It’s a bit off-topic, but it is a topic I’m all-too familiar with. No, this isn’t Detroit; Eugene’s real estate markiet is quite healthy actually. So why is this house being offered for only $10,000, a small fraction of what it might be expected to fetch? Hint: something important is missing in what is being offered.
“Buyer must move house”. Yes, the lot is not part of the deal, or the foundation. The owners want to redevelop, and are hoping to make money on the structure rather than have to pay to have it demolished.
This is what they’re hoping someone will do to it: lift it, put wheels under it, and drive it to a new site. That’s my younger son Will on the day in 1997 we had four house moved in a convoy from the U of O campus are to where they are now. We own eight moved houses, which we got for free back then. Of course there was the cost of moving, having the utilities in the streets lifted, foundations, utilities, and a complete rehab. When I tell folks I got these houses for “free”, the are incredulous.
That’s how the house on the back of that truck looked a couple of years later, on of our twelve rentals. One of these days, I’m going to do an in-depth post on our big house-moving and renovation project, which allowed me to become financially independent enough to start blogging about old cars. One can’t exactly expect to make a proper living blogging about that subject.
Back to that house for sale. Was I interested? Not in the least. First, I’m done with that; tired of bringing tired old houses back to life. And it’s a crappy, sagging, little house, all original without any upgrades. Back then, when I didn’t know better, if it were free, I would probably have taken it. Moving costs have almost tripled, and it’s not all that expensive to build a much more efficient, comfortable and well-built new construction, which of course is what I’ve been doing the past two years, part time. It will be done soon….
The other day, I noticed that the “house for sale” sign was gone, and it was in the process of being dismantled. No takers.