Palmer Woods? (Detroit, Royal Oak, Ferndale: for sale, renting, houses)

[oziahmic]

Hello, I read these forums all the time and this is the first time I am actually posting....

My husand and I are from the metro Detroit area, currently renting and are looking to purchase a home. We both really love the Palmer Woods area, so I am wondering if anyone on these forums actually lives there/used to live there/etc. and knows anything about the area. We are in love with the historical homes and neighborhood, and have been driving around there to see the houses that are for sale. I am not too worried about the surrounding areas because it isn't that far from Ferndale and Royal Oak for shopping purposes. The thing that I am really worried about are the taxes. Does anyone have any experience buying in this neighborhood and the tax abatement and/or successfully getting your taxes reassessed?

I appreciate all realistic (not Detroit bashing!) feedback. I would really like to purchase in the city of Detroit because I feel that it will never get any better if people don't invest in the city and would like to feel that I can in some way make a difference for the city's economy, but the taxes are scaring me into looking at Grosse Pointe(s) instead.....

[MidMichguy]

I don't have any experience, yet, but I'm moving to the Detroit area come spring, and the Palmer Woods area is near the top of my list, I've contacted a realtor to start looking at places and the NEZ abatement is one of the first issues I have to address, I'll let you know what they say, but if you're serious that's probably the first place to start. I know the Palmer Woods association site lists a couple realtors who live there, so they can probably answer your questions.

[canudigit]

I can't move to the Detroit area at this point because my hubby works out of Toledo and we own investment property there, but I just wanted to say that I applaud both of you for wanting to move back to Detroit and make it a better place. It's people like you who will ultimately be the key to turning this once proud and great city around. I, too, love the Palmer Woods neighborhood and would love to live there. Maybe someday...

[zthatzmanz28]

Looking at the Detroit site Palmer Woods is on page 2 of the NEZ list.

City Living Detroit | Detroit, MI (http://citylivingdetroit.com/05/housing.php?offset=0&type=S&cat_id=&msub - broken link)=


Contact info is given and a price range of $500K--$1 million.

Wonder if city council would be willing to go under $10K in taxes?

Also wonder if any prospective buyers have driven through PW?

It has been about a year since my wife and I did a drive through..

Boston Edison and Arden Park are also very similar to PW, and may be a better buy?

[MidMichguy]

Finance Assessment Division | City of Detroit | www.detroitmi.gov

Is the city's list of places that qualify for the NEZ, which seems to bring taxes more or less into line with other areas. If you look at the listings there's a few places that are available in Palmer Woods that are very reasonably priced, and few or none above the 400k mark (not that I'm spending near that much). The market is really depressed right now, and if you're able to pick up a place in an area that has historically been very affluent, and you believe the city will recover, and are able to sit tight for awhile, it's a good investment, plus you get the benefit of living a beautiful historic home that would cost a fortune elsewhere.

I'm just starting my search, and am making my first trip up this weekend to look at places (I'm relocating from Chicago for work). PW's on the list, as are the surrounding neighborhoods and area, and North Rosedale. I need to be within an easy commute of Metro, which is why I'm not looking at the Pointes or the areas closer to downtown.

[scolls]

What do you mean an easy commute of "metro"? Also know Detroit has a city income tax. They are also suppose to be building a mall at 8 and Woodward. Not sure how those plans are going

[MidMichguy]

Detroit Metro Airport, sorry, and I'm aware of the income tax, but the tax burden shouldn't be much worse than what I pay now with the 10.25% sales tax in Chicago, and the cost of living is much lower generally. I know this won't be the ridiculously cheap venture lots of people seem to think it is, but I've gotten to really like historic homes, I don't have to worry about job security, and it's a good time to buy. The PW area is a good compromise between the things I have to be by (airport and downtown) and there are several great historic neighborhoods in the area.

[scolls]

Palmer Woods should be good. The neighborhoods outside of Palmer Woods towards the university are actually not too bad. Going east though towards John R is pretty bad.

[oziahmic]

We went and drove through Palmer Woods, Palmer Park, Sherwood Forest, and Boston Edison over the last couple weekends. All were pretty nice but Palmer Woods looked like the most well kept and had the most neighborhood outdoor activity going on (granted it is wintertime!), so we are pretty sure that we like Palmer Woods the best. I will have to contact one of the realtors on their association website and ask about the tax situation too...thanks for all your input so far!

[PalmerWoodsFan]

Curious. Did you ultimately buy a home in palmer woods?