There are houses that need fixing, and there’s this million-dollar California slum whose stock price has set the internet on fire.
A dilapidated shack in the middle of nowhere in California has hit the market for a whopping $1 million, but don’t worry, it’s got a bit of charm (and five acres of land).
The East Underwood Road ‘cottage’ consists of an old brick costume shop, as well as what appears to be a dilapidated one-story house and a burnt-out wooden structure.
‘This is your chance to renovate a farmhouse or build on nearly 5 acres. Built in 1924, this home offers character, but you can choose to build your own or subdivide this lot,” the listing read.
It comes with exciting views, including the ‘town limit’ line across the street and a large open field full of dead grass and distant views of the mountains.
A dilapidated shack in the middle of nowhere California has hit the market for a whopping $1 million, but don’t worry, it’s got a bit of charm (and five acres of land).
‘This is your chance to renovate a farmhouse or build on nearly 5 acres. Built in 1924, this home offers character, but you can choose to build your own or subdivide this lot,” the listing read.
Schools are ‘conveniently’ located nearby and the surrounding areas are abuzz with development, making the space perfect for those looking to build their own ‘rural paradise’ in Holtville.
The shocking listing has set the internet ablaze as many were quick to criticize the shabby property.
Bloomberg reporter Steven Dennis, who also runs Friday Night Zillow on his Twitter account, posted the list, writing: “California real estate prices: This is ONE MILLION DOLLARS.”
One simply wrote: ‘California dreaming’.
It comes with exciting views, including the ‘town limit’ line across the street and a large open field (pictured) full of dead grass and distant views of the mountains.
The East Underwood Road ‘cottage’ consists of an old brick costume shop, as well as what appears to be a dilapidated single-story house and a burnt-out wooden structure (pictured)
A Twitter user named Lucinda wrote: ‘Well even this SF Bay Area native has a head scratch from the list. Holtville, dad. 6600, is as far south as you can go without being Mexico. And the only cultural event there, according to Wikipedia, is the annual ten-day (??) CARROT festival!
Another asked: ‘So… is there a tunnel somewhere that goes to Mexico?’
While another was simply flabbergasted: ‘Please explain. I know real estate in Cali is crazy, but…’
Another user speculated that the listing was aimed at developers rather than the average homebuyer, writing, “Since it’s almost five acres, I think they’re really selling the ability to be a subdivision.” A developer would buy this. I don’t know why they’re not being honest with that.
Many Twitter users were surprised by the high price of the listing, with one noting that the most exciting thing to happen in Holtville is the annual carrot festival.
‘What am I missing? There are actual houses nearby for sale for 300k,” wrote one user.
At the other end of the luxury market, some real estate agents and sellers are offering luxury cars to entice buyers to close before April 1.
Homebuyers who are interested in purchasing a $16.5 million home on Mulholland Drive in Beverly Hills by April 1 will receive a 2023 Aston Martin Vantage, Aston Martin DBX 707, McLaren GT, or Bentley Bentayga EWB if they can close the escrow by the end of the month.
The limited-time offer is designed to circumvent the upcoming “mansion tax,” officially known as the ULA Measure, which goes into effect April 1 and immediately begins taxing luxury home sales.
At the other end of the high-end market, some real estate agents and sellers are offering luxury cars to entice buyers to close before April 1. Homebuyers who are interested in purchasing a $16.5 million home on Mulholland Drive in Beverly Hills by April 1 will receive a 2023 estate Aston Martin Vantage, Aston Martin DBX 707, McLaren GT, or a Bentley Bentayga EWB if they can close the escrow at the end of the month
Any home sold for more than $5 million will be subject to a four percent sales tax, while anything over $10 million will be taxed at 5.5 percent to help finance the construction of affordable housing for homeless people in the city.
Agents like Tatiana Derovanessian and sellers have been trying to find ways to dodge the tax, from dividing up properties to selling less than $5 million to offering a luxury car to sweeten the deal.
“We wanted to come up with a marketing strategy that would make sense with the house, which has this amazing 1,300-square-foot underground car gallery. So the buyer can choose one of these cars to put in the gallery,” Derovanessian told the Los Angeles Times of the Mulholland Drive mansion.
‘You get a house and a car. It’s a double whammy.