{"id":353,"date":"2012-02-22T17:28:41","date_gmt":"2012-02-22T17:28:41","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=353"},"modified":"2012-02-22T17:28:41","modified_gmt":"2012-02-22T17:28:41","slug":"michigan-home-prices-lowest-in-10-years","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/michigan-home-prices-lowest-in-10-years\/","title":{"rendered":"Michigan Home Prices Lowest in 10 Years"},"content":{"rendered":"

\"Michigan<\/a>Our mitten state of Michigan has unfortunately been one of the hardest places hit when it comes to real estate woes.\u00a0 Over the past decade, countless Michigan homeowners have lost their homes to foreclosure.\u00a0 While many others face the reality that the value of their home has been drastically reduced.\u00a0 This is a double-sided event though.\u00a0 As the homeowners suffer from dropping values.\u00a0 The homebuyers are greeted with extremely low values allowing them to purchase amazing home at bargain price.<\/p>\n

The average value of homes dropped a total of 2% from this past December to January.\u00a0 Making the median home price a total of $154,700 making it the lowest price we have faced since November 2001, just before the \u201chousing bubble\u201d occurred and home values skyrocketed.<\/p>\n

For you homeowners, not all hope is lost as sure home values are dropping but so have mortgage rates.\u00a0 If your facing a home that you may be losing value on, you could potentially refinance to some extremely low rates and save yourself a pretty penny thanks to all of the mortgage programs that have been instated as of late.\u00a0 Some of the programs include help for homeowners with mortgages owned\/guaranteed by the Federal Housing Administration.\u00a0 While other loans backed by Fannie Mae and Freddie Mac are susceptible to mortgage refinancing as well.\u00a0 All-in-all homeowners are currently stuck with poor home values until the market, potentially, rebounds in the coming future.\u00a0 Refinancing is something we specialize in and love to help out Michigan-based homeowners with whether they\u2019re in underwater situations or just want to save some money.<\/p>\n

Now whether you\u2019re a first time homebuyer or your veteran of the process towards buying a new home.\u00a0 Today\u2019s values and rates are definitely in your favor.\u00a0 With the value of some homes down 20% and even higher in some situations, you can buy a dream home no matter where it may be located.\u00a0 Previously the only real estate being affected drastically from the crash of the housing market were homes located near the inner city.\u00a0 Well as time has gone on, neighborhoods along the lakeshore to small towns in the Upper Peninsula have all been affected.\u00a0 Truthfully you can select any city you want to live in whether it\u2019s in Grand Haven, Grand Rapids, Traverse City or even Marquette Township.<\/p>\n

Whether you want to refinance under the Home Affordable Refinance Program<\/a> (HARP), FHA Streamline Refinance<\/a> or some help with purchasing a home<\/a>.\u00a0 Be sure to contact our certified loan-officers by calling 1-800-555-2098<\/strong>.<\/p>\n

Looking to refinance?<\/h2>\n\n
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