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Topic: University Park home values down

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untanglingwebs
F L I N T O I D

1413 Columbia in University Park recently sold. Listed by Lucy Ham

Sold on 6/14/10$85,000

Zestimate®$76,424

Baths:4
Sqft: 1,840
Lot: 10,890 sq ft / 0.25 acres

Type: Single Family

Year built: 2000

Spacious 2 story in University Park has firelit great room w/vaulted ceilings, massive master suite w/full bath & jetted tub, numerous walk-in closets, hardwood floors, finished basement, all close to downtown & colleges. Also, seller to give $1000 flooring allowance upon closing. Brokered And AdvertisedSpacious 2 story in University Park has firelit great room w/vaulted ceilings, massive master suite w/full bath & jetted tub, numerous walk-in closets, hardwood floors, finished basement, all close to downtown & colleges. Also, seller to give $1000 flooring allowance upon closing. Brokered And Advertised By: Lucy Ham Group Inc Listing Agent: Lucy W Ham Less By: Lucy Ham Group Inc Listing Agent: Lucy W Ham


Last edited by untanglingwebs on Sun Oct 07, 2012 2:32 pm; edited 1 time in total
Post Sun Oct 07, 2012 1:59 pm 
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untanglingwebs
F L I N T O I D

Similar Homes for Sale

714 Columbia Ln, Flint, MI 48503
For Sale: $70,000
Beds: 3
Sqft: 1693
Baths: 3.0
Lot: 13503
(Smith Village).

734 Spellman Dr, Flint, MI 48503
For Sale: $82,000
Beds: 3
Sqft: 1665
Baths: 3.0
Lot: 8276
.

1133 Chippewa St, Flint, MI 48503
For Sale: $70,000
Beds: 4
Sqft: 1697
Baths: 2.0
Lot: --
.
See listings near 1413 Columbia Dr
.


Nearby Similar Sales
.


718 Loyola Dr, Flint, MI 48503
Sold on 3/15/2011: $70,000
Beds: 3
Sqft: 1856
Baths: 2.5
Lot: 8712
Post Sun Oct 07, 2012 2:06 pm 
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untanglingwebs
F L I N T O I D

About 40 of the 83 homes to be built in Smith Village are going to be sold at market rate. These homes are what realtors call a "big footprint on a small lot'.

The homes with much larger lotsin University Park are selling for about half of what they previously sold for,

There have been foreclosures as some homes were allegedly sold with huge interest rates. There are two foreclosures now, one on Spelman (approximately $57,820) and one on Wilberforce ($59,557).

Besides the larger lots , the homes in University Park were built with more safety features in mind. The area is surrounded by large fences and berms. It has only two points of entance and egress which helps the crime wtch monitor the safety better.

A home built in 2002 as part of the the initial effort to build Smith Village is up for sale at a newly reduced price of $47,449. This home is located at 1529 Root.

The question is whether prospective buyers would spend more for less in Smith Village versus the bargains in University Park?
Post Sun Oct 07, 2012 2:45 pm 
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Dave Starr
F L I N T O I D

A house on our block had a SEV of 22,600 in 2011 and 16,500 in 2012, per the city web site. It just sold for 7,000.

_________________
I used to care, but I take a pill for that now.

Pushing buttons sure can be fun.

When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.

Paddle faster, I hear banjos.
Post Sun Oct 07, 2012 5:23 pm 
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untanglingwebs
F L I N T O I D

Houses south of Miller road are selling far below their value and at times have lost 50% of their value in the last two years.

This begs the question about why we are building new houses, especially those to be sold at market rate when we have so many on the market that are affordable.

