  Urbanoutdoors Member Username: Urbanoutdoors Post Number: 81 Registered: 11-2005 |
I was looking on realestateone.com at houses around boston edison and I found a huge disparity between the houses in Boston Edison and the houses 2 blocks outside of the historic district. 670 boston is going for 1.2 mill and 2 blocks away on calvert a 1,250 square foot bungalow is going for 9,900 dollars. I love detroits historic districts however I find it Ironic that you could buy over 120 houses for the price of 1 in that close of a proximity. | |||
Wilus1mj Member Username: Wilus1mj Post Number: 154 Registered: 05-2005 |
Is the 9,000 house falling down?...then you're just buying land. | |||
Fnemecek Member Username: Fnemecek Post Number: 2124 Registered: 12-2004 |
Jack White's house is in Indian Village. | |||
Dan Member Username: Dan Post Number: 1323 Registered: 10-2003 |
Heeee, I thought of that, and deleted the post before you responded. | |||
Magnasco Member Username: Magnasco Post Number: 186 Registered: 10-2003 |
And at this point "going for" doesn't equal someone paying that much. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 84 Registered: 11-2005 |
Well that and the fact that if a neighborhood doesn't have a historic designation it seams to fall off the face of the city. | |||
Charlottepaul Member Username: Charlottepaul Post Number: 64 Registered: 10-2006 |
Also, and importantly, the houses and lot sizes in Boston edison are much much larger. Could be another reason for the disparity. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 85 Registered: 11-2005 |
well yes 670 boston is over 13000 square feet and on a huge lot. Still why is nothing done to the neighborhoods around the historic districts to make sure the decline is not so great in such a short area. | |||
Bussey Member Username: Bussey Post Number: 389 Registered: 12-2003 |
Well we live in this thing called a Free Market Economy so.... | |||
Supersport Member Username: Supersport Post Number: 10922 Registered: 10-2003 |
What do you propose? The city has lost over 1 million people, population decline apparently still hasn't bottomed out. Do you feel it's the city's responsibility to stabilize a neighborhood when houses sit vacant? If so, how? | |||
Jams Member Username: Jams Post Number: 4282 Registered: 10-2003 |
I've considered a couple of homes just north of BE. The price was good but the barbed wire fences have given me pause. | |||
Wilus1mj Member Username: Wilus1mj Post Number: 155 Registered: 05-2005 |
Just put up industrial security fencing with the money you save living 2 blocks away from BE. | |||
Danindc Member Username: Danindc Post Number: 1940 Registered: 10-2003 |
It's not just a Detroit thing, believe-you-me. Best thing you can hope for is improving the already-decent areas, and stabiliziing adjacent blocks, and move outward from there. | |||
Goat Member Username: Goat Post Number: 9006 Registered: 10-2003 |
^^^But it does take someone to be the first to do it. Think of how good you can feel if you are the catalyst for the regeneration of a neighbourhood! | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 86 Registered: 11-2005 |
I propose that there be more of a CDC/Nonprofit effort to keep surrounding areas from crumbling thus preserving the area to a greater degree than it is now. with a little of the money from the BE area being donated to a non profit, the results could surprise people. I do not mean that it will be a glorious historic district but it would be a much different neighborhood than one that is completely ignored. | |||
Dougw Member Username: Dougw Post Number: 1454 Registered: 11-2003 |
Sounds good to me. Get to work. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 88 Registered: 11-2005 |
A good example of a local cdc that is making things happen would be the one around Mr. Fofos they took control of that building rehabilitated it and now are putting Fofos in there as a tennant and they cleaned upo the neighborhood. I personally am trying to start one up in another area, I just am in the beginning stages figuring out if there are any other nonprofits working in that area. | |||
Magnasco Member Username: Magnasco Post Number: 191 Registered: 10-2003 |
There is enough work right now in just keeping the inner neighbordhood areas from crumbling, much less the outer ones, with the Neighborhood NEZ being an example. And btw there are great neighborhoods that are self sustaining without being historic, with East English village being one. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 89 Registered: 11-2005 |
true but the fall off is significant once you venture out of the really good detroit neighborhoods. Boston edison has one of the hardest times sustaining itself mainly due to the fact that the surrounding areas have declined so much if the outer neighborhood was in better condition there would be less work that would need to be done in BE. | |||
Chub Member Username: Chub Post Number: 433 Registered: 11-2003 |
