Discuss Detroit Archives - Beginning January 2006 Grayhaven house on Ebay Previous Next
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Newbie
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Username: Newbie

Post Number: 14
Registered: 05-2005
Posted From: 65.24.198.179
Posted on Saturday, December 10, 2005 - 8:52 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Found this beautiful old house on Ebay! Isnt she a beauty. Take a look at part of detroit's history.

http://www.450keelsondetroit.c om/pages/1/index.htm

Is access to Grayhaven restricted? How built out is the development?
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Fury13
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Username: Fury13

Post Number: 777
Registered: 10-2003
Posted From: 69.14.122.204
Posted on Saturday, December 10, 2005 - 9:14 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

It's been on the market for some time. Beautiful house, and a nice spot on the water.
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Llyn
Member
Username: Llyn

Post Number: 1277
Registered: 06-2004
Posted From: 68.61.197.206
Posted on Sunday, December 11, 2005 - 2:14 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Beautiful house. If I just had three quarter million...
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Brandon48202
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Username: Brandon48202

Post Number: 33
Registered: 12-2004
Posted From: 68.248.15.192
Posted on Sunday, December 11, 2005 - 2:23 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Grayhaven Island was built out with the new homes several years ago, and yes, access to the Island is restricted.
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Patrick
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Username: Patrick

Post Number: 3123
Registered: 10-2003
Posted From: 68.250.96.218
Posted on Sunday, December 11, 2005 - 9:51 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

That home has been on the market for years. It is a bit overpriced, at least that is what I think. Or, it was...
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Fnemecek
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Username: Fnemecek

Post Number: 1344
Registered: 12-2004
Posted From: 69.212.34.113
Posted on Sunday, December 11, 2005 - 10:38 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

$749,000 for 5,000 sq. ft., on the water with a private boat well and in a gated community is not overpriced.

If anything it's cheap.

BTW - I crunched some numbers. Mortgage, property taxes and insurance for the place should run about $6,800 per month.

Outside of my price range for the moment, but still quite reasonably priced.

Here's hoping the housing market in southeastern Michigan stays as crappy as it is for another year or two. I'd love to have a chance at that one.
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Sknutson
Member
Username: Sknutson

Post Number: 398
Registered: 03-2004
Posted From: 64.139.1.36
Posted on Monday, December 12, 2005 - 2:04 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

That's less than my 1,100 sq ft house in San Fran sold for in 1999.
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Fnemecek
Member
Username: Fnemecek

Post Number: 1346
Registered: 12-2004
Posted From: 69.219.103.157
Posted on Monday, December 12, 2005 - 2:36 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Amen, Sknutson. Real estate in Detroit is (pardon the pun) dirt cheap.

One more reason why I stick around this town. That and the fact that Britney Spears rarely shows up here.
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Kova
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Username: Kova

Post Number: 163
Registered: 12-2003
Posted From: 141.211.222.209
Posted on Monday, December 12, 2005 - 3:00 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

$6,800 per month

OUCH

Yeah, i want the market to stay bad for a while too, want to fulfill my dream to become a slumlord ( a good one tho hehe )
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Psip
Member
Username: Psip

Post Number: 629
Registered: 04-2005
Posted From: 69.246.13.131
Posted on Monday, December 12, 2005 - 3:07 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

$6,800 per month
x 360 months (30 years)
$2,448,000.00

great deal!
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Fnemecek
Member
Username: Fnemecek

Post Number: 1350
Registered: 12-2004
Posted From: 69.219.103.157
Posted on Monday, December 12, 2005 - 3:28 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Psip:
You always end up paying 2 or 3 times a home's value when you're financing it. 6% in interest causes the cost of the home to double every 12 years, one reason why paying off early saves lost of cash.

Of course, you also have to offset all of those costs with a tax deduction for mortgage interest and the fact that your home will presumably go up in value.

All in all, $749,000 is a great price for what you're getting with this home - assuming, of course, that you can afford it in the first place.

