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FHA sales in Detroit

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redfish

Thread Starter
Senior Member
Joined
Sep 2, 2007
Professional Status
Certified Residential Appraiser
State
Michigan
Has anybody noticed the 10-15% premium that FHA financed homes are selling at in the urban Detroit market? The contributory value of a home that will qualifiy for FHA assistance is setting the upper end of the value range in many neighborhoods in Detroit. Do other Detroiters(appraisers) consider these arms-lenght or just bad deals. The avaiability of financing appears to be affecting values still.
 
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