Monday, October 26, 2009

Could Detroit be the Cheapest Place to Live?

In a recent Money Magazine article  a Detroit home with "surprisingly little work needed' sold for just $6,900! All the new owner, a guy from Chicago, needed to do was put in a little paint, replace some old, dirty carpets, and install a new water heater.

Detroit is full of great real estate deals like this one with foreclosed homes in relatively good condition selling within hours of hitting the market.

Could Detroit's loss become the real estate investors dream or is it simply destined to beocme one of the cheapest places to live in America?

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