Buyers drawn to Detroit’s foreclosed homes starting at $1

by Random Feed on March 8, 2009

Despite a stagnant retail housing market in Detroit, real estate sales of foreclosed homes are booming. In extreme cases, homes are on sale for $1 or less. Agents regularly fields calls from distant prospects, and one recently sold thirty homes in one day to one buyer. A trio of U.K. investors has bought a half-dozen and plans many more.