The Cheapest Homes in America - Homes for $2 to $100

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[ARCHIVED THREAD] - The Cheapest Homes in America - Homes for $2 to $100

Posted: 3/17/2011 8:53:59 AM EDT

Most are in Michigan.

Link

$5

This one is $1.75. Although they'd probably take $1.25 if you offered it.

Posted: 3/17/2011 9:02:26 AM EDT

[#1]

In my home down theres a power plant selling for $1. But you have to restore it to working order.

-Foxxz

Posted: 3/17/2011 9:03:48 AM EDT

[#2]

They are that cheap because they have $50,000 in back taxes and liens.

Posted: 3/17/2011 9:43:32 AM EDT

[#3]

Quoted:
They are that cheap because they have $50,000 in back taxes and liens.

+ you have to demolish it and rebuilt it - new way can you restore those.

Posted: 3/17/2011 9:49:05 AM EDT

[#4]

Those are perfectly acceptable for Section 8 housing. They'll destroy the place anyways.

Posted: 3/17/2011 9:55:07 AM EDT

[#5]

Quoted:
They are that cheap because they have $50,000 in back taxes and liens.

This, or the property taxes are insane.

I have seen some houses in Detroit that have a selling price of $10k or so, but the annual property tax is $50-75k. The high taxes and corruption have absolutely killed the appraised value and selling prices of the homes.

Posted: 3/17/2011 9:56:58 AM EDT

[#6]

Quoted:

They are that cheap because they have $50,000 in back taxes and liens.

And the tax and insurance going forward will kill you.

Posted: 3/17/2011 9:58:29 AM EDT

[#7]

Quoted:
Most are in Michigan.

Link

$5

http://1.images.theweek.com/img/slide_0000/slide_full_193.jpg?36

This one is $1.75. Although they'd probably take $1.25 if you offered it.

http://2.images.theweek.com/img/slide_0000/slide_full_195.jpg?36

I thought about buying $100 dollars worth of these homes. I then realized that there is nothing that can be done with them, I would have to pay various deed and title fees, and all liens, back taxes and liabilities on the property would then be owed by me. No fucking thanks, I'd rather not be a real estate mogul.

Posted: 3/17/2011 9:59:03 AM EDT

[#8]

Needs judicious application of Israeli armored bulldozers.

Seriously... we should pool our cash and buy up a few neighborhoods. It could be our own little SHTF fantasy mall-ninja commune. Viva ARFCOMIA!!!

Posted: 3/17/2011 10:37:43 AM EDT

[#9]

Plus, the areas where these homes are one step above moghidishu. The only way you could do it would be to buy a whole block, demolish,...then bring in 24/7 armed guards who will shoot if need be. Build a 30-40ft wall topped with razor wire around the property with a set of heavy doors as the only way in/out. THEN bring in your stuff to build inside of that.

Posted: 3/17/2011 10:42:39 AM EDT

[#10]

Cheapest homes in America?

The time-honored cardboard box in the alley.

Posted: 3/17/2011 10:42:59 AM EDT

[#11]

The neighborhood is probably gone to shit, but it would be almost worth it just for the lot to build on.

Posted: 3/17/2011 10:44:18 AM EDT

[#12]

Quoted:
Plus, the areas where these homes are one step above moghidishu. The only way you could do it would be to buy a whole block, demolish,...then bring in 24/7 armed guards who will shoot if need be. Build a 30-40ft wall topped with razor wire around the property with a set of heavy doors as the only way in/out. THEN bring in your stuff to build inside of that.

That could be a good idea. Cheap houses in secure compounds.

Posted: 3/17/2011 10:44:27 AM EDT

[#13]

Quoted:

Quoted:

They are that cheap because they have $50,000 in back taxes and liens.

And the tax and insurance going forward will kill you.

That is, if you survive the gang violence...

Posted: 3/17/2011 10:45:31 AM EDT

[#14]

Quoted:
Those are perfectly acceptable for Section 8 housing. They'll destroy the place anyways.

Posted: 3/17/2011 11:44:31 AM EDT

[#15]

Yeah, but the busy bodies on the Arfcom HOA would be a mother fucker.

Posted: 3/17/2011 11:54:22 AM EDT

[#16]

Are the cheapest homes located where people vote conservative or liberal?

Posted: 3/17/2011 11:56:08 AM EDT

[#17]

How bout we pitch in and buy Detroit for a couple grand and burn it down.

