An investor bought the fire-damaged home, planning to build new on the existing foundation, highlighting ongoing demand despite the condition of the property.
The residential real estate market shows no signs of cooling, with buyers willing to bid over asking price even for severely damaged homes, due to limited inventory.
The property was listed at $399,900 and sold for $435,000, illustrating the fierce competition driven by demand for new homes in a constrained market.
With only 21 homes available in the East Rockaway School District, buyers are forced to seek out properties with renovation potential, like the charred remains of this home.
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