A fixer-upper home that is only 1,050 square feet in size is being sold for nearly $1 million in Texas.
The small shotgun house has become the talk of the town. It was remodeled by Chip and Joanna Gaines for an episode of “Fixer Upper,” and has entered the market at a whopping $950,000, the Waco Tribune-Herald reported.
The home is appraised for tax purposes at $132,010, according to the McLennan County Appraisal District. The asking price has local realtors shaking their heads in disbelief.
“That’s probably a typo,” Keller Williams Realty sales specialist Julie Pendergraph told the Waco Tribune-Herald.
When told the numbers were in fact correct, Pendergraph was shocked.
“You’re kidding. There is no way on God’s green earth they are going to get that kind of money," she said. "That’s $905 a square foot. It’s a nice house, with one bedroom and one bath, and it’s over there by Magnolia Market, but still.”
Kelly Realtors residential specialist Trammell Kelly said houses in the Greater Waco area usually range in price from just below $100 per square foot to $200 per square foot.
“I saw it on Facebook. I’ve not actually driven by the place, but I’m heading there now,” Kelly said. “I’ve had two or three conversations with people who mainly are texting and sending me pictures and asking, ‘What’s the deal with this?’ I really don’t know what to say. I’m stumped for a comment. It’s like I’m speechless.”
Kelley said that if the home does sell for anything close to that figure, it could mean big changes for the local market.
“I’m not going to be critical of what they’re doing by any means. People like the efficiency and minimalist aspect of some properties, and they do have their place,” Kelly said. “But I’ve never, ever seen one with that kind of price tag on it, like it’s on a beach in California. But if someone pays that, more power to them. It will be a game-changer for the local market.”
Jennifer Roberts of Briggs Freeman Sotheby’s International Realty said the home, which is owned by Cameron and Jessica Bell, has enhanced value because the couple makes it available to the public as a bed-and-breakfast location.
“It’s a ‘Fixer Upper’ home within walking distance of the Silos, within walking distance of Baylor University and not far from the river and riverwalk project there,” Roberts explained. “The Bells don’t live there, have never lived there and view it as investment property.”
Roberts said the Bells charge about $325 a night to stay at the fixer-upper. She said there are "$40,000 worth of bookings on the calendar now, and it stays about 90 percent booked."
Roberts said she has about a dozen inquiries on the home at the moment.
The Bells have been together since high school, and were married in 2012, the Daily Mail reported. They both work at a cardiac drug company in Dallas.