Wednesday, April 11, 2018

Thank You Federal Reserve: Burned-Out Silicon Valley Home Hits Market for $800,000


A Silicon Valley home gutted by fire has gone on the market with an asking price of $800,000.

“They did leave it standing so you can remodel it versus tearing it down so you save a lot of money when you can leave a wall up and do a remodel versus a complete tear-down," Realtor Holly Barr told KTVU.

Barr told KTVU she’s already received at least 10 offers and expects to sell the property in the next few days.

-Robert Wenzel  

(via Sacramento Bee)

5 comments:

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    1. I award you no points, and may God have mercy on your soul.

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  2. Sounds like a bargain rather than money printing. Think of it as a land sale. With neighboring homes going for 1.6mil that leaves $800K for demo and building costs. Odds are it wouldn't cost anything close to $800K to build a house like the neighbors' have.

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    1. Yeah, so just never mind that fact that they are selling a 0.13 acre lot for $790K. IMO there isn't a single acre of property in the entire world that is worth $6.0M per acre. This is clearly a case of property values gone wild due the influence of foolish monetary policy.

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    2. Oh the whole condition there has to do with government interventions. My point is this is simply not a special case even worth noting.

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