Michigan Foreclosure Listings

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Michigan Foreclosures for Sale

Michigan is located in the upper Midwestern region of North America and is divided by two distinct areas known as the Upper Peninsula and the Lower Peninsula. These contrasting areas are characterized due to their differing geographical qualities, with the upper region consisting largely of forests and landscapes, while the lower contains the majority of the state's major cities and industrial sector. These major cities include Lansing, which is the state's capital, Detroit, which is Michigan's largest city, along with Sterling Heights, Warren, Ann Harbor and Grand Rapids.

The demographics of Detroit leans toward three distinguishable types of people within the city, which include low-income singles that generally are situated in the metropolitan areas, single parents raising children, who generally carry a college degree or higher, and elderly citizens who often purchase condos or apartments.

Detroit serves as one of Michigan's major automotive production centers, with three of the major car companies including General Motors, Ford and Chrysler all hosting their main headquarters in Detroit. The manufacturing industry, overall, contributes a strong amount towards the state's economy, also making other transport equipment and accessories for car, trucks, planes, buses and boats. Michigan's industry branches out into numerous sectors, which results in much of the industries huge success. Michigan is also well known as a key manufacturer of sporting equipment, which is exported nationwide, providing for all types of sports. The state's mining company garners the majority of its profits from the production of petroleum, natural gas and iron ore. It is also being home to one of the biggest limestone quarries in the world. The agricultural sector generates a great amount of revenue from the production of livestock and crops, with dairy products being the most important on the market. Other areas that are maintained include the production of chicken eggs, hogs and turkeys, along with crops such as nursery and greenhouse plants, as well as an abundance of fruit and vegetables.

The housing market in Detroit and other major cities has recently begun to yield positive results, making Michigan foreclosures all the more appealing. The rate of households being sold is on the rise, sitting on a near 33 percent increase as compared to last year. Average listing prices currently start at around $103,000 and Michigan home foreclosures also sit within that range. Fortunately, such trends are expected to continue.