Galloway and Collens, PLLC
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Real Estate Transactions Archives

The outlook for the housing market in 2013

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 their New Year's resolution to buying a new home.

Auto-industry woes and its impact on Michigan vacation homes

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 Michigan. Families no longer able to afford two homes were forced to sell their summer homes for a more fiscally responsible future, a true reflection of the changing economy.

Seventeen year old land dispute takes center stage in political race

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 campaigns that seem to be more concerned with slinging mud rather than focusing on making change happen.

Two hundred seventy-six acres of land ready for mall construction

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.

Rising real estate market could mean change in price negotiations

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.

Saving restaurants through investment

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 you wonder if you will ever be able to consider it a successful journey.

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.

Mortgage preapproval gives buyers an advantage

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 at competitive prices, giving sellers an advantage in choosing the most desirable buyer.

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.

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