Thursday, October 29, 2009

FDIC real estate for cheap ...?

So I happened upon this website the other day when searching around for blocks of homes. And I'm not sure how realistic it is, but if so it has some potential and I'd love to share it with you. It's a search site for FDIC property for sale. They own a lot of stuff now and if you want to take a peak at what they're able to sell you, here's a good place to start:

http://www2.fdic.gov/drrore/

I've played around with it a little and it's interesting to check out, if only to see what the FDIC is disclosing for sale. There seems to be some ridiculously cheap houses out there. Though, who's to say what they look like or what condition they're in or what neighborhood they're in...yah-dah yah-dah yah-dah. There's a place I found in Oakland for $84k. That's not bad...the land's probably going for more just by itself. Is this home in the best of Oakland's neighborhoods? Probably not. Still, check out the website and have fun!

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