Foreclosure in Michigan City>Question Details

J. Kay, Home Buyer in Michigan City, IN

Why are there so many houses for sale in Michigan City?

Asked by J. Kay, Michigan City, IN Wed Jun 27, 2007

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3
Hi J!

The market overall is going through a normalizing process and has been since August 2005. It has only just recently resonated to our area. In our region, the market behaves with the seasons as well as national influences. As such, in the winter there is not as much activity as one would see in the Spring or Summer. Basically, over winter many sellers and buyers go into hybernation mode. And as one sees the first crocus bloom in Spring, so does the local market. But specifically answering your question regarding the amount of house for sale in Michigan City, I would offer these reasons: 1) Foreclosures, 2) ARM mortgages spiking the interest rates which the home owner cannot afford, 3) Pique selling season, 4) Buyers holding out for better deals.

In all, the inventory of homes is not only isolated to Michigan City...it is a phenomenon across the nation.
1 vote Thank Flag Link Fri Jul 6, 2007
Hi J.

Michigan City lost a lot of industries over the last couple of year, but I assure you that LaPorte County has a lot to offer. Local government is putting actions in place to help revitalize the community. We have beautiful golf course lots available, there is Pine Lake in LaPorte, there are houses on Fish Lake and Hudson Lake. If you want to live by Lake Michigan, there are many house for sale in Long Beach. I have live here all my life and this would be a great place for you to retire and you are only 60 minutes from Chicago. If you would like to take a tour of our beautiful county, give me a call. Thanks Rosie Martin
0 votes Thank Flag Link Thu Jan 27, 2011
Thanks, Tracy. I am noticing some great deals in Michigan City and am thinking of retiring there from Chicago, but am a bit concerned that the number of homes for sale might indicate a decline in the community. I suppose my main concern as I get older would be safety. As I drive by in the area close to downtown (just east), I see a nice neighborhood. Yet when I go online, I notice from the photos that a lot of these houses are empty. I also notice the taxes are quite low in this area compared to out laying areas. Low taxes are great, but I wonder about the discrepancy. Is the city trying to encourage buyers in this area, perhaps -- to build it up?? Thanks again. Any comments are welcome.
0 votes Thank Flag Link Fri Jul 6, 2007
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