House listed for $2,450?

Discussion in 'Teacher Time Out' started by Caesar753, May 9, 2009.

  1. Caesar753

    Caesar753 Multitudinous

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    May 9, 2009

    My hoosband and I are in the very early stages of buying our first home. We've been browsing real estate web sites for the past couple of weeks.

    I saw on the Century 21 page a listing for a 2700 sq ft house for $2,450. That's gotta be a mistake, right?

    I have no idea how the whole process works. I've heard of situations where you can buy a house for just the property taxes if it's in default or something. Could that be what's going on here? Or is it more likely that this is just a typo or something?

    Hmm....

    (Sorry if I sound dumb. :lol:)
     
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  3. Upsadaisy

    Upsadaisy Moderator

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    It's gotta be $245,000
     
  4. sevenplus

    sevenplus Connoisseur

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  5. Proud2BATeacher

    Proud2BATeacher Phenom

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    I saw a beautiful 5 bedroom one listed yesterday for $1! I think it was used in illegal activities or bought with money gained from illegal activities.
     
  6. chebrutta

    chebrutta Enthusiast

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    Hmm... I'm not sure how it is out in your neck of the woods, but here the housing bubble burst and we've got gorgeous 4 and 5 bedrooms houses going for $30k - $75K. If someone defaulted, it's possible they meant $24,500. But I think $2450 must be a typo.
     
  7. TeacherNY

    TeacherNY Maven

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    That's a cheap house! The prices have gone down a bit now but when we bought our house the prices were high and even a house that was falling down was 200k!!
     
  8. TeachOnTheBeach

    TeachOnTheBeach Rookie

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    well in Nevada it could be :)
     
  9. Caesar753

    Caesar753 Multitudinous

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    Thanks for the link! It says that you can buy homes for a 50% discount. I had no idea!

    There are only a few houses listed in Las Vegas...maybe like 20 or so. It looks like they're all in "revitalization" areas, which might not be where we're looking. Some houses seem to have potential, though.
     
  10. smalltowngal

    smalltowngal Multitudinous

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    It could be that the owners of the house are wanting to rent it out, and that is the monthly rent. But you have the option to buy as well. I've come across a few of these on real estate websites.
     
  11. chemteach55

    chemteach55 Connoisseur

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    or it could be $2,450 but need $240,000 work of work to make it livable. We see this in my area all the time.
     
  12. Ima Teacher

    Ima Teacher Maven

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    I've seen some listed with the mortgage payment on houses that are being forclosed on by the bank, and the buyer just takes over the payments for the life of the loan.
     
  13. KinderMissN

    KinderMissN Companion

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    The link for the good neighbor program is very interesting! Didn't know they had a program like that!
     
  14. Aliceacc

    Aliceacc Multitudinous

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    There's no way it's legit.

    Either it's in Love Canal or on some other Toxic Dump.

    The land itself should be worth far far more than that.

    You know what they say: If it looks too good to be true, it probably is.

    RUN from this house!!
     
  15. 12345

    12345 Guest

    Aug 17, 2011

    Has anyone used the Good Neighbor Next Door HUD program here in Texas? The property has to be in the lottery stage, so i was wondering if it is possible to get a good deal at all.
     
  16. Aliceacc

    Aliceacc Multitudinous

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    The median house price in Nassau County LI is something like $456,000.

    $2500 wouldn't be six month's property tax on the house of anyone I know.

    Pass it by.

    *****************************************

    ETA:Oops, sorry, I only read page 1 of the replies.

    I didn't realize that I had already responded.

    Funny, though, that 2 years after my first response, my current instinct is so similar.
     
  17. sjnkate

    sjnkate Rookie

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    Some real estate agents will list the house for the monthly payment price. It sounds like that's what happened here. Also, we found that a lot of houses listed seem to be short sales that already have offers in the works.
     

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