Breaking

Fire-ravaged hovel in Silicon Valley hits property market with $800,000 price tag

Latest news

    A small house with major fire damage was put up for sale for $800,000 in San Jose, California. It’s become the latest internet joke about Silicon Valley’s property market bubble.

    The realtor behind the sale insists on the asking price, saying that the area and the land itself JUSTIFIES it. The small burned-out dwelling is located on a 5,800 sq ft (0.0005 sq km) lot in San Jose’s Willow Glen neighborhood.

    “If you are in the market, you know real estate, you know that this is what it’s worth and the buyers set the price,” realtor Holly Barr told KTVU-TV.

    She stressed that the high price mirrors the value of the property, not necessarily the burnt-down structure. “The Bird Avenue address in San Jose’s Willow Glen neighborhood sits close to a proposed transit-oriented Google ‘village’ of offices, research sites and retail stores,” Barr said.

    The agent’s Facebook post describes the dump and the lot it sits on as a “Great opportunity to build your dream home!” Barr said that she has received 10 offers since the advert was posted and expected a contract on the property within days.

    The southern region of the San Francisco Bay Area of California can be fairly called one of the most expensive places in the United States to live. The median home value in San Jose is $1,078,300, according to online real estate database company Zillow. That’s up nearly 24 percent over the past year, and the figure is predicted to rise 8.4 percent this year.

    View the original article: https://www.rt.com/business/424143-dump-silicon-valley-millions-dollars/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

    For more stories on economy & finance visit RT’s business section

    In the same category are

    Caravaggio’s ‘assassin’ finally revealed four centuries after his mysterious death at 38 Four centuries after Caravaggio mysteriously died at the age of 38, scientists claim they have determined what killed the famous Italian painter. Over...
    22% of people in the US & half living in its largest cities don’t speak English at home More than 66 million people in the US speak a ‘foreign’ language at home, the Center For Immigration Studies has discovered, and almost half of the re...
    Thousands of spiders descend on Greek town & cover it with 300-meter-long web (PHOTOS, VIDEO) Published time: 20 Sep, 2018 04:44Edited time: 20 Sep, 2018 07:45 Those suffering from Arachnophobia or who are just not fond of the eight-legged crea...
    Regional vote results in Russia’s Far East annulled over violations Russia’s election commission has nixed the results of a regional election in the country’s Far East over violations. The date for a new vote is being ...
    Plane passengers suffer nose & ear bleeding as crew ‘forgot’ to maintain cabin pressure A packed Indian Boeing 737 passenger plane had to abort its climb, turn around and return home after over two dozen people on board suffered nose and ...
    Alibaba’s Ma says Trump’s trade war ‘destroyed’ his promise to create jobs for 1mn Americans Alibaba’s executive chairman Jack Ma has said that his promise to Donald Trump to create one million jobs in the US is no longer valid and viable afte...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.