Overall, metro Detroit home sales rose 2.5% in March compared with March 2007, according to figures released Monday by Realcomp Inc., a Farmington Hills-based multiple-listing service.
Sales for the month were down in Macomb, Oakland and Livingston counties, however. Sales fell by 12.6% in Livingston, 4.6% in Macomb, 4% in Oakland and 5.4% in the St. Clair area, which includes areas in the Thumb. Wayne County sales rose 17%.
"There are a lot of out-of-state investors coming in to town to buy homes. They seem to be aware of the fact that there are good deals in the city of Detroit," said Bryant Harris, an agent with 20th Century Real Estate in Detroit. "The market affords people the opportunity to own a home for as little as a couple thousand dollars."
Friday, April 18, 2008
Sunday, April 6, 2008
America's Riskiest Real Estate Markets
There's roulette and there's skydiving. Then there's investing in Detroit and Cleveland real estate.
That's especially risky because those markets are in freefall. Lenders have fled, foreclosures are on the rise, homes aren't selling and local economies have stalled.
The riskiest were those that had the highest foreclosure rates, slow job growth (or job loss) and a rash of listed homes.
That's especially risky because those markets are in freefall. Lenders have fled, foreclosures are on the rise, homes aren't selling and local economies have stalled.
The riskiest were those that had the highest foreclosure rates, slow job growth (or job loss) and a rash of listed homes.
Tuesday, March 25, 2008
Michigan Millionaire Makers Market Available To Real Estate Investors Through Michigan Income Properties
Mt. Clemens, MI--Michigan's Premier Investment Property Buyers (http://www.MichiganIncomeProperties.com are delivering real estate investors homes with mega equity. Due to strong relationships with local banks, Michigan Income Properties is able to offer Michigan real estate investors homes at less than 50 cents on the dollar.
"I can buy houses from Michigan Income Properties for thousands of dollars less than what the banks are letting them go for" says Robert Eloot, a Michigan real estate investor and current client of the company.
"I can buy houses from Michigan Income Properties for thousands of dollars less than what the banks are letting them go for" says Robert Eloot, a Michigan real estate investor and current client of the company.
Monday, March 17, 2008
Now is the opportunity to buy a home
As a real estate agent in the lakes country area, which includes the communities of Detroit Lakes, Lake Park, Audubon, Pelican Rapids, Hawley, Mahnomen, Park Rapids and points in between, I’m struck by the apprehension about buying a home in today’s market.
The truth of the matter is that there has never been a better time to buy when we consider the unique forces at play. Interest rates are near 40 year lows, prices have moderated, and the number of homes on the market is greater than it has been in years.
The truth of the matter is that there has never been a better time to buy when we consider the unique forces at play. Interest rates are near 40 year lows, prices have moderated, and the number of homes on the market is greater than it has been in years.
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