Should Detroit Legalize Marijuana?
Recently Michigan became one of the 11 states that allow the growing and sale of marijuana for medical use. And recently many people are urging that part of Detroit’s abandoned real estate be turned into productive cropland. There is no more productive crop per acre than marijuana. Let’s take some of Detroit’s 70 square miles of unused land and grow a crop that will dramatically boost the economy. Before you dismiss that as wild and fanciful, consider California. California is the number one state for the production of agricultural products and marijuana is now their most profitable crop. Agriculture ...
Foreclosures rock some near-by Detroit suburbs Hard
While Detroit is known nationally for its high foreclosure rate, the problem is worse in three suburbs. 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. "The industrial base of Detroit is supported by the areas around it, so therefore it is not just Detroit that is suffering," said Marshall Mandell, a foreclosure specialist for Re/Max Classic in Farmington Hills. Among metro area ZIP codes, Detroit's 48205 had the highest foreclosure rate, at one out of every 5.2 households, according to data compiled by RealtyTrac ...
Detroit area’s home prices stay below 2000 levels
Home prices in the metro area are 28% below what they were in 2000, according to the S&P/Case-Shiller Home Price Indices. The two markets that have held up the best since the housing crisis began? Washington, D.C., and New York. These markets are still 70% above their January 2000 levels. read more here ..
90% of Last Year’s Distressed Commercial Real Estate Still Unresolved
According to data released this week by Real Capital Analytics (RCA), $36.9 billion dollars worth of last year’s distressed commercial real estate is still in an unresolved status or being held by the lender. These numbers do not include new commercial real estate that could be considered distressed, but only commercial properties “for which sufficient time has passed for lenders and borrowers to facilitate workouts,” said RCA. These “seasoned distressed” properties are mostly being held due to distressed commercial real estate loans, and they are held by commercial mortgage backed securities (CMBS) trusts and domestic lenders for the most part. Since ...
Facing Foreclosure? Don’t Leave. Squat!
In an interview earlier this year, Ohio Rep. Marcy Kaptur told Americans: 'Be squatters in your own homes. Don't you leave.' Marcy Kaptur of Ohio is the longest-serving Democratic congresswoman in U.S. history. Her district, stretching along the shore of Lake Erie from west of Cleveland to Toledo, faces an epidemic of home foreclosures and 11.5 percent unemployment. That heartland region, the Rust Belt, had its heart torn out by the North American Free Trade Agreement, with shuttered factories and struggling family farms. Kaptur led the fight in Congress against NAFTA. Now, she is recommending a radical foreclosure solution from the ...
Detroit’s Future Landscape
There’s a lot of talk about the reshaping of the city of Detroit. Mayor Bing has mentioned several times the city needs to be shrunk and so have many other community leaders and experts. Urban farms are all the buzz and starting to take shape. There’s some serious talk going on about copying Flint, Michigan’s land bank concept to expedite the re-landscaping of the city. What will the city of Detroit look like in the future? There will be a strong vibrant downtown core surrounded by 5-7 “pod” areas with a inter-dispersion of urban ...
Detroit homes sell for $1
Detroit has been in decline for decades; its falling population is now well below a million – half of its 1950 peak. But the recent mortgage crisis and the fall of the big car makers into bankruptcy has pushed the town into a realm unique among big cities in America. One in five houses left empty as foreclosures mount and property prices drop by 80% Houses on sale for a few dollars are something of an urban legend in some parts of the US on the back of the mortgage crisis that drove millions of people from their homes, but in Detroit ...
Everyone Is Not Happy About Your Success…Three Reasons Why
We all seek SUCCESS whether openly or secretly. But there is one thing most of us are not ready for when it comes. THE BACKLASH! When you finally get the job you’ve trained for, the house you dreamed of, and/or the relationship you attracted…You Can Bet That Everyone Will Not Be Happy For You. Some will hate you and speak evil of you, others will even go so far as to praise you one week... [Read more about this property]
Everyone Is Not Happy About Your Success…Three Reasons Why
We all seek SUCCESS whether openly or secretly. But there is one thing most of us are not ready for when it comes. THE BACKLASH! When you finally get the job you’ve trained for, the house you dreamed of, and/or the relationship you attracted…You Can Bet That Everyone Will Not Be Happy For You. Some will hate you and speak evil of you, others will even go so far as to praise you one week... [Read more about this property]
Everyone Is Not Happy About Your Success…Three Reasons Why
We all seek SUCCESS whether openly or secretly. But there is one thing most of us are not ready for when it comes. THE BACKLASH! When you finally get the job you’ve trained for, the house you dreamed of, and/or the relationship you attracted…You Can Bet That Everyone Will Not Be Happy For You. Some will hate you and speak evil of you, others will even go so far as to praise you one week... [Read more about this property]
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About Me
Jay Little is a licensed real estate consultant who has been involved in the Metro Detroit real estate market area for over 20 years. He specializes in selling real estate in the north and northwest suburbs, and would love to meet you. Jay also owns a small credit repair company, which he established 3 years ago.
