Virtual Real Estate

$3.8 Million For A Genuine One-House Town

Someone in Italy placed the winning bid of $3.8 million for an unpopulated, one-house Texas town auctioned online. No one lives permanently in the 13-acre town of Albert, about 60 miles north of San Antonio, but the tavern created from the frame of the old general store is open on weekends. But before town owner Bobby Cave signs the deed over, he must ensure the eBay bid is legitimate. Cave said that unlike the usual items bought through eBay, there are no contractual obligations when it comes to real estate.

FOOTNOTE: Texas, the lone star estate.