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Foreclosure Homes in Petoskey, MI

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Home Value Estimator For Petoskey, MI

There are currently 790 real estate properties in Petoskey, MI, with a median automated valuation model (AVM) price of $265,800.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Petoskey, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Petoskey, MI, is $420,810.00, with the most expensive house in Petoskey, MI, topping out at $10,838,400.00 and the cheapest home in Petoskey, MI, clocking in at $10,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Petoskey, MI!


Rent Prices In Petoskey, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Petoskey, MI, is on a rollercoaster ride. The average rent price in Petoskey, MI, is $1,647.00. Indeed, when looking to rent in Petoskey, MI, you can expect to pay as little as $720.00 or as much as $3,660.00, with the average rent median estimated to be $1,580.00. The good news is that finding an affordable and desirable property to rent in Petoskey, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.


Foreclosure Homes in Petoskey, MI

Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Petoskey, MI area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Petoskey, MI and much more. Save thousands at closing with home foreclosure listings in Petoskey, MI — up to 75% off market value!


Top Reasons To Live In Petoskey, MI In 2021

Petoskey is located in Emmet, Michigan, with an estimated municipal population of 5,756 residents. All of the best foreclosed homes for sale in Petoskey are located in the following zip code areas on Foreclosure.com: 49770. The estimated population per square kilometer (.62 miles) in Petoskey is 433.


Cost Of Living In Petoskey, MI

So, about how much do homes cost in Petoskey? The most recent median value of resident-owned homes in Petoskey is 177,372. An estimated 52.2 percent of households in Petoskey own their homes, with an average family size of 2.67. The median household income in Petoskey is 45,107, with17 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Petoskey, the median commute time of resident workers (in minutes) is 14.6. And last, but certainly not least, are you looking for homes to rent in Petoskey? If so, the average rent price paid by renters in Petoskey is 714, according to recent statistics.


Diversity And Demographics In Petoskey, Michigan

Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Petoskey, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.

The median age of residents in Petoskey is 41.8, split between 46.8 percent male versus 53.2 female. The percentage of residents who report being married in Petoskey is 39, with an average family size of 2.67.

The percentage of residents who report their race in Petoskey is as follows:

White 92.7%
Black / African American 0.8%
Asian 0.3%
American Indian / Alaskan Native 2.4%
Native Hawaiian / Other Pacifc Islander 0.3%
Multi-racial 3.3%
Other 0.2%

Looking for family-friendly neighborhoods in and/or near Petoskey? Or maybe you are searching for 55+ active adult communities in and/or near Petoskey?

The percentage of residents who report their age in Petoskey is as follows:

Under 10 8.8%
Aged 10-19 13.8%
20s 10.6%
30s 13.6%
40s 11.8%
50s 13.4%
60s 15.7%
70s 8%
80+ 4.4%

Best Schools In Petoskey, Michigan

It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Petoskey with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Petoskey.


Pros And Cons Of Living In Petoskey, Michigan

How do you know that living in -- or moving to -- Petoskey is right where you need to be? Perhaps you grew up in Petoskey or already live nearby; therefore, the decision to buy a home in Petoskey is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Petoskey for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.

Here are some questions to ask yourself when shopping for foreclosed homes for sale in Petoskey:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Petoskey.


Reasons To Move To Petoskey, Michigan, In 2021

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Petoskey can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Petoskey, meanwhile, can field multiple offers from more qualified buyers.

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