100 $ house ?

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Meghan54

Meghan54

Lifer
Oct 18, 2009
11,684
5,228
136
alicosgun said:
hm..:colbert: now understand thnx...

how much has been sold? plase anser thnx?
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You really cannot read what's written on that page?

This property will be auctioned on Thursday, March 13 at www.Auction.com. The price displayed is the Starting Bid amount of $100.00.
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Or is comprehension your problem?

If you want to bid on it, here's the link. Notice the rules/fees/etc. associated with it, such as it being non-financeable, minimum $2,500 buyer's premium, escrow fees, etc.

http://www.auction.com/Michigan/res...|BAJ|O-445|&utm_campaign=|BUY|MI_Wayne|Mar13|
 
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AViking

AViking

Platinum Member
Sep 12, 2013
2,264
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It will probably be bid up to $500 by some sucker. That's a huge increase and probably over priced. Only buy if you can get it for less than $175.
 
AViking

AViking

Platinum Member
Sep 12, 2013
2,264
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0
It's pretty awesome that Detroit has an average real estate price of $35,000.
 
AViking

AViking

Platinum Member
Sep 12, 2013
2,264
1
0
I have family and friends outside of Detroit as well. That has nothing to do with being IN Detroit which is a complete shit hole.

Detroit is cheaper than most cities in Latin America. Just to put it in perspective.
 
V

Vdubchaos

Lifer
Nov 11, 2009
10,408
10
0
Greenman said:
I thought all of the super cheap homes in Detroit had tax liens against them?
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If I was to consider (which I would never do) I would def make sure of above.

Also take into consideration that city is in some bad financial shape, which usually means taxpayers will pay the difference....

no thanks
 
iamwiz82

iamwiz82

Lifer
Jan 10, 2001
30,772
13
81
Greenman said:
I thought all of the super cheap homes in Detroit had tax liens against them?
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A vast, vast majority have not had property taxes paid against them in a long time. I think they are hovering around 65-75 mills on housing, while the surrounding cities are anywhere from 8 to 20.

Buying property in Detroit can also be troublesome because the city doesn't have accurate records on who actually owns a lot of it.

That area isn't too bad for Detroit crimewise, to be honest.
 
J

jaedaliu

Platinum Member
Feb 25, 2005
2,670
1
81
iamwiz82 said:
A vast, vast majority have not had property taxes paid against them in a long time. I think they are hovering around 65-75 mills on housing, while the surrounding cities are anywhere from 8 to 20.

Buying property in Detroit can also be troublesome because the city doesn't have accurate records on who actually owns a lot of it.

That area isn't too bad for Detroit crimewise, to be honest.
Click to expand...

Hard to have crime if nobody is there.

I wonder what it's going to take for Detroit to recover. From what I hear in the news, many neighborhoods are empty (except the 1 or 2 families that refuse to move) and the city isn't repairing broken street lamps and are stopping garbage service because it costs too much to service 2 houses. My guess is someone (federal government grant money or something) comes out and demolishes neighborhoods and rebuilds once the local government seizes everything via eminent domain.
 
Tweak155

Tweak155

Lifer
Sep 23, 2003
11,449
264
126
Greenman said:
I thought all of the super cheap homes in Detroit had tax liens against them?
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This is my first assumption. Also they just want someone to pay taxes period, if that includes giving the house away. Some money is better than no money.
 
N

NoCreativity

Golden Member
Feb 28, 2008
1,735
62
91
iamwiz82 said:
A vast, vast majority have not had property taxes paid against them in a long time. I think they are hovering around 65-75 mills on housing, while the surrounding cities are anywhere from 8 to 20.

Buying property in Detroit can also be troublesome because the city doesn't have accurate records on who actually owns a lot of it.

That area isn't too bad for Detroit crimewise, to be honest.
Click to expand...

Surrounding areas aren't quite that cheap. More like high teens to mid 40s most falling in the 20s and 30s (based on 2012 rates).

It's also interesting that the less affluent cities surrounding Detroit have high tax rates.
 
BlitzPuppet

BlitzPuppet

Platinum Member
Feb 4, 2012
2,460
7
81
Alicos back! :D

Meghan54 said:
You really cannot read what's written on that page?

Or is comprehension your problem?
Click to expand...

Woaaaah, easy there killer

The guy reads this website/forum through google translate based on his previous threads/discussions.
 
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iamwiz82

iamwiz82

Lifer
Jan 10, 2001
30,772
13
81
NoCreativity said:
Surrounding areas aren't quite that cheap. More like high teens to mid 40s most falling in the 20s and 30s (based on 2012 rates).

It's also interesting that the less affluent cities surrounding Detroit have high tax rates.
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Hrm, I question that PDF from the state because my tax rate is listed at 33 but I am paying 19 currently, according to my city's tax records.
 
Fanatical Meat

Fanatical Meat

Lifer
Feb 4, 2009
35,862
17,403
136
Auction and look at the street it had four cars on it and a few houses appeared to not have been shoveled, I bet there are many, many vacant houses there. Although if you could buy the entire block and rent it until it becomes practical to remodel.
Honestly Detroit (the city) should buy up many of these houses and demolish them. Doing this would reduce squatters and various problems with unoccupied homes, reduce fires and prop up the land value so people could actually want to live there again.
Hell get creative with the demolition, sell people tickets to use the wrecking ball. I'd pay money to take a few swings at a house.

**missed this** CASH ONLY NO FINANCING AVAILABLE. This usually means the house is severely f'd up inside that you won't be able to occupy it. That means a construction loan to fix it then hope your fixes don't exceed the market value then you may move to a conventional mortgage.
 
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