Discuss Detroit Archives - Beginning January 2007 Detroit Real Estate Previous Next
Top of pageBottom of page

Eastsideinvestor
Member
Username: Eastsideinvestor

Post Number: 5
Registered: 03-2007
Posted on Monday, March 26, 2007 - 10:57 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Is there anyone investing in the foreclosures here. What part of town?
Top of pageBottom of page

Urbanoutdoors
Member
Username: Urbanoutdoors

Post Number: 154
Registered: 11-2005
Posted on Monday, March 26, 2007 - 11:09 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I am possibly going to in North rosedale because the one I was looking at in Corktown fell through
Top of pageBottom of page

Downtown_remix
Member
Username: Downtown_remix

Post Number: 76
Registered: 03-2007
Posted on Monday, March 26, 2007 - 11:19 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

NORTH WOODWARD,ON TAYLOR 3 BLOCKS SOUTH OF BOSTON,2300 SQ,$51,000
Top of pageBottom of page

Mayor_sekou
Member
Username: Mayor_sekou

Post Number: 627
Registered: 09-2006
Posted on Monday, March 26, 2007 - 11:47 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

There is a house next to my parents in the U of D district that has been foreclosed, may parents fear renters will move in and drive property values down. In that neighborhood there must be at least 50 foreclosed homes selling under value. You should go to a site like realtrac.com if you want to get a detailed list of the city.
Top of pageBottom of page

Rhymeswithrawk
Member
Username: Rhymeswithrawk

Post Number: 545
Registered: 11-2005
Posted on Tuesday, March 27, 2007 - 3:30 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Urban, not sure if you're looking for a foreclosed home specifically or not, but there are two homes through O'Connor Realty. You can check them out on the Web site, www.oconnordetroit.com. I'm going to take a look at them Wednesday. I can let you know if they're worth a look and/or even take pictures for you if you'd like. I'm looking at the SW side, but I'm not ruling out a fine home in Corktown. You can have my sloppy seconds. :-)
Top of pageBottom of page

Dougw
Member
Username: Dougw

Post Number: 1634
Registered: 11-2003
Posted on Tuesday, March 27, 2007 - 12:28 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Needless to say, now is the time to buy. There are huge numbers of foreclosures out there right now, but now that the subprime lenders have tightened up their rules, they will eventually dry up (though probably not for at least a year or so).
Top of pageBottom of page

Exmotowner
Member
Username: Exmotowner

Post Number: 134
Registered: 06-2005
Posted on Wednesday, March 28, 2007 - 8:28 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Detroit is the foreclosure capital of the country. Now is a good time for speculators with some cash!
Top of pageBottom of page

Barnesfoto
Member
Username: Barnesfoto

Post Number: 3272
Registered: 10-2003
Posted on Wednesday, March 28, 2007 - 9:29 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Rymes: One of those O'Connor foreclosures is a Malcomson and Higganbotthom, and good neighbors come with it.
Foreclosures are on the rise in a number of places, not just Detroit...Fall 2007 would be a better time to buy, I think.
Top of pageBottom of page

Brandon48202
Member
Username: Brandon48202

Post Number: 160
Registered: 12-2004
Posted on Wednesday, March 28, 2007 - 1:04 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Some good news for Detroit's housing market- the sale of 1731 SEMINOLE ST was closed on March 22. Sale price: $590,000.




seminole
Top of pageBottom of page

Kpm
Member
Username: Kpm

Post Number: 34
Registered: 08-2005
Posted on Wednesday, March 28, 2007 - 2:24 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Brandon -- wasn't that house originally listed for over $1M?

Though, I'm glad to hear it sold.
Top of pageBottom of page

Dougw
Member
Username: Dougw

Post Number: 1637
Registered: 11-2003
Posted on Wednesday, March 28, 2007 - 2:53 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

It wasn't that high, the original price was something like $800K. $590K sounds more like its true market value. Glad to see it sell. I see the http://1731seminole.com is still up for now, though.
Top of pageBottom of page

Kpm
Member
Username: Kpm

Post Number: 35
Registered: 08-2005
Posted on Wednesday, March 28, 2007 - 3:09 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

OK, found it, this thread mentions JW's home was priced above $900K.

https://www.atdetroit.net/forum/mes sages/76017/79922.html?1156261 606
Top of pageBottom of page

Gdub
Member
Username: Gdub

Post Number: 1088
Registered: 10-2003
Posted on Wednesday, March 28, 2007 - 3:43 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

That's a fair price for 1731 Seminole. Not much more than what Jack paid for it, if I recall. Now it's got some rock n roll provenance, and probably a few updates. And a couple of Detroit agents can eat this month.
Top of pageBottom of page

321brian
Member
Username: 321brian

Post Number: 344
Registered: 02-2006
Posted on Wednesday, March 28, 2007 - 4:07 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Originally listed for $930,000 in August.

Listed by an agent in Milford and sold by an agent in Livonia. No Detroit agents eating steak this week.
Top of pageBottom of page

Zephyrprocess
Member
Username: Zephyrprocess

Post Number: 305
Registered: 08-2006
Posted on Wednesday, March 28, 2007 - 4:40 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

quote:

One of those O'Connor foreclosures is a Malcomson and Higganbotthom

Which one, might I ask?
Top of pageBottom of page

Urbanoutdoors
Member
Username: Urbanoutdoors

Post Number: 158
Registered: 11-2005
Posted on Wednesday, March 28, 2007 - 10:49 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Thanks for the offer, I am frustrated though I have not found out what the taxes would be exactly but I was looking at a house in Rosedale which I know has some of the highest taxes in the city but I cannot believe how the taxes make an affordable house less affordable. For a house that is listed at 117,000 it would make my payment over 1400 a month that is So frickin crazy! I know the area was supposed to get a tax reduction but I can't find out an exact percentage of reduction. Also property Values in RDP have sunk very rapidly in the past year so it is a great time to buy but also a risk when the house needs 25000 in work.
Top of pageBottom of page

Urbanoutdoors
Member
Username: Urbanoutdoors

Post Number: 159
Registered: 11-2005
Posted on Wednesday, March 28, 2007 - 10:50 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Good news on J dubs house although it is almost a 40 percent drop in order to sell it!
Top of pageBottom of page

Kimistree
Member
Username: Kimistree

Post Number: 10
Registered: 01-2004
Posted on Wednesday, March 28, 2007 - 10:58 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

The tax reduction is about 20 percent. You would pay 52 mils instead of 67 mils.

Add Your Message Here
Posting is currently disabled in this topic. Contact your discussion moderator for more information.