Detroit, MI New Homes

Detroit is currently the 11th most populated city in the United States. It is also the home of the Detroit Tigers (MLB), Lions (NFL), Pistons (NBA) and Red Wings (NFL). But the city's soul is in its music, and the legacy of Motown has earned it the nickname Hitsville, USA. That nickname was assigned to Motown Records's first recording headquarters, a small average-looking house tucked away on a quiet street. The property was converted into the Motown Historical Museum and chronicles the record company's rise to fame for introducing the world to the sounds of Marvin Gaye, The Temptations, The Supremes and many more artists.

The unique Belle Isle Island is also a quick tourist draw, located off the north shore of Isle Royale near Belle Harbor. This sprawling isle of nearly 1,000 acres, houses a park, zoo, botanical garden and the oldest public aquarium. Its landscape was designed by Frederick Law Olmsted of Central Park fame. And with the only swimming beach in the city, Belle Isle is conveniently located near the Detroit Metro but feels more like a world away.

Despite the past growth, Detroit's declining economy has taken a toll on local real estate. The city's housing market has seen a decrease in median home prices of condominiums and single-family homes. But despite the slow housing market, Detroit is still an affordable place to live with the regional cost of living hovering just 10 percent above the national average, according to the Association for Community Researchers.

With increasing demand for waterfront properties, the Detroit River has boosted the Harbortown/River Place neighborhood into prime real estate. This area was named 20th in Forbes.com's list of zip codes with the greatest appreciation.

For a more suburban and eclectic feel, Royal Oak, with its antique past and tree-shaded cul-de-sacs, offers both respite and proximity to the metropolitan area. Royal Oak bungalows, condominiums and family homes can be found in an abundance of styles ranging from Colonial to Craftsman. This thriving neighborhood has small-town charm and offers an array of affordable homes ranging from $110,000 to more than $500,000. Royal Oak condominiums are also available, priced from the mid-$100,000s to more than $300,000.

North Rosedale Park in northwest Detroit offers a more historic view with more than 1,500 homes built in the 1920s and 1930s and reflecting vintage-inspired architectural styles. Classic features like fine-grain hardwood floors and wet plaster walls make these North Rosedale Park homes truly unique. Boasting the city's only private park and Community House, expect to pay an average $250,000 for these architectural gems. Take advantage of the city's burgeoning revival and affordable rates and start your Detroit home search today!

Sources and more information:
http://en.wikipedia.org/wiki/Detroit
http://en.wikipedia.org/wiki/Hitsville_U.S.A.
http://en.wikipedia.org/wiki/Belle_Isle_%28Michigan%29
http://www.detnews.com/apps/pbcs.dll/article?AID=/20060117/BIZ03/601170367
http://www.homeinsight.com/home-value/mi/detroit.asp
http://www.forbes.com/realestate/2006/03/09/home-price-appreciation-cx_sc_0310home_ls.html
http://www.degc.org/main.cfm?location=23
http://www1.move.com/Cities/Neighborhoods.asp?gate=realtor&poe=realtor