CHICAGO (Commodity Online): Apparently the U.S foreclosure crisis has cheap home buyers making bargain purchases on eBay. With some moderate sized homes selling on eBay outright (free and clear of liens) for less than $5,000.One cheap home sale took place October 8, 2009, where a large 4 bedroom, 2 bathroom, Victorian home located in Oil City, Pennsylvania received 23 bids (Selling on eBay) before it sold out right for only $4,100.



According to James Massey, publisher of www.AffordableHousingAuctions.com, a free website which tracks cheap home auctions nationwide. “In our current economic situation, people in hard hit areas are understandably scared to commit to a home purchase, it’s likely affecting the bidding. I’ve been seeing homes in those (economically distressed) areas selling for less than $5,000 for awhile now.”

Massey added; “Regardless of low prices, it’s important to proceed with the utmost of caution before buying in an auction situation. Making sure a neighborhoods safe, the house (structurally) sound, and the title clear, should be a top priority before bidding on anything. (Courtesy: Webwire)

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