This could be your dream home. Asking price: $800,000. (Willow Glen Charm)
Posted on 04/12/2018 1:40:33 PM PDT by Responsibility2nd
(Newser) – It's certainly not the prettiest house on the block. But a burned-out home on a 5,800-square-foot lot in Silicon Valley could be yours if you have $800,000 to spare and act fast. "This is what it's worth," realtor Holly Barr tells KTVU of the San Jose home, which Fortune reports was destroyed by fire more than two years ago. She expects it to sell in a few days, noting 10 potential buyers reached out in the hours after photos of the home were posted to Facebook Tuesday. Despite its appearance—with a gaping hole in the roof, no siding, and a leaning fence—the abandoned house in the Willow Glen neighborhood has a few things going for it: It's close to the proposed Google Village, where new offices are likely to be built. And "you save a lot of money when you … do a remodel versus a complete teardown," says Barr, noting another house nearby sold for $1.6 million.
"This sells for over $1mil, Im calling it now," reads one comment on Facebook. "Why people are leaving California," reads another. Plenty of others are experiencing sticker shock, but a rep for the Santa Clara County Realtors Association says he's "not surprised at all” by the $800,000 asking price. "Buyers are trading money for time all the time now so they can be closer to their employment," he says. Noting a similar burned-out home in San Francisco's Bernal Heights neighborhood sold last year for $700,000, Fortune reports the average price of a single family home in Santa Clara County is $1.4 million. Interested in what some might call a bargain? You should probably move now. Houses in San Jose are increasing in value by about $200,000 per year, reports Bloomberg. (There's a sad real estate game involving abandoned properties.)
With the extremely high cost of land, the new owner probably would have torn the house down anyway.
I got a 10x20 greenhouse with a rotten cover, that I’ll sell for $50,000
That is probably the lot value — that is expensive in CA.
If I’m not mistaken, it’s easier to get permits for a “remodel”. Leave one upright in place and build the rest of the house around it — that’s a remodel, not new construction.
bids from communist china will raise the sale price to well over a million dollars
Yep. I knew a guy who did that in La Jolla. He bought a house and tore down everything except one wall in one room. It was a remodel.
Not a big deal, really. We sold our old house for about this much and it was a tear-down. And nowhere near Silicon Valley. Not even in the same time zone.
Land is worth money, shocking.
Flowering Onions, Nice!
Yes. In Silicon Valley is apparently worth at least $138 per square foot.
If I’m not mistaken, it’s easier to get permits for a “remodel”. Leave one upright in place and build the rest of the house around it — that’s a remodel, not new construction.
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Yup. You get to “grandfather” the house under more generous rules for setback, square footage, etc if it is a “reno” instead of “new” construction.
“Land is worth money, shocking.”
Touché!
And you can get your tax right-off by allowing homeless to squat in your backyard!
CA here we come!
My family just sold a 3/2/2 in San Jose for $700K. After seeing this, I’m thinking we should have held out for more.
Here it is on Redfin with more pics.
https://www.redfin.com/CA/San-Jose/1375-Bird-Ave-95125/home/839287
Overpriced, junk...
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