Here are some more emails from my blog visitors. I am finishing my report and whomever contributed will get it by Monday. Good work and thank you.
From Bill Reed:
Mark 2 hot cities I think are Tecumseh and Saline MI. I have relation that paid 75 k for 10 acres south of Saline, and I hear ground in the same area is worth more now than 3 years ago considerable.
Tecumseh area I see some new developments going in and wondered if I should try to buy a lot and resell it in a couple of years.
From Vondell Boyer:
The Hot market for Real estate in my area would be Eastpointe because the area has nice homes & it's quiet,also close to shopping malls, gas stations, schools, & the location is not far from most main streets & express ways, the houses most are priced wright but some sell for more then they should, And people buy them.
From Kim Elliott:
Here are a few that I think are the next 'hot cities' in Michigan:
Saline - room to grow & great schools
Milan - people spilling out there from high prices of Ann Arbor, lots of bang for the buck Belleville - reminds me of Canton 10 years ago
Redford - perhaps a sleeping giant, access to downtown, very affordable, real neighborhoods with small parks, hints of infrastructure development
From Don Clark:
I have recently moved here to Lake Orion. I cannot believe all of the building up this area has done in the last few years. Blue ribbon schools and a little bit of country has this area booming. It starts in Auburn Hills, and goes north up m-24 through Lake Orion, Oxford, and is starting to hit Metamora. Metamora is the next big thing if I were to bet.
From R Mcoice:
I live in Sterling Heights (SH) and would consider it to be a "hot" market based on my definition,
but perhaps not yours. I wouldn't say that people would pay any price to live there, but there
are other compelling reasons that make SH a great market.
1) Schools - SH is in the top 10 school districts in the State based on test scores (SH is part of the Utica school system). They also have several "blue ribbon" schools.
2) Safety - SH is rated as one of the top 100 safest cities in the country.
3) Affordability - This is a double edged sword. You can buy a very nice home in SH for around $200k.
This is a bargain when you consider how prices have skyrocketed in other cities. SH is now considered a good place for starter homes/first time home buyers. A large % of
residents are blue collar workers. With the demise of the auto industry and the high unemployment rate in general, many blue collar workers have lost their jobs as companies move manufacturing overseas.
SH like many communities has seen an increase in bank foreclosures as people have lost their jobs and can't make their mortgage payment.
4) Condition of homes - most neighborhoods are in good condition. In many cases you woudn't have to spend much money on repairs or upgrades before reselling it.
From Mike Farrell:
I think Ann Arbor is a hot city - Not in terms of rapid price
increase, but more in the sense that people will pay any price to live
there. Here are some reasons why:
1) The University of Michigan and Hospitals cause people to move into
and leave the area all the time
2) The city is land locked so the city limits cannot be expanded.
This creates more scarcity and drives up prices
3) Ann Arbor Public Schools are nationally recognized and often times
people will pay the higher prices just to be in the school system - In
fact a new High School is about to be built within the next couple of
years
4) Lots of ways to invest in Ann Arbor - Buying an old house in the
student ghetto and renting it for income ($500 per month per room is a
solid average price), and of course pre-foreclosures and REO's
From Chris:
I would elect Canton... I am a business owner there and would totally elect it... I remember visiting there 8 years ago, and seeing farmland... Now it is totally jumping! There is even an IKEA, Gap, etc... coming to town soon. Also, as I drive around and see the homes that are for sale, I cannot stop thinking about how the exact same house elsewhere would sell for much less (especially considering price / sq ft in some neighborhoods - e.g. Cherry Hill Village, etc)... I look forward to seeing your list,
From Rick Kelly:
Mark - I am thinking Ann Arbor because there is no other city like it around. Large University, plenty of cultural, learning, sporting, dining opportunities.
From Terri Buffum
Mark My pick for a Hot city is 2 cities that are intertwined, here are a few of the reasons that I believe it is a hot market in these "Downriver Communities"
1. Brownstown is Building a new Henry Ford Hospital
2. Brownstown is developing a Downtown that is supposed to have the feel of Birmingham
3. Woodhaven/Brownstown High School just finished an expansion on their existing High School.
4. Target in Woodhaven just added on to their store AND:
5. Walmart is going up directly across the street from Target.
6. I have heard that Costco is coming to Woodhaven 1 block from Target/Walmart.
7. Downriver is more affordable than a lot of areas and there is still soo much wide open space for even more growth.
8. Conviently located to I75 & I 275...20 minutes to Downtown Detroit, 10 minutes to Metro Airport
9. The Detroit Free Press has named it one of the up & coming places to live in.
When I moved here 5 years ago I hated it, there was nothing here, no restaurants, no strip malls etc. I think Target, Home Depot & Farmer Jack were either brand new or just opening I can't wait til everything is done, the new Hospital will be done in early 2006 and probably not to long for the Downtown areas. I really like living here now.
From Mark and Joanna:
Many people move up to Grand Blanc from Oakland County, because you can get way more of a house for your $. It is a nice small town, with affordable houses for now, and not too long of a drive to Auburn Hills area for work. Taxes are also lower but the city caught on and raised them last year. There is a lot of new development, and houses have been steadily going up in price. The school system is great and new businesses are moving in. Reminds me of what Canton used to be way back when, lots of farm lands and tone of new development.
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