A sorry-looking shack, with deep cracks in the cinder-block walls and busted windows, that looks like it's ready to collapse: You wouldn't pay a dime for that, would you? OK, say it's nestled in the gorgeous hilltops of the San Francisco Peninsula with no shortage of pristine mountain views. Now how much would you pay? More than $1 million? Well, that's how much it's going for.
Even rundown, shabby homes in the San Francisco Bay Area are fetching prices that top-notch single-family homes do. The reason is simple: those gorgeous mountain views. It seems that a great view can get homebuyers to pay top dollar -- even if the home itself is nothing to look at. The aforementioned shack? It's going for $1.275 million. Another home in San Jose, Calif., has a bathroom that hasn't had any work done to it since the 1930s, a kitchen that's falling apart and a shabby exterior. The listing agent even admits that he's "looking for someone to come in, remodel, probably flip this house." Well, hope the flip nets a big profit because to buy this house as it is, you'll need $585,000. See the video above to learn why such decrepit homes are going for such high prices.
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