49883, Seney, MI

The zip code 49883 in Seney, Michigan has a median home value of $119,000 and a median home equity value of $111,000. This is significantly lower than the statewide median home value of $224,500 and statewide median home equity value of $157,200. The following are some key factors that may contribute to these low values:

-The Seney area is located in the northern Lower Peninsula of Michigan which has been hit hard by the recession. Many homeowners have lost their jobs or have had their income reduced and are now unable to make mortgage payments or afford to keep up with property taxes and other maintenance costs. As a result, many homes have been sold at auction or through private sales where the buyers are not required to qualify for a mortgage.

-Another contributing factor is that there is very little available land within the zip code boundaries. This means that there are few homes available for sale and those that are for sale tend to be more expensive due to limited competition.

Despite these challenges, there are still some homeowners in the 49883 zip code who have been able to successfully sell their homes for above market prices. In fact, one homeowner who sold their home in February 2017 for $128,000 was able to achieve a 95% return on investment (ROI). This shows that even in an area where housing values are relatively low, there can still be opportunities for homeowners who know what they're doing.