Silicon Valley Real Estate: the ruins of a house sold for a million dollars

The cost of real estate in Silicon Valley is so high that even millionaires feel like a middle class here, and top managers of venture and technology companies are planning to leave. Writes Ain.uaSeattle Times Mike Rosenberg decided to clarify the situation and showed a house in San Jose, California, which he recently bought for nearly a million dollars.

“This house in Silicon Valley was sold for $ 938 000 this week, in case you are wondering how things are going,” he wrote in Twitter.

The house, or rather what was left of it, was sold on the popular American real estate site Redfin for $ 1 017 712 (automatic site evaluation based on current market prices). Property features on 92 apt. m depress: zero beds, no bathroom. The description also says that the house burned down two years ago. But the location is simply wonderful: the object is located not far from the center of the Willow Glen area, where everything you need for living is shopping centers, easy access to motorways and public transport.

The author of the ad emphasized that the value of his possessions is billed exclusively for the site. That is, if the house had survived, the price would have been much higher. And the buyer obviously found her fair. Given the overheating of the real estate market in California, the price of the plot experts really call competitive.

Photo: Twitter

Photo: Twitter

But this is only within the region. If you compare the prices of similar objects in other US states, the difference in price is enormous. For example, a similar "house", but slightly better preserved and with a bоon the same meter Redfin they are trying to sell (so far without success) for only $ 280 000 - that is, 3,5 times cheaper. And all because the property is located in Seattle (headquarters Amazon and Starbucks located there), Washington, which, however, is also considered not cheap in terms of real estate regions.

For comparison, here is a house in Kansas, which is sold at a similar price (from user comments to Rosenberg's tweet):

The scale of real estate price increase is also curious. Redfin: According to the portal estimates, in 2014, the house on Bird Avenue in San Jose could be bought for only $ 600 000, and in 2013, $ 500 000 would not be given for it. Thus, over the past five years, property prices in the Valley have doubled.

Ранее ForumDaily wrote about blockchain engineer prethi kakireddiwho decided to leave their Silicon Valley.

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