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Hot take: That guy who said buy in Eastern Market was dead wrong
Back in 2019, this broker named Dave kept pushing me to grab a spot near Eastern Market. Said it was the next big thing, prices could only go up. I listened to him, put an offer on a small warehouse off Gratiot. Deal fell through because the seller wanted cash and I couldn't swing it. Dodged a bullet. That area is still a ghost town on weekdays, and I've seen three listings sit for over a year now. Property I was looking at just sold for 40 grand less than my offer. Who else got burned by one of those "hot zone" predictions around here?
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oscarc5324d ago
Bought into a similar hype zone near Corktown and watched my neighbor sell at a 20 grand loss.
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emmawood23d ago
lol "hot zone predictions" is exactly right. That phrase hits hard because I've seen too many people buy into those promises. Here's the thing about Detroit neighborhoods - you gotta look at what's actually happening on the ground, not what some broker tells you. Walk the blocks on a Tuesday afternoon, check how many storefronts are actually open, look at how long listings sit. That property that sold for 40 grand less than your offer? Thats the real market telling you what something is worth, not some hype piece. If you're looking at another spot now, check the county records for how many cash offers closed in the last 90 days - that'll tell you way more than any broker pitch.
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