Flint water impacts real estate market

The housing market could be feeling the effects of the Flint water crisis.

- The trickling effects of the Flint water crisis may be filtering into the housing market.

Agents are now arming themselves with pamphlets directing questions about lead in the water to local experts and performing water tests, which weren't conducted prior to the water crisis.

The biggest obstacle is perception and misinformation, according to Jim Miller with RE/MAX of Flint.

"You just want to inform them right off the bat so they know and you know," he said. "We don't want to give out bad information."

As far as the numbers, there are 388 active listings in the city, which Miller said is a usual amount. He added that the average sales price has risen to $19,000 for a single-family home.

But renters stuck in a lease may be feeling the weight of the lead-filled water a bit more. While some live in apartment complexes that advertise that they don't use Flint water, other renters in the area, who are likely on fixed incomes, can't move away from the situation.

However, since a state of emergency has been declared, Fannie Mae will do what it can to help those seeking a home loan in Flint.

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