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Buy an Apartment in Orange County—Yes, the O.C.—For $1

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Turns out, for the price of four gum balls, two-thirds of a 20-ounce soda, about a quarter of a gallon of gas, or half a load of laundry, anybody can snatch up a property in SoCal's Orange County—and get $1,500 to spruce the place up, too. This studio home in Laguna Woods, Calif., is on the market for a mind-boggling $1. Sure, the brokerbabble is less than assuring—the home is "ready to decorate" and the kitchen "includes a refrigerator and just enough space"—but, come on, these days it's hard to find anything, much less a residence, for a buck. Even the inconceivably priced "slightly fire damaged" Detroit home, now on the market for $800, is outlandishly expensive in comparison.

Of course, there's the minor blip that this fourth-floor, 500-square-foot (that's $0.002 a foot, mind you) studio is located in a retirement community, but, hey, that's actually a plus in its own right: the property comes with "delicious gourmet dinners," cable, housekeeping, planned activities, and shuttle service to shopping, restaurants, and, um, hospitals. Another bonus? The entire place is "just the right size." For what? Why everything, of course. The place last sold in 2005, when it went for $39K. It listed in August for $499, got a pricechop in September, and has been floundering on the market with a $1 price tag for nearly three months now. Perhaps that could be because home owners association dues total to a much more grandiose $1,718 a month, making the place yet another false $1 bargain. The person who buys the place gets a $1,500 credit for "carpet and paint," but it's unclear whether that will be enough to salvage what's here, the interiors are très grimy. Take a look, above.
· 24055 Paseo Del Lago [Redvin via Redfin Blog]
· Decent-Looking Detroit House Asks Inconceivable $900 [Curbed National]