Foreclosures at $1

[AZN_ZX2]

http://www.detnews.com/apps/pbcs.dll/article?AID=/20080813/METRO/808130360/&imw=Y

I'm not sure if this is the right section. Sorry mods. We really need a current events section.

[CraZx2ing]

While selling a home for the amount of change most people could find between their couch cushions is unusual, some abandoned homes in Detroit sell for $100; vacant lots can be purchased for $300.

"My 14-year-old son could buy a block of Detroit property," said Ann Laciura, senior servicing specialist for the Bearing Group.

I'm so going to own a block of detriot next month lol.

[AZN_ZX2]

See if it wasn't for taxes and such I'd say someone should buy a whole neighborhood and then just kick off anyone who goes on your property.

I wouldn't mind having an empty lot to drive the ZX2 around in though

[JonsZX2SR]

A savvy business person with funds could buy much of all of an entire block, raze all the buildings, have zoning changed to commercial/light industrial and wait for 10 years or so. Short term they would need to have funds to ride things out, but long term they could make a lot of money.

Depressed neighborhoods are hard build into business zones, but if you get rid of the neighborhood, the locations often become prime locations for industrial use because businesses prefer to be away from adjacent homes, especially if those are in depressed areas.

[inis]

A house across the street from us went for 31000 including auction fees, its a 200k home with appraisal papers (only 4 yrs old) , our 150k house we got for 75k , put around 30k in remodeling and we now have a 200k home.

Stuff is crazy , matter of fact I'm looking at buying a house for rental. Needs a/c, furnace and some kitchen cabinets... 17k , its worth around 60k. I'm mainly interested in renting it out to section 8.

Good time to start purchasing! Thats for sure.

[2001zincsr]

doesnt surprise me, I drove through some of the neighborhoods surrounding Detroit last weekend and they were ghost towns. I felt unsafe during the middle of the day. It would be nice to see an area like that get cleaned up and become productive again.

[CraZx2ing]

yah i'm looking for a 2/1 going for around 50k in a decent area. If i find one i'll probably snatch it up for a rental and a future sale.

How do you guys find houses below that... that's insane.

[LunchBoxZX2]

Not so sure that I'd want to buy property in Detroit, but it is a good time to be buying...

[Buster]

Not so sure that I'd want to buy property in Detroit, but it is a good time to be buying...

I wouldn't step foot in Detroit. One of the most violent, poorest cities in the USA.

They're also already setting up SWAT teams and riot units for post-election chaos they're expecting. :eeek:

Not a seller's market, I'd bet. :D

[CraZx2ing]

Land is land. Buy up a few blocks of Detroit for $1.50. Wait 30 years. See what happens.

[Buster]

^

You can sell it for $0.39. :rofl:

[ImCrazy]

I'm about 45 mins south of detriot, I hate the place UT did some recuiting up there this year and man we got some ghetto ass punks on campus this year. I wouldn't go to detriot unless I had to and then id want an m16

[Hypnose Zx2]

wow that fucking crazy

[Escort Pimp]

You guys are pussies, Flint is way worse than Detriot

[Loser47]

ive heard stories of flint mitch again i hear its pretty bad