Over 18,328 property transfer affidavits were filed between 1/11 - 1/15 with the City of Detroit. 16,004 of those transfers were the Wayne County Treasurer finalizing the transfer of ownership from the 2015 Tax Foreclosure Auction, making the county the third largest landholder in the City of Detroit behind the Detroit Land Bank and the City of Detroit.
Breaking Down The Wayne County Transfer
This bundle of unsold properties represent $80,414,149.40 in unpaid taxes. We used data from Motor City Mapping to analyze the bulk of these properties and found that over half of the properties have structures and over 6,000 of those structures are in either fair or good condition. Out of the 8,000+ structures over 6,000 are in either good or fair condition and 2,526 are occupied.
Property Condition
It's likely that most of these properties are heading to the Detroit Land Bank in the next few weeks. Check out the map below to get a preview of new DLBA auction properties or side lots. Click a neighborhood below to see what's available.
The Rest
The other 2,324 properties transferred last week were primarily privately owned. 657 of those transfers were properties that were bought through the Wayne County Tax Foreclosure auction last fall. We were able to use the auction data to connect BIG TEX PROPERTIES I LLC to Theodore Bank who purchased 77 properties for $227,632. Since the auction, 69 of these 77 properties have been separated into 7 different LLCS with either Joseph Burke or Nathan Helzer as the registered agent. This tactic isn't anything new, it's used quite often all over the country, but it's important to note because it happens in Detroit and often times can make the process of contacting the owner responsible for caring for properties extremely difficult. Check out the list of Burke's LLCs:
Properties NOT transferred by the Treasurer last week
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