With homes starting at just $1,000, how can you possibly pass up Detroit? Numbers this low don’t come around every day, and the city is looking for active community members to take place in this amazing opportunity.
Online bidding has begun, and quality, yet discarded, homes are the latest effort to increase property values and improve the impairment that has struck the Motor City. Working to remove itself from bankruptcy, local Detroit officials are chiming in to help increase the desire to purchase these homes, quickly.
When seeing a boarded up home, people are quick to think that a house is ready to be dismantled. The truth is, most of these homes are looking to be saved, renovated, and livable for a new family to maintain and populate the area.
It’s no secret that most of these homes will require extensive work and are definitely not move-in-ready. Detroit Mayor Mike Duggan has explained that the amount of repair is vast, which is why the incentive to buy low has been implemented. Most homes have been stripped of structural and cosmetic value, including most working appliances, such as furnaces and heaters.
However, officials hope that potential buyers see that the positives greatly outweigh the negatives. Putting in the time and effort to make these homes into comfortable and livable spaces is what will also help entice others to move into desolate neighborhoods, and become a community again.
With bidding starting at $1,000, city officials have stated that most of these homes will be off the market with at least a $20,000 offer. Those who chose to bid and participate in this venture, should be aware any new homeowners will be required to bring these homes up to code within half a year of closing, renovate the home to city standards, and either chose to live or rent the home, once complete.
People have been flocking to the city to get a closer look at these available homes. Over 4,000 people have already signed up for the online auction, and are ready to become serious Detroit homeowners. Most agree this is an amazing opportunity to place solid roots into a growing area, for a minimal investment.
The auction has begun on Monday, May 12, 2014, with 15 homes to start. Hundreds of properties are anticipated to be added within the next few weeks, so now is the time to sign up and start bidding!