We have begun to nonchalantly scan real estate ads. Nothing but gloom and depression is to be found on the pages of recent ads. Basically it takes $250,000 to buy a junk heap in the Sacramento area (of all places!). Today, for instance, I opened up an ad to see a picture of a small, old, modest house for sale in Citrus Heights. Citrus Heights is a decent area, but certainly nothing fantastic or ritzy. The price was $225,000 and here is the property description:
"Major fixer! All units red tagged by city. Possible tear down. Please be careful when viewing, many trip hazard. Seller will provide no warranties, no reports, no clearances, and no repairs."
Talk about an "ultimate seller’s market."
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