Why Is This 2 Bedroom 2 Bathroom Jerome House $800,000?
We post a lot about interesting real estate around the Magic Valley. We have galleries of beautiful houses that are currently for sale or have recently been on the market. Most of the time the real estate galleries have a theme: mansions nobody wants to buy, houses with amazing pools, smallest, largest, and most expensive have all been recently posted. But, this listing I found on Facebook in a private group, and later on Zillow, is a little baffling.
The house listed is a 1,400 square foot home with two bedrooms and two bathrooms. The lot size is huge for a family house at over four acres. The estimated value of the property according to Zillow is between $238,000 and $296,000. That seems like a really reasonable price tag for a house and property like that. But the current asking price is way above the estimated value. The listing on Zillow has an asking price of $800,000, and that isn't a typo. So, why is the price so high? Apparently it comes down to two words: water shares.
Expensive Water Shares House
This property comes with five water shares. Some would say that is the same as saying this property comes with five gold mines. Even the property listing reflects the fact that you aren't going to spend that much money for the house. The listing has more pictures of the property and land than the actual house. Plus, if you were looking to spend that for a house, your money would be better spent on one of the six mansions in Twin Falls that nobody seems to want to buy.