Real Estate Market Update
2019 could boost commercial real estate
Commercial property sales fell 10.5 percent from 2017, according to CoStar Group Inc. data
According to data by Washington, D.C.-based real estate information service CoStar Group Inc., last year there were 2,746 commercial real estate sales in Wayne, Oakland and Macomb counties between Jan. 1 and Dec. 31, 2018. That's a 10.5 percent decline from the 3,067 recorded in the 2017 calendar year and down 11.1 percent from 2015, the high water mark this century, when there were 3,090, CoStar data shows.
Counties sued over foreclosure surplus
Most Michigan counties are being sued over pocketing foreclosure surplus. The county is selling homes for delinquent taxes and pocketing the difference. Counties should provide homeowners the option to sell their own homes and pay delinquent taxes.
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Dearborn shuts down major hotel
The city of Dearborn shut down the former Hyatt Regency in the city, according to Crains Detroit.
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Solar panels
California is requiring new construction in 2020 and beyond to instal solar panels. The requirements could make solar panels more popular and cheaper.
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Buying your first home
Home prices are expected to increase next year while inventory continues to be small. Experts believe that loans could cost more and the housing market will spike next spring.
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Housing market
The price of homes has stabilized and more homes are on the market this month. If you are looking for a home, this is the time to buy. Call
313-819-0101 today for more information.
The housing market across America
Office market
Office market in Metro Detroit continues to improve and more space is needed as companies target the area.
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Unclaimed property website
New unclaimed property website started this week. The state is providing the site to help property owners claim lost properties.
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Houses needed
We have several clients looking for homes in the Dearborn and Dearborn Heights area. If you have a home for sale, call
313-819-0101 for a free analysis.