Oftent, people think those who have a great deal of assets must have all of their estate planning ducks in a row. However, the death of Soprano’s star James Gandolfini showed that not everyone has taken the necessary steps to ensure that a comprehensive estate plan is in place. Because
Across one city in Michigan, property owners are turning to the Internet and online auction to move sales. A building in downtown Detroit isn’t your standard eBay listing, and the property owners are using property-based selling sites such as Auction.com, but the principles of the Internet auction remain the same.
As real estate markets in Michigan and the rest of the country improve, new real estate offices and residential and commercial real estate investment opportunities are popping up all over the place. Indeed, in recent events, Sotheby’s International Reality has announced the opening of a new real estate office in
The economic recession hit the United States hard, but some areas of the country suffered more than others did. One such area was the Detroit-metro area. However, a recent report by Crains Detroit Business shows that the same area is now seeing a boost in residential real estate sale prices.
When it comes to purchases and sales of Detroit area real estate, there is one historic building that numerous people have admired — and it used to be the headquarters of the Detroit Club. Built in 1892, the four-story building is made of red brick and stone and it was
Every estate plan is different. Despite the size of an estate or the value of any assets, an estate plan is pretty much the same process for all Michigan residents who want to protect their family and also protect all for which they have worked. For those who have not
A group of property owners has requested the U.S. Bankruptcy Court if it can issue an eviction notice to a bankrupt construction company that is inhabiting an investment property in Grand Rapids, Michigan. The petition was filed on July 16. Allegedly, the construction company has failed to pay over $45,000
Before entering into any real estate transaction, buyers must have a thorough understanding of everything that is — and isn’t — stipulated in the contracts. Prospective buyers who do not have legal or real estate professionals review the contracts before signing may find themselves in a sticky situation as one
Office space in downtown Grand Rapids, Michigan, became more popular during the first six months of 2014. Several buildings were bought and sold, and the owners of some buildings announced remodeling and/or repurposing plans. As a result, downtown Grand Rapids has been experiencing a minor boom and a rise in
Abandoned and dilapidated residential properties have been torn down throughout Michigan after the U.S. Treasury Department allowed money from the “Hardest Hit” foreclosure relief fund set up by the Troubled Asset Relief Program to be used to take down the homes. Now, it looks like the same thing may be
A zoning change in the city of Grand Rapids could lead to a series of undesirable effects, according to residents in the area. The city commission is working to decide whether to permit purchases and sales of a corner lot on Seward Ave NW and Lake Michigan Drive. If approved,
Town officials in Saginaw, Michigan, are thinking of making a change to the way that water customers are allowed to open up new accounts. Until now, they had been asking people for $100 when they started an account, but they are discussing a move that would raise that total to
Whenever a celebrity dies, the news is typically flooded with every last detail of their demise. Then, details about the value of their estate may be made public also. One way to avoid having these details made public is for celebrities or others who have a high value estate to
A new tactic is being used in West Michigan to finance rental properties, and it is one that many people may be familiar with by now: Crowdfunding. The popular tactic has been used for many other types of projects, but a new site that is being launched is aimed at
Bedrock Real Estate Services recently announced the purchase of the building that’s home to the Detroit Media Partnership. The price of the Michigan investment property has not been disclosed. However, Detroit Media Partnership’s president expressed happiness about the sale and the fact that Bedrock will be the building’s new owner.
The entire estate-planning process can be tricky for families to navigate. It may be challenging for an elderly family member or spouse to disclose assets and financial information to the people to whom they may be closest. However, the more transparency there is when it comes to an inheritance and
Maplegrove Property Management LLC, a Michigan real estate and property management firm, has finalized a deal to purchase a senior living facility and apartment complex in Ludington. The property management firm will now control the entire housing community, which boasts 172 individual apartments along with an independent senior residential facility.
Indian tribes who build casinos on unused land often find it to be a profitable endeavor. A land use battle is taking place in Michigan over non-reservation land. The Sault Ste. Marie Tribe of Chippewa Indians wants to build casinos on the land. However, a former U.S. congressman, who wrote
According to the real estate analysis firm Zillow, the number of cash real estate purchases has been dropping, even in Detroit, Michigan. This trend of cash purchases and sales being less prevalent can be seen all over the nation. It may be a sign that investor activity is fading and
Broaching the topic of estate planning can be somewhat uncomfortable for many people. However, it is better to have these plans in place long before they are needed in order to ensure that end-of-life decisions are handled accordingly. Estate planning covers various subjects from creating a will to appointing a
Another prime piece of Michigan commercial real estate has been taken off the market. The sale of the CPA Building in Detroit’s Corktown was apparently closed at the end of May. The 11,000-square-foot property was on the market for more than 11 years before it sold. The property is located
Commercial property sales have continued to show signs of economic strength this year, according to the Federal Reserve. The Fed issued a report on June 4 regarding the current state of the United States economy in various districts across the nation. Hopefully, some of the favorable commercial property activity referenced
A mobile home park near Flint, Michigan, has no water, as it has been shut off by the city. This leaves all of the tenants who pay for their spaces in the park without basic functionality for drinking, cooking and bathing. However, the fault seems to lie entirely with the
Home prices in Michigan have increased a full 11.3 percent in April as compared to last year. Nevertheless, according to statistics related to purchases and sales of real estate, price gains have been slowing this year and sales may be faltering. Indeed, the 11.3 percent increase is the lowest annual
Ensuring that everything is in order before purchasing a commercial real estate site is crucial to avoiding surprises down the road. When real estate transaction disputes do tie up a sale or prevent the planned development, as in the following case, property owners may need to enlist the court system
Many people wrongfully assume that they do not need to think about such things as estate planning if they are just starting out or do not have a great deal of valuable assets. Yet, anyone in Michigan who has children would be wise to make estate planning a priority. Also,
There are a number of important questions that individuals can ask before selecting a real estate agent. By asking these questions, Michigan investors can evaluate whether a particular agent is appropriate to represent them in their purchases and sales. Indeed, having the right representative on one’s side can often mean
A four-story office building in Detroit’s central business district sold for close to $2 million on May 6. The seller was asking $1.95 million for the 15,000-square-foot property, according to CoStar Group Inc. One of the buyers reported that the Library Street building sold for somewhere between $1.6 million and
A new hotel is coming to Ann Arbor, Michigan, and it is going to have 110 rooms for those who come to visit the popular college town. It will be an extended-stay hotel, according to the planners, who took it before the Planning Commission for a vote. It passed by
Detroit is adding three more tenants to the Z building downtown, evidence that commercial tenants are still looking for space. The commercial building, so named for its zigzag shape that spans from the corner of Library and Gratiot to the corner of East Grand River and Broadway, offers 10 floors,
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