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For home buyers looking for a deal, may be the answer. Nine homes were recently listed in the area for one dollar and six properties were listed for $100, according to data.

What will a $1 get you? A three-bedroom, 1,300 square foot “fixer upper.”

Detroit has been hard-hit by foreclosures and a high unemployment rate the last few years.

The average sales for a Detroit home was $17,135 as of September 2012, according to the of REALTORS®.

The average price of a home in Detroit has been below the average price of a new car since 2008, according to , an economist at the University of Michigan.

“You can buy two houses in Detroit for the price of one car,” The Foundation reports.

The big bargains in Detroit may provide an opportunity for revival in Detroit, Perry says.

“There’s great opportunity for some people to move back into these neighborhoods, fix these houses up, and bring the city back,” Perry says.

In recent months, Detroit has been seeing a in home prices, higher sales, and a in building activity, says , chief economist at Comerica Bank Robert. But unemployment remains high — at 12.3 percent in August 2012.


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