Please excuse our mess as we are under construction
Macomb County Bank Owned Homes
and Foreclosure Property for Sale
|
Realty Executives e-Group
8152 25 Mile - Unit G
Shelby Township, MI 48316
586-336-1506
|
|
Basic
|
Advanced
|
|
|
|
General Information
|
|
Macomb Township
|
Clinton Township
|
Shelby
Township
|
Washington Township
|
Rochester
Hills
|
Sterling
Heights
|
Macomb County Foreclosure Information
Macomb County like most of the Detroit metropolitan areas has hundreds of bank owned homes for sale. Many of the foreclosures are from owners who have lost their jobs. While many others were caught up in adjustable rate mortgages and have been unable to refinance, due to dropping values. The market is also flooded with tons of Short Sales from homeowners that do not want to foreclosure but simply can not sell for what is owed on their property.
Right now about 14% of the condos and homes for sale in Macomb County are bank owned yet over 50% of the homes selling are bank owned. This is making it even more difficult for our private owners to get their property sold.
But there is good news. We use what is called an "absorption rate" to determine how long it will take to sell a home. Currently the absorption rate of homes is just over 10 month and for condos it is 17 months. However, based on pending sales we should see this number begin to change.
To view current homes for sale in Macomb County you can visit our basic home search or for more control on the property you view use our advanced home search.
For a list of Macomb County bank owned homes, REO's and HUD foreclosures use the link below. By clicking on the down arrow you will also have access to several other cities and townships i the Detroit Metro area.
If you need more assistance email us at REO@edandcindyknight.com
|
|
|
 |
| Ed and Cindy Knight |
Realty Executives E-Group
Phone: (586) 336-1506
|
|