August 2012

Detroit housing market leads nation in growth

Home prices rose by six percent in the Detroit area in May and June, leading the country in growth in what many experts say is a rebounding housing market. The average increase nationwide was 2.3 percent. “We seem to be witnessing exactly what we needed for a sustained recovery; monthly

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Buying vacation homes: getting your best investment

Though real estate law often deals more in disputes than in vacations, purchasing a vacation home can be a great investment for you and your family, and by using the law, you can work to protect your new asset. Negotiating for the best purchase agreement is a great move with

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More parents investing in housing for college students

Moving a child into their first college dorm has been a right-of-passage for many families as an offspring moves onto the next phase of their life. However, the dorm system is losing its popularity and more and more students are choosing to live off campus. College towns or neighborhoods with

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High-end home prices dropping

We’ve written in the past about the difficulty faced by owners who invested in a larger, more luxurious home during better economic times. Many owners who bought in the early 2000s have continued to hang onto their homes even as the mortgages may be underwater, in hopes that the prices

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Urban landscape changes as retail chains move in

Big box stores like Target and Walmart have been making headlines recently as new locations of the traditionally suburban warehouse stores are popping up in cities. The stores are smaller in size and designed differently and carry different merchandise that is packaged differently than suburban stores. Urban shoppers have previously

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Estate planning needs of adult children in Michigan

Oftentimes when a child turns eighteen in Michigan and elsewhere it is not considered a major deal, except to the child maybe. But did you know that once your child turns 18 years of age you could be kept out of certain decisions regarding their healthcare, among others? Without a

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Eminent domain creates conflict among government entities

Mortgage-backed securities made the news frequently in the first part of the recession when the housing bubble burst. A mortgage-backed security is basically an investment in the loans that are given to mortgage holders and entitles the investor to a share of the profits from that loan. This type of

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Home price index improves in many major cities

The home price index published by the S&P and Case-Shiller is one of the central economic indicators that many experts use to evaluate the recovery. While single months of data are not definitive indicators of how the economy or the housing market is doing overall, the numbers that come out

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