Pricing Error?

clg7067October 22, 2008

So, what do you think? Is this house really $9,400?

(I'm just browsing.)

Here is a link that might be useful: Xenia $9,400

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No question that is the asking price..The house is in need of serious repair...I wouldn't pay that much for this...and its cost is less thne the amount i spent on FIXTURES for my masterbath remodel..and it is in South Dakota,which i believe is south of Nowhere

    Bookmark   October 22, 2008 at 10:52AM
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Actually the home is in Xenia, Ohio -- a small city near Dayton.

    Bookmark   October 22, 2008 at 11:44AM
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Looks like someone started a full fledge redo and then either ran out of dollars or time or both.

    Bookmark   October 22, 2008 at 11:58AM
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My bad, Ohio is a somewhat better state then South Dakota,but not by much....There is a reason the home is 9k,it needs to be rebuilt, and i'll bet,the area of Xenia has a lousy local economy...You'd think the property alone would be worth more then 9k

    Bookmark   October 22, 2008 at 1:20PM
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I just remembered, isn't Xenia the city/town where the Burger King employee gave himself a bath in the sink of the fast food joint? I recall it was shown on the internet...

    Bookmark   October 22, 2008 at 1:25PM
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yep, you're right qdog it's where Burger King employee gave himself a bath in the sink of the BK. It's also the town where on two successive Easter Sundays a tornado wiped out the town.

    Bookmark   October 22, 2008 at 1:37PM
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In my area of NY that would go for about $300-$310K in its current condition.........obviously with the value being in the land.

Go to and put in Detroit, search from $1-10,000 and you'll see some other cheap houses.

    Bookmark   October 22, 2008 at 2:18PM
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chris, that's - there is no i in Realtor.

    Bookmark   October 22, 2008 at 2:41PM
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What you are buying on this listing is essentially a city lot. Not even that. If you look further, you'll find the lot to the original house has been split. If you want the garage, you'll have to buy the other half. And according to the ads you can't buy that lot, unless you buy the lot with the house. So, it brings the price for a smaller urban up to more traditional prices, if you can muddle through the realtorese.

To me, it would be less desirable than a vacant lot, because the person with the big dreams not only gutted it, but began to dig a basement. So, it's a house shell, over a large hole, has asbestoes in the siding and gets its electric from the property next door. IOW lines need run. It strikes me as a case of somebody changing their minds midstream. The ads say terms are conventional financing. I haven't seen too many banks willing to loan me money for house needing this much rebuild without asking for 50% down payment.

Somebody needs to help qdognj learn to read realty listings. SD is sort of standard for school district, especially if it says school district to one side of it. My husband has family in Greene county. It's a beautiful place to live, and really, we folks from Ohio can read and write, don't marry our cousins, and are glad we don't spend nine thousand dollars on bathroom fixtures. Somebody has to be just plain ole people, and I'm not particularly ashamed of it.

    Bookmark   October 22, 2008 at 8:30PM
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calliope,i noted my mistake earlier,but thanks for pointing it out...and i never said anything about readin' and writin' or lack of..and i definitely didn't say y'all marry your cousins..What i did say is the local economy and/or housing must be not so good, because even a crummy lot like that should command more then 9000 measly dollars..

    Bookmark   October 22, 2008 at 9:05PM
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direct link if that doesn't work, google results the 1st result says "Details of Listing #418794 in Xenia" with the url

In the comments it says
Attention Investors! This is a home which needs total rehab. - including foundation and footer work in the crawl space area. Prior Owner started to dig for basement. The main section of the home has been gutted including walls, floors, and the entire upstairs. The back section of the home has kitchen, bath and laundry. A new electric service line must be installed for the house (currently getting service from adjoining property). This home could be a nice 3 bedroom, two bath property. Being sold AS-IS. Great potential for profit. Agent owned property.

The zillow link says it's zestimated at $89,500

I haven't found where it says you have to purchase the 2 properties.

Here is a link that might be useful: Zillow link

    Bookmark   October 23, 2008 at 8:39AM
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I just ran the address through Google, and it popped up on I have a hard time with that property tax assessment too. It should be ten times what the figure says to be in the ball park.

    Bookmark   October 23, 2008 at 9:01AM
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You don't have to purchase two properties to get the house, but you have to purchase the house to get the lot with the garage according to the listing on backpage. Perhaps the lot with the house wasn't split after all, and is original size, but if that is the case, it looks like somebody has also purchased an adjoining lot on which a garage was built. If the pics in the maps on the lot adjoining is it, it's a nice one!

I can only think Zillow must be using the house price for its estimate and somebody plugged in an extra zero. Doesn't make me very confident in the information there.

And BTW, the property taxes are accurate. That's very, very low.

    Bookmark   October 23, 2008 at 9:46AM
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