Would You Pay $103,000 for This Arizona Fixer-Upper?

[w¡n9Nµ7 §£@¥€r 123]

AVONDALE, Ariz. -- The little blue house rests on a few pieces of wood and concrete block. The exterior walls, ravaged by dry rot, bend to the touch. At some point, someone jabbed a kitchen knife into the siding. The condemnation notice stapled to the wall says: "Unfit for human occupancy."

The story of the two-bedroom, one-bath shack on West Hopi Street, is the story of this year's financial panic, told in 576 square feet. It helps explain how a series of bad decisions can add up to the worst financial crisis since the Great Depression.

Less than two years ago, Integrity Funding LLC, a local lender, gave a $103,000 mortgage to the owner, Marvene Halterman, an unemployed woman with a long list of creditors and, by her own account, a long history of drug and alcohol abuse.

http://online.wsj.com/article/SB1230936149...eTabs%3Darticle

[Niels Bohr 72]

Turn this into the Bunny Ranch II.

For those of you who have never been to the Bunny Ranch in Carson City, NV. I think it'll be worth a try. I recommend EDEN 38DD. She's the best!

[w¡n9Nµ7 §£@¥€r 123]

For those of you who have never been to the Bunny Ranch in Carson City, NV. I think it'll be worth a try. I recommend EDEN 38DD. She's the best!

The 'hobby' review site is that-a-way ------>

[Niels Bohr 72]

I was watching HBO, and CATHOUSE was on. That was how I heard of the Ranch.

[w¡n9Nµ7 §£@¥€r 123]

I was watching HBO, and CATHOUSE was on. That was how I heard of the Ranch.

Bullsh1t.

[William33 110]

Moron lenders....I have some spare rope available....

[spookyturtle 9,466]

My shed is in better shape than that.

[Amby 490]

Maybe the land is worth a lot?

[Jasman0717 9]

100K, is it on 50 acres

[DeadPoolX 9]

I was watching HBO, and CATHOUSE was on. That was how I heard of the Ranch.

Bullsh1t.

AJ would know. He regularly visits the Bunny Ranch.

[Ban Hammer 13,678]

AVONDALE, Ariz. -- The little blue house rests on a few pieces of wood and concrete block. The exterior walls, ravaged by dry rot, bend to the touch. At some point, someone jabbed a kitchen knife into the siding. The condemnation notice stapled to the wall says: "Unfit for human occupancy."

The story of the two-bedroom, one-bath shack on West Hopi Street, is the story of this year's financial panic, told in 576 square feet. It helps explain how a series of bad decisions can add up to the worst financial crisis since the Great Depression.

Less than two years ago, Integrity Funding LLC, a local lender, gave a $103,000 mortgage to the owner, Marvene Halterman, an unemployed woman with a long list of creditors and, by her own account, a long history of drug and alcohol abuse.

http://online.wsj.com/article/SB1230936149...eTabs%3Darticle

you could build that entire thing for less than 30k of lumber.

[w¡n9Nµ7 §£@¥€r 123]

You rarely pay for the cost of material alone. You pay for the location.

Edited January 4, 2009 by A.J.