Home Buying in Dearborn>Question Details

Rkr24, Home Buyer in Dearborn, MI

I am going to be in dearborn for the next 5 years and I was wondering if anyone had advice on where to buy

Asked by Rkr24, Dearborn, MI Wed Apr 9, 2008

a condo. I do not know the area at all. I am 26 and hoping to sell the place after 5 years when I am done training at Oakwood hospital. I was looking at Springwells St as well as some in Fairlane Woods and others around Hubbard/Mercury dr. There is a sizable price difference between the areas and I just was unsure if one area was better for resale purposes. Thanks!

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PinnacleHomes.com Is the best builder in Michigan. They have been builder of the year for several years even when the market was down.
0 votes Thank Flag Link Fri Aug 30, 2013
The answer is do NOT buy anything! If you look at historical records adjusted for inflation, you'll lose more money in a Michigan home than you'll make in appreciation, on average. This is emphasized when compared to national averages. If you don't believe me Google Real Estate articles in the New York Times or other major sites. Keep your money in your pocket and find real estate outside of the Midwest.
0 votes Thank Flag Link Fri May 2, 2008
I owned a home then rented a large townhouse in springwells. Nice, but not as nice as it used to be, insurance is higher,and you can't walk to get anywhere. Rent, don't buy there. Instead, look into the Ford home historic district, as the homes and neighbors are great, rentals and homes are available, you can walk to the nice trendy downtown area and it is a close drive or bike ride to Oakwood. The neighborhood was featured in a magazine last fall. (Cottage living). Good luck!
0 votes Thank Flag Link Tue Apr 29, 2008
We have a great house on Rockford, dearborn hills subdivision. It's a great neighborhood with lots of great neighbors. We are downsizing and looking to sell for what we owe only $154,900. 23700 Rockford, Dearborn MI 48124. Master bedroom with jacuzzi tub... lots of closet space. small yard for less maintenance. :) ctal@sbcglobal.net - the house will be open this sunday 1-4 - yeah the big open house!
0 votes Thank Flag Link Thu Apr 24, 2008
I live in Dearborn. It has been a lovely place as a single woman raising a daughter from infant to 11 years. I live near Gulley and Telegraph. I would recommend that you NOT purchase a home/condo if it is only for 5 years, but that you RENT a home or condo. In our small sub there has been 30% foreclosures out of 52 homes,including mine. Most of us worked at a large corporation that has and is still significantly downsizing. The forecast for the few year in the housing market are going to be very grim in Michigan.
0 votes Thank Flag Link Tue Apr 22, 2008
I'll sell you my 3-bedroom, 1 and 1/2 bedroom home in the Greenfield/Ford Road area as is for $99,900! Or make me an offer. You can email me at petersdaddy@yahoo.com for more information.
0 votes Thank Flag Link Fri Apr 18, 2008
Rkr24,
Buy one of the small houses just north of Oakwood main, Culver and that area. If you are there for 5 years, I am guessing a surgical residency.....You'd do well to live close, and that is a reasonably safe area as well as dirt cheap. Lots of families with kids and older people. I would live between Oakwood and Outer Drive, south of Rotunda and north of Oakwood.
If not, move to the Dearborn Hills area, close to the Dearborn Hills Golf Course. (Not the Country Club) Lots of homes for sale there too. This is a very stable and attractive area. Several houses for sale by owner. If you need help, talk to Med-Ed, and they can refer you to docs who live in the area.
Good luck, and kick some butt on the wards!
0 votes Thank Flag Link Wed Apr 16, 2008
I actually live in Dearborn. It's a really nice area, but housing prices are plummeting. If you're only going to live here for 5 years, you might want to consider renting, rather than buying. In the short term, it doesn't always pay to buy something. Particularly in a down market. You don't want to find out in 5 years that your condo is worth less than you paid for it. That's the situation a lot of folks in the area are in right now. As for location, I'd stay West of Southfield Freeway (M-39). You'll be closer to work, closer to the "Downtown" area of Dearborn (restaurants/shopping), and car/home insurance is significantly cheaper. East of the freeway is a different zip code. The opposite border of that zip goes to Detroit. In turn, all insurance rates are higher. This includes Springwells and the Hubbard/Mercury area. If it were me, I'd be looking in the Michigan Avenue X Monroe area. Better re-sale and a lot of new development. If you're needing a realtor, send me an email at dnewman19@hotmail.com. I have a few friends in the business right here in Dearborn.
0 votes Thank Flag Link Fri Apr 11, 2008
I have family in the Dearborn area and am familiar with the condo and home market. I would be more than happy to give you assistance in your search.

Liz Tintinalli
313-617-2699
lt@lizindetroit.com
0 votes Thank Flag Link Fri Apr 11, 2008
Hello! I have a member of my team who has lived near there for decades and is a home builder. Feel free to drop me a line and I will get the two of you connected...

I can be emailed at derek@doortodreams.com or you can phone me at 734.591.9200 x200. Thanks!
Web Reference: http://www.DoorToDreams.com
0 votes Thank Flag Link Thu Apr 10, 2008
If you are only going to be there 5 years you want to make sure that you purchase in a complex that has a fair amount of turnover. Your buyers agent should be able to tell you how many units typically sell per year in each complex that you are looking at. Considering the market we are currently in if there's a steady rate of sales that demand should help the unit appreciate as the market picks up. Hopefully five years from now our local real estate market will be in better shape than we are right now.

If there is anything that I can do to help you out with please let me know.

Gordon

Gordon@MInextHome.com
(734) 658-3662
Web Reference: http://www.MInextHome.com
0 votes Thank Flag Link Thu Apr 10, 2008
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