Halloween Is Going To Suck This Year!

This is a funny picture but so true. This tells the tale of what is going on in the real estate market here in Metro Detroit and really throughout most of the entire country now.  Unfortunately kids will have to walk to many more homes to get the same amount of candy because of all the Michigan bank owned foreclosures and empty houses.  Everybody thinks that just because the house is a foreclosure that it is the steal of the century. This is just not true. Banks are in the business to try to recoup as much money as they can and giving houses is not what they want to do. They have their own appraiser go out and tell them what the value of the house is including the repairs needed. Sure they may discount it 3%-5%, but again is that really a bargain when you take into account the money you have to pull out of your pocket after closing to fix it up. For more information on the latest news and real estate market updates on the Metro Detroit Real Estate Market visit my Blog.

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