Real estate fans shared their shock after viral images showed the $2 million that homebuyers will get in the affluent Palo Alto area.
McNally Real Estate posted the video on Instagramwhich shows viewers around a dilapidated 1950s three-bedroom house located on a quiet cul-de-sac in the wealthy Barron Park neighborhood of Palo Alto.
The California enclave is home to tech moguls like Mark Zuckerberg and Tim Cook and boasts some of the highest real estate prices in the country.
“I understand why people in other places might think, ‘Oh my God, I could buy a mansion for $2 million in my hometown,’ real estate agent Olivia McNally told San Francisco Chronicle.
‘We are in a bubble like that. “We are in this 1 percent of the world doing real estate differently.”
Real estate agent Olivia McNally sparked debate this week when she shared a tour of a dilapidated, dilapidated home that hit the market for $2 million.
In McNally’s viral house tour, she opened the door to a house reminiscent of one from the 1950s.
Ugly green shaggy rugs, which did not fill the entire space, appeared throughout the house, while the walls were covered with wood paneling or antique floral wallpaper.
The real estate agent satirically moved through the house to show empty rooms, including a bathroom with muted yellow wallpaper and antique amenities.
And although the ground floor has potential with a huge open plan kitchen and living room, its current state leaves much to the imagination and lacks any features or utilities.
McNally captioned the video, “what $2 million gets you in Palo Alto, CA,” and the clip has since garnered more than 12 million views and a wave of comments.
One stunned viewer said he would “be embarrassed to even show the list,” while another asked, “Is this a legitimate ad or a parody?”
“That’s what 6 acres and 4,000 square feet of the house where I live gets you,” added another non-Californian.
The house is full of ugly green carpets that do not cover the space.
Although located in the affluent Barron Park neighborhood, the property leaves much to be desired.
The walls are covered with antique wallpaper or floor-to-ceiling wood paneling.
The ‘fixer upper’ includes an open-plan kitchen and living room, but the new owners may want to renovate it.
The real estate agent said that despite its current state, “from an investment standpoint, it’s fantastic for a family that can’t afford a $5 million mortgage.”
While the home leaves a lot to be desired, it certainly shows promise for a wealthy developer looking to turn things around, especially since the average sales price for a single-family home in the region tops $3.4 million.
The property in the affluent Barron Park neighborhood has three bedrooms, one bathroom, a detached two-car garage and enough garden space to turn it into an oasis.
McNally said he wasn’t surprised the video sparked such a strong reaction, but said most Americans don’t understand the cost of living in this affluent area.
“You’re living in $4 million to $5 million homes,” he told the San Francisco Chronicle.
‘The neighborhood is incredibly beautiful, surrounded by walking trails, streams, and parks. There are great schools. Many of the neighbors are people who have lived there for 40 years and never plan to move.
“From an investment standpoint, it’s great for a family that can’t afford a $5 million mortgage… What you want is the ugly duckling in the nice neighborhood.”
The dilapidated house would feature neighbors like Mark Zuckerberg, whose Palo Alto home (pictured) was built for $37 million.
Apple CEO Tim Cook also calls Palo Alto home (pictured) on a modest property
For the run-down $2 million property, McNally said its location in the affluent neighborhood may attract buyers looking to renovate it.
The house has three bedrooms, a bathroom, a detached garage for two cars and enough garden space to turn it into an oasis.
The old house also includes a bathroom with muted yellow wallpaper and vintage amenities.
The same was true for the current owners of the $2 million home, who lived in it for 59 years before putting it on the market.
“This is an emotional sale for my client,” McNally said. “Her father left it to her and she had to make the difficult decision to sell it because she initially wanted to honor her father’s legacy.”
He added that while he received negative reactions for the video, it was worth it as he also saw several applicants who wanted to take on the project.
My job as a real estate agent is to capture as many eyes as possible on any property,” McNally concluded.
‘It doesn’t matter if it’s a $500,000 condo or a $50 million property in Hillsborough. My job is to share a story. My job is to sell the house.