Detroit Hustle - Remodeling a home in the West Village

http://www.nytimes.com/2016/04/23/yo...ttom-well&_r=0

The morning newspaper has an interesting story about a book that will be published next month, Detroit Hustle. A couple from Denver purchased a 3,000 square foot home in the West Village several years ago for $35k. They invested $400k in repairs and it is now assessed at $300k. However, they are very happy. The book is described as a love song to the home and to Detroit.

There is also an essay a couple of pages later about how the Detroit bankruptcy changed the sales of insurance for muni bonds.

This is the couple who managed to salvage [[legally) artifacts from the First Unitarian Church on Woodward before it burned. The artifacts are now used inside their house.

https://amyhaimerl.com/2014/05/10/ma...ch-of-detroit/

I read article and saw the pictures. I have difficulty figuring where $400 K was spent. Having renovated a slightly smaller house in Highland Park, albeit doing most of the work and factoring for past inflation, I just can't see it.

Quote:

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Originally Posted by Lowell

I read article and saw the pictures. I have difficulty figuring where $400 K was spent. Having renovated a slightly smaller house in Highland Park, albeit doing most of the work and factoring for past inflation, I just can't see it.

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I guess if one does things such as spending $65,000 to replicate the Unitarian Church's balcony into wainscoting, the tab can run up pretty easily.

Quote:

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Originally Posted by Lowell

I read article and saw the pictures. I have difficulty figuring where $400 K was spent. Having renovated a slightly smaller house in Highland Park, albeit doing most of the work and factoring for past inflation, I just can't see it.

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You don't hit me as a Hipster type, walking around with a latte in your hand, hiring Kraft contractors, buying up Kraft doors, and trying to fulfill a fantasy, like you saw on TV. But then, I've been wrong before.....

My neighbor just put in a 15k custom iron front door. I know someone who spent 100k+ on a back patio. And both homes are far from mansions.

I've never renovated a house, but I sense that if you want to spend 400k on a home, it isn't very hard.

I think it's a bit crazy, but don't really care what people do with their money.

I hate to say anything negative about them, but they are not very practical people.

At least its in a great location in West Village. I always loved the Van Dyke Place/Seyburn area. Second only to my block of Parker, that is.

If this house is appraising for $300,000, I wonder what the houses a couple blocks over would appraise for now?

7840 Van Dyke Place is the address of the house.
https://motorcitymapping.org/sc/mi/w...5158/-82.99671

Quote:

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Originally Posted by Lowell

I read article and saw the pictures. I have difficulty figuring where $400 K was spent. Having renovated a slightly smaller house in Highland Park, albeit doing most of the work and factoring for past inflation, I just can't see it.

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We used to find sash Windows and panel doors for free curbside,now thanks to Pinterest and thinking it is cool to hang a door on the wall and call it a picture,people are trying to get $200 for a 5 panel door anymore.