If you are interested in restoring foreclosed historic homes, here is some good information on how to make historic preservation economically viable from Crain’s Detroit Business.
Archive of entries posted on October 2009
Renaissance Zones -tax free areas of Detroit
The Renaissance Zone program is a collaborative effort between the City of Detroit, the County of Wayne, and the State of Michigan to give tax incentives to residents and businesses. The City of Detroit has designated sixteen areas as Renaissance Zones. This program works to encourage economic stability and development within the eight designated areas [...]
The trickiness of investing in Detroit real estate
This recent Reuters article exemplifies several attractions and pitfalls of investing in foreclosed properties in Detroit.
Take this for example
Wallace, 27, said he did not want to leave his fiancee and two children with a mortgage before shipping out to Iraq later this year.
“I still have student loans and I’m trying to be responsible. I don’t [...]
Not all Detroit Foreclosures are in Detroit
Hazel Park, Eastpointe and Pontiac all had higher rates than Detroit, according to a Free Press analysis of metro area foreclosures over the past 3 1/2 years.
Read the rest of the story in the Detroit Free Press
Don’t Believe All the Hype About Detroit
The Detroit real estate market and Detroit foreclosures and the is in many places in the news, all around the world. But just because you see something in print on Web, of course, doesn’t mean it’s true. Question the source. I read this article on The Denver Website (yes Colorado) about Detroit foreclosures. What do [...]
Not Everyone Hates Detroit
Beautiful photo mosaic, click to see
I Will Stay If…
Restoring Heritage and Historic Homes
Detroit was founded in 1701, over 3 centuries ago. Naturally, we are bound to have older homes. And some would be categorized as “historic” or “heritage” because of their age and/or architectural significance or association with historic figures or events. Heritage, or historic, property in Detroit can be a unique real estate investment.
Heritage properties suffered [...]
Tax Credits for Historic Property in Detroit
Detroit property that meet a certain criteria in age and/or importance are eligible for tax credits that make investing in these properties even easier.
At the federal level, you can apply for a Federal Rehabilitation Tax Credit of up to 20 per cent of a restoration. If your property has not been certified, you can apply [...]
Top 5 Foreclosure Markets in the US
And I work with 2 of these markets! Detroit is on the list. Check it out…
Top 5 Foreclosure Markets in the US
Free foreclosure list – 11/01
Ask Michelle your Detroit real estate question and see your answer posted here.