Burned-out home in California still sells for one million dollars

A burned-out California home that was damaged in a blaze has still sold for $1 million.

The charred portions of the four-bedroom property in Walnut Creek, California, certainly did not put off buyers as it was initially listed for $850,000.

After being on the market for only three days, the home, which is 90 minutes from San Francisco, had received eight offers, according to real estate agent Melinda Byrne.

“While I wasn’t really surprised by the price, I was very pleased for my client and for the new buyer: this was an excellent investment purchase. I’m looking forward to seeing the transformation of this home,” she told The Independent.

The average price of homes in the city is $1.1m, according to real estate data.

“Bring your contractor, architect, and designer: this is more than a fixer and the potential is limited only by imagination,” the listing for the home stated.

Ms Byrne said that she fully expected the home, being sold in a cash-only deal, to go for above its asking price as it was in a “gorgeous neighborhood”.

“The high school is one of the best in the area. It’s also very close to Mount Diablo State Park, so it’s surrounded by beautiful hiking trails, horses, walking trails galore and you’re really close to shopping,” she said.

“So, where this home is located is in a prime area.”

And she added that the home probably appealed as a fixer-upper as it comes with no hidden surprises.

“That makes it easier to do remodeling,” she said.

“You don’t have the guess work on what’s behind the walls and there is no need to break into walls to reconfigure the floorplan.”

The home was damaged in a September 2020 fire which is thought to have started in the garage area.

The median price for a single-family home in California hit $811,170 in July, having crossed the $800,000 mark for the first time in April.

Nationally the median price of a home in July was $385,000.