Homes for sale for $100 in Detroit
Bob Morris @ Mar 2nd 2008 14:45 - Category: Credit crisis
Yes, $100. That’s how bad things are in Detroit. If the American economy catches a cold, then Detroit often ends up in the hospital.
Bizarrely, some of the listings sternly say buyers must prove they have the money before proceeding further. Ok, I have five 20’s in my pocket…
Many listings look like foreclosures or bank auctions but appear to be listed in bulk with the same cut-and-paste text (complete with misspelled words) saying that regardless of price, the agent gets $1250 commission.
That the homes had to be listed at all shows how desperate it must be there, as no buyers appeared to grab the properties first. Maybe they’re waiting for it to drop to $25?
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