What's the story on this house? 2265 Boston

**Detwa** · August-19-09, 03:58 PM

http://www.realtor.com/realestateand...026_1111739294

Is this a good area? I can't believe its on 50k!

**Russix** · August-19-09, 04:31 PM

There is double the number of foreclosed listings then realtor listings nationally which means its triple or quadruple here. The house next door or across the street is probably selling for under $10,000. A house on my street which was selling for $130,000 in 2006 sold for $5,000 2 months ago.

Lorax · August-19-09, 04:36 PM

Originally Posted by Detwa

http://www.realtor.com/realestateand...026_1111739294

Is this a good area? I can't believe its on 50k!

Here's the reasons why it's OVERPRICED at 50k:

1. It's in Detroit
2. Taxes are most likely disproportionate to the house's value
3. There is no school system
4. There is no police protection
5. Boston-Edison association, which does an admirable job at trying to keep the neighborhood alive, recommends residents pay for the private security detail that monitors the neighborhood.
6. The economy. This house would be twice this price in a better economy.
7. The appraised value is most likely out of whack with it actual value.

Being bank owned, this house will most likely sell around 30k.

I had been looking for a home in this area for several years, and each time I found one I wanted to make an offer on, all of a sudden there were multiple offers.

This is a tactic used by banks, or in some cases owners who want to create a bidding war by pricing the houses so low.

It's really a scam, since it's improbable that each and every house I was prepared to place an offer on all of a sudden had three or four additional offers backed up.

Then, strangely, when I would walk away, they would be back on the market, and stay there for months or years to come.

I told my agent that I would not bid on a house, period. So, apparently there is only scamming going on here, ginning up a real cash buyer against mythical ghost buyers.

So I bought in Southfield.

**Fury13** · August-19-09, 04:40 PM

Originally Posted by Detwa

http://www.realtor.com/realestateand...026_1111739294

Is this a good area? I can't believe its on 50k!

That's on Boston near 14th. Not a great area. It's in the western portion of Boston-Edison, which is on the "other side" of the Lodge. Higher crime over there than east of the Lodge, I believe. Although the neighborhood appears relatively pleasant during the day, you would not be safe walking around the area after dark. You might not even be safe sitting on your own front porch [[I know someone who used to live in that area and was robbed late at night while sitting outside his home).

**Detwa** · August-19-09, 04:47 PM

Wow, well that's why I asked. Just looking at the photo I am amazed because it looks beautiful and definitely looks like it would be worth far more than $50k.

Arghh, I got scammed on those suddenly appearing multiple offers! They got me like that a couple of times, now I know in the future if suddenly competition arrives, I'll just back out. There's not much worth competing for in this market so you can pretty much believe its just a sales tactic.

Lorax · August-19-09, 04:57 PM

Originally Posted by Detwa

Wow, well that's why I asked. Just looking at the photo I am amazed because it looks beautiful and definitely looks like it would be worth far more than $50k.

Arghh, I got scammed on those suddenly appearing multiple offers! They got me like that a couple of times, now I know in the future if suddenly competition arrives, I'll just back out. There's not much worth competing for in this market so you can pretty much believe its just a sales tactic.

In all fairness, I only know personally, for what it's worth, of one couple who were able to make a lowball offer on a foreclosure in Boston Edison and actually get it without competition. The reason being, they figured out, is that the real-estate division of the bank that had the foreclosure, was actually selling it in-house. Most banks hire foreclosure specialist real estate firms who just about 100% engage in the bidding game, so immediately look at the listing agent and see if they are independents, or part of a larger bank-holding company.

In any even, always lowball, and walk away if they don't accept the offer. If they counter, and there is no other competition, consider it.

crawford · August-19-09, 04:58 PM

It's a beautiful house, and an even more beautiful neighborhood, but I wouldn't live there for free.

Safety and peace of mind are the most basic requirements of human shelter. This location has neither.

**mwilbert** · August-19-09, 05:24 PM

There are currently very nice houses in the University District in that price range, and I consider that neighborhood relatively safe. Here are some that are somewhat similar in style to the one you were looking at on Boston.

