FBI probing Lindsey Hunter's role in real estate deal

Attorney Michael J. Smith of Sterling Heights said his client, Bruce McClellan of Waterford Township, recently told the FBI that Hunter and Iron Johnson, Hunter's partner in L&I Enterprises, promised to pay him $300,000 in 2007 to buy the house in the 1700 block of Morningside Way. The deal called for McClellan to hold the house for one or two months until it could be purchased by someone else.

But the purchaser never materialized, McClellan never got his $300,000, his excellent credit rating is ruined and the house went into foreclosure, McClellan told the FBI.

Smith told the Free Press he's contemplating suing Hunter and others to recover damages for McClellan, who is on the hook for the $1.25 million mortgage.

It's unclear what Hunter had to gain from the deal.

Hunter could not be reached for comment Monday, but his lawyer, Deano Ware of Redford, said: "Lindsey Hunter hasn't done anything wrong.

GR developer at center of Detroit corruption probe

An Alpine Township man at the center of an investigation into alleged Detroit City Hall corruption was working for a company that holds a $3 million sludge-hauling contract with the city of Grand Rapids, as well as contracts with other West Michigan communities.

However, Grand Rapids city officials say they don't expect the Detroit case, which involves local developer James Rosendall Jr., to have an impact on their contract.

"It's of interest to us," said Grand Rapids Assistant Director of Environmental Services Mike Lunn. "I don't see how it would impact us at all."

Showcase of Detroit homes

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.

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?