Displaced Member Username: Displaced
Post Number: 21 Registered: 01-2009
| Posted on Tuesday, February 24, 2009 - 3:37 pm: | |
im my never ending quest for my own slice of detroit, i came across this place http://detroit.craigslist.org/ reo/1045624975.html . anyone live in teh palmer woods area? how is it? taxes suck? |
Chitaku Member Username: Chitaku
Post Number: 2122 Registered: 03-2006
| Posted on Tuesday, February 24, 2009 - 3:40 pm: | |
dude, if you have the cash then take it. Sweet ass house in a great and perfectly located neighborhood. |
El_jimbo Member Username: El_jimbo
Post Number: 951 Registered: 12-2006
| Posted on Tuesday, February 24, 2009 - 3:45 pm: | |
Nice house. My own personal opinion is that the kitchen needs an update, but at that price it's worth it. |
Andylinn Member Username: Andylinn
Post Number: 1095 Registered: 04-2006
| Posted on Tuesday, February 24, 2009 - 3:48 pm: | |
The price is amazing, just remember that you should not buy it unless you could afford to maintain it. It is a mansion and will require mansion-sized repairs... Also, I agree that kitchen has to go, as does that hideous fireplace. euugh. Who the hell would replace original hardwood mantel with cheap looking modern marble? |
Abraham Member Username: Abraham
Post Number: 30 Registered: 06-2005
| Posted on Tuesday, February 24, 2009 - 3:51 pm: | |
I will be sold very shortly. I on the horn right now. Thanks. |
Rsa Member Username: Rsa
Post Number: 945 Registered: 10-2003
| Posted on Tuesday, February 24, 2009 - 3:55 pm: | |
don't buy without an inspection either; who knows what lurks underneath! also, if the pipes have been winterized, don't automatically assume that means they're in working order. [we found out the hard way that the bank winterized our pipes after water had froze in them. luckily repairs were very minor.] |
Eastsideal Member Username: Eastsideal
Post Number: 342 Registered: 10-2007
| Posted on Tuesday, February 24, 2009 - 4:01 pm: | |
Palmer Woods is as fine a neighborhood as there is in the City of Detroit. |
Abraham Member Username: Abraham
Post Number: 33 Registered: 06-2005
| Posted on Tuesday, February 24, 2009 - 4:01 pm: | |
ofcourse, I would not buy any home without an inspection. |
Originalg313 Member Username: Originalg313
Post Number: 57 Registered: 08-2008
| Posted on Tuesday, February 24, 2009 - 4:32 pm: | |
Here's some more information about the house. http://www.realtor.com/realest ateandhomes-detail/19411-Woods ton-Rd_Detroit_MI_48203_109797 1639 |
El_jimbo Member Username: El_jimbo
Post Number: 952 Registered: 12-2006
| Posted on Tuesday, February 24, 2009 - 4:53 pm: | |
looks like you'd have to redo that bathroom too. |
Det_ard Member Username: Det_ard
Post Number: 17 Registered: 02-2009
| Posted on Tuesday, February 24, 2009 - 5:32 pm: | |
It looks great from the outside but I don't see any "Palmer Woods"iness in the photos of the inside. Hopefully it has at least some of the original features. Still, at $75K cash there's a lot you can do with it. 2007 taxes were $8,147, but you'd need to see if they'll uncap to a higher level. Check on the property tax reduction also, if it's been applied for and granted or if you'll need to do that. |
Savannah Member Username: Savannah
Post Number: 113 Registered: 02-2008
| Posted on Tuesday, February 24, 2009 - 5:52 pm: | |
That is a 1.5 million dollar property here in Slowvannah. Somebody who doesn't play the lottery needs to crunch the numbers on dismantling it and moving it.(kidding) |
Sciencefair Member Username: Sciencefair
Post Number: 146 Registered: 10-2007
| Posted on Tuesday, February 24, 2009 - 5:55 pm: | |
Also know that it costs a pretty penny to heat a 4500 SF home. |
Mwilbert Member Username: Mwilbert
Post Number: 510 Registered: 11-2007
| Posted on Tuesday, February 24, 2009 - 6:11 pm: | |
That is a great deal, but Andylinn is right--the maintenance (and heating) is potentially very expensive, and whoever "renovated" it had very questionable taste. If you could afford to pay twice as much, I'd say you shouldn't have a problem. Do you know how big the lot is? |
Lodgedodger Member Username: Lodgedodger
Post Number: 1529 Registered: 05-2008
| Posted on Tuesday, February 24, 2009 - 6:31 pm: | |
