Right now, there are twenty three detached single family homes and twelve condos for sale in this price range. This search is for the Brighton School District, so while some properties fall within city limits, many are in the surrounding townships. Ten of the thirty five units are bank-owned (foreclosures) and another eleven are short sales (selling for less than what is owed and the bank will need to approve the sale).
Five of the units are in a senior (55+ years old) co-op. The co-op units are small (950-1005 sq ft) two bedroom, one and a half bath each and three of the four are priced at $23,900-$42,900.
Four of the thirty five are price reductions and two are expired listings just returned to the market. There are seven new listings in this group, and three of them are very nice condo units in the 1400-1600 sq ft size range, built in 2004. It appears they were purchased by an investor in 2007 and are now offered under short sale terms. These are at the high end of the list at $99,900. When built, these units were going for $160,000 to $190,000.
If you know somebody that is looking for a home on a budget, have them contact me. Brighton is only one of the market areas in which I have experience and expertise. There are still affordable housing programs available and interest rates remain very attractive. There may never be a better time to buy in any price range.
(data from RealComp II, Ltd. MLS)