I just thought that the following article I found this morning was interesting;
Foreclosure fallout: Houses go for a $1
Ron French / The Detroit News
DETROIT -- One dollar can get you a large soda at McDonald's, a used VHS movie at 7-Eleven or a house in Detroit.
The fact that a home on the city's east side was listed for $1 recently shows how depressed the real estate market has become in one of America's poorest big cities.
And it still took 19 days to find a buyer.
The sale price of the home may be an anomaly, but illustrates both the depths of the foreclosure crisis in Detroit and the rapid scuttling of vacant homes in some of the city's impoverished neighborhoods.
The home, at 8111 Traverse Street, a few blocks from Detroit City Airport, was the nicest house on the block when it sold for $65,000 in November 2006, said neighbor Carl Upshaw. But the home was foreclosed last summer, and it wasn't long until "the vultures closed in," Upshaw said.
"The siding was the first to go. Then they took the fence. Then they broke in and took everything else."
The company hired to manage the home and sell it, the Bearing Group, boarded up the home only to find the boards stolen and used to board up another abandoned home nearby.
Scrappers tore out the copper plumbing, the furnace and the light fixtures, taking everything of value, including the kitchen sink.
"It about doesn't make sense to put the family out," Upshaw said. "Once people are gone, you're gonna lose the house in this neighborhood."
Tuesday, the home was wide open. Doors leading into the kitchen and the basement were missing, and the front windows had been smashed. Weeds grew chest-high, and charred remains marked a spot where the garage recently burned.
Put on the market in January for $1,100, the house had no lookers other than the squatters who sometimes stayed there at night. Facing $4,000 in back taxes and a large unpaid water bill, the bank that owned the property lowered the price to $1.
$1 sale to cost bank $10,000
While it's not unusual for $1 to be exchanged when property is transferred for legal reasons, listing a home in the Multiple Listing Service for $1 was surprising and unsettling to Kent Colpaert, the listing real estate agent for the property.
"I've never seen a home listed for $1," Colpaert said.
"But it's been hit hard: It's just a shell."
On Tuesday, Realtor.com listed one other single-family home, one duplex and one empty lot at $1 in Detroit.
Dollar property sales are the financial hangover from the foreclosure crisis, said Anthony Viola of Realty Corp. of America in Cleveland.
Lenders that made loans to unqualified buyers during the height of the subprime market now find themselves the owners of whole neighborhoods of vacant, deteriorating homes.
"No one has much sympathy for these banks that made subprime loans," Viola said. "And in some cities like Cleveland, judges aren't letting them sit on the properties -- they're ordering them to tear them down or sell them."
So desperate was the bank owner of 8111 Traverse Street to unload the property that it agreed to pay $2,500 in sales commission and another $1,000 bonus for closing the $1 sale; the bank also will pay $500 of the buyer's closing costs. Throw in back taxes and a water bill, and unloading the house will cost the bank about $10,000.
"It doesn't make sense in some neighborhoods to keep paying costs and costs," Colpaert said. "It can make more financial sense to give it away."
Buyer calls it an investment
Colpaert declined to provide the name of the prospective purchaser, because the deal had not been through closing. The agent did say that the buyer agreed to pay the full list price of $1, and planned to pay cash.
The buyer, a local woman, considers the home to be an investment property and will not live there, Colpaert said, though exactly how soon the buyer can expect to recoup her four-quarter investment is questionable. Replacing the guts of the house will costs tens of thousands of dollars, and the owner will have trouble keeping scrappers from stealing the improvements as quickly as they're installed. Home demolition costs about $5,000, Colpaert said.
Meanwhile, the new owner will owe $3,900 in property taxes in 2009 on her dollar purchase unless she challenges the tax assessment.
While selling a home for the amount of change most people could find between their couch cushions is unusual, some abandoned homes in Detroit sell for $100; vacant lots can be purchased for $300.
"My 14-year-old son could buy a block of Detroit property," said Ann Laciura, senior servicing specialist for the Bearing Group.
You can reach Ron French at (313) 222-2175 or rfrench@detnews.com.
Thursday, August 14, 2008
Saturday, August 9, 2008
Lady Hips
We went swimming again the other day at Aunt Lori's house. This time though, Aunt Rebecca had bought the kids swimsuits with the floating devices in them so to help them swim. Or at least not sink. So, I helped Ariel get hers on. The only problem was that while even though it was as open as it would get, it would not budge any higher than her hips.
Then she said to me, "Mom! It's stuck! It's just not going to work. It doesn't fit!"
So I said, "Well it looks like its because your hips are already grown up."
Ariel replied, "Yeah, I have lady hips now!"
So the rest of the day whenever anyone asked her why she wasn't wearing her new suit, she told them it's because she's grown up and has lady hips! It was so funny. But at 6 years old? Good grief. I hope nothing else 'grownup' happens with her for a very long time!