BTW - while crunching numbers some more - I figured out that my annual income would have to be at least $244,800 in order afford the house. (Mortgage, property taxes and insurance generally shouldn't be more than 1/3 of your monthly income).
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Psip
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Username: Psip

Post Number: 630
Registered: 04-2005
Posted From: 69.246.13.131
Posted on Monday, December 12, 2005 - 3:40 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Oh, I know about the extracost with mortgages.
What would it cost to heat the building? I bet the insulation is pretty slim.
Its nice, but way to rich for me.
From the pix, I would say that kitchen "needs a little work"

Just noticed they are leasing it for less then $3,000 per month. If they throw in the utilitys, maybe :-)

(Message edited by Psip on December 12, 2005)
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Fnemecek
Member
Username: Fnemecek

Post Number: 1352
Registered: 12-2004
Posted From: 69.219.103.157
Posted on Monday, December 12, 2005 - 3:45 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

I know some folks in Indian Village who pay about $600 a month for their utilities. (I think that was the number they mentioned). They have around 5,000 sq. ft. so I'd imagine that the costs would be fairly close.

Of course, if anyone knows these numbers better than I, please feel free to post your insights.
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Aiw
Member
Username: Aiw

Post Number: 5116
Registered: 10-2003
Posted From: 209.216.150.127
Posted on Monday, December 12, 2005 - 10:03 am: Edit PostDelete PostMove Post (Moderator/Admin Only)


quote:

Of course, you also have to offset all of those costs with a tax deduction for mortgage interest and the fact that your home will presumably go up in value.




Must be nice. No tax deduction in Canada.
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Dabirch
Member
Username: Dabirch

Post Number: 1228
Registered: 06-2004
Posted From: 208.44.117.10
Posted on Monday, December 12, 2005 - 10:29 am: Edit PostDelete PostMove Post (Moderator/Admin Only)


quote:

I know some folks in Indian Village who pay about $600 a month for their utilities




Not this winter. It'll be closer to $900.
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Goat
Member
Username: Goat

Post Number: 7872
Registered: 10-2003
Posted From: 67.70.117.241
Posted on Monday, December 12, 2005 - 11:25 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

I echo AIW's sentaments. Damn! That must feel good. In this country, you fix your house and you end up paying more in taxes. A no-win situation.
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Xd_brklyn
Member
Username: Xd_brklyn

Post Number: 83
Registered: 10-2003
Posted From: 66.88.89.94
Posted on Monday, December 12, 2005 - 1:27 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

To put things in perspective, a one-bedroom
on 72nd Street in Manhattan rents for $2,700/month.

(Message edited by xD_brklyn on December 12, 2005)
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Fnemecek
Member
Username: Fnemecek

Post Number: 1358
Registered: 12-2004
Posted From: 70.227.84.136
Posted on Monday, December 12, 2005 - 3:34 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Goat and AIW:
One more reason to live on the Detroit side of the river.
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Imperfectly
Member
Username: Imperfectly

Post Number: 81
Registered: 06-2004
Posted From: 69.14.162.54
Posted on Monday, December 12, 2005 - 7:45 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

holy crap thats beautiful.
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Kraemerdesigngroup
Member
Username: Kraemerdesigngroup

Post Number: 11
Registered: 10-2005
Posted From: 63.242.134.66
Posted on Tuesday, December 13, 2005 - 9:21 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Anyone have pictures of the new houses on the island?
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Kraemerdesigngroup
Member
Username: Kraemerdesigngroup

Post Number: 12
Registered: 10-2005
Posted From: 63.242.134.66
Posted on Tuesday, December 13, 2005 - 9:24 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Check out this article - great photos

http://info.detnews.com/histor y/story/index.cfm?id=128&categ ory=locations
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Gistok
Member
Username: Gistok

Post Number: 1615
Registered: 08-2004
Posted From: 4.229.81.39
Posted on Wednesday, December 14, 2005 - 3:54 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

My cousin in Germany pays $300 per year for a 4,000 sq. ft. house in property taxes. Of course, they make up for it by soaking you in payroll taxes, as well as silly little taxes, such as for each Radio/TV you own.

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