Eight hundred thousand dollars is certainly not an unheard of price in the world of residential real estate, as prices shoot up in hot markets such as New York, the District of Columbia, and the San Francisco Bay area.
But what that amount buys in San Jose, a main node of Silicon Valley and its soaring estate prices, drew a second look: a debilitated, burned shell of a home on a small overgrown lot of the type your parents might have warned you to stay away from.
The median home value in San Jose is $1,078,300. That's up 23.9% over the past year, and is predicted to rise 8.4% over 2018. The fact that severe fire damage only bumped that average down to $800,000 says a lot about the area's market, where available housing is sparse and residents prioritize proximity to their employment.
PS: I just checked about an hour ago, so by the time you read this article know that the house is already under contract. I guess Metro Denver and Centennial prices are not that high after all :(
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