Then she said to me, "Mom! It's stuck! It's just not going to work. It doesn't fit!"
So I said, "Well it looks like its because your hips are already grown up."
Ariel replied, "Yeah, I have lady hips now!"
So the rest of the day whenever anyone asked her why she wasn't wearing her new suit, she told them it's because she's grown up and has lady hips! It was so funny. But at 6 years old? Good grief. I hope nothing else 'grownup' happens with her for a very long time!
Murdered
Here is an article clip of recent events in my hometown of Battle Creek, Michigan.
A Battle Creek man was critically injured Saturday when he was beaten in what might have started as a road rage incident, Emmett Township police said.
The victim, Shane Parker, 30, was taken to Battle Creek Health System by Lifecare Ambulance and later transferred to Bronson Methodist Hospital in Kalamazoo. Police said late Saturday he remained in very critical condition.
Police said one of two suspects in the incident turned himself about an hour later, was questioned and arrested. Police were searching for a second man, Patrick J. McKeever, 33, of Ceresco.
Anyone with information about McKeever is asked to call Silent Observer at 964-3888.
Several witnesses to the incident also were being questioned, police said.
The assault was reported at 4:04 p.m. at Emmett Street near Dick Street, two blocks east of Raymond Road. Emmett Township Department of Public Safety Director Frank Post said three 911 calls first reported a hit and run accident, then that someone was being chased in a vehicle and finally that a man was down on the side of the road.
Two women in a Jeep were eastbound and told officers they saw Parker stagger from the yard at 946 Emmett St. and into the road. The women stopped their vehicle and the man fell onto the hood of the Jeep and then fell to the pavement.
The incident might have started as a road rage dispute east of where Parker was found but police said the victim of the beating was not originally involved. Parker apparently was injured during a confrontation near where he was found.
Lt. Tony Geigle said witnesses have told officers that everyone involved in the incident knows each other.
The two suspects fled westbound in a vehicle after the incident and Emmett police issued a broadcast to other police agencies to begin searching for the men.
Police said Parker was beaten with fists and a weapon was not believed used. Calhoun County sheriff deputies were assisting.
Trace Christenson can be reached at 966-0685 or tchrist@battlecr.gannett.com.
The followup story to this ends like this: Shane died of his injuries 10hours later in the hospital, leaving behind a girlfriend who is the mother of his 3 daughters.
I do not know how to express my feeling over this in words, as it could be misinterpreted by some. You see, I used to go to school with Shane- starting in Kindergarten. He was my hero. And I think I might have been his only friend besides Jimmy, who passed away several years ago now too. Shane was the kind of kid who got a bad wrap for his older brothers' bad behavior and so everyone saw him through a dirty lense so to speak. And because of all the adults in his life looking down on him and always expecting the worst, he gave it to them with a passion. He was exactly what you saw. The adults saw trouble; I saw a friend who would fight for you till the end; someone who wasn't afraid to be sad with you or put in a lot of effort to make you happy- but only if he liked you. ; ) I think he was the precursor to my obsession for passionate, ambitious men.
He had a hard life growing up, but in no way do I believe this ever gives people a reason to make bad choices themselves- it only explains that they're continuing the cycle of what they've been taught. I'd much rather see them break the reckless chain and make something of themselves-- if only to prove to others that they're better than what everyone else thought of them at one point...
I think Shane did this in some ways-- he stuck with his family as some certain others had not.... he had a softness to his voice and manner that you could tell there was gold underneath; he was a kind person in some ways, but he had an untameable temper, attitude, maybe even paranoia and distrust so inset in him that you just knew his life would be short and end in this violent sort of manner. Thus it was no surprise to me to hear the news, but I am still frustrated that he never came around to the 'good' side of life. I had always secretly had high hopes for him.
In some ways maybe this is a good thing, giving the mother of his children a chance to be raised without the violent moods and harsh, uncaring attitude and provide them with a more stable environment. This is definately a blessing in disguise. I just hope she will take every opportunity this life change has offered her and make her life better and especially make the girls' lives better for it.
Maybe they will remember Shane thru a rose-colored glass, masking the blemishes and be satisfied enough to know that because of him they exist in this world, and I prayerfully ask God that they will find this world full of His glory and grace instead of the violence and frustration so many others find instead.
A Battle Creek man was critically injured Saturday when he was beaten in what might have started as a road rage incident, Emmett Township police said.
The victim, Shane Parker, 30, was taken to Battle Creek Health System by Lifecare Ambulance and later transferred to Bronson Methodist Hospital in Kalamazoo. Police said late Saturday he remained in very critical condition.
Police said one of two suspects in the incident turned himself about an hour later, was questioned and arrested. Police were searching for a second man, Patrick J. McKeever, 33, of Ceresco.
