Fire-Damaged San Jose Property Listed for $800K

Apr 13, 2018

The San Jose housing market is so hot—pause for a “Match Game”-style response of “How hot is it?”—that a residential property destroyed by a fire two years ago is now on the market for $800,000.

According to a USA Today report, the dilapidated and boarded-up house is on a 5,800-square-foot lot. Zillow reports that the median home value in San Jose is $1,078,300, so getting a home for under a seven-digit figure is something of (pardon the pun) a fire sale.

Holly Barr, the real estate broker for the property, said that she has already received inquiries from 10 prospective buyers. "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," she said.

About the author

Phil Hall

Link copied

Published

Apr 13, 2018

Analysis and Data

Buyers Catch A Break As Inventory Climbs And Competition Fades

Sales rose 3.5% in May as inventory hit a post-2020 high of 1.3 million listings, with sellers cutting prices on a record 26% of homes

Home shoppers got some welcome breathing room in May as home sales ticked up and competition eased, according to Zillow’s latest market report. A combination of slightly lower mortgage rates, a surge in inventory, and record price cuts contributed to the modest rebound in ...

People On The Move

Ed Ainbinder Joins Gradient Mortgage Capital As SVP Of Sales

With a background in small balance commercial and investor residential lending, Ainbinder will lead sales strategy as Gradient accelerates growth

Gradient Mortgage Capital has announced the addition of Ed Ainbinder as Senior Vice President of Sales, reinforcing the company’s commitment to growth in the Small Balance Commercial and Investor Residential lending space. Ainbinder brings with him a proven history of bui...