he residential real estate market thrives on competitive pricing, and this $1 home sent potential Michigan homebuyers into a tizzy.
The overzealous Zillow listing for the Pontiac, Michigan, house calls it the “World’s Cheapest Home” but more importantly, “a ticket to the real estate adventure of a lifetime.” It’s a cozy, two-bedroom, one-bathroom home that sits at a modest 724 square feet with “avant grade” features including a sometimes leaking roof and a “floor hole” located next to the furnace.
“Whether you’re dreaming of flipping for glory or embarking on a lucrative leasing venture, this home’s potential is as limitless as your imagination,” the listing boasts. “Buckle up for a journey filled with twists, turns, and a whole lot of character. Don’t just buy a house—buy an experience.”
The creative writing paid off—the home’s realtor Chris Hubel confirmed to FOX Business that the house sold for $52,000 after receiving a whopping 142 offers.
Hubel, who works with Good Company Realty, said that the offer was an all-cash deal and revealed that he received over 4,500 calls from interested buyers who had seen the Zillow listing, noting that the listing had an estimated 250,000 views in just one week of being posted.
The listing was posted on the popular Instagram account “Zillow Gone Wild” where it received nearly 31,000 likes and hundreds of comments from viewers questioning whether or not the house was filled with “demons” or other spirits.
“Finally something within my budget,” one user joked with a laughing emoji.
“I’ve bought worse for a whole lot more,” another said.
The lowest offer that the team received for the Pontiac property was for a humbling $0.27.
“This was kind of an experiment to show that when you underprice a home, the market is just going to tell you what the true market value is,” Hubel told FOX Business. “Since we did it the way that we did, we increased exposure and all of a sudden this home is marketed to the entire world as opposed to just the local market, which obviously impacts the sales price and that’s a little more money.”
According to Zillow, the home was last sold for $4,092 in February 2022.
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