Land For Sale - 1-Square-Inch / $1500

[jeffrey]

<i>A tiny parcel of land in southwest Indiana is some of the priciest real estate in the world. Owen County officials are trying to sell a 1-square-inch plot of land for $1,500. At that rate, an acre of land would cost nearly $7 billion.

No buyers ponied up for the postage-stamp-sized plot during a tax sale.

"It's too small to plant a flower on," said Peter Dorsey, with the county's mapping department...</i> <a href="http://apnews.excite.com/article/20051112/D8DR4BN08.html">Entire Story</a>

[jeffrey]

Re: Land For Sale - 1-Square-Inch / $1500

Update

<i>A Michigan real estate developer who was the highest bidder for a square-inch piece of land in Owen County came to town to pay $1,752 for the tiny parcel.

Burton Farbman's real estate development company in the Detroit suburb of Southfield now owns what could be the world's most expensive piece of real estate. An acre of land at that rate would cost more than $10 billion, The Herald-Times of Bloomington reported Wednesday.

"This property fits in with the 30 years we have been in business, where nothing has been too small or too large for our company to handle," Farbman said when he paid for it Tuesday. "My passion is real estate. It would be part of history to own the most expensive and smallest piece of property ever sold...</i> <a href="http://www.usatoday.com/money/perfi/housing/2005-12-07-inch-sold_x.htm">Entire Article</a>