- In San Diego, an uninhabitable home is currently selling for $500,000.
- This property illustrates the challenges faced by prospective home buyers across the country.
- A 1,015-square-foot uninhabitable home costs more than $500 per square foot, according to Zillow.
San Diego homebuyers are looking for financial gain, so they’re now getting $500,000 homes that are selling for hundreds of thousands of dollars less than most other properties in the area. maybe you can.
But the lucky buyer will never be able to enter the house.
Uninhabitable 2-bedroom, 1-bathroom home goes up for sale for $500,000 In the city’s Bay Park district, An incredibly competitive housing market faced by prospective buyers across the countryespecially in San Diego.
The county gave the home a red tag because it was damaged in the fire, according to the county. That means anyone looking to splurge on a $500,000 property will have to flatten out the current building and start fresh with a rebuild. KNSD-7. Pictures of Jiro Parts of the property show dilapidated and worn interiors and dilapidated backyards.
With its sunny weather, beach proximity, and thriving job market, San Diego is a homebuyer’s theoretical dream.
But real estate agents Redfin classifies San Diego’s housing market as highly competitivehomes in this area typically receive 5 offers and sell within an average of 15 days.
According to one study, the median home price in San Diego, California’s second-largest city, was more than $900,000 in April. Greater San Diego Association of Realtors report.
With more than 3 million people living in the area, the available housing inventory remains low. According to US News & World Report. According to the website, home prices in the area skyrocketed from mid-2020 to mid-2022, and listings are still above historic levels.
“Housing in this area is worth about $900. Up to $1 million,” Quan Hein, a two-year renter in the Bay Area, told KNSD.
Zillow says an uninhabitable home can cost upwards of $500 per square foot, although it’s a relative bargain compared to the steep price tag of 1,015 square feet.
Huynh told local media that he would like to own a house one day, but this house is not.
“No, I’m not thinking of buying this house,” Huynh said. “For $1 million, at least see the view.”
The real estate agent told the outlet that the seller is only accepting cash for the home for sale, and that the high price excludes first-time buyers and other general home seekers.