The Wayne County
Tax Sale Re-offer is rapidly
approaching with thousands of residential, commercial and vacant land
properties on the auction block and minimum bids at a fraction of the county assessed
values.
Whether you’re an experienced investor or a real estate
rookie, see why the media and analysts are raving about Detroit real estate. Check
out the October tax sale re-offer
on Bid4Assets and buy now while prices are at historic lows!
The Michigan economy
is growing rapidly
- The Michigan Economic Activity Index rose 2.0 points in June, to a 10-year high of 105.9 according to economists at Comerica Bank (CBS News)
- Consumer sentiment increased unexpectedly in September to 79.2, up from 74.3 in August (Bloomberg)
- Helped by the auto industry recovery, Detroit unemployment rates have dropped by 2.4 % over 12 months (CNN Money)
Home prices are on
the rise and inventory is decreasing
- The number of single family homes sold in July 2012 increased by 14 percent compared to July 2011, according to the Michigan Association of Realtors (CBS News)
- Between the first quarter of 2011 and the first quarter of 2012, the median price went up by 8.6%, one of the largest increases in the country (24/7 Wall St.)
Rental rates have
exploded in the metro area
- Average rental prices in the Detroit market have shot up 5% over past year, according to Rent Jungle (CNN Money)
- Rents are projected to climb to $720/month and vacancies will decrease to 4.5%, which is on par with the national average for metropolitan areas (Wall Street Journal)
Still not convinced? Read why Forbes is calling Detroit
the “Comeback Kid”
Sources
1 CBS News Detroit: Michigan
Economy Returns To 10-Year High In June
2 24/7 Wall St: Ten Towns That Cannot Turn Around
2 24/7 Wall St: Ten Towns That Cannot Turn Around
3 Bloomberg News: Michigan
Consumer Sentiment Unexpectedly Rose in September
4 CNN Money: Best
cities to buy rental properties
5 Wall Street Journal: Even
Detroit Looks Good for Rentals
6 Forbes: Detroit Real Estate: Comeback
Kid?