You might look at this one:

http://www.trulia.com/property/10839...troit-MI-48221

It is a nice house, but certainly needs some amount of work.

Or

http://www.trulia.com/property/10776...troit-MI-48221

which was on my paper route when I was a kid.

I walked by the next one last week:

http://www.trulia.com/property/10841...troit-MI-48221

That is a really nice house from the outside, but I don't know how the inside is. There were no obvious serious issues from the outside.

No doubt you could use any of a number of tools to find more. There are also a number of foreclosures available if you wanted to look at those.

**softailrider** · August-20-09, 05:27 PM

Originally Posted by crawford

It's a beautiful house, and an even more beautiful neighborhood, but I wouldn't live there for free.

Safety and peace of mind are the most basic requirements of human shelter. This location has neither.

Can't argue with that last paragraph, couldn't have put it any better.

**davewindsor** · August-19-09, 08:02 PM

Go for it. Have a price in mind and raise it not a penny higher. They all look like great deals and are at a fraction of their historical cost. When the real estate market turns around, you'll make a killing. Don't listen to the naysayers. I bet you it will be sold within a week if you don't start putting some offers down and you'll be out of luck on them.

**Fury13** · August-19-09, 08:58 PM

Originally Posted by davewindsor

Go for it. Have a price in mind and raise it not a penny higher. They all look like great deals and are at a fraction of their historical cost. When the real estate market turns around, you'll make a killing. Don't listen to the naysayers. I bet you it will be sold within a week if you don't start putting some offers down and you'll be out of luck on them.

Dave, that area is simply not safe, and it's not going to get measurably more safe in five years.

Lorax · August-19-09, 09:09 PM

Originally Posted by Fury13

Dave, that area is simply not safe, and it's not going to get measurably more safe in five years.

Try ten or twenty years.

Until the Detroit police respond like they do in Grosse Pointe, then no home in Boston-Edison will be worth more than 100k in the best of times.

**davewindsor** · August-19-09, 09:31 PM

Originally Posted by Fury13

Dave, that area is simply not safe, and it's not going to get measurably more safe in five years.

If you don't feel safe in that area, get a CCW permit. If you're gone, have an alarm set up with monitoring or get a guard dog. If you're talking about B-E, I suspect it has a good neighbourhood watch program since I didn't see any boarded up, broken windows or even bars on the windows the last time I walked through it, unlike the houses I saw on the other side of Woodward, but don't let that side of Woodward deter you. Just pay attention to the condition of the houses on the block you want and that should be indicator of the area.

crawford · August-19-09, 10:04 PM

Dave in Windsor, don't you think that if carrying concealed deadly weaponry is a necessary requirement for owning a piece of real estate, most people might consider other options?

**davewindsor** · August-19-09, 10:16 PM

Originally Posted by crawford

Dave in Windsor, don't you think that if carrying concealed deadly weaponry is a necessary requirement for owning a piece of real estate, most people might consider other options?

No, it's not a necessary requirement; it's if you feel unsafe. I've walked through those neighbourhoods on both sides of Woodward and never had anything happen to me. I never felt unsafe. You make it sound worse than it actually is. Quit acting like a wimp and grow a pair. Take a stroll down some of these streets. Why sweat like a dog for tiny living quarters in the burbs when you can get huge, beautiful and luxurious homes like these for peanuts.

**mwilbert** · August-19-09, 10:24 PM

Until the Detroit police respond like they do in Grosse Pointe, then no home in Boston-Edison will be worth more than 100k in the best of times.

This is a very questionable statement--police response simply isn't the sole basis for property value. I don't know how to assess "worth" in this context, but in the recent best of times, lots of them certainly COST much more than 100K, and certainly some still do. Boston-Edison isn't all alike either--the house in question here is on the wrong side of the Lodge from the best parts of B-E, and one of the big problems with B-E is that even though many of the houses are beautiful, the neighborhood is encircled by much less desirable areas. In my opinion, living on the fringes of B-E requires a proper understanding of what one is getting into. Of course, a proper understanding is advisable wherever you are looking at living.

