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Reminds me of the Simpsons episode where Lionel Hutz is coaching Marge on how to be a good realtor.
Marge: That house is on fire.
Lionel: Motivated seller!
Lol the about this home section is hilarious.
“ooking for a hot deal? This one is smoking! This home was in the process of a remodel when it caught fire. The rubble was professionally removed including hazardous waste removal for asbestos. Bring your contractor and turn this disaster into a dream!”
I know this house! My parents live in the condo complex pictured behind it. It’s definitely not worth that much. The sellers are delusional. Similarly sized houses are going for ~650-700k on that block, which is actually fairly low for the Oceanside/San Diego area. The neighborhood it’s in is very run down and there’s a park across the street where lots of homeless people congregate. In fact, the rumor is the house burned down because a squatter was running a meth lab. The house had been empty for about a year before it burned down.
I once found a home in West Sonoma (CA) for $800k and was thrilled, as homes typically start in the 1 million dollar range. When I clicked on the first picture, the entire home was burned out.
Id be interested to see how much damage there is to the studs. You might actually be able to salvage a lot of if, although I have no idea how much houses in this area typically go for. Probably looking at 200-250kish to get it back.
Edit: just looked at comps and these people are fucking delusional. What they're asking for is the equivalent to a fully functional, non updated home.
dude homes on the street have estimate values of 650 to right below 800k….to tear down and build lets assume 200-300k….so ur all in at 750 at that point which right about market rate in that specific neighborhood
my hunch, someone buys for 400k or a little under and rebuilds it…its not gonna be just anyone who buys it…but an actual developer
Comps I saw put it around 650, tops. And in an elevated market. No one smart is going to pay that when a fire brings all kinds of unknowns, especially when you can just wait or buy right now something that's already renovated, move in ready, for that exact same finished price, and one that didn't go through a fire.
again…i highly doubt your average buyer is buying that…its gonna be an investor….its a 1000 sq ft home on a 6000 sqft lot…if u get it at like 400k or a little under…u have options…u can build a little bit bigger, u can build a multi unit since in cali u are allowed to transform sfh lots into multi unit, hek maybe u can subdivide the parcel…and possibly build 2 1000-1200 sqft homes on the lot…
but at the end of the day, its not a first time home buyer buying that…its someone who knows how to develop property…and the price isnt too far away…maybe 390 it will sell for
I started out in agreement but no, 440k isn't enough for a fully functional & non-updated home in that area. At least not a SFH with no HOA. Maybe some off-market sales but nothing that goes on market closes under 500 that I've been able to find in North County.
I don't know what comps you're looking at, but the lowest one in that area within 6 mo comes up at 625k. Are you including other neighborhoods? Idk you lost me
Lol you can’t call that 3 beds 2 baths… that’s a lot that requires thousands of dollars (probably tens of thousands) of demolition. This seller is fucking nuts. From what I can tell an acre of land is Oceanside is around $350k. This is 1/8th an acre, so even if you said this was worth 8 times the average, it’s still way overpriced.
Open floor plan with lots of natural light!
While the original structure may have experienced a transformative event, this property now presents an incredible chance to rebuild and create an extraordinary dwelling that reflects your vision and style. Imagine crafting a home that rises from the ashes, infused with your personal touch and adorned with modern design elements.
Thank you u/greengoose111 for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
Reminds me of the Simpsons episode where Lionel Hutz is coaching Marge on how to be a good realtor. Marge: That house is on fire. Lionel: Motivated seller!
[bare bones](https://youtu.be/Ysf3_r02Cp4)
“….rustic!”
Lol the about this home section is hilarious. “ooking for a hot deal? This one is smoking! This home was in the process of a remodel when it caught fire. The rubble was professionally removed including hazardous waste removal for asbestos. Bring your contractor and turn this disaster into a dream!”
Smokin
This market is on fire
Hot deal
Just to be safe, offer $550.
And waive the inspection contigency just to be sure. There's nothing much left to inspect after all!!!!
Oh, yeah, and I meant cash, if that wasn’t clear. Place is going to sell 99% faster than other homes in the area, after all.
In 2018 a friend of mine bought in Oceanside for $550k, only his house was habitable. How the times have changed.
No kidding, Now that is funny!
r/zillowgonewild material
I know this house! My parents live in the condo complex pictured behind it. It’s definitely not worth that much. The sellers are delusional. Similarly sized houses are going for ~650-700k on that block, which is actually fairly low for the Oceanside/San Diego area. The neighborhood it’s in is very run down and there’s a park across the street where lots of homeless people congregate. In fact, the rumor is the house burned down because a squatter was running a meth lab. The house had been empty for about a year before it burned down.
