Home-buyers scramble to take burned-out home that now lists for $850, 000

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Throw all the unlikable features, but Bay Area home-buyers will still not back down.

Recently, SFGate carried a report on property in Oakland Hills that despite being torn down, has been listed for  $575,000 on the market.

A burned-out family home seemed to share the same fate as home-buyers are rushing to acquire the property which is already listed at a whopping $875,000 on the market.

Two fire alarms last Sept. 11 have already destroyed the home located at 254 Tamarisk Drive. The fire caused its roof to fall off as its garage was devoured by the flames. According to firefighters, the fire started in the garage. The cause, however, was not disclosed.

But buyers were not put off by the ravaged house. This is not new given the competitiveness in the Bay Area’s real estate market.

“Bare bones opportunity to renovate/rebuild/restore. Extensive damage from a fire has this house stripped to the studs on both floors. This one is ready to start fresh and build to suit your style preferences,” the copy reads. 

“Opportunities like this are rare to make dramatic changes to a home and floor plan … this is more than a fixer and the potential is limited only by imagination.”

This easy, the sale for the home is “pending” after hitting the market for less than a week.

In an interview with SFGate, listing agent Melinda Byrne of Key Realty said that the listing received eight offers as several are still in the process. The sale is expected to conclude next week.

“I’ve been in business a long time and sold a lot of fixers so I wasn’t surprised at all,” she said. “The location is great.”