**EDBL** · August-21-09, 01:10 PM

Originally Posted by davewindsor

If you don't feel safe in that area, get a CCW permit. If you're gone, have an alarm set up with monitoring or get a guard dog. If you're talking about B-E, I suspect it has a good neighbourhood watch program since I didn't see any boarded up, broken windows or even bars on the windows the last time I walked through it, unlike the houses I saw on the other side of Woodward, but don't let that side of Woodward deter you. Just pay attention to the condition of the houses on the block you want and that should be indicator of the area.

I promised myself that I would not post this on the forum but I can't let this go. It deals with crime in Detroit. I had a beautiful home in a historic district in a comparable area meaning our neighborhood was fine but surrounded just like BE.

I had security doors, an alarm system, lighting and a great guard dog. I decided to go to Windsor to meet a friend back in December. When I returned, they tried to get in the side but couldn't get through the door. All the while I am sure the dog was going off since she would bark if the wind blew too hard.

Not to be deterred, they decided to jump the fence and go to the back door. Unfortunately, they got through. Keep in mind, while this is happening my large 70 lb dog is going nuts.

Not a problem for them, they came in and shot her dead.

I believe they were still in the house when I pulled up since they left quite alot of valuables which means if I would have gotten there three minutes earlier they might have shot me.

But here's the kicker. They came back the next day and tried to break in again-in broad daylight.

That was the last straw. In my opinion, crime in Detroit has gotten completely out of control and I do not foresee it getting any better anytime soon. When I toyed with the idea of driving around the corner, parking my car, jumping the fence and going back into the house to wait for them to come back I knew it was time to go.

I have been very active in community service in Detroit and have always supported the city but enough is enough. The criminal element is so out of control. It is just not worth living there anymore. Insurance and taxes are also out of control

A CCW won't help unless you are ready to use it. Alarm systems can be cut and as you can see they could care less about a big guard dog.

My dog was great, had her since she was 6 weeks. I lost more than a dog; I lost my best friend. And Detroit lost an active tax paying citizen.

**davewindsor** · August-21-09, 02:33 PM

Originally Posted by EDBL

I promised myself that I would not post this on the forum but I can't let this go. It deals with crime in Detroit. I had a beautiful home in a historic district in a comparable area meaning our neighborhood was fine but surrounded just like BE.

I had security doors, an alarm system, lighting and a great guard dog. I decided to go to Windsor to meet a friend back in December. When I returned, they tried to get in the side but couldn't get through the door. All the while I am sure the dog was going off since she would bark if the wind blew too hard.

Not to be deterred, they decided to jump the fence and go to the back door. Unfortunately, they got through. Keep in mind, while this is happening my large 70 lb dog is going nuts.

Not a problem for them, they came in and shot her dead.

I believe they were still in the house when I pulled up since they left quite alot of valuables which means if I would have gotten there three minutes earlier they might have shot me.

But here's the kicker. They came back the next day and tried to break in again-in broad daylight.

That was the last straw. In my opinion, crime in Detroit has gotten completely out of control and I do not foresee it getting any better anytime soon. When I toyed with the idea of driving around the corner, parking my car, jumping the fence and going back into the house to wait for them to come back I knew it was time to go.

I have been very active in community service in Detroit and have always supported the city but enough is enough. The criminal element is so out of control. It is just not worth living there anymore. Insurance and taxes are also out of control

A CCW won't help unless you are ready to use it. Alarm systems can be cut and as you can see they could care less about a big guard dog.

My dog was great, had her since she was 6 weeks. I lost more than a dog; I lost my best friend. And Detroit lost an active tax paying citizen.

Sorry for your loss, but, first, this was not the BE district this happened in. What area of the city was this? Also, was the alarm monitored, i.e, connected to a security company? It doesn't sound like it was, but if it was, did they come out? What was the response time? What was the monitoring company name?

