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Ainít it grand: Detroit selling homes for just $1,000
Fox News ^ | May 02, 2014 | Garrett Tenney

Posted on 05/02/2014 11:26:19 PM PDT by Olog-hai

The Motor City has a deal for you—classical homes with a starting price of just $1,000.

The online auction for abandoned, but sturdy homes is the latest plan by city leaders to fight blight and boost property values as Detroit crawls its way out of bankruptcy. […]

The city isn’t hiding the fact that nearly all of the homes up for auction will require a lot of work to repair. …

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: Michigan
KEYWORDS: abandonedhomes; bankrupt; detroit; michigan; propertyvalues
And how many of these is Michael Moore buying . . . ?
1 posted on 05/02/2014 11:26:20 PM PDT by Olog-hai
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To: Olog-hai

If I were younger, I’d think about it.

They auctioned off rowhouses in Baltimore in the ‘70s that are worth a fortune now.


2 posted on 05/02/2014 11:30:21 PM PDT by Forgotten Amendments (On the wrong side of history.)
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To: Olog-hai

At least you get great neighbors.


3 posted on 05/02/2014 11:40:21 PM PDT by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
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To: Olog-hai

“It could be a great opportunity to get a great home in a great neighborhood for a great value,” Northway said.

Is it really a good neighborhood and if yes why are the homes abandoned?


4 posted on 05/02/2014 11:44:06 PM PDT by funfan
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To: funfan

Remember, “good” and “great” are not synonyms.


5 posted on 05/02/2014 11:49:49 PM PDT by Olog-hai
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To: funfan

What Detroit doesn’t say is you would need to put $100,000 or more into renovating the property.

But what’s the neighborhood like? Dude - don’t bother if its a high crime neighborhood. It wouldn’t be worth to live in at any price.


6 posted on 05/02/2014 11:51:20 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Forgotten Amendments
They auctioned off rowhouses in Baltimore in the ‘70s that are worth a fortune now.

That's because of inflated government, and it was 40 years ago. Do you think auto manufacturing or any other labor intensive industry is coming back to Detroit? Maybe people will go there for the climate.


7 posted on 05/02/2014 11:56:00 PM PDT by 867V309 (GOPe? NOPe!)
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To: 867V309

If you like freezing your bum off, Detroit is the Resort From Hell.


8 posted on 05/02/2014 11:58:17 PM PDT by goldstategop (In Memory Of A Dearly Beloved Friend Who Lives In My Heart Forever)
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To: Forgotten Amendments

Buy a few adjacent properties and knock down all the houses you own. Then build a nice house and a moat around the whole thing.


9 posted on 05/03/2014 12:01:38 AM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: goldstategop

It’s also the “Arsenal of Dumbocracy”


10 posted on 05/03/2014 12:04:02 AM PDT by 867V309 (GOPe? NOPe!)
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To: goldstategop

winter is a real problem there. the land might be turned to maple orchards. don’t see it ever having the population it once did.


11 posted on 05/03/2014 12:25:30 AM PDT by RitchieAprile
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To: Olog-hai

The catch 22 is probably the tax and water bill... like $1000 a month


12 posted on 05/03/2014 2:32:32 AM PDT by lavaroise (A well regulated gun being necessary to the state, the rights of the militia shall not be infringed)
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To: Olog-hai

Better to be nuked than elect liberals.


Even commies do better.

13 posted on 05/03/2014 3:08:17 AM PDT by Fear The People (When the government fears the people, you have LIBERTY.)
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To: Olog-hai
In Detroit, they're overpriced at $1.

The City of Detroit should be paying people to buy houses there. Property taxes provide a stream of funds to city's coffers -- real estate is not just an asset to the owner, it's an asset to the gov't, too.

14 posted on 05/03/2014 3:24:46 AM PDT by Sooth2222 ("Suppose you were an idiot. And suppose you were a member of congress. But I repeat myself." M.Twain)
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To: Olog-hai

New democratic program?


15 posted on 05/03/2014 3:35:07 AM PDT by ronnie raygun
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To: Olog-hai

Can you buy, put the pieces on a truck and reassemble elsewhere?


16 posted on 05/03/2014 3:52:39 AM PDT by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: Forgotten Amendments

If you check out the site, some of these are pretty decent places. I’m not into urban living but the houses themselves aren’t so bad.

A FReeper who moved to Detroit says it hasn’t been bad at all.

http://www.freerepublic.com/focus/bloggers/3151196/posts?page=20#20


17 posted on 05/03/2014 4:14:14 AM PDT by cripplecreek (Remember the River Raisin.)
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To: Olog-hai

One doesnt need to even get off I 75 to see this. 8 mile road down is really a site to see.

If the right developer gets down there and buys WHOLE blocks, he could turn the area into a gated community. Combine the lots into bigger lots and build.


18 posted on 05/03/2014 6:18:48 AM PDT by crz
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To: Olog-hai

That’s nothing new. 25 years ago, I bought a house in Detroit, complete with two welfare queen tenants for $2,000. I sold it 2 years later for $3,000


19 posted on 05/03/2014 6:25:33 AM PDT by cyclotic (America's premier outdoor adventure association for boys-traillifeusa.com)
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To: Olog-hai

Nicole, on “Rehab Addi ct”, bought one, rehabbed it, even bought aso theren adjacent lot to turn into a community garden with the local kids as farm hands...

I’m wondering if she ever sold/flipped that house...or is she still stuck with it.

There was a Detroit renovation society/organization involved. I don’t know if they were a mandatory part of the process, or she used them just for historical input.

Also...

Anthony Bourdain did one of his “Parts Unknown” (?) shows in Detroit. He had a local taxi cab driver driving him around, giving history on the boom/bust of the city.

One of the main features of any of his shows is the local food, so there were scenes from eateries...including a home that a couple were selling food out of...with a grill set up in a vacant lot next door to grill up bbq, chicken, etc.

Main thrust of the program seemed to be that the city was healing itself.

I wasn’t sold.


20 posted on 05/03/2014 6:53:24 AM PDT by moovova
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To: Olog-hai
It looks like the City of Detroit is raising the cost of its derelict homes. At one time they were selling them for $1.00 and now the price has gone up to $1,000.00. What were the improvements that caused the price to increase?

Seriously, before anyone would want to dump at least $100,000 into these “fixer uppers”, prospective owners should ask:

1. Are all liens against the property forgiven or waived (including back property taxes)?
2. Are the utilities still functioning to this residence; that is -- water, sewer, electricity, gas, telephone?
3. Are there any restrictions on “sweat equity” labor to fix-up this house part of the sale, or do all the renovations have to be done by union labor?
4. What about the building permits? How many and how much?
5. What about inspections? How many and how much?
6. After the work is completed, will the property be reassessed and at what rate? Will the rate reflect the blighted neighborhood where this house is, or will that be disregarded?
7. Will property taxes be waived or reduced during the rehabilitation process or not? If not, why not?
8. What city services will my taxes support and will I get them? [One reason why property and other taxes have gone unpaid is because the City of Detroit took the money and did not provide the services that taxpayers were paying money to receive.]

21 posted on 05/03/2014 7:19:57 AM PDT by MasterGunner01
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To: MasterGunner01
All good questions. This being Detroit, I can guess most of the answers.

In fact, no matter what the politicians there answered, I wouldn't believe a thing they say. If it can't move they will loot it unless the neighbors get to it first.

22 posted on 05/03/2014 8:07:46 AM PDT by Gritty (Gun controllers aren't afraid of guns but a country where the individual has power-Dan Greenfield)
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