REAL ESTATE

Kyle Dubay and Bo Shepherd just got $410,000 for the home they bought as a decrepit property from the Detroit Land Bank Authority in 2019. Kyle Dubay, 34, and his partner, Bo Shepherd, 32, make a living giving old treasures a new life. The salvagers are always on the lookout...

Activists are scrambling to provide help to the remaining homeowners facing foreclosure

(CBS DETROIT) - Peak real estate season is right around the corner, and in a hot housing market, cash is king for many reasons. With all-cash offers, there's less chance of a sale falling through and usually a faster closing. It's still a seller's market in Michigan, as demand is high and inventory is low. While some say 2023 could bring a significant cooldown, we're coming off three years that many would describe as chaotic. "In 21 years of selling real estate, I've never seen anything as superheated as this market," said Michael Perna, CEO of The Perna Team.  If you or someone you...

Justin Hollis with District Capital recently closed a $1.65 million permanent loan for a property in Canton, Michigan. District Capital’s lender provided a 25-year loan for the single-tenant net-lease asset.

The '70s called and has decided to move to Southfield. Seriously, take a look inside this house and tell us you don't feel like you're ready to go to the disco or put on a pair of bellbottomed pants. From the wood-paneled conversation rooms to the sweet-ass basement, you'll find...

Andrew Cantor, executive vice president of development for Related Cos. (far right), address the Detroit City Council about amendments to the benefits deal tied to District Detroit ahead of a vote on March 28, 2023. (BridgeDetroit photo by Malachi Barrett) City Council members spent hours in public tweaking a community...

The Detroit Land Bank Authority has sold the derelict home to local businesswoman Shannon Steel

Council Member Mary Waters and the Detroit Land Bank Authority are at odds over a pending real estate deal that involves already occupied homes.Driving the news: The Detroit Land Bank Authority (DLBA) wants to sell 42 houses it owns to Bedford Development for $105,000. The development company plans to renovate them for $2.7 million.A City Council committee held off on voting to approve the sale, after Waters held a news conference pushing against the sale and the DLBA's actions.What they're saying: Waters says the DLBA is "favoring profit over people." It's moving forward with this sale while not giving the...

- Average sale to list ratio: 0.96 - Median list price: $148,900 - Median sale price: $160,000 - Total homes sold: 1,174

DETROIT — The Wayne County Treasurer’s office is pushing an effort to help Wanye County residents stay in their homes. Homeowners are urged to engage the county’s treasurer’s office to seek assistance that will help them avoid foreclosure ahead of a looming deadline. Property owners have...

Each year, Midwest Real Estate News inducts a new class into its Commercial Real Estate Hall of Fame. Here is a look at the busy career of one of our new members, Susan Harvey, senior vice president with the Detroit office of Ashley Capital. Susan Harvey recently reached an impressive...

Mike Lemon with Detroit’s District Capital closed a 10-year, fixed-rate loan with a life insurance copany for the refinance of a mixed-use building featuring multifamily residences. The interest rate was located at the time of application and held for more than 90 days. This saved the owner money, as...

The proposed sale of several dozen land bank-owned homes was put on hold Thursday amid concerns from council members that occupants weren’t given a fair chance to buy the properties before they were offered to a development company. The decision comes a day after Council Member Mary Waters called...

DEARBORN — Dearborn Realtor Sam Baydoun was inducted into the Century 21 Dick Loughlin International Hall of Fame recently. Baydoun — also a Wayne County commissioner representing Dearborn and Allen Park — was recognized because of his dedication the advancement of real estate professionals and commitment to giving back, a Century 21 press release said. He was honored at the recent One21 Experience, the company’s global networking and learning event.

The partnership of Oxford Capital Group, Hunter Pasteur, and The Forbes Co. has announced the topping off of the multifamily housing project Perennial Corktown in Detroit. The community will begin pre-leasing apartment units in spring 2023. The project, located at 1611 Michigan Ave., includes the seven-story apartment complex, seven townhomes,...

Friedman Real Estate recently completed a long-term lease for a 4,900-square-foot office space relocation and expansion located at 26777 Central Park Blvd. in Southfield, Michigan. Hazen and Sawyer, DPC helps clients address water quality and supply challenges with solutions tailored to deliver lasting benefits to the communities they serve. Friedman...

Bedrock is ready to unveil a new chapter of the Book Tower building, as the downtown Detroit property’s seven-year, $300-million-plus historic restoration approaches completion. Bedrock has crafted 500,000 square feet and 38 floors into 229 residential units, 117 ROOST Apartment Hotel accommodations and 52,000 square feet of retail and...

A largely vacant area south of Little Caesars Arena is planned to hold a hotel and retail building as part of the new vision for District Detroit developments. (BridgeDetroit photo by Quinn Banks) Who stands to benefit from another phase of downtown development pitched for District Detroit?. The $1.5 billion...

In the great state of Michigan, two cities stand out as major players in the real estate market: Grand Rapids and Detroit. Each city offers its own unique advantages and disadvantages for those looking to invest in property or relocate. As we examine these two cities through the lens of real estate, we see a complex web of factors that can make one location more attractive than the other.

DETROIT, MI. - You might be right if you feel like the walls are closing in on you. New data shows apartments are getting smaller across the country, marking a significant shift from the early work-from-home era when rentals were larger.