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IN THE NEWS
Detroit Named
'Turnaround Town'
with Days-on-Market
Among Lowest in
Nation
MICHAELLINDSAY
Michael Group Realty LLC
mike@mikelindsaygroup.com
248-346-6322 cell
313-533-5819 office
313-533-1765 fax
mikelindsaygroup.com
Independent Company Achieving
Franchise Results
SERVING:
Wayne, Oakland, Macomb,
Washtenaw Counties
14 Years experience in
real estate/REO
SERVICE PROVIDED:
24-48 Hour Turn Around, Property
Inspections, Occupancy Verification,
Relocation Coordination, Eviction,
Re-Key, Utility Transfer, Preservation
Support, Property Listing, Showings,
and Updates
OPEN DOOR INSTITUTE, NAREB
Although California markets dominated
Realtor.com's Q2 list of Turnaround Towns,
claiming the top four spots on the list and six
of the top 10, Detroit's presence on the list is
"most noteworthy," according to Realtor.com.
"Though the city recently filed for bankruptcy, the market nonetheless posted strong
improvement in the second quarter," Realtor.
com noted.
In fact, Detroit may soon be "one of the
most balanced markets in the nation," added
Steve Berkowitz, CEO of Move, Inc., which
operates the Realtor.com website.
The site's top 10 Turnaround Towns are
determined by an algorithm that relies on data
such as inventory levels, median list prices,
homes' median number of days on the market,
and search and listing activity on Realtor.com.
Detroit claimed the No. 7 spot on the list
after its inventory age fell to the second-lowest in the nation at 45 days-on-market. The
city's median list price increased 37.8 percent
from the second quarter of last year, and its
inventory declined 26.5 percent.
The No. 1 spot went to Oakland, California, where the median number of days a
home spends on the market is just 15—the
lowest in the nation. The remainder of the
rankings included Orange County, California, at No. 2; Santa Barbara-Santa MariaLompoc, California; San Jose, California;
Seattle, Washington; Los Angeles; Portland,
Oregon; San Diego, California; and Reno,
Nevada, as the No. 10 Turnaround Town.
GMAC to Pay $230M
in Foreclosure
Settlement Deal
The Federal Reserve Board announced
a settlement with GMAC Mortgage that
will end the complex and costly foreclosure
reviews required through prior enforcement
actions.
GMAC will pay about $230 million in
cash payments to mortgage borrowers as part
of the foreclosure deal.
GMAC joins 13 other servicers who
reached their own settlements with the Fed
"Putting my
clients first."
LisaBenfield.com
Integrity «
In-depth community and «
market knowledge
Marketing savvy «
Effective negotiation skills «
High-quality professional network «
Your helping hand in Michigan.
Full service, to limited service.
Licensed and insured contractors
available for any repairs, re-keys
trash outs, You name it.
14 years in exclusive REO
Hour Magazines "Top 100 Realtors
2012," and "Top 5% in sales 2013"
Serving Oakland, Macomb, Genesee,
and Livingston Counties
Lisa Benfield
Assoc. Broker/Owner
4614 Elizabeth Lake Road, Waterford, MI 48328
reoprincess@gmail.com
248.343.5685 cell • 248-683-0050 office
248.683.0052 fax • www.lisabenfield.com
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