Small Home Gazette, Summer 2023
Location, Location, Location
Do current Twin Cities housing prices seem high? If so, this might cheer us all up, or at least remind us to count our blessings.
John Piccone’s St. Paul bungalow, for which he paid about $550,000.
If you attended the Bungalow Club’s house tour this spring (May 21, 2023), you likely remember the starting house. It is a large, two-story bungalow in St. Paul, with a full-width front porch and expansive living and dining rooms. In addition to the size of these rooms, they are outfitted with uncommonly handsome wood trim.
The home’s new owner, John Piccone, recently moved to Minnesota from the West Coast. When I first visited his house, he offhandedly mentioned that he was pleasantly surprised at how much house he got for what he paid—about $550,000. While that price struck me as fair for such a beautiful home, I did not fully comprehend his perspective until he emailed a couple of real estate listings to me. The listings were for California houses priced at about the same price he had paid for his St. Paul bungalow.
The 1912 bungalow, pictured above, was first listed at $549,000. The listing pointed out that it was “in need of TLC,” and also suggested the garage could be “converted into a casita or ADU” (accessory dwelling unit).
The first listing was for a house in Oakland, a sweet little bungalow built in 1912. It has 1,170 square feet of living space, with two bedrooms and one bathroom. But the poor thing is in rough shape, and Piccone said that it is in a high-crime area. The listing calls it a “contractor special” and admits it is “in need of TLC.” Originally listed at $549,000, the price recently dropped to $449,000. At this writing, an offer was pending on it.
The second listing was difficult for me to fathom. Offered at $600,000, the 1920 house is 688 square feet of livable area, but that is only because the attached double-car garage has been converted to living space. And there is just one bedroom.
This house contains 688 square feet of living space, with one bedroom, and is listed at $600,000.
“This one is in San Jose, which is where I lived,” says Piccone. He points out that it is located next to the intersection of two highways and that a cemetery is across the street.
“That there are no interior photos in the listing suggests that the outside is more presentable than the inside,” says Piccone, “which is a frightening thought.”
I do not know about you, but seeing these listings made me want to wrap my arms around my affordable, cozy bungalow and give it a big hug.
