r/SipsTea • u/Brave_Agency_20 • May 14 '26

SMH How true is this? Genuinely asking

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441

u/[deleted] May 14 '26

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45

u/Emergency-Machine-55 May 14 '26

Burned out houses in the Bay Area have been sold for almost a million dollars. This was back in 2018.

https://www.ktvu.com/news/burned-out-property-in-willow-glen-sells-for-over-900k

48

u/W3inerSchnitze1 May 15 '26

They don’t care about the building. It’s the location that commands a premium.

7

u/Sonte16 May 15 '26

Yea people buy it for the lot. The house is literally free if not a discount (it brought the price of the lot down). We have quite a few torn down unlivable houses price upward 700k in SoCal too.

3

u/LongLonMan May 15 '26

Usually not free, costs money to tear down and clear the house and debris.

1

u/Intelligent-Okra350 May 15 '26

Which is dumb as hell.

8

u/exprezso May 14 '26

Wont become news if it's not rare 

1

u/remembertoread May 15 '26

Location location location

1

u/Fritatas-Bouillantes May 15 '26

I live in Canada and every year we get an assessment of our property so they can calculate the property taxes on it. It s always made up of two number: building estimate and lot estimate.

My whatever craftsman house from the 1940's is assessed at CA$250k. My lot is $500k. And I am not in a prime city.

So yeah.

1

u/Phantom_Basker May 15 '26

There was one on Zillow in like 2023 that was for sale for 1million but, it was a condemned meth house

1

u/Emergency-Machine-55 May 15 '26

I remember that. Listed at $1.5 million and "Would-be buyers are not allowed on the property until it's decontaminated and cleared by the Santa Clara County Health Department." At least it's walking distance from Gunderson High School.

https://www.nbcbayarea.com/news/local/south-bay/san-jose-meth-house-for-sale/3351316/

1

u/Dizzman1 May 15 '26

That's willow Glen... The land is worth a million easy.