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JohnsonBox

What do you think of $1 house?

18 posts in this topic

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)?

post-15205-0-06588000-1363512486.jpg

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because it's a burned out ruin?

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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.

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

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

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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.

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

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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.

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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

0669b94c3663a72a8a11632e2367b99f.png

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

[url=

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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

0669b94c3663a72a8a11632e2367b99f.png

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

[url=

Detroit

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

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

No Google Fibre... duh.

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And Detroit is an issue because?........
The Lions' defense offense sucks.

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let me buy it

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

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If I was one of the neighbors I would just buy it, tear it down and have a huge yard.

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

Parts of Detroit are either a wasteland filled with abandoned houses from the housing crash or a warzone of crime. Many neighborhoods are marked to be demolished.

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Burnt houses make me sad.

Also, it looks like the roof is caving in. The porch/stairs have seen better days.

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