Real Estate in Saginaw MI – Lease Option (AKA Rent to Own) Is Ideal For Bruised Credit Home Buyers

Whether you are interested in buying, or selling real estate in Saginaw MI, the information provided here should be helpful.

Buyers and sellers of Saginaw Michigan real estate are facing unique problems, most of them caused by the same economic factors affecting the rest of the state. Changing employment opportunities, job losses, transfers, company closings, etc. have affected not only business owners, but property owners and other residents of the state, all good people. Experienced Michigan real estate investors, like us, are making efforts to help these good people out of their bad situations.

Selling Real Estate in Saginaw MI: The Facts

Trying to sell can be frustrating in any area. The house must always be spotless. To get the best price, all the repairs must be done. Countless people walking through your home and since agents do not pre-qualify the “lookers”, many of them are just that…just looking. The Saginaw Michigan real estate market is slow, as it is in most areas of the state. Many properties take months and months to sell. Sometimes, it is just not possible to wait.

If you are selling, real estate in Saginaw MI, you may have already realized that the economic struggles faced by residents of Michigan may require some unique action on your part. We may be able to help you sell Saginaw Michigan real estate more quickly or help negotiate a lease option agreement for you.

The number of foreclosures included in the Saginaw Michigan real estate classifieds is depressing. People typically buy when their future is secure or in an effort to make their future more secure by investing in real estate. In Saginaw MI and throughout the state, if you are a property owner, you should know that there are several ways to avoid foreclosure.

The lease option agreement is one plan that is becoming increasingly popular in Michigan. With a lease option, your monthly mortgage is paid. This can be particularly helpful if you are being transferred or have already moved. Paying two mortgages is a big strain on a homeowner. It is this type of problem that can often lead to foreclosure. Having a foreclosure on your credit record can devastate your rating, making it harder to make major purchases in the future, even if your financial situation improves.

As investors in Saginaw Michigan real estate, we offer unique options for the seller. Our lease option program is one option. Many of these options are overlooked, particularly by real estate agents. We look for the win-win situation, looking for the most agreeable terms for both the seller and the buyer.

Buying Real Estate in Saginaw MI

If you want to buy real estate in Saginaw MI, but your credit score is stopping you, a lease option plan may work for you. If you are employed, can make the monthly payments and have saved a few thousand for a downpayment or “option consideration”, then you can probably be a homeowner sooner than you think. Traditional lenders typically focus all of their attention on a person’s credit score. There are many factors that can affect this score and it is not always a true reflection of a person’s creditworthiness.

If you are a buyer, even with bruised credit, the situation that currently exists in the Saginaw Michigan real estate market may make it easier for you to own your own home. Motivated sellers are often more willing to work on terms or accept a lease option agreement. Conventional lenders may have turned you down, but you have other unique options. As experienced Michigan real estate investors, we can help you find the right option.

If you are currently renting, you should know that you can probably afford to buy real estate in Saginaw MI. Monthly rental payments are usually more than mortgage payments on the same or similar property. The Saginaw Michigan real estate listings currently include hundreds of properties for less than $100,000. In fact the median price for real estate in Saginaw MI is currently $89,900. The mortgage payments on properties in this price range can only be described as affordable.

If your credit score is too low to qualify for the low interest rates that many lenders are currently offering or too low for even a high interest loan with a high down payment, our lease option plan may be right for you. With a lease option or “rent-to-own” plan, a portion of your monthly rent goes towards the purchase of a home. Instead of working just to pay the rent, you can be working to build your future.

The Future of Saginaw Michigan Real Estate

An investment in real estate is almost always a good investment. It’s just that sometimes it takes years for the market to turn around and many people who are trying to sell real estate in Saginaw MI cannot afford to wait…not for years, maybe not even for a few months. On the other hand, a person with secure employment who buys or starts a lease to own plan now is investing in the future.

The current value of Saginaw Michigan real estate will almost surely improve. The area has seen economic ups and downs since the first European settlers established a fort on the banks of the Saginaw River. First there was lumber, then furniture and horse drawn carriages, followed by gears for the new horse-less carriage. Over the last forty years, the value of real estate in Saginaw MI has gone up and down, as the success of the automobile manufacturers went up and down.

The future is health care, research, service industries and tourism. Fishing in Saginaw Bay attracts people from all over the country. A more stable economic environment is just over the horizon. If you start now, a lease option plan can help you improve your credit score and eventually own a home that will likely increase in value as the years go by. Whether you want real estate in Saginaw MI or elsewhere in the state, we would like to help.

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