Bay Area House Near Landslide Isn't For 'Faint of Heart,' But People Still Want To Buy It

Mt. Diablo in Walnut Creek, California on December 3, 2016. The Redfin ad for the Lafayette home on the edge of the cliff stated that when the repairs were done on the house, there would be a good view of Mt. Diablo. Smith Collection/Gado/Getty Images

A Lafayette, California house located on the edge of a landslide is selling for $850,000, despite its status as a red-tagged home, reported Fox-affiliate KTVU Monday.

The house was red-tagged in June 2017 because it is located on the edge of a hill that was washed away in February 2017. Houses on Chapel Drive are typically priced at about $1.5 million.

Read: PHOTOS: Massive Landslide In China Buries 100 People, 500 Rescuers Deployed Amid Heavy Rains

"There's only so much real estate on the planet, and there's only so much real estate in the Lafayette school district," Valerie Crowell, a real estate broker of Keller Williams Realty, told CBS-affiliate KPIX Monday.

Bay Area #realestate bargain? Red-tagged Lafayette house on landslide asks $850,000. No shortage of interest. NightBeatTV at 10p, @CBSSF 11p pic.twitter.com/Hk7RhsQWSs
— S Chin (@SChinKPIX) July 11, 2017

The ad placed on Redfin says:

"Grand home on a quiet cul-de-sac has met misfortune. This is not for the faint of heart. Landslide at the rear of the home, house is currently red tagged. Geotechnical report available. Do the hard work and benefit from a incredible view of Mt. Diablo. Home is priced to reflect the cost of repairs. Will you be the one to restore this majestic home to its prior glory?"

The former owners of the house moved out after February rains washed away the hill where the house was located. According to Crowell, they lived there since 1968 and were in their 90s. She also said the four-bedroom, three-bathroom house was in good condition.

Read: Sri Lanka Floods, Landslides Claim Over 160 Lives, Rescue Underway Before Rain Resumes

"I'm actually surprised by the interest I've gotten on this house. I've getting four to five calls a day on it," Crowell said.

She said she informs potential buyers of the repairs the house requires on its foundation to make it livable.

The house was put on the market on July 7, 2017. As of Monday, Crowell received 10 inquiries about the property. However, she recognized that while the house is a deal in the Bay Area, if a realtor anywhere else in the country priced a home sitting on a landslide at $850,000, they would be "nuts."

A Redfin report published Thursday said that the Bay Area leads the nation in "over asking" sales.

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