This sale of the lot in the Sagamore community could set a precedent in the market for lots in fire-damaged neighborhoods.
“Our job is to review all the properties, so we had people in the field taking pictures and seeing what was left of the properties,” Cynthia Braddock, Boulder County’s assessor said.
The property has on it the charred ruins of what was a house and is currently on the market for $350,000.
“I would hope that their realtor who is going to be marketing that is marketing that wisely, because some of these properties are still very damaged,” Braddock said.
The Problem Solvers reached out to the real estate agent who’s currently selling the home: Shiquan “Aaron” Su.
Su said the sellers are hoping to combine what they would make on the sale with their insurance claim payment.
“The $350,000 price point, plus their insurance payment, they’re about to break even of their previous home value,” Su said.
The county’s assessor said every property has a right to do what they want, even after a disaster and that any lot would be a high-demand product.
“In this part of the county, (there are) very few vacant lots. So, we’ll have to see how people view these lots with the damage on them and what they’re willing to pay for them,” Braddock said.
“Actually it’s pretty popular, I think there’s quite a lot of builder so hungry for the lot,” Su said.
Su said the lot could have its foundation replaced by the next builder and have a much larger home with more stories added to it.
“Actually (if) they rebuild, there will be a $1 million new house. We’re talking about something that’s $1 million,” Su said.
Braddock told FOX31 it could take assessors six months to a year before they have a valuation of the land in these damaged areas.