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Home buyer finds $100k comic book in $10k home’s walls

After outbidding a competitor by $100 for a cheap fixer upper home, the new owner discovered a rare comic book in the walls which is now causing a bidding frenzy.

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Unexpected comic book find during home demolition

It’s always nice to find something unexpectedly pleasant when you had no intentions of doing so – like finding money crumpled in the pocket of your jeans. For home remodeler David Gonzalez, that valuable find came in the form of a 1938 Action Comics #1 book stashed among newspapers in the walls of a Minnesota home he was remodeling.

Superman is featured on the cover of the book with his arms stretched upward, hoisting a car. With the comic already receiving bids upwards of $100,000, it’s likely that Gonzalez is joyfully waving his hands in the air as well.

Gonzalez purchased the Elbow Lake, Minn home for $10,100 after beating out another buyer by $100. His increased bid was well worth the more than 10 time projected payoff and has to be the highlight of a day that was designated for demolition work. Thanks to a family looking to insulate their home, Gonzalez uncovered a treasure that comic book lovers everywhere are salivating over.

Miraculous that it survived

“This is like a virgin comic,” said Vincent Zurzolo, a co-owner of ComicConnect.

“It’s so hard for anyone to fathom that, in this day and age, you could still discover a comic book that nobody has known about because this book was in a wall of a house for more than 70 years,” he said. “It’s pretty miraculous that it even survived and it’s only had one owner.”

Gonzalez is selling the comic book through an online auction that will officially close on June 11. The fact that the book has only had one owner makes it rare, as most Action Comic books have been through several cycles of resale given their original publishing dates.

But even though this will add to the book’s value, the potential bid price of the book took a severe hit when Gonzalez first showed the book to some of his family members. His wife’s aunt grabbed the book, and as Gonzalez grabbed it back, the back cover was torn. Comic book retailers estimate that caused the value of the book to drop by a painful $75,000.

Destiny Bennett is a journalist who has earned double communications' degrees in Journalism and Public Relations, as well as a certification in Business from The University of Texas at Austin. She has written stories for AustinWoman Magazine as well as various University of Texas publications and enjoys the art of telling a story. Her interests include finance, technology, social media...and watching HGTV religiously.

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3 Comments

3 Comments

  1. Gary Little

    May 30, 2013 at 11:05 am

    I think the wife’s aunt will now be off the Christmas card list.

    • Lani Rosales

      May 30, 2013 at 12:48 pm

      I don’t know, he WAS the one who ripped it out of her hands…

      • Gary Little

        May 30, 2013 at 2:54 pm

        I guess we’ll have to wait for the inevitable lawsuit to sort it out 😉

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Austin

Austin tops the list of best places to buy a home

When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?

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Looking at the bigger picture

(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).

That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).

They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.

“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”

Click here to continue reading the list of the 12 best places to buy a home…

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Housing News

Average age of houses on the rise, so is it now better or worse to buy new?

With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.

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The average home age is higher than ever

(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.

With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.

Prices of new homes on the rise

Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.

Click here to continue reading this story…

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Housing News

Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?

The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.

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Why Realtors are vulnerable to these rapid changes

(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.

Note: We’ll let you decide which company plays which role in the image above.

So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.

1. Zillow poaches top talent, Move/NAR sues

It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.

Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.

2. Two major media brands emerge

Last fall, the News Corp. acquisition of Move, Inc. was given the green light by the feds, and this month, Zillow finalized their acquisition of Trulia.

…Click here to continue reading this story…

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