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(Daily Mail)   House in Detroit, on sale for $1, is still unsold after 519 days. Apparently there is a Detroit real estate agent doing well enough to pass up a 7 cent commission   ( dailymail.co.uk) divider line
    More: Followup, Detroit, Zillow  
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9781 clicks; posted to Main » on 01 Aug 2013 at 8:51 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-08-01 08:47:53 AM  
img.weburbanist.com

"Gently used fixer-upper"
 
2013-08-01 08:58:15 AM  
It's not a crack house, it's a crack HOME.
 
2013-08-01 09:09:02 AM  
Fark: it's the governors mansion.
 
2013-08-01 09:10:14 AM  
encrypted-tbn3.gstatic.com
 
2013-08-01 09:12:01 AM  
I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.

I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

[ohokay.jpg]
 
2013-08-01 09:14:12 AM  

Burr: [encrypted-tbn3.gstatic.com image 276x183]


Came for this.  Apparently he wouldn't even touch that for a dollar.
 
2013-08-01 09:16:41 AM  
Still too much
 
2013-08-01 09:19:19 AM  
Rest assured, that house might worth more than a dollar....in scrap. I'm sure it's already been stripped of wiring and plumbing. Just raze the damn thing and be done with it.

Even if you tried to rehab the house, the first night you start putting valuable reno supplies in it...the stuff will be gone the next day.

/Metro Detroiter
//notice i said Metro
 
2013-08-01 09:19:26 AM  
Sure the house is a dollar but it's going to cost $100,000 to fix it up.
 
2013-08-01 09:21:39 AM  

HKWolf: Rest assured, that house might worth more than a dollar....in scrap. I'm sure it's already been stripped of wiring and plumbing. Just raze the damn thing and be done with it.

Even if you tried to rehab the house, the first night you start putting valuable reno supplies in it...the stuff will be gone the next day.

/Metro Detroiter
//notice i said Metro


Yeah, if you look online they're all demo houses. You're basically buying the lot.

Still dude, a dollar. You can't even get legit mac n' cheese for a dollar.
 
2013-08-01 09:22:09 AM  
So, why aren't they just demolishing these worthless properties?
 
2013-08-01 09:22:32 AM  

megarian: I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?


I think you and your town need to go around and start pulling down these crapshack homes and  the land back to the City. Maybe find some way of getting people to clear out of a large region of continual property so that you can pull up the street grid and take down the electrical poles. Maybe plant some trees?
 
2013-08-01 09:23:28 AM  

megarian: HKWolf: Rest assured, that house might worth more than a dollar....in scrap. I'm sure it's already been stripped of wiring and plumbing. Just raze the damn thing and be done with it.

Even if you tried to rehab the house, the first night you start putting valuable reno supplies in it...the stuff will be gone the next day.

/Metro Detroiter
//notice i said Metro

Yeah, if you look online they're all demo houses. You're basically buying the lot.

Still dude, a dollar. You can't even get legit mac n' cheese for a dollar.


You may have the lot for a dollar, but if you put anything on it that is worth more than $5, it will either get torched, stolen, or both.
 
2013-08-01 09:23:29 AM  

incrdbil: So, why aren't they just demolishing these worthless properties?


$$$$

We can't even get the city to fix the street lights.
 
2013-08-01 09:27:21 AM  

kidgenius: megarian: HKWolf: Rest assured, that house might worth more than a dollar....in scrap. I'm sure it's already been stripped of wiring and plumbing. Just raze the damn thing and be done with it.

Even if you tried to rehab the house, the first night you start putting valuable reno supplies in it...the stuff will be gone the next day.

/Metro Detroiter
//notice i said Metro

Yeah, if you look online they're all demo houses. You're basically buying the lot.

Still dude, a dollar. You can't even get legit mac n' cheese for a dollar.

You may have the lot for a dollar, but if you put anything on it that is worth more than $5, it will either get torched, stolen, or both.


Probably.

