Killer Housing Market Brings Frightening Disclosures

Bargain basement Redwood City home comes with a unique history

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    NEWSLETTERS

    Hudson & Marhsall
    This Redwood City home is selling for under market value because of a dark past.

    The Bay Area real estate market has been filled with drama the past few years. And while many bargain shoppers have had to deal with issues when purchasing a home at under market value, none most likely had to deal with the extraordinary catch that comes with one potentially amazing deal.

    A "charming bungalow" in Redwood City is being auctioned for only $167,500 but the house has a bit of a past.

    The 3-bedroom, 1-bath house had an initial asking price of $337,000 and now it has gone into auction and has not been able to attract more than $167, 500.

    Our friends at SF Gate tell the sad story of 512 Stanford Avenue: the house that just wanted to be loved and struggled to find a new owner. It's not the home's fault it was host to a violent triple homicide last year.

    The owner of the home was found dead on his driveway, while two other men were found inside. Police at the time told CBS 5 that the shooting was either a home invasion gone bad or a drug or gang related crime.

    The house was re-listed in March 2009 for $285,000 but has gone to auction because it did not draw enough interest. Neighbors describe the street as normally quiet, if that is any solace. Buyers are required to sign an agent disclosure before purchase stating they knew about the homicides at the property before purchase.

    If someone shopping for a home is able to put the creepiness of a triple homicide aside, they may get an interesting deal.