Add to that the fact that a good number of people who live the Boston-Edison district don't actually make enough money to keep up the huge houses they live in. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 90 Registered: 11-2005 |
Good point Chub | |||
Barnesfoto Member Username: Barnesfoto Post Number: 2801 Registered: 10-2003 |
a good place for someone who likes BE but can't afford the monster houses would be the two streets that I consider "buffers" i.e. Glynn Ct and Atkinson. Beyond those streets it looks a bit dicey, although I have seen some renovated homes on streets further north. I Looked at a Hud house in 1995 on Atkinson, it sold for 15k back then, 44k a year or so ago, doesn't look like much work was done on it in those ten years. http://www.williamsauction.com /auction_detail.php?atype=r&id =2163 | |||
Focusonthed Member Username: Focusonthed Post Number: 661 Registered: 02-2006 |
That is one butt-ass ugly paint job. | |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 91 Registered: 11-2005 |
Its not the worst house I have seen in the city. 96 Calvert St Detroit, MI 48202 $ 9,900 3 Bedrooms, 1 Full Bath, 1 Half Bath Year Built: 1910 Possession: IMMED Subdivision: Voigt Park Sub (plats) County: Wayne Approx. Square Footage: 1,250 School District: Detroit Taxes: $695 Dining Room: 11x11 Living Room: 20x12 Kitchen: 14x8 Master Bedroom 1: 19x12 Bedroom 2: 12x11 Bedroom 3: 11x9 Library: 11x8 Lot Dimensions: 40 X 124
| |||
Urbanoutdoors Member Username: Urbanoutdoors Post Number: 92 Registered: 11-2005 |
and this is probably a steal at 1.2 mill for a fisher mansion but I don't think the value of this one has to go down. Just the surrounding area go up.
| |||
Jimaz Member Username: Jimaz Post Number: 1089 Registered: 12-2005 |
Those jpegs aren't coming through for me. Try the \image{Text description} format? | |||
Cman710 Member Username: Cman710 Post Number: 29 Registered: 07-2006 |
That $1.2 million mansion should be a steal. Think about it. You are getting a pretty unbelievable, historic mansion on a huge piece of property, on a gorgeous block. If you picked up that house and put it in ritzy areas in any other city in the country, it would be worth at least ten times what it is selling for now. (Consider how little you would get in the New York City metro area for $1.2 million!) Unfortunately, since the surrounding area besides the immediate few blocks is not very good and crime is generally high, that dramatically brings down the value of the house. After all, if you can afford to furnish a house like that, you will have enough valuables in it that you are going to have to pay private security guards, or at least get some good guard dogs and a very expensive alarm system. If I had the money, I would still consider buying that house. It's not everyday you can get a mansion like that for so little money. Unfortunately, I just finished graduate school and have lots of debt, though, so that's not going to happen! | |||
Gistok Member Username: Gistok Post Number: 3156 Registered: 08-2004 |
Its funny how you mention Boston-Edison. But if you venture too far away from the 3 streets that make up Indian Village (but not by the West Village area), you encounter a similar scenario. Many of the nearby streets farther east are diamonds in the rough (to say the least). | |||
Charlottepaul Member Username: Charlottepaul Post Number: 67 Registered: 10-2006 |
yeah, the Indian Village area is even more of in interesting case on this issue. West Village def. feeds off of the popularity of Indian Village, however, starkly different is East Village on the other side which for some reasons has not been able to do so. There are new homes in East Village but it is a slow start. | |||
Magnasco Member Username: Magnasco Post Number: 199 Registered: 10-2003 |
Adding IV to the list is starting to point out that this is not isolated. Add Woodbridge to that list. The point is that they are all relatively small areas of nice homes with the surrounding neighborhoods struggling. The question is how do we support the whole of the city? You are right in that the $1.2 million dollar is a steal, if it were somewhere else, but its not. It's value is tied to the surrounding neighborhood's value. So to make this work we need to not only make sure the BE area is doing well, but that the surrounding neighborhoods are doing well. Also keep in mind that it is in the middle of a market that is still losing value, like most american cities, it's just that Southeast Detroit is moving at a faster rate. The mean price of a home is down 10.5%. One problem with the home values is that all the folks with equity are selling short right now, and killing the comps. So even if a comparable house on your street sold for $200,000 within the last few years, if you get offered $145 for yours and can do it, you will. That is killing the comps. And the comment about folks not being able to afford the upkeep is so on target. These large houses are becoming cost-prohibitive to own. I can barely afford to heat my 2400 square feet. I don't know how anyone, on a fixed income, can afford what I am paying, or more. more later... |
