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

Residential Real Estate Archives

Will 2015 be a big year for new home construction in Michigan?

It appears that Michigan could possibly see quite a bit in the way of new home construction in 2015. The Home Builders Association of Michigan predicts that there will be an increase in the demand for new single-family homes this year.

Huge estate up for sale in western Michigan

In the early 20th century, Holland Furnace Co. was the largest employer in Holland, Michigan and one of the most important businesses in the state. Its founders amassed significant wealth, including a massive estate known as Hazelbank.

Government sells hundreds of distressed homes

Government officials recently announced the sale of almost 700 distressed homes that it owns as a result of defaulting homeowners with government-backed mortgages. The problem of what to do with all of this real estate has apparently been creating some uncertainty in the market.

Renting versus owning

Deciding whether to rent or own a home is a big decision for Oakland County residents. Many families are still getting back on their feet after the tough recession, and choosing how and where to spend money and determining the best type of investments can be difficult. Housing prices and mortgage rates are still low, but it's still important to be cautious when choosing whether to buy a home or condo.

Rising home prices signal overall economic improvement

The number of sales of previously occupied home has risen 7.8 percent between August and July this year. The increased activity in the housing market is at its highest level in over two years, at a seasonally adjusted rate of 750,000.

Home price gains could be sign of long term recovery

In our last post we wrote about the rising home prices in Detroit. The city led the nation in gains this summer, topping out at six percent in May and June. Some experts say that the modest increases in markets all over the country could be a signal that the residential real estate market is beginning a permanent upward climb out of the recession's foreclosure cycle.

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.

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