Study shows Lansing house market needs improving

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LANSING, MI (WLNS) – Out of the 300 hundred cities nationwide that were surveyed Lansing comes in at a disappointing 288, but one Lansing realtor is saying home sales are up from last year.

New home buyers come into town for many reasons.

Schools and crime are always checked by the potential buyer and while WalletHub says Lansing has some work to do. Bob Plesscher with ReMax disagrees.

“Value is up 3 percent over last year, average number of sales is up, sales prices are up, list price is up. The market is very strong right now,” said Bob Plesscher, broker/owner, ReMax.

WalletHub says many factors went into the study including median household income which Lansing ranked near the bottom at 228 out of 300.

The website goes on to says many first time home buyers have student debt and want to plant their roots in the city of their first job, often times not making much money.

This category is where Lansing needs to improve, but Jill Gonzalez says there are some good things that Lansing does offer.

“All cities on this list definitely have something to offer for people living within them and just because you might not see the necessary amenities or cream of the crop in terms of facilities things like that, there definitely are some around you might just need to take a little more time to go and seek them out,” said Jill Gonzalez, spokesperson, WalletHub.

While both agree this is a seller’s market, Plesscher wouldn’t rule out a buyer’s market as well, even for first home buyers.

“It’s a little bit more of a seller’s market because we have some competing offers for well-priced homes. Although it’s a great market for buyers too because interest rates are good and there is still some decent inventory,” said Bob Plesscher, broker/owner, ReMax.

This study from WalletHub is done yearly.

As cities make their way out of the recession there could be many changes. These changes may move Lansing up the list for next year.

Survey: See the entire study “2015’s Best & Worst Cities for First-Time Home Buyers

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