Anyone with information about McKeever is asked to call Silent Observer at 964-3888.
Several witnesses to the incident also were being questioned, police said.
The assault was reported at 4:04 p.m. at Emmett Street near Dick Street, two blocks east of Raymond Road. Emmett Township Department of Public Safety Director Frank Post said three 911 calls first reported a hit and run accident, then that someone was being chased in a vehicle and finally that a man was down on the side of the road.
Two women in a Jeep were eastbound and told officers they saw Parker stagger from the yard at 946 Emmett St. and into the road. The women stopped their vehicle and the man fell onto the hood of the Jeep and then fell to the pavement.
The incident might have started as a road rage dispute east of where Parker was found but police said the victim of the beating was not originally involved. Parker apparently was injured during a confrontation near where he was found.
Lt. Tony Geigle said witnesses have told officers that everyone involved in the incident knows each other.
The two suspects fled westbound in a vehicle after the incident and Emmett police issued a broadcast to other police agencies to begin searching for the men.
Police said Parker was beaten with fists and a weapon was not believed used. Calhoun County sheriff deputies were assisting.
Trace Christenson can be reached at 966-0685 or tchrist@battlecr.gannett.com.
The followup story to this ends like this: Shane died of his injuries 10hours later in the hospital, leaving behind a girlfriend who is the mother of his 3 daughters.
I do not know how to express my feeling over this in words, as it could be misinterpreted by some. You see, I used to go to school with Shane- starting in Kindergarten. He was my hero. And I think I might have been his only friend besides Jimmy, who passed away several years ago now too. Shane was the kind of kid who got a bad wrap for his older brothers' bad behavior and so everyone saw him through a dirty lense so to speak. And because of all the adults in his life looking down on him and always expecting the worst, he gave it to them with a passion. He was exactly what you saw. The adults saw trouble; I saw a friend who would fight for you till the end; someone who wasn't afraid to be sad with you or put in a lot of effort to make you happy- but only if he liked you. ; ) I think he was the precursor to my obsession for passionate, ambitious men.
He had a hard life growing up, but in no way do I believe this ever gives people a reason to make bad choices themselves- it only explains that they're continuing the cycle of what they've been taught. I'd much rather see them break the reckless chain and make something of themselves-- if only to prove to others that they're better than what everyone else thought of them at one point...
I think Shane did this in some ways-- he stuck with his family as some certain others had not.... he had a softness to his voice and manner that you could tell there was gold underneath; he was a kind person in some ways, but he had an untameable temper, attitude, maybe even paranoia and distrust so inset in him that you just knew his life would be short and end in this violent sort of manner. Thus it was no surprise to me to hear the news, but I am still frustrated that he never came around to the 'good' side of life. I had always secretly had high hopes for him.
In some ways maybe this is a good thing, giving the mother of his children a chance to be raised without the violent moods and harsh, uncaring attitude and provide them with a more stable environment. This is definately a blessing in disguise. I just hope she will take every opportunity this life change has offered her and make her life better and especially make the girls' lives better for it.
Maybe they will remember Shane thru a rose-colored glass, masking the blemishes and be satisfied enough to know that because of him they exist in this world, and I prayerfully ask God that they will find this world full of His glory and grace instead of the violence and frustration so many others find instead.
Friday, August 1, 2008
House news
So, we heard the other night from our realtor that the sellers were not interested in our offer. The conceded that they would accept the intial amount we offered, but refused to pay closing costs in the deal. So, there is no agreement and we are back to the drawing board in our search for a home, as the other 2 houses that were at the top of our list had been vetoed off the list altogether.
Today we are scheduled to go look at another place in the same neighborhood as the 1st house. It's in the Sherman Oaks development, next to John Rudy Park in Mt. Wolf. We are excited because although it appears that the basement isn't finished, it is significantly less in price. We shall see why that might be in comparison to others in the neighborhood.
Today we are scheduled to go look at another place in the same neighborhood as the 1st house. It's in the Sherman Oaks development, next to John Rudy Park in Mt. Wolf. We are excited because although it appears that the basement isn't finished, it is significantly less in price. We shall see why that might be in comparison to others in the neighborhood.
Happy Birthday to me
So, yesterday was my 29th birthday, and lots of people gave me a hard time. About being old? What are they possibly talking about when they are all twice my age?? Maybe they have suffered memory loss themselves from old age....
The day was a bit on the slow side. Nathaniel still was not feeling himself, and was having his 3rd day of a fever. So we took it easy for awhile. Romona brought Dominic over to play for the day and we took a short visit to Ashcombes for some parsley and ice cream. Nice mix, eh? We then picked up some BK for lunch and went home for naps.
Last night everybody came over for some games, pizza, stromboli and cake. We had lots of fun celebrating.
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