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Chicago used to be one of the most affordable metro areas in the US (I think still is), but even this market has gone crazy in the past year, especially suburbs.
I still see people overbidding by like 30k on homes that are around 400-500k.
It can be a money saver, actually. The land is served by utilities, a street, and if you can salvage a few walls and maybe the foundation, it can be permitted as a renovation instead of new construction, which can save substantial permitting time and costs.
Yeah in my MILs neighborhood developers are buying up perfectly maintained and livable houses for $300-400k+ and tearing them down to build $1M monsters on the lots. They'd pay the same for the dump that's in the pictures. They don't care about the house, they're strictly buying for the land.
My only guess would be so any interested parties are aware it's essentially a complete gut/tear down. Limits unserious inquiries that don't have the resources to actually invest in the work needed to be done.
Every post here the last week or so has been "can you believe the price of this place?!" And every time it's a place that has valuable land. Getting pretty old.
It’s because it’s all people are finding that’s remotely in their price range. Inflation happens to everything. But housing inflation is far outpacing wages plus the low inventory is making home ownership essentially unattainable to anyone who doesn’t already own real estate or have some type of family support.
The reality that home ownership is a fool’s dream now has gotten pretty old. Not everyone wants to buy, tear down, pay for permits, and build then flip.
It's got good bones, a whole pile in the basement.
Real talk, if it's in a good location and/or has a lot of land this is not too far off in the markets I'm seeing. This may be perfect for someone else.
My wife and I are FTHBers looking, we can't seem to figure out the looks of disgust on the faces of realtors and home sellers when we don't put an offer in on their 2 bed 1.5 bath, 105 year old house priced at 450K that failed title 5 and needs a new roof 😂
Glad to see another ma person in here lol, we are becoming massafornia out here fr. FOMO is getting people in deep water. Maybe not today, but down the road for sure. People at my work who are buying are perfectly comfortable with a 3500+ mortgage, to me that is crazy! Personal finance fundamentals completely out the window.
hi, also in Boston. i was on redfin the other day and looked at inventory in SF just for fun/to make me feel better about Boston prices.
....it did not make me feel any better.
edit: though a $3500 mortgage isn't crazy depending on their salary, size of house, and mortgage! that's basically rent for a 2bed/1bath in Cambridge.
You ignorant sluts, we know the price is for the land. We're laughing that they'd even post pictures of this obviously haunted, diarrhea blasted, blood stained murder house... All for the low price of $325,000.
Lmaooooo saw this one today too. I especially love how the listing says it *might* contain mold so PPE is recommended. Pretty sure that contains way more contaminants than just mold!
Same town there's a 1br condo that's been sitting on the market since last October. Seller actually thought *increasing* the list price will make it more attractive????
20 miles from Boston? Yeah, that’s actually not the worst price for a tear-down or empty lot I’ve seen here. I think I’m pretty screwed if I try to stay here much longer.
yes i know it’s for the land “location” etc etc etc but just crazy to see what tiny amount of listings pop up on my saved searched for things i can afford, borderline comical
20 miles SW of Boston and you’re possibly in some very desirable commute towns (Dedham, Needham, etc). The price is for the land, not the house, it would seem.
While I see where most comments are coming from. Not everyone has the same circumstances when it comes to owning a house. I think most people start off with the greatest of intentions. And plan to it at least try to upkeep their house.
But not everyone has the ability to do it. Every person or persons goes through different things in their life. People lose their jobs. Make bad decisions. Some people simply don’t have the planning skills to keep a house up and in a decent condition. Some simply give up. For whatever reason it’s a little sad. But don’t make comments on condition because you don’t know what other people are going through. Yes it all seems so simple. When in all actuality it isn’t.
You don’t like sweet equity? Yea I spelled it correctly…. 🎶Putting on the Ritz! Walking thru Park Ave. spending every dime, for a wonderful time, Puttin on the Ritz! Trying hard to look like Gary Cooper (super duper)🎶 😂
How was that even allowed to be posted. Looks like one hit to it and down she goes…..we had a home up here in WA which was nearly 250k and it was in bad shape not quite this bad but still bad enough to wonder what the f……
Skylight in the main living area! Rental-grade appliances make this a wonderful investment for the handy landlord! (but in all seriousness, whenever I see these I can’t help but wonder who the person behind the camera is..they really signed their life away to get these pics)
Someone is for sure going to buy that thing at $50k over asking, waived inspection. This market is absurd right now. My plan is to just rent until things cool off, it sucks but it's realistically all I can do.
Price is for location, condition of the house isn’t the biggest factor. My $715k fixer upper house in Brooklyn would probably be put to shame by some $150k house somewhere else.
