Deal of a lifetime

[grEnAlEins]

http://news.yahoo.com/s/ap/20081001/ap_on_fe_st/odd_cheap_home

I knew the real estate market was bad, but holy cow!!

[Hilltop Customs]

I think the $200 xmag was a better deal


hammerhead

[grEnAlEins]

I do not have a hammer here right now. I am in the process of securing one (walking to True Value on Friday) and waiting for proof that is really was so cheap.

[Ruler_Mark]

there were several homes sold for under a grand in downtown chicago some homes in cali sold for same thing. all foreclosures. forget the article that I read was a few months back.

[grEnAlEins]

I know that has been going on for distressed properties all over, but a buck and change is ridiculous.

I know things in that part of Michigan are bad, but holy cow... For an auctioned property to go for that low is beyond comprehension.

[trevorjk]

I know that has been going on for distressed properties all over, but a buck and change is ridiculous.

I know things in that part of Michigan are bad, but holy cow... For an auctioned property to go for that low is beyond comprehension.

$851.75. thats what it cost to buy the house after paying for back taxes.

[Hilltop Customs]

$851.75+the costs of yard cleanup

thats why I think the xmag was a better deal

[grEnAlEins]

Still, not even $900 for a freakin house! Yeah it is in an area that is not the best, but still...

[Hilltop Customs]

id be only looking at the land value since it looks so run down from the outside, I'd imagine inside is worse. And they stated that its a declining area, so the property is probably worth squat. While it may be possible to fix up, I dont see it being worth the effort.

flipping houses isnt really something I'm interested in though, even though I dont mind home improvements at all, I'd just want the investment of my time to go into something I'm keeping.

IDK, I'm looking at it from the perspective of buying to resell. It is a bargain if you need a place to stay though, hell thats less than 2 months of my rent if I cleaned up the yard. Makes me wish I had the money to buy a house close to campus then resell after I was done...even with the downturn in housing, I would have come out ahead of renting.


damnit I have to wake up in 4 hours...

[skife]

lol, declining area....


you guys ever been to flint?

[bornl33t]

Trust me, there are some homes where tearing them down is going to save you money over repairing them. Add to that neighborhood and you have yourself "a house" that isn't even worth 800$. I think this person is not going to make a dime off this house.

If it's too good to be true, it usually is.