Excerpt from Housing Market Blues written by Jack Milligan.
Published in Mortgage Banking on October 1, 2009.
...Reginald Perryman, president of the Detroit Association of Realtors
and owner of Ritz Realty in Oak Park, Michigan, says there appears to
have been a slight increase in sales activity of late, with low home
prices bringing some buyers back into the market. Foreclosed homes
generally sell within a few days, and Perryman says he's seeing
investors from outside the region snapping up residential properties.