Detroit housing prices - Fantasy Baseball Cafe 2014 Fantasy Baseball Cafe
100% Deposit Bonus for Cafe Members!

Return to General Talk

Detroit housing prices

Moderator: Baseball Moderators

Re: Detroit housing prices

Postby Snakes Gould » Thu Mar 12, 2009 2:06 am

congrats.
Image

SIGS!

Shane Victorino wrote:“We keep fighting,” Victorino said. “We keep plugging along.”
Snakes Gould
Hall of Fame Hero
Hall of Fame Hero

User avatar
EditorCafeholicCafe WriterCafe RankerGraphics ExpertMock(ing) DrafterGolden Eagle EyeWeb SupporterPick 3 Weekly WinnerMatchup Meltdown SurvivorLucky Ladders Weekly Winner
Posts: 16051
Joined: 1 Nov 2005
Home Cafe: Baseball
Location: Eternal Bliss

Re: Detroit housing prices

Postby AussieDodger » Thu Mar 12, 2009 5:49 am

Snakes Gould wrote:congrats.


:-S
ATTENTION LONG-TIMERS! NEW FBC: http://fbc2.freeforums.net/
AussieDodger
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicCafe WriterEagle Eye
Posts: 11362
(Past Year: 24)
Joined: 22 Jan 2006
Home Cafe: Baseball
Location: What do you mean, Flash Gordon approaching?

Re: Detroit housing prices

Postby Dan Lambskin » Thu Mar 12, 2009 9:47 am

everybody in the Cafe should buy one ;-D
Image
Dan Lambskin
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicCafe RankerMock(ing) DrafterEagle EyeLucky Ladders ChampionPick 3 Weekly WinnerMatchup Meltdown SurvivorTrivia Time Trial Monthly Winner
Posts: 10225
Joined: 20 Mar 2005
Home Cafe: Baseball

Re: Detroit housing prices

Postby Tavish » Thu Mar 12, 2009 10:08 am

Anyone actually been through the Detroit slum, which is a very large part of the city? You couldn't pay me $7500 to take one of those houses. Burned down crackhouses that are filled with homeless people trying avoid the gangs.
Image

Bury me a Royal.
Tavish
Mod in Retirement
Mod in Retirement

User avatar
CafeholicFantasy ExpertCafe WriterCafe RankerMock(ing) DrafterEagle EyeCafe SpotterWeb Supporter
Posts: 11070
(Past Year: 26)
Joined: 3 May 2004
Home Cafe: Baseball

Re: Detroit housing prices

Postby Pogotheostrich » Thu Mar 12, 2009 10:17 am

thedude wrote:
Matthias wrote:One thing to bear in mind is that the price might not reflect the cost.

I remember seeing an article about a house for sale in Detroit for $1.... but then you also had a water bill, unpaid taxes, and like $20,000 - $30,000 of repair work before you could even call it a house.


I am sure they are selling for those prices inorder to avoid the property taxes. The assessed value must be many times the actual value.


If the property taxes aren't paid doesn't the city or county just assume ownership then?
Image
Pogotheostrich
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicFantasy ExpertCafe WriterMock(ing) DrafterEagle EyePick 3 Weekly WinnerLucky Ladders Weekly Winner
Posts: 21623
(Past Year: 389)
Joined: 9 Dec 2002
Home Cafe: Baseball
Location: St. Louis

Re: Detroit housing prices

Postby Dan Lambskin » Thu Mar 12, 2009 10:57 am

Tavish wrote:Anyone actually been through the Detroit slum, which is a very large part of the city? You couldn't pay me $7500 to take one of those houses. Burned down crackhouses that are filled with homeless people trying avoid the gangs.


all too many times...if only there was a way to knock down aboy 95% of the city and start over (like the bulldoze option in SimCity)
Image
Dan Lambskin
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicCafe RankerMock(ing) DrafterEagle EyeLucky Ladders ChampionPick 3 Weekly WinnerMatchup Meltdown SurvivorTrivia Time Trial Monthly Winner
Posts: 10225
Joined: 20 Mar 2005
Home Cafe: Baseball

Re: Detroit housing prices

Postby CadensDad » Thu Mar 12, 2009 6:31 pm

Dan Lambskin wrote:
Tavish wrote:Anyone actually been through the Detroit slum, which is a very large part of the city? You couldn't pay me $7500 to take one of those houses. Burned down crackhouses that are filled with homeless people trying avoid the gangs.


all too many times...if only there was a way to knock down aboy 95% of the city and start over (like the bulldoze option in SimCity)


