Detroit, MI Foreclosures for Sale - Short Sale Real Estate

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6,911 Properties Found in Detroit, MI

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Detroit Metro and Neighborhood Information

Known as the Motor City, Detroit is the largest city in Michigan, located along the shores of the Detroit River. The city rose to fame as an automobile giant when Henry Ford built his first Model T automobile in 1904. William Durant, the Dodge brothers and Louis Chevrolet quickly followed, elevating Detroit to prominence as the nation's automobile capital. Although many of these factories have since relocated, Detroit still remains the hub for General Motors, one of the world's largest car makers.

Detroit is currently the 11th most populated city in the United States. It is also the home of the Detroit Tigers (MLB), Lions (NFL), Pistons (NBA) and Red Wings (NFL). But the city's soul is in its music, and the legacy of Motown has earned it the nickname Hitsville, USA. That nickname was assigned to Motown Records's first recording headquarters, a small average-looking house tucked away on a quiet street. The property was converted into the Motown Historical Museum and chronicles the record company's rise to fame for introducing the world to the sounds of Marvin Gaye, The Temptations, The Supremes and many more artists.

The unique Belle Isle Island is also a quick tourist draw, located off the north shore of Isle Royale near Belle Harbor. This sprawling isle of nearly 1,000 acres, houses a park, zoo, botanical garden and the oldest public aquarium. Its landscape was designed by Frederick Law Olmsted of Central Park fame. And with the only swimming beach in the city, Belle Isle is conveniently located near the Detroit Metro but feels more like a world away.

Despite the past growth, Detroit's declining economy has taken a toll on local real estate. The city's housing market has seen a decrease in median home prices of condominiums and single-family homes. But despite the slow housing market, Detroit is still an affordable place to live with the regional cost of living hovering just 10 percent above the national average, according to the Association for Community Researchers.

With increasing demand for waterfront properties, the Detroit River has boosted the Harbortown/River Place neighborhood into prime real estate. This area was named 20th in Forbes.com's list of zip codes with the greatest appreciation.

For a more suburban and eclectic feel, Royal Oak, with its antique past and tree-shaded cul-de-sacs, offers both respite and proximity to the metropolitan area. Royal Oak bungalows, condominiums and family homes can be found in an abundance of styles ranging from Colonial to Craftsman. This thriving neighborhood has small-town charm and offers an array of affordable homes ranging from $110,000 to more than $500,000. Royal Oak condominiums are also available, priced from the mid-$100,000s to more than $300,000.

North Rosedale Park in northwest Detroit offers a more historic view with more than 1,500 homes built in the 1920s and 1930s and reflecting vintage-inspired architectural styles. Classic features like fine-grain hardwood floors and wet plaster walls make these North Rosedale Park homes truly unique. Boasting the city's only private park and Community House, expect to pay an average $250,000 for these architectural gems. Take advantage of the city's burgeoning revival and affordable rates and start your Detroit home search today!

Sources and more information:
http://en.wikipedia.org/wiki/Detroit
http://en.wikipedia.org/wiki/Hitsville_U.S.A.
http://en.wikipedia.org/wiki/Belle_Isle_%28Michigan%29
http://www.detnews.com/apps/pbcs.dll/article?AID=/20060117/BIZ03/601170367
http://www.homeinsight.com/home-value/mi/detroit.asp
http://www.forbes.com/realestate/2006/03/09/home-price-appreciation-cx_sc_0310home_ls.html
http://www.degc.org/main.cfm?location=23
http://www1.move.com/Cities/Neighborhoods.asp?gate=realtor&poe=realtor

Community Information for 48236

Population: 30,359

Median Age: 44

Median Household Income: $95,144

Households with Children: 40.52%

Median Travel Time to Work: 25 minutes

Real Estate Market Information

Median years in residence: 8

Homes Owned: 92.28%

Homes Rented: 5.43%

Homes Vacant: 2.29%

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About HomeFinder.com: HomeFinder.com is a real estate search engine built to assist you in searching for the best Detroit homes for sale. Our database of over 3 million listings nationwide and detailed property trends help you make sense of Detroit home buying trends. You can view different homes for sale in Detroit by price, number of bedrooms and bathrooms, and even more advanced search criteria such as swimming pools and golf courses. You can also modify your search by property type including Detroit condos and Detroit foreclosures. Our vast hometown newspaper affiliates to give you the most Detroit open houses, updated daily, the largest number of open house listings available on Thursday, Friday and Saturday.

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Detroit, MI Community Information

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