The owner of a three bedroom house in Detroit is willing to trade his house for an iPhone 6.

From an original price of US$5,000, a Detroit homeowner has dropped the selling price of his three bedroom two-story brick colonial on Detroit's east side to that of a new iPhone 6.

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According to real estate agent Larry Else, the home owner's initial decision to sell the house came as the tax auction season nears, where thousands of houses to be foreclosed will "flood the market."

The listing said that the house was 2,400 sq. ft. and located 11954 Laing in the neighborhood beside Morang Avenue and Kelly road.

According to the listing, the house is an "investor special" and has a basement, one-and-a-half baths, and a two-car garage.

However, it has a missing door and broken windows.

Else said the house "doesn't amount to much", although he had not personally been inside the house because of a company policy preventing brokers to enter unsecured houses alone.

According to Else, the neighborhood was "a little dicey."

The owner who proposed the trade is residing in Austria, and has never lived in the house.

Else said the owner, who refused to be named, had been ripped when he bought the house.

The house was bought by the owner for US$41,000, with the promise that he will quickly make a return of investment by renting out the property. Unbeknownst to the owner, the person he bought it from only got the house for US$10,000 a week before it was sold to him.

At present, the property is up for foreclosure because of back taxes amounting to more than US$6,000.

The owner said he will accept an iPhone 6 in exchange for the house, but will also be willing to take a 32GB iPad.

Tagsman trades house for iPhone 6, technology, technology news, Society news, detroit homeowner