Home for Sale at 695 LIVERNOIS Street, Ferndale, MI 48220

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695 Livernois Street
Ferndale, MI 48220

Alina Valentine with KW Metro, original listing - (248) 288-3500

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Property Details

List Price:	$2,550
Beds:	2
Baths:	Full: 2
Status:	Active
SqFt:	1500 Square Feet
Agency:	KW Metro
Agency Phone:	(248) 288-3500

Map Details Show Map | Show StreetView

Description/Comments

Lot Size:	0 sqft
Garage:	Garage
Property Type:	Residential Lease-Condominium
Year Built:	1942
Notes:	Unleash your potential in this freshly-remodeled Unit. With Multi-Use Zoning the opportunity to WORK and LIVE in this unit is something you won’t find elsewhere, making this the perfect rental unit for the the professional looking to capitalize on opportunity. Whether you’re looking for a spot to open a yoga studio, chic salon, lawyers office, store front or similar - this unit is sure to please and breaths new life into the phrase LIVE - WORK - PLAY. The cherry on top: your business can pay part of your rent! Crafted for professionals seeking a stylish and modern environment or a creative sanctuary for living. Elevate your lifestyle in a prime location. This stunning Ferndale property not only boasts modern and broad living spaces, but also offers a close proximity to shops, restaurants, and entertainment. Everything is prepared not just to rent a space, but with fun and luxury in mind to inspire your success. BATVAI. Minimum 12 month lease required.
MlsNumber:	--
ListingId:	20251059808

Listing Provided By:	KW Metro, original listing
Phone:	(248) 288-3500
Office Phone:	(248) 288-3500
Agent Name:	Alina Valentine
Disclaimer:	Copyright © 2025 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

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