Great Deals on Foreclosed Homes in Michigan

If you live in the state of Michigan, now is the time to purchase that dream home that you've always wanted. In the past we have all heard that it's cheaper to buy than rent. In this present housing market, I have found that statement to be very true. Did you know that for as low as $5,000 or less that you can buy a foreclosed home? Did you also know that if you're a first time buyer, that you may qualify for a $8,000 tax credit?

If you are a first time home buyer, and your income does not exceed $75,000 a year for a single person or $150,000 for a couple, you qualify for the tax credit. You must purchase your home by November 30, 2009 and you will receive the $8,000 credit along with your income tax refund.

With the current prices of the foreclosed homes and your tax credit, you can't go wrong. To find foreclosed properties in Michigan, you could check the local sunday paper for a listing. You may also check with a real estate agent for a list of foreclosed homes. There are several websites that will show you the picture and the prices of the homes.

Listed below is two websites that I recommend:

www.classichudhomes.com

www.marketplacedetroit.com/foreclosures

These sites will allow you to choose the county and city that you're interested in. You will also be able to select your price range and the style of home that you're looking for. You may also choose the amount of bedrooms and bathrooms that you may need. Along with a picture of each home you will be provided with the cost of the property taxes and any other valuable information that you may need.

Don't be discouraged if you do not qualify for a mortgage. Some of the properties are priced so low, that you may be able to pay cash for your new home. You have so many options right now. Other options include purchasing a home, by renting to own. This means that you will rent the home for about a year, and a portion of the money will go toward your down payment, if you decide to buy the home.

There is no better time to buy, than now. It's time to find your dream home, but remember to do so before November 30, 2009 (don't miss out on your $8,000 tax credit)

Good Luck With Your Search!