Many housing markets are hurting now, but probably none as bad as Detroit. Look at this gorgeous old home that Time, Inc. just purchased in the West Village in Detroit for only $99,000. In 2007, it sold for $252,500:
So, just what does $99,000 buy you in Detroit? How about 3,400 square feet! This home is located in the West Village, near Indian Village and Jefferson. Built almost 100 years ago, it has a new kitchen with stainless appliances and a master suite with a new bathroom! Wow!
Here are more homes for sale in West Village.
Writers from Time, Inc. will live in this home, at 1087 Parker, for one year, chronicling (another) rebirth of Detroit. After the year is up, they will donate the home.
I am pretty excited about this project, since I was born and raised in Detroit and have been awaiting her comeback for nearly all of my life. And of course, I'd love to see how they are going to decorate it ;)
You can see videos of the inside of the home and the neighborhood, too at MLive.com.
Welcome to Detroit, Time, Inc. Writers. I will be watching and reading all of your work. In fact, I am going to subscribe to Time Magazine right now.
PS: Here is where my house in Detroit used to stand. It's just an empty lot now, like much of Detroit...