A dark cloud over Detroit and a silver lining.

http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_052619.pdf

http://www.smartmoney.com/investing/economy/the-new-prospectors/

Detroit home values led the nation in March with a decline of nearly 5%, making the Detroit market the most depressed in the nation with values at 1995 levels. While it is difficult for owners of now dramatically devalued real estate to see any bright side to the story, for those fortunate enough to be able to invest in real estate, there may never be a better time than now.

See the Smart Money magazine article about investors flocking to Detroit to invest in area real estate. I represent some individuals and companies who are betting on Michigan and actively engaged in the market. I am quoted in the article and have seen first hand how smart decisions in a down market can yield impressive returns.

With every turn in the market, there are opportunities and this time is no different.

Foreclosure from the Bank's Perspective

http://freakonomics.blogs.nytimes.com/2009/05/01/power-question/

Foreclosure is an intensely personal event for most homeowners, but for the banks it just a business transaction. Article suggests things are likely to get a bit worse before they get better.