cheap property

pjproby

http://beta.realtor.com/search/searchresults.aspx?sby=1&loc=detroit&ml=8&mxp=1000&typ=3F

okidoki987

For the price of a round of drinks you could the proud owner of 20 properties.:eek: just a shame you'll never get to use them by the looks of it.

The_Conductor

"Please contact agent for sellers agenda prior to making formal offer........"
eeeek! Most of them are down as severely fire damaged, or otherwise damaged.......

Aka buy one and have a disgruntled former owner try to burn you out of *his* old home........

okidoki987

try to burn you out of *his* old home

Looking at the pictures and descriptions, you'll find that's already happened to most of them.

brightkane

is detriot a kip?

The_Conductor

brightkane wrote: »

is detriot a kip?

Is the pope Catholic?

brightkane

"Parts of the city have abandoned and burned out shells of buildings. The city has seen increased funding to demolish abandoned properties and the homes that have been used for the production, sale, and use of illicit drugs, with drug gangs such as Young Boys Inc.

The city had faced many arsons in abandoned homes each year on Devil's Night, the evening before Halloween. The Angel's Night campaign, launched in the late 1990s, draws many volunteers to patrol the streets during Halloween week. The effort reduced arson: while there were 810 fires set in 1984, this was reduced to 442 in 1996"

Wiki.....

iMax

I wonder could you (as an Irish citizen), buy one of those & use the address (with mail forwarding natch) to open an American bank account/postal address for buying online ?

banchang

brightkane wrote: »

is detriot a kip?

This is a coincidence

Great programme on BBC2 last night about Detroit & the music which has come from there

They described that after the 'Mo' pulled out of 'Motown' ie Chrysler, Ford etc stopped production there & thousands of jobs were lost, all the white people moved out of the city, & what is left is 80% African American population, mostly unemployed, living in the city.

They showed shots of the city, & it was like a scene from 'I am Legend'

One man quoted the place as 'being like Lebanon'

These prices sound expensive....

Oracle

Yeah I caught the end of that programme about Detroit on the BBC too. It was a good documentary, I wish I'd seen it all. The houses at the top of the page look like nice homes to me, they might be in the better areas, it's hard to tell: http://en.wikipedia.org/wiki/Detroit,_Michigan

psicic

At these prices we should start a boards.ie fund to buy large chunks of Detroit - fire damaged or not.

And when we're asked why the membership of an Irish chat site owns hundreds of properties in an American city, we can ramble on about having plans for building a New Detroit City - one with shiny metal policemen and where everyone has 20 seconds to comply.

Lawdie

psicic wrote: »

At these prices we should start a boards.ie fund to buy large chunks of Detroit - fire damaged or not.

Ok, I' tired. Someone spell out the catch. I'm figureing its the "bringing the property upto..." thats the add on.

?

DingDong

psicic wrote: »

At these prices we should start a boards.ie fund to buy large chunks of Detroit - fire damaged or not.

And when we're asked why the membership of an Irish chat site owns hundreds of properties in an American city, we can ramble on about having plans for building a New Detroit City - one with shiny metal policemen and where everyone has 20 seconds to comply.

Or we could use it as a base for a boards cult

skywalker

Lawdie wrote: »

Ok, I' tired. Someone spell out the catch. I'm figureing its the "bringing the property upto..." thats the add on.

?

Im presuming its "BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS" you see on most of them. That could include anything for all you know. Lets be honest their not that desperate for the dollar, its probably costing them a few hundred a year to maintain in municiple fees.

Emerald Lass

they are not genuine prices folks - it is something a lot of estate agents (naughty ones) to get their listings put first on the page due to price. when you contact them then there is always a 'mistake' or you are told that is what bidding starts at and offers ar now in the region of $x. As an estate agent it is a pet peeve of mine and I hate when others do it.

ronbyrne2005

It's not a gimmick. House prices are that low in certain parts of America . The catches are the areas are virtually ghettos where cops won't even go, so you wont get insurance and cost of security for such properties would be huge. Also the local councils charge a property tax and other fees. You could be paying 5-10k a year in taxes,charges, insurance, security etc and would get much less in rent probably. If you could buy up large numbers of houses near better parts of detroit you may be able to make profits (in long term anyway)

ronbyrne2005

Also the houses usually require extensive refurbishment/rebuilding.

Oracle

That's true, like this one described as a "Great Investment property!" for only $100. :eek:

craichoe

ronbyrne2005 wrote: »

It's not a gimmick. House prices are that low in certain parts of America . The catches are the areas are virtually ghettos where cops won't even go, so you wont get insurance and cost of security for such properties would be huge. Also the local councils charge a property tax and other fees. You could be paying 5-10k a year in taxes,charges, insurance, security etc and would get much less in rent probably. If you could buy up large numbers of houses near better parts of detroit you may be able to make profits (in long term anyway)

So basically ... Ryanair are doing houses now

The_Conductor

craichoe wrote: »

So basically ... Ryanair are doing houses now

Pretty much- wait until you see the taxes and the terms and conditions attached to them.......

KhanTheMan

I think you might get similar prices closer to home ... in Limerick.

Saruman

Limerick is the Detroit of Ireland.... Detroit is the Armpit of America

Remember the old Robocop movies? That was set in Detroit.... even in the movies they were trying to tear it down and build "Delta City"

Gillo

Doesn't say how much delivery is???

Gillo

Saruman wrote: »

Limerick is the Detroit of Ireland.... Detroit is the Armpit of America

Remember the old Robocop movies? That was set in Detroit.... even in the movies they were trying to tear it down and build "Delta City"

Or as Billy Connolly put it, if the world ever needs an enema, that's where they're going to put it in!!

davemie

http://money.cnn.com/2008/08/20/real_estate/subprime_homes_lead_downward_charge/index.htm?eref=rss_topstories