White House Considers Free Money

By Mike Colpitts Weighing its political options, the Obama administration is carefully considering recommendations of Housing Finance Agencies in four states to reduce mortgage principal of homeowners at risk of foreclosure. The proposals made to the White House could act as a magic bullet to aid in the recovery of the nation’s housing markets, giving… Continue reading White House Considers Free Money

2010 Michigan Housing Market

Driven by the lowest home prices in decades, the Michigan housing market has little chance of ever catching up with home prices that residences were once selling for but markets have made compelling improvements over their disastrous fall-outs. The “Big 3” auto companies re-hiring of thousands of workers should eventually help the state recover. As… Continue reading 2010 Michigan Housing Market

Housing Shows Stabilization

By Mike Colpitts More than four years after beginning its downturn, many housing markets are stabilizing. Stabilization is key and the first step in the recovery process as markets settle from the worst housing crash since the Great Depression. The long-running housing depression is far from over, but there are more indications that stabilization is… Continue reading Housing Shows Stabilization

Sun Belt Leads in Foreclosures

Four of the most populated sun belt states account for the highest foreclosure rates in the nation, according to the RealtyTrac mid-year foreclosure market report. California, Florida, Nevada and Arizona urban areas produced 35 of the 50 highest foreclosure rates among metro areas. The report was tabulated from metro areas with populations of at least… Continue reading Sun Belt Leads in Foreclosures

2019 Michigan Real Estate Market Predictions

​Michigan’s housing market experienced some highs and lows in 2017. It was a year of highs for sellers, with more money coming in over listing prices and plenty of people buying. The lows came to people buying, who needed to bid high to get even the lowest priced homes. Now let’s start looking at what… Continue reading 2019 Michigan Real Estate Market Predictions

2015 Michigan Housing Market Predictions

Find out whether a home in the Detroit housing market is right for you.

The Michigan Housing Market experienced a slow increase in the first half of 2015. Current reports seem to indicate that the rise will continue even more vigorously for the next year (until mid-2016 and presumably on afterwards). Currently rated as the 13th out of the 50 states, Michigan’s economy is considerably one of the strongest in the… Continue reading 2015 Michigan Housing Market Predictions

2014 Michigan Housing Market

By the end of 2012, prospects appeared mixed for the 2013 Michigan housing market: on one hand, real estate experts remained well aware of the fact that the recession greatly affected the state. On the other hand, the Detroit housing market was poised to make one of the biggest comebacks in U.S. history. So, did any of these… Continue reading 2014 Michigan Housing Market

Foreclosures Rise 18%

The epidemic of foreclosures is rising, according to newly released figures from RealtyTrac, despite a slight slowdown in activity during the month of May. Year over year foreclosures rose 18%. Foreclosure filings, including default notices, scheduled auctions and bank repossessions were reported on 321,480 properties during the month, a decrease of 6% from April. The… Continue reading Foreclosures Rise 18%

2013 Michigan Housing Market

The Great Recession hit Michigan harder than many other states, resulting in massive employee layoffs and the closure of several major auto manufacturing plants. However, the state’s biggest city, Detroit, also known as Motor City, appears to be poised for a remarkable comeback. For one thing, Chinese real estate investors are focusing on the city’s… Continue reading 2013 Michigan Housing Market