Quote from the article:
“What has this area come to when a family earning good money cannot even afford to buy even a burned-out wreck,” wrote Facebook user “Cally Jayne.” “Greed, pure greed from all concerned right here.”
What is pure greed is expecting to buy a property below market value. I don’t see anything wrong with the seller here. They just expect market value for their property.
A family making good money should definitely be able to afford this burnt out wreck. If they couldn’t afford it, then maybe they weren’t making good money after all 
The issue is no lender is going to give mortgage on it, appraisal fails. Buyer needs full cash to buy, remodel/tear down and make it. Above all, this is in high traffic road, i.e., less desirable from community. Even builders won’t prefer as they can not make big money out of this unless seller provides at a discount.
This can be done by a wealthy (full cash) experienced builders. Once they build it, it will go back to its un-affordable level.
Yup, all cash flip only…
Saw on Facebook someone bought it already.
It is listed now.
https://www.redfin.com/CA/San-Jose/1375-Bird-Ave-95125/home/839287
If someone gets at List price(or even less than LP), it is a good deal now as the price is for the land. Only irking factor is high traffic road.
Geez, every news outlet is reporting on this story…
Gee!
Anybody complaining about traffic is just not living in this area.
This is not new. The first house in RWC that I could afford was a burned out house in Emerald Hills. The price was $100k. Couldn’t get a loan. That lot today would be worth $1.5m
Sure, not the first time a burned down house goes on sale for a perceived “a lot” but again the fascination with the Bay Area housing market from the rest of the US is sweeeet…
Media outlets love sensational news especially when it comes to housing since it’s usually so boring. The bay area delivers it in droves with these type of sales. Didn’t it use to be the taglines of 2M teardowns in Palo Alto?
I don’t know about you or @buyinghouse but I much prefer news stories about our local RE than what is going on in Washington…
But your honor, Washington is where the money policies for your real estate deals anywhere are being worked on! It’s going to benefit, or affect you sooner or later. One inside trader, a mad man saying something stupid, and your stock values go down.
See Zuck? He was drilled in congress and given his “final answer” his brand got a revamp. He earned $3 billion while he was sitting there, even being mocked for a cushion he requested. 
We are just about to blow the entire planet because an idiot is saying stupid things. Haven’t you noticed?
You can’t live in a bubble. 
By the way, the house in questions is a take it or leave it deal.
You don’t like it, go on!
Life is too short lived, lol…to be berating something you won’t or can’t buy.
Those who think positive get good deals.
One of the best deals I ever got was a burned house on a huge lot. The seller came to me to design a new house. His 700 SF shack had burned down. He thought he had $140k in insurance money to build a new house. The lot was worth $200k. I told him he needed at least $300k to build anything. I convinced him to sell me the lot. The $200k I paid went mostly ti the bank. The house I built is worth $3m today.
The rumor was that the seller burned his own house down. Allegedly insurance fraud. But he stood to gain very little.
I am just giving you a hard time…sort of 
I am serious about war. Too much chatter about it on the news. Something is going to happen.
On the other hand, no offense taken. You are the most peaceful guy on this forum. I enjoy having a conversation like last night with you. I hope one day we’ll trust each other to send our #s to have a chat.
Then, cool guys as Hanera, Manch, Wuki, Terri, Elt1, Sheriff follow…
I said it before, you can insult me, say I am a SOB, whatever. I don’t get mad at all, I get to have fun.
But if something I hate is the coward attitude of blocking or pressing the spam button because it hurts what I am saying in response to me being attacked personally. And this is what this forum is turning on. Too many PC comrades in here. They need to grow up.
There may be a reason for them to do it, perhaps my vulgar expressions. But I have said it, don’t blame me! Blame your president. He is teaching me how to behave. Right? 
I spotted this car in SF months ago.
Well, I will look at the positives again and say that at least you are contributing to the survival of this site with posts. Clearly you have shown to have interests other than just gun control, yes??? 
That is why I do what I do every morning here when time allows. Obviously I have a big interest in RE and it honestly is not only from a money making perspective. To me, it is interesting why House A sold for X when clearly House B which is better/bigger sold for X minus 200K for some reason.
This home in DryCreek went into contract within first 6-7 days. This is very unique lot and unique home.
https://www.redfin.com/CA/San-Jose/2155-Dry-Creek-Rd-95124/home/581173
Really nice house there…