No one has ever tried to break in my house yet (that I know of). I haven't had any problems, and I'm having a bit of ongoing renovation work done.

Don't leave ANYTHING outside, though. Not a flowerpot. Not a lawn gnome. Nothing. That shiat WILL be gone overnight.
 
2013-08-01 09:30:53 AM  
I don't know why the government just doesn't play Farmville with these areas. No one is ever going to live there again are they?
 
2013-08-01 09:33:08 AM  

megarian: incrdbil: So, why aren't they just demolishing these worthless properties?


megarian: incrdbil: So, why aren't they just demolishing these worthless properties?

$$$$

We can't even get the city to fix the street lights.


Even burning is goign to cost--presence of the fire department I suppose.  And the legal challenges ot evicting a neighborhood and razing it ..

::shrugs:: Beyond hope. Its like a festering would that won't heal because no one can gather the will or authority to amuptate.
 
2013-08-01 09:33:24 AM  

rubi_con_man: megarian: I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

I think you and your town need to go around and start pulling down these crapshack homes and  the land back to the City. Maybe find some way of getting people to clear out of a large region of continual property so that you can pull up the street grid and take down the electrical poles. Maybe plant some trees?


You're right. There are a few community organizations (and a random group of men that go around and mows crappy properties and "parks") that try to help, but damn. There's a lot of crap. I belong to a tiny organization that plants gardens on useless property (getting the OK to do this is a biatch). You can't just demo a house/light pole on your own. That's illegal.

Not that the cops would show up. Or notice.
 
2013-08-01 09:39:15 AM  
Most of these homes have tens of thousands in back taxes due to the city, to be assumed by the new owner, unless they've changed some laws recently.
 
2013-08-01 09:41:18 AM  

HKWolf


Rest assured, that house might worth more than a dollar....in scrap. I'm sure it's already been stripped of wiring and plumbing. Just raze the damn thing and be done with it.


Not as scrap per se, but it might be worth a bit in things like door hardware (hinges, knobs, locks), moulding, fireplace mantels, etc - decorative items that are in demand as antiques but would hold no interest for Crackheads Local 716.

Speaking of which, that home might have been built with galvanized plumbing rather than with copper, so the pipes could still be there if the place was never upgraded.
 
db2
2013-08-01 09:43:10 AM  
So how much in back taxes/liens are you also getting for that dollar?
 
2013-08-01 09:44:59 AM  

To The Escape Zeppelin!: Sure the house is a dollar but it's going to cost $100,000 to fix it up.


megarian: I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.



Problem is, from what I understand, you might be buying the house for $1 but then you're going to pay 10s if not 100s of dollars in unpaid back taxes or other such fees that were put on the property but never paid by the previous "owners."
If Detroit hadn't just declared bankruptcy, I might just move up there, buy up a shtton of property and start farming. 'Cause why the f not.
 
2013-08-01 09:45:36 AM  
Can I buy like 500 of these lots and sit on them for 30 years while all the houses fall down on the long shot someone revitalizes the neighborhood?

I'm guessing there's some reason why that won't work or someone would have done it already.
 
2013-08-01 09:46:12 AM  

megarian: Not that the cops would show up.


There are still cops in Detroit? ... That are being paid? Are you sure?
 
2013-08-01 09:48:24 AM  

waterrockets: Most of these homes have tens of thousands in back taxes due to the city, to be assumed by the new owner, unless they've changed some laws recently.


db2: So how much in back taxes/liens are you also getting for that dollar?

 
2013-08-01 09:49:05 AM  

Kirzania: megarian: Not that the cops would show up.

There are still cops in Detroit? ... That are being paid? Are you sure?


There's like, one. I think they just keep him around when First 48 is filming, though.
 
2013-08-01 09:52:50 AM  

db2: So how much in back taxes/liens are you also getting for that dollar?


^and there's the catch^
 
2013-08-01 09:53:34 AM  
Unless there's some kind of catch in taxes, back taxes, or something like that, I'd consider doing it just for the property.

