Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Michigan > Detroit
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-11-2010, 07:29 AM
 
38 posts, read 110,980 times
Reputation: 18

Advertisements

I'm overseas looking at housing areas stateside where I might settle.

Detroit's seen tough times, but people in this forum say it can still be a nice place depending on where you live.

Kiplinger had a feature today on homes under $100K and included Detroit. This one sounds too good to be true, so I'm wondering what's the catch?

Here's the link:

Homes for Under $100K - Yahoo! Real Estate
Reply With Quote Quick reply to this message

 
Old 11-11-2010, 07:39 AM
 
4,861 posts, read 9,310,229 times
Reputation: 7762
Wow, what a beautiful house!

I'm not from Detroit, but I see that that house is in the Jefferson Chalmers neighborhood which came up on the news earlier this week because it was ranked the safest neighborhood in Detroit:

Website Says Jefferson-Chalmers Neighborhood Detroit's Safest (http://www.myfoxdetroit.com/dpp/news/local/website-says-jefferson-chalmers-neighborhood-safest-20101108-wpms - broken link)

I'm not sure how accurate that is, I wouldn't know, the area looks nice to me just driving through, but apparently if you read down through the article some aren't convinced. Still, if it really is safe, then how could anyone go wrong buying that house at that price? Wow!
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 07:47 AM
 
Location: Macao
16,259 posts, read 43,195,107 times
Reputation: 10258
...and at least this poster is looking in the 100K range

Many people from the West Coast or internationally, just see the 10K or less houses from some article, and inquire about them!
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 08:06 AM
 
Location: Shakedown Street
1,452 posts, read 2,992,683 times
Reputation: 1199
As long as you don't have kids, I think Detroit is a good place to look into if it is in a safer area. You would need to look into private schools if you do. Detroit schools are not rated very good to put it nicely.

Those older houses are gorgeous inside too, I used to have a girl friend whose parents lived in Palmer Park. That looks just similar to their old house.

You also have to be open to living in an area where you might be a minority.
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 08:07 AM
 
1,512 posts, read 1,822,487 times
Reputation: 584
Quote:
Originally Posted by mypost View Post
I'm overseas looking at housing areas stateside where I might settle.

Detroit's seen tough times, but people in this forum say it can still be a nice place depending on where you live.

Kiplinger had a feature today on homes under $100K and included Detroit. This one sounds too good to be true, so I'm wondering what's the catch?

Here's the link:

Homes for Under $100K - Yahoo! Real Estate
I don't think there has to be a catch. It's in Detroit. If the house was in W. Bloomfield, it would fetch hundreds of thousands but in WB, you can be certain that crime is far away and your neighbors will keep up their property.

In Detroit what's likely to happen is that 10 houses on your block might go up for sale over the next three years and all priced comparably. People who can only afford $90k homes are going to be moving in. If all you can afford is a $90k home, you're not going to be able to afford a new roof or driveway as those things need replacing, especially because you're maintaining a really large home.

Then, there's crime. There are different opinions in regard to how crime is generated. Do people put themselves in positions where they're likely to be a victim or do criminals go looking for opportunity? Detroit has shockingly high crime and few people wish to risk their life and property when it's unecessary.

That all being said, there are things happening in Detroit. Mayor Bing appears serious about making an impression. It'd be a long shot but I'd buy in Detroit right now. If you're not familiar with the area, I'd probably wait to see if Bing takes another term.
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 12:19 PM
 
530 posts, read 1,551,423 times
Reputation: 215
Somebody could get rich putting together a Detroit Specific REIT.
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 05:08 PM
 
Location: Arizona
419 posts, read 758,541 times
Reputation: 867
Here is a link from Detroit blog that pretty much describes the Jefferson Chalmers neighborhood. I believe the article was written back in February. http://www.detroitblog.org/?p=1337
Reply With Quote Quick reply to this message
 
Old 11-11-2010, 08:16 PM
 
Location: north of Windsor, ON
1,900 posts, read 5,906,480 times
Reputation: 657
Jefferson/Chalmers is an interesting case. They might be including Windmill Island and other areas right along the river, many of which are quite comfortable. However, you have to drive through hell to get to them unless you know where you're going. There's some canalfront and possibly some riverfront properties in the area, as well as some new construction of varying quality.
Reply With Quote Quick reply to this message
 
Old 11-12-2010, 06:44 AM
 
Location: Downtown Detroit
1,497 posts, read 3,490,917 times
Reputation: 930
There are two new businesses opening in the Jefferson-Chalmers district. One is a shoe store called Sneaker City, the other is video game franchise called Game Stop. This is a good sign as far the economic health of that neighborhood is concerned. Obviously, businesses like this would not be locating in that neighborhood if there was no market.

2 new businesses land in Jefferson-Chalmers commercial district
Reply With Quote Quick reply to this message
 
Old 11-12-2010, 07:37 PM
 
2,300 posts, read 6,183,871 times
Reputation: 1744
Here's the catch

Black Flight is the New Worry for Detroit - WSJ.com
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Michigan > Detroit
View detailed profiles of:

All times are GMT -6. The time now is 05:28 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top