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Homes are Rehabbed and Ready in Detroit Neighborhoods

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Homes are Rehabbed and Ready in Detroit Neighborhoods

Homes are Rehabbed and Ready in Detroit Neighborhoods. Low property values have made it almost impossible to get a home mortgage in most city neighborhoods. To combat that problem, the Detroit Land Bank Authority, along with Mayor Mike Duggan, Quicken Loans and The Home Depot, collaborated to create a program dubbed Rehabbed and Ready.
The idea behind Rehabbed and Ready is to renovate vacant homes, properly conduct appraisals, and sell them using the DLBA’s auction website, BuildingDetroit.org. The Rehabbed and Ready program uses a $5 million grant from Quicken Loans to remodel and update homes that are owned by the DLBA, bringing them up to code. When the homes are move-in ready, they will be put up for auction. Depending on how much was invested into rehabilitating the home, minimum bidding prices will vary.

Rehabbed homes

Four neighborhoods have been selected to kick this program off including Bagley, Cary/St. Mary’s, College Park, and Evergreen/Outer Drive. Open houses will be held the weekend before the homes are auctioned off.
Quaint homes in the Bagley community were abandoned with overgrown bushes and weeds just a few months ago and now they are move-in ready thanks to the Rehabbed and Ready program. The open houses for these newly remodeled homes will be held on Saturday, August 29 from 11 a.m. to 5 p.m. at 18652 Monica Street and 18509 Prairie Street.

Rehabbed homes

Homes are Rehabbed and Ready in Detroit Neighborhoods
Low property values have made it almost impossible to get a home mortgage in most city neighborhoods. To combat that problem, the Detroit Land Bank Authority, along with Mayor Mike Duggan, Quicken Loans and The Home Depot, collaborated to create a dubbed Rehabbed and Ready.
The idea behind Rehabbed and Ready is to renovate vacant homes, properly conduct appraisals, and sell them using the DLBA’s auction website, BuildingDetroit.org. The Rehabbed and Ready program uses a $5 million grant from Quicken Loans to remodel and update homes that are owned by the DLBA, bringing them up to code. When the homes are move-in ready, they will be put up for auction. Depending on how much was invested into rehabilitating the home, minimum bidding prices will vary. 
Four neighborhoods have been selected to kick this program off including Bagley, Cary/St. Mary’s, College Park, and Evergreen/Outer Drive. Open houses will be held the weekend before the homes are auctioned off.
Quaint homes in the Bagley community were abandoned with overgrown bushes and weeds just a few months ago and now they are move-in ready thanks to the Rehabbed and Ready program. The open houses for these newly remodeled homes will be held on Saturday, August 29 from 11 a.m. to 5 p.m. at 18652 Monica Street and 18509 Prairie Street.

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