The Voice of Orange County...Michael A. Caruso's Blog

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This home sold for only $6,900! Less than a car!

This forclosure home at 15461 Kentfield St. in Detroit needed little work and now has a new owner who will soon rent, an investor from the Chicago area named Kevin Holmes.

The quaint brick home looks like it would belong any middle-income Midwestern neighborhood. But in distressed Detroit, the home sold for $6,900 - less than most cars and a semester at a University.

While this was a great deal for the owner, its not for Detroit. These "giveaway-priced homes" are becoming more common in Detroit. Agents here say they get calls from prospective buyers all over the world wanting to see rock-bottom listings. 

While such a low price seems like an easy sale, there is still a lot of work that goes into it. Hopefully Detroit, like some other places in the US, can start seeing a turn around.

Read entire article Here

And thank you for making me Your Orange County Real Estate Connection.     

www.MichaelCarusoRealEstate.com

Best regards.                                                                                                               

Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI                                   

2007 President, Orange County Association of Realtors  

(949) 753-7900


3 comments • Michael A. Caruso ~ Orange County Real Estate • October 17 2009 11:19AM