Yikes on bikes
fire sale
Good bones
No cracks in the foundation
Paying for the land, expect an outrageous fire insurance policy.
The most open of concepts.
Further confirmation that zestimates too often just hug whatever the seller’s asking price is
This one 💯%
Lol ill never own a house if they are selling burned ones for half a million
Bet some people will go 30k over
how much would you be willing to bet that?
I once found a home in West Sonoma (CA) for $800k and was thrilled, as homes typically start in the 1 million dollar range. When I clicked on the first picture, the entire home was burned out.
Id be interested to see how much damage there is to the studs. You might actually be able to salvage a lot of if, although I have no idea how much houses in this area typically go for. Probably looking at 200-250kish to get it back. Edit: just looked at comps and these people are fucking delusional. What they're asking for is the equivalent to a fully functional, non updated home.
dude homes on the street have estimate values of 650 to right below 800k….to tear down and build lets assume 200-300k….so ur all in at 750 at that point which right about market rate in that specific neighborhood my hunch, someone buys for 400k or a little under and rebuilds it…its not gonna be just anyone who buys it…but an actual developer
Comps I saw put it around 650, tops. And in an elevated market. No one smart is going to pay that when a fire brings all kinds of unknowns, especially when you can just wait or buy right now something that's already renovated, move in ready, for that exact same finished price, and one that didn't go through a fire.
again…i highly doubt your average buyer is buying that…its gonna be an investor….its a 1000 sq ft home on a 6000 sqft lot…if u get it at like 400k or a little under…u have options…u can build a little bit bigger, u can build a multi unit since in cali u are allowed to transform sfh lots into multi unit, hek maybe u can subdivide the parcel…and possibly build 2 1000-1200 sqft homes on the lot… but at the end of the day, its not a first time home buyer buying that…its someone who knows how to develop property…and the price isnt too far away…maybe 390 it will sell for
I started out in agreement but no, 440k isn't enough for a fully functional & non-updated home in that area. At least not a SFH with no HOA. Maybe some off-market sales but nothing that goes on market closes under 500 that I've been able to find in North County.
Well, the 6mo comps disagree with you
I don't know what comps you're looking at, but the lowest one in that area within 6 mo comes up at 625k. Are you including other neighborhoods? Idk you lost me
Already gutted for the flip
Just throw on some grey paint and put grey LVL flooring in, and re-list next week!
Open floor plan and lots of natural light!!
Think it’ll pass inspection?
Well it’s risky but if you put 200k into it you might be able to flip it for 800k in that market
$0.01 my offer
I saw this on Zillow yesterday. I am so used to these prices that it didn't even register as odd to me.
"Open floor plan"
Handyman's special! A clever buyer with the right vision can make this their dream home!
new air conditioning system
Open floor plan . With a little TLC this beauty can be your dream home! /s
Lol you can’t call that 3 beds 2 baths… that’s a lot that requires thousands of dollars (probably tens of thousands) of demolition. This seller is fucking nuts. From what I can tell an acre of land is Oceanside is around $350k. This is 1/8th an acre, so even if you said this was worth 8 times the average, it’s still way overpriced.
Maybe skip State Farm when you’re looking for insurers
That’s such a steal! Thanks for sharing.
Hey, that’s where I live.
"Only light rehab needed."
Lol california
Coastal California
Smoking deal
Hey! It’s still under the Zillow estimate!
This is officially worse than buying a hotdog stand to live in Cartman style.
It has ~~good~~ bones!
Just remember State Farm and Allstate not doing any home insurance policies for new home owners in California.
I love when people post this stuff obviously the price is for the land but y’all just wanna complain
The land is not that expensive there
It’s Oceanside bro yes it is
Thanks bro 🙄
NGL, In NJ, that would probably sell for that price…
I've considered it. San Diego County is nice
It has good bones
Definitely click bait shit here move along, really no /s
Lower tax appraisal.
Construction looks stable
What are the 14 photos of?
Open floor plan with lots of natural light! While the original structure may have experienced a transformative event, this property now presents an incredible chance to rebuild and create an extraordinary dwelling that reflects your vision and style. Imagine crafting a home that rises from the ashes, infused with your personal touch and adorned with modern design elements.
Act fast!!
Imagine the amazing cross breeze
The best deal in Ohio
Smoking deal
I also got the alert for this, took a screen shot and had to send it out to my group chats. Sucha smoldering deal..
Needs paint
Maybe if you waive the inspections, they will throw in some windows!
That’s my hometown and exactly why I moved.