Just Listed – Detroit Towers | $299,900

3 Bedrooms, 2.5 Baths | 2,400 sq ft | $299,900 | MLS #29116815

Detroit Towers

Luxury waterfront condo in Detroit Towers featuring 1920s historic charm with modern amenities. Gourmet kitchen with granite counters, Pewabic Tile backsplash, Sub Zero fridge, beverage center and a 48″ dual fuel Wolf range. With 2,400 sq ft of living space, this home includes a formal dining room, butler’s pantry, a spacious living room with a fireplace and river views. Relax in a spa-like master bathroom with rain shower head and deep soaking tub.

dual fuel Wolf range

Built in 1926 in a Renaissance style with 36 homes (only two homes per floor), Detroit Towers is on the Gold Coast in The Villages community. Located two miles east of downtown, along the Detroit River, The Villages of Detroit are a unique collection of waterfront communities each with authentic personality and charm. This includes historic neighborhoods, high-rise condos, edgy lofts and apartments, and affordable rental properties and new construction homes.

Residents work together to make The Villages a great place to live. From monthly cocktail parties and progressive dinners to neighborhood clean-ups and community gardens, people here are close-knit and involved, ready to make a difference in their neighborhood, the city and the world.

living room

Association fee includes heat, water, 24/7 valet, elevator operator and building manager. Community also features a riverfront promenade, garden and meticulously manicured lawns that offer peace and tranquility. Homeowners have the opportunity to take advantage of the Neighborhood Enterprise Zone (NEZ) property tax abatement.

Austin Black II – Listing Agent

Max Broock Realtors

313.550.2307

austin@citylivingdetroit.com

CityLivingDetroit.com

What does $1,600/month buy in Detroit?

Spectacular furnished condo for lease at The Ellington in Midtown Detroit! Enjoy close proximity to the DMC, WSU, entertainment, culture, restaurants and downtown Detroit. This partially furnished home includes hardwood floors, granite countertops, floor to ceiling windows and a balcony. Enjoy a 24 hour fitness center, indoor parking and first floor retail featuring Starbucks.

The Ellington Exterior Corner

• Address: 3670 Woodward Avenue
• Price: $1,600/month (furnished)
• Square Footage: 1,226
• Bedrooms: 2
• Bathrooms: 2
• Year Built: 2006

Foreclosures boost Southeast Michigan residential home sales in July

Crain’s Detroit Business | Dan Duggan

The number of residential real estate sales in Southeast Michigan increased in July compared to the same period in 2008, however most of the growth is in foreclosure sales.

In July, there were 6,452 residential sales, up 18.7 percent compared to 5,436 sales in July, 2008, according to data from the Farmington Hills-based MLS Realcomp II Ltd.

More than half of the sales — 3,275 — were foreclosures; upping the number of foreclosure sales in the region by 75 percent compared to July 2008.

For the month of July, there were 111 non-foreclosure sales in Detroit, a 64.5 percent drop year-over-year; 425 in Macomb for a 6.2 percent drop; 842 in Oakland for a 6 percent drop; and 817 in Wayne for an 18.5 percent drop.

The median price on all sales dropped 38.1 percent from $105,000 in July, 2008 to $65,000 in July, 2009.

One of several bright spots in the numbers was that the non-foreclosure, median sale price for homes in the city of Detroit grew by 100 percent from $11,000 in July, 2008 to $22,000 in July, 2009.

For all of Wayne County, the number increased as well from $96,950 in 2008 to $100,000 in 2009.

In areas like Midtown and the University District, there seems to be more interest in sales right now, said Austin Black II, a Realtor in the Birmingham office of Max Broock Realtors who specializes in Detroit sales.

And those properties seem to be selling at higher prices, he said.

“Last week, I put in an offer for a client on a home in Palmer Woods and there were multiple offers on the house,” he said. “I haven’t seen multiple offers in a while.”

Black also said that some of the homes purchased dirt cheap in foreclosure are now being fixed-up and sold at market rate, perhaps driving the increase.

Also considered a positive indicator, the amount of time required for homes to sell decreased in July.

A home spent an average of 103 days on the market as of July, compared to 118 days as of July 2008. The inventory of unsold homes also reduced to 48,831 marking the lowest inventory number since March, 2006.

Black, however, noted that there are less people listing their homes.

“It appears that a lot of people are guessing that they won’t get what they’re asking for their homes, so they’re just not listing them,” he said.

