Blazed1979 said: »
I'd take dublin. Wasn't trying to compare them in anything other than wealth. Dubai, AD and Doha are just insane wealth wise.
my bad
Detroit Property Sales
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Detroit Property sales
my bad Blazed1979 said: » Detroit doesn't seem like it can go any further down. Oh I see, you have never been there... Amen
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Blazed1979 said: » I'd take dublin. Wasn't trying to compare them in anything other than wealth. Dubai, AD and Doha are just insane wealth wise. Only Detroit and cleveland?!? Obviously you have never been to Gary, IN sir!
Blazed1979 said: » Anyone here know anything about Detroit? Looking for info on what the worst/best areas are. There are some crazy sales going on, properties for as low as 50$ lol. I live in the burbs a bit south of 11 Mile Road; my mom lives in the city and I've lived around Metro for a good part of my life. My 1200 sqft bungalow was appraised at $160k when I bought it about 8 months ago, for reference, and I live about a 5 minute bike ride from this lovely little downtown. The $50 properties are $50 because they're saddled with a ton of unpaid property taxes and other liabilities you'd be responsible for if you bought them. The best-case scenario with The Bankruptcy is that it wipes all this away. Now taking questions about Detroit! ScaevolaBahamut said: » Blazed1979 said: » Anyone here know anything about Detroit? Looking for info on what the worst/best areas are. There are some crazy sales going on, properties for as low as 50$ lol. I live in the burbs a bit south of 11 Mile Road; my mom lives in the city and I've lived around Metro for a good part of my life. My 1200 sqft bungalow was appraised at $160k when I bought it about 8 months ago, for reference, and I live about a 5 minute bike ride from this lovely little downtown. The $50 properties are $50 because they're saddled with a ton of unpaid property taxes and other liabilities you'd be responsible for if you bought them. The best-case scenario with The Bankruptcy is that it wipes all this away. Now taking questions about Detroit!
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When the Lions win the Super Bowl and Tim Allen stops complaining about not being able to say the N-word.
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Siren.Flavin said: » Only Detroit and cleveland?!? Obviously you have never been to Gary, IN sir! Gary, IN is a myth!
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I would not move into Detroit without bringing a small arsenal of firearms.
Detroit is not categorically different from other major cities in terms of crime; it's just that the dangerous parts are MORE dangerous given the lack of police presence. There is a lot of money and hipsters in DownMidCorktown and surrounding suburbs like Grosse Pointe that simply could not be there if Detroit were as dangerous
Also, to correct myself, the outstanding liabilities on those properties are being paid by the banks that repossessed them and you wouldn't be walking in to any liabilities; that they want to STOP paying the property taxes is the main reason the banks sell the houses so cheaply. There's a certain buy-low-sell-high logic to buying these properties, which is what Dan Gilbert's banking on, but those of us who are not billionaires would be making a huge gamble on the complete rebirth of Detroit's neighborhoods that would stick us with huge taxes on worthless properties we ourselves could never get rid of, either. I don't know how accurate the number is given I heard it on the daily show but they were saying police response time was 58 minutes in detroit... then they joked that you can get a pizza from domino's faster and they ordered a pizza and two police officers lol...
they can have half of our cops. it's like germany circa 1940 over here, & there's not a *** thing going on.
edit* that reads a little confusing. It's a police state here for no reason at all.
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We need some nation building over in Detroit.
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Siren.Mosin said: » they can have half of our cops. it's like germany circa 1940 over here.... Nonsense. The gestapo knocked. ScaevolaBahamut said: » When the Lions win the Super Bowl and Tim Allen stops complaining about not being able to say the N-word.
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Quetzacoatl said: » ScaevolaBahamut said: » When the Lions win the Super Bowl and Tim Allen stops complaining about not being able to say the N-word. It sounds like when the Rangers lost to the Giants. /consoling pat We share your sadness. ScaevolaBahamut said: » The $50 properties are $50 because they're saddled with a ton of unpaid property taxes and other liabilities you'd be responsible for if you bought them.... ScaevolaBahamut said: » Also, to correct myself, the outstanding liabilities on those properties are being paid by the banks that repossessed them and you wouldn't be walking in to any liabilities; that they want to STOP paying the property taxes is the main reason the banks sell the houses so cheaply.... Sorry, the $50 properties are not selling at $50 because the lot is worth less than the cost of bulldozing the remnant of a house that is sitting on it. A fast talker can probably get the bank that owns it to give it away for free. It would still be too expensive. Think about it. There are businesses that own bulldozers, trucks, and those BIG drop boxes (dumpsters). They could clear a lot at cost plus disposal fees. They aren't purchasing those $50 properties. There are reasons that have nothing to do with crime. Quetzacoatl said: » ScaevolaBahamut said: » When the Lions win the Super Bowl and Tim Allen stops complaining about not being able to say the N-word. Fun fact... A Rod earns more than the Houston Astros team combined lol..
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Garuda.Chanti said: » Sorry, the $50 properties are not selling at $50 because the lot is worth less than the cost of bulldozing the remnant of a house that is sitting on it. I'm sorry; I didn't know we had somebody from the Wayne County Assessor's Office in this thread, here to illuminate our discussion with exactly how much these properties are worth. Nobody knows what they are worth. They are worth more than $50. To somebody interested in a parcel of land in a major American city that serves as a cultural and potential economic hub for a metro area of 4 million people, they are potentially worth more than the $8,000 pittance it would take to bulldoze and clear the property. The problem is the $2-3k/year property tax bill you're responsible for until the turnaround you're hoping for comes at which point you flip it, multiplied by the number of properties you're buying up to do this with. Nobody has any idea when it would happen, or even (this is critically important) if it would happen for these outlying neighborhoods even if the city itself turns around. A revitalized Detroit will be more condensed and everyone agrees the critical question is, "what happens to everything between I-94 and 8 Mile?" |
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