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Old 09-04-2007, 09:52 PM
Location: Annapolis, MD
22 posts, read 128,980 times
Reputation: 30


Detroit still has some beautiful mansions.

Click on the URL to read the article. To play the video, click on launch. A commercial video will play then a video of the house for sale.

Detroit housing market feels car industry's chill - Real Estate - MSNBC.com
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Old 09-05-2007, 08:32 PM
999 posts, read 4,392,679 times
Reputation: 425
Friend of mine bought the old Moran mansion in the Pointe closest to Detroit. Moran was a lawyer for Henry Ford. Their wine cellar looked..hell, actually WAS a bank vault in the basement. They had davits for a boat right on Lake St. Clair in the backyard. During Prohibition they'd just run right across to Windsor for their booze. They bought it for $1 million and were going to tear it down, salvage the pieces and then develop the lot with 5 new houses.

They ended up selling it a year later.....to a TV minister....for TWO million.

As far as mansions actually IN Detroit......Location.......Location.......Locatio n....Then I guess there's something to be said for only having to walk a block in any direction to get a hooker or some dope.
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Old 09-05-2007, 09:18 PM
106 posts, read 519,507 times
Reputation: 78
Well, it's located in the city. Honestly, the only reason that house is so inexpensive is because of the inner-city location, which diminishes its value. However, if that exactly same house was in Bloomfield Hills, it would be worth easily three to four times that amount, even with the terrible real estate market.
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