Crain’s Communications  2009

Willys Overland announces new pricing! $20,000 MSHDA down payment assistance available

Willys Overland Model

The developer at Willys Overland Lofts has recently reduced prices on select homes. Lofts at the development are now competitive with similar development projects in the area.

Willys Overland is one of the most unique true loft developments in metro Detroit. Purchasers have the opportunity to work with the developer’s architect to craft a unique living space. As a result, no two units are alike.

In addition to new pricing, the Michigan State Housing Development Authority (MSHDA) has allocated five $20,000 down payment assistance loans (0% interest) available for units priced under $225,000 (Contact a MSHDA lender to get additional details on the program). Currently one person is in the application process for the grant, leaving four left. With the new pricing, 37 units at Willys Overland are within the price rage to qualify for the program.

Willys Overland Lofts

If that wasn’t enough, National City Bank (the primary lender for the project) offers the NCHAMP mortgage which allows qualified purchasers get a 30 year fixed mortgage with a 1.5% below market interest rate.

Unit 105 | 1,448 sq ft | $182,900 – private garden area

Unit 201 | 1,015 sq ft | $116,900

Unit 110 | 1,077 sq ft | $179,900 – private garden area

The above units are listed by:

Austin Black II | Max Broock Realtors | 313.550.2307 | austin@citylivingdetroit.com

Brush Park Village North “Asher” Model

Listed by Austin Black II | Max Broock Realtors | 313.550.2307 | austin@citylivingdetroit.com

Sunday Brunch at Brush Park Village North

Sunday, July 26 | 11:30 am to 1:30 pm
3152 John R, Detroit, MI 48201

Brush Park Village North Model

Join me for a special open house brunch at Brush Park Village North. Take a tour of the model home and enjoy views of the downtown skyline from the rooftop terrace.

Call (313.550.2307) or email (austin@austinb2.com) to RSVP (space is limited) for this special brunch catered by Russell Street Deli.

Brush Park Village North Stimulus Plan!

Brush Park Village North is now offering 10% to 32% savings on select homes.

• $8,000 Income Tax Credit – Expires November 2009
• Flexible Down Payment Options for Qualified Buyers
• Historically Low Interest Rates
• Walking Distance to Comerica Park/Ford Field
• Near the DMC, Orchestra Hall and Restaurants
• Interior Design Consultation
• One Year Membership to the Boll Family YMCA
• Close within 120 Days on Select Units

	Original Price	Savings	New Price
200 Erskine	$      309,900	$100,000	$209,900
3148 John R	$      324,900	$  85,000	$239,900
208 Erskine	$      284,900	$  85,000	$199,900
3160 John R	$      154,900	$  15,900	$139,000
3142 John R	$      219,900	$  30,000	$189,900

MSHDA Offers $20,000 Down Payment Assistance for Willys Overland Lofts

The Michigan State Housing Development Authority (MSHDA) is now offering $20,000 in down payment assistance for qualifying home buyers at Willys Overland Lofts in Midtown Detroit. 37 lofts at Willys Overland qualify for the program. Currently, there are 5 $20,000 grants available.

For more information, contact Austin Black II, austin@citylivingdetroit.com or 313.550.2307.

Just Listed – 429 East Ferry Condo | $274,259

3 Bedrooms, 2 Baths | 3,000 sq ft | $274,259 | MLS #29050472

Spectacular 3,000 sq ft condo on historic East Ferry in Midtown features granite countertops, ceramic tiled bathrooms, maple kitchen cabinets, recessed lighting, hardwood floors, fireplace, skylights and a huge master suite with private terrace. This home has been approved for the NEZ property tax abatement.

 

Austin Black II – Listing Agent

Max Broock Realtors

313.550.2307

austin@citylivingdetroit.com

CityLivingDetroit.com

AustinB2.com

Just Listed – 428 East Ferry Condo | $199,259

3 Bedrooms, 2.5 Baths | 2,000 sq ft | $199,259 | MLS #29050500

Luxurious condo on historic East Ferry condo in Midtown features Brazilian Cherry hardwood floors, tumbled marble in all bathrooms, kitchen with cherry cabinets and granite countertops, stainless steel appliances, custom lighting, master bathroom with jetted tub, beverage center, fireplace and surround sound wiring. This home has been approved for the NEZ property tax abatement.

 

Austin Black II – Listing Agent

Max Broock Realtors

313.550.2307

austin@citylivingdetroit.com

CityLivingDetroit.com

AustinB2.com