detroit real estate: Yes Detroit home prices are still low
- 01/19/15 07:53 PM
I had another Active Rain member call me about a client in another state that she wanted to refer to me. He had bought some properties in the City of Detroit. Detroit is still one of the worst cities in Michigan to buy in. Simply because of the high crime rate, minimal city services, below average schools, and high insurance rates. The only attraction is the low home prices. But why buy a home in an city that the police and EMS response times are long.
Unfortunately the Detroit housing market is different than the rest of the Metro Detroit … (2 comments)
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detroit real estate: Metro Detroit real estate and investors - MREI
- 01/12/13 08:27 AM
Coming up this week Michigan real estate investors club (MREI) is having another great meeting. Below is all the information about the upcoming meeting. For anybody that is a Metro Detroit area landlord, flipper, or real estate investor I recommend you joining this club. It is a great way.
Main Meeting: Investing in Real Estate with Lease Options:
Powerful Strategies for Getting More When You Sell, and Paying Less When You Buy
Doors open at 5:00pm, meeting from 6:00pm - 9:00pmOne Day Workshop: Saturday, January 19, 2013
How to Put $5,000 - $10,000 in Your Bank Account in the Next 30 Days.
In depth … (0 comments)
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detroit real estate: Hidden Cost of Buying a Home
- 08/06/12 12:03 AM
Hidden Cost of Buying a Home When you buy a home you may have hidden costs. The video talks about the roof, shingles and what to look for. If you are thinking of buying a home in the Metro Detroit area give me a call on my cell (313) 310-9855.
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detroit real estate: Buying Metro Detroit Foreclosures
- 08/01/12 04:25 AM
Buying Metro Detroit Foreclosures
This video gives you tips and information about Buying Metro Detroit Foreclosure and what you should look at when you are buying a foreclosure home. If you are thinking of Buying Metro Detroit Foreclosures give me a call on my cell (313) 310-9855.
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detroit real estate: Detroit Metro Home Buyers Tips
- 08/01/12 02:47 AM
Detroit Metro Home Buyers Tips The time you buy your home there are things you need to look at. Here is a video on tips and information about roofs, what to look for and if it needs replaced. This will help you when buying a Detroit Metro Home. If you are thinking of buying a Detroit Metro Home give me a call on my cell (313) 310-9855.
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detroit real estate: Buying a Detroit Metro House on a Busy Street
- 08/01/12 12:28 AM
Buying a Detroit Metro House on a Busy Street When buying a Metro Detroit house on a busy street you many run into a problem if there are kids involved. It would be harder to sell. This video gives you tips on what to expect when selling your house when you have kids on a busy street. If you are thinking of buying a Detroit Metro Home give me a call on my cell (313) 310-9855.
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detroit real estate: Buying Metro Detroit Hud Home
- 07/30/12 04:13 AM
Buying Metro Detroit Hud Home A Metro Detroit Hud Home is an FHA foreclosure home. In this video it gives you information and tips If this is your first time buying a Detroit Hud Home and what to expect which also includes the benefits when buying a foreclosure. If you are thinking of buying a Metro Detroit Home give me a call on my cell on (313) 310-9855.
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detroit real estate: First time home buyer tips - scared to take the first steps
- 06/19/12 03:42 AM
It is easy to be scared to take the first steps when you are a first time home buyer. To a new inexperienced buyer the whole process can be overwhelming. Don't be scared!!! It is not hard to buy a home. That is what we are here for. To help guide you through the process, handle the problems, and get you the home of your dreams. Don't be afraid to ask questions. There are several stages to go through. Planning stage - thinking of what type of home and where you want to live. Write it down. Getting a mortgage … (2 comments)
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detroit real estate: Detroit MI real estate update
- 01/04/11 08:31 AM
2010 was a banner year for the City of Detroit real estate market as the average home sales price did go up. In 2009 the average sales price was only $11,318.00 and this past year it moved up to $14,431.00. Which is a little better. Gone are the absolute steals of homes under $7,000. Now you would have to pay closer to $10,000 to get a nice home.
Of course the theives are still stealing the copper, furnaces, and hot water tanks out of vacant homes so you most likely would have to replace them.