Could be a day when all that land it worth a lot more than the dollar and yearly taxes on the land would be...
 
2013-08-01 09:55:03 AM  

KellyX: Could be a day when all that land it worth a lot more than the dollar and yearly taxes on the land would be...


I'll take the over on that.
 
2013-08-01 10:02:17 AM  
It may only be a buck, but I bet the taxes are 20k a year. Detroit has some seriously high property taxes.
 
2013-08-01 10:06:46 AM  
I used to dream about moving to Detroit, buying all these $100 houses, leveling them and then just sitting back waiting for the land to become valuable again. Then the whole Kelo vs New London thing happened. If you own a bunch of land in Detroit, the government's just going to take it and say "it's for the greater good".
 
2013-08-01 10:10:30 AM  
Those of you thinking it would be a good idea to buy the property of either investment or farming purposes, do keep in mind a few things:

The land is not necessarily "clean" - disposal habits throughout the Detroit area have been less than stellar the past 50+ years.

The cost of demolition might be higher then expected.  From what I remember, Detroit Water charges like $1500 for a disconnect.  A demo permit from the city also costs a few hundred and electric/gas disconnect is probably not cheap either.  If you are going to do it right, you have to take everything out including the foundation (condition unknown).  Gotta keep it safe so that the few kids that are left in that area don't hurt themselves.  Then good luck getting a realistic appraisal of the property from either the city or the county (which is also hurting for money).  With the city in bankruptcy court, no adjustments will be possible until the bankruptcy is discharged.

Good luck!
 
2013-08-01 10:13:19 AM  

To The Escape Zeppelin!: Sure the house is a dollar but it's going to cost $100,000 to fix it up.


you'd still be ahead.  the only problem, the house is in DETROIT!
 
2013-08-01 10:14:35 AM  
The problem is those houses are loaded with lead paint and asbestos so you can't just rent some dumpsters and a track hoe and have it hauled off to the local landfill.

In the meantime if you own it and some crack head breaks in and injures themselves you are liable for it.  And no insurance company would even think of insuring it.

I wanted to buy the house next to mine for basically nothing and tear it down but some 'investor' saw profit in house that is falling apart and is filled with mold.  6 years later it has been empty for all but a few months until the renters fled.  The last I talked to him he thought he got a good deal on it.
 
2013-08-01 10:15:20 AM  

you have pee hands: Can I buy like 500 of these lots and sit on them for 30 years while all the houses fall down on the long shot someone revitalizes the neighborhood?  I'm guessing there's some reason why that won't work or someone would have done it already.


Actually, Matty Maroun (owner of the Ambassador Bridge) has been doing exactly that for years, but with enormous commercial properties instead of small, crappy homes. He owns numerous buildings around the city, many of them historic, all of them in worse shape than when he paid pennies on the dollar for them, and none of them scheduled for any sort of repair until the Cancer Fairy finally pays the old bastard a long overdue visit.

Seriously, the day that foul old wretch dies will be the beginning of Detroit's renaissance.
 
2013-08-01 10:20:10 AM  

incrdbil: So, why aren't they just demolishing these worthless properties?


Cuz ya can't do it for free...
 
2013-08-01 10:27:12 AM  

megarian: I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.

I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

[ohokay.jpg]


Yes, yes it is. Are there empty lots around your home?
I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.
 
2013-08-01 10:32:44 AM  
House - $1
Back Taxes Owed At Closing - $5,000.00

Until Dan Gilbert single-handedly revitalizes the city, these properties will NEVER sell.
 
2013-08-01 10:33:10 AM  

db2: So how much in back taxes/liens are you also getting for that dollar?


Per my skimming of TFA, $2600.

/still not worth it
 
2013-08-01 10:35:04 AM  

katerbug72: megarian: I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.

I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

[ohokay.jpg]

Yes, yes it is. Are there empty lots around your home?
I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.


Yeah, there's probably 3 on my block. But for some reason the people that live on my street are actually trying to make their yards and homes (at least the outside) nice. No good grocery stores. We have a Meijer 10 minutes away. And it's awesome.

