Buy a House for Only 1 Dollar – Only in Detroit Baby
Yesterday we had the dead leaving Detroit in droves, now we have the 1 dollar home. Yes, you heard me right, a home for 1 dollar. 100 pennies. Your child could buy it with their allowance. A sawbuck. See below for a picture of the 1 dollar home.
Heck, it costs 230 dollars for Barbies 3 Story Dream House, but in Motown you can get the real thing for a buck.
Just don’t tell my 12 year old, he would buy it and I would lose all my leverage. 
The sale price of the home may be an anomaly, but illustrates both the depths of the foreclosure crisis in Detroit and the rapid scuttling of vacant homes in some of the city’s impoverished neighborhoods.
The home, at 8111 Traverse Street, a few blocks from Detroit City Airport, was the nicest house on the block when it sold for $65,000 in November 2006, said neighbor Carl Upshaw. But the home was foreclosed last summer, and it wasn’t long until “the vultures closed in,” Upshaw said. “The siding was the first to go. Then they took the fence. Then they broke in and took everything else.” via Detroit News
Great points Tom - the flavor of the day solution is only adding to the instability and volatility.
When Washington ...
I see it all too often where owners decide to be investors without understanding that tenants have rights. Its ...
cont from above post.....
please contact me via e-mail if interested in the home listed
above.
jonieckstrom@yahoo.com 
This is a topic currently being debated in our local Real Estate Board here in Toronto Canada. Online, we ...
A property management company should realize that most potential tenants now will have a foreclosure or bankruptcy on their credit....as ...
my boyfriend and i just fell for the scam ourselves, it's sad what they are able to do. I am ...
Now is an excellent time for business people to buy if they have decent credit (I did not say excellent ...
I just finished emailing some guy from "West Africa" who gave me the same exact bs. He even went so ...
Comment by Prince of thrift on 13 August 2008:
There was a time when the $1 price for distressed homes was common place every where. The city of Topeka (KS) used to sell foreclosed homes for $1 to low income people, who then agreed to fix up (repair) those homes.
However, many cities have moved away from that practice in favor of other programs to assist those low income (often 1st time) home owners.
Comment by phyllis harb on 14 August 2008:
This is a great (imaginative) post!
Pingback by Will Bush cancel the elections: Presidential Directive 51 - Page 5 on 10 November 2008:
[...] Originally Posted by motownguy I’ll tell you this much … they’re right about the number of empty houses in Detroit. There are some blocks that are almost completely vacant. Large tracts within the city are ghost-town like. It doesn’t quite have that post-apololyptic feel, but you can see it on the horizon. have any more houses sold for 1$ or similarly silly values Buy a House for Only 1 Dollar – Only in Detroit Baby : The Real Estate Bloggers [...]
Comment by George on 29 January 2009:
A sawbuck is 10 dollars, not 1 dollar.
Comment by Marc Faulkner on 15 February 2009:
We have a package of 10 homes available in Detroit for only $25,000. All need repairs but there is huge potential here. Serious buyers call (269)353-9238 today.
Pingback by The Weekly Poll: How has the Knoxville market fared compared to the rest of the country? | All Around KTown on 23 August 2009:
[...] may not be true. True, sales are down a good bit and so are prices, but I haven’t seen anyone giving away homes for a dollar or offering a buy one get one free deal anywhere around here [...]
Comment by Jude Baruch on 2 October 2009:
I need to purchase a home for one buck. Please let know the location of one. Thanks!
Comment by Derrick on 20 October 2009:
Where can I find a listing of homes for sale for a dollar?
Comment by Derrick on 20 October 2009:
where can i find a list of homes for a dollar in D3etroit?
Comment by tommy on 15 January 2010:
Do you have any listings of $1 homes in Washington D.C.? Thanks.