Realty Check
Tough talk on all things housing -- booms, busts, bargains and more -- from "Nightline" correspondent Vicki Mabrey
Vicki Mabrey is a correspondent for "Nightline" based in New York. She covers real estate as well as a range of national stories.
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Kwame Kilpatrick Doesn't Live Here Anymore
September 22, 2008 11:39 AM
Vicki Mabrey reports:
Kwame Kilpatrick, Detroit’s embattled mayor, has finally left the building.
The Manoogian Mansion, to be exact. That's the name of the 4,000-square-foot Italian- and Spanish-influenced residence where Detroit's mayors live. The mansion, built in 1928 for $300,000, was lost by the original owner during the Depression. In 1939, it was auctioned off and purchased by Armenian immigrant Alex Manoogian for $25,000. Manoogian donated the 15-room mansion to Detroit in 1965 to give thanks to his adopted city.
Kilpatrick, his wife and two sons left the mansion Thursday. Friday was his official last day in office.
Newly sworn-in acting Mayor Ken Cockrel Jr. says he's not moving into the mansion, so it will sit empty for a few months until Detroiters elect someone new to take over the reins. Hopefully, that person will return stability and prosperity to the city. In the meantime, hope they're protecting the copper pipes.
Last year, Reuters ran a wire story headlined "Houses Cheaper Than Cars in Detroit," detailing the low prices paid during an auction of foreclosed Detroit properties. It's tragic, in a city with such glorious architecture and a proud history. Its economy is suffering terribly and it has one of the highest foreclosure rates in the country.
Checking online, I see that houses in the 48214 zip code, where the Manoogian is located, range in price from $350 for an 889-square-foot bungalow being sold "as is," to $725,000 for a 9,607-square-foot, seven-bed, six-bath mansion. There's even a castle -- asking price $668,000 for seven bedrooms and 4.5 baths. Just in case you want a mansion you can put your name on it.
I'm most familiar with the areas known as the University District, Sherwood Forest and Palmer Woods, because that's where my cousin Leigh lives with her husband and two daughters. Amazing houses, and some might actually be cheaper than a car -- depending on what you drive.
Here's an absolute STEAL right on the Detroit Golf Club. It's less than you'd pay for a two-bedroom Manhattan apartment -- and at six bedrooms, 4.5 baths, and 7,228 square feet, it's even bigger than the Manoogian.
September 22, 2008 | Permalink | User Comments (11)
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Wow. The Manoogian is gorgeous. But Detroit's winters are too cold for me!
Posted by: Lisa Simeone | Sep 23, 2008 2:14:52 PM
Beautiful article. Sorry its true, but ,hopefully, Detroit will soon be on the comeback trail. Saw your Tuesday article on TVO. Great!!!!
xoxoxo
D
Posted by: Harold Mabrey | Sep 23, 2008 2:37:34 PM
Why would someone want to live in Detroit?
Posted by: kelly & Mary | Sep 23, 2008 5:05:31 PM
Something to check into. I'm ready for a new surrounding and I do have relatives in Detroit. Thanks for the article.
Posted by: Linda Pyant | Sep 24, 2008 2:26:39 AM
Ah, yes. My home town. I grew up on Coplin Ave, just off E Jefferson Ave, about 5 blocks from Grosse Pointe Park. The house is no longer there. In fact the whole block and blocks around it are weed covered fields, still laying
fallow after the '67 riots. The City just has not recovered from the riot, sad to say. An exodus of money/capital and white residents from Detroit followed the riot. This established fairly firm lines of segregation by race, along the City lines....still patrolled at times by suburban police cars to guard against 'intruders' (guess what color!).
Posted by: Art | Sep 24, 2008 8:21:57 AM
Such beautiful architecture at very reasonable prices. I'd move there, but then I'd have to become a Lions fan! I don't take losing all that well!
Posted by: Lance | Sep 24, 2008 9:35:19 AM
I'm pretty sure you can see Canada from the rooftop of the Manoogian. Does that qualify Kwame to be on the McCain ticket?
Posted by: Lesley | Sep 24, 2008 9:37:20 AM
Hopefully, the US doesn't mirror Detroit. They knew Kwame was severely flawed and voted for him anyway. Now look at the mess they're in. American voters need to smell the stench of Palin/McCain before they do the same to our country!!!
Posted by: Frank Johnson | Sep 24, 2008 9:41:45 AM
I know Leigh and live around the corner, but please Detroit does have some beauty to it, who every ever the Mayor is does reflect a small part of Detroit, its people represent the heart and soul.
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