Which Detroit suburbs are in the BEST shape?

[hemmie]

Originally Posted by Wendy from GP

When I run a search in Trulia for forelcosures in 48236, the number is 13 (which comports with what our agent told us). Realty Trac lists something like 68 REO Homes Sales near 48236, and the first four listings were outside of 48236. I really think your advisor's numbers are wrong, but what do I know.

Wendy, I'm not sure why you seem obsessed with my financial advisor, but I'll bite. You're comparing apples to oranges using Trulia first (which in your earlier posts you derided as having outdated information) and then comparing with incomparable information from RealtyTrac.

I went to Foreclosures Real Estate Foreclosure Listings and Homes at RealtyTrac where he got his information. By zip code, 48236 is now showing 6175 (plus 68 REOs) foreclosures. 48009 (B'ham) shows 8022 (plus 97 REOs). Neither of these paints a picture of real estate health, which doesn't mean that they are not great places to live, just that they are suffering as real estate markets right now.

Just to clarify, my financial advisor was not recommending one area over the other - he was advising us to be cautious about buying at all at this time.

I'm not sure why you are taking my posts as such a challenge!

[Shrewsbury Road]

I know I've answered this before but I'll do it again because people should no almost all of them are. Auburn Hills, Rochester Hills, Shelby Township, Troy, Bloomfield Hills, Sterling Heights, Saint Clair Shores, Royal Oak, Ferndale, Oak Park, Birmingham, Beverly Hills, Bingham Farms, Southfield, Farmington Hills, Novi, Livonia, Canton, Westland, Dearborn, Dearborn Heights, The Grosse Pointes: Park, Farms, Woods, and Shores, and no I did not mention all of them. The ones I don't think are the best, not including the southern suburbs because I'm not as familiar, Madison Heights, Hazel Park, Warren, Roseville, and Eastpointe.

[Coldjensens]

FOreclosures only tell a tiny bit of the picutre. Some of the subrubs governments are broke. Others have rainy day funds that will hold them for a while. Some suburbs are doind ok now, but are seriously threatened int he future. A lot of suburbs will be in trouble when Chrysler closes. When GM files for Bankruptcy, others will be battered.

The suburbs that are in the best shape overall are probably the ones near Ann Arbor. Ann Arbor is less auto dependant and is not quite as hard hit as Detroit and the suburbs nearer Detroit. Some suburbs (Birmingham for example) simply have so much money that it will take a while for the decline to deplete the massive concentration of wealth in those areas.