Is this a decent neighborhood? Why is it so cheap?

Asked by invest, Warren, MI Sun Dec 16, 2012

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CKI Properties Group’s answer
CKI Properti…, Renter, Warren, MI
Sat Feb 23, 2013
I am very familiar with this area.

The reason this area is so cheap because starting back in 2008 when housing first started going down, everyone was doing a northward shift.

Detroit came to South Warren. South Warren went to Middle Warren, Middle Warren went to North Warren or even farther north. People were walking away from their homes in south warren, buying a new home, then filing bankruptcy. I know this for a fact because I personally know some people who did this.

It's not that the area was bad. Its that the drop in prices allowed people to move up. I was one of them that moved up. I had a 2 bedroom 650 sq.ft. house that I owed $75,000. I rented this one out and bought a 3 bedroom house, basement, gigantic yard and 620 sq.ft. garage in middle warren for $65,000.

And you are correct in the statement that Hardcore pawn is NOT in this area. They aren't too far away though. 10 minutes down 8 mile basically.

Times have changed. I personally started buying some of these homes in South Warren and rehab them. As long as people like me keep doing this, South Warren will come back.

The problem is that banks won't finance a distressed property, which the majority in this area are and that's putting it nicely. And people with $5000-$15000 can buy the house but now don't have the cash to do the rehab.

There are a few of us trying to bring South Warren back. Although I don't have the funds like a few other guys have, I try to do my share. I have lived in Warren since 2004. Areas get bad because the people living their allow it to.

So I hope this helps answer your question. Feel free to check out my website. I have one property for sale and will have another one available for rent in April and both are in South Warren.

CKI Properties
"Giving You The Feeling of Home"
0 votes
Candice.n.tu…, Renter, Mount Clemens, MI
Wed Dec 26, 2012
This area is not near where they film "Hardcore Pawn." Clearly the person claiming that doesn't know much about the area. I am currently looking for a home in the area and I have grown up in Southeastern MI my entire life -- you don't have much to worry about!
0 votes
Sigrid Garri…, Agent, Rochester, MI
Sun Dec 16, 2012

I know the previous owners on this property. I also know the previous tenant on this home as well.
As agents we are not allowed to discuss neighborhoods. You can check with the local police department or go online & there is a lot of information.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Sun Dec 16, 2012
Supply and demand rule the world of real estate and when your supply is up and demand is low the prices drop. I think it is safe to say that without fear. Have you ever seen that TV show called Hardcore Pawn? That shop is near this area - nuff said.
0 votes
Karen Paytas, Agent, Clinton Twp, MI
Sun Dec 16, 2012
Good Afternoon!

As an agent we are not allowed to discuss neighborhoods. You are more than welcome to drive through the area and check it out. This home is a foreclosure and priced accordingly.

If you are interested in viewing the property I would be happy to show it to you.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
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