home prices http://michiganradio.org en Lawmakers seek to shorten the amount of time to stop a bank foreclosure http://michiganradio.org/post/lawmakers-seek-shorten-amount-time-stop-bank-foreclosure <p>Opponents of a plan to change the foreclosure process in Michigan say it would put more people out of their homes and hurt property values.</p><p>They were in Lansing today to protest a package of bills in the state Legislature.</p><p>The legislation would shorten the amount of time homeowners have to stop a bank foreclosure from six months to two months.</p><p>Ingham County Register of Deeds Curtis Hertel Jr. says banks have wrongly foreclosed on thousands of properties across the state.</p><p>He says it often takes months for people to prove they don’t deserve to lose their home.</p> Tue, 28 May 2013 21:08:01 +0000 Jake Neher 12778 at http://michiganradio.org Lawmakers seek to shorten the amount of time to stop a bank foreclosure "World's largest property auction," Wayne County finishes first round http://michiganradio.org/post/worlds-largest-property-auction-wayne-county-finishes-first-round <p>Wayne County has finished the first round of what’s been called the "world's largest property auction."</p><p>The county is trying to get rid of more than 22,000 tax-foreclosed properties by auction. More than 20,000 of them are in Detroit.<br><br>But despite the glut of vacant properties, housing prices are headed up in certain areas of the city. Bob Dorsey is chief analytics-officer with F.N.C., which tracks housing prices nationwide every month.<br><br>"We've noticed that there are certain neighborhoods that have done extremely well, and others that have are still very flat or even declining," said Dorsey.<br><br>Dorsey said many investors see money in an expanding rental market in Detroit, and nationwide. Leaders in Detroit’s downtown and midtown areas say housing demand now out-paces supply there. Mon, 24 Sep 2012 14:42:58 +0000 Sarah Cwiek 9210 at http://michiganradio.org "World's largest property auction," Wayne County finishes first round Detroit housing prices down in April, but up from last year http://michiganradio.org/post/detroit-housing-prices-down-april-last-year <p>Detroit housing prices fell 3.6 percent from March to April, but were still higher than they were in April 2011.</p><p><a href="http://www.standardandpoors.com/servlet/BlobServer?blobheadername3=MDT-Type&amp;blobcol=urldocumentfile&amp;blobtable=SPComSecureDocument&amp;blobheadervalue2=inline%3B+filename%3Ddownload.pdf&amp;blobheadername2=Content-Disposition&amp;blobheadervalue1=application%2Fpdf&amp;blobkey=id&amp;blobheadername1=content-type&amp;blobwhere=1245335808401&amp;blobheadervalue3=abinary%3B+charset%3DUTF-8&amp;blobnocache=true">A report released today by S&amp;P/Case-Shiller Home Price Indices</a> shows that, nationwide, home prices rose for the first time in seven months. But Detroit was the only city, of the 20 &quot;metropolitan statistical areas&quot; (MSA&#39;s) they look at, to show a monthly decline.</p><p>The news wasn&#39;t all bad for Detroit.</p><p>Looking annually, Detroit is one of 10 cities that saw prices rise compared with the same period a year ago. On a national level, annual figures ticked downward.</p><p><em>-John Klein Wilson, Michigan Radio Newsroom</em> Tue, 26 Jun 2012 16:15:32 +0000 Michigan Radio Newsroom 8036 at http://michiganradio.org Detroit housing prices down in April, but up from last year Michigan's home prices are stabilizing http://michiganradio.org/post/michigans-home-prices-are-stabilizing <p>A new report says home prices in Michigan, and the rest of the country, are&nbsp;stabilizing.&nbsp;&nbsp;&nbsp;</p><p>During the&nbsp;recession, home prices swung wildly.&nbsp; First plunging down, then&nbsp;bobbing up as government incentives spurred buying.&nbsp;&nbsp;</p> Thu, 08 Dec 2011 06:01:01 +0000 Steve Carmody 5285 at http://michiganradio.org Michigan's home prices are stabilizing Home sale prices may be stabilizing (but not in Detroit) http://michiganradio.org/post/home-sale-prices-may-be-stabilizing-not-detroit <p>There&#39;s positive news about the nation&#39;s home prices, but that&#39;s not&nbsp; the case in Detroit.&nbsp;&nbsp;Data released by Clear Capital today&nbsp;suggests home sale&nbsp;prices nationally may be stabilizing.&nbsp; Home prices lost ground&nbsp;through the winter months, and the latest data shows prices dropped by&nbsp;2.3% in May.&nbsp;&nbsp;</p><p>But the good news is prices being paid for&nbsp;repossessed homes nationally actually increased last month.&nbsp;&nbsp;&nbsp;Foreclosed homes have been dragging down home sale prices, but that&nbsp;might be changing.&nbsp;</p> Thu, 09 Jun 2011 05:01:01 +0000 Steve Carmody 2809 at http://michiganradio.org Home sale prices may be stabilizing (but not in Detroit) Detroit home prices continue slide http://michiganradio.org/post/detroit-home-prices-continue-slide <p>Detroit&rsquo;s home prices may soon take another tumble.&nbsp;&nbsp;<a href="http://www.standardandpoors.com/indices/sp-case-shiller-home-price-indices/en/us/?indexId=spusa-cashpidff--p-us----">Standard &amp; Poor&rsquo;s Price-Shiller index</a> says home prices in the nation&rsquo;s 20 largest cities are falling once again.&nbsp;&nbsp;&nbsp; Home prices in Detroit aren&rsquo;t falling as fast as other cities in the survey, but then again Detroit&rsquo;s home prices are already the lowest among the nation&rsquo;s 20 largest cities.&nbsp;&nbsp;</p> Tue, 31 May 2011 18:55:29 +0000 Steve Carmody 2691 at http://michiganradio.org Detroit home prices continue slide Foreclosure rates will continue to rise in Metro Detroit http://michiganradio.org/post/foreclosure-rates-will-continue-rise-metro-detroit <p>Livingston and Macomb Counties showed some improvement in Metro Detroit&rsquo;s slumping home sale prices and sales since January. Macomb County boosted home sales by 5% in the four month period. Livingston County increased home sale prices by 8.5% in April to $140,ooo.</p> Tue, 17 May 2011 18:19:52 +0000 Michigan Radio Newsroom 2535 at http://michiganradio.org Foreclosure rates will continue to rise in Metro Detroit Detroit home prices still slumping http://michiganradio.org/post/detroit-home-prices-still-slumping <p>Detroit home prices continue to slump. New data from <a href="http://www.clearcapital.com/company/MarketReport.cfm?month=April&amp;year=2011">Clear Capital</a> show the average sale price in the first three months of the year for a home in Detroit was roughly 60,000 dollars.&nbsp;</p><p>Alex Villacorta&nbsp;is an analyst with Clear Capital. He says foreclosed homes continue to clog Detroit&rsquo;s housing market, depressing sale prices.&nbsp;</p><blockquote><p>&ldquo;Once those saturation rates come down I do think you&rsquo;ll see prices start to stabilize a little bit.&nbsp;&nbsp; Even if the overall health improves we&rsquo;ll see may a more sustained price growth looking forward.&rdquo;</p></blockquote><p>Home sale prices held steady in most of the nation in the first quarter of 2011, except in the western U.S. where home sale prices fell to levels not seen since 2001. Thu, 07 Apr 2011 13:01:09 +0000 Steve Carmody 1953 at http://michiganradio.org Detroit home prices still slumping