142 Mangels Ave. was purchased last December for $524,250 ($124K above the asking price). Today it fell over while the owner was trying to upgrade the foundation. The house has been red tagged and needs to be completely demolished–is it now worth more or less?
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May 13, 2007 at 2:14 pm
Chuck
According to a recent article in the Chron’s Real estate section it may be worth more. I think that would be the case without question had it sold at asking. As it is, the owner will have a buildable lot upon which to build an appropriately-sized home, with a legal in-law. As an added benefit, it will conform to the latest code and have upgrades that would not be possible in a normal re-model. Sadly, I don’t think it is within the financial reach of the current owners.