Detroit foreclosed home sells for 1 dollar!
From the Detroit News:
This quaint little Detroilet area home (below), last sold in 2006 for 65K, the home foreclosed last summer, and the home was re-listed for $1,100. No takers… In the meantime, the house was stripped down by looters and squatters. So the home was listed for $1. No one’s seen a deal like that since you last cheaply bought out Baltic Ave. from your dim-witted friends at Monopoly.
Talk about a motivated seller. Obviously not motivated by greed. Apparently it’s already cost the bank that owned the home 10K, and constant looters and squatters weren’t helping the situation.
The siding was the first to go. Then they took the fence. Then they broke in and took everything else.”
The company hired to manage the home and sell it, the Bearing Group, boarded up the home only to find the boards stolen and used to board up another abandoned home nearby.
Scrappers tore out the copper plumbing, the furnace and the light fixtures, taking everything of value, including the kitchen sink.
The kitchen sink thing sounds like a bad pun, but the fence?!? Is there a big market for used fencing? I know there is for copper as I’ve heard many a story about copper wiring and piping being ripped off from abandoned homes, job sites, and even more brazenly, freeway medians. And stealing the plywood that had been boarding up the home to board up yet another home…. really? I mean, what does plywood cost anyhow, a couple of bucks a sheet? Well of course that’s too much because you could buy a few houses for that kind of green.
But most disconcerting of all, is stripping the siding of the side of an abandoned house. Really though, what could that be good for? ….
Oh, of course…. to line your shower, now who’s laughing? Only shower on the block with a 30 year weatherbeater warrantee, ….bitch to clean soap scum off though.
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August 27th, 2008 at 6:43 am
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January 26th, 2009 at 11:07 am
I AM HOMELESS AND I AM THINKING ABOUT BUYING A DOLLAR HOME TO FIX UP. I WENT TO SCHOOL TO LEARN HOW TO WORK ON HOMES AND HAVE BEEN DOING THIS KIND OF WORK FOR PEOPLE SCENTS 1987. I AM 41 NOW AND I THANK IT IS TIME I WORKED ON MY OWN HOME. ARE THESE HOMES REALY FOR $1.00? TAHNK YOU VERY MUCH . MR.JOHN P. KUYKENDALL mrjohnkuykendall08@yahoo.com
May 14th, 2009 at 8:45 am
It is sad that so many home owners and landlords here in Homosassa, Florida are dealing with bad tenants who destroy their homes, and unfair law practices that tell landlords they are forced to allow destructive and even threateningly harmful tenants to stay there, then when a home owner finally gets them out, their only recourse is to take the ex-tenant to civil court, where they are only offered a judgement, and they never see restitution for the damages…! Why do lawmakers not care about home owners investments and do nothing to change the laws that drive most investers into bankrupcy due to the out of pocket cost of doing repairs to their property.! Over 90% of the time the ex-tenant gets away with destroying a property owners property, and Most Landlords are as fed up with it as I am…! Between tax liens sales, bank forclosures and Home Owners going broke due to NO POLICE PROTECTION due to stupid laws and stupid legal policies, WHY would anyone have incentive to be an invest in Home ownership in this country? Two of my homes where recently destroyed by bad renters, and I hire Herb the plumber, Andy the window and door man, Lee the cabinet man, ect, ect, yet I dont see any bailout on the horizon…! Shame on our legal system and the destructive policies in this country that have led to my housing crisis…!