Crazy House Prices In America

subfreq

By Crazy, I mean really crazy. Like under a grand.

Did anyone else here on several radio stations this morning about property being offered in the States for hundreds of dollars? It was mentioned on several radio stations yet they didn't call out a link. Supposedly due to the sub prime melt down you can get property at unthinkable prices.

Just wondered if anyone had heard this today or knew of links online to confirm it.

I should add that I'm asking more out of interest than intent as I think the old maxim "if it's too good to be true it probably is" applies here but as it was reported today I wanted to follow up on it a bit.

Cheers.

BingoWings

Houses from $100....a little less than €65.

http://www.realtor.com/search/searchresults.aspx?ctid=2959&typ=7

karen3212

Does anyone know how you'd find out how much taxes could be owed to the various states on houses over there?

seamus

BingoWings wrote: »

Houses from $100....a little less than €65.

http://www.realtor.com/search/searchresults.aspx?ctid=2959&typ=7

To be fair, none of the houses on the first page had been built in the last fifty years. Most of them seem to be fit for demolishing.

I'm not very savvy on the US house stuff, but afaik once you're outside of any major cities, land is dirt cheap. So 1/8 acre site on a small road a mile outside of some backwater town would cost next to nothing. This is probably what you're seeing in the above.

The_Conductor

seamus wrote: »

To be fair, none of the houses on the first page had been built in the last fifty years. Most of them seem to be fit for demolishing.

I'm not very savvy on the US house stuff, but afaik once you're outside of any major cities, land is dirt cheap. So 1/8 acre site on a small road a mile outside of some backwater town would cost next to nothing. This is probably what you're seeing in the above.

Not only that- its a piss-poor area in Detroit, with the second highest murder rate in the US.......

Victor

Estimated Payment: $2 Per Month*

BostonB

Location, location location. 100% of a worthless properly is, 0.

subfreq

The houses being alluded to were in Texas and supposedly more in line with Cribs than Cops.

On the outset it sounded unbelievable but Gerry Ryan was saying his entire back room team were in the process of buying the better part of a street.

iguana

The property taxes in some of those areas can run to five figures annually.

Supercell

Not only in Detroit , heres a 2 bed apartment in Brooklyn for $1600
Can this area really be worse than Darndale, Finglas or Jobstown in Dublin?

AARRRGH

That's insane.

Does anyone know for certain how much property taxes on these kind of places could be?

Would there be any advantage (e.g. easier to get a green card) to owning one of these properties?

jdivision

It looks like the projects though so you'd have to be a bit wary. Although area sounds grand comparatively (old article though)
http://query.nytimes.com/gst/fullpage.html?res=9A01E6DF1F31F933A05756C0A96F958260&sec=&spon=&pagewanted=1

At the same time you can buy houses in South Hill and Moyross here for e25k

Victor

dublindude wrote: »

Does anyone know for certain how much property taxes on these kind of places could be?

A friend in an OK neighbourhood in California is spending $7,000 a year.

The_Conductor

Victor wrote: »

A friend in an OK neighbourhood in California is spending $7,000 a year.

Ditto- I've a first cousin living in an LA suburb paying just over $6k annually.

Edit- my brother and sister pay over £3,000 per annum property tax in London.

We only abolished property taxes here in the early 80s- but we could very well be looking at bringing them back from around 2010 onwards. Wonder what that will do for property here?

iguana

smccarrick wrote: »

Edit- my brother and sister pay over £3,000 per annum property tax in London.

It's not property tax in London, it's council tax. It is paid by owners and renters alike as it is a tax on council services like park, libraries and gyms which are available to residents whether they own or not. Though it is linked to the value of your property, but its a loose linking.

The Cannibal

Does anyone know any good sites to research the American property market? I'd like to get myself educated on the desirable areas ASAP.

dazberry

American Estate Agent:
**REDUCED****FIRE DAMAGE HOME** ENTER AT OWN RISK ...

Irish Estate Agent:
REDUCED TO SELL!!!!. A wonderful opportunity for investors and FTBs alike to own this fantastic property with great potential – would suit young professionals in this up and coming area – close to all amenities with great shops and schools and only 10 minutes from town. Finished in a black/dark chocolate colour, needing some TLC – and with some decoration and just a little imagination make this your dream home.

andreas_220D

dazberry wrote: »

American Estate Agent:
**REDUCED****FIRE DAMAGE HOME** ENTER AT OWN RISK ...

US$ 500

dazberry wrote: »

Irish Estate Agent:
REDUCED TO SELL!!!!. A wonderful opportunity for investors and FTBs alike to own this fantastic property with great potential – would suit young professionals in this up and coming area – close to all amenities with great shops and schools and only 10 minutes from town. Finished in a black/dark chocolate colour, needing some TLC – and with some decoration and just a little imagination make this your dream home.

€ 500000

mikemac

andreas_220D wrote: »

US$ 500

€ 500.000

Even with the exchange rate, not much difference there.

Sorry, I've missed your joke if there is one

andreas_220D

micmclo wrote: »

Even with the exchange rate, not much difference there.

Sorry, I've missed your joke if there is one

same object, same specs (burnt down), price in the US = 500 (fivehundred), price in Ireland = 500000 (half a million).

The_Conductor

micmclo wrote: »

Even with the exchange rate, not much difference there.

Sorry, I've missed your joke if there is one

The continental way of counting uses a fullstop, rather than a comma, to denote thousands.

DaSchmo

$500 for a house in one of the rougher parts of Detroit is crazy? Not at all. These areas are no-go zones where the average pale skinned paddy would literally be shot at if he was stupid enough to show up. You couldnt pay 99.99% of americans to set foot in a place like that let alone buy or rent property and actually live there.

You want crazy? Try this.

www.daft.ie/1264722

mikemac

smccarrick wrote: »

The continental way of counting uses a fullstop, rather than a comma, to denote thousands.

I think you're right
Apologies Andreas

BostonB

Since when did location become unimportant?

Red Hand

DaSchmo wrote: »

$500 for a house in one of the rougher parts of Detroit is crazy? Not at all. These areas are no-go zones where the average pale skinned paddy would literally be shot at if he was stupid enough to show up. You couldnt pay 99.99% of americans to set foot in a place like that let alone buy or rent property and actually live there.

You want crazy? Try this.

www.daft.ie/1264722

Jesus thats a portocabin!

subfreq

DaSchmo wrote: »

in a place like that let alone buy or rent property and actually live there.

You want crazy? Try this.

www.daft.ie/1264722

My god, this country really has gone crazy!

DaSchmo

subfreq wrote: »

My god, this country really has gone crazy!

Wanna buy my '91 Nissan Micra? Only €55,000

In fairness, there is absoloutley no chance in hell of them even getting half that figure but the mindset of the type of person who believes that their wooden shack in Wexford is somehow "worth" 700k almost 18 months into a property crash defies belief.

Unbelievable.