Why in some places why is real estate so cheep?

Question

Also, in places houses are for sale for around 100 dollars why? and whats the deal and the catch?

Answer 1

Depending on the area of the United States you plan to purchase a house. It really has a lot to do with the availability to build additional houses.

In the Los Angeles for instance there is no land to build any new houses what so ever. What little land there is to build a house is expensive and will cost the same as the house next door when completed.

In the South there is still lots of vacant acreage to build houses on, especially in places like Arkansas, Alabama, Georgia and Mississippi. I imagine there are other states in the south also that have cheap houses for sale, but those are the ones I have visited and looked at the prices of houses. Since they are not located in a large city they are cheaper to build thus making them a lot cheaper to purchase.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

supply and demand