Investors scooped up more than 9,000 Detroit homes in a county auction.
Chicago-area developer Bill Hults has his eye on Detroit’s east side.
All houses and buildings started with a $500 bid. There were bargains, surprises and duds.
Most of the properties didn’t sell during the Wayne County tax-foreclosure auction Monday.
Many of the houses up for auction are dilapidated and structurally unsound.
Many of the abandoned homes are gutted, burned and in dangerous, underserved neighborhoods.
Lured by homes selling for as low as $100, investors are beginning to buy up dozens of properties at one time.