$1.6 million for a house with no kitchen? Only in the Bay Area

A Silicon Valley residence up for sale for a great $1.6 million has a built-in fire pit, a two-car garage and also lots of various other facilities, however it’s missing one crucial feature– a kitchen area.

The four-bedroom, four-bathroom home in San Carlos endured an unintentional food preparation fire regarding a year ago, as well as currently all that remains of the kitchen area is a smudged covering. The damages has actually rendered the residence uninhabitable, yet that major problem isn’t stopping the owners from looking for a high rate– a testimony to the intense warm of the Bay Area’s housing market.

“It’s a significant fixer-upper is just how I’m advertising it,” stated Re/Max Star Feature representative Debbie Lamica.

The house provides the ideal possibility for a buyer to remake the fire-damaged room right into his/her dream kitchen area, she claimed. And it wouldn’t be the first time a drastically damaged home costs big bucks in the Bay Area. In April, a home that had been totally gutted by fire sold for even more than$900,000 in San Jose. A condemned home cost $1.2 million in Fremont the month previously.

In San Carlos, four-bedroom homes were costing a median price of $2.3 million in November, according to Zillow.

San Carlos property representative Susan Lewandowski claimed the Alameda de las Pulgas residence appears to be priced right, regardless of its problem. She hasn’t seen the house in individual, however noted it’s huge for the location as well as was integrated in 2010 so it likely has up-to-date electrical circuitry and also plumbing.

“Other recent sales of homes of that dimension were north of $2 million,” she wrote in an email. “The busy street it is on is a variable, yet I still seem like the rate is compelling.”

Still, Lamica admits the $1.6 million cost might be a bit positive. In the 3 weeks the home has gotten on the marketplace, she’s gotten a number of emails expressing passion in the home, and even a few offers. However many possible buyers are intending to pay between $1.3 million and $1.5 million. If the owners won’t agree to lower the price, they may wind up taking it off the marketplace, gathering insurance cash to deal with the cooking area, and afterwards putting it up for sale once again in the springtime or summertime, Lamica said.

The Bay Area’s property market appears to be cooling somewhat, at the very least momentarily, Lamica and several other regional property agents say. Homes aren’t offering rather as quickly, or for as much cash, as they did several months back.

“I think it’s mosting likely to come to be a more balanced market,” Lamica claimed.

Still, the two-story, 2,350 square-foot house would certainly supply wonderful worth for its price, Lamica stated.

The bedroom has a fire place. And the cooking area might not have any type of working home appliances, or, you recognize, a ceiling, but it does have moving glass doors that result in a deck ignoring the yard.

“I have actually had whole lots and lots of interest,” Lamica said. “It’s a gorgeous home.”

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