March’s housing market figures are out.
And it has been another good month for property in Metro Detroit.
The median sales price is up 4.62% year-on-year.
It now stands at US$ 170,000.
That is up from US$ 162,500 in March 2017.
And in Wayne County (where most of our properties are located) prices rose 15.64%.
From US$ 105,000 to US$ 122,000.
Sales were down by 8.50%.
There were 4,185 last month compared to 4,574 in March 2017.
Meanwhile, inventory continues to fall.
You see, last month there were just 8,768 properties on the market – compared to 12,407 in March 2017.
That’s a decrease of 3,639 properties or 29.33%.
And it means there is only 2.10 months of inventory available at March’s sales pace.
On top of that, property is selling faster than ever.
It now takes just 42 days to sell a property in Detroit, on average.
That is 2 days less than in March 2017.
To summarise for you…
- Median sales price up 4.62% in Metro Detroit
- Median sales price up 15.64% in Wayne County
- Sales down 8.50%
- Inventory down 29.33%
These are all good signs the Detroit property market is getting stronger and stronger.
CEO of Realcomp II, Karen Kage, tells you more…
“New residential real estate activity has been relatively slow in the first quarter of 2018, yet housing is proving its resiliency in a consistently improving economy. Some markets have had increases in signed contracts, but the vast majority of the nation continues to experience fewer closed sales and lower inventory compared to last year at this time. Despite there being fewer homes for sale, buyer demand has remained strong enough to keep prices on the rise, which should continue for the foreseeable future.”
But although the median sales price in Wayne County is now US$ 122,000.
I can still offer you fully renovated, tenanted properties from just US$ 45,998.
And you will earn rental returns up to 16.46% net.
But the way the market is moving means your opportunity will soon be gone.
So if you would like to see what’s on offer – just reply to me.
Let’s have a quick look at a few that are available right now.
La Salle College Park is in East Detroit next to Osborn and Burbank.
There has been over US$ 100,000,000 invested in this neighbourhood over the last 2 years.
And people like billionaire Dan Gilbert are buying up single family homes in the area.
This means property prices and rents are rising quickly.
So you should benefit from strong capital growth.
This property is 450 meters (0.3 miles) to high ranking Wilkins Elementary School.
The shops, banks and restaurants on Gratiot Avenue and Martz Playground are a 10 minute walk.
The house has 3 bedrooms, 1 bathroom, a living room, a kitchen, a 750 sq. ft. basement and a 5,227 sq. ft. garden.
It is on offer for US$ 47,998.
Your monthly rent is US$ 750.
Your net yield is 14.63%.
That’s US$ 7,021 in your bank account every year.
Want full details?
Simply reply to me.
Cornerstone Village is in East Detroit next to upmarket Grosse Pointe and Harper Woods.
Cornerstone Village is known for its excellent block clubs.
They play an important role in the community by organising local events and meetings.
Moreover, they encourage neighbors to be vigilant which helps to keep crime rates low.
As a result there is high demand for property in the area from buyers and tenants.
And prices are rising fast.
This property is 1km (0.7miles) to the shops, banks and restaurants on Harper Avenue and E Warren Avenue.
East English Village Preparatory Academy and Eastside Tennis and Fitness Club are an 8 minute walk each.
Ronald Brown Academy is a 3 minute drive.
This house has 3 bedrooms, 1 bathroom, a living room, a kitchen, a 500 sq. ft. basement and a 7,928 sq. ft. garden.
It is on offer for US$ 48,995.
Your rent is US$ 750 per month.
Your rental yield is 14.44% net.
That’s US$ 7,076 in your pocket every year.
Want to know more?
Just reply to me.
Warrendale is in southwest Detroit next to Rouge Park and downtown Dearborn Heights.
Properties in Warrendale are mainly owner occupied and well maintained.
And that means vacancy rates are very low – so you should never struggle to find tenants.
This property is only 600 meters (0.4 miles) to the shops, banks and restaurants on West Warren Avenue.
And a 4 minute walk to Carver STEM Academy and a 15 minute walk to Warrendale Charter Academy.
Walmart Supercenter, The Home Depot and Ford Manufacturing Development Center are a 5 minute drive away.
This house has 3 bedrooms, 1 bathroom, a living room and a kitchen.
There’s also a 500 sq. ft. basement and a 4,966 sq. ft. garden.
This property is on sale for US$ 56,995.
Your rent is US$ 750 per month.
Your net return is 12.18% – after all expenses.
That’s US$ 6,943 in your hand every year.
If you’d like to know more – simply reply to me.
Remember all our USA investment properties are:
- Fully renovated – average cost of works US$ 20,000
- Freehold with full warranty deed
- Already tenanted with pre-screened tenants – you get paid from day one
- Professionally managed – your rent is paid on time into your own bank account
Plus, with our Detroit properties you get all this completely free:
- Free Title Insurance – value US$ 499
- Free 1 year Property Insurance – value US$ 495
- Free 12 month Home Warranty – value US$ 700
Total value = US$ 1,694.
I won’t offer you unrealistic guarantees which can’t be fulfilled, like some people I could mention.
But I do promise you…
- Your vacancy rates will be very low (last 3 years 3.58% average)
- You will always get paid what you are due
- I will stay right by your side for as long as you own your property
It doesn’t matter if it’s 3 months or 30 years – if you have a problem I’ll be here to help.
Because I know that if you get the returns you are expecting you’ll come back for more.
You might even refer your friends and family, if I’m really lucky.
And unlike many of my competitors I don’t charge you a finder’s fee, an enabling fee or an arrangement fee.
In fact I don’t charge you any fees at all.
So if you would like full details of what’s on offer in Detroit – just reply to me.
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