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Detroit houses on eBay

03.30.09 | technician | In real estate, 7 mile

If you search for Detroit real estate on eBay you’ll find some crazy cheap houses for sale. It’s true that if you look at particular neighborhoods in Detroit you’ll find incredibly cheap real estate. But if you’re just a speculator looking to buy cheap property expecting to be able to flip it fast you have to consider that the property may not be inhabitable and require some investment to get it up to code. There are also may be liens against the house, maybe water bills left unpaid. There are also going to be city property taxes to consider.

On the other hand, if you’re looking for a cheap place to live for a while it might make sense for you to find a cheap house in Detroit especially if you’re a bit of a fixer-upper. You could also set up a business in the storefront at 15125 W Seven Mile Rd for less than $30,000, no liens or back taxes.

Some of the deals on eBay aren’t even for the actual house but rather just a down payment. For example one such deal is actually for: “The purchase price of this home is $22,000 with financing at $350 a month, with a 10% interest rate for 89 months.” As interest rates are pretty damn low right now paying 10% for the lifetime of the loan is just another trick. There are many of these listings and it’s clear that the current owner is a speculator who hasn’t had anybody live in these places before.

Then there’s this house: Tim Burke’s Art House on Heidelberg Street in Detroit, starting at half $1 million. As you might guess from the address it’s part of the Heidelberg Project.

“Many of my sculptures are made from metal, wood and other materials removed from demolished historical buildings throughout Detroit. This includes granite from the walls of Detroit Institute of Arts, wood timbers from the burned out Studebaker Automobile Plant, Travertine from the Detroit College of Law, Pewabic tiles from the Lucy Thurman YWCA, decorative terra-cotta embellishments from the J.L. Hudson Building and Rivera Theater. Much of the slate I use came from the roofs of various historic churches including Saint Patrick Cathedral, St. John’s-St. Luke’s, First Unitarian Church, St. Matthew’s Schoolhouse. Other materials incorporated in my are came from the Fisher Mansion in Palmer Woods, the Hiram Walker Mansion which became a part of Doctors Hospital, the Alexander Blain Clinic on Jefferson, the Historic Sibley House (circa 1847), the Detroiter Hotel to name a few.”

It’s a pretty famous house / piece of art. I’m a bit skeptical that it’s actually for sale.


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