The fight against residential blight isn't over in Michigan. The state is about to get an injection of federal funding to continue its efforts to clean up the neighborhoods that were the hardest hit by the economic downturn.
Detroit’s housing market was one of the most severely attacked during the financial crisis, leaving a wasteland of foreclosed and abandoned homes. But a new ruling might help give the city the extra boost it needs.
“Today’s action sends a clear and simple message, that quid pro quo agreements for real estate referrals are illegal,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action to ensure that the mortgage market is a level playing field where everyone plays by the rules.”
Dan Gilbert, the founder and chairman of Quicken Loans, is still pushing to save the city of Detroit. He's invested millions in the revitalization of Detroit's downtown area and the results of his efforts are having a real impact on the recovery of the city and on Quickens Loans' business too.
What was viewed as a historically quiet tornado season, quickly took a turn for the worse, and we still have yet to clear the danger zone. Which leads us to the list of the top 7 cities for tornado risk.
The forecast is looking up for Michigan as industry leaders predict the best year for the state since 2008, with projected increases in new housing starts, rising home prices and a decline in foreclosures.
People are listening to real estate economists today in a way that anyone who covered the industry a decade or more ago would not recognize. Smoke is one of the members of this new wave of real estate economists. In fact, Smoke is actually the newest one on the block. The upstart economists at places like Trulia and Zillow are still new, Smoke is just the latest player to join the game..
Typically, for a process and a product that depends largely on human effort, if you want a higher quality product, you have to pay more. The best doctors, chefs, mechanics and attorneys all make more than the market average. Nevertheless, lenders, AMCs and Fannie Mae all expect appraisal quality to increase even as appraiser fees decrease. Read More