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real estate

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.

by: Kiplinger Team
January 1, 2012

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.

The slideshow begins with the navigation bar to your right.

By Amy Pollak

1 of 11

Cleveland, Ohio

Ted Theophylactos, Howard Hanna

Asking Price: $89,900Square Footage: 1,170Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

2 of 11

Dallas, Tex.

Danna McCaig/Ebby Halliday Real Estate

Asking Price: $83,000Square Footage: 1,093Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

3 of 11

Decatur, Ga.

Terry Goldman/Metrobrokers.com

Asking Price: $65,000Square Footage: 1,914Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

4 of 11

Detroit, Mich.

Mary Wise/Keller Williams

Asking Price: $89,000Square Footage: 3,800Bedrooms: 4-6Bathrooms: 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.

See more about the area from Trulia.

5 of 11

Kansas City, Mo.

John Simone/Reece & Nichols Realtors, Inc.

Asking Price: $90,000Square Footage: 2,921Bedrooms: 5Bathrooms: 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.

See more about the area from Trulia.

6 of 11

Las Vegas, Nev.

Amy Kohlin/Coldwell Banker Wardley

Asking Price: $89,500Square Footage: 1,404Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

7 of 11

Nampa, Idaho

Kristie Patterson/Keller Willams

Asking Price: $85,000Square Footage: 1,546Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

8 of 11

Penn Hills, Pa.

Stacey Kovaly/Win Realty

Asking Price: $72,999Square Footage: 1,218Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

9 of 11

Syracuse, N.Y.

Michael Arcuri/Syracuse Realty Group

Asking Price: $79,900Square Footage: 1346 Bedrooms: 3Bathrooms: 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.

See more about the area from Trulia.

10 of 11

Sioux City, Iowa

Key and a home sign, Real Estate Concept

Barb Kimmel/United Real Estate Solutions

Asking Price: $95,000Square Footage: 2664Bedrooms: 4Bathrooms: 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.

11 of 11

More From Kiplinger

SLIDE SHOW: 10 Best Cities for the Next DecadeSLIDE SHOW: 8 Easy Projects to Add Value to Your HomeSLIDE SHOW: What $500,000 Buys You Now SLIDE SHOW: U.S. Cities With Highest Cost of LivingSLIDE SHOW: 10 Energy-Efficient Moves to Do in a Weekend

  • buying a home
  • real estate
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