[Cicero]

It must be a very hot spot indeed. That house looks like it’s worth about 200 grand at the most. More like 150.

Californicates are crazy.

[mlo]

"It must be a very hot spot indeed. That house looks like it’s worth about 200 grand at the most. More like 150."

It's Sunnyvale, the heart of Silicon Valley. Property is nuts there.

[ctdonath2]

“That house looks like it’s worth about 200 grand at the most. More like 150.”

At that price, they’re buying for the land, not the house.

[ctdonath2]

It’s a 13,000 sq ft lot. Given that the area isn’t what you’d spend much time outside for, one could easily raze what’s there and drop a 10,000 sq ft multi-$M mansion in its place, living up to the land value.

It’s just a few miles from San Francisco proper, Big Basin Redwood State Park, Berkeley, a small airport, and the ocean in general. If you’ve got $5M to throw at housing, and that kind of area is your kind of thing (true for many), then heck yeah buy that lot and put a nice house on it.