In a
Larry Gilbert original article in metrotimes.com Oct 4 2017 he mentions that he lives in the area. This area is a big project under the current mayor. Since the election will take place in a month, it is a part of Detroit that is not gentrified but is still getting attention- Fitzgerald is the experiment .
I was wondering what happens to people in urban experiments.
What if you want to be an active participant in your future?
I grew up with HUD.
Model Cities , Urban Renewal and then I moved to NYC- Harlem.
clicking on box = easier to read
So many dollars so little results. Neoliberal thought and action means there is not a tendency to throw federal /state/civic money at anything too large/unpredictable . Experience has shown to legislatures that agencies designed to improve urban environments tend to be ineffective.
Better to use private money.
The unidentified 89 year old has her own money
so how much would she need to get a house in this improvement zone.???????
The less work needing to bring the house to habitation the better. So the first Detroit Housing Auction in September tends to move houses that are more
readily fixable.
Acccording to the official website bidder registration started in August
Provided that the bidder is sharp and sticks to deadlines and is Internet savvy , all they really need is money in the bank to bid on something decent- aka a Premium Property
1. The Auction will be conducted on the internet by the Treasurer, at
Thoroughly examine the zoning and plot info links to the Wayne County site that you need to consult before going to the bidding site www.waynecountytreasurermi.com
- You need to do Due Diligence - there is a kiosk where you can look up parcels/info
- You must check the deed information before you purchase a
parcel.
- Deed information can be checked at the kiosk for free, at 400
Monroe Street, 7th Floor.
Finally, if you are feeling pretty comfortable about the purchase , review your contractors on Angie's List/ Home Adviser .com and vet their honesty. The main thing to know is their willingness to work in Fitzgerald -
the Home Depot is on 7 mile and Meyers and they will be making lots of trips.
Do the math ---- on paper you need to have liquid approximately 5 times what it would take to make a home habitable in 6 months because it will be furnished ...
5 x 25,000 minus 25,000 for the auction is approximately 100,000 which should cover EVERY last Unforeseen, Emergency , Cursed
Nain Rouge problem that can happen
Set aside 3.5 times the initial cost of the bid margin (25,000 x 3.5) for work by deadline :
there is still a fixer upper deadline in these Special sales!Also assume you will need basic decent furniture/appliances that fits the house -stove, fridge, washer, dryer, bed, couch, table, chair ..
..adds up to the other 1.5 times the initial investment.(25,000 x 1.5 )
Guess who is not that affluent??? Despite saving $ by not paying average NYC rent , and having some $ in the bank , this writer decided it was too easy to spend 100 K total . Also This writer is not trying to flip anything since we never had 100 K to begin with.
If you want to simply retire and not be too worried about hurricanes, bad guardians , living wills, rising taxes, etc , it makes sense to move to Kentucky and grow tomatoes.
What can that 89 year old in 48227 do ?That 89 year old could easily overspend for her child and offspring. I hope you are using an online calculator, printing the results and asking yourself
Can it get done for less?
If you belong to the Boomer demographic (lets say Zoomer - Plan to Ski when retired) You are computer savvy compared to an 89 year old . In my case , the move back to the Detroit Metro area from NYC gave me a unique perspective. I could go hipster and be creative , even
Detropia on this Land Bank and do something cool... using grant money along with my money, and I could plan it all out by research online. No tiny house in my future. Hello Brick House with features!!
That did not happen . Money went to other things , like school loans.
Despite tools, rough carpentry background and friends with skills the $500 dollar house was a fleeting dream-Even with me getting the permits and parking the motorhome on site with tools and a concealed permit, as suggested by my retired cop friend,I knew better... $500 dollars needs to be 50,000 - just the gas needed to transport materials would add up quickly. The obvious costs versus the hidden ones like security for the tools until the job was DONE.
(I would probably just hire security anyway which means the $500 dollar house is no longer at $500..)
But dreamers deserve to dream and maybe get a book out of their efforts...
Amy Haimerl and her partner Karl Kaebnick on the initial 35 K investment (which is $ amount total Wayne County Bid pg 5 of the auction rules .pdf cites for the Premium Parcel) They ended up spending a lot more.
Most 89 year old Detroiters cannot afford to do what Drew Phillips did either-
regularly populating restaurants in Detroit ...
Taking on a restoration project or even traveling to eat out is a no go. Being a homebody is probably true for those who live in my old neighborhood or Fitzgerald as well . Not easy to go out on the regular , driving and discovering the next cool thing that is popping up less than 10 miles via M10/Lodge Freeway . It should be easy to figure out that Boomers are not in the home renovation business in Detroit due to Life getting in the way. Yet they are the ones with some need to establish security - but not the 89 year old----- this will wreck her security ...
....Be kind to this 89 year old. Her auction project could be realized It is all about being in the Know and reading every last link in this article .... It is about doing doing the math. Consider the great Metropolitan area between the riverfront and the old Selfridge Air force base even though it is not all Oakland county . Money not extending far enough is the issue. The average cost of taxes, water bill, and electric resulted in a 9% increase in Oakland county in 2017 . If you are a retiree,your social security /pension had to absorb a 9 % increase from 2016-2017 just because you live in the general area between here and the closest farmland.
(No stats for Detroit yet but lets say it went up about that much there too)
You r ability to absorb that 9% is based on an income above $37,000- which is easily done in Oakland county since the median income in @ 65 ,000 .
Guess what the medium income is in Detroit ?
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Conclusion :
you will do fine- in Oakland County so get your kid to take over your old house in Fitzgerald, and you need to move out here to
Waterford , South Milford or Pontiac - Unless you are very connected to your church you will find a new community here by using on demand SMART transit to hang out at the local civic center.
Here is Troy as an example
Then again, it all depends on the schools.
Maybe you stay put and get your grandkids in the aforementioned towns where the
education is almost as good as private, and it is free.
Your Call. Just do not Fitz yourself.