Here’s what you can buy these days for $5,900 (or best offer).

This car:

carforsale

This trailer:

trailer

Or, if you live in Detroit, this house:

shithouse

From CNN/Money:

Nearly 700 homes in the Detroit area will be auctioned on Sept. 21 through Sept. 23, one of the biggest home auctions ever.

Rising default rates in the economically hard-hit, auto-industry town have riddled the Detroit housing market. There’s an abundance of bank-owned properties available for sale …

… Michigan has been one of the leading foreclosure states in the nation the past few years with Detroit as its epicenter.

One house in Highland Park, an independent town almost completely surrounded by Detroit, was marketed at $5,900 and did not sell. It’s a cute, 900-square foot cottage with three bedrooms and a bath. There’s an undisclosed reserve price, but it’s almost sure to sell for less than the $5,900 it was listed at last. It needs considerable work.

For those of you willing to make the trip, most of the properties are available for viewing, prior to the auction, and all of them have clear titles.

Must I point out, most of these homeowners got into trouble for reasons other than the foreclosure “crisis” we’ve been hearing about, ad nauseum, over the past several months.

Massive Motown foreclosure auction – By Les Christie, CNN/Money

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Updated: 1st Quarter 2018

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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