Walling wanted 500 new houses in the downtown area. The money used for Smith Village was originally targeted for foreclosures. The changes are devastating when you consider the foreclosures that might have been prevented.
Post Sun Oct 07, 2012 6:51 pm 
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theboyzmom
F L I N T O I D

The sad part is that none of the SEV reflect the actual value of the homes as shown by Dave's post. This is exactly the type of behavior that caused the Genesee Towers problems. Why is the law not being followed and the properties being assessed for what they are REALLY worth? (I know the answer - the government wants to collect more taxes) what a poor choice.
Post Tue Oct 09, 2012 9:00 pm 
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untanglingwebs
F L I N T O I D

The Smith Village Homes are now part of a Renaissance Village. However, the prices on these homes has dropped to $45,000 and up. Watch University park values tank even more. Does this mean they can't sell the homes. even at subsidized prices?

HUD had to agree with the lowered prices.

Doesn't Flint ever learn? Windmill Place was great with all of the food venues and unique shops. Then City leaders and Bill White ignored advice that a second similar venue at Water Street Pavillion would damage both as there would not be enough traffic for both. Both failed and once again the Mott Foundation bailed the city out for U of M Flint.

This was an poorly thought out plan. Until crime is efectively dealt with , there will be no growth. The leaders of the master Plan predicted a further 20,000 person exodus from Flint. High water bills, high assessments and the fear of crime are the reasons I hear for leaving.

Plus Eason put the residents of Flint on the hook for an Early Childhood Development center and a Center for the Performing Arts.
Post Thu Jan 24, 2013 8:41 am 
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Dave Starr
F L I N T O I D

If rumors about moving farmers market to the former Journal press facility are true, watch for the market to die because of the lack of free parking.

_________________
I used to care, but I take a pill for that now.

Pushing buttons sure can be fun.

When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.

Paddle faster, I hear banjos.
Post Thu Jan 24, 2013 10:59 am 
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untanglingwebs
F L I N T O I D

Resolutions from the Emergency manager are indicating a scaled down project because of shortfalls in the funding. Will there be paybacks to HUD over the inability of the city to complete the promised project.

Will repayment drag on forever as it did with the FAEC because the money came to the State of Michigan and then to Flint, so the State is also on the hook.

Meanwhile University Park residents are still on the hook for their market rate houses while some are buying homes built at comprable cost for far less. Noone has indicated if any of these new homes are still supposed to go at market rate. Has something else changed in the project?
Post Tue Feb 12, 2013 8:42 am 
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untanglingwebs
F L I N T O I D

quote:
Dave Starr schreef:
If rumors about moving farmers market to the former Journal press facility are true, watch for the market to die because of the lack of free parking.


In a publication produced by Tim Herman's group about 2002, the plan was already in place to move the market here. They have had a decade to plan this move. Yet the Master Planning Commission is still going through the motions.
Post Tue Feb 12, 2013 8:44 am 
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Ted Jankowski
F L I N T O I D

quote:
untanglingwebs schreef:

Doesn't Flint ever learn? Windmill Place was great with all of the food venues and unique shops. Then City leaders and Bill White ignored advice that a second similar venue at Water Street Pavillion would damage both as there would not be enough traffic for both. Both failed and once again the Mott Foundation bailed the city out for U of M Flint.



The Mott Foundation created that problem. Then they took responsibility.

If rumors about moving farmers market to the former Journal press facility are true, watch for the market to die because of the lack of free parking.

Another Mott Foundation debacle. Just as was Genesee Towers. Only on that one Pete Bade Let Mott and Uptown off the hook and put the citizens of Flint on the hook totally.
Post Wed Feb 13, 2013 4:32 am 
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untanglingwebs
F L I N T O I D

Screams can be heard all over flint as the new assessments are out. The majority of homes in the north end took a 25% hit on their assessment. But with Kurtz and Brown aroun, you can bet the taxes are not any lower!
Post Sun Mar 03, 2013 7:40 pm 
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bella5
F L I N T O I D

A good university housing facility should take care of their students need.

Last edited by bella5 on Wed Nov 27, 2013 3:34 am; edited 1 time in total
Post Sun Mar 17, 2013 10:32 pm 
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untanglingwebs
F L I N T O I D

Bella-University Park is residential and not university student housing. The homes sold at market rate and started at $150,000 and up.
Post Mon Mar 18, 2013 6:30 am 
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