February 12, 2006

Reality Check Post: $499k house in Portland (4/2.5)

I think it’s time to do a property that’s outside of the Bay Area. What can you get for $500k in… Portland?

REALTOR.com: Find a Home – Listing Detail
Portland, OR 97202
MLS ID#: 6002724
$499,500
4 Bed, 2.5 Bath
2,106 Sq. Ft.
Estimated payment:
$2,332 Per Month*

6002724.jpg

That’s just crazy – way too much house for the money!

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Comments (5) -- Posted by: burbed @ 6:58 pm






February 11, 2006

$469,000 for a shoebox/victorian home in San Francisco

Home Detail – ZipRealty Real Estate
1107gilman.jpg

1107 GILMAN AVE, Bayview Heights, CA 94124**

List Price: $469,000
ZipRealty will give you up to $2,814 cash back.*

This was submitted by a Burbed.com reader – Thanks Sebastian! Sebastian also notes:

This is one of my favorites:
A must see home! Well maintained victorian home in bayview height area. Close to transportation, freeways and the new 3rd street light rail. 2bd/1ba, lot size 2495 sq ft built in 1912. It is now rented to section 8 tenants at $1925 per month.Subject to tenants right. Property to be sold as is condition. Super chance for investment and for lst time home buyers.

Well on the upside, the smaller the house, the less the vacuuming you’ll have to do. And less to defend! After all, this is the part of the city that generated this headline:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/03/08/BAG5DBLSOD1.DTL

[Mayor] Newsom wants to use fire trucks to help battle crime
He would plant firefighters in their rigs on street corners

Comments (8) -- Posted by: burbed @ 5:47 pm

$540,000 for a 888 sqft 2/1 house in San Jose on Almaden

MLSlistings Property Detail for MLS number 571696
