Ann Arbor and Detroit, MI: Two Michigan Real Estate Cherries
We can be honest here in the Mitten, the so-called Wolverine State: Michigan hasn’t had much of a good run in just about anything from employment to even education, and even more so the concept of a budding real estate market. Foreclosures, sluggish pricing and demand, plus a home building industry that’s slowly dying, it seems.
Thankfully, it seems that things will change (albeit a bit slowly, but at least consistently) so far this year of 2015/2016 as a most recent list of 20 hot real estate markets in the U.S. have welcomed two cities in Michigan as headliners for home sellers, home buyers, and home investors nationwide. Pay close attention, because these two Michigan cherries of the real estate market may make headlines very soon:
Check Out Ann Arbor, Michigan, Very Closely….
Why? Because this is a little, quaint town, the home of the University of Michigan, that’s starting to climb its way up the ladder of the national real estate market, probably largely due to the appeal of the properties there.
In other words: it’s beautiful there! This draws a decent crowd of buyers, offering that demand for sellers to dictate the prices, and the market duration isn’t too bad either. Flipping houses here ain’t that bad, for sure. If you want a look at some of the metrics for this real estate market, click right here. Ann Arbor might be a place to look at if you’re wanting to invest in real estate.
Detroit’s a Trendsetter as Well, Which Is Great News for Michigan
One thing’s for sure: Motor City’s been having it pretty bad, out of all the cities in Michigan (not nearly as bad as Flint, though, we’d say). But to see that good ol’ Detroit has put its stamp on the list of 20 hot real estate markets in the U.S. should say something about Michigan’s aggressiveness to up the quality of home selling and home buying.
Perhaps its a trend going on there in the Mitten (and the UP, of course), starting with the most prolific cities out there. We’re in a state of renewal for Michigan, and maybe it’s starting with Detroit — and you can find out just how well Detroit’s doing right here.
Michigan Holds Two Spots in the List of Hot Real Estate Markets
Not too shabby, we think. Although Texas and California currently hold more of the cards when it comes to the hot real estate markets. But maybe that may change in 2017, 2018, 2019 or more years from now. We might be looking at a Midwest state that’ll be the standard for real estate for many more years to come. Who knows.
Whatever the case, get your butts over to these two towns, because you might reap some very decent cash flow (if you’re selling or investing), or you just might find a decent house for your family (if you’re looking to relocate).