Dude, Where's the Car?
It's doubtful that you will find any pictures of this Inverness PoS on any MLS (I had to drive out there myself and take this picture). There's a reason for that. It's a PoS. Really, it is. Why? Well, the realtor write-up describes it as a charming "one bedroom cottage". But folks, it's a garage. That's right, it's a "converted" garage quite probably originally for boats as it is on Tomales Bay (and the San Andreas fault line to be sure). Look closely at the south facing wall (foreground). Those two squares are the original garage doors now permanently sealed shut. The "main entrance" is on the east facing wall...it's a sliding glass door. This house consists of one square room (not counting the small bathroom), zero upgrades, a worn beige carpet, a tar roof, and it's a one hour drive to civilization. Half of the lot that it sits on floods nearly every winter.
So, in Marin County how much does a garage an hour away from anywhere cost you? It will set you back $659,000 (originally listed at $795,000 about six months ago).
posted by Marinite at 11/20/2005 10:35:00 PM
5 Comments:
This is possibly the worst one sofar. Out of curiousity, how much land is included in the price? I seem to recall one out there with a bit of land, but yeah--much is unbuildable.
I spoke with the realtor about this one. She said that the lot is 1.75 acres or so if she recalled correctly. The only buildable portion of the lot is the area where the existing house is located; a large house would need to be elevated if it got too close to the bay.
Also, it's right on the side of the road so anyone who buys this PoS will need to invest in some serious sound-proofing.
Funny blog. I am glad to see that reality is starting to set in around the country and that maybe the emperors new clothes (AKA PoS houses)
will be seen for what they are. BTW I am from NJ and reality is sinking in here in a big way. Another blogger is showing what he calls lowball bids vs. asking price. Alot of them are over 20% below.
http://nnjbubble.blogspot.com/
Btw, I drove by this PoS yesterday, and it looks even worse in person. There also happened to be a lot of storm runoff damage in the general area. What an absolute joke--even the buildable "land" is barely useable.
I live right down the street from this property. It actually has been on the market over a year, went into escrow (when the asking price was $795k), and then dropped out of escrow - for reasons unknown, but that we could conjecture about. I seem to remember that it has about 2 acres of land, but that all but about 0.1 acre are UNDER Tomales Bay. It's less than 1/4 mile from the San Andreas, on liquifaction-prone bay mud, with sea levels rising. We'll see how low it goes before finding a sucker.
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