We’re officially rolling out our first time home buyer program to our investors. I know. I know. Many of you have already been working with us on the first time home buyer program but this is the official roll-out! In addition to our traditional program where you purchase the house from us and we manage [...]

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In Detroit real estate right now we’re seeing reduced inventories of foreclosed properties, increased bidding on the remaining foreclosure properties, and an increased price paid for these houses. That sounds like a turnaround to me, doesn’t it? We’ve hit bottom and we’re moving ahead. Expect housing prices to increase and for Detroit real estate to be getting better now. or… should we actually look at what might have caused this?

There are actually a couple of key events that happened in February 2009 and they both have to do with bad policy. In Detroit we had Sheriff Evans institute a foreclosure moratorium for Wayne County and we also had all of the large mortgage lenders including Fannie Mae and Freddie Mac agree to suspend foreclosures. On the surface these seemed like very reasonable and humane acts. If you dig further, you’ll find that all it did was give false hope and will probably lead to a longer down market.

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The biggest question I hear from people that are looking at Detroit for their real estate investments is the question about the oversupply of vacant houses. This then leads to the explanation of the basic principals of supply and demand that we all learned in Economics class. You remember, don’t you? The lower the supply [...]

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If you’re an investor of foreclosure investment properties in the City of Detroit or you own any vacant property within the City limits, TAKE NOTICE! The City of Detroit has implemented a new Vacant Property Procedure intended to secure and protect vacant properties for the safety of the community. The new procedure has been implemented [...]

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There are a lot of questions and uncertainty right now with a lot of people in Detroit because of a possible GM bankruptcy. What I find, however, is that most people have heard the doom and gloom scenarios and haven’t heard the real news. A GM bankruptcy is a real possibility and either way it’s [...]

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