There's an amazing Cuban restaurant on Library street. Holy shiat. Amazing. I think it's called Vicente's.
 
2013-08-01 10:39:38 AM  

megarian: katerbug72: megarian: I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.

I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

[ohokay.jpg]

Yes, yes it is. Are there empty lots around your home?
I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.

Yeah, there's probably 3 on my block. But for some reason the people that live on my street are actually trying to make their yards and homes (at least the outside) nice. No good grocery stores. We have a Meijer 10 minutes away. And it's awesome.

There's an amazing Cuban restaurant on Library street. Holy shiat. Amazing. I think it's called Vicente's.


We do enjoy coming over there to eat. Mexicantown usually, even though the neighbourhood sort of freaks me out. We'll have to check out the Cuban place sometime. I love Cuban food.
 
2013-08-01 10:42:15 AM  

megarian: katerbug72: megarian: I've been telling you guys every damn Detroit thread that there are "homes" for a dollar around here.

I still don't have many neighbors, so WTF?

Is it the whole Detroit thing? It is, isn't it?

[ohokay.jpg]

Yes, yes it is. Are there empty lots around your home?
I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.

Yeah, there's probably 3 on my block. But for some reason the people that live on my street are actually trying to make their yards and homes (at least the outside) nice. No good grocery stores. We have a Meijer 10 minutes away. And it's awesome.

There's an amazing Cuban restaurant on Library street. Holy shiat. Amazing. I think it's called Vicente's.


Oh, and we also come over for Detroit Popcorn.
 
2013-08-01 10:45:02 AM  
Stuff so crappy that even Les wouldn't buy.

ibankcoin.com
 
2013-08-01 10:52:59 AM  

TheGreatGazoo: I wanted to buy the house next to mine for basically nothing and tear it down but some 'investor' saw profit in house that is falling apart and is filled with mold. 6 years later it has been empty for all but a few months until the renters fled. The last I talked to him he thought he got a good deal on it.


you in Clayton co.?  not being snarky, just curious where you are OTP.  I'm in Fayette and we've actually seen a nice uptick in sales recently in my neighborhood.  (unincorporated, not PTC)
 
2013-08-01 11:19:01 AM  
Drew should take some cash out of his Total Fark account and buy up a bunch of these houses, then use them for some epic Fark Parties. Or he could become an evil, monocle wearing slumlord who takes over Detroit and renames it Farkistan.
 
2013-08-01 11:30:50 AM  

incrdbil: So, why aren't they just demolishing these worthless properties?


Actually, someone is trying to do that: http://www.freep.com/article/20130707/BUSINESS06/307070057/Bill-Pulte - IV-Detroit-Blight-Authority-Pulte-Capital-Partners
 
2013-08-01 11:48:07 AM  

you have pee hands: Can I buy like 500 of these lots and sit on them for 30 years while all the houses fall down on the long shot someone revitalizes the neighborhood?

I'm guessing there's some reason why that won't work or someone would have done it already.


The city probably values the property at a lot more than $1 for property tax purposes. You'll also need to pay a private security firm to do regular sweeps to get rid of squatters and crack dens.
 
2013-08-01 11:58:06 AM  
katerbug72:
I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.

That is true.  People who live in the city subsist only on what they can purchase at liquor or party stores.
 
2013-08-01 12:17:50 PM  

SmokinTrees: House - $1
Back Taxes Owed At Closing - $5,000.00


Cost to rebuild into a viable home = ~$100k
Final house market value = ~$60k
//sounds like a bad investment
 
2013-08-01 12:19:49 PM  

katerbug72: I live about a half hour from the border in Canada, I only go to Detroit for hockey, baseball, Target, Meijer and Mexican food. Well, I guess Target and Meijer are the burbs. I heard there are no grocery stores in Detroit proper.


A Meijer just opened on the Detroit side of 8 mile last week.  There's a Whole Foods in midtown now, too.
 
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