61
      Sunday
      79 / 63
      Monday
      85 / 63
      Tuesday
      88 / 65

      Banks could be keeping housing prices down

      House prices in this Grand Blanc Township neighborhood have fallen dramatically the last five years.

      The demand for homes is up in Mid-Michigan, yet the price of property remains low.

      "Buyers have are informed and they see a price and say that is a good deal and the appraisal comes back at ten percent less," says realtor Patrik Welty.

      "Today I'd be fortunate to get 75 (grand) for it, maybe less," says Grand Blanc Township resident Don Morey when talking about his house.

      Morey says his house was appraised for $150,000 five years ago.

      "My plan is stay where I am. Its been an excellent place to live and I'm happy with that." adds Morey, who says he can afford to move but won't until the price of his current house comes back up.