Profile picture for ceez97

Why are some homes listed as low as $2000 for sale?!?

I am first time home buyer looking and trying to decide whether to buy or rent.  In the meantime I've been looking over zillow and find homes listed for ridiculously low prices such as this one:

http://www.zillow.com/homedetails/1110-Cotorro-Ave-Coral-Gables-FL-33146/2136285448_zpid/

It says $2000 and even the price history shows listed for $2000 @ $1.00 sqft.


Why are some homes listed like this?


Thanks!
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August 01 2010 - Coral Gables
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Answers (7)

Zillow doesn't necessarily have accurate information. It's usually a mistake. The best thing to do is look in Realtor.com or contact a Realtor for a refined search through MLS.
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August 23 2010
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Interesting comment.
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August 19 2010
It's a human error or listed as a rental/lease price. Like the old adage goes, "if it seems to good to be true......."
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August 19 2010
Profile picture for ceez97
thanks for the answers, so it's either the agents entering incorrect data or zillow not understanding what's coming from the mls.


at least I know now to ignore those as rentals.


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August 02 2010
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While Zillow can distinguish between rentals and sales for most properties, sometimes people goof when entering the price and a couple of the data feeds recently have mixed up as they've entered the Zillow database.
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August 01 2010
I believe that is a rental price, Zillow cannot distinguish between rental and sale.
If you are serous about buying, you do really need to contact an agent  in your area.  Such such as this are a great price to get an idea of teh market, however the MLS is updated on a minute by minute basis and have the most up to date information.

Good luck!
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August 01 2010
My guess is it is a lease price that was listed incorrectly. There are a lot of good agents in your area. Why don't you contact one that will help you figure out what is really obtainable. Right now there is a problem with short sale homes that are offered way below the market trying to get an offer so the debt holder will start the process of determining an approved short sale price. A very low price may be because there are unpermitted additions or other work that need to be corrected by the new owner.
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August 01 2010
 
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