Buy a partially burnt house for $ 500,000 – NBC Boston

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Boston’s real estate market is hot right now – so hot that a fire-damaged Jamaican Plains home was put up for sale for $ 500,000.

1242 square feet three bedroom, one bathroom building located on a separate lot on Union Avenue, close to Orange Line T stop, Brewery and Franklin Park. List highlights the opportunities available to those who can restore or rebuild a “real rough diamond” into their dream home – not so much in its current, uninhabitable state.

“The asking price seems high for the current price, but it is really low because there is a big gap between what you can potentially sell it for and what we ask for real estate,” said Nate Rock, a real estate broker at the home. …

The building is partially charred, windows and doors are boarded up, and weeds are growing around it. The damage from the fire was mostly to the front of the building, Rock said, and the civil engineer believes that at least some of the property can be salvaged, although utilities are currently not operational.

The Boston Fire Department said the fire that damaged the building occurred on December 26 and caused $ 250,000 according to Boston.comwho first wrote about the house. One person died of his wounds in the fire. Reported by Jamaica Plain News

When millions of Americans started working from home at the onset of the COVID-19 pandemic, many realized that their home was not the right place for them.

The neighbors weren’t very surprised by the property’s price – they saw other buildings in the area selling for staggering amounts as well.

“I think the foundation is still good and so people can build from scratch whatever they like, so it might make sense. But this is crazy, prices are going up, ”said Martha Gardner.

Boston’s real estate market is experiencing a rift, especially since the outbreak of the pandemic.

According to the Greater Boston Association of Realtors, the average price for a single-family home in the Boston area was $ 760,000 in April, up from $ 620,000 two years earlier. This is 23% more.

According to the data, houses are sold on average 19 days – this is the fastest time they have sold out in the last three years.

Another unconventional home in the Jamaican Plain caused a stir when it hit the market earlier this year. open plan bathroom

A home on the market in the Jamaica Plain area of ​​Boston is causing controversy on the internet for its unconventional open-concept bathroom.

Because the Union Avenue building does not have any active utilities and currently has no housing, most regular buyers will not be able to afford it – banks usually do not offer mortgages for such places, according to Rock.

But for people who can raise cash or a private loan, they have until Friday 5pm. And Rock said that he already got a lot of interest, so there might be competition.

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