Sending Stockton our sympathies
Filed under: Bargains, Real Estate
Poor Stockton California just can't get a break. The community of 300,000, located between Modesto and Sacramento, recently earned the dubious distinction of being home to the cheapest house on the market in California.
The cost? $25,000. (Although the house in the photo to the right is appropriately rustic, it is not the house in question.)
While we prefer to avoid superlatives, and have to believe that there is a mobile home lurking somewhere out in the bleakest corner of the Mojave Desert that must be listed for less, reports say that the 600-square-foot two-bedroom home was cited as "the least expensive single-family home in the seven-county area served by the Metrolist multiple listing service that doesn't involve a bank-owned or short sale transaction."
Them's fighting words. Especially piled on top of reports that called Stockton "Ground Zero" for the housing meltdown (although many communities may be in contention for that honor) and a recent Forbes' report which put it at the top of the "Most Miserable Cities" list.
Stockton led the country in foreclosures in 2007, with one out of every 30 homes posted for foreclosure. Ouch. In 2009, Forbes also called Stockton "America's fifth most dangerous city" because of its crime rate. Need more? Charles Manson family member, "Squeaky Fromme," called Stockton home for awhile. But then, even she moved on.
If real estate is all about location, location, location, is $25,000 too much to pay for a home in a town that some have referred to as "the armpit" of California? Ask an investor buying property in Detroit what they think.




Reader Comments (Page 1 of 1)
10-25-2009 @ 10:55AM
lonnie mcvaigh said...
I live in Taylor, Mi a Detroit burb. Texas is far worst than California! How would you like to try to sell a house from a State that wants to sucede? Whats worst is nobody complained like that State is worthless and everone knows it. Even Skeeqy Fromm left it off her list what with all the wimps, whiners and childish make believe kiddy-cowboys. Real men don't let there mommies dress them or walk away dramatically claiming to sucede, as if to slam a door...
Steelworker, Pile Driver Yankee from Motown, California is sweet but I don't even vacation in Texas no more, Mexico has better values...
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11-01-2009 @ 2:46PM
morekare said...
I lived across the street from a 1950's tear-down (2 bedroom, 1 bath rat-infested) worth about $10,000 for 30 years. The old woman's husband built the house in the 50's. He died. When she couldn't do things for herself anymore, then her lazy fat-assed daughter moved into the old house with her hundreds of cats. The house was a terrible eye-sore. Then the old woman died and the daughter's conservator sold the house to the city as a city historical piece of property???? The property real estate appraiser obviously committed fraud. It sold for $875,000!!! The new owner tore it down and built a $2.8 million dollar mansion and the mansion is still for sale after 3 years. Nobody has lived there in the mansion for 3 years. What a waste. What fraud!! Since it is still for sale then the city can't collect any taxes on the property. There is a lot of real estate fraud.
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