This is a real article. Here is the link incase you thought I was making it up.
http://www.foxbusiness.com/story/markets/economy/house-sells-dollar/
In what might be considered a new low for the housing market, a home in Detroit sold for $1.
The home, located at 8111 Traverse Street, close to the Detroit City Airport, was foreclosed upon last summer, after it was purchased for $65,000 in 2006, according to an article in The Detroit News.
The bank was so eager to sell the foreclosed property, it lowered the price to $1 in a final attempt to find a buyer. According to the newspaper, 14 days after the property was listed for $1, a local woman purchased the house as “an investment property." The property taxes will run the new owner $3,900, in 2009.
At the time of sale, the home had been stripped of its siding, fence, light fixtures, copper plumbing—even the kitchen sink had been taken. Boards that were used to board up the windows were also stolen and used to board up a house down the street, according to The Detroit News.
I think the new owner should go down the street and steal her boards back.
http://www.foxbusiness.com/story/markets/economy/house-sells-dollar/
In what might be considered a new low for the housing market, a home in Detroit sold for $1.
The home, located at 8111 Traverse Street, close to the Detroit City Airport, was foreclosed upon last summer, after it was purchased for $65,000 in 2006, according to an article in The Detroit News.
The bank was so eager to sell the foreclosed property, it lowered the price to $1 in a final attempt to find a buyer. According to the newspaper, 14 days after the property was listed for $1, a local woman purchased the house as “an investment property." The property taxes will run the new owner $3,900, in 2009.
At the time of sale, the home had been stripped of its siding, fence, light fixtures, copper plumbing—even the kitchen sink had been taken. Boards that were used to board up the windows were also stolen and used to board up a house down the street, according to The Detroit News.
I think the new owner should go down the street and steal her boards back.
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The property taxes are $3,900? That's insane. Even in Minneapolis, where our mayor drops millions on fountains and bicycle education, the property taxes aren't this bad.
If liberals ruled the world, this nation would be one big Detroit.