Profile picture for normand488638

1K to 2K homes for sale! What is the catch?

I am interrested buying a property in Las Vegas area. I already have one. I check on Zillow and I fond many houses (around 30 of them) for sale at a range of 1K to 2K while the zestimate goes between 50K to 150k. Who could sel a house at this price? Is there a catch behind this? Sound too good to be true.
  • July 30 2011 - Las Vegas
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Answers (10)

I have sold a house for $1,000. - REO. However you probably are seeing rentals advertised. If it looks too good to be true...it probably is!
  • November 21 2011
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  • November 21 2011
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Profile picture for Sharon Lewis
Its probably auction homes and when the auction starts, that home will quickly come up to 'market value' . Get yourself an agent and see what you can do if you are interested in purchasing. 
You know the old saying 'if it sounds too good to be true, it is'
  • November 21 2011
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there are several homes located in areas of Illinois in that budget
  • November 21 2011
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Profile picture for normand488638
Thanks for all your responses. That put the puzze pieces in place. In fact those houses were pretty neat, many young and by the pictures, ready to move, so it look more like rental. Otherwise, excluding foreclosure homes wich don't have price mostly, other are 20k and up. A lot are still valuable for investment.
  • August 01 2011
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Profile picture for DBotticelli
My brother just bought a house in Inkster, MI for $2000.  However, in Las Vegas, what you're seeing is probably homes for rent.  I believe zillow pulls it's info from multiple sources and sometimes it confuses rental listings for homes for sale.
  • July 31 2011
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I am sure that is a mistake and the price you are seeing is a rental amount. Someone forgot to check the correct box. Thank You
Suzie Marquardt
[contact information and hotlink removed by Zillow moderator]
  • July 30 2011
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I assume they are HUD homes, sold "as is."  We have HUD homes listed in the Greater Cleveland Area (Northeast OH) as low as $1,000.  However, there are other HUD homes that are listed much higher.  Always remember, you get what you pay for.

  • July 30 2011
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In addition to what wetdogs said, Zillow could be pulling in RealtyTrac data, not sure. RealtyTrac shows defaults and low amounts could be a second or third notice of default. Either way what you are looking at is not what you are looking for. Try rent.com and see if those homes show up. 
  • July 30 2011
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Profile picture for wetdawgs
If there is a house listed at a ridiculously low price (such as the ones you mention), usually that is because somewhere an error was made and they are really for rent rather than for sale.   You can get more info on individual houses by clicking on the listing website found at the very bottom of the property details page.

  • July 30 2011
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