Round Tree is a 223 home sub in Orion Township with entrances off M-24 and Scripps Rd. Houses in Round Tree were built between 1993 and 2003 and range in size from 1828 square feet to 2767 square feet with most of the houses well over 2000 square feet.
Round Tree homes have city water and sewer, sidewalks, community park and abuts Bald Mountain Recreation Area to the east. Lake Orion High School with a swimming pool and tennis courts is across Scripps Road. Round Tree is conveniently located just minutes north of I-75; the exit 81 ramp exits (or enters) at M-24 a few miles south of Round Tree. That exit is also just one exit from Great Lakes Crossing. Orion Oaks County Park and the Bark Park are also within 5 minutes from Round Tree. About 5 minutes north is the public access to all sports Lake Orion.
Many of the homes that have sold this year have been bank owned homes; 6 of the 9 sales were foreclosures, 2 were short sales and 1 "regular" sale. Not very different from 2009 which also saw 9 sales- 5 foreclosures and 4 "regular" sales. The good news is that the sale prices this year are about on par with last year ranging from just over $150,000 to just under $200,000 with the foreclosures selling for the most part for sixty something per square foot and the privately owned homes selling for eighty something per square foot. Many of these homes sold for well over $200,000 new and a couple sold in the mid three hundreds.
In 2003 sale prices in Round Tree ranged from $225,000 to $349,900. At that time things like location in the sub, 4 bedroom versus 3 bedroom, 3 car garage versus 2 car garage were determining factors in pricing. Price per square foot ranged from $107/sq. ft. to $140/sq. ft. In 2009 and 2010 prices seem to be determined more by ownership- the banks heavily discounted their homes and private owners were able to get a bit more.
If you currently live in Round Tree and wish to move (or have to move) and don't want to short sale your house, you might want to consider renting it out. With the amount of people in the Lake Orion area who have lost their homes, the rental market is strong, and if you are considering upgrading in this strong buyer's market, renting your current home in Round Tree may be a viable option.
If you would like to purchase a home in Round Tree that you may not have been able to afford a few years ago, now is a good time to take advantage of the super low prices and low interest rates. Many of the houses currently selling for about $100K less than their previous sale price, but prices have seemed to bottom out. In 2008 there was only 1 sale below $200,000. In both 2009 and 2010 nothing sold above $200,000, and there seems to be really no difference in the prices in 2009 and 2010. Combine that with the fact that Lake Orion/Orion Township prices on average are on the rise (slightly), it truly feels like Round Tree has hit bottom.
Home buyer blog: http://SoutheastMichiganRealEstate.wordpress.com
Home seller blog: http://SellingRealEstateInSoutheastMichigan.wordpress.com