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Crazy House Prices In America

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  • 07-03-2008 2:46pm
    #1
    subfreq
    Registered Users Posts: 634 ✭✭✭


    By Crazy, I mean really crazy. Like under a grand.

    Did anyone else here on several radio stations this morning about property being offered in the States for hundreds of dollars? It was mentioned on several radio stations yet they didn't call out a link. Supposedly due to the sub prime melt down you can get property at unthinkable prices.

    Just wondered if anyone had heard this today or knew of links online to confirm it.

    I should add that I'm asking more out of interest than intent as I think the old maxim "if it's too good to be true it probably is" applies here but as it was reported today I wanted to follow up on it a bit.

    Cheers.


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    #2
    BingoWings
    Closed Accounts Posts: 11 ✭BingoWings


    Houses from $100....a little less than €65.

    http://www.realtor.com/search/searchresults.aspx?ctid=2959&typ=7


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    #3
    karen3212
    Closed Accounts Posts: 668 ✭✭✭karen3212


    Does anyone know how you'd find out how much taxes could be owed to the various states on houses over there?


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    #4
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    BingoWings wrote: »
    Houses from $100....a little less than €65.

    http://www.realtor.com/search/searchresults.aspx?ctid=2959&typ=7
    To be fair, none of the houses on the first page had been built in the last fifty years. Most of them seem to be fit for demolishing.

    I'm not very savvy on the US house stuff, but afaik once you're outside of any major cities, land is dirt cheap. So 1/8 acre site on a small road a mile outside of some backwater town would cost next to nothing. This is probably what you're seeing in the above.


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    #5
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    seamus wrote: »
    To be fair, none of the houses on the first page had been built in the last fifty years. Most of them seem to be fit for demolishing.

    I'm not very savvy on the US house stuff, but afaik once you're outside of any major cities, land is dirt cheap. So 1/8 acre site on a small road a mile outside of some backwater town would cost next to nothing. This is probably what you're seeing in the above.

    Not only that- its a piss-poor area in Detroit, with the second highest murder rate in the US.......


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    #6
    Victor
    Registered Users Posts: 78,400 ✭✭✭✭Victor


    Estimated Payment: $2 Per Month*


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    #7
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    Location, location location. 100% of a worthless properly is, 0.


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    #8
    subfreq
    Registered Users Posts: 634 ✭✭✭subfreq


    The houses being alluded to were in Texas and supposedly more in line with Cribs than Cops.

    On the outset it sounded unbelievable but Gerry Ryan was saying his entire back room team were in the process of buying the better part of a street.


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    #9
    iguana
    Moderators, Entertainment Moderators Posts: 12,916 Mod ✭✭✭✭iguana


    The property taxes in some of those areas can run to five figures annually.


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    #10
    Supercell
    Registered Users Posts: 15,401 ✭✭✭✭Supercell


    Not only in Detroit , heres a 2 bed apartment in Brooklyn for $1600
    Can this area really be worse than Darndale, Finglas or Jobstown in Dublin?
    https://www.loughlinstown.ie/

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



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    #11
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    That's insane.

    Does anyone know for certain how much property taxes on these kind of places could be?

    Would there be any advantage (e.g. easier to get a green card) to owning one of these properties?


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    #12
    jdivision
    Registered Users Posts: 4,260 ✭✭✭jdivision


    It looks like the projects though so you'd have to be a bit wary. Although area sounds grand comparatively (old article though)
    http://query.nytimes.com/gst/fullpage.html?res=9A01E6DF1F31F933A05756C0A96F958260&sec=&spon=&pagewanted=1

    At the same time you can buy houses in South Hill and Moyross here for e25k


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    #13
    Victor
    Registered Users Posts: 78,400 ✭✭✭✭Victor


    dublindude wrote: »
    Does anyone know for certain how much property taxes on these kind of places could be?
    A friend in an OK neighbourhood in California is spending $7,000 a year.


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    #14
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    Victor wrote: »
    A friend in an OK neighbourhood in California is spending $7,000 a year.

    Ditto- I've a first cousin living in an LA suburb paying just over $6k annually.

    Edit- my brother and sister pay over £3,000 per annum property tax in London.

    We only abolished property taxes here in the early 80s- but we could very well be looking at bringing them back from around 2010 onwards. Wonder what that will do for property here?


