Some people who have emailed have suggested that they think the price is missing a "0", so that the real price is $233,000 instead of $23,300. Or else they think the house must be unlivable, and/or the outbuildings are junk. Or else they think the whole thing is some kind of a scam. I am here to inform everyone that none of those hypothetical catches are accurate, and that this is a real opportunity to buy a big chunk of real estate for a small chunk of money.
By far the most important reason why the price is not too low is that real estate is very inexpensive in this area and always has been. In other words, this property is located in real, true bargain country. This has always been a lightly populated, rural area. It's been an overlooked, best kept secret kind of location relative to the United States as a whole.
And this area is not part of the real estate crisis, where the value of real estate is dropping because it was run up too high. The buyer of this property will not have to worry about the value of this property dropping more than a trivial amount due to the real estate crisis that is found elsewhere.
Another reason why the price is so low is that the property being sold has not had any extensive and expensive full scale room updates in the last 25-30 years. For example, it does not have a recently updated, fully modern 2008 kitchen. Rather, it has a 1980 style kitchen. Speaking hypothetically, had the inside of the house been updated recently, the selling price would be as high as $32,500, depending on what was updated and how recently it was updated. If aside from this the grounds were spruced up, the roofs of the barn and of the work shed were fixed, and new house windows were installed, the market price would creep closer and closer to $40,000.
The house did have within the last 30 years a nice new metal roof installed, new aluminum siding, new bathroom fixtures, a few new windows, and a few other relatively minor upgrades, but for the most part, on the inside the house looks and functions similar to the way it did 25-30 years ago.
So the list price of $23,300 is not missing a zero at all. It is a true bargain in a bargain location so to speak.
Another way to think of this is to note that if this same exact property were almost anywhere else, the price of it would be much higher. For example, if this property were 25 miles from Denver, the price would be 5-8 times what it is, between $115,000 and $185,000. If this property were 25 miles from Wichita, it would be about 2-4 times what it is, between $50,000 and $90,000. If this property were in Wyoming in mountain country, it would be even more than what it would be 25 miles from Denver, because there is great interest among higher income and wealthier people to live in Wyoming as opposed to Kansas.