The kitchen cupboards are the cheapest ever. Whenever I see a home with those cupboards, I immediately question any "improvements" made by the owner. |
Spitcoff Member Username: Spitcoff
Post Number: 120 Registered: 03-2004
| Posted on Tuesday, February 24, 2009 - 7:04 pm: | |
Grew up and lived in PW almost my whole like except for the last 2 years. The neighborhood is great but taxes will kill you |
Defendbrooklyn Member Username: Defendbrooklyn
Post Number: 964 Registered: 11-2005
| Posted on Wednesday, February 25, 2009 - 11:05 am: | |
Wow! looks like a great deal on paper... Insulation would be my first renovation... Very nice neighborhood! |
Pkbroch Member Username: Pkbroch
Post Number: 242 Registered: 02-2008
| Posted on Wednesday, February 25, 2009 - 11:50 am: | |
The house has been on the market for over 18 months. The person selling it left flyers on Palmer Woods porches. The web site had over 30 pictures showing damage on the inside. If I can find that web address I will post it. Heat and maintanance is a big cost even when taxes are lowered they are high due to Detroit's rates. Get an inspection and plan on high maintanance costs. These homes are close to 70-80 years old. But it is a wonderful Area we have lived here for over thirty years. See www.palmerwoods.org |
Gralr Member Username: Gralr
Post Number: 77 Registered: 12-2008
| Posted on Thursday, February 26, 2009 - 2:35 am: | |
Watch out for the taxes some homes can go up dramatically after you but it. There was one house we were looking at that was on the course for $99,000 but the taxes were over GULP $20,000 per year. Then add heating, and maintenance, GULP I can handle maintenance, and heating with geothermal, or alternative but that costs a bundle to convert right away. BUTTTTTTTTTTTTT the taxes ouch. |
Swingline Member Username: Swingline
Post Number: 910 Registered: 11-2003
| Posted on Thursday, February 26, 2009 - 9:34 am: | |
Once again a thread needs a clarification on property taxes in Detroit. MLS property tax information is almost always misleading (either too high or too low) because it doesn't take into account 1) previously capped taxable values under Prop A, and 2) inflated taxable values on foreclosure properties that will be drastically reduced upon a sale at market price. A $99K home in Detroit will have an approx. $3,500 tax bill. Not saying that Detroit taxes are low but perpetuating inaccurate horror stories really does Detroit a diservice. |
Swimmaven Member Username: Swimmaven
Post Number: 37 Registered: 05-2007
| Posted on Friday, February 27, 2009 - 2:41 am: | |
What is the percentage rate on a residental property in Detroit? |
Det_ard Member Username: Det_ard
Post Number: 43 Registered: 02-2009
| Posted on Friday, February 27, 2009 - 9:24 am: | |
Roughly 3.3% owner occupied, 4.2% for a rental. That's 67 mills and 85 mills respectively. |
321brian Member Username: 321brian
Post Number: 603 Registered: 02-2006
| Posted on Friday, February 27, 2009 - 9:38 am: | |
OK who bought it? The house went pending Wednesday. It's 2008 SEV was 167,692 a drop from 220,889 from 2005-07. It's current taxable value is 114,503. 2008 taxes were around $8000. Those numbers should meet next year after the change in ownership. Where? Nobody knows. Hopefully around 120,000. Still way too high but trending down nicely. Bottom line is. Taxes shouldn't go much higher. |
7051 Member Username: 7051
Post Number: 196 Registered: 02-2006
| Posted on Friday, February 27, 2009 - 1:12 pm: | |
3Mills garbage were removed 3 years ago/$300 fee added. Current=64 mills and 82 mills + $300 garbage. You're doing better now on the garbage fee if your taxable value was over 100K and you're doing worse if your taxable value is under 100k with the new garbage fee. Per a knowledgable city assessor 2 years ago - 50% of all dwellings in the city were paying $1,000 or less annually in property taxes. During the late Archer years assessors were instructed to put an emphasis on assessment increases in the better parts of the city-hence the higher taxable values in PW, Univ. District, etc., etc. However some of this has been fixed with almost 40 new neighborhood enterprise tax zones(NEZs) which bring your total mills from 64 to 50 for 15 years. It halves the almost 19.8 city operating mills and halves the 9.5 mill county operating mills. |