Michigan Foreclosure Spot

“Greenhabbing” MI Foreclosures

Jamie Kennedy — Fri, 11 Dec 2009 19:38:54 +0000

Ryan Burk, a Michigan real estate investor, has taken the idea of rehabbing MI foreclosures to a new level. His company, In The Now Investments LLC, installs energy-efficient products during renovation of the Detroit area homes he purchases. Of the MI foreclosures he has rehabilitated, all are equipped with high-performance insulation in the attic and [...]

Thousands Flock to Melvindale for Chance to Apply for Housing

Jamie Kennedy — Sun, 29 Nov 2009 18:08:40 +0000

Evidence of a continued recession and the ongoing fallout of MI foreclosures was manifest in a recent, unexpected turn of events at an apartment complex in Melvindale. Over ten thousand applicants arrived at Coogan Terrace last week, a complex which qualifies for the Housing Choice Voucher Program, also known as Section 8. This 199-unit high-rise [...]

Value Losses from Flood of MI Foreclosures Reflected in Auction of Silverdome

Jamie Kennedy — Sat, 21 Nov 2009 16:16:52 +0000

Reflecting the huge losses banks are taking on their inventory of MI foreclosures once resold on the open market, the recent auction of the Silverdome for just 1% of what it cost to build in the early 1970s reveals just how difficult things have become for commercial real estate ventures. However, that sale has been [...]