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Median Home Prices In Detroit Fall To $6,000. Get one for as low as $100

This is a cute little house for 20 thousand

l317c4542-m0m.jpg


http://www.realtor.com/realestateandhomes-detail/16242-Collingham_Detroit_MI_48205_1111850033?source=hp
 
I'm in the Detroit area for a few days on business. Was talking to a couple from DC on the plane that had just bought a lake front cottage for $20,000. It needs some interior work but has 120 foot of lake frontage. I said you could have almost charged it on your credit card! lol!

Detroit should move some people out of neighborhoods and completely bulldoze them. Try to pull things in and create density and population. Perhaps it will eventually infill but there are blocks and blocks of utter devastation that is not benefiting anyone.
 
thewiz said:
I'm in the Detroit area for a few days on business. Was talking to a couple from DC on the plane that had just bought a lake front cottage for $20,000. It needs some interior work but has 120 foot of lake frontage. I said you could have almost charged it on your credit card! lol!

Detroit should move some people out of neighborhoods and completely bulldoze them. Try to pull things in and create density and population. Perhaps it will eventually infill but there are blocks and blocks of utter devastation that is not benefiting anyone.
Click to expand...

I think they are considering that!!
 
Makes one wonder how much it would cost to buy a nice Detroit house and move it to wherever you want to live. Just buy the lot and plop the house down.
 
Wow, incredible. Interestingly, I wrote a 20 page final paper in my Geography class last term about urban decay and regeneration. I compared Toronto to Detroit and tried to answer the question of why Toronto has been successful at sustaining its downtown while Detroit has continued its decline. Among some of my findings include: Densities never dropped as significantly as they did in Toronto; a focus on freeways for transportation in Detroit led people to avoid the core; racial tensions remain a problem in Detroit, with the inner city being populated largely by poor Blacks; and Americans are more resistant to government and, consequently, regional growth plans. Neat stuff!!
 
torontoguy22 said:
Wow, incredible. Interestingly, I wrote a 20 page final paper in my Geography class last term about urban decay and regeneration. I compared Toronto to Detroit and tried to answer the question of why Toronto has been successful at sustaining its downtown while Detroit has continued its decline. Among some of my findings include: Densities never dropped as significantly as they did in Toronto; a focus on freeways for transportation in Detroit led people to avoid the core; racial tensions remain a problem in Detroit, with the inner city being populated largely by poor Blacks; and Americans are more resistant to government and, consequently, regional growth plans. Neat stuff!!
Click to expand...


Don't forget all of the sexy hot gay boys that live in Toronto....they seem to have more per capita than other cities.....with so many sexy gay men....how could it now be fabulous! ;)
 
It is so sad that many of very interesting architectures are abandoned and burned.

Many of the houses are full of historic charms and it is so sad to see something very lovable and once so glamorous buildings in those poor states.

I'd hate to see them bulldozed away. It will definitely help Detroit to be more desirable place and might attract more people but Detroit should at least preserve some of the whole block or neighborhood to remember what they had gone through and how they failed to save their history.

I just wish there were way to preserve some of the charm of the buildings in ghetto area. I'd hate to see this place turned into new housing development which has no character at all:(
They should at least mimic the style of the houses, or the character from the those amazing but ruined buildings:(:(:(


And also feel bad for those homeowners who invested so much and now losing money.
 
Being from Michigan -- although far enough from Detroit to not be affected by its demise -- it is truly sad to see what has happened to the city.

Some of the most beautiful architectural gems are rotting in downtown Detroit. One has to remember that at one time the city was wealthy and that wealth was translated into gorgeous and spectacular details. Those details are expensive to retain as well as maintain and as a result are abandoned or, at best, covered by grafitti and siding.

Someone also mentioned the gays in Toronto. Sad to say, Detroit is also a very non-diversified city. The whites were the first to flee; the wealthier blacks next left the city. During Coleman Young's mayoral reign it was no secret that "white money" was not welcomed in Detroit and as a result it ended up invested in the suburbs (which today have problems because those same people fled further and further out).

Gays have a track record of taking the abandoned and making it useful. One need only look at Washington, DC and see the impact of gays on the city. Dupont Circle, Logan Circle and even on U Street and 9th -- the gays homesteaded and made the initial investments. Heck, even the area around the new ballpark was kept alive for years by the gay establishments that were then forcibly relocated or put out of business.

Michigan, in general, is not very gay friendly (I can say that after years of hiding). I remember when a fellow manager "came out" in an on-line forum after he was exposed by a Detroit newspaper. It was almost a scandal that there could be a gay manager. It forced me to hide in the closet even longer....
 
WOW... a 6,000 square foot home for under $400k

http://www.realtor.com/realestateandhomes-detail/1470-Iroquois-St_Detroit_MI_48214_M36592-11632


Here is another one...over 8,000 square feet for under $400k
http://www.realtor.com/realestateandhomes-detail/19400-Parkside-St_Detroit_MI_48221_M46375-65638


3,400 sq feet for under $100k
http://www.realtor.com/realestateandhomes-detail/1937-West-Boston-Blvd_Detroit_MI_48206_M47569-28606


The outside of this home looks like it could be in San Marino, CA...there it would be worth over $2million
here it is under $200k
3,400 sq feet for under $100k
http://www.realtor.com/realestateandhomes-detail/1937-West-Boston-Blvd_Detroit_MI_48206_M47569-28606
 
metta said:
In the city of Detroit, the medium sales price in May was $6,000, down 29.4% from May 2008
Click to expand...

Top 3 reasons I wouldn't want one of these bargain houses:

1) Location

2) Location

3) Location
 
While I was just in Detroit, they had streets of beautiful Victorian homes they would give away; would even help fix them up. In DC these houses would be worth over a million....in Detroit they will either be given away, burned down, or torn down....

Sad...
 
The city tears down about 7,000 homes each year; I believe they have a backlog of about 52,000 houses that are vacant, fire damaged, or stripped by vandals and that does not include all the commercial buildings.

The real problem facing Detroit is what to do next. If you have a large area that used to have hundreds of homes and all but two of those homes are bulldozed -- do you make the people move from the two and shut off the street lights, water lines, sewer lines, and quit maintaining the roads? Do you provide the same police and fire services to these (now) sparsely populated areas even though they are living in an urban "city"?

How do you move people closer together who may have paid off their house and were planning the end of their lives?

In downtown Detroit I noticed at least five buildings that were boarded up and darkened (probably each was 20 stories high or more). What do you do with these? There certainly is no need for more parking lots in the downtown area.....
 
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