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Adam
F L I N T O I D
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Fri Jan 28, 2011 12:49 pm |
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untanglingwebs
El Supremo
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Small houses that several years ago sold for $25 to $35 thousand are selling for $8 to $10 thousand. Even in Brae Mor in grand Blanc, there are some deals. Friend bought a $400,000 house for less than $100,000.
I remember being shocked several months ago when I saw houses in the north end being sold for $5,000 in the newspaper ads.
Several years ago real estate gents on the east side were complaining about being offered less than half what the asking price was. That is the situation everywhere.
Flint had rampant instances of predatory lending. Shortly after some real estate agents explained to me the types of lending schemess were going on , I overheard a secretary exclaim that buying a house was such a wonderful deal that she wanted another. She very loudly announced that she got money back from closing on her purchase. I have wondered how she eventually made out.
HUD representatives are upset over their huge inventory and their inability to protect them from the scavengers. Former $100,000 homes are going for $5,000 but they have been severely trashed inside. |
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Sat Jan 29, 2011 8:02 am |
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untanglingwebs
El Supremo
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I just returned from my second estate sale in two days. One home was a ranch in Woodcroft and the other a Tudor off Welch. As I looked at the homes all I saw was "the money pit"! Both homes looked great outside, but definitely needed updates inside.
Many older residents are comfortable in their homes and either don't see the need or don't have the money to update. I found the Tudor layout confusing with many chopped up smaller rooms and some strange gas heat unit on the wall of one room. In the Woodcroft home I was struck by the fussy wallpaper, some of which was peeling. Both homes needed new carpet, cleaning and painting.
I saw even worse in a sale in Mott Park. That home was a candidate for hoarders, the television show. That home needed major work, including new sub floors in the kitchen.
As the homes of our senior population come up for sale, many will be discounted in price because some much repair is needed. A good reason Flint sales are low.
Last edited by untanglingwebs on Sat Jan 29, 2011 6:50 pm; edited 1 time in total |
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Sat Jan 29, 2011 1:53 pm |
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Dave Starr
F L I N T O I D
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| Ever looked through the windows of the Mott home at Applewood? Amazingly small rooms. |
_________________
I used to care, but I take a pill for that now.
Pushing buttons sure can be fun.
When a lion wants to go somewhere, he doesn’t worry about how many hyenas are in the way.
Paddle faster, I hear banjos. |
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Sat Jan 29, 2011 6:47 pm |
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untanglingwebs
El Supremo
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Gp through Henry Ford museum and see the same thing. My favorite home there even has very low ceilings.
In the Tudor home here in Flint, I somehow made a circle and ended up where I started . I had to look around to see how I got there. |
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Wed Feb 02, 2011 7:54 am |
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