Where will our families live in Detroit?
SO, WHERE WILL YOUR FAMILIES LIVE WHEN YOU DUDES ARRIVE IN DETROIT? I’ve been asked this question many times. Right now both the Bontrager and Hanafee families have submitted offers on homes in the Boston Edison neighborhood in Detroit. Both are short sales so it could take a while for the bank to make a decision to whether to accept the offer or decline it.
Detroit has many homes for sale. The issue that makes it a little complicated is most are short sales. Home values have plummeted over the past few years. In March 2010 alone the housing value dropped 18.8%. Since fall of 2005 housing value have dropped 47.1%. www.freep.com
But the median sales prices rose last month as there were fewer foreclosure sales. Realcomp figures showed the median sales price for April in Detroit was $9,000, up 50% from $6,000 in April 2009; in Macomb County, it was $76,000, up 28.8% from $59,000; in Oakland County, it was $110,000, up 30.2% from $84,500, and in Wayne County, it was $36,900, up 105% from $18,000.
As you can see from the above quote the market is not good. Is this where we should invest our hard earned money in a house? If you’re an investor it may be ok if your in it for the long haul. We are not investors though, we are church planters investing our lives in Detroit where God has called us. So, will we buy a home in this area, you bet your first born we will. We know investing in this community will give us inroads that we would never have if we had not. We plan on being here for a long long time, and God knows all about the economy.
One ministry opportunity we envision may be buying homes and fixing them up and seeding a family back in to the community. Showing Christ’s love for our community by making our community more stable. We will be able to show a RESTORE theme of the gospel and how Christ comes into each one of our lives and makes all things new.
As we were looking for a neighborhood, we wanted one that was stable (not going to be shut down), but also close (within walking distant) to a blighted area for different ministry opportunities. Boston Edison fit that criteria for us.
You can click the links to see the specs on the homes.