"Heh, here's a good one. I went and looked at this place - huge foursquare type, not terrible neighborhood, too bad it's a 100% total ruin (foundation half gone, porch sinking off the front of the house, broken windows, eaves totally shot etc etc). Great big house asking 116K - the punchline is from PortlandMaps, somebody named "Fast Cash House Buyer LLC" bought it in December 08 for 106k. Don't click the link too hard or the place will collapse!"
These guys are proving there's an angle in any market. It looks like they bought the house at a foreclosure auction and are turning around and putting it on the market with no work. No so much as a flip as a wholesaler.
It looks like a great house with lots of original "charm" intact, and a
Proving once again that he who has cash in a crisis is king. Course you gotta sell it first.