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+--- Thread: Why Is This Home Priced So Inexpensively? (U.P. Of MI) (/showthread.php?tid=201257)
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - testcase - 02-03-2017
Why the discrepancy re: baths in the description? :dunno:
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - Ombligo - 02-03-2017
The photos show lots of paneling, etc type interior construction. In other words, cheap as possible. I would bet that would continue to structural - just enough to pass inspection. Then there is the furnace, plumbing, electrical - probably also minimal. Appliances may be old, formica countertops and pressboard cabinets - all having seen better days. TV is likely satellite (also fun in heavy winters), I wouldn't bet on high-speed internet.
If it was a steal, it would have been snatch up a long time ago (by the realtor if no one else). It has been on the market for more than a year, so something isn't right. If you are going to be in the area, it would be worth looking at, but I wouldn't bet on it being as good as it looks.
However - looking at the area, it is definitely a buyers market. Prices are depressed throughout the area.
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - TLB - 02-03-2017
39 mean average temperature, long term rental property, well water, little job prospects if you want to still work are my initial negatives. Potential for a winter rental and summer vacation home if no gotchas and if you want to maintain two residences.
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - OWC Jamie - 02-03-2017
Check the prices of homes nearby ( scroll to the bottom of the listing ) or search by zip code. Houses are cheap there.
This one is only 14,5
http://www.remax.com/realestatehomesforsale/102-e-pewabic-st-ironwood-mi-49938-id271781522.html
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - GGD - 02-03-2017
Ombligo wrote:
The photos show lots of paneling, etc type interior construction. In other words, cheap as possible. I would bet that would continue to structural - just enough to pass inspection. Then there is the furnace, plumbing, electrical - probably also minimal. Appliances may be old, formica countertops and pressboard cabinets - all having seen better days. TV is likely satellite (also fun in heavy winters), I wouldn't bet on high-speed internet.
High speed internet availability was also a thought of mine. Cell coverage too.
I'm also wondering if they might be exaggerating the square footage. Some of the pictures show a paneled basement, but the ceiling still shows exposed plumbing.
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - MacJeepster - 02-03-2017
Legal marijuana
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - MacJeepster - 02-03-2017
No legal marijuana in Michigan
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - NewtonMP2100 - 02-03-2017
....used to be meth den...??
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - tronnei - 02-03-2017
I drive through the UP (and the Ironwood area) to see my son at at school (Michigan Tech in Houghton). Generally, a very depressed area. Properties at fire sale prices are plentiful, cuz no one want to live there. No jobs, brutal winters.
Re: Why Is This Home Priced So Inexpensively? (U.P. Of MI) - AllGold - 02-03-2017
billb wrote:
Check the prices of homes nearby ( scroll to the bottom of the listing ) or search by zip code. Houses are cheap there.
This one is only 14,5
http://www.remax.com/realestatehomesforsale/102-e-pewabic-st-ironwood-mi-49938-id271781522.html
Wow, they managed to get a photo of that house on one of the four days a year with no snow on the ground.
miley-laughing001:(Of course I'm exaggerating... but not that much. :wink
