Residents of Michigan who may be interested in buying or selling a home in 2014 are paying attention to the changes in the real estate market that many experts are predicting for the year. Although it is expected that real estate purchases and sales in 2014 will continue to improve over the levels seen when the housing market collapsed, several factors are expected to lead to growth at slower rates than were seen in 2013.
As Michigan investment firms begins to roll out new forms of financing intended to give the commercial real estate market a much-needed boost, many developers might wonder if they are affordable. Several firms have announced plans to start up mezzanine funds, but this type of debt financing can carry interest rates of up to 30 percent. Although this funding is meant to serve as a quick method to inject money into a project early on, many feel that the loans are impractical and prohibitively expensive.