Comments on: The Top 10 Reasons To Not Buy A Home In Michigan Until 2010

By: Brad G

Brad G — Tue, 11 Nov 2008 23:17:27 +0000

@ Alan

I agree about the timing and desire. If you want it, now is a great time to buy. If you wait another year its going to be an ever better time to buy financially speaking.

A 7 bedroom home on an acre lot for $45k is a real find. If it only needed minor work why didn’t it sell for $75k when you have been told its worth $130k? Is it because there were no buyers.

It does not matter what the home was worth prior to the housing market bust. You need to look at what it was worth around 2001 to get a true value of it. If you plan on staying in the home forever or more than 10 years then your not buying it to make money off of it and that’s fine. Its a place to live.

I was not trying to be cold but just stating the facts. I live in Michigan and grew up in a house where my dad was a Pipefitter for Ford’s for 38 years. I buy Ford cars and will continue to do so.

What do you think is going to happen to Michigan property values when Mt. GM and Mt. Chrysler blow their tops. Can you see 20k people out of work all trying to sell their homes against each other on top of the people already trying to sell their homes? Do you think prices are going to drop more? Economics would say so.

By: Alan

Alan — Tue, 11 Nov 2008 19:49:55 +0000

Its all about timing and desire. With the homes going in foreclosure and mortgage companies dumbing these REOs this can be a great time for many people who have the money and planning on making Michigan or any place their home. Three months ago I bought a 7 bedroom home on an acre lot in Michigan for only $45,000 (very minor work need to be done). Several real estate agents in the area have already told me with the litle TLC I have done they could list this home for $130,000 to $150,000 if I wait till spring. They also have told me that this home had been apraised for $217,000 pior to the housing market bust. I work here in Michigan even if I sell this home for the same or little more than I paid it like living here rent FREE.

Your cold statement about a whole state is what has and is killing all the markets. If no one buys an American car or thier parts for 1 year all American car manufactures could be out of business too.

To get the economy growing is by spending (money not Credit) not stop spending as many people have out of FEAR.

*”So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”

*Source: Franklin D. Roosevelt, Inaugural Address, March 4, 1933, as published in Samuel Rosenman, ed., The Public Papers of Franklin D. Roosevelt, Volume Two: The Year of Crisis, 1933 (New York: Random House, 1938), 11–16.

By: Spanish Property for Sale

Spanish Property for Sale — Fri, 24 Oct 2008 11:39:49 +0000

useful information nice to read it.

By: Andrea

Andrea — Thu, 23 Oct 2008 18:01:35 +0000

Chrysler has already cut 1,825 jobs. Check out this article:

http://www.usatoday.com/money/autos/2008-10-23-chrysler-layoffs_N.htm?loc=interstitialskip

The worst is yet to come.

By: Stacey Derbinshire

Stacey Derbinshire — Thu, 23 Oct 2008 15:45:04 +0000

Hello. I was reading someone elses blog and saw you on their blogroll. Would you be interested in exchanging blog roll links? If so, feel free to email me.

Thanks.