Ok Detroit Michigan members... I have a few questions...

I have heard about Detroit on the news a lot lately… i.e. foreclosures etc.

I was just playing around on Realtor.com and saw there are 11,754 homes for sale that are 3+br that are under $50k. Out of those, 5500 of them are under 20k.and 1600 of them are under 5k... What? Are you serious?

Also in some of the listings they say things like…

- SEV
- Buyer must obtain city inspection and sign ACR with the city of Detroit
- Buyer responsible for any municipal requirements

What does all this mean?

Thanks,