It may be too dangerous to enter, but that doesn’t mean a gutted Seattle home is not going to sell fast. Listed for $330,000, a trash-filled Bothell, Washington, property received 17 offers and sold after just five days on the market.
According to the Seattle Times, 2502 166th Place S.E. is gutted and requires at least $100,000 in repairs. But given the extremely competitive state of Seattle’s housing market — home values spiked after the rise of tech giants like Amazon and Microsoft, and now command nearly $750,000 for an average home in the area — interest was high.
Compass agent Sam Forselius listed the property above asking price and with only one photo. Still, he sold and received 17 offers in five days. The new owner was not able to tour it due to the water damage and unsafe conditions.
“I wouldn’t have anticipated this number of offers on this home at this time of year,” Forselius told the Seattle Times.
The listing was advertised as an “investment opportunity.” The cul-de-sac surrounding the house showcases more attractive homes. An average home in the Bothell area prices at over $600,000 and affordable properties, in particular, are hard to come by.
All over the Pacific Northwest, first-time buyers are competing for low-end properties that will allow them to break into being homeowners.
“A whole lot of potential awaits,” read the listing. “Down to studs remodel needed. Due to extremely poor condition and water damage issues, sold 100 percent as-is including refuse.”
