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Ghost town Swett in South Dakota slashes asking price to $250k

While $250,000 wouldn't normally be enough to get you even a small-sized family home, there is one place where your money will go a lot further, and that's in the infamous ghost town of Swett in South Dakota. There, you can buy the entire town at that price, after its asking price was reduced from $399,000.

Image credit: Rapid City Journal

The town was first listed in July 2014 by Stacie Montgomery, with Keller Williams Realty of the Black Hills. What with it being an entire town up for sale, news of the listing quickly went viral, inspiring all manner of YouTube videos, hit songs and failed reality TV shows – but sadly for the owners, the news didn't inspire anyone to buy.

Montgomery said that three solid offers on the property were received, but the Rapid City Journal reports that each of these fell through “for a variety of reasons”, including one of the proposed buyers failing to gain bank financing.

Now though, the town has been reclaimed by the Nebraska bank that owns the mortgage on the town. That led Montgomery to repost the listing, which comes with one haunted house, one tavern and 6.16 acres of real estate, at the reduced price.

Montgomery told the Rapid City Journal she was surprised the property hadn't sold at the initial asking price. However, she says she's now very hopeful of finding a buyer after the bank decided to clean up the town, towing away three derelict mobile homes and a truck, before slashing the asking price.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

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