Detroit house on market for just $1

$1 house is just 1 of 795 properties in Detroit priced at less than $10,000

DETROIT – The house at 4700 St. Clair Street in Detroit is bank owned and on the market for $1.

There are no back taxes to pay but the house is in pitiful shape. It's hard to look at.

The property made international headlines when it was featured in a story in the United Kingdom's Daily Mail. Someone pointed out that even a Barbie Dream House costs more to buy than some Detroit properties.

That's all true, but not everyone is hanging crepe paper just yet.

"What that's really telling us is we have more opportunity here than anywhere else in America right now. The glass is not half empty, it's half full. This is an opportunity to remake and rebuild our society," said Michael Daniels.

The bigger issue than the $1 home is this: 795 properties for sale on the Michigan listing service in Detroit all for less than $10,000. For every bit of progress the city sees in places such as Midtown, it just drives home the enormity of what needs to happen here for real change.

How much longer will homes languish in this town for 4 quarters?

"I think it could really take a while for the rebuilding to grow out of the core of the city but it is happening," said Patrick Simpson, who lives in Woodbridge and sees homes getting renovated in his neighborhood..

A small ray of hope? The listing agent says interest has recently been shown in 4700 St. Clair.

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