Investor Alert!

My phone is ringing off the hook with people who want to lease a home here in Northern Michigan. These people all have different stories. There are three that seem to keep reoccurring. 1) I sold my home for a loss down state and do not have a sufficient down payment. 2) I lost my home in foreclosure or sold on short sale and my credit is a bit shaky. I need time to rebuild my credit and cash. 3) I do not want to take the chance and buy in a declining market but if I could do a lease option I would take my chances.

They all want to see how things are going to shake out here in Michigan. The Traverse City area is stalling like everywhere else, but there is a tremendous upside. People want to live here! It is ranked in the top 10 for places to live in the Midwest! There are jobs here! The quality of life is outstanding! The schools are top notch. Crime is minimal. We have a great track record for population growth that is still occurring unlike the rest of the state, that is seeing a decline.

There are not enough rentals to support the need here in the area. The few rentals that are out there are commanding top dollar. The majority of these people would love the opportunity to rent to own!

The majority of property's here in the area are less than 30 years old. They do not have the problems to over come that the older homes due. Plumbing is copper, electrical circuit breakers, good floor plans with closets. There are modern bathrooms and good size kitchens with good counter space and cabinets. Square footage averages over 1000 and a lot of these homes are built on finish-able basements. Also most of these homes have a 2 car garage.

The inventory is high and prices are falling. There a great situational buys to be had here!

Give me a call for a list of available properties that would make a great investment.

Mike St. Peter

Greenridge Realty

231-947-8200