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My young buyer was so happy. She got her bid accepted after three previous failed bids. She was so excited. She was looking at low price homes and Westland foreclosures. The issue she had was that the houses she was looking at were in the 30 and 40 thousand dollar range.
In that range many investors will pay cash. My buyer had to get a mortgage. So she was losing out to investors because even though she had a great bid that was comparable to the investors the banks were taking the investors bids because they were cash.
I love it when one of my clients win the home they want when the cards are stacked against them. Congratulations Sarah on getting a winning hand!!!!

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I have been helping a young lady try to buy her first home in Westland. We have been finding some good houses but the problem is that she is losing the bids. She has a limited amount of money and the price range she is in attracts a lot of investors.
We have lost 2 homes lately because the cash buyers are winning over her mortgage bid. She has bid over the asking price but she has lost the homes. And she can't go any higher. So today we went out and put a bid in on another house. It was a nice house, so I need some prayers from my fellow active rainers.
I need some good vibes. The price point my buyer is interested in is the $20,000 to $35,000 price range. Believe it or not you can get some very nice ranches or bungalows in the Metro Detroit real estate market in that price range. 1 out of 20 are a great deal. (And of course that is what we are bidding on)
The others need work. Who knows if we keep losing the bids we may have to step back and go for some of the ones that need a little work. The investors are no dummies and are bidding above list to get the home. And of course the banks are going to accept a cash offer over an offer with a mortgage. The banks will sometimes even accept a little lower priced cash offer because they feel it is a sure thing. But we are going out there and bidding our best to get it.
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Today I was showing a young lady Westland foreclosures. She doesn't make a lot of money, she only works at IKEA. But Westland, Garden City, Inkster, Wayne, and Dearborn Heights have lots of foreclosures under $50,000.
You can get a 800 to 1200 square foot ranch or bungalow for as little as $15,000. Sure in that price range they are going to need work and TLC but in the upper $40,000 range you are going to find some very nice homes.
Many of the Garden City foreclosureswhere nicely updated. Most were built in the 1950's yet they had newer windows, decent roofs, some with updated kitchens and baths. Sure they don't have granite counter tops.
I met a young man with his grandfather peeking in the windows of one Westand foreclosure that was listed for $19,000. I let them in to take a look at it. They asked me what I thought of the house. I told them, sure it wasn't in top shape but you couldn't build the frame of the house for $19,000. Where could you live for $350 a month. Because with a mortgage payment, taxes, and insurance that 's what it would add up too.
That's what is great about some of these reasonable Metro Detroit homes for sale. You can buy a house and live cheaper than you can rent an apartment. You own the place, you can get a tax deduction for the interest you pay. That's why it is a great time to buy metro Detroit foreclosures.
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A little bit about Westland MI
Westland MI is what I would call a "blue collar" town in Western Wayne County. Westland is just one of many of Metro Detroit suburbs. It is a working mans town. You won't find any mega mansions here. People are more apt to drive a pickup truck or SUV than a foreign car in this car company suburb.
Sure you might find a Jaguar, Mercedes, or Lexus parked here in the City of Westland but you will see more Fords, Chryslers, and GM vehicles parked in the driveway of Westland residents.
Westland MI primary home styles are ranches and bungalows with basements. The bungalows are usually about 1000 to 1200 square ft and the ranches range from 1000 up to 1800 square feet. Many of the homes were built in the 1950, 1960s, 1970's, 1980's. Though after the 1980's there have been many nice 1600 - 2500 square foot colonials built.
Here are a few sites that have more info about Westland
If you want to get the latest bargain Westland homes for sale emailed to you as they come on the market Join my Westland homes for sale VIP club. You can also sign up for other cities and Westland foreclosure listing to be emailed to you on the same page.
Russ Ravary your local Westland Realtor
Westland real estate blog
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Q. I'm interested in a Westland MI home that's a short sale. Who pays for real estate city inspections and how do I know if one has been done?
A. Unless specifically negotiated in the purchase agreement, it's the seller's responsibility to schedule and pay for the inspection, which is $180 for a single family residence. A City inspector reviews the major mechanical systems, health & safety items, and any issues that violate the Property Maintenance Codes.
Call the City of Westland Building Department at (734) 467-3210 to see if the inspection has been completed. If it has, you can go into their office and review the report. If it hasn't, I'd have your agent call the listing agent to find out when they plan to do it.
Since it's a short sale, if there are any issues that need to be addressed from the inspection, the seller may not have the funds to address the issues. Because the inspection period can take 3-4 weeks, it's important that it be done ASAP so that the bank is aware of any issues that need to be addressed to sell the property.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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