2:45 PM PDT, June 23, 2021
The real estate market is hotter than ever, with prices up at least 20% in many places — if you can find a house to bid on. The median price for a home hit a record $350,000 and houses are selling in an average of just 17 days.
With the inventory of houses at historic lows, buyers are snapping up just about anything, even if the house is a wreck. One graffiti-filled home in Colorado Springs was left in a serious state of disarray by a previous tenant.
“There’s about $150,000-$200,000 worth of damage. I wanted to be as honest as possible. I described it as a ‘little slice of hell,’” real estate agent Mimi Foster said.
Remarkably, the house still sold, even though the homeowner didn’t bother to spruce it up — it was take it or leave it.
Foster said they received about 25 written offers. “Never in my wildest imagination could I have known what was going to happen.”
Lindsay Samelson bought the home.
“It’s a risk I am willing to take, because I know the market enough,” Samelson said. “She is still getting back-up offers from people and they are all going crazy for this house.”
Even houses with notorious histories are selling, including the 100-year-old, Mediterranean-style home in Los Angeles where the Charles Manson family murdered Leno and Rosemary LaBianca in 1969, the night after they slaughtered pregnant actress Sharon Tate and four others.
But in today’s market, it was snapped up for more than the asking price of $1.8 million.