California

Condemned California house sells for over $1 million — above asking price

A condemned house in Fremont, California, sold for $1.23 million on March 30, 2018.
A condemned house in Fremont, California, sold for $1.23 million on March 30, 2018. RedFin

A house in Fremont, California, recently sold for $1.23 million — more than the asking price — even though it's condemned.

"Home is CONDEMNED, Enter at your own RISK," says the listing on Redfin.com. "Perfect neighborhood to build a New Mission Home on this lot after demolition."

The asking price for the home was $1 million and the seller insisted on cash-only offers, according to the listing.

Redfin agent Sayed Wahezi said in the "Tour Insights" section of the listing, "Good location, but the house has been condemned, no one has lived there in the past 4 years."

Another agent, Glauber Carvalho, added that "This one needs work!" and said there is extensive rain and water damage in the main house, though a guest house in the back is in better condition.

The median home value in Alameda County is $857,800, though home values have risen 11.5 percent in the past year and are expected to keep rising, according to Zillow.

It's not the first time a husk posing as a home has hit the Bay Area market and sold for a high price. Just last week, a San Jose house gutted by fire made news for its $800,000 price tag. At the time, a Realtor said she had already received at least 10 offers on it and expected to sell it soon.

In March, a two-bedroom, one-bath home near an Apple campus in nearby Sunnyvale sold for $2 million – a record $2,358 per square foot, reported KPIX.

And in 2017, a fire-gutted house in San Francisco’s Bernal Heights neighborhood sold for $700,000, according to Fortune.

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