In my suburban area, a typical group of residential real estate listings includes the following:
1. A detached single-family home for $600,000.
2. A two-bedroom condominium for $650,000.
3. A three-bedroom townhouse for $800,000.
Yes, that's right ... the cheapest homes on the market are the detached single-family homes.
That's because the 1960's house is a tear-down. The others are newer.