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Distressed houses across metro Detroit, some in near-demolition condition, have been restored as part of federal stimulus efforts and are ready for sale.
Millions of federal stimulus dollars were poured into the effort. Michigan communities received $253 million in late 2008 through the Neighborhood Stabilization Program (NSP) to help low- and moderate-income home buyers, investors and nonprofit groups breathe life into thousands of vacant, foreclosed homes. Michigan was allotted an additional $223.9 million last year to continue the work.
The renovated homes include a three-bedroom, one-bath, 922-square-foot home in Westland listed for $75,000 and a 1,500-square-foot, three-bedroom, two-bath home in Oak Park for sale at $90,000.
These two homes, which were debuted Monday, are part of an effort to sell at least 100 restored homes priced between $50,000 and $150,000 in 15 metro Detroit communities with a push by the Michigan Association of Realtors and Home Renewal Systems, a Farmington Hills-based company that has handled the NSP program for Eastpointe, Ecorse, Ferndale, Hazel Park, Holly, Inkster, Keego Harbor, Lake Orion, Oak Park, Ortonville, Pontiac, Redford, River Rouge, Royal Oak Township and Westland.
Joanne Inglis, director of housing and community development in Westland, said 1457 Gloria St., for sale for $75,000, has new appliances, cabinets and countertops, electrical and plumbing repairs, landscaping and new carpet.
“In other houses, we are replacing furnaces and roofs. … Anything that brings the house to the point where a new homeowner doesn’t have to worry about anything for the first five years of ownership,” Inglis said.
The government program has resulted in the houses getting more substantial renovations than most private investors would make.
Eric Goosen, a St. Clair Shores broker with Real Estate One, said he is marketing nine NSP houses in that community priced from $60,000 to $109,900. They all needed major work, including foundation repairs, kitchen and bathroom updates, furnaces, drywall and windows.