Of course my standards my be lower than some, but I just had an offer accepted on a "dump" today. Wasnt even serious, I currently live in a mobile home and was just looking to maybe possibly buy some land to move my mobile home to get out of the dreaded trailor park. Got to looking at houses in the listings here on trulia while looking for land listings. Found a house listed at 29,900 with over 2000 square feet. Just for fun went and took a look at it, actually kinda hoping it would be totally horrible so we could put off this buying a house nonsense, haha. Yes it needs a new roof, some carpets are beyond salvaging with a cleaner, and some other pretty minor cosmetic things, but to our huge surprise it wasnt too terrible, again according to our standards, even had 4 bedrooms. Offered 24k yesterday and the bank accepted it this morning. 5k for the new roof and roughly another 3-4k for carpeting here and there and other minor cosmetic things and we're gonna have an excellent (to our standards haha) home for our family of 5.
While doing research on the property I discovered the previous owner lived there roughly 7 years, appears they didnt really tear the house up, but just didnt keep up with the little things that needed to be done, and after getting foreclosed on the house had been sitting empty for roughly a year or so. Couple years ago before everything crashed around here the property was valued at over 91k.