Author: jaybuysdetroit

What do you wish you knew before house-hunting in Detroit?

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By Robin Runyan at Curbed Detroit To say that the real estate market in Detroit is complicated is a vast understatement. Like the city itself, there are layers upon layers of complexities that might not be so obvious to the average home-buyer. Detroit has a very low percentage of homes bought with mortgages. although that … Continued

Home prices on the rise in Metro Detroit

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By: Annalise Frank at Crains Detroit Some real estate market watchers are looking for clues on the next downturn and some are celebrating as home prices continue to rise on shrinking inventory in metro Detroit. July sales of homes and condominiums in the region are up 6.8 percent over the same month last year, according … Continued

Land Contracts

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Why lease a home monthly, When you can lease to own? Land Contracts are similar to a mortgage. Rather than paying the bank or lender like you’d normally do with a mortgage; you pay the homeowner. Land Contracts allow you to pay on a home monthly. The difference is you are paying to own the … Continued

Foreclosure notice of default in Michigan– what is it?

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If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading. Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure. The foreclosure notice of default must be sent to anyone who has … Continued

Foreclosures

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Most first time homeowners usually acquire mortgages without the knowledge of what occurs when they mortgage goes unpaid. With rent prices increasing each year, a mortgage can be cheaper than rent on a monthly basis. But just like rent, your mortgage is meant to be taken care of and neglecting it can result in a … Continued

Want to Make an easy $300?

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  Do you want to make some quick cash? Do you know someone selling a home? Well look no further.  Refer them to JayBuysDetroit and you’ll receive $300 at closing!

Consultant selected for Warrendale-Cody Rouge neighborhood framework

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by Kurt Nagl at Crain’s Detroit The city of Detroit selected Hector Design to develop what it considers a first-of-its-kind framework for making the Warrendale-Cody Rouge neighborhood more kid-friendly, the city said Thursday. The New Jersey-based consultant was hired as part of the city’s bid to improve mobility, housing, education, health and public safety in … Continued

What is a Pre-Foreclosure in Detroit?

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With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process. So what is a pre-foreclosure in Detroit anyway? Many homeowners across America and Detroit are facing difficulties making their monthly mortgage payments. When a homeowner misses 3-6 months of mortgage payments, the lending institution will … Continued

The Detroit Dream

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  Imagine a place where families felt safe to live, a place where children would ride their bicycles down the street and play with their neighborhood friends. Let’s think back to a time when kids could walk to school and their parents wouldn’t have to worry about them returning safely. Let’s recall a time when … Continued

7 Signs It’s Time To Buy A House in Detroit

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There are many things that can make people take the leap from renter to owner. As any investor will tell you, the benefits of owning the place you live in outweigh any additional costs you might incur. In some instances, buying a house is actually cheaper than renting! In our latest post, we discuss some … Continued

Tips on Buying Real Estate with your IRA in Detroit – Jay Buys Detroit

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While most people understand that real estate is an investment, many people are taking advantage of the qualified retirement accounts to purchase real estate as an appreciating or revenue-generating instrument like IRAs. It’s really important to understand the tax implications, legal ramifications, and various other intricacies of purchasing Detroit real estate within your IRA. So, let’s dive into … Continued

How to Avoid Foreclosure in Detroit

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While the housing market is rebounding, many people in Detroit] are still struggling to make their mortgage payments. If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Thankfully, there are a number of things that you can do … Continued