My 100,000% Discounted Lot in Detroit, MI

You read that right. I, Jesse Kaye, am going to settlement on a lot in Detroit Michigan that I purchased at 1/10th of 1 cent on the dollar. My lot, addressed at 8211 Central Ave. Detroit, Michigan 48204, goes to settlement this week for $80. I found it through Richard Session of Millenium Group Realtors in Detroit Michigan. He called me and told me about the lot at which point I made a full price offer, which was graciously accepted. What may shock you about this 4,000 square foot piece of land is not the sales price, but the last sale price prior to the foreclosure. Get ready, sit back and read this…

$71,136

Thats right…the same lot I am buying for $80 sold for $71,136 in March of 2007.

So DC’ers, coming to terms with the definition of a bad market in our local market versus what many other may consider a bad market may just cause you to rethink your understanding of real estate price declines nationwide.

Be thankful.

To contact Richard Session or to inquire about real estate in Michigan his contact info is HERE.