Fallout From Depressed Housing Market Brings Great Housing Opportunities to Metro Detroit Real Estate Entrepreneurs

(EMAILWIRE.COM, July 17, 2007 ) Detroit, Michigan -- “The Detroit Property Exchange auction of single family homes, multi-family apartment complexes, and free standing commercial business properties, promises to jump-start the Metro Detroit Area real estate market”, states Arthur W. Daniels Jr., (Art), a Real Estate Broker located in White Lake, Michigan. Referring to a Bloomberg article from March 7, 2007, Daniels noted that new home sales plunged 17 percent in 2006 compared with 2005, the biggest decline since 1990, according to the National Association of Home Builders, and existing home sales fell 8.4 percent in 2006 from a record in 2005, according to the National Association of Realtors. Further, per the same Bloomberg article, properties in some stage of foreclosure rose 35 percent in December 2006 to 109,652 compared with December 2005, according to RealtyTrac Inc., an Irvine, California-based online marketplace for foreclosure properties. “The lower-priced end of the housing market may feel the effect of the sub-prime lending problem more than the luxury end”, Robert Toll, chief executive officer of luxury builder Toll Brothers Inc., said at a Citigroup conference in New York on March 7, 2007. Donald Tomnitz, the chief executive officer of D.R. Horton, a major U. S. homebuilder, said in a separate presentation at the same Citigroup conference, that his company would miss its projections for closing this year, and that 2007 is going to suck, all 12 months of the calendar year.'' D.R. Horton's business is mainly focused on first-time homebuyers and second time homebuyers. The company sells houses starting at $90,000.“So”, says Daniels, “enough of the negative. At least I, myself, am very excited, and also very confident, that this July 21, 2007 Auction at the Hyatt Regency Dearborn will help to put the Metro Detroit Region into an economic up-tick, and give our depressed housing market a ‘shot in the arm’”.Daniels encourages all savvy real estate investors within 800 miles of Detroit, to participate in this Auction.For information pertaining to the specific properties, Daniels suggests you go to: www.FlipDetroitAuctions.com.For further information, contact: Art Daniels, 248-802-3116, or ArtDaniels38@Yahoo.Com.###This press release was issued through GroupWeb EmailWire.Com. For more information on press release distribution, go to http://www.emailwire.com.

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