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More Good News For Metro Detroit Property Investors
June 22, 2010 by admin (online) · Leave a Comment
The real estate market in the metropolitan Detroit area is the worst in the nation!
According to a report from California-based data company Clear Capital, Detroit was the worst-performing metro with a 10.7 percent decline from last quarter and 19.6 percent rise in prices from last year. Nearly 50 percent of the sales were homes taken back by lenders.
What does all of this mean for investors? It means that there are plenty of deals to be had here in metro Detroit.
Use the “bad” economy to your advantage when negotiating with the seller. It is a numbers game. Always be tight with your money, throw nickels around like their manhole covers! The next deal is always one contact away.