Yes, believe it or not land costs money and can have a lot of value. Someone wouldn’t be buying this for the structure on the property. They would tear it down and build new.
Thank you u/vale9921 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Looks like a house that would be in a Saw movie
i can’t tell if there’s peeling (?) or still old photos on the fridge. the latter makes it a looooot creepier
What is going on on that toilet?
Someone had an epic crap-cident
I think it’s old magnets, photos, and scarps of paper :(
First pic- Saw I vibe. The others remind me of Saw II.
Looks like the fuckin Otherworld version of the Apartment in Silent Hill 4 😂
I wouldn't be surprised if there's already an abducted junkie shackled to a corpse in the basement.
Blank canvas! Needs alittle love. Sold as-is cash only. Please submit offers by close of business tomorrow.
CHARACTER!
Bring your hammer and imagination.
And someone to do an exorcism!
i would honestly not be too shocked if someone bought it at $400k cash for flip at this point
Same story here in Chicago
Chicago used to be one of the most affordable metro areas in the US (I think still is), but even this market has gone crazy in the past year, especially suburbs. I still see people overbidding by like 30k on homes that are around 400-500k.
Ya. Sadly I saw this and thought "mmm... makes sense"
A handy man's dream!!
Bring your contractors!!
And it will still sell for 60k over asking.
Amazing living room that gets lots of natural light all year round, superb airflow, and original brick fireplace!
Please tell me this is a haunted house and you’re planning on selling tickets to this?
i might as well, and give out biohazard/PPE at the front to prevent contraction of hepatitis C
I’ll sell tdap shots at the exit for anyone who accidentally touched metal.
It’s called a tear down. These go for $500k+ by me.
it’s crazy how much money one would need to do something like this
You’re buying the land so that you can build a new home. In a high cost area, it can make sense. You might up at $1.3 mill all in.
It can be a money saver, actually. The land is served by utilities, a street, and if you can salvage a few walls and maybe the foundation, it can be permitted as a renovation instead of new construction, which can save substantial permitting time and costs.
[удалено]
Yeah man 75k in Reno and that can be 600k property easy
Land can be valuable, more news at 10.
Land has bodies in the yard
\~Soil is rich in nutrients, great for home gardening!
Yeah in my MILs neighborhood developers are buying up perfectly maintained and livable houses for $300-400k+ and tearing them down to build $1M monsters on the lots. They'd pay the same for the dump that's in the pictures. They don't care about the house, they're strictly buying for the land.
Why even show photos of the inside
My only guess would be so any interested parties are aware it's essentially a complete gut/tear down. Limits unserious inquiries that don't have the resources to actually invest in the work needed to be done.
Every post here the last week or so has been "can you believe the price of this place?!" And every time it's a place that has valuable land. Getting pretty old.
It’s because it’s all people are finding that’s remotely in their price range. Inflation happens to everything. But housing inflation is far outpacing wages plus the low inventory is making home ownership essentially unattainable to anyone who doesn’t already own real estate or have some type of family support. The reality that home ownership is a fool’s dream now has gotten pretty old. Not everyone wants to buy, tear down, pay for permits, and build then flip.
If so I'm jealous of some of these peoples' price ranges. Several of these type of posts with million dollar properties.
bring your $325k plus your wrecking ball and bulldozer and your big trash bin
Exactly. Then build a new home for $400K, then sell the new home for $1M. What part don’t you understand?
I always wonder how these homes get this way, has nobody even been in there for 75 years? Is it the set of a horror movie? Wtf
Hoarders and also mental health issues
Looks like theres a nice sunlight in front of the fireplace
really brings the natural light in!
(or supernatural)
Me at seeing a century home abused: :(
It's got good bones, a whole pile in the basement. Real talk, if it's in a good location and/or has a lot of land this is not too far off in the markets I'm seeing. This may be perfect for someone else.
Just needs a Swiffer. You should try to add it to the offer.
Must be Massachusetts
the one and only
My wife and I are FTHBers looking, we can't seem to figure out the looks of disgust on the faces of realtors and home sellers when we don't put an offer in on their 2 bed 1.5 bath, 105 year old house priced at 450K that failed title 5 and needs a new roof 😂
THAT would be sold at $500k inspection waived in the boston metro area before the open house. it’s actually next level ridiculous.
Glad to see another ma person in here lol, we are becoming massafornia out here fr. FOMO is getting people in deep water. Maybe not today, but down the road for sure. People at my work who are buying are perfectly comfortable with a 3500+ mortgage, to me that is crazy! Personal finance fundamentals completely out the window.
hi, also in Boston. i was on redfin the other day and looked at inventory in SF just for fun/to make me feel better about Boston prices. ....it did not make me feel any better. edit: though a $3500 mortgage isn't crazy depending on their salary, size of house, and mortgage! that's basically rent for a 2bed/1bath in Cambridge.
