AffordableHousingAuctions.com is a free website which tracks low cost home prices across the United States.
Online PR News – 12-November-2009 – – The current U.S foreclosure crises has some buyers rushing to buy 'Super Cheap' homes online. In some cases buying houses for less than $5,000 outright (free and clear) using some online auction sites like eBay.
But not all $5,000 homes are bargains according to James Massey, publisher of AffordableHousingAuctions.com, a free website tracking cheap home and foreclosure auctions nationwide. Massey states; "Some buyers may be (unknowingly) buying a nightmare if they’re not careful."
“There’s always a good reason for low prices. Many times the areas with the lowest prices have been economically devastated. In a worst case scenario a neighborhood can be filled with foreclosures that have been abandoned for years. This can lead to uninhabitable homes and some really dangerous neighborhoods. Situations like these aren’t be good at any price."
A video of one such a neighborhood, located in an economically devastated portion of Detroit Michigan, has been posted on Massey’s website at www.AffordableHousingAuctions.com (See 'Bad Neighborhoods'.)
Massey's site also provides free online resources to help home buyers find cheap home areas and screen a neighborhood for trouble by accessing crime statistic's and (free) satellite imagery to take a 'historical' look from the sky. To see if a neighborhoods been improving or degrading over the past years.
While his site does offer some valuable resources for pre-screening homes and neighborhoods. Massey says the only way to really know with certainty whether a cheap home is a bargain, or too good to be true, is through intensive research and an in person inspection of the home and its neighborhood.