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this post was submitted on 26 Nov 2023
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The median price is under 300K, so at least half the houses in Michigan cost less than 300K.
So what you're saying is that more than half the people in the state of Michigan live in houses that are not nice enough for you?
I'm saying your numbers are bullshit. Houses aren't actually that cheap.
I'm going to go with what Forbes says over your impressions.
Or what Zillow says.
Or just look at the > 200 2+BR houses under $300K in Grand Rapids alone.
Lol they're mostly trailers
More than half of those houses have a garage...
Not if you hide the pending/contingent ones. They're basically already sold.
Also, the houses that have a garage and aren't pending are mostly above $250k. They barely count as being "below $300k".
And like I said, those cheaper houses sell instantly and for a lot above the asking price, unless there's something wrong with them that will cost a lot to fix. You can't actually buy a $250k house for $250k.
Even if you filter out pending/contingent sales and houses on the market less than 14 days, there are still >50 houses (not trailers) in that price range. And since they have been on the market for at least two weeks, they aren't going to sell above asking price.
Yes, houses require maintenance/repairs. Even expensive houses require maintenance, in fact maintenance costs are generally higher in more expensive houses.
That's just one of the tradeoffs of home ownership. You should be ready to replace pretty much everything in the house over the next ten years. If you don't like performing maintenance or paying someone else to do it, you should rent.
Finally, $250K absolutely counts as "under $300K".
40 have been on the site longer than 2 weeks. I can only filter for less than two weeks, not greater than, so I won't bother with that, but here's a summary of the first 5 that have a garage, aren't pending, and are less than $300k:
"This house needs work and is priced accordingly"
"This is a 55 and older only community."
A trailer with a detached garage for $250k. That's just insulting.
A nice condo for $299,900, right where I said most houses would be.
A kind of ugly place for $230k. The description says it only needs cosmetic improvements, so this might actually be a good one to buy.
So hey, in the first 5 there's one house that seems reasonable. Maybe there are a few more if I go through the rest. Still, for a city of 200k people, being able to count the reasonably priced houses on your fingers is not very good.
Keep in mind that this is the worst time of year to put a house on the market.
Realtors advise sellers to list after the Superbowl. People are doing holiday stuff right now, not so much house shopping. And if a house sits on the market too long, buyers will avoid it.