Thursday, October 02, 2008

Homes: Saginaw $1.75, Moscow $99m, Detroit $1

House for $1.75 in Saginaw, Michigan:
Townhouse for $99 million in Moscow:
And just in case anybody felt like they lost out on the Saginaw home for $1.75, there are actually 5 homes for sale in nearby Detroit for only $1, including several two-unit properties (one pictured below). Just wondering, would it take a full-price offer to get this one, or would they entertain offers below the list price?


12 Comments:

At 10/02/2008 10:56 AM, Anonymous qt said...

Darwin Martin House designed by Frank Lloyd Wright was abandoned by its owner during the Great Depression because no buyer could be found.

 
At 10/02/2008 11:51 AM, Blogger randian said...

Those Michigan homes probably have substantial back taxes to pay off. They might even be more valuable if the structures were torn down.

 
At 10/02/2008 12:40 PM, Anonymous Eric H said...

This must be my new "portfolio" as an "investor" thanks to the "maverick".

 
At 10/02/2008 1:26 PM, Anonymous qt said...

Revisionist history really shows, eric.

Perhaps, you might actually substantiate your claim with a few salient facts...

At the risk of being bored to tears...so how did John McCain ruin your portfolio?

 
At 10/02/2008 2:09 PM, Blogger K T Cat said...

So why doesn't one of those green organizations buy these houses, tear them down and allow the land go back to nature?

 
At 10/02/2008 5:14 PM, Anonymous qt said...

kt,

..because they have no understanding of economics! A great many people oppose demolition on the grounds of social justice, historical significance (even if it is cheap post WWII pillboxes), urban streetscape/neighbourhood character, etc.

That it would work is another matter. There is a town in the U.S. that successfully returned abandoned houses to prairie but I was not able to find the article.

 
At 10/02/2008 9:02 PM, Blogger OBloodyHell said...

> At the risk of being bored to tears...so how did John McCain ruin your portfolio?

One of McCain's security people bumped into him at an airport and eric dropped his portfolio. The crowd trampled on it and got it all dirty and crumpled and stuff. Eric had to buy a brand new one before going to his eighth grade Social Responsibility class. It cost him his whole week's allowance!!

 
At 10/02/2008 9:07 PM, Blogger OBloodyHell said...

This comment has been removed by the author.

 
At 10/02/2008 9:22 PM, Blogger OBloodyHell said...

> So why doesn't one of those green organizations buy these houses, tear them down and allow the land to go back to nature?


No, no, no, no, no-no, no-no, NO!!

Get with the program, kt!

Greens don't spend their money!

They spend your money.

Spending YOUR OWN money is Capitalism.

SPENDING someone ELSE's money is Marxism.

And you can't spell "green" without m-a-r-x.

Don't ask.

It's a new liberal spelling technique. Think "Ebonics"... With Libtardics, you spell EVERYTHING with m-a-r-x. Business? m-a-r-x. Environment? m-a-r-x. Life? m-a-r-x. Government? m-a-r-x (actually, no other letters are allowed, Comrade. Pozhaluista!). The only thing you don't spell with m-a-r-x is Marx. You're not supposed to say or write the name of Your God, you know. Just call Him: "He Who Explains All Things". That's with five m's, five a's, five r's, five x's, and a great big "O" for his prophet and our savior (Another aspect of libtardics -- all sentences and phrases must be spelled with a great big "O").


.

 
At 10/02/2008 10:30 PM, Anonymous qt said...

OBH

Is that the letter O or the number zero?

BTW, I was wondering where you can buy a clothes dryer for $200.00? Compared to a chef's knife that's a steel steal.

 
At 10/03/2008 3:41 AM, Blogger Plamen said...

To add to randian's point: these houses also seem to have been properly gutted of anything valuable in them (judging by the photos), and thus are basically shacks, and even that's probably unfair to many shacks. Furthermore, they are likely to be in neighborhoods where your neighbors might be less than savory - say, of the crack-dealing type. And finally, you might have to fight off squatters, which, sadly is a lot harder and more time-consuming than most people imagine, unless you want to land yourself in jail on assorted charges of the assault and battery variety.
Sad to say it, but Detroit seems to be the Zimbabwe of the US of A these days.

 
At 10/04/2008 6:05 PM, Blogger Ken Roberts said...

The Detroit house would probably have some value just for the bricks alone. Unless there are significant back taxes (or future taxes) or other big charges in addition to the $1.00 asking price, it should be a good buy. Worth investigating perhaps.

 

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