What is the best bargain in Metro Detroit homes? Is it ranches, is it colonials, or is it bungalows.
I am seeing Metro Detroit area colonial homes going for some great prices. A 900 - 1000 square foot ranch in many Wayne County and Oakland county cities are still fetching $125,000 -150,000. They have dropped in price but not as drastically as other types of hones. You can find some real bargain ranch in cities like Dearborn Heights, Garden City, Redford, Garden City and Westland MI. In fact in some cities you can find bargain Metro Detroit ranch homes 900 -1000 square foot as cheap as $70,000. 
Colonial homes in many cities are a tremendous bargain. When choosing between a big ranch at $170,000 versus a colonial at $190,000 I think the bargain will be in the colonial home. The question for you is can you afford to move up to a higher price range. Remember you have to be able to afford to heat and maintain the bigger colonial home. But if you can afford the bigger home I believe you will get better appreciation on the colonial home when the market comes back.
Many Metro Detroit colonials start in the 1700 square foot range. I am seeing bargains all the way up to the 3500 square foot colonial homes. Today I was doing a comparative market analysis on a client's home. I was looking through recently sold Farmington Hills colonial homes. I was looking at was 2600 -3000 square feet range. Here are some of the recent bargain Farmington Hills colonials I saw:
- 2900 sq ft Farmington Hills foreclosure that sold for $220,000
- 2868 sq ft Farmington Hills foreclosure that sold for $207,000
- 2793 sq ft fully updated Farmington Hills colonial home for $270,000
That 2793 square footFarmington Hills colonial home had an updated kitchen, updated bathrooms. A beautiful Farmington Hills colonial. A colonial that was completely updated and ready to move in for less than a $100 a square foot! Now that is a Metro Detroit real estate bargain! Who wouldn't like a home like that.
You can find bargain colonial homes in Canton, Livonia real estate, and even in Plymouth Michigan. But you can find great deals in Wayne County bungalows, and Wayne county ranches. Lots of homes to chose from. Call me to get started.
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Photos, Comp and Listing Information Courtesy of Realcomp II Ltd, Properties shown have been listed and sold by various MLS member REALTOR® agents,
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