land bank

Investigative
4:40 pm
Thu June 26, 2014

Detroit sells $1 million worth of vacant homes

One of the many houses put up for auction by the Detroit Land Bank.
Credit Lester Graham / Michigan Radio

The city of Detroit says it’s sold $1 million dollars worth of vacant homes that will be fixed up and occupied. Nearly 70 auctioned properties have been sold.

These are purchase commitments from bidders, not cash in hand, but reaching the million-dollar mark gives Detroit Mayor Mike Duggan and the Detroit Land Bank some bragging rights.

Of the 16,000 properties the city owns, 2,000 are salvageable. At an open house of properties to be auctioned last month, Mayor Duggan said the city would start putting up two houses a day for auction.

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Politics & Government
6:00 am
Tue April 15, 2014

Detroit launches online auction site to fill vacant homes

One of the first Detroit homes up for auction in East English Village.
Credit via buildingdetroit.org

The city of Detroit has launched an effort to fill some of its vacant homes with new residents – an online auction site for city-owned properties.  

There are 15 houses listed on the site now. The plan is for the Detroit Land Bank Authority to start auctioning off one home a day, starting May 5.

Detroit Mayor Mike Duggan says this is part of the city “moving aggressively” to deal with blight.

Duggan says the idea is to get the homes fixed up, and people living in them, as soon as possible.

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Economy
2:56 pm
Mon April 4, 2011

Many Michiganders miss date to pay the tax man

(photo by Steve Carmody/Michigan Radio)

County treasurer offices across Michigan this week are processing thousands of homes that have fallen into tax foreclosure. Michigan property owners has until last week to pay up their 2008 property taxes or face losing the property to tax foreclosure. Many counties were expecting about a 10% increase in homes falling into tax foreclosure. 

In Genesee County, the owners of 2,999 properties missed the deadline. About 600 more than last year. Deb Cherry is the Genesee County Treasurer. She was not surprised by the jump in tax foreclosures. 

 “A lot of it has to do with the fact that 2008 was one of the worst years in the housing market.”

Cherry does not expect there will be many buyers when these homes go up for sale later this year.

Many of the properties will find their way to the Genesee County Land Bank, which is already taking care of more than 6,000 properties. Douglas Weiland is the land bank authority executive director.

"Its not a question of whether we can absorb more properties, we will absorb more properties and we expect we'll see that trend continueing for some time yet."