Burned-out Bay Area listings of homes for $ 850,000, and deals are coming

In Walnut Creek this week, a burnt down family home was put on the market for $ 875,000, and buyers are clamoring for the winning bid.

The house at 254 Tamarisk Drive was ravaged by a two-alarm fire on September 11 last year. The roof collapsed and the garage was reportedly completely destroyed by fire. Firefighters determined that the blaze appeared to have started in the garage, although no cause was revealed.

The dilapidated state of the home did not deter buyers, however, which may not come as a surprise in the Bay Area’s ultra-competitive real estate market.

“A bare opportunity to renovate / rebuild / restore. Extensive fire damage stripped this house bare right down to the posts on both floors. This one is ready to go fresh and build to your style preferences.” , we read in the presentation text.

“Opportunities like this are rare to make dramatic changes to a home and floor plan… it’s more than a fix and the potential is only limited by the imagination. “

And just like that, after hitting the market for just 6 days, a sale is “on hold” after multiple offers have poured in.

Key Realty listing agent Melinda Byrne told SFGATE that eight offers have been received, and more are in progress, and expects the sale to close next week at “much above the price. catalog”.

“I’ve been in business for a long time and have sold a lot of fixers so I wasn’t surprised at all,” Byrne added. “The location is great.”

Could that charred shell of a house sell for $ 1 million?