Galloway and Collens, PLLC
248-284-1990
248-284-1990

Posts tagged "Detroit"

Belle Isle park redevelopment plan revealed

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.

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.

Supply dwindles, prices rise in metro Detroit housing market

Housing data from July has many market watchers optimistic about the recovery in Detroit. Last month, home sales rose by about 11 percent and the median sale price rose 12.2 percent after months of decline.

Investors, national chains meet in Dearborn to talk development

We've been writing a lot about Detroit development both in the downtown area and in nearby suburbs. Investors are seeing a lot of potential in the low property prices in Detroit and the rest of Michigan and some are grabbing the opportunity to be the first in line for an improving local economy.

Detroit home sales increase in June

More homes sold in the Detroit metro area last month compared with the same time last year, according to recently released data. This improvement is one of several signs of a slowly healing housing market for the Detroit area, which suffered significantly during the recession. Home prices are still 30 percent below pre-bubble levels, which makes it an appealing buying climate for investors who anticipate ongoing recovery in the real estate market.

New senior housing developments planned along Detroit riverfront

One building is already underway and a second will begin construction soon for a new housing complex for seniors on Detroit's east riverfront. The second complex will break ground early next year and be open in spring 2014. The new complexes will add to a growing list of new residential and commercial property development happening in Detroit right now.

Builders optimistic about future of Michigan real estate development

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 foreclosure. As a result, the construction industry has started to gear up for increased activity over the next few years, which may be a good sign for Detroit and the rest of Michigan.

Michigan home repossession rates drop 42 percent

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 been fluctuating slightly nationwide over the last year, with delays from litigation causing decline, followed by an increased rate when banks tackled backlogged accounts.

Real estate industry keeps an eye towards new workspace trends

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 space is plentiful now, many businesses are looking towards their long term interests and making sure that their office space can accommodate growth.

  • SuperLawyers 2019
  • dbusiness - Top Lawyers
  • Lead Counsel Rated Attorney
  • Rainbow Image
  • Senior & Caregiver
  • ICLE Contributor
Email Us For A Response

Contact Our Metro Detroit Attorneys

Our law firm is ready to help. Contact the real estate and estate planning attorneys at Galloway and Collens, PLLC, by calling 248-284-1990.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

26075 Woodward Avenue Suite 200 Huntington Woods, MI 48070-1341 Phone: 248-284-1990 Fax: 248-545-2520 Huntington Woods Law Office Map