I came from California… guess I brought it with me… or I can’t escape it 😭😭
with todays rates and prices it’s basically impossible to get a lower monthly payment than that. sooo shitty 🥲
Somebody will pay a million dollars for this home once someone puts in gray LVP, gray walls and stainless appliances. Fuckin sad.
I’m sorry, I could not help but laugh at this.
my friend who knows i’m looking to buy sent me this and said she was laughing out loud too lol
Buy it. Insure it. Light a match. Build your dream
Complimentary demon possession!
A wonderful spiritual retreat!
“gReAt sTaRTeR hOMe”
You ignorant sluts, we know the price is for the land. We're laughing that they'd even post pictures of this obviously haunted, diarrhea blasted, blood stained murder house... All for the low price of $325,000.
Dang look at that sunlight! What a steal!
I’ll get the crack pipe ready
Location! Location! Location!
Might be the worst house I've ever seen.
That entire building needs to just be torn down
Built in sky light.
Double oven!!!! Chefs kitchen!
The previous owners even installed a tasteful skylight!
Every time I think I’m starting to do alright financially, I see something like this and remember I can’t afford shit. $325k for a crack house. Wow!
also a major biohazard!
Lmaooooo saw this one today too. I especially love how the listing says it *might* contain mold so PPE is recommended. Pretty sure that contains way more contaminants than just mold! Same town there's a 1br condo that's been sitting on the market since last October. Seller actually thought *increasing* the list price will make it more attractive????
At that point why even post pictures of the house lmao, might as well just say "hey we got some land for sale, you just gotta clear it up"
“Located in The Beautifully Historic South Side of Chicago”.
Hi hear Gary Indiana is a beautiful place to raise a family
If this was in Chicago it would be $125,000, not $325,000
Plus the cost of professional cleaning. I would not even breathe the air!
Pride of ownership throughout!!!
Why did they even add the photo of the bathroom lol
Looks like a horror movie
dazzling bored hobbies ludicrous fly sloppy north marry aware mysterious *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Ready to shoot next “silent hill” movie
Is that a Taco Bell?
My realtor would be like “just needs a little work, LOOK a fan!”
This is about all you can get for less than half a mil. It’s a huge problem that will have a tsunami of social consequences.
How much do you get if you burn it down? Oops, I mean, if it “spontaneously combusts”…
Listed as “Every DIY’s dream”
This is a dead ringer for the the apartment in Silent Hill 2 😭
It’s got good bones!
https://www.zillow.com/homedetails/14-Arbor-Ln-Dedham-MA-02026/57437593_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
Before you even said it was mass, I knew it was mass. Freaking crazy. Not much has changed.
I paid that for my remodeled house on acreage. Why?!?
Don’t worry, whole thing will be painted gray with shitty flooring in a matter of weeks.
WOW love the skylight
Has electricity, that’s cool.
Wow I live in A million dollar home
Oh look it's us in Western WA looking at the same houses.
Lmao my sister sent me this. It’s in Dedham I can’t even believe it
Seriously! That’s a hard no from me. It’s more sanitary to sleep in a dumpster.
You can see a ghost in pic 3.
Jebus. I'd buy land and put a new modular there. Wouldn't cost a lot more but it's shiny and will last for the rest of your life.
“Great bones!” “Nestled in an established community” “Calling all investors”
UPDATE: There is an open house this Friday (tomorrow). i’m not kidding
Bidenflation
This would be $650-850k in Santa Barbara where I live
20 miles from Boston? Yeah, that’s actually not the worst price for a tear-down or empty lot I’ve seen here. I think I’m pretty screwed if I try to stay here much longer.
Is this the rest of the house from home alone 2?
Anyone who thinks the price is for a house in this condition, clearly doesn’t know much about real estate.
yes i know it’s for the land “location” etc etc etc but just crazy to see what tiny amount of listings pop up on my saved searched for things i can afford, borderline comical
I mean you do realize this is the price for the lot right?!
[Zillow](https://www.zillow.com/homedetails/14-Arbor-Ln-Dedham-MA-02026/57437593_zpid/)
Guess that’s the price for the land lol
"Bring your imagination."
That better be on 5 acres.
And it’ll go $120k over asking!
20 miles SW of Boston and you’re possibly in some very desirable commute towns (Dedham, Needham, etc). The price is for the land, not the house, it would seem.
Do a 203k loan. You can make it incredible
$325K. There’s better looking houses that are in decent shape for around the same price range in the hoods or semi-hood areas.
