One in Eighty Homes in Metro Detroit
That’s right, one in eighty homes in metro Detroit is in foreclosure. This Detroit News article highlights the glut of foreclosures in the area. It also mentions that with metro Detroit leading the way in foreclosures, the area described by Oakland, Macomb, Livingston, Lapeer and St. Clair counties is ranked 29th in the country for the number of foreclosures.
Silver Lining? Yep.
Just like the stock market, if you have the ability to buy low and sell high, this is the time to consider purchasing real estate. There is a convergence of declining property value and near historically low interest rates.
Need assistance in finding those properties? Here’s a place to begin your search throughout S.E. Michigan. If you are looking for similar properties in the Ann Arbor area, here’s another place to begin your search.