This last winter with its polar vortexes forced real-estate companies like Liberty Title to go into hibernation for a few months to deal with what became a literally frozen real-estate market. Things were so slow during December, January, and February that it was almost like the company took the quarter off.
"We had a big hole in the first quarter to dig out of," says Tom Richardson, general counsel of
Liberty Title.
That hasn't stopped the Ann Arbor-based company from realizing some solid gains this year. It helps that the local real-estate market has heated up and property values have risen with it. Richardson points out that houses that sold for $60,000 a year or two ago are not selling for $100,000, and he sees price gains continuing.
"I don't see any slowdown," Richardson says. "Interest rates seem like they will stay flat in 2015 and the economy in southeast Michigan is strong."
That has allowed Liberty Title to consolidate some gains across Metro Detroit and add staff. The company has moved its Brighton office into a new building near the heart of the city's downtown. It has hired six people, expanding its staff to 98 employees. Those new hires include new office managers in Birmingham and Novi.
"We picked up some highly experienced people," Richardson says.
Source: Tom Richardson, general counsel of Liberty Title
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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