Southfield foreclosure homes offer unbelievable value for money with many features not expected in a price range averaging $100,000 for a family home. Much of the character of Southfield is reflected in the large homes and huge lots featuring in foreclosure listings. Southfield city, located in Oakland County, with Southfield Township on the north side, is a part of older metro Detroit, known for its ethnic diversity, safe, middleclass neighborhoods, and reasonable cost of living. The main population growth occurred in the late 1990's when residents from Detroit´s inner city sought a change of lifestyle by moving to the suburbs. With high unemployment in the state of Michigan following large job losses in the auto manufacturing industry, and a persistently weak economy, prices of real estate generally have started to trend down, and buyers searching for foreclosure houses in locations where larger discounts are guaranteed know that the value to be found in foreclosed properties will only get better.
| ZIP CODE | LOCATION | BD/BH | PRICE | DETAILS |
|---|---|---|---|---|
| 48076 | Southfield, MI | 3/1.5 | $37,700.00 |  |
| 48075 | Southfield, MI | 4/21 | $69,900.00 | |
| 48076 | Southfield, MI | 4/3 | $204,000.00 | |
| 48033 | Southfield, MI | 3/2 | $1,000.00 | |
| 48076 | Southfield, MI | 2/2 | $1,000.00 | |
| 48076 | Southfield, MI | 3/3.5 | $167,500.00 | |
| 48033 | Southfield, MI | 4/2 | $129,900.00 | |
| 48076 | Southfield, MI | 3/1 | $67,000.00 | |
| 48034 | Southfield, MI | 4/3 | $99,000.00 | |
| 48076 | Southfield, MI | 3/1 | $24,800.00 | |
Preforeclosure filings in Southfield are now averaging 500 a month and many that make auction end up in the lenders large stocks of foreclosed homes. This is one suburban region where Banks and Lenders are really motivated to agree with flexible pricing packages pursued in buyers´ bids on foreclosed properties. Keen buyers are not limited to searching through bank REO for desirable below market value foreclosed homes; there is also a range of HUD, VA and other institutional repossessed single and multi family homes to be viewed.
Experienced auction attendees have time to research titles and property conditions and set limits to their bids, and will walk away from bids nearing market value knowing that there are many more leads available if not this week , then in the next. Activity from would be investors is high in the pleasant neighborhoods of Nine mile, Greenfield, Telegraph and Buck, and Farmington Hills. Those new to this market and Southfield foreclosures should not be deterred. There is much available in Michigan Foreclosure Homes from which to select potential property, several desirable areas from which to choose, and for the foreseeable short-term future, more fresh filings on the horizon.
