Tuesday, May 21, 2019

Property values up in Warrendale, according to the Detroit News

Warrendale neighborhood at Christmas - Photo by Frank Nemecek
A report in the Detroit News this morning showed that while crime is still in an issue, the Warrendale neighborhood is on a rebound. Their full article is available online here. In my opinion, there are two key takeaways from this story.

While crime in the Warrendale neighborhood is still higher than in the suburbs of Detroit, it is down in almost every category from where it was a few years ago. I would add that this improvement in public safety has been a fairly consistent one and that there is nothing to suggest that it won't continue to improve.

It's also worth emphasizing that property values in the Warrendale neighborhood have increased by an average of 38% per year over the past five years. This is according to city officials in Detroit who compared MLS data from 2014 with the present day.

Both of these things combine to indicate that the Warrendale neighborhood continues to be an outstanding place to live, work, and invest. Although, for the benefit of any real estate investors who find this page, I remind everyone of what I mentioned about real estate investing in Detroit.

Detroit is a great place for real estate investors. It is, however, a terrible place for real estate speculators. (Please see my post here for more details.)

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