Farms: $1 Condo Can't Find Buyers
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A $1 condo can't find any buyers. A condo in Orange County, California is listed for sale at only one dollar. The people selling the condo even offer to pay 15 hundred dollars for repairs on the place after it is purchased. The studio apartment also comes with maid service, and gourmet dinners provided as part of Orange County's Laguna Woods retirement community, so the owner has to be older than 55 to live there and pay the homeowners association dues on the apartment, which amount to approximately 17 hundred dollars per month. The condo was initially listed at 499 dollars, but the price then went down to a single dollar. Another condo was put on the market for one dollar as a publicity stunt. The owner, Kenneth J. DeLeon says putting the condo up for sale for a dollar will let the market decide what the condo is really worth. The Detroit, Michigan housing market has several abandoned houses listed for sale at one dollar. Many of the houses are fire damaged and the one dollar would only buy the lot that the house is on, or in most cases extreme renovations or rebuilding needs to happen to make the house inhabitable.
Comments
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This is a mortgage not a purchase.. WTF?
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The $1 condo is much like a high priced time share. No one wants to pay the high fees so they just want to give it away.
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Ratchet?
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$1700 per month for home owner dues???? NO wonder.....
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Detroit...yuck who in the hell wants to live in that dump...you ever see the people that live there...Ratchet
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HOA dues of $1,700/month,,,,hahaha,,,,that condo isn't even worth one dollar with a ,monthly obligation of $1,700/month,,,,