As I stated before here, NSR, yes, I do believe it is a “game changer” for a longtime owner to be able to now fetch $1.2-1.8M+ for a (now dated and rundown?) home they paid $30-$70K for between 1955 and 1970. Of course, it is better to have that cash in hand before you die than fooling around trying to collect rents from marginal tenants (who would be all that would apply to rent it in its current shape). A costly rehab probably even looks daunting to “heirs” (of Saratoga properties and similar around the state) when the cracked and broken concrete alone (front, side and back) could cost $65K+ to replace all by itself. That doesn’t include the cost of replacing the massive wood roof and tearing out 1/2 AC of unkempt landscaping and replacing with drought resistant plants and drip irrigation.
And we haven’t even stepped inside the house yet to see what else it needs :=0
