Foreclosures aid Ann Arbor residential infill construction

Developers are finding innovative ways to make the foreclosure crisis work for them in Ann Arbor.Excerpt:Low lot prices caused by foreclosures are making Ann Arbor-area infill home construction easier economically. Building activity within existing neighborhoods – including teardowns and new construction – has continued relatively steadily through the housing slump, local builders said, thanks in part to the availability of cheap land through foreclosures.Tom Fitzsimmons of Huron Contracting has specialized in infill since his company began in 1991, and said lower prices on land have allowed him to sell his homes at the lower rates demanded by the market.”It allows us to continue doing what we’ve been doing,” Fitzsimmons said.Read the rest of the story here and how building small houses may be the next big trend here.