Kinda like SimCity meets Grand Theft auto huh?
Image

“Never argue with a idiot, because first they will bring you down to their level. Then beat you with experience.”
CadensDad
Hall of Fame Hero
Hall of Fame Hero

User avatar
Cafe RankerMock(ing) Drafter
Posts: 5977
(Past Year: 2)
Joined: 25 Feb 2005
Home Cafe: Baseball

Re: Detroit housing prices

Postby Mookie4ever » Thu Mar 12, 2009 6:40 pm

CadensDad wrote:
Dan Lambskin wrote:
Tavish wrote:Anyone actually been through the Detroit slum, which is a very large part of the city? You couldn't pay me $7500 to take one of those houses. Burned down crackhouses that are filled with homeless people trying avoid the gangs.


all too many times...if only there was a way to knock down aboy 95% of the city and start over (like the bulldoze option in SimCity)


Kinda like SimCity meets Grand Theft auto huh?


No, I think that he means like SimCity. !+)
Image
Mookie4ever
Head Moderator
Head Moderator

User avatar
ModeratorCafeholicFantasy ExpertCafe WriterMock(ing) DrafterEagle EyeCafe SpotterHockey ModBasketball ModFootball ModMatchup Meltdown ChampionPick 3 Weekly WinnerSweet 16 SurvivorLucky Ladders Weekly Winner
Posts: 19545
(Past Year: 280)
Joined: 17 Dec 2003
Home Cafe: Baseball
Location: Hakuna, Montana

Re: Detroit housing prices

Postby Matthias » Fri Mar 13, 2009 5:29 pm

Pogotheostrich wrote:If the property taxes aren't paid doesn't the city or county just assume ownership then?

I don't think you can get away that easily.

If you have a house that is worth say $300,000 and you don't pay your property taxes, and owe say $40,000, eventually the city might foreclose, sell your house, and take your back taxes out of the proceeds. But if you have a house that you only sell for $3,000 and owe $40,000 in back taxes, the city will send you a bill for $37,000.

That's why these selling prices aren't completely accurate; many of them you would have to assume the past obligations in addition to whatever the published advertising selling price would be.

It's no different than if you took out a $20,000 loan to buy a car that then depreciates down to $5,000. You can sell it for $5,000 but you're still on the hook for the $20k loan unless you include the assumption of the loan into the sale of the car, which is what these banks are trying to do with these bombed-out houses. They're not looking for the $7k or $5k or $1; they're looking to get off the hook for the liabilities.
0-3 to 4-3. Worst choke in the history of baseball. Enough said.
Matthias
General Manager
General Manager


Posts: 4860
Joined: 16 Mar 2005
Home Cafe: Baseball

Re: Detroit housing prices

Postby thedude » Sat Mar 14, 2009 6:07 am

Pogotheostrich wrote:
If the property taxes aren't paid doesn't the city or county just assume ownership then?


I am not too familiar with tax law, but i don't think that the city has to take the home, if say it was a bank that owned the house after a foreclosure they might be better off going after the bank for the cash rather than taking the house. If i remember correctly, there are times when a town will refuse to take ownership of a worthless piece (like a superfund site) of land for failure to pay property taxes.
"I do not think baseball of today is any better than it was 30 years ago... I still think Radbourne is the greatest of the pitchers." John Sullivan 1914-Old athletes never change.
thedude
Hall of Fame Hero
Hall of Fame Hero

User avatar
CafeholicPick 3 Weekly Winner
Posts: 8413
(Past Year: 2)
Joined: 18 Dec 2004
Home Cafe: Baseball
Location: The Good Life

Previous

Return to General Talk

Who is online

Users browsing this forum: Faftorietetle and 2 guests

Forums Articles & Tips Sleepers Rankings Leagues


Today's Games
Friday, Sep. 19
(All times are EST, weather icons show forecast for game time)

LA Dodgers at Chi Cubs
(2:20 pm)
Boston at Baltimore
(7:05 pm)
Toronto at NY Yankees
(7:05 pm)
Milwaukee at Pittsburgh
(7:05 pm)
Washington at Miami
(7:10 pm)
indoors
Chi White Sox at Tampa Bay
(7:10 pm)
indoors
NY Mets at Atlanta
(7:35 pm)
Cleveland at Minnesota
(8:10 pm)
Detroit at Kansas City
(8:10 pm)
Seattle at Houston
(8:10 pm)
Arizona at Colorado
(8:10 pm)
Cincinnati at St. Louis
(8:15 pm)
Philadelphia at Oakland
(9:35 pm)
Texas at LA Angels
(10:05 pm)
San Francisco at San Diego
(10:10 pm)

  • Fantasy Baseball
  • Article Submissions
  • Privacy Statement
  • Site Survey 
  • Contact