Why Is This Home Priced So Inexpensively? (U.P. Of MI)

[testcase]

Why the discrepancy re: baths in the description? :dunno:

[Ombligo]

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.

[TLB]

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.

[OWC Jamie]

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/realestatehomesfors...81522.html

[GGD]

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.

[MacJeepster]

Legal marijuana

[MacJeepster]

No legal marijuana in Michigan

[NewtonMP2100]

....used to be meth den...??

[tronnei]

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.

[AllGold]

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/realestatehomesfors...81522.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