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The house at 28 Reynolds Pl. has been listed for $1. And while you probably can't own the home for a simple George Washington, it's created quite a stir on the real estate market.
Brendan DaSilva, who listed the 3-bedroom, 2-bathroom home, said he has seen homes suffer from being overpriced, but never saw a listing suffer from being undervalued.
"The market dictates value, regardless of the listing," DaSilva, who has sold nearly 1,000 homes, 400 in Newark alone, said.
Since the $1 listing went up, DaSilva said he receives a call every seven minutes.
"Someone called me at 1 a.m.," DaSilva, a Newark resident, said. "People say I literally have a dollar. They think it's the [most] brilliant thing ever."
DaSilva said he is accepting bids until Tuesday at noon, with the highest bid winning the house. He said he prefers to sell it to a Newark resident, but will accept the highest offer. DaSilva said he's long thought of listing homes for an absurdly low price as a way to get attention.
"A client literally said, 'we should do this for my house,'" DaSilva said. "I'm going to become the $1 realtor."
The home sits on a dead-end street on the border of South Orange. DaSilva the newly renovated home, complete with a finished basement and private backyard, gives people "everything you could ever want."
"It's a really modern, well-crafted home," DaSilva said. "It's more South Orange than Newark."
DaSilva said Newark gets $3 billion worth of investment every year, and he said he's seen homes go for more than $1 million, as homeowners look to live in the city.
Click here for the complete Zillow listing.
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