Decrepit Zero-Bedroom Home Sells for 'Head-Scratcher' Price

Robert59

Robert59

Well-known Member
Location
Now I live in Tennesee. Did live in Michigan.
Someone decided this rundown San Francisco residence was worth $2M

If paying a $6,600-a-month mortgage on a rundown home that doesn't have a single bedroom seems steep to you, at least one person doesn't agree. Per Insider, someone has scooped up such a property in San Francisco's Noe Valley neighborhood, paying $1.97 million for the boarded-up abode described in its Compass listing as a "contractors special." The house is said to be a "fantastic opportunity" for someone who wants to take a chance on it and can pay cash—likely required "due to its extreme deferred state," per the listing.

https://www.newser.com/story/315808/home-with-no-bedrooms-sells-for-2m-in-san-francisco.html
 

DAMN! Houses in the ghetto look better than that! And it really doesn't look like it's in a million dollar neighborhood, based on the house next door. But with California prices, who knows. People are paying ridiculous amounts of money to live there.
 

If that "dump" is an example of what SF houses are selling for, it's no wonder that there is an increasing migration of people/companies leaving that city, and even the State.
 
I can only guess it is due to what realtors say... location, location, location.
 

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