Here's our local MLS's current inventory of residential foreclosures (1,2) in Otsego County, which includes Gaylord, MI. Twenty-four actively marketed properties represents 5.6% of all Otsego County residential listings, a 38% drop in the share of foreclosures relative to all Otsego County residential listings from early-Spring. The inventory of foreclosures rose slightly to 24 listings though that increase was the percentage increase of all new listings.
This drop in foreclosure inventory could be a significant reason that median prices are running 27% higher over last year's prices in spite of the number of homes sold dropping 17% relative to this time last year.
- 6 homes priced less than $50,000 - Financing available including loans for immediate improvements to update these homes and to earn instant equity at move-in. Ask Mike for details.
- Great locations: Chateau Shores and Michaywe
- 3 properties with acreage
- 3 listings with water frontage, though some others with deeded access.
- Golf frontage condo on Michigan's only Tom Fazio-designed golf course located at Treetops. Good shape, move-in ready at a great price and income producing as well!
- 1 other golf frontage condo on Black Bear
1) The above embedded links are valid until 7/5/2011.
2) Disclaimer: There is no field titled "foreclosures" in our MLS database. Instead Realtors glean foreclosures from two Seller type categories and possibly a third: Repossession and Bankruptcy. Some Realtors may also list their foreclosures with the seller categorized as 'Corporation' though that group of listings predominately to always represents homes purchased by employers to help their employees relocate.