We saw this amazingly-priced tear-down house in West Seattle a little while back. We were confident that it would sell for more than the ~$200K list price, regardless of the condition, since the eventual buyer would tear it down and rebuilt it anyway. What surprised everyone, including the listing agent, was how much the house sold for…$427,000!
As the listing agent for the house alludes to in the article, it’s worrisome when developers pay so much for a property in hopes that they can reap enough profit form the sale of a complete project a year or two down the road. 41 offers, wow.
http://bit.ly/29mpeDE
