Tagged: foreclosures

Nov 28

#ShopSmall, Save Big – Michigan Real Estate

Get ready to shop ‘small’ and save big in the Michigan real estate market this weekend!

#ShopSmall is the official hash tag for Small Business Saturday, which arrives this weekend. Sandwiched in between Black Friday and Cyber Monday this day makes up one of the most beneficial and meaningful.

It’s a great time to support the incredible Michigan entrepreneurial movement and support local small businesses, as well as scooping up great bargains on everything from loans to homes.

Experts predict this will be a $5 billion sales weekend. Hopefully much of that revenue will go to local small businesses which are largely responsible for job growth and boosting the local economy.

By ‘shopping small’ at local businesses it helps all locals and the real estate market. It can also mean big discounts too, and encourages more Michigan entrepreneurship.

Shopping small can also mean small price tags on big items, and there are many of these opportunities in the Southeast Michigan property market. Regional house prices are reportedly up 17% year over year, but there are still many deal among REOs, foreclosures and other distressed properties. Look to local real estate industry professionals for deals on their services and the best expert knowledge and service.

It’s a great weekend for Michigan real estate professionals to save big by shopping small business too. Fox Business suggests there are still some items which may be offered on better terms later in the season like tablets, DSLR cameras, brand name HDTVs, toys and Christmas decorations.

However, many will find deals on real estate marketing bundles, educational packages, events, books, subscriptions, office supplies and other essential business items.

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Aug 15

Real Estate Wholesalers Find Heaven In Southeast Michigan

Real estate investors looking for a sweet spot for wholesaling properties are finding Southeast Michigan checks all the boxes, and not for the reasons most assume…
Between declining U.S. foreclosures and rapidly rising home prices some real estate wholesalers have been sweating it; and wondering what their next move should be. Maybe it’s time to check out SE Michigan, and all of the benefits is offers for those flipping houses.
Detroit has become somewhat famous for being land of the cheap homes over the last few years, and that means it’s easier to diversify, turn multiple deals and enjoy good sustainable deal flow. That means lower operational costs, and higher net returns, compounded by the number of deals you do.
In Detroit ‘Distress = Dollars’. We’ve all heard the news of the city’s bankruptcy and title as one of the most distressed areas. While we all feel for those individuals, workers and families suffering as a result of this, distress has actually turned out to be great for the South East MI housing market. It has brought in tons of outside capital and spurred serious efforts to revitalize the area.
The worst is over here, and while there is a lot of work to do Inman News and RealtyTrac report Michigan as one of the few states that have experienced foreclosure activity levels returning to historic or below historic levels.
Compare this to other places where foreclosure activity is just starting in earnest with numbers tripling in places like Baltimore. Here values are headed up, and sales are up 50% year over year as of July 2013.
Rehabbing costs can be a lot cheaper in this area compared to other areas like MD where Bloomberg reports the average home requires $60k in renovations.
In Southeast Michigan there is something for everyone. It’s not just about downtown Detroit. Those looking for a higher end product and low crime can look to Shelby Township and the leafy suburbs.
Plus, perhaps most importantly, this is where you’ll find one of the few investor friendly title companies left – MyCoordinatorLLC, where you’ll find incredible help and double closings welcomed.

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