Your new Detroit property market report

July’s housing market figures are out.

And it has been another good month for property in Metro Detroit.

The median sales price is up 6.22% year-on-year.

It now stands at US$ 196,500.

That is up from US$ 185,000 in July 2017.

And in Wayne County (where most of our properties are located) prices rose 5.64%.

From US$ 136,500 to US$ 144,200.

Take a look for yourself…

2018 July Media Sales Prices in Metro Detroit, Michigan, USA

Sales were up 6.28%.

There were 5,887 last month compared to 5,539 in July 2017.

Meanwhile, inventory continues to fall.

You see, last month there were just 12,898 properties on the market – compared to 15,914 in July 2017.

That’s a decrease of 3,016 properties or 18.95%.

And it means there is only 2.19 months of inventory available at July’s sales pace.

On top of that, property is selling faster than ever.

It now takes just 25 days to sell a property in Detroit, on average.

That is 3 days less than in July 2017.

To summarise for you…

  • Median sales price up 6.22% in Metro Detroit
  • Median sales price up 5.64% in Wayne County
  • Sales up 6.28%
  • Inventory down 18.95%

These are all good signs the Detroit property market is getting stronger and stronger.

CEO of Realcomp II, Karen Kage, tells you more…

“The other piece is … a lot of people buying a home aren’t selling a home, so they’re not bringing anything to put on the market. There’s a lot of that one-sidedness and I think that’s what’s driving the inventory so low.”

Realtor Kenneth Evans concurs…

“Potential buyers need to act fast. They must be dedicated and motivated to snag a listed home before someone else.

The crazy thing about Detroit is, I don’t think a lot of people understand how much international investment there is in the city in the residential market. They are pretty much using the Detroit (residential) real estate market as an investment vehicle. Purchasing a home here … versus buying a similar home in California might be a difference of hundreds of thousands of dollars. As the market continues to gain in value, they can make a substantial profit.”

But although the median sales price in Wayne County is now US$ 144,200.

I can still offer you fully renovated, tenanted properties from just US$ 35,995.

And you will earn rental returns up to 19.39% 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.

This one is on Forrer Street in Grandale…

Forrer Street in Grandale

Grandale is in Northwest Detroit next to upmarket Grandmont-Rosedale.

The neighborhood is popular with home owners and tenants because it has a very low crime rate.

This means demand for housing is high.

And property prices and rents are increasing fast.

So you are likely to benefit from strong capital growth.

This property is 1km (0.7 miles) to Dossin Elementary School.

The shops, banks and restaurants on Greenfield Road are a 5 minute walk and Tower Center Mall is a 15 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$ 40,995.

Your monthly rent is US$ 700.

Your net yield is 16.10%.

That’s US$ 6,660 in your bank account every year.

Want full details?

Simply reply to me.

This place is on Rossini Drive in Regent Park…

Rossini Drive in Regent Park

Regent Park is in Northeast Detroit and borders upmarket Harper Woods.

It is 20km (13 miles) from Downtown Detroit or an 18 minute drive.

Many people living in Regent Park work in Eastpointe which is just a 5 minute drive from this property.

This is because property prices in Eastpointe are much higher than in Regent Park.

But it also means demand for housing in Regent Park is high.

And this is already starting to push up property prices and rents.

So you are likely to benefit from strong capital growth.

This property is only 600 meters (0.4 miles) from the shops, banks and restaurants on Kelly Road and 15 minutes’ walk to the Eastland Center.

Chandler Park Academy Elementary, Middle and High School are a 5 minute walk.

The house has 3 bedrooms, 1 bathroom, a living room, a kitchen, a 550 sq. ft. basement and a 6,969 sq. ft. garden.

It is on offer for US$ 42,995.

Your rent is US$ 750 per month.

Your rental yield is 16.30% net.

That’s US$ 7,005 in your pocket every year.

Want to know more?

Just reply to me.

This last one is on Saratoga Avenue in Burbank…

Saratoga Avenue in Burbank

Burbank is in Northeast Detroit and borders upmarket Grosse Pointe and Harper Woods.

It is 16km (10 miles) from Downtown Detroit or a 15 minute drive.

Many people living in Burbank work in Eastpointe which is just a 5 minute drive from this property.

This is because property prices in Eastpointe are much higher than in Burbank.

But it also means demand for housing in Burbank is high.

And this is already starting to push up property prices and rents.

So you are likely to benefit from strong capital growth.

This property is only 800 meters (0.5 mile) to the shops, banks and restaurants on Kelly Road and Seven Mile East Road.

Regent Park Scholars Academy and Brewer Academy are a 10 minute walk.

This house has 3 bedrooms, 1 bathroom, a guest toilet, a living room and a kitchen.

There is also an 864 sq. ft. basement and a 4,791 sq. ft. garden.

This property is on sale for US$ 45,995.

Your rent is US$ 750 per month.

Your net return is 16.10% – after all expenses.

That’s US$ 7,408 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.

Best,

Rebecca

Copyright OVG Invest Co. Ltd. 2009 - 2019
Email: info@ovginvest.com
Tel: +852 3101 7075 - Fax: +852 3101 7076
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