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Farmington Homes For Sale - Farmington Homes for Sale Offer Value

hills county market community

It might seem odd but one of the wealthiest counties in the United States connects to a county with some of the highest foreclosure, unemployment and poverty rates in the country. As Alanis Morissette might say, “Isn’t it ironic, don’t you think?”

Located in the middle of the multi-cultural and multi-racial population of Detroit, Farmington, MI sets in the southern part of Oakland County, one of the richest counties in the United States. The Oakland County communities of nearby Farmington Hills and Bloomfield Hills are also among the wealthiest communities in the county. In contrast, most of Detroit belongs to the economically depressed Wayne County.

Considered part of the Detroit metro area, Farmington is a small city surrounded by nearly a million residents. According to residents and real estate professionals, Farmington homes for sale are still considered a good value despite recent housing slumps. The market in the Farmington and Farmington Hills community reflects a less inflated rate as average prices of homes in the area have dropped more than a $100,000 over the last five years. In 2006 the median price for Farmington homes for sale was over $262,000. According to Zillow.com, today’s average value of Farmington homes is $149,000. Even one of the wealthiest counties in the country could not escape the impact of a turbulent housing market. Farmington homes for sale bottomed out in 2008; with an upturn in Farmington home values, the market is staying steady.

For perspective buyers interested in Farmington homes for sale, it seems now is the time to find the best values while the market is still in recovery. Homes in Farmington and Farmington Hills should prove to be solid investments.

One of the biggest attractions drawing residents to the Farmington and Farmington Hills community is the lower crime rate. Compared to the rest of the county as well as the state of Michigan, those two cities enjoyed a much lower crime rate with the trend continuing into 2010. In contrast some metro Detroit areas are experiencing an increase in crime rates including violent crime. Farmington Hills and Farmington homes for sale or rent are even more desirable due to community safety.

Safety, along with other factors, helped Farmington to be named in 2007 as one of America’s Best Places to Live by Money Magazine. Other categories included quality of education, commute time, access to quality health care, affordable housing, and recreational and cultural activities. The award reinforced the solid investment found in Farmington homes.

In today’s market, current listings of Farmington homes for sale advertise mortgage rates and sale prices within reach of typical working families. However, home values spread in a wildly diverse range with many high end offerings in the Farmington and Farmington Hills community. You could choose a two story home with 4 bedrooms, 2 bathrooms and a double garage listed for $54,900 or consider a short sale deal on a 5 bedroom, 5 bathroom, 5 garage property with a pool, a sauna and a lakefront view with a private beach for just under 2 million.

The variety and value of Farmington Hills and Farmington homes for sale provides many reasonable options for real estate investment opportunities. The community offers safe neighborhoods, good schools and affordable housing.

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