10 homes you won't believe cost $1 million (or more)
Picture a house costing $1 million. Does it have high-end appliances, upscale finishes, a sparkling pool or a beautifully landscaped patio?
These homes look nothing like that.
In metro areas with hot real estate markets like San Francisco, you can find homes priced well over $1 million that are true fixer-uppers -- or even teardowns.
While homes costing around $1 million may sound expensive for buyers used to prices closer to the U.S. median home value (currently at $186,200, according to real estate website Zillow), many of them present relatively good deals for buyers looking in pricier areas.
"In expensive metro areas, the starting (price) point is going to be higher," said Brendon DeSimone, real estate expert for Zillow. "No matter what market you're in -- high end or low end -- there's a fixer-upper for sale."
If the home happens to be in an in-demand location in one of these high-priced markets, DeSimone said a $1 million fixer-upper can end up with multiple offers above its asking price and may be worth $3 million to $4 million after renovation.
The key for buyers in expensive metros is to find the best deal in the neighborhood where they want or need to live, even if it involves paying for repairs. But the problem, at least in many markets these days, is low inventory. It's getting harder to find properties no one else wants.
Click ahead for 10 homes you won't believe are on the market for $1 million or more.
Redwood City, California: About $1.2 million
This three-bedroom, two-bathroom house is listed for about $1.2 million. It was built in 1939 and last sold at a foreclosure auction in March of this year for about $310,000. It is priced fairly close to the area's median home value of $1,291,800.
Redwood City, California: About $1.2 million
The home is located near several large tech companies, including Facebook and Google. The interior of the home needs work, listing photos show. There are walls, floors and appliances that buyers may want to replace.
Brooklyn, New York: About $1 million
This five-bedroom, three-bathroom, two-family property is for sale for about $1 million. It was built in 1910 and last sold in January for $450,000, less than half the current asking price. It is about twice as expensive as the area's median home value of $492,100.
Brooklyn, New York: About $1 million
The home needs new flooring, according to the listing photos. There are also several holes in the walls.
Palo Alto, California $1.7 million
This three-bedroom, two-bathroom home was built in 1912 and is for sale for $1.7 million. Even though the price may seem high to some buyers, it's still significantly lower than the area's median home value of $2,414,700.
Palo Alto, California: $1.7 million
According to the listing photos, this house needs a coat of exterior paint and some landscaping work.
Los Angeles, California: About $2 million
This seven-bedroom, six-bathroom home in the Hollywood Hills is listed for sale for about $2 million. It was built in 1927 and last sold in June 2002 for about $1,775,000. It's more expensive than the area's median home value of $1,225,000.
Los Angeles, California: About $2 million
The home has several marketable features, like a fireplace, jetted tubs and a metal spiral staircase, but, as the listing states, it is in need of an "experienced investor/contractor to return (it to its) former glory." There is clear damage to some of the exterior walls, and the home needs new flooring and kitchen cabinets.
Brooklyn, New York: $1.9 million
This six-bedroom unit is listed for $1.9 million. It was built in 1901 and last sold in 2005 for $75,000. Its current price is more than twice as expensive as the area's median home value of $712,400.
Brooklyn, New York: $1.9 million
The listing asks buyers to bring their contractors and creativity to renovate the 20-foot-wide home and touts original details like pocket doors, crown molding and claw-foot tubs.
Los Angeles, California: About $1 million
This four-bedroom, four-bathroom home is for sale for about $1 million. It last sold at a foreclosure auction in March of this year for $1,315,809, slightly more than the current price. It's considerably more expensive than the area's median home value of $672,200.
Los Angeles, California: About $1 million
Listing photos indicate that the previous owners began some renovations, but it doesn't look like they got very far.
Alamo, California: About $1 million
This two-bedroom, one-bathroom home is for sale for just over $1 million. It was built in 1941 and last sold in October 2014 for $700,000. It is less expensive than the area's median home value of $1,663,300.
Alamo, California: About $1 million
The listing says the value of this property is in its 1.23-acre lot. There's a two-bedroom cottage, a two-car carport that has been closed in and used as storage, and there's another storage building the listing says is in need of repairs.
St. Pete Beach, Florida: About $1.4 million
This four-bedroom, 3.5-bathroom home is for sale for $1,375,000. It was built in 1951 and last sold in December 1988 for $250,000, less than one-fifth of the current price. It's more than three times as expensive as the area's median home value of $349,500.
St. Pete Beach, Florida: About $1.4 million
This house overlooks the Gulf of Mexico and has a large porch, but the views inside aren't quite as picturesque. For example, the oven doesn't have a door, according to the listing photos. The kitchen cabinets are peeling and falling off their hinges. The paint is also peeling off many of the walls, and some of the floors are missing tiles.
Los Angeles, California: About $1.6 million
This three-bedroom, two-bathroom home is for sale for $1,590,000. It was built in 1932 and last sold in July 2014 for $1,440,000. It is about $500,000 more expensive the area's median home value of $1,073,600.
Los Angeles, California: About $1.6 million
The current owners already have a permit and architectural blueprints to turn the Spanish-style property into a sleek four-bedroom, 3.5-bathroom house, according to the listing. However, the current asking price is "based on land value only" and the home is being sold as-is.
San Francisco, California: About $1.2 million
This two-bedroom, one-bathroom home is for sale for $1,195,000. It was built in 1909 and has belonged to the same family for more than 50 years, according to the listing. It's less expensive than the area's median home value of $1,660,500.
San Francisco, California: About $1.2 million
The house has a hilltop view, but the view inside may not appeal to buyers who don't appreciate floral wallpaper, seafoam green paint and older appliances.