seller, you can avail yourself of the benefit of professional guidance from experienced agents gratis. Mike Kriss, Michael Schultes, John Meeseman and Robert West rank among the prominent property brokers functioning in Warren, and you would be better off with a veteran agent as your ally in your home search.
The Warren real estate market has not remained immune from the larger economic developments taking place in the economy. The US, EU, Japan and other parts of the global economy are in virtual recession. Consumer spending has drastically slowed down in the US, even as home prices steadily continue to slide. The market times remain volatile and uncertain. As a homebuyer, you need know whether waiting for home prices to slide might not be a sensible stance. A seasoned agent will be able to provide you with sage counsel on various tricky decisions you may need to make.
