Detroit Real Estate

Wondering where you need to go to get rid of the stuff the garbage truck won't take.  Well here is the information you need.

The first Household Hazardous Waste and Electronic Waste Drop-off event in 2010 will be held Saturday, March 27, 2010.  Wayne County will be conducting a drop-off event from 8:00am to 2:00pm at the Redford Township Public Service Yard located at 12200 Beech Daly Road (South of I-96).

This event is your opportunity to rid your garage, basement, shed, etc., of items such as paints, stains, fertilizer, lawn & garden chemicals, antifreeze, gasoline, etc.  In addition, electronic waste will be accepted including computers, monitors, printers, scanners, cell phones, fax machines, televisions, etc.

Additional information is available at the City of Livonia website www.ci.livonia.mi.us under Departments-DPW Public Service-Household Hazardous Waste

The Saturday, March 27th event is open only to residents of Wayne County and only household waste will be accepted.

I hope this helps you.  I believe if you are a resident of Plymouth, Canton, or Northville you can go to Redford to get rid of your Electronic and hazardous waste.

If you are thinking of relocating to Redford Michigan and buying a piece of Redford Township real estate, here is Redford demographics.  This will give you a glimpse of the city and what it's residents characteristics are. 

I think there will be a big change in Redford demographics.  With the subprime mortgages it changed the characteristics of Redford Township.  It will be interesting to see what the 2010 census says about Redford real estate.

Search Redford Township home listings

 Today I was reading on MSN.com and they had an article on How far Metro Detroit real estate prices have fallen.  I read Cities where homes have lost the most value.  In the article it said the Metro Detroit area homes have lost 31% of their value. 

If you look at the Detroit Metro real estate market as a circle with Detroit as the center, then the next ring of cities, and then the more upscale cities.

The more upscale cities like West Bloomfield, Canton Township, Northville, Rochester have lost 31% of their value.  But you start moving into the inner circle of many of the middle class cities like Dearborn, Redford, Southfield.  Those cities had some homes that their high prices in 2003 were from $100-$140,000.  Now they are ranging from $50,000 to $70,000.  I would say the average loss in those cities about 50%

But the City of Detroit real estate prices in my opinion have taken a huge dive.  I don't know exactly what the average sales price of Detroit homes were at their height.  But I would take a guess and say the average price was about $65,000.  Last year the average sold price of 10,514 Detroit homes that sold through our MLS was $10,692. 

                                  $10,692. Average sold price

                                                                             That's a 83% drop!!!! 

So I think over all Metro Detroit real estate has dropped more than 31%.  But that is just from a guy in the trenchs.  I don't have all the statistics but this is what I am seeing.   

Information provided courtesy of RealComp II Ltd

Russ Ravary your Metro Detroit real estate agent

My quote of the day:

Treat people as if they were what they ought to be, and you help
        them to become what they are capable of being.
                                                                                                      - Goethe

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I am writing this because I know some people that are selling their house to their son.  I feel badly for the son.  They are selling their Redford home to the son for about $85,000.   The son has no real estate representation.  He trusts his parents.  The parents want to move to a nicer area, they want to move out of Redford.

The sad part is that the home is probably only worth about $38,000.  They got an appraisal for $85,000 and it may pass through the banks system but sadly the son could buy a nicer house for the same money.  He could get a brick house instead a vinyl house.  He could another house for sale that is updated completely for roughly the same price.  He could get a Redford home with a basement.  He could get some of those things and only pay $30,000 or $40,000.  I went to list one that was 1000 square ft, very nice inside, didn't need any work.  Had new windows, newer roof, and nice carpeting.  It was only worth about $25,000  The son can find other Redford homes for sale like that.

I feel badly for him.  You see years ago a family member did the same to me.  They wanted to move.   They wanted a certain price.  I was young, I was naive.  I got taken.  But luckily it was a land contract and I was able to get out of it later.  I lost a few bucks.  My family member later sold it for less to another person.

I don't think the parents of the son above really know the Redford real estate market has dropped that much.  I don't know if they don't realize that they are taking advantage of their son so they can move into a nicer area.  Sure there are a few Redford houses that are selling at high price like that but the average price of the homes in that square footage is roughly $44,000 that have sold in the last 6 months.  The son I believe is over paying for the house. 

So whether you are buying the house from Grandma, or your sister-in-law do yourself a favor.  Have a local real estate agent tell you what it is worth.  Or least have the real estate agent tell you what you could buy a comparable home in the area for.  It may not be that grandma is ripping you off intentionally, but she might just think her house is worth a million bucks when it is really not.  

But then again you might want to help grandma out and give her above market price.  You might want to over pay to have the family home.  But will you be happy years later when you try to sell it?  Also have a title company do a title search on the home to make sure the title is clear.

 My quote of the day is:

There is only one happiness in life, to love and be loved.

- George Sand