Red Barn Village Sub, Oxford Michigan
Red Barn Village Sub in Oxford Township consists of 123 home sites just south of Drahner Rd, west of M-24. Red Barn is an older sub- houses built in the early to mid sixties, mostly ranches and tri-levels, with Lake Orion schools. The neighborhood also features community well and sewer, good sized yards- fences allowed. Excellent location with easy access to both downtown Oxford and Lake Orion.
Some of the area amenities include:
2009 was a rough year for Red Barn Village. 7 houses sold ranging from $50,000 to $90,210 (after subtracting seller concessions). 6 or those 7 houses were foreclosures and the other sale was a short sale.
In 2010 there were 10 closings in Red Barn ranging in price from $46,500-$116,500- all foreclosures except for the house that sold for $116,500. 1374 Foreland sold earlier in the year for $52,000 as a bank owned home then re-sold at the end of the year for $116,500- the first time Red Barn has seen a sale break the $100K mark since August 2008. As of April 25, 2011 there were 2 active listings in Red Barn sub and 1 sale pending with an asking price of $58,000.
The second highest sale price in Red Barn in 2010 was $77,600. 4 houses sold in the $70's, 1 in the $60's, 3 in the $50's and 1 in the $40's.
This is a great price point for the person who wants a house but with a reasonable payment (first time home buyer, starting over, retirement, down sizing, etc.). Or a terrific rental prospect. A typical house in this neighborhood, in good condition, would probably rent for around $900 or so per month.
This is also a great opportunity to own a house that had once sold for $150,000 or $160,000 or more and probably have a payment that is less than rent in most places with Lake Orion schools. Most of the homes in Red Barn are 3 bedroom homes, some have only 1 bathroom, but many have 1 1/2 or 2 baths. Unless the house is a tri-level most of the houses have basements.
In 2006 the MLS shows 5 sales ranging from $145,000-$172,000
In 2007 the MLS only shows 2 sales- both bank owned- with sale prices of $113,975 and $116,000.
2008 shows 3 sales of $76,095, $91,755 and $140,000 and 2 leases both for $1100/month
There were 7 sales in 2009- 6 bank owned and 1 short sale. 2 sold in the $50's, 2 in the $60's, 2 in the $80's and 1 in the $90's
If you are considering buying or selling in Red Barn Village please call or email: