What is Digg?142 Comments
- ModernGeek, on 10/04/2008, -2/+111It may cost less than a McDonalds value meal, but you can't eat it, either.
- Incidents, on 10/04/2008, -0/+101Shipping cost: $1500 USD
- TheWriteGuy, on 10/04/2008, -0/+62From the photo of the house, it looks like she didn't buy an asset but a liability.
At least with the Happy Meal, she would have gotten a toy which she could later put on eBay. - CobaltScribe, on 10/04/2008, -0/+53A few more houses and she can put up a hotel, all for less than a Monopoly set.
- inactive, on 10/04/2008, -0/+45how can you bid 8 times and not break $2 ? some pathetic bidders.
edit* actually why did anyone bid at all. Someone get a google map of the area? - Piontek, on 10/04/2008, -1/+40what a steal... could've easily gone for $4!!
- ryanhayn, on 10/04/2008, -1/+33She must have bid against a bunch of poor homeless people.
- twiztidsinz, on 10/04/2008, -0/+28You gonna eat that stapler?
- Tiak, on 10/04/2008, -0/+27Or can you?
- RupeThereItIs, on 10/04/2008, -0/+26Seriously, Saginaw? She overpaid........
- Rikushix, on 10/04/2008, -0/+25It's 875 sq feet.
Hm...house...or Happy Meal....hmmmm..... - quantumloop, on 10/04/2008, -1/+23It's not a good investment. The ridiculous property tax will make it a liability that she can't get rid of unless there's a miraculous economic boom in the area.
- Lewie, on 10/05/2008, -0/+20I lived in Saginaw for a while. Our fun included "driving through the ghetto". Seriously.
Yes, the American Auto Industry found a way to destroy a whole state's economy. Here's a fun fact: Go to Edmunds.com, and look up the specs of the Acura TL (a Honda division) and the Ford Fusion. One of them is built in America; the other in Mexico. Guess which one is made in America. - ak4444, on 10/05/2008, -1/+18It's abandoned for a reason psycho
- getrdone656, on 10/04/2008, -0/+17I'm guessing it's a fixer-upper
- 13B1303, on 10/04/2008, -0/+17Doze the house, scrap out the copper pipes, steel fence, wood, what ever. Sit on property until the land is worth something and sell. It's a couple minutes from I-75 and downtown Saginaw (not that that is a real selling point right now).
- twiztidsinz, on 10/04/2008, -0/+16You cant eat a stapler....
Wanna split it? - crunchdigg, on 10/04/2008, -0/+15property taxes are typically a percentage of the assessed value.
Most places use a selling price as de facto proof of the value
of the house, i.e. what someone was willing to pay.
That tax number is going to go down. It's based on as assessed value of
$2874. The house has changed hands for $2000 in 1999,
$400 in 2006, $10 and $26 dollars in 2007, and now less than $2 in 2008.
If not automatically reset, she can easily challenge the higher
valuation that generated the current tax. - twiztidsinz, on 10/04/2008, -1/+16Sea Monsta coulda bought two houses for his tree fiddy.
- VodkanLemons, on 10/04/2008, -1/+14damn, real estate is that bad right now?
- dpierce, on 10/04/2008, -0/+12http://maps.google.com/maps?lr=lang_en&ie=UTF-8&oe ...
- EtherGnat, on 10/04/2008, -1/+12Me: I'd like to take out a 30 year loan.
Bank officer: What's the value of the property?
Me: $1.75
Bank officer: ??? - haydesigner, on 10/04/2008, -1/+12It's always the hidden costs on eBay that get ya.
- jjb123, on 10/04/2008, -0/+11Its better than living in Flint, the anal cyst of Genesee county.
/I live in flint - netant, on 10/04/2008, -0/+10That's pretty much the formula that started the whole foreclosure mess. Its based on the presumption you can always move property with the likelihood of profit.
- LuckyASN, on 10/04/2008, -0/+10Saginaw, the ass-hat of Genesee county.
- DreamSynthesis, on 10/04/2008, -1/+11Not to mention the property taxes, $850 of back taxes and yard cleanup and the fact that the house is completely run down. She would have to invest thousands of dollars to repair the place in order to get it to the point that it's livable. If she plans to resell it, it will be just as unwanted as when she bought it.
The Happy Meal would have been a much better choice. - Tiak, on 10/04/2008, -2/+11$1.75 for the house itself... Property taxes and such are worth more than the house, which is why nobody wants them. A month or so ago, someone basically paid a buyer a couple thousand dollars to take a similar house (also in Chicago) off their hands. (The price in that case was $1).
- FairNUnBalanced, on 10/04/2008, -0/+9I was born in raised in Genesee county. It wasn't anyone's "ass-hat" until our politicians allowed the auto industry to destroy it.
- Awspire, on 10/04/2008, -1/+9This person sounds very naive. It was quoted that she plans to re-sell the house. You gotta be kidding me. Obviously she'll need to pay property taxes on the house, which appear to run about 3K a year, and if the house is run down, the expense to fix it up can be incredibly expensive, not to mention, even fixed up the area is probably so bad nobody will want to buy.
This property was on E-Bay. Did she do a title search to see if there are any back tax liens, or other types of liens? In the end, she probably bought a very expensive pink elephant, convinced it was a good deal becuase of the current status of our real estate market.
Sucker born every minute in times such as these. - MdSalih, on 10/04/2008, -0/+8Virtual Earth Birdseye view seems to do a better job here:
http://maps.live.com/default.aspx?v=2&FORM=LMLTCP& ... - jwolcott, on 10/04/2008, -11/+19I don't care what people say, she will end up getting a very nice return on her investment. Very nice.
- Lewie, on 10/05/2008, -0/+8Saginaw residents call it Sag-nasty as well.
- Rivetgeek, on 10/04/2008, -0/+8tax is based on the value of the property
- siszam, on 10/04/2008, -1/+9Go to Realtor.com and look at homes in Detroit. Many are one dollar. No one wants them.
- Rivetgeek, on 10/04/2008, -0/+8"I was trying to go see it, but I am not gonna make a 300-mile trip if I can't go in the house and see inside," Smith said. "It could be haunted or something."
http://www.mlive.com/saginawnews/news/index.ssf/20 ... - RaulMuadDib, on 10/04/2008, -0/+8You can see some gangsters if you zoom in enough
- smossner, on 10/05/2008, -0/+7I just recently moved back to Saginaw, Michigan for the time being because I could not sell my house here. Since being back here a month ago, I have witnessed one multiple victim shooting - and I live in the west side by Saginaw Township if you are familiar with Saginaw. When you drive down the streets, every 4th or 5th house is for sale and most of them you can get for 30 or 40K. These houses would have sold for probably 100K 5 years ago. The economy here is on a completely different level than most of the country. If Delphi or GM closes in this town, it will turn into a ghost town.
I can also assure you that the story is not fake. The house is a piece of crap and 99.9% of you would not have the balls to live in that neighborhood. I don't know what she was thinking. She will not be able to sell the house even when the economy gets better. Her best bet would be withdraw her ebay offer and suffer the negative feedback. - haydesigner, on 10/04/2008, -1/+8"also in Chicago"?
The house was in Michigan, not Illinois (confusing, I know) - AmusedToDeath, on 10/05/2008, -0/+7What *does* a "sexual predictor" do exactly. I gotta hear this one.
- Awspire, on 10/04/2008, -0/+7Never agree to purchase property without first doing a title search to check for liens, and have a housing inspector inspect the property. Compulsively purchasing property can cost a person a fortune in the end.
- metaliq, on 10/04/2008, -3/+10So it was kind of a bastard move for her to outbid those who need a place to stay.
- ironpirate, on 10/04/2008, -0/+7Still not worth it. Its unlivable and you have to pay taxes on it.
- t0nic, on 10/04/2008, -0/+6First I was like.. OMG STEAL! but then I saw it was Michigan and went RIPOFF.
My former state is in complete world of hurt and doubt its gonna recover specially since the big three are racing toward bankruptcy. - Import98, on 10/04/2008, -2/+8The house is a piece of ***** but she got property for under $2. Knock down that dump, keep the land and hope in a few years the economy is back on track, build a new house, sell, huge profit.
- graemee, on 10/04/2008, -1/+7Shipping to Canada, it would be $3000 and only by UPS so they could then soak you with the brokerage charges of $100,000.
- werries, on 10/05/2008, -0/+6I don't know about the rest of Michigan, but the Midland locals call it Sag-nasty.
- mactarkus, on 10/04/2008, -0/+6Did anybody even bother to look at the picture? It looks like it is about ready to collapse into a pile of dust. The house by itself will actually cost you money because there is no way to renovate it -- you'll just have to have it demolished and hauled away. The land might be worth something though.
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