Tuesday, May 15, 2007

Fixer Caves In

The dreams of a young San Francisco couple to renovate a fixer-upper collapsed last weekend — literally. Bill Zhou and his wife spent $525,000 for an 870-square-foot cottage built in 1910. The house was a bargain in a city where the median price is $755,000. They planned to do the renovation work themselves. But Sunday afternoon the house caved in. No one was injured. Before the crash, the home was the subject of a story in the The San Francisco Examiner, which labeled it as the cheapest house on the market. According to the story, the real estate practitioner who handled the sale had warned potential buyers to "enter at your own risk."

Source: The Associated Press (05/07/07)

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