More good news for Michigan.

Apparently Las Vegas is the most undervalued city in America right now.  Cities in Califirnia, Florida, Texas, and Nevada rank high on the undervalued list.  Michigan cities rank close behind.  That is surprisingly good news for Michigan which is clearly in a full blown 1930s depression.  There are no Michigan cities on the overvalued list.  See: America's most overvalued cities  and:  America's most overvalued cities list

The Obama Administration has made an additional 3 billion dollars available for unemployed homeowners in troubled states like Michigan.  Making the money available and actually reaching the people is two different things.  It is like sending the fire trucks to a fire.  It is a good and necessary first step, but once the trucks arrive, they still have to rescue the people.   The HAFA (Home Affordable Foreclosure Alternatives)  and HAMP (Home Affordable Modification  Programs) are not reaching many of the distressed homeowners that they are intended to help.  This new program for unemployed homeowners will probably fail to reach many people also...  but it is still good news for Michigan since our unemployment rate is 13%.  See:  $3 billion more for jobless homeowners  and:  Where does your state rank?   

In addition fewer homeowners have underwater mortgages.  The reason for this is probably because many have lost or walked away from there homes.  No matter the reason, it is still good news.  One way or the other - we are working through this major structural problem of our ecconomy...  One bit of bad news is that the record low interest rates are not driving a housing boom.  People are understandably afraid for their jobs.  See:  Fewer U.S. homeowners have ‘underwater mortgages’  and:  Record-low mortgage rates fail to move market   

Higher priced homes have declined more than lower priced homes.  See: higher price range are seeing bigger price declines  Given these facts, if you are financialy secure, now is the time to move upscale.  Yet... I have not been able to convince my financialy secure best friend to even look at my upscale listing at 8155 Lovejoy Rd. Byron, MI.  See a full motion video tour below.