How crazy is the real estate market in San Francisco, California? How about this: A hazardous and unlivable house that should've been condemned has just been sold for $1,970,000. The house was originally listed for $995,000, but it ended up fetching a lot more at the auction.
The property was considered hazardous, because it could have easily fallen in on itself if there was an earthquake. Some of the house's foundations were physically removed, making it structurally unsound. Todd and Kim Wiley, who specialized in trust and probate sales, expected the home to be bought for around $1.6 million. The property was even dubbed "the worst house on the best block" by the listing.
The house should've been condemned, according to Todd Wiley. Anything that existed downstairs has been completely ripped out by the conservatee of the property. He also indicated that the individual who won the auction was a developer who would most certainly resell the home, whether it was to be flipped or entirely reconstructed.
Photos by: Todd Wiley/Compass