A San Jose home with severe fire damage from two years ago is now on the market, listed at $800,000. The realtor handling the sale explains that the land and surrounding area alone justify the asking price.
Zillow's data show that the median home value in San Jose currently sits at $1,078,300. The city's home values rose nearly a 24 percent YOY, and are expected to increase 8.4 percent over the course of 2018. Median house prices in the Bay Area have only gone up over the past 70 months, says CoreLogic, and the listing's realtor Holly Barr points out that buying the damaged property and then renovating it would actually be cheaper than buying a new home in the area, CNBC reports.
The dilapidated and boarded-up house sits on a 5,800 square foot lot in San Francisco's Bay Area, home to some of the country's largest tech firms and start-ups. Realtor Holly Barr ... posted the listing on Facebook page Willow Glen Charm, named after the home's neighborhood. The advertisement drew some angry comments, with one Facebook user writing "This is a joke, right?" and another asking "Who in their right mind would buy this?" Another commenter bet that the house would end up selling for more than a million, while yet another simply wrote, "Why people are leaving California."
