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Old 07-31-2020, 06:45 AM
 
Location: Grosse Ile Michigan
28,402 posts, read 67,486,704 times
Reputation: 34246

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Quote:
Originally Posted by usroute10 View Post
I just gave you three examples of fairly affordable studios/1 bedroom apartments IN MIDTOWN and yet you continue to claim there are none. Let me repost them, $600-$800 a month



Great locations, not the 'hood. The Hamilton is less than a block away from the Whole Foods/Starbucks complex. Newberry Hall is across the street from the DMC's Harper Hospital. The H.R. Finn apartments is literally next door to a new Bar-Arcade. These are affordable places in the midst of Midtown.

More:

Mount Vernon Apartments - 1 bedroom, $674 @ Alexandrine and Third - 2 blocks from Avalon Bakery

Apartment Building @ Forest and Cass - 1 bedroom, $812 Around the corner from Cass Cafe

Phillips Manor @ Woodward and Palmer - 1 bd/$800, 2 bd/$1250 - 2 blocks from Museum District

459 Prentis near Cass and Forest - studio, $749 - down the block from the Bronx Bar

I SAW PLENTY OF 2 BEDROOM APARTMENTS FOR $1200-1500/month, so $600-$750 per occupant.




These are very legitimate points for a couple looking for a walkable suburb and your point does address the OP's question.

Have you actually tried to find a place and looked at places with availability, gotten the actual costs? If you do, you will be surprised I think. Actually finding an available affordable place is quite a lot different from looking up posts on the internet. Look at what you are actually looking at for the lower prices. Look at what is actually available. You need to go out into the world and see things for yourself. Talk to people who live in the places. The internet is misleading.

Then go to Ferndale and see what you can get for the same money. "What? Wow!"

Maybe things have changed in the past 18 months. it is possible.
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Old 08-04-2020, 10:37 AM
 
225 posts, read 314,880 times
Reputation: 322
OP here. Just want to thank everyone again for their responses. Unfortunately, the suggestions of Royal Oak and Ferndale are proving difficult because homes are selling within 24-48 hours there. If not, I'm getting outbid repeatedly. It's insane.

I'm starting to look more in Oak Park, but can anyone tell me if there is a bad/good area there (if so what are the boundaries)? How safe is Oak Park compared to Ferndale? Thanks in advance.
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Old 08-04-2020, 03:21 PM
 
Location: Grosse Ile Michigan
28,402 posts, read 67,486,704 times
Reputation: 34246
The housing market is very hot almost everywhere (except where I live).



My boss just sold his home in Washington township. Listed on a Friday. By Monday morning he had six offers all over asking. This is common all over the place.



Even here, houses seem to be selling in a few weeks rather than the normal 200 plus days. (For the right people, this is probably the best place in the world, literally. But it is not for everyone. It takes a different than typical type of person).
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Old 08-05-2020, 08:13 AM
 
Location: Central Mass
2,616 posts, read 2,897,960 times
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My niece just bought an ugly house in Westland for 100% list. Signed offer the day after it listed, closed 4 days after it was listed.
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Old 08-05-2020, 02:25 PM
 
2,564 posts, read 1,900,339 times
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The housing market is insane. I stepped out of the game because how crazy it is now. I wonder how much the current momentum & covid will change dynamic of metro Detroit.
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Old 08-10-2020, 09:51 AM
 
1,069 posts, read 1,210,233 times
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Housing market is insane for a few reasons right now. However, the past couple years really anything sub-$300k has been moving extremely fast.

1) The backlog of transactions and people that didn't look or purchase in March, April, May now trying to get it in this summer

2) A lot of people trying to get out of rentals/apartments

3) People spending more time at home trying to get into something that perceive to be better (e.g., need something with a home office, or a deck, or a finished basement)

4) Millennials now becoming first-time home buyers

5) Investors / people snatching up homes for rentals (the sub $300k homes)

There is a lot of boomer housing stock that is primed to hit the market in the next 5-10 years though. It will be interesting to see how that gets digested through the real estate market. The region's population continues to skew older each year.
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Old 08-11-2020, 11:36 AM
 
2,564 posts, read 1,900,339 times
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Quote:
Originally Posted by DTWflyer View Post
There is a lot of boomer housing stock that is primed to hit the market in the next 5-10 years though. It will be interesting to see how that gets digested through the real estate market. The region's population continues to skew older each year.
5 Years ago I was waiting for the boomer housing stock to hit the market in 5 years (so today) & convert it from seller market to buyer marker and that switch didn't happen. Even covid did not change the market from seller market. I wonder if in another 5 years, if boomers selling off will change the market. Maybe its not 5 years but closer to 10 year mark.


I expect to see lot of ranch house in older suburbs as first to flood the market with older boomer moving out/on. Current fad is inner ring small suburbs with their pre-war house or exburbs.
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Old 08-11-2020, 02:31 PM
 
1,069 posts, read 1,210,233 times
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Yeah, I think a few things are in play.

The smaller ranches and bungalows either get gobbled up by first-time home-buyers, investors and turned into rentals, flippers, or if in real desirable areas tear-down/rebuilds.

There is a lot of boomers still sitting in big homes that were built in the 90s/early 2000s that are going to hit the market when they decide to downsize. Some have been well-updated, some still look like 1995 inside and outside.
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Old 08-11-2020, 04:27 PM
 
Location: Michigan
59 posts, read 9,088 times
Reputation: 106
Quote:
Originally Posted by Bardot View Post
OP here. Sorry to bump, but does anyone have an opinion on the Ferndale/Royal Oak area vs Ypsilanti?
Hi, I live in Ypsilanti (township, not the city proper), and it’s not a place I would recommend to live unless you need to be close to Ann Arbor and can’t afford it (AA cost of living is very high compared to Ypsi). Yes there’s EMU which is largely a commuter school. The two commercial/shopping areas, downtown Ypsi and Depot Town, didn’t have much before COVID hit, and now there’s less. Most businesses are closed, except for a couple of restaurants/bars (not any good ones except maybe Sidetrack) and marijuana dispensaries. That’s all we have. There are some beautiful old Victorian homes yes, but the neighborhoods are hardly desirable, esp. on the east side of town and around willow run. There is a lot of crime. The township is a little better, but it’s mostly newer suburbs.
As others have stated it sounds like the Detroit area would be better find. Royal Oak or Ferndale but I have never lived over there myself. Good luck!
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