This is definitely a cool place ...

[PZ]

... if you like old mining ghost towns.

Last year Cerro Gordo, a ghost town about 3 hours east of Los Angeles was put up for sale - asking price was $985,000,000. A young man purchased it for $1.4M because believe it or not, there was a bidding war!

This is the link to his YouTube channel

This is his introductory video:

[Dweller_Benthos]

Weird. Though is that price right? 985 million and they bought it for 1.4 million? Was it 985,000?

[PZ]

Yes, the price was correct - it seems like even old ghost towns are going the way of supply and demand. Here in my area a house might be listed for say $600,000, but because so many are interested, it works more like an auction with each interested party trying to outbid the other.

[Art Blade]

I think dweller's got a point.. 985 MILLION (almost a BILLION) vs buying it for a tiny fraction of only 1.4 million. If you call that a "bidding war," I'll have to significantly change my view of things.

In your example, it would mean that someone, after a bidding war, would purchase your $600,000 house for merely $767,--

[PZ]

oops, my bad - $985,000

[Dweller_Benthos]

Those extra zeros will get you every time!

[PZ]

Sure do... the more of them the more one needs to pay attention to the groups of three