Detroit has plenty of pockets of distressed property that qualifies for federal neighborhood recovery spending.  A significant portion of American Recovery and Reinvestment Act of 2009 (ARRA) funding being released by the U.S. Housing and Urban Development (HUD) has been going toward areas with the greatest numbers of distressed property, providing buying opportunities to first-time home buyers with low- to middle-income.

Real estate professionals have the opportunity to assist home buyers in realizing grants and programs afforded by the American Recovery [...]

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The Detroit School District has spent, what some say are suspicious, millions on past leases and land deals. A district spokesman stated that the district spends $2.2 million annually on real estate leases alone.

An investigation has ensued to review every real estate transaction for the past several years in order to determine whether any misuse or abuse of funds has occurred.

School board member Marie Thornton, among others, raised concerns about the amount the district spends on leases. She [...]

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Next Tuesday, the public will have access to Detroit’s new 25,700-square-foot, three-story transit center. The Rosa Parks Transit Center hosted a sneak peak for media on Thursday. What is being noted as the state’s largest transit center will provide 24-hour service for Detroit Department of Transportation (DDOT), Transit Windsor and SMART buses and Detroit People Mover passengers.

Located on the corner of Michigan and Cass Avenues, the transit center was two years in the making. Conveniences provided are [...]

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For the first year since 1981, permits for demolition are surpassing those for new home construction. In addition, southeast Michigan home building permits fell for the fourth consecutive year in 2008. According to representatives from the Southeast Michigan Council of Government (SEMCOG), that’s the sharpest downturn in over 50 years.

Detroit is a contributor to a good portion of those numbers. Some of the city’s areas are blighted. Either property has not been kept up or has [...]

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We have heard about the situation in regards to Detroit real estate. It’s bad, really bad. I even wrote a post on the subject about two months ago titled “Is Buying Real Estate in Detroit a Good Idea“. Along with that post was information on individuals and companies pouncing on Detroit to scoop up some really good real estate deals in bulk. Well I wanted to see how many homes could really be purchased for $50,000 and the results [...]

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