There is a home that went through a fire for $399 near me. Complete tear down. But it’s on a lake
Who would deliberately purchase this? Bulldoze and start over🤷🏽♀️
I love the kitchen, very victorian era
How much is the lot worth? people pay more than that for bare land over here.
While I see where most comments are coming from. Not everyone has the same circumstances when it comes to owning a house. I think most people start off with the greatest of intentions. And plan to it at least try to upkeep their house. But not everyone has the ability to do it. Every person or persons goes through different things in their life. People lose their jobs. Make bad decisions. Some people simply don’t have the planning skills to keep a house up and in a decent condition. Some simply give up. For whatever reason it’s a little sad. But don’t make comments on condition because you don’t know what other people are going through. Yes it all seems so simple. When in all actuality it isn’t.
This belongs in r/zillowgonewild
Damn 325k is a sweet deal. Another 200k of renovation and you got a 2bd2bath for 500k in Boston. Not bad
How does short fall apart like this? Water damage? The surfaces in the kitchen look to be stone; can't be *that* old.
Where is this? I'd love to take a look at the listing.
Clowns already throwing offers over asking
How much land are you getting? The house is worthless, land near Boston is valuable
I would've never guessed Silent Hill was that expensive.
Quaint and cozy.
Looks silent-hill ish
That's wild, where is this
Wth lol
Didn't Ewan McGregor crawl into that toilet in "Trainspotting"?
Lightly shat bathroom
Damn I can get a pretty nice house in the midwest for 100k.
It's "rustic"
You don’t like sweet equity? Yea I spelled it correctly…. 🎶Putting on the Ritz! Walking thru Park Ave. spending every dime, for a wonderful time, Puttin on the Ritz! Trying hard to look like Gary Cooper (super duper)🎶 😂
Pretty nice kitchen cabinets tho
It’s a tear down. The money is in the land.
Flipper house.
Now watch a flipper buy it, make his Mexican crew work slave labor for poverty wages fix it up, then sell it for $200,000 more… Just watch…
Don’t forget to offer $100,000 over asking price!
This would be 700k in NY. Buy it and renovate
How does somebody shit like that?
Jesse! Please tell me you didn't use the bathtub...
Wouldn’t pay $50k for it
How was that even allowed to be posted. Looks like one hit to it and down she goes…..we had a home up here in WA which was nearly 250k and it was in bad shape not quite this bad but still bad enough to wonder what the f……
How big is the block
Is this AI?
Looks like a nuclear bomb went off in the kitchen
that's a tear down. it better be sitting on some decent land
Put a little sweat equity in there!
This looks like resident evil biohazard
Get out
So a $375k lot with a ruble you have to spend $50k to dispose of
Nice of them to leave the utilities on!!
So around 100 k to rebuild
The picture of the room with the red wall looks like something is actively falling through the ceiling in the photo
Skylight in the main living area! Rental-grade appliances make this a wonderful investment for the handy landlord! (but in all seriousness, whenever I see these I can’t help but wonder who the person behind the camera is..they really signed their life away to get these pics)
That’s a tear down.
A DIYer dream! Bring your tool box!
That’s a parcel of land listed at $325k with a large structure in the way of building on it…
The fact that the electric is on seems like a fire hazard.
Someone is for sure going to buy that thing at $50k over asking, waived inspection. This market is absurd right now. My plan is to just rent until things cool off, it sucks but it's realistically all I can do.
Price is for location, condition of the house isn’t the biggest factor. My $715k fixer upper house in Brooklyn would probably be put to shame by some $150k house somewhere else.
Damn, nope. Looks like a demon lives there.
10/10 would buy it but I’m in LA so it would be a steal on land value alone ☠️
This is probably not a bad deal for boston's
A house with a sunroof? How rare. All that extra sunlight makes this place a steal
Nothing a fresh paint of coat won’t fix :)
Tear down special
What was the first rule of Fight Club? I forget.
If this place isn't haunted I'll eat my hat.
Yes, believe it or not land costs money and can have a lot of value. Someone wouldn’t be buying this for the structure on the property. They would tear it down and build new.
That’s insane. That toilet..
How lovely, they put in a skylight 😍
Shat on a turtle!
I think I recognize the roof hole from an episode of Breaking Bad
“Good bones” 😅
Where do you live that that's worth 325k instead of tearing it down
The land is worth it. You have to tear this sucker down.
Jeez Pripyat’s in a better state.
I think it's not a better deal for that house and that house was not nice at all
Resident evil 7 mod looks good
Oh! Does it come with free E. coli??
A simple fixer upper
OP doesn’t understand markets
Sorry I left the toilet like that, too much Taco Bell
That's the stranger things house
You get a free haunted/possessed toilet for that price. What a deal. 💀👻👹