From CNN MONEY
“Radical cheap: $1,000 homes
By Les Christie, CNNMoney.com staff writer
Last Updated: April 14, 2009: 11:37 AM ET
In places like Detroit and Cleveland, banks are unloading rundown homes for next to nothing. And they’re tremendous bargains, even after factoring in renovation costs.
NEW YORK (CNNMoney.com) — The real estate market is so awful that buyers are now scooping up homes for as little as $1,000.
There are 18 listings in Flint, Mich., for under $3,000, according to Realtor.com. There are 22 in Indianapolis, 46 in Cleveland and a whopping 709 in Detroit. All of these communities have been hit hard by foreclosures, and most of these homes are being sold by the lenders that repossessed them.. . “
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http://money.cnn.com/2009/01/08/real_estate/thousand_dollar_homes/
