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What do you think of $1 house?


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#1 JohnsonBox

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Posted 17 March 2013 - 09:28

Why does the owner want to sell it?

Is it because the worth of the house is evaluated too high by government (so that the owner has to pay too much tax)?

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#2 XerXis

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Posted 17 March 2013 - 09:32

because it's a burned out ruin?

#3 PeteWhite

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Posted 17 March 2013 - 09:34

You only have to look at the picture to see why. Looks like there has been a fire and a lot of damage caused. Probably would have to demolish and rebuild.

#4 lunamonkey

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Posted 17 March 2013 - 09:40

Isn't the land alone worth something. A plot of land like that for building in the UK would be 10,000s alone :s

#5 remixedcat

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Posted 17 March 2013 - 09:45

the poor agent is gonna get 2-10c commission on that sale.

#6 Squirrelington

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Posted 17 March 2013 - 09:48

Isn't the land alone worth something. A plot of land like that for building in the UK would be 10,000s alone :s


The issue is that there is plenty of land still available outside of major cities, it is Detroit (which is going through major problems right now) and that house would almost certainly have to be demolished and rebuilt on a small plot of land. Most people would likely either want to buy land then develop it or buy a house and improve it. In this case I doubt either is possible due to the condition of the house so you'd have to take on demolition costs on top of everything else all the while paying taxes on land you can't even feasibly use until your end result is met.

#7 remixedcat

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Posted 17 March 2013 - 10:03

and there are far better pieces of land to develop on in an area with civilization.

#8 sc302

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Posted 17 March 2013 - 15:52

There could be a few issues with that. One, it will need to be demolished to be rebuilt. Another, there may be a town ordinance where you can't build on anything under x amount of land. Tearing down and building new could be considered new development and the new owner may not be able to build on that land once the existing structure is torn down. Existing structure will be grandfathered in, but once it is torn down it no longer is an existing structure. Stupid laws. The only thing they may be able to do is to split the land and sell it to either side but neither side may want it because it will increase their taxes. It really is a crappy situation to be in.

#9 arachnoid

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Posted 17 March 2013 - 16:09

Another, just needs a touch of paint for $2200 on 0.9 acres

http://www.realtor.c...?ex=MI549531805

Seems the realter doesnt go in much for descriptions on this site

Posted Image

Is this a run down area,depression or tornado damage thats got all these houses going so low?
[url=

#10 notchinese

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Posted 17 March 2013 - 16:19

Another, just needs a touch of paint for $2200 on 0.9 acres

http://www.realtor.c...?ex=MI549531805

Seems the realter doesnt go in much for descriptions on this site

Posted Image

Is this a run down area,depression or tornado damage thats got all these houses going so low?
[url=


Detroit

#11 arachnoid

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Posted 17 March 2013 - 16:20

And Detroit is an issue because?........

#12 Crisp

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Posted 17 March 2013 - 16:22

And Detroit is an issue because?........


No Google Fibre... duh.

#13 tiagosilva29

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Posted 17 March 2013 - 16:26

And Detroit is an issue because?........

The Lions' defense offense sucks.

#14 Izlude

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Posted 17 March 2013 - 21:41

let me buy it

#15 Growled

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Posted 18 March 2013 - 00:42

I'm not sure they could pay me to take those houses off their hands.