Thanks all for the advice. I’ve done a bunch of research on recent sales, what’s currently on the market, and what’s in foreclosure process in the Morgan Hill area. The problem is that I can’t see any economic justification for a $455k house w/3400sf, even on a 10,000sf lot.

Anybody think I’m wrong on this? There are certainly a number of people out there buying them, but from what I can tell it doesn’t make much sense.