Here's our local MLS's current inventory of residential foreclosures (1) in Otsego County.
- 13 homes priced less than $50,000 - Financing available including financing for immediate improvements to update these homes and to earn instant equity at move-in. Ask Mike for details.
- Great locations: Otsego Lake, West Lake Dr., Michaywe, Crestwood, and Glen Meadows
- 4 properties with acreage
- 1 waterfront property - Otsego Lake
- Golf frontage 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!
- Mountain Lakes condo with golf frontage
Earlier this morning Mike Reling's morning radio show on Eagle 101.5 I heard the question asked regarding the volume of foreclosures relative to the total inventory of homes being marketed. I can answer that!
However a disproprotionately high number of foreclosures sell though still far from a majority. In 2010 108 foreclosed residential properties were sold through the MLS in Otsego County. That's 37% of all the residential properties which sold in 2010, which was 295 sales
Michael E. Heath
Coldwell Banker Schmidt Realtors – Realtor Associate
700 W. Main St.
Gaylord, MI 49735
1) The above embedded links are valid until 4/30/2011.
2) Inventory counts are reflective at time this blog post was published; the linked reports will report inventory real-time so qty. will change as status of listings change over time. E.g., if three new foreclosure listings are added by tomorrow at this time and you click one of the inventory links tomorrow at this time, the count will be three more than I report here assuming all other factors remain static.
3) 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 list foreclosures with the seller categorized as 'Corporation'. As of the date of this blog post, all three active listings categorized as 'Corporation' appear to reflect properties owned by corporations relocating the previous owners; so I choose to not report this category as foreclosures. That might lead to under-reporting of foreclosure inventory and sales.