May 2012

Low home prices attract new buyers to Northern Michigan

Buyer interest has also been sparked by recent media attention on the great summer activities that are available in northern Michigan. Sleeping Bear Dunes and Traverse city have both been highly ranked among American vacation destinations, and locals say that the accolades are paying off, bringing in more tourists and

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Supreme Court decision limits recovery for home buyers

Mortgage agreements are complex and difficult for many consumers to understand. Prospective buyers often rely on the expertise of their realtor and the advice of their mortgage company representative or banker to help them parse the language and terms of the agreement. Some homebuyers choose to be represented by an

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Existing home sales increased last month

Experts say that the increase in existing home sales last month is yet another sign that the housing market is stabilizing and will soon improve. Purchases of existing homes increased by 3.4 percent in April. Industry analysts say that improvements in the job market and historically low interest rates on

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How Facebook insiders are using trusts to avoid estate taxes

Facebook is in the news for more than launching its first initial public offering these days, as one news article reports. We thought Michigan residents might be interesting in learning how Facebook founder Mark Zuckerberg and several company insiders are using a legal tactic called a “grantor-retained annuity trust” to

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FTC warns timeshare owners of fraud risks

The Bureau of Consumer Protection at the FTC is warning anyone who owns a timeshare to expect a call from phony companies perpetrating a fraud. The scheme has become so widespread that the FTC says timeshare owners all over the country can expect to be approached and offered phony deals.

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Historic Penobscot building purchased

The Penobscot building in Detroit’s downtown financial district is one of the city’s most iconic skyscrapers. Built originally in the 1920, it is actually three buildings that are interconnected. It was the tallest building in Detroit for about 50 years. The purchase by a Canadian real estate firm is seen

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Springtime home tours start in Detroit

Many major cities have a tradition of spring home tours of notable area residences. Being a part of a home tour can help homes that are for sale get better visibility and can help bring notoriety to the neighborhood. In Detroit this spring, homeowners associations from all around the city

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Green features help attract Michigan home buyers

Even in the tough economy, Michigan families looking for a new home can still be quite choosey. One of the important features for many home buyers is how environmentally friendly a home is. Energy efficiency can save families large amounts of money over the course of owning a home. Investing

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Factors to consider before buying a second home

While the economy is certainly not totally recovered, this might still be a good time for some Michigan residents to consider buying a second property. With low mortgage rates and plenty on the market to choose from, many people who can afford it are choosing to purchase a second home

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