By Mike Hazlip—
With median home prices still above $450,000 in Citrus Heights, the recent sale of a two-bed, one-bath home on an acre of land for $150,000 is unusual.
The home at 7753 Glenn Ave. was built in 1948 and sits on 1.08 acres, located toward the northern border of Citrus Heights. Another home on the same street recently hit the market at $449,900, with similar square footage but half the land.
A visit by Sentinel staff last week found the front gate locked, with no access to the property. A neighbor said he did not know who purchased the home.
Cara Richey, an area real estate broker, said records indicate the home was bank owned and was once permitted at 1,165 square-feet, but just 675 square-feet was listed in the sale in what she called a “heavy fixer” with a cash buyer.
In light of the home’s condition, Richey said the closing price of $150,000 “sound(s) about right” for the land value of the property.
Certified Residential Appraiser Ryan Lundquist told The Sentinel the home sold in December and was a private cash transaction that was not listed in the Multiple Listing Service. The property last sold in 2013 for $145,000, he said.
Photos of the property from when the home sold in 2013 can be viewed on an archived Zillow listing.
Lundquist said private transactions are difficult to compare, as they are known to sometimes sell “way below market value,” and sometimes sell above market value.