What $75,000Buys You Now

Homeowners know the bad news too well: residential real estate values have plummeted more than 25% nationally during the Great Recession, as much as 40-50% in some metro areas. The good news? The depressed housing market looks more and more like a giant opportunity for young first-time buyers lucky enough to have stable jobs, investors in rental properties, even empty nesters with enough equity left in their existing homes to downsize.

Here are 10 nice homes for sale in solid urban and suburban neighborhoods with asking prices under $100,000. See if you are as surprised as we were at how far $75,000 goes in some parts of the country. The median home price nationally hovers around $240,000.

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By Amy Pollak

Cleveland, Ohio

Asking Price: $89,900

Square Footage: 1,170

Bedrooms: 3

Bathrooms: 2

Upgrades to this 1927 colonial include a deck, new flooring, and a finished basement. It's located in Lakewood, a community right on Lake Erie about 5 miles west of downtown Cleveland. The median home price in hard-hit Cleveland is just $47,000, far below the national average.

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Dallas, Tex.

Asking Price: $83,000

Square Footage: 1,093

Bedrooms: 3

Bathrooms: 1.5

This mid century modern style home is located in the Santa Garza neighborhood five miles east of downtown Dallas. White Rock Lake is close by. It features new wall-to-wall windows, updated floors and a renovated bathroom.

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Decatur, Ga.

Asking Price: $65,000

Square Footage: 1,914

Bedrooms: 3

Bathrooms: 2.5

Built in 1993, here's the least expensive home on our list. Decatur is a suburb about 6 miles east of Atlanta, where metro housing prices have traditionally been far lower than the national average. It's located on a corner lot in a highly regarded local school district.

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Detroit, Mich.

Asking Price: $89,000

Square Footage: 3,800

Bedrooms: 4-6

Bathrooms: 3

Here's what the housing market has become in one of America's most downtrodden cities. This tudor-style home has a 3-car garage, two full kitchens, 10-foot ceilings, a jacuzzi tub, and a finished basement. Located in the northwest Detroit neighborhood of Jefferson Chalmers, it could accommodate a large family or be turned into a rental property.

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Kansas City, Mo.

Asking Price: $90,000

Square Footage: 2,921

Bedrooms: 5

Bathrooms: 1

Built in 1885, this Victorian-style house in the Pendelton Heights section of town has several fireplaces, a butler's pantry, stained glass windows, and original hardwood floors and molding. It's less than 2 miles from downtown Kansas City.

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Las Vegas, Nev.

Asking Price: $89,500

Square Footage: 1,404

Bedrooms: 3

Bathrooms: 3

The Las Vegas metro housing market has been among the hardest hit in the nation. This home is located 9 miles north of the Las Vegas Strip. The owner recently reduced the asking price by $5,000.

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Nampa, Idaho

Asking Price: $85,000

Square Footage: 1,546

Bedrooms: 3

Bathrooms: 2

Nampa is a suburban community 15 miles southwest of Boise. This home comes with stainless steel appliances, upscale landscaping, and an updated electrical system.

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Penn Hills, Pa.

Asking Price: $72,999

Square Footage: 1,218

Bedrooms: 3

Bathrooms: 1

Even though this home was built in 1956, virtually everything on the inside has been overhauled--the kitchen, bathroom, flooring, windows, doors and electrical. Penn Hills lies 6 miles east of Pittsburgh.

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Syracuse, N.Y.

Asking Price: $79,900

Square Footage: 1346

Bedrooms: 3

Bathrooms: 1

This 1913 Northside bungalow has been updated and well maintained. It features new windows, plus hardwood floors and moldings. It's located less than 5 miles from downtown Syracuse on a tree-lined street in a middle-class neighborhood.

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Sioux City, Iowa

Asking Price: $95,000

Square Footage: 2664

Bedrooms: 4

Bathrooms: 2

The asking price recently dropped by $24,000 on this spacious home located on the north side of town. It features crown and baseboard moldings, hardwood floors, several fireplaces, and new windows, all in a family-friendly neighborhood.

See more about the area from Trulia.