I'd Buy That for a Dollar

By Prescott Carlson in Miscellaneous on Oct 1, 2008 9:00PM

We think most would agree that right now isn't exactly the time to get into the speculative real estate market. But one Chicago woman, Joanne Smith, decided to buck the odds, buying a home sight unseen last week in Saginaw, Michigan with the plan to resell it (pictured right). In her defense, she bought the home on eBay for a steal -- $1.75. [Ed's Note - This reminds me of that episode of The Simpsons when Bart bought an old warehouse at a government auction. - M.G.]

But did Smith really get a good deal? One neighbor says, "It's not even worth a dollar, it's worth tearing down." And there's a little matter of the almost $1,000 in back taxes and clean up costs she's now responsible for. So what does Smith think of her newly acquired abode? Well, she still hasn't seen it yet:

"I know that the property is abandoned and that there are taxes owed on the house but all I have is [the seller's] e-mail."

"I was trying to go see it, but I am not gonna make a 300-mile trip if I can't go in the house and see inside," Smith said. "It could be haunted or something."

We're getting the feeling this wasn't exactly a well thought out purchase. [S-T, mlive]

Photo of the house taken from the eBay bid page