Did they ever catch the culprits? If not, why not? Security cameras can now be connected to basic PC real cheap. At Besy Buy, I can now get a colour infrared night vision security camera with 100 feet of 9volt cable for $39 [[I have several). I can hook with it up to my PC with a $20 card off ebay [[I've done this) with the videos saved on my hard drive. A UPS can be bought for under $100 so the computer can for some time if there's a power outage. I can even live stream the videos over the Internet to store at a remote location. Did you do that?

But, this is all besides the point. What you've told me sounds like an inside job. They knew you went to another country. They cut an alarm and knew where it was and how to do it without tripping it. They knew you had a dog and broke in and shot her. How did they know how to cut your alarm? Have you ever let strange people into your house who scouted it out? There's something about your story that just doesn't add up, which makes me think this incident could have been avoided and that this is not a general thing that would go on in BE, but something more unique to your situation.

**stasu1213** · August-19-09, 10:27 PM

Maybe it is haunted

**mwilbert** · August-19-09, 10:38 PM

[

Seems to knock a hole in your argument.

Assuming you were addressing my comment, I don't really see why. A single sale doesn't prove much of anything, and you didn't mention the sales price and of course these aren't the "best of times" either, closer to the worst. If anything, I'd say it was a point in my favor.

Lorax · August-19-09, 10:47 PM

I was- not trying to be confrontational here, but I have spent an inordinate amount of time looking in the area, as I really love the housing stock there and was run round the pole on several of these houses, what with the agents creating bidding wars and such.

The house I mentioned no doubt being one of the larger, better situated homes, I'm sure sold for less than the asking price, though I can't confirm this. The listing price alone was ridiculous, even if the interior was trashed, which it was not.

My point, is anyone really interested in a home in this area needs to be aware of the pitfalls of living in Detroit. I am away nearly half the year, and planned to use it only in the better weather months, and ended up buying in Southfield.

I really wanted an old mansion, but love mid-century modern as well, and that won out this time.

I couldn't leave such a house empty for months on end without fear of it being broken into constantly. Even with swat team security, it's not enough.

crawford · August-19-09, 11:01 PM

Why would anyone assume that Arden Park sold for full asking?

I don't care if it's 100,000 square feet and sitting on 100 acres of land; the fact is that it's in a below-average Detroit neighborhood, yet with an asking price 10 times the city median asking price.

Arden Park has some nice homes, but it's a pretty nasty neighborhood. Boston Edison is like Zurich in terms of relative safety.

Lorax · August-19-09, 11:17 PM

Originally Posted by crawford

Why would anyone assume that Arden Park sold for full asking?

I don't care if it's 100,000 square feet and sitting on 100 acres of land; the fact is that it's in a below-average Detroit neighborhood, yet with an asking price 10 times the city median asking price.

Arden Park has some nice homes, but it's a pretty nasty neighborhood. Boston Edison is like Zurich in terms of relative safety.

They are right across the street from one another, how much different can it be?

They have always been part of the same neighborhood.

crawford · August-19-09, 11:43 PM

Arden Park looks a heck of a lot rougher, and has a much worse rep.

For one, Arden Park is half gone. Boston Edison is mostly intact.

And Arden Park has had crime problems since the 1950's, when it was abandoned by whites. Boston Edison has always been racially mixed and somewhat economically grounded.

**masterblaster** · August-20-09, 01:03 AM

Can someone who lives in the Boston-Edison neighborhood please confirm the claim that the neighborhood east of the Lodge Freeway, is safer than the neighborhood west of the Lodge Freeway. I am having a hard time believing that, because the WHOLE NEIGHBORHOOD IS SURROUNDED BY SHADY AREAS.

Fury13, don't you live in the Gross Pointes! Crawford, aren't you in NYC! How do you know how unsafe the area is? Because of one anecdotal incident? I don't have statistical proof, but my uninformed opinion is that you are exaggerating how bad it is! It's not like its Highland Park!

Also, Lorax, the taxes on the house at 2265 Boston are listed slightly over 1,500 dollars, so they are not that high compared to many others.
http://www.realestateone.com/vp/List...&cd_MLS=111243