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.
More from this article here.






Home news, info, reviews.