Jllt~;Itr....~"'~D" News Vol
I Are home prices really declining in some of the Pointes? By Chip Chapman home sale pnces have fallen 20 per- For a number of reasons, mamly Staff Writer want the pnces publIshed There'b no m the cIty for a""e"sment purposes, cent m Grosse POInte Farms and 18 pnvacy. home buyers and bellers, longer any pUlpose for not dlbClo"lOg said contI oller Jm1 Nabh Can a""es<;ments In a cIty mcrease percent In Gro"se POinte Shores especially of hIgher-pnced hou<,e", the bale pnce becdu"e It Ib now public dUring the same perIOd home prIces "The .l~;,cb"ed value goeb up to that "In the last couple of years, one- a"k that the sale pnce not be made record due to btate statute" figUIe, but I" capped by Proposal A, In the "ame cIty decrease? third to half of the home sales m the public Enough $1 or "no money" sale" Under Propo"al A. a property trans- Some people who had the March thI'> year It 1" 2 8 pel cent," he saId Shoreb have been listed as $1 or 'no can alter home sale pnce averageb for fer affidaVIt IS required, from buyer to edltlOn of Detroit Monthly In one "When d home sell~, It becomes money' sales," said Tim O'Donnell. a community assessor, to ensure the property IS hand and theIr 1996 assessment In 'uncapped' The new cap Ib based on as"es"or for the Shores and Farms "The problem started when home properly asses"cd the other may have asked that ques- the old a,,,e<,sed value, not the sales "We haven't seen any drop m the sale pnces were published In The The Farms does not keep tl ack of pnce" tIOn Shores smce the early 1980s Smce DetrOit Newb and Free Press," said average home "ale pnces, but when il A home sdJe pllce of $1 would not be A chart In the magazme showed 1991, home pnces have Increased at Forman Johnston, co-owner of Bolton- home sclb, the sale" pnce Ib factOled that between 1991 and 1995, average least 15 percent" Johnston AsSOCIates 'People didn't agamst the sale of comparable home" See HOMES, page 19A Your Community Newspaper "'1 Grosse ,jllt~;Itr....~"'~d" News Vol.
[Show full text]