I wrote an offer today on a house that’s listed for $19,900. While it is beat up, it still is a house, on 1.2 acres, for $19,900. As my friend Jesse said…”that’s like buying a car!” and it got me thinking. The last time I sold a house in this price range was about 6 years ago, and that was a single wide mobile on a tiny lot in Thompsonville. Don’t take this to mean that we’re back to pre 2001 levels across the board, but there are some great deals out there.
So good, in fact, that Tammy and I are talking about selling our house. We know we won’t net out what we might have hoped not long ago, but it’s all relative. There are deals available that I’m having trouble passing on, and so we can make it up on a purchase.
Word is starting to get out, and the really good deals don’t last for long before they’re snapped up.
I read an interesting analysis comparing and contrasting the foreclosure issue in Michigan and Ohio to that in California and Florida. Here’s that article.
Enjoy
Matt, In Phoenix things aren’t quite as low as that but there are some great deals in this market. I keep telling people, “If you have the money or credit, now is the time to buy for a long-term investment.” Things will turn around and anyone who has property will make out well. Thanks for the post, Travis Schnepp, REALTOR®, Dan Schwartz Realty, Inc, Phoenix, AZ
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Thanks for your comments, Travis. While this home is an extreme example there are great values across our range of prices. And you’re right about real estate as an investment- it’s great for long term. A lot of people lost sight of that in the property flipping craze that hit many areas of the nation in the past few years.