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Builders optimistic about future of Michigan real estate development

On Behalf of Galloway and Collens, PLLC | Jun 30, 2012 | Residential Real Estate

In our last post we discussed new incentives that states are giving to home buyers to stimulate the housing market. Those efforts seem to be helping aid the recovery of home prices and have the added benefit of filling up homes that have gone unoccupied since a...

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State grants help prospective homeowners make the leap

On Behalf of Galloway and Collens, PLLC | Jun 28, 2012 | Residential Real Estate

Deciding to buy a home is an exciting and daunting prospect, whether it's your first purchase or you're a seasoned residential real estate investor. Low home prices have contributed to a favorable real estate market for buyers, but many families are still suffering...

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Estate planning: joint tenancy and asset ownership

On Behalf of Galloway and Collens, PLLC | Jun 27, 2012 | Estate Planning

When establishing an estate plan it is important to determine how you own something, such as an investment account, real estate property or even a checking account. Consider the example of a couple who brings not only separate property to a second marriage, but...

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Single-family home rentals on the rise

On Behalf of Galloway and Collens, PLLC | Jun 22, 2012 | Residential Real Estate

Single-family homes have been a hallmark of the American Dream and ownership has been an important life accomplishment for many people. However, the housing bubble and foreclosure crisis has turned the industry on its head in many ways and owning a single-family home...

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Why Michiganders should mix estate and retirement planning

On Behalf of Galloway and Collens, PLLC | Jun 20, 2012 | Estate Planning

You don't need to have a massive fortune on the scale of Bill Gates or Warren Buffet to benefit your retirement while planning for the future of your estate. For Michiganders thinking about retirement, most likely the kids have grown and you are decades away from end...

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Mortgage preapproval gives buyers an advantage

On Behalf of Galloway and Collens, PLLC | Jun 20, 2012 | Real Estate Transactions

As the housing market continues its slow but steady recovery, many Michigan investors and residents are considering purchasing properties while prices are still low. At the same time, the market has gotten more competitive than it was over the past few years, and...

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Michigan home repossession rates drop 42 percent

On Behalf of Galloway and Collens, PLLC | Jun 15, 2012 | Real Estate Transactions

We talk about local home prices and how the housing market is doing in general a lot on this blog. The housing market in Detroit affects a lot of other segments of the economy and is often used as a bellwether for Michigan's progress towards economic recovery....

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Reese Witherspoon’s father placed in conservatorship by family

On Behalf of Galloway and Collens, PLLC | Jun 13, 2012 | Probate Litigation

With Father's Day just around the corner we thought our Michigan readers might be interested in a story about the need to protect our elderly loved ones from a variety of threats, including dementia. The story involves the elderly father of Academy Award-winning...

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Low home prices affect all market segments

On Behalf of Galloway and Collens, PLLC | Jun 12, 2012 | Residential Real Estate

Amidst all of the news about lower foreclosure rates and an improving economy, low housing prices linger as one of the primary signs of a recent recession. While this is good news for investors and buyers looking to get a good deal on a property that will increase in...

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Real estate industry keeps an eye towards new workspace trends

On Behalf of Galloway and Collens, PLLC | Jun 9, 2012 | Commercial Real Estate

In our last post we discussed the revitalization of the downtown Detroit area and new development that is happening there. In addition to the introduction of national retail chains, many local and national businesses are moving into office spaces in Detroit. While...

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