Chelsea, MI real estate listings have a lot to offer prospective homeowners. Located east of Battle Creek and west of Ann Arbor and Detroit, there are several homes in the area for less than $150,000. “Affordable” is a word you’ll often see in advertisements.

Until recently, Chelsea was not a city, but a town under the jurisdiction of the municipalities of Lima and Sylvan. In March 2004, residents voted to change their municipal status from “town” to “city.” It is a small city, compared to most other Michigan cities. more than triple that of Chelsea.

Chelsea Community Hospital is a major employer, but most residents commute to work in a nearby city. Choosing to live where the population is less dense, but work where there are more opportunities.

Just one example from Chelsea, MI real estate listings is a home in Clear Lake Shores, 20 minutes from Ann Arbor and priced at $1.2 million. On the other hand, new condos and older farm and ranch style homes can also be found in the $125,000 range.

Michigan’s struggling economy is causing some frustration among people trying to sell their homes. Average closing prices are stable across much of the country, but homeowners in Ann Arbor, Chelsea, Detroit and many Michigan cities have been forced to cut their home prices by as much as 6% in order to sell quickly .

Most homes remain on Chelsea, MI real estate listings for months before the sale is finalized. As such, many people are turning away from real estate agents and selling their homes themselves. They are also doing this to save on the huge 6% commission that the real estate agent eats up.

Some strategies to consider that are working well in Michigan right now:

Frustrated sellers who are getting creative are having a lot of success selling their home in a Rent with option to buy.

Rent-to-own is also called a lease option. These deals appeal to many people who have the money to make their mortgage payments, but for various reasons are unable or uninterested in an “outright purchase.” Typical reasons include that the buyer has bad credit or does not have a large enough down payment saved up and, due to such factors, does not qualify for traditional bank financing.

For buyers, this is the right time to invest in Michigan’s future. Cities are constantly working to attract new industry, and financial experts expect the economy to recover and grow in the coming years. This could mean that the property you buy today for less than $150K will be worth a little more in three or four years, maybe less.

In other areas of the country, people have seen their property values ​​double and triple in just a few years. Real estate is always a good long-term investment.

Why choose a lease option contract? For the seller, it means he can get his property off the Chelsea, MI real estate listings and move on, if that’s what he needs to do.

People who may not be able to qualify for a good mortgage rate and are willing to work to improve their credit during the lease term can still take advantage of today’s low prices by pricing in the lease option agreement.

People who are saving for a down payment like the idea of ​​having a portion of their rent put toward the eventual purchase of the home. People who aren’t sure they’re ready to buy like the idea of ​​having the “choice.”

All of this means to the seller that more people are looking at the property, more people looking means better chances of selling.

When both parties agree, the final purchase can be made without a real estate agent, which means there is no commission and more money in the seller’s pocket. Potential buyers can take the time to find their own financing, which means there is no commission for a mortgage broker. There are many ways to save money on real estate and to make more money selling real estate. A lease option agreement can help.

There are currently 21 homes in foreclosure or pre-foreclosure status in Chelsea. Losing a home to foreclosure means the owner loses every penny he has invested, not to mention the time spent, the damage to his credit rating, and the difficulty in finding another home. Sellers should consider all of their options to avoid foreclosure.

There is almost certainly a buyer for every piece of real estate in Chelsea, MI, sometimes it’s just a matter of finding it. Offering a lease option can make all the difference.

Experienced Michigan real estate investors who do many lease option agreements can help put the deals together. These investors can help you if you need to sell your house or if you want to buy one.