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House Sells For $ 1.75

896 Views 3 Replies 4 Participants Last post by  Wolf6151
Is this an indication of where the housing market is going.

you have to wonder if she will even get her $851.75 back

SAGINAW, Mich. - With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.
"I am going to try and sell it," she told the newspaper. "I don't have any plans to move to Saginaw."
Smith said she hasn't seen the property or visited Saginaw, which has been hard-hit by economic troubles in recent years.

There's a notice on the door of the home saying a foreclosure hearing is pending, the newspaper said. She must pay about $850 in back taxes and yard cleanup costs.

The Saginaw News said it could not reach the seller, Southern Investments LLC, for comment.


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That picture is not the one I saw posted with another story on this. Will try to find it. One I saw was a 2 story brick, more appropriate for Saginaw.

Was joking with someone the other day that this "financial crisis" was not that bad and to let me know when houses started selling for a Dollar.
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