Discuss Detroit » Archives - March 2009 » Palmer Woods? « Previous Next »
Top of pageBottom of page

Displaced
Member
Username: Displaced

Post Number: 21
Registered: 01-2009
Posted on Tuesday, February 24, 2009 - 3:37 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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?
Top of pageBottom of page

Chitaku
Member
Username: Chitaku

Post Number: 2122
Registered: 03-2006
Posted on Tuesday, February 24, 2009 - 3:40 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

dude, if you have the cash then take it. Sweet ass house in a great and perfectly located neighborhood.
Top of pageBottom of page

El_jimbo
Member
Username: El_jimbo

Post Number: 951
Registered: 12-2006
Posted on Tuesday, February 24, 2009 - 3:45 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Nice house. My own personal opinion is that the kitchen needs an update, but at that price it's worth it.
Top of pageBottom of page

Andylinn
Member
Username: Andylinn

Post Number: 1095
Registered: 04-2006
Posted on Tuesday, February 24, 2009 - 3:48 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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?
Top of pageBottom of page

Abraham
Member
Username: Abraham

Post Number: 30
Registered: 06-2005
Posted on Tuesday, February 24, 2009 - 3:51 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

I will be sold very shortly. I on the horn right now. Thanks.
Top of pageBottom of page

Rsa
Member
Username: Rsa

Post Number: 945
Registered: 10-2003
Posted on Tuesday, February 24, 2009 - 3:55 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.]
Top of pageBottom of page

Eastsideal
Member
Username: Eastsideal

Post Number: 342
Registered: 10-2007
Posted on Tuesday, February 24, 2009 - 4:01 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Palmer Woods is as fine a neighborhood as there is in the City of Detroit.
Top of pageBottom of page

Abraham
Member
Username: Abraham

Post Number: 33
Registered: 06-2005
Posted on Tuesday, February 24, 2009 - 4:01 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

ofcourse, I would not buy any home without an inspection.
Top of pageBottom of page

Originalg313
Member
Username: Originalg313

Post Number: 57
Registered: 08-2008
Posted on Tuesday, February 24, 2009 - 4:32 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Here's some more information about the house.
http://www.realtor.com/realest ateandhomes-detail/19411-Woods ton-Rd_Detroit_MI_48203_109797 1639
Top of pageBottom of page

El_jimbo
Member
Username: El_jimbo

Post Number: 952
Registered: 12-2006
Posted on Tuesday, February 24, 2009 - 4:53 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

looks like you'd have to redo that bathroom too.
Top of pageBottom of page

Det_ard
Member
Username: Det_ard

Post Number: 17
Registered: 02-2009
Posted on Tuesday, February 24, 2009 - 5:32 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.
Top of pageBottom of page

Savannah
Member
Username: Savannah

Post Number: 113
Registered: 02-2008
Posted on Tuesday, February 24, 2009 - 5:52 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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)
Top of pageBottom of page

Sciencefair
Member
Username: Sciencefair

Post Number: 146
Registered: 10-2007
Posted on Tuesday, February 24, 2009 - 5:55 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Also know that it costs a pretty penny to heat a 4500 SF home.
Top of pageBottom of page

Mwilbert
Member
Username: Mwilbert

Post Number: 510
Registered: 11-2007
Posted on Tuesday, February 24, 2009 - 6:11 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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?
Top of pageBottom of page

Lodgedodger
Member
Username: Lodgedodger

Post Number: 1529
Registered: 05-2008
Posted on Tuesday, February 24, 2009 - 6:31 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

The kitchen cupboards are the cheapest ever. Whenever I see a home with those cupboards, I immediately question any "improvements" made by the owner.
Top of pageBottom of page

Spitcoff
Member
Username: Spitcoff

Post Number: 120
Registered: 03-2004
Posted on Tuesday, February 24, 2009 - 7:04 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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
Top of pageBottom of page

Defendbrooklyn
Member
Username: Defendbrooklyn

Post Number: 964
Registered: 11-2005
Posted on Wednesday, February 25, 2009 - 11:05 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Wow! looks like a great deal on paper...
Insulation would be my first renovation...

Very nice neighborhood!
Top of pageBottom of page

Pkbroch
Member
Username: Pkbroch

Post Number: 242
Registered: 02-2008
Posted on Wednesday, February 25, 2009 - 11:50 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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
Top of pageBottom of page

Gralr
Member
Username: Gralr

Post Number: 77
Registered: 12-2008
Posted on Thursday, February 26, 2009 - 2:35 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.
Top of pageBottom of page

Swingline
Member
Username: Swingline

Post Number: 910
Registered: 11-2003
Posted on Thursday, February 26, 2009 - 9:34 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.
Top of pageBottom of page

Swimmaven
Member
Username: Swimmaven

Post Number: 37
Registered: 05-2007
Posted on Friday, February 27, 2009 - 2:41 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

What is the percentage rate on a residental property in Detroit?
Top of pageBottom of page

Det_ard
Member
Username: Det_ard

Post Number: 43
Registered: 02-2009
Posted on Friday, February 27, 2009 - 9:24 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

Roughly 3.3% owner occupied, 4.2% for a rental. That's 67 mills and 85 mills respectively.
Top of pageBottom of page

321brian
Member
Username: 321brian

Post Number: 603
Registered: 02-2006
Posted on Friday, February 27, 2009 - 9:38 am:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.
Top of pageBottom of page

7051
Member
Username: 7051

Post Number: 196
Registered: 02-2006
Posted on Friday, February 27, 2009 - 1:12 pm:   Edit PostDelete Post   Move Post (Moderator/Admin Only)

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.

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.