A disabled mother of six who took to Craigslist last month to swap her family home for a car has finally gotten what she wanted: trading her four-bedroom house in the Detroit neighborhood of Russell Woods for a 6-year-old minivan.
The city values the house (pictured above), located in an area where Diana Ross and the Supremes once lived, at $96,000. The vehicle valuation company, Kelley Blue Book, puts the worth of this kind of van, a silver 2006 Chevrolet Uplander with 85,000 miles, at between $5,000 and $8,500.
Despite a number of perhaps better offers that flooded in from across the nation -- including a 1996 Chevrolet Corvette and a 1996 Bentley Brooklands -- LaWanda Flake, 36, said that she made the decision from her heart.
"I took one of the first offers I got because I felt like it helped us both," Flake told The Detroit News. "They needed the house more than anyone I spoke with. I really feel like I made a good decision."
Though some might beg to differ, it seems that the unique deal may have worked for Flake, whose "desperation" for a vehicle to drive her kids around in led her to post the Nov. 7 Craigslist ad. Additionally, though Flake had purchased the 2,000-square-foot, four-bedroom, three-bathroom home for a mere $3,500 at a tax foreclosure sale, she claimed that she had no more money to invest in the repairs and renovations necessary for the home.
Flake says that the new owners are "excited" to begin renovating the house, which lacks a water heater and furnace.
Since the swap, Flake and her family have moved into another house in Detroit, a three-bedroom which she picked up on a bargain $4,000 land contract.
As home prices continue to look for a bottom and our economy slogs along at a snail's pace, people are understandably leery about committing to a home purchase. But living within your means as a homeowner doesn't necessarily mean settling for a mediocre house.
As these places demonstrate, a fairly modest sum can go pretty darn far in the way of dwellings these days. Click through our gallery to check out how much house $75,000 buys across the country, and see if you don't agree.
A unit in this Atlanta building, touted as "historic" in its listing description, recently underwent a price cut that makes it quite a deal. The home features hardwood floors, high ceilings and puts you close to nearby retail and restaurants.
The home puts you close to downtown, two state parks and a bike path, according to the listing. Having undergone renovations over the last few years, the interior boasts refurbished windows, hardwood floors and kitchen tile, along with a fresh coat of paint.
This remodeled villa-style home just had its price slashed by $5,000, as the owner and bank continue to try and make a successful short sale. Community facilities include a playground, racquetball courts and tennis courts.
Clocking in at just $40 a square foot, this home's low price is by no means unheard of in a market many consider to be ground zero of the housing bust. The interior features both a living room and family room, while the property's compact plot boasts a fenced backyard along with neat landscaping.