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I'm searching some of the real estate sites and am seeing homes in the Burlington & Greensboro areas. The lowest price one is $12,000.00. Many homes selling in the 20's, 30's. 40 thousands. These look like what was once considered starter homes back in the good old days. Small, single bath, and of course now older. No doubt needing updating.
Or are these low prices reflecting an incurable defect? Airport/landfill/highway/etc nearby?
From what I can tell $100,000+ homes are just a few minutes away by car. So I would think high crime or economically depressed would effect all?
We are now empty nesters looking to downsize and get about 1 hour from Raleigh. Not having a mortgage would be sweet.
Or are these low prices reflecting an incurable defect? Airport/landfill/highway/etc nearby?
You might check them on Trulia.com which gives info about surrounding neighborhoods. A couple in Burlington are in the "safe" neighborhoods, but a few blocks from higher crime areas. One would have to check them out in person to see the condition of surrounding homes. It might be worthwhile for retirees.
What I have read about Burlington suggests that economic depression and lost jobs are responsible for low prices.
Similar ones in Greensboro look to be in well-tended but low-income neighborhoods. They are in Trulia's light green rating for crime: eg, some crime, but relatively safe.
If you want to know about specific neighborhoods, perhaps you should on the Greensboro, etc sub-forum.
Last edited by goldenage1; 08-07-2017 at 08:01 AM..
The lowest price one is $12,000.00.
Many homes selling in the 20's, 30's. 40 thousands.
From what I can tell $100,000+ homes are just a few minutes away by car.
These look like what was once considered starter homes back in the good old days.
Small, single bath, and of course now older. No doubt needing updating.
Put some gas in the car and take a drive over.
Pack a bag for an overnight as well.
Poke around some.
Quote:
Or are these low prices reflecting an incurable defect? Airport/landfill/highway/etc nearby?
So I would think high crime or economically depressed would effect all?
It's a reasonable assumption that some combination of things like that are going on.
Go see for yourself.
I wonder if there are back taxes owing? I know that bargain houses in areas like Detroit and St. Louis often have years of property tax outstanding (which the new owner becomes responsible for). They're still considerably cheap though regardless.
I wonder if there are back taxes owing? I know that bargain houses in areas like Detroit and St. Louis often have years of property tax outstanding (which the new owner becomes responsible for). They're still considerably cheap though regardless.
Real estate that has fallen into a tax foreclosure is auctioned off by the County. They wouldn't be listed on a site like Zillow.
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