Metro Detroit realtor’s Military Past

JUST A SIMPLE THANK YOU TO ALL OUR TROOPS PAST AND FUTURE

Most people now think of me as a Metro Detroit realtor but I like you have a past.  I spent four years in the US Military many years ago.  I entered the Army as a grunt, an infantryman and did thirteen weeks at Fort Benning, Georgia.  I then also spent time at Fort Lee, Virgina learning how to pack parachutes.

I then spent 3 1/2 years at Fort Bragg North Carolina.  Some of it with the 82nd Airborne as an infantryman as an aide to Colonel Silvasy commander of the 2nd Brigade.  Some of it packing parachutes for the Special Forces training school.

If you have never been in the Military you don’t realize how much you give up when you join the military.  You give up most things we civilians cherish.  The military owns you.  There is no calling in sick.  The military comes first over family.  Everything you do on and off duty is governed by the military.

I thank all of service men and women that have served in the military. Thanks go helping do the things other people can’t even imagine.  Be proud.

I was in the peace time Army I hand it to all of them that been in harms way.  Thanks.  And my deepest prayers for the families and service men and women that have given the ultimate sacrifice.  It could be your son, your daughter that gave us the ability to have the freedom we all enjoy.

I know my wife Marianne would be devasted if something would happen to Ryan.  And I feel for every mother, father, brother, sister that have lost family serving in the military.  May you remember all the good things and good times that you had with your hero.  I don’t know their faces but in my heart and mind they live on.  For when we think on Labor Day we think of all of you.  Thank you

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Posted on May 26, 2008 @ 8:05 am by russ.ravary - View Profile

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Should I buy a condo now in Downtown Northville Michigan to build equity

I recently had a reader of another one of my blogs on Active Rainask whether they should buy a condo in a local downtown area.  It does not matter what Metro Detroit city it is in condos have never appreciated as fast as Metro Detroit homes do.  In this market Michigan condo prices have fallen further than home prices in many cases.

This was the question from the reader

Hi Russ,

My wife and I visited downtown Plymouth this morning for the farmers market.  It was my first time in Plymouth Michigan  and we enjoyed the atmosphere.  While strolling the area we saw some nice downtown lofts and were considering purchasing one.  If we decided to do so we were thinking that we would live there for maximum two years to build equity before purchasing our first single family home.  We have a 7 month old and feel that we will outgrow it by then.  Do you think that this would be a wise investment to buy a Plymouth loft?

This was my response

I would not recommend buying a loft in this Metro Detroit real estate market to build equity if you were planning to sell it in two years.  Throughout the Metro Detroit Real Estate market home prices are continuing to fall.  Nobody knows when the market will turn or level off.  There are many Michigan foreclosures that are going to hit the real estate market this winter.  That will continue to hold prices down.

I don’t believe that anything you buy right now whether it is a Michigan loft, Michigan condo, or any Michigan home will show much appreciation in the next two years.  You may even lose money on your purchase if you factor in real estate commissions, closing costs, state transfer taxes.

I would make your master plan as follows.  Either continue to save or start thinking about where you want to live for 5 – 10 years.  In this market I would think it should turn around in 5 years where you would get some appreciation on the home or condo you buy.  Think longer term, think of your growing family.  The days of buying a home and flipping it in a year or two for more money is gone at least for a few years.  Think 5 year increments with a little cushion for growth for your family.

Overall condos in Michigan don’t appreciate as fast as homes do.  You will usually get a better rate of return on a Michigan home versus a Michigan condo.

If you would like to get emailed lists of homes or condos in the Metro Detroit real estate area send me an email of your wants, price range, cities you like, how many bedrooms etc and I will send you listings that you can open at your leisure.  My email is info@RussRavary.com

So the bottom line is for anybody buying in this Metro Detroit real estate market and looking for appreciation think longer term.  Don’t buy with the intention of selling in two years and making money.  Buy with the intention of living in your New Metro Detroit Home for at least 5 years before selling.  I don’t believe it matters whether it is Plymouth Michigan http://www.detroitmichiganrealestatehomes.com, Canton, or Northville the real estate market and the appreciation is not going to change much.  Plan for the long term to protect your investment and don’t plan on turning a profit in two years in this Michigan market. To search Michigan homes or condos for sale click on the search for homes button above.

My quote of the day

When planning for a year, plant corn.  When planning for a decade, plant trees.  When planning for life, train and educate people.

Old Chinese proverb

 

 

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