Even the average days on the market … (3 comments)
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detroit real estate: Devil's night fires in Detroit
- 11/02/10 08:11 AM
It isn't any wonder that Devil's night fires in Detroit are up 42%. This year they had 169 fires over 119 fires in 2009. Detroit has about 35-40 fires on a normal day. There has been an increase in Devils's nights fires in the last two years, but it way down from the high of 800 fires in 1984.
The Detroit fire chief says it is because there are so many abandoned homes. I would probably agree with that. There was an estimate this year that there are over 10,000 vacant/abandoned homes in Detroit. With the average home sales price last … (3 comments)
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detroit real estate: Buying Detroit homes - buyer beware
- 03/22/10 03:36 PM
If you are buying Detroit homes as an investor, it is buyer beware. The home may have all of these items when you buy it, but you have a good chance of losing them if the house stays vacant. There are so many Detroit homes that have been stripped of copper plumbing, electrical wiring, furnaces, water heaters, kitchen cabinets, and light fixtures.
How often do Detroit homes get stripped? All the time. I would say 90% of Detroit homes get something stolen out of them. So if you are planning to buy a Detroit investment property plan on dealing with this.s
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detroit real estate: Investing in Detroit real estate isn't for beginners. Part III
- 12/21/09 02:13 PM
Kevin was right when he wrote "Once fixed up, the houses are usually eligible for the U.S. Department of Housing and Urban Development's Section 8 voucher program, which subsidies rent for struggling families." BUT there are only so many vouchers. Only so many people that get them. So every landlord is going after the same potential pool of renters.
Back in 2000 only 54.9% of Detroit homes were owner occupied. I can tell you that has dramatically changed in the last 9 years. Much of Detroit is owned by real estate investors. Back in 2000 26% of the population is below … (0 comments)
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detroit real estate: I have become a farmer
- 05/25/09 02:55 PM
Usually every year we put lots of flats of annual flowers around our yard. Begonias, impatiens, Gerber daisies, and all sorts of geraniums. Many time we spend over well over $300 on flowers. With this economy I told my wife that we weren't going to do that this year. We are planting veggies.
I'm having a great year with helping lots of Metro Detroit first time home buyers find great bargain homes. But.....Detroit's economy is very rocky right now with GM and Chrysler on the bankruptcy time table. So many auto workers, construction workers, and suppliers are on the ropes. … (4 comments)
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detroit real estate: Southeastern Michigan real estate
- 01/16/09 12:15 PM
Do I think Metro Detroit home prices have bottomed out? No I don't. I think there will be a continuation of foreclosures that will be hitting the Detroit real estate market. I don't see that slowing down in the near future at all.
What I am seeing is that many of the home buyers are people either moving in from out of state, investors, or first time home buyers.
So what do I suggest you to do? Do you sit on the sidelines and wait for the bottom or the lowest prices? Well first of all .... how will you know the … (1 comments)
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detroit real estate: Detroit Michigan real estate
- 12/08/08 12:44 PM
I am here in Detroit, I am a Michigan Realtor and I am surviving in the real estate industry! Another blogger today said she would not know what to do if she was in Detroit. Our real estate market is very tough but homes are selling and being bought. There were over 2000 foreclosures in the city of Detroit itself. There are homes that have been for sale for over a year. But many homes are being bought and sold.
Sure Detroit homes and Detroit Real Estate have lost 30 to 50% of their value. That directly correlates to our paychecks being 30 … (4 comments)
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detroit real estate: What is going on around the country?
- 12/26/07 07:15 AM
The Metro Detroit area including the suburbs has been hit hard by the slump. I would estimate that the average home has fallen 30 -35% off their high prices several years ago. I was listening to CNN a week ago and one economist was saying that it would take up to 10 years for the prices to rebound. He said he had lived thru the Texas Savings and Loan Scandal, and that is what it took to come back. What are the markets like in your area?
I myself am not giving up on the business. Homes are still being sold just … (4 comments)
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detroit real estate: What is going on around the country?
- 12/26/07 07:15 AM
The Metro Detroit area including the suburbs has been hit hard by the slump. I would estimate that the average home has fallen 30 -35% off their high prices several years ago. I was listening to CNN a week ago and one economist was saying that it would take up to 10 years for the prices to rebound. He said he had lived to the Texas Savings and Loan Scandal and that is what it took to come back. What are the markets like in your area?
I myself am not giving up on the business. Homes are still being sold just … (2 comments)
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