Discuss Detroit Archives - January 2008 Midtown Housing Question Previous Next
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Jhartmich
Member
Username: Jhartmich

Post Number: 80
Registered: 04-2006
Posted on Wednesday, March 05, 2008 - 11:51 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Anyone know, in general, how much prices have fallen on condos/etc. in the past year or so (assuming they did fall)? Any examples of unit prices "before" and "now" prices?

My friend, who has contemplated moving here over the past few years, may once again start making some calls. I'm asking for him.

Thanks
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Hans57
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Username: Hans57

Post Number: 283
Registered: 05-2006
Posted on Wednesday, March 05, 2008 - 1:02 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I guy I know bought a place in Brush Park for 200,000 that was originally going for 385,000.

Really quite a tragedy considering that the developer is now virtually without home. The bank foreclosed on the house, and they wanted to rid themselves of the burden quick, hence the halving of the price.

One man's misfortune is another man's gain.
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Wordonthestreet
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Username: Wordonthestreet

Post Number: 161
Registered: 11-2003
Posted on Wednesday, March 05, 2008 - 1:31 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Have your friend contact a Realtor. They can do a market analysis for your friend and let them know where prices are.

My Realtor was Austin Black from Max Broock. He is very knowledgable, well respected and will give you an honest assessment of the market.

You can find more info on his website: www.austinb2.com. He also does a monthly e-newsletter http://www.austinb2.com/about/ urban_living.htm

Good luck!

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