Just read your question today. The only information I can find is Greenbriar Building Co, 3116 Belle Terre Drive, Milford, MI 48381, (248) 676-9840. Not sure if this is the same company or not. Let me know if you need any further assistance in Richmond Heights. You can reach me at (314) 223-4687.... more
Although the answer to this question is somewhat subjective, several factors must first be addressed before anyone can assess the quality of investing in a $520,000 home in Richmond Heights.
First of all, what is your purpose for making the purchase? Will this be an investment property or will it be your primary residence? If this is to become your primary residence, then you must consider factors that will make the home worth the price to you. The Ladue School district is a fine district and Richmond Heights is a desirable neighborhood for some people. If the home is up to date and you feel comfortable with the price, then it may be worth the price.
However, if comparable homes in the area are selling for less than half the price, one can safely assume that you will find it challenging to sell this home in the future - regardless of what positive turns the market makes.
Now, if this home is to become an investment property, you will want to research the percentage of people who lease properties in Richmond Heights and what they pay per month. If a comparable monthly payment will cover your mortgage, taxes, etc. with some money left over, then the home would be a quality investment. However, from a resale standpoint, you will again run into challenges if the neighborhood comps are at $250,000.
If there is a specific property that you have questions about, a specific neighborhood or comp data that might help you make your decision, please let me know and I'd be glad to offer my expertise.
Best of luck,
Jeremy Geppert... more
What is your agent advising--and are you aware of recently closed similar properties in the immediate area--if not ask your agent for comps and make a determination on price. As for the future, unfortunately none of us can answer with certainty, who knows where the market will head tomorrow or in years to come.... more