Property values in Detroit - Page 3 - PeachParts Mercedes-Benz Forum

Hatterasguy · #31 07-13-2009, 12:53 PM

Quote:

Originally Posted by cmbdiesel

At that price, buy the house and strip it for copper and reusable building materials. Raze the house after you've recouped your expenses and pay tax on a vacant lot.

Heck, FEMA could buy these houses for Katrina victims cheaper than a trailer, although a little harder to move

I'd imagin most of them are already stripped of copper.

I would take a property in Detroit if someone paid me to take it.

I'm quite happy building cheap $300k spec homes, in my little corner of the world.

Fitz · #32 07-13-2009, 03:09 PM

Obama wants to save Africa, why doesn't he fix Detroit first?

tbomachines · #33 07-13-2009, 03:18 PM

Quote:

Originally Posted by Fitz

Obama wants to save Africa, why doesn't he fix Detroit first?

You can also thank Mr. Bush for spending millions in AIDS relief and saving many many lives, but I guess we should have spent it on Detroit instead. Great point.

Edit: Sorry, I don't mean to be scathing but really, sweeping unbased comments are a huge pet peeve of mine.

Skippy · #34 07-13-2009, 03:31 PM

Wow. I was surprised when a house in my neighborhood went up for sale for $125,000. It had a sign on it a year and a half ago offering it for $169,000. I thought that was low for my area. If I had a full time job right now I'd be ON that.

Fitz · #35 07-13-2009, 03:55 PM

Quote:

Originally Posted by tbomachines

Edit: Sorry, I don't mean to be scathing but really, sweeping unbased comments are a huge pet peeve of mine.

Like when you said the internet bubble was based on sound fundamentals?

See, I'm more tolerant than you are. I allow other people to hold a different point-of-view than my own. I just assumed that when the NASDAQ dropped nearly 80%, you were playing with your Power Ranger action figures and not invested in the market or watching the news.

MTI · #36 07-13-2009, 04:12 PM

Don't forget to include MI in your upcoming vacation plans . . .

Skippy · #37 07-13-2009, 04:17 PM

I've seen the commercials for Michigan tourism. They make the state look halfway decent. OTOH, I used to work with several people who went to Kettering in Flint. After hearing what they had to say, I have no desire to go to that state and would like to actively avoid Detroit and the surrounding area.

dynalow · #38 07-13-2009, 04:27 PM

Quote:

Originally Posted by chilcutt

Thats why I split in November

You, my friend, made the right choice. I applaud your decison.

I just spent about 20 minutes or so using google street maps clicking and dragging and looking at many street scenes all around town. Unbelievable. Everywhere, empty lots and boarded up houses or buiildings on most streets in Detroit. Sad.

I'd pass on this place as an investment. Who is going to provide the payrolls to pay the workers to live in these houses? Too much housing (most of it old stock) for too few people. Just my $.02.

Foreman said these jobs are going boys, and they ain't coming back.
Bruce Springsteen. "My Hometown".
Truer words never spoken.

Fulcrum525 · #39 07-13-2009, 04:36 PM

Quote:

Originally Posted by Skippy

Wow. I was surprised when a house in my neighborhood went up for sale for $125,000. It had a sign on it a year and a half ago offering it for $169,000. I thought that was low for my area. If I had a full time job right now I'd be ON that.

Its all relative. I live in a pretty average town and $125,000 would basically get you a very small old house that "needs works...." here is a case in point. The average selling price is around $250,000+...I would imagine that Milford is considerably higher though.

kerry · #40 07-13-2009, 04:41 PM

Quote:

Originally Posted by Skippy

would like to actively avoid Detroit and the surrounding area.

The UP on the other hand. . .

dynalow · #41 07-13-2009, 05:34 PM

Quote:

Originally Posted by kerry

The UP on the other hand. . .

Yeah, really.
Back in '98 I took a motorcycle trip up MI, crossed the MAC and ran around the UP. We hugged the shoreline pretty much on our way down into WI. I thought to myself, what do these people do here all winter besides hunt and make whoppee?
Seriously, what do the folks do up there all winter. Any logging up there?

Sign I saw in Mackinaw City told me everything I needed to know about winter up there:
" No snowmobiles on the sidewalks"

Hatterasguy · #42 07-13-2009, 05:36 PM

Quote:

Originally Posted by Fulcrum525

Its all relative. I live in a pretty average town and $125,000 would basically get you a very small old house that "needs works...." here is a case in point. The average selling price is around $250,000+...I would imagine that Milford is considerably higher though.

I have paid $125k for lots. You won't get a house for $125k just yet, but I have seen some foreclosures sell for $50k more.

I miss the good old days a few years ago when you couldn't find a house for under $300k in Milford.

LUVMBDiesels · #43 07-13-2009, 06:34 PM

Just did a search
1,582 listings found

under 10K!!!

I guess Hell IS better than DEEETROIT...

(for South Park fans)

here is an 'expensive' $6000 home.

http://www.realtor.com/realestateandhomes-detail/4338-Waverly-St_Detroit_MI_48238_1108141728

There are
772 other listings found that are 6K and under!

Some are $99.00 yep under a 100 bucks gets you a house and property!

On the other hand, If you have a job, here is what 500K gets you...

http://www.realtor.com/realestateandhomes-detail/1470-Iroquois-St_Detroit_MI_48214_1110406951

tankdriver · #44 07-13-2009, 06:41 PM

Quote:

Originally Posted by cmbdiesel

At that price, buy the house and strip it for copper and reusable building materials. Raze the house after you've recouped your expenses and pay tax on a vacant lot.

That is not a bad idea. Reclaimed hardwood floors from some older homes is problably worth as much as the copper.