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Super-cheap homes in USA for sale

Thursday 5th April 2012

The U.S. property crash means that the market across the pond is now a haven for bargain hunters, with plenty of homes available for under $10,000 (£6,300), the Daily Mail reports.

An article in yesterday’s (Wednesday) edition of the newspaper said that there are literally thousands of homes across the USA selling for “unbelievable bargain-basement prices” as a consequence of the collapse in the country’s property market. Property prices are up to 80% cheaper in some parts of the USA compared to the market peak of 2007.

The average price of a residential property in USA currently stands at $166,200 (£104,500), down from $173,100 (£109,000) in 2010. But the housing market meltdown means today there are at least 100 homes in each of the 10 largest housing markets in the country that are listed for $10,000 or less.

Daily Mail highlight:

All yours for $10,000: A house at 18700 Lauder Street in Detroit, Michigan, is 1,362 square feet and offers three bedrooms and three bathrooms.

An $8,500 bargain: A house at 2448 Blackwater Drive is just off Lake Catherine in Orlando, Florida

Rock bottom? A $12,000 house in Florida exemplify the glut of super-cheap properties that are clogging the real estate market

Atlanta has 234 houses on sale for less than $10,000. The Baltimore market lists 207 and Chicago has 165, according to the National Association of Realtors.

In Detroit, Michigan, which has been hit hardest by both the recession and the housing crash, 2,300 homes can be bought for less than $10,000.

Buy it for $9,500: A house at 2513 Birds Nest Cactus Court in Las Vegas, Nevada, offers 1,678 square feet and three bedroom and three bathrooms. It was built in 2003, near the height of the housing bubble Newly reduced to $10,000:

A 928 bungalow at 1577 Lakewood Avenue Southeast in Atlanta, Georgia, is sold as-is, but it offers 1,290 square feet and three bedrooms

Buy it from the bank for $7,900: A home at 18515 Winston Street in Detroit, Michigan, has 1,296 square feet and four bedrooms. Bank of America is trying to unload this foreclosure property.

The cheapest homes in the country are located in Detroit, Michigan, where the average price of a home is currently $53,800 (£33,900). This is followed by Toledo, Ohio ($75,700/£47,500), Lansing, Michigan ($77,500/£48,800), Ocala, Florida ($80,900/£51,000), South Bend, Indiana ($83,600/£52,600).

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Editorial Contact Details - Conor Shilling
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