Recent Solds in Howell Michigan

I've had some recent solds in Howell Michigan.  1282 Morning Mist in Marion Township (48843) sold for $204,000.  It was a foreclosure that was put into 'move in' condition by the bank.  Paint, carpet, kitchen appliances, refinished hardwood floors - a do-nothing-but move-in home.  Multiple offers, of course.  Great neighborhood with sidewalks and municipal services, a bit of dirt road to get to the sub (quarter of a mile perhaps), but very good location for downtown Howell and I-96 ramps.  I hate seeing foreclosed homes, but it's wonderful to see them occupied by owners that will help keep neighborhood values up.

Another one is the other side of the coin.  410 W. Clinton, a block off Grand River in the downtown Howell area was a very distressed property.  It had apparently been used as some sort of a group home.  Much deferred maintenance, shoddy repairs, and generally chopped up. It was bad enough that the bank decided (uncharacteristically) to sell it 'as is'.  Now, all bank properties are sold 'as is', but this one was without repairs because the scope of work would have been extreme.  I want to give some kudos to Paddock Builders for taking this project on.  I don't know if they'll rehab and flip it to a private owner or turn it into a rental, but it is a very large project regardless of which way it goes.  The one thing I do know is that the adjacent owners will be happy to see somebody putting some money into it and making it a viable residence again.  There's a place for everybody in this world and that applies to investors, too. Not all investors are ruthless money grubbers.  You can make a very good case for investors being transitory owners that provide stepping stones to healthier neighborhoods - in some instances.

Sometimes investors get short shrift from private owners.  You'll hear things like, "they're in it only for the money", or "they don't care about us", but my guess is the neighbors of this property will be very happy in comparison to when the prior owners had it. The important thing is that whomever owns the property doesn't let the area get dragged down.

Food for thought: Google "broken window theory", including the quotation marks.  You'll get articles pro and con for this topic, but basically the theory postulates that an abandoned home with a broken window or grafitti will cause some local residents to lower their standards of adhering to the norms of the area.  That means that small infractions (at first) result and if left unpunished they continue to escalate - all the way up to major crimes.  Food for thought, indeed.