Posted: 3/17/2011 12:12:50 PM EDT

[#18]

[span style='font-weight: bold;']Quoted:
... we should pool our cash and buy up a few neighborhoods.

I'd like to buy DETROIT.........and then "Clean House".......know what I mean?

Posted: 3/17/2011 12:22:02 PM EDT

[#19]

Quoted:

I'd like to buy DETROIT.........and then "Clean House".......know what I mean?

Boy do I!

That is what you meant, right?

Posted: 3/17/2011 12:30:10 PM EDT

[#20]

Quoted:

Quoted:

They are that cheap because they have $50,000 in back taxes and liens.

This, or the property taxes are insane.

I have seen some houses in Detroit that have a selling price of $10k or so, but the annual property tax is $50-75k. The high taxes and corruption have absolutely killed the appraised value and selling prices of the homes.

uh, what? 50K a year in property tax? Serious WTF there.

Posted: 3/17/2011 12:31:22 PM EDT

[#21]

Quoted:

[span style='font-weight: bold;']Quoted:
... we should pool our cash and buy up a few neighborhoods.

I'd like to buy DETROIT.........and then "Clean House".......know what I mean?

Posted: 3/17/2011 12:31:35 PM EDT

[#22]

Don't pay the taxes. Let them repossess the house...

Posted: 3/17/2011 12:44:50 PM EDT

[#23]

You could then have a nice place to smoke crack, or to dump dead hookers. You decide..

Posted: 3/17/2011 12:50:14 PM EDT

[#24]

Quoted:
You could then have a nice place to smoke crack, or to dump dead hookers. You decide..

Get BOTH!

Posted: 3/17/2011 12:56:41 PM EDT

[#25]

Does it come with the land?

Posted: 3/17/2011 12:58:34 PM EDT

[#26]

Quoted:

In my home down theres a power plant selling for $1. But you have to restore it to working order.

-Foxxz

Hamsters + wheels + alternators = profit.

Posted: 3/17/2011 1:04:07 PM EDT

[#27]

Quoted:

Quoted:
They are that cheap because they have $50,000 in back taxes and liens.

This, or the property taxes are insane.

I have seen some houses in Detroit that have a selling price of $10k or so, but the annual property tax is $50-75k. The high taxes and corruption have absolutely killed the appraised value and selling prices of the homes.

uh, what? 50K a year in property tax? Serious WTF there.

Yeah, that seems improbable.

Posted: 3/17/2011 1:17:19 PM EDT

[#28]

Quoted:
Those are perfectly acceptable for Section 8 housing. They'll destroy the place anyways.

Shit man. They would never think of putting those poor people from section 8 in a place like that. Have you ever seen the places they use? I used to install carpet, damn they had some nice places. You are right, they were always destroyed when the people moved out. But still.

Posted: 3/17/2011 1:20:39 PM EDT

[#29]

Quoted:

Quoted:
I'd like to buy DETROIT.........and then "Clean House".......know what I mean?

Boy do I!

http://img806.imageshack.us/img806/747/housecleaning.png

That is what you meant, right?

But OF COURSE!!!

Posted: 3/17/2011 1:23:58 PM EDT

[#30]

The really sad part is 50 years ago those houses were "homes", inhabited by decent hard working folks raising families.

The infestation that hit over the past few decades took care of that, though.

Posted: 3/17/2011 1:25:01 PM EDT

[#31]

Quoted:

Quoted:
They are that cheap because they have $50,000 in back taxes and liens.

This, or the property taxes are insane.

I have seen some houses in Detroit that have a selling price of $10k or so, but the annual property tax is $50-75k. The high taxes and corruption have absolutely killed the appraised value and selling prices of the homes.

uh, what? 50K a year in property tax? Serious WTF there.

Yeah, that seems improbable.

Nope. Corruption at it's finest. They appraise the houses for way over their market value to boost tax revenue. Then, the high taxes drives off buyers and lowers the value even more. I've seen houses where the property taxes are 5+ times the market value of the house.

Posted: 3/17/2011 1:30:49 PM EDT

[#32]

Somewhat the same issues as New Orleans. The city bought up some homes/lots and now they're dragging their feet on selling because they want some imaginary "fair" amount. Neighboring homes have been sold privately and rehabilitated for lesser amounts. Big city thinking.

Posted: 3/17/2011 3:00:11 PM EDT

[#33]

You would think someone would get the idea that they might actually get people to buy property if they would just waive all back taxes, then they could actually start getting some income from the property.

[ARCHIVED THREAD] - The Cheapest Homes in America - Homes for $2 to $100

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