Metro Detroit home sales, prices hit 10-year record high in May

Metro Detroit home sales and media sale prices hit a 10-year record high in May, according to Farmington Hills-based Realcomp Ltd. II.

Realcomp: Sales up 8%, median sale prices rise 3.8%, year-over-year

Metro Detroit saw record median home sale prices in May, while the number of sales reached a 10-year high, in the latest year-over-year figures released Thursday.

Median home and condominium sales jumped 8 percent and sale prices increased 3.8 percent in Wayne, Oakland, Macomb and Livingston counties, according to Farmington Hills-based Realcomp Ltd. II. 

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In search of Detroit’s most beautiful blocks

A Spanish colonial house on Harbor Island

Detroit is seldom celebrated for its beauty. National and local outlets love to expound the city’s “gritty” virtues (can we retire this word, please?), but rarely do you hear much about prettiness in the city. Though it’s become a cliché, it’s worth re-printing Elmore Leonard’s famous quote: “There are cities that get by on their good looks, offer climate and scenery, views of mountains or oceans, rockbound or with palm trees; and there are cities like Detroit that have to work for a living.”
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Michigan economy will hum along next 2 years, UM economists say

Michigan will add about 126,000 jobs in the next two years, according to the annual November forecast released Friday by economists at the University of Michigan

In the forecast: 126,000 new jobs, unemployment falling to 4.5%


Michigan will add about 126,000 jobs in the next two years, according to the annual November forecast released Friday by economists at the University of Michigan.

If that forecast proves accurate, it will mean eight consecutive years of growth for the state economy.

Michigan will have gained more than 586,000 jobs during the economic recovery from the summer of 2009 through the end of 2017 — returning the job count to levels last seen in the spring of 2003.
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High returns bring foreign investors to Detroit real estate market

The Charles Trombly House at 553 E. Jefferson Ave. is one of the few remaining pre-Civil War buildings in Detroit still standing.

Comparatively high rates of return on real estate investments in greater downtown and metro Detroit as a whole continue to drive foreign investors to the region in search of deals.

It’s difficult to quantify exactly how much money from overseas has been spent on real estate investment sales in the past few years, but it’s well into the several hundred millions of dollars, said Dennis Bernard, founder and president of Southfield-based Bernard Financial Group Inc.
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Detroit Property Management has worked with investment funds and high net worth individuals in dealing with each stage of the investment process

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Detroit Property Management has built up a strong network of clients and professionals and is active in acquiring and disposing of properties on their behalf

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Detroit Property Management has experience in developing property in the USA: Assessment of development proposals, Negotiation of contracts

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