Real Estate Transactions

Whether you’re buying or selling your home in Michigan, the recent news about real estate prices may be good or bad news to your ears. According to recent numbers, home prices seem to finally be on the rise, leading some to say that first-time home buyers may want to change

During the recession, real estate agents around Lake Huron’s southern shore saw massive changes to the real estate market, and not just in terms of foreclosed homes. As the automotive industry scaled back, so too did blue-collar families who had owned vacation homes along the shores of Lake Huron in

If there is one thing that the people of Michigan are sick of right now it’s the recent flood of political ads that seem to have taken over the airwaves. Over the past few decades the once “vote for me, I’m the right choice” ads have given way to smear

In Michigan, and other states across the nation, the recession not only affected people but businesses as well. Many struggling business owners found it difficult to keep their shops open thus adding to the bleak outlook for the market. For many towns, even malls took huge hits, with big name

During the recent recession, hundreds upon thousands of people in Michigan and across the nation watched as housing prices plummeted. With people foreclosing on houses left and right it seemed that it was going to be a buyer’s market for quite some time. But now, with the rate of new

When you go hiking in the woods, generally there are no paths, there may not be any signs to guide you on your way and usually you’re navigating without a map or a sense of direction. You know the road ahead will be dangerous, there will be risks, and sometimes

Some developers choose to offer a portion of the units for cash-only sale, while offering the others as apartments for rent. Cash only offers a benefit to developers, since many commercial mortgage companies won’t lend for a building that is less than 51 percent sold. By offering a smaller number

City and state officials announced a plan this week to transfer management and fiscal responsibility for Detroit’s Belle Isle park to the state government. The lease will run for 30 years and is a part of a larger plan to upgrade and beautiful the deteriorating island. The park is one

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 desirable properties are now getting multiple offers

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. Foreclosure rates have

New housing data indicates that short sales are become more and more common as an alternative to possible foreclosure. A short sale occurs when a property owner sells for less than the amount owed on their mortgages. A short sale may enable a property owner to preserve their credit rating

Detroit is one of only three metro areas to show a rise in home prices, according to the Case-Shiller index released recently. The report shows that in January of 2012, home prices were up by 1.7% over the previous year. Experts say that it is difficult to draw conclusions from

Despite unfavorable housing data for 2012, market-watchers are saying there are signs of an improving real estate market. Experts from prominent ratings agency Moody’s told reporters this week that even though some indicators are down, optimism is up. Construction firms are applying for more new permits, and they are being

What if, instead of re-selling a foreclosed property, the bank decided a renovate it and become a landlord? This could become the norm, as more and more investment banks have begun bidding on large pools of foreclosed properties and converting them in to rental housing. Traditionally, banks that foreclose on

Each mortgage contains a small hidden fee, known as the guarantee fee, or “G-fee.” The fee has been silently included in mortgages for more than 30 years, and Congress has recently mandated an increase. It is not clear at this time when the increase will take effect, but it analysts

Many people who bought investment properties during the housing boom will now enjoy some of the same assistance from the government as people who bought houses to live in. The Obama administration has decided to extend mortgage assistance to first time investors who bought more than one home before the