Kalamazoo real estate
With the current Michigan market, there is a lot of Kalamazoo MI real estate for sale.
The unusual name Kalamazoo has been featured in songs, movies and even an opera. T-shirts bearing the slogan, “Yes, there really is a Kalamazoo!” are sold are street corners. If you are interested in Kalamazoo real estate, you may already know about the t-shirts and the songs, but our aim is to provide useful information about buying a home (even if you have credit problems) and selling (particularly if you are having trouble finding a buyer).
The city is named for the river. The word is believed to originate with the Potawatomi or Odawa natives who traditionally inhabited the area. Historically, it was a fur trading center. More recently, it earned the nickname of “Mall City”, when Kalamazoo MI real estate investors designed the first US shopping mall in 1959.
Educational opportunities are a major attraction for newcomers, developers and parents of school age children. It is the home of Western Michigan University, Kalamazoo College, Kalamazoo Valley Community College and Davenport University. Because of the Kalamazoo Promise, any student who attends Kalamazoo Public Schools for grades K-12 and graduates from high school with a C average or better will have 100 percent of his or her tuition paid to attend any of Michigan’s state colleges or universities. The percentage paid is 65-95% for students who transfer to Kalamazoo Public Schools, depending on the number of years attended.
Early indicators have shown that the “Promise” has led to an increase in asking prices for Kalamazoo real estate, particularly in those neighborhoods surrounding the public schools.
Current Kalamazoo MI Real Estate Market
Kalamazoo real estate listings include properties in 22 different neighborhoods covering about 24 square miles. According to the MLS listings, there were 1546 properties available in January 2007. There were an additional 500 homes in the FSBO listings and another 323 foreclosures. If you are a buyer, you have a lot to choose from.
The median prices for Kalamazoo MI real estate range from $125 to $135 thousand. Foreclosures and properties in disrepair are selling for less. The National Association of Realtors has reported that the market could be stabilizing, based on an indicator known as the Pending Home Sale Index, but they will not know for sure, until later in the year. HSBC, one of the largest banks in the world, hopes the market is stabilizing. They blame a decreased profit last year on increased “defaults on home loans” or foreclosures.
For the Frustrated Seller
If you are having trouble selling Kalamazoo real estate, we may be able to help. We are experienced Michigan real estate investors. If you are willing to work on terms or accept a lease option agreement, we may be able to find a buyer for your property, quickly.
A lease option is a simple agreement between the potential buyer and you, the homeowner. We can work out the details and handle the negotiations. This option is becoming increasingly popular in Michigan. Homeowners are being transferred by employers or must move for other reasons and the market is slow. They sometimes end up with two mortgages, as they wait for a buyer. With a lease option agreement, one mortgage is paid, giving the owner some breathing room and possibly preventing foreclosure.
Buying Kalamazoo MI Real Estate
Maybe you are having trouble buying Kalamazoo MI real estate. State economic struggles and cut backs in industry and manufacturing cause individual financial problems. Many residents were unemployed for a time. And, whether or not a regular paycheck is coming, the bills come regularly. Even a few late payments on the credit cards can negatively affect a person’s credit score. If this sounds like your history, then you are not alone.
It may be best to avoid those “high risk” loan offers. They often end in foreclosure. A lease option plan (also known as a rent to own) is a better place to start rebuilding and repairing the damage done to your credit. If you are currently renting, then a large portion of your hard earned money is going down the drain. Yes, you have a place to live, but you are not investing in your future. With a lease option on Kalamazoo real estate, you could be.
Find out how we can help you buy a rent to own home and start building equity rather than making a landlord rich.
Dan Ho is a real estate investor in Michigan. Visit Kalamazoo real estate to learn more about the advantages of a rent to own (lease option) for buyers and sellers.
http://www.buy-sell-michigan-real-estate.com is the definitive resource online for buyers and sellers of homes in the state of Michigan.