See more of Willow Glen Charm on Facebook 

 It’s no secret that real estate prices in Silicon Valley are ridiculously high, but a new listing in San Jose is pushing the limits. 
 
 The owners of an abandoned, fire-destroyed home located at 1375 Bird Ave. are asking $800,000 for the house and surrounding 5,800 square foot lot. The home and lot combination are described on the realtor’s Facebook page as a “great opportunity to build your dream home!” 
 
 As you might have guessed, it’s all about location. While this particular “home” isn’t near Apple’s recently opened spaceship campus (where a two-bedroom, one-bath home recently set a Bay Area record for price per square foot), it’s close to the proposed Google Village, an area where the company plans to build new offices, stores, and research facilities. 
 
 Holly Barr, who’s handling the sale, tells KTVU she received inquiries within hours of posting the house and expects it to sell within days—possibly with a bidding war. (She has not yet listed it on MLS, the service real estate agents typically use to list houses.) A nearby home, she says, sold for $1.6 million—though, presumably, that one didn’t have fire damage. The average price of a single family home in Santa Clara County right now, for comparison, is $1.4 million. 
 
 Incredibly, even though the house was consumed by fire more than two years ago, and is uninhabitable as it currently stands, it might be cheaper for whoever buys the house to renovate it, rather than tear it down and start from scratch, say local realtors. 
 
 Incredibly, this isn’t the first burned out home in the area to capture that price. Last year, a house in San Francisco’s Bernal Heights area sold for $700,000. That was $100,000 short of its asking price, though Redfin estimates that shell of a home, if it were on the market today, would be worth $868,464. 

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 Typical U.S. homeowners are gaining more than $50 of equity in their homes during every eight-hour workday, according to an analysis from Zillow. Price gains in some parts of the country have been significantly higher. In booming tech cities San Jose, San Francisco and Seattle, appreciation of the typical home added the equivalent in wealth of a six-figure annual salary. 
 
 Zillow senior economist Aaron Terrazas said, "For homeowners that have already or are very close to paying off a mortgage, this supplemental ‘income’ – especially if allowed to accumulate over several years – can essentially serve as a kind of second job that pays directly to a homeowner’s bottom line, without nearly as much actual work involved in collecting it." 

 See more of Willow Glen Charm on Facebook 

 - A burned out home, and the property it sits on, in San Jose’s Willow Glen neighborhood is selling for $800,000. The Realtor said the asking price is reasonable given the housing market and its location. 
 
 But regular people find the price out of sight. 
 
 “Growing up here, I think it's crazy,” said Julie McCarthy of San Jose. “It was orchards here when I grew up not Silicon Valley.” 
 
 Realtor Holly Barr, however, said she's selling the 5,800-square-foot lot -- not the house. 
 
 “They did leave it standing so you can remodel it versus tearing it down so you save a lot of money when you can leave a wall up and do a remodel versus a complete teardown,” said Barr. 
 
 Barr posted the home on the Willow Glen Charm Facebook page. Many people aired their frustration with the housing market. 
 
 “If you are in the market you know real estate you know that this is what it's worth and the buyers set the price,” said Barr. 
 
 “I’m not surprised at all,” said Rick Smith of Santa Clara County Realtors Association. “I ran some numbers in that area. There have been many sales within a quarter mile just in the last month or three that have been a million five, a million six.” 
 
 Smith said buying the burned out home for its asking price and rebuilding is a lot cheaper than buying a brand new house in Willow Glen. 
 
 He also said nowadays, one of the main selling points for a property in Silicon Valley is its proximity to high-tech employment. The home is close to San Jose’s Diridon station near the proposed Google Village. 
 
 “Buyers are trading money for time all the time now so they can be closer to their employment,” said Smith. 
 
 The latest numbers in Santa Clara County show the median price for a single family home is $1,400,000. It comes at a time when 876 single family homes are up for sale, which is 22 percent less than last year. 
 
 The Realtor said in less than 24 hours since posting it on Facebook, 10 potential buyers have contacted her. She anticipates it will sell in a few days. 
 
 
 

– It's certainly not the prettiest house on the block. But a burned-out home on a 5,800-square-foot lot in Silicon Valley could be yours if you have $800,000 to spare and act fast. "This is what it's worth," realtor Holly Barr tells KTVU of the San Jose home, which Fortune reports was destroyed by fire more than two years ago. She expects it to sell in a few days, noting 10 potential buyers reached out in the hours after photos of the home were posted to Facebook Tuesday. Despite its appearance—with a gaping hole in the roof, no siding, and a leaning fence—the abandoned house in the Willow Glen neighborhood has a few things going for it: It's close to the proposed Google Village, where new offices are likely to be built. And "you save a lot of money when you … do a remodel versus a complete teardown," says Barr, noting another house nearby sold for $1.6 million. "This sells for over $1mil, Im calling it now," reads one comment on Facebook. "Why people are leaving California," reads another. Plenty of others are experiencing sticker shock, but a rep for the Santa Clara County Realtors Association says he's "not surprised at all” by the $800,000 asking price. "Buyers are trading money for time all the time now so they can be closer to their employment," he says. Noting a similar burned-out home in San Francisco's Bernal Heights neighborhood sold last year for $700,000, Fortune reports the average price of a single family home in Santa Clara County is $1.4 million. Interested in what some might call a bargain? You should probably move now. Houses in San Jose are increasing in value by about $200,000 per year, reports Bloomberg. (There's a sad real estate game involving abandoned properties.)