What Can You Buy" is a series that looks at what type of house and amenities you can get for a particular price point in various locations across the U.S. Be sure to check out each of the posts in the series: What Can You Buy for Around $125,000?, What Can You Buy for $5 to $10 Million?, What Can You Buy For $625,000?, What Can You Buy For $250,000?, What Can You Buy for Less than $1,000?, What Can You Buy for $35,000? and What Else Can You Buy for $35,000?
Today's edition of the "What Can You Buy" series takes a look at just-next-to rock bottom prices across the country and houses that have recently been auctioned at those prices. We showed you some houses you can buy for around $1,000 range, and here are a few choice properties that recently sold at auction for under $3,000 - and there are more like them out there!
With an increasing number of homes available as a result of the crash and burn in the housing market, home auctions are becoming far more common. According to the National Auctioneers Association, it is estimated that home auctions have grown 5 percent over the past year and almost 47 percent since 2003, per AOL.
Here's just a taste of what you could have bought (and still might be able to buy) for less than $3,000, courtesy of the folks at RealtyTrac.
In Chicago's houseproud Roseland neighborhood, the bidding started on this property at one thin dollar. The single-family home on Chicago's south side is valued at $85,758 and was built in 1898 during one of the city's boom periods.
Roseland is in one of the most vital and up-and-coming areas in Chicago, near picturesque Beverly and Washington Heights.
This auction started at $1 and the house sold for a tidy $1,225? You can't beat it.
This sprawling 8 bedroom, 4 bath manor is another auction, that kicked off at just $1 and finally sold for $2,502.
This home could be used as a single-family home or apartments and is valued at $109,050, which is a great deal, any way you slice it.
The home was built in 1913, and because Florida has had more than its share of real estate troubles, some great deals can be had there, like this one.
This single-family home was another auctioned property, which started off at $1 and closed for $1,805, which is a serious steal for the 3 bedroom, 2 bath, ranch-style home in beautiful Spartanburg.
Spartanburg was voted, in 2007, the best place to live in South Carolina. It is located in the foothills of the beautiful Blue Ridge Mountains. The mild climate, with its four distinct seasons, provides fine weather for outdoor activities year-round.
This home is on a large lot, is near three large state parks and is valued at $72,527.
There are plenty of deals still out there, for under $3,000 that aren't auctions. These traditionally listed properties are priced like late-model used cars. Check out a few:
3066 Benjestown Rd, Memphis, TN 38127
This petite house in Memphis is listed for a mere $1,000. The 744 sq. ft. home has 2 bedrooms, and 1 bath would be a tight squeeze for a family of even two, but the house sits on a good sized lot.
Then again, if you like cozy, this is your house!
Known for Graceland, great BBQ, better blues and a rich cultural history and tradition, Memphis is a great slice of Americana and apparently offers some great deals in real estate. Have an inspector check for mold before you buy here, remember, there was a flood here this year.
What can you buy for less than $3,000 in Atlanta, GA?
If you can look past the boarded up windows, this little blue house is pretty cute. It is a 3-bedroom, one bath, 1324 sq. ft. home on a half acre that was built in 1920.
It is estimated to be worth $111,370 but the bidding for this home starts at just $1,500. It's located just 15 minutes from downtown Atlanta and the airport.
14802 Fordham St, Detroit, MI 48205
Well, I think we all know the answer to this question is: a lot!
Detroit is a place that has bargains to be had, and deals to be made. Hit hard by the real estate crisis and the extended economic downturn, Detroit is the land of fixer-uppers.
This house has an unattached garage, a big yard which would be great for a growing family, but might need more than a coat of paint to make livable again.
Just check out this bathroom? Not quite the kind you're used to seeing.
It's doesn't offer a single feature from the 10 Kitchen and Bath Trends for 2011. Is a house like this worth the money you'll have to sink into it? Do you think deals like this will help Detroit bounce back?
What do you think of the bargain houses shown?
- Tornadoes, Floods, Wildfires, Earthquakes: When Weather Affects Real Estate
- Foreclosure For Sale: $7 (I am not making this up!)
- What Can You Buy for Around $125,000?
- Elvis Presley's Beverly Hills Home Listed For Rent
- Want A Mortgage? Is Your FICO Credit Score 780?
- 2011 Grammy Winners Go House Hunting
- Biggest Losers and Winners: Where Home Values Are Rising and Falling
- Home Values Decline Further in 4Q 2010
- Ashton Kutcher Lists $2.6 Million Bachelor Pad on Zillow
- 10 Worst Cities For Foreclosures in 2010
- What Can You Buy For $5 to $10 Million?
- What Can You Buy For $950,000?
- What Can You Buy For $625,000?
- What Can You Buy For $250,000?
- What Can You Buy for $35,000?
Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.