Detroit Mi Foreclosures Market Heating Up

Despite what you may hear in the media these days about the real estate market, getting a good deal on a new home is possible for all sorts of homebuyers. Although many potential buyers might be worried about signing on for such a huge investment with many experts predicting a recession, but the sluggish real estate market should not deter you from fulfilling your dreams of homeownership. In fact, somewhat ironically, the sluggish real estate market has led to the emergence of one of the most profitable and lucrative markets for real estate in the past decade, the market for Detroit MI foreclosures.

Buying Detroit MI foreclosures is different from buying a home on the open market, but you'll find properties of the exact same quality with the exact same kinds of amenities. The only difference is that you'll be buying from a lender looking to collect a debt owed by a previous owner, which is why they are sold for so cheap. In fact, most buyers end up winning Detroit MI foreclosures for anywhere up to 50% below their actual market value.

What's even more interesting is that the market for these properties is currently flooded, making it a perfect time to find a property for as cheap as possible. The rate of Detroit MI foreclosures is currently hovering around 4.8%, meaning that nearly 5% of all properties in the Detroit area are in some stage of foreclosure. Having this many availabilities is bringing prices down even further at auction. Buying for such low values is a great way to beat the market's uncertainty?you get a great investment value as soon as you buy!

To learn more about the Detroit MI foreclosures market and to find listings for properties currently available, visit , which has an extensive library of properties in the Detroit area to choose from, and all kinds of helpful advice on buying.

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