Nope, you can't buy a home for $6 per square foot
GIGO: Garbage in, Garbage out. In today's information age, we need good information. Incorrect data entry will lead to bad information and incorrect assumptions. Here's an example.
I just noticed a home listed for sale in the Charleston MLS at $6.08 per square foot. Except the square footage listed for the home is not correct, it's actually the square footage of the lot. Here are the screenshots:
So what's going to happen is that when all the statistics are compiled in the Charleston MLS, this one data error will lead to a misleading conclusion because it will drag down the price paid per square foot for all homes.
Now the good news is that it won't affect any appraisals because the appraiser will look at this data and know that it couldn't possibly be accurate and not include it as a comparable. The bad news is that the appraiser is going to have to do extra work unnecessarily.
And with the Charleston MLS using a self reported system by its members, that's why there is always the disclaimer, information deemed reliable but not guaranteed.
In this case, I guarantee it's not reliable information.