A friend of mine asked me today, “Would you buy a house anywhere in North America for $1000?”

I thought he was joking.

Where could something like this exist?  Wouldn’t the land alone be worth more?

I spent an hour today perusing the listings on Ebay Real Estate…

There are two ways of looking at this whole “selling real estate on Ebay” deal:
1) It will never work
2) Good for you for trying, though!

I happen to believe that both these points could apply.

Even in the United States, the MLS system dominates the real estate industry.  While their industry is open to many other real estate websites, Canada remains dominated entirely by MLS.  In the United States, websites such as www.zillow.com and www.trulia.com each have a significant number of listings, as well as many agents using the site to advertise their listings.

This brings me to www.ebay.com.  In the past month, I have made three purchases on Ebay: shirts, DVD’s, and golf balls.  But never would I have expected to purchase real estate on this auction website.

Never!

I have heard that there were real estate listings on Ebay, but I had never actually checked them out before.  I was skeptical at best, and while my opinion has changed little overall, it has definitely changed on the micro level.

I’ve come to the realization that certain types of properties across North America just can’t be sold by traditional means.  More specifically, this house in Detroit for $1000 pictured above.

Let’s take a closer look at this property, shall we?

Okay, so the house needs some work…

….a LOT of work!

In fact, the price quoted to renovate this house is about $28,000.

But let’s just assume for a moment that you aren’t going to renovate this house; you’re just going to “buy and hold.” Imagine being the “proud” owner of a 4-bedroom, 2-bathroom house in Michigan for $1000!

I know that this house is probably just around the corner from where Eminem lived in the movie “8 Mile,” but if you’re looking for a long, long-term investment, buying a house in a major city for a thousand bucks is worth a few moments of thought.

Ebay Real Estate is home to a multitude of different types of listings, be it houses, condos, buildings, or vacant land.  At the very least, it’s a good place to start a search if you’re looking for something vague or random and you don’t know where else to begin.

For example, let’s assume you have this “crazy” idea to buy a huge plot of land out west in the “middle of nowhere.”  Well, try telling the folks in Vale, Oregon that they live in the middle of nowhere…

Here is SIXTY ACRES of land for $44,750:

The Ebay auction description mentions that a live creek runs through the property, which is zoned for horses and livestock!  Yipeee!  Apparently, a record number of mule deer and antelope are raised here, as well as monster elk!

Anyways….if you wanted to buy a plot of land in Vale, Oregon, you could probably just type in “VALE OREGON” into Google and find something useful.  But more often than not, your search will return mostly results for useless websites owned by Realtors who try and solicit leads from the Internet.  If you want photos, prices, listings, and actual land for sale, Ebay isn’t a bad place to start.

Of course, you have to consider that your knowledge of slums in the De-troit ghetto and mountain terrain in Vale, Oregon is slim to none, so eventually you’d have to consult a Realtor and get some expert advice and guidance.

For practical purposes, does this Ebay real estate section provide any help?  Probably not.  Type in “TORONTO” and you’ll find only two listings; one for a private island in the Muskoka region, and one for a waterfront condo in Coburg, Ontario.

But if for nothing other than a few kicks, try looking up a few random places and exploring the real estate of North America!

I typed in “MANSION” and found this 12,000 square foot house in Texas that is offered for sale at a paltry $975,000.  The master bedroom alone is 1700 square feet!

I don’t think I’ll be buying this house anytime soon, but I can’t say that I’m not intrigued by a Detroit house for $1000.  I know how bad the real estate market is in the United States, let alone their economy as a whole.  But is it inconceivable to think that twenty years from now, Detroit will be cleaned up and perhaps that house and the land it’s situated on could actually have some value?

Buying that house in Detroit right now would be like buying a junk-bond for the same price, but there are all kinds of different “investments” in this world, so perhaps this is something to consider.

The Toronto Maple Leafs just signed a guy named “Jeff Finger” for $14,000,000 on Monday.  If I had to pick between the Leafs’ investment in Jeff Finger, and the house in Detroit, Michigan for $1000 as two long-term plays, I think I’d give the Leafs defenceman the finger and stick with the house…