Rental properties in Detroit at 50% below market value

This is one of the best time to speculate in properties in Detroit. Mayfair Group provides true income-producing properties in Detroit and the cost quoted by the crowd includes the miscellaneous expenses which include the legal costs, refurbishment cost, title insurance, project management cost, brokerage, first year property taxes and building and liability insurance cost.

Detroit stands at No .1 in Michigan in housing market

According to the 2010 Housing Predictor forecasts, in Michigan Detroit stands at No. 1 position with an annual forecast of increase in average price by 21.5% in 2010.

Detroit-based auto industries show profits

Detroit is known for the 3 world’s largest motor companies.GM Motors recovered from losses of 2008-2009 and it held the No. 1 ranking position in Q1 2010.

Ford posted $2.1 billion Q1 2010 profits, that is 34% greater than 2009.

Chrysler posted 24.8% Q1 2010 profits, that is 1.9% greater than 2009.

Shortage of 30,000 rental homes in Metro Detroit

Over 9,000 tenants from Section 8 are looking for quality homes on rent and 9,176 families are registered to HUD housing choice waiting list. New job opportunities inside the city will attract new employees to town, which can further raise the demands for homes on rent. Spotty credit rating of many local buyers weakens their eligibility to get these low priced homes.

New employment opportunities in Detroit

New hiring in GM Motors

GM Motors announced to have fresh hiring in Detroit-Hamtramck plant. General Motor’s Chairman and Chief Executive, Ed Whitacre Jr. announced on April 21, 2010 that the corporate will invest $257 million within the plant in Detroit-Hamtramck and Kansas to fabricate a better generation Chevrolet Malibu.

Detroit Medical Centre investing to create new jobs in IT and health sector