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    #15
    iguana
    Moderators, Entertainment Moderators Posts: 12,916 Mod ✭✭✭✭iguana


    smccarrick wrote: »
    Edit- my brother and sister pay over £3,000 per annum property tax in London.

    It's not property tax in London, it's council tax. It is paid by owners and renters alike as it is a tax on council services like park, libraries and gyms which are available to residents whether they own or not. Though it is linked to the value of your property, but its a loose linking.


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    #16
    The Cannibal
    Registered Users Posts: 908 ✭✭✭The Cannibal


    Does anyone know any good sites to research the American property market? I'd like to get myself educated on the desirable areas ASAP.


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    #17
    dazberry
    Registered Users Posts: 2,149 ✭✭✭dazberry


    American Estate Agent:
    **REDUCED****FIRE DAMAGE HOME** ENTER AT OWN RISK ...

    Irish Estate Agent:
    REDUCED TO SELL!!!!. A wonderful opportunity for investors and FTBs alike to own this fantastic property with great potential – would suit young professionals in this up and coming area – close to all amenities with great shops and schools and only 10 minutes from town. Finished in a black/dark chocolate colour, needing some TLC – and with some decoration and just a little imagination make this your dream home.


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    #18
    andreas_220D
    Registered Users Posts: 281 ✭✭andreas_220D


    dazberry wrote: »
    American Estate Agent:
    **REDUCED****FIRE DAMAGE HOME** ENTER AT OWN RISK ...

    US$ 500
    dazberry wrote: »
    Irish Estate Agent:
    REDUCED TO SELL!!!!. A wonderful opportunity for investors and FTBs alike to own this fantastic property with great potential – would suit young professionals in this up and coming area – close to all amenities with great shops and schools and only 10 minutes from town. Finished in a black/dark chocolate colour, needing some TLC – and with some decoration and just a little imagination make this your dream home.

    € 500000


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    #19
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    andreas_220D wrote: »
    US$ 500

    € 500.000

    :confused:
    Even with the exchange rate, not much difference there.

    Sorry, I've missed your joke if there is one


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    #20
    andreas_220D
    Registered Users Posts: 281 ✭✭andreas_220D


    micmclo wrote: »
    :confused:
    Even with the exchange rate, not much difference there.

    Sorry, I've missed your joke if there is one

    same object, same specs (burnt down), price in the US = 500 (fivehundred), price in Ireland = 500000 (half a million).


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    #21
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    micmclo wrote: »
    :confused:
    Even with the exchange rate, not much difference there.

    Sorry, I've missed your joke if there is one

    The continental way of counting uses a fullstop, rather than a comma, to denote thousands.


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    #22
    DaSchmo
    Registered Users Posts: 107 ✭✭DaSchmo


    $500 for a house in one of the rougher parts of Detroit is crazy? Not at all. These areas are no-go zones where the average pale skinned paddy would literally be shot at if he was stupid enough to show up. You couldnt pay 99.99% of americans to set foot in a place like that let alone buy or rent property and actually live there.

    You want crazy? Try this.

    www.daft.ie/1264722


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    #23
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    smccarrick wrote: »
    The continental way of counting uses a fullstop, rather than a comma, to denote thousands.

    I think you're right
    Apologies Andreas :)


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    #24
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    Since when did location become unimportant?


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    #25
    Red Hand
    Registered Users Posts: 4,986 ✭✭✭Red Hand


    DaSchmo wrote: »
    $500 for a house in one of the rougher parts of Detroit is crazy? Not at all. These areas are no-go zones where the average pale skinned paddy would literally be shot at if he was stupid enough to show up. You couldnt pay 99.99% of americans to set foot in a place like that let alone buy or rent property and actually live there.

    You want crazy? Try this.

    www.daft.ie/1264722

    Jesus thats a portocabin!


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    #26
    subfreq
    Registered Users Posts: 634 ✭✭✭subfreq


    DaSchmo wrote: »
    in a place like that let alone buy or rent property and actually live there.

    You want crazy? Try this.

    www.daft.ie/1264722

    My god, this country really has gone crazy!


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    #27
    DaSchmo
    Registered Users Posts: 107 ✭✭DaSchmo


    subfreq wrote: »
    My god, this country really has gone crazy!

    Wanna buy my '91 Nissan Micra? Only €55,000

    In fairness, there is absoloutley no chance in hell of them even getting half that figure but the mindset of the type of person who believes that their wooden shack in Wexford is somehow "worth" 700k almost 18 months into a property crash defies belief.

    Unbelievable.


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