No, there aren’t any $1 stores in Birmingham, and we certainly aren’t selling houses for $1. For those of you who haven’t read our Birmingham and Bloomfield Hills real estate market statistics in the past, you may notice that for the sold homes, the lowest sales price is always $1. This does not mean that a bargain hunter got a really fabulous deal. Heck, at a buck a piece, there obviously wouldn’t be any unsold homes What actually happens is that the sales price is hidden from public viewing at either the buyer or the seller’s request, usually for privacy. $1 is recorded on the deed and in the MLS. If you ever did want to know the actual sales price of a home that was recorded as $1, it could be calculated by looking at the amount of transfer tax paid at close. You can go to the city or county to get that information.
[tags]dollar sale, birmingham michigan, bloomfield hills, dollar sales[/tags]
Written by Maureen Francis
SKBK Sotheby's International Realty, 248.430.4450
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