Ken Scott, chairman of the University Commons Home Buying Seminar and Neighborhood Open House Bus Tour, said more than 100 homes are for sale within the 3-square-mile area bordered by Eight Mile, the Lodge Freeway, Woodward Avenue and Schaefer.
"Our emphasis is getting families to consider purchasing a primary residence in these areas," said Scott, a real estate agent with Candler, Scott and Wallace Real Estate Consultants. "We want to showcase these communities and point out that the homes here have never been at a better value."
The event is free to the public and will start with a home-buying seminar from 11 a.m. to 2 p.m. at University of Detroit Mercy Student Center Building, 4001 W. McNichols Road, Detroit.
Wednesday, June 25, 2008
Wednesday, June 11, 2008
Rediscovering Detroit Real Estate
Doom-and-gloom media coverage has commonly painted a picture of Detroit as a city in peril. Investors who do their own research, however, will probably discover undervalued opportunities for investment buried beneath the city’s tarnished reputation. Some speculators have already begun to take advantage of the market’s tremendously low property prices, while other buyers are still waiting for the market to hit bottom.
Of course, investors should not overlook the serious problems faced by Detroit’s real estate market—problems such as widespread foreclosures, a weakened local economy, high rates of unemployment and rampant crime in the city. Yet remarkably, more than 99 percent of its metro population has remained intact. How is that possible?
Of course, investors should not overlook the serious problems faced by Detroit’s real estate market—problems such as widespread foreclosures, a weakened local economy, high rates of unemployment and rampant crime in the city. Yet remarkably, more than 99 percent of its metro population has remained intact. How is that possible?
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