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Archive of entries posted on September 2009

More tax-delinquent properties in Detroit

According to Freep.com, the number of tax-delinquent properties listed for sale in Wayne County’s annual auction beginning Oct. 19 has swelled to almost 9,000 this year, from about 2,000 properties in 2007, said Terrance Keith, Wayne County’s deputy treasurer.
The vast majority of those parcels are vacant lots in Detroit, he said, and most are unlikely [...]

Finding Million Dollar Foreclosures

In Detroit and Southern California, foreclosure opportunists are going after cheap homes in downtrodden neighborhoods, which are selling in the five-figure range.
But there are plenty of million dollar-plus homes out there, in good neighborhoods, which have fallen into foreclosure as the result of shoddy lending practices, speculative buyers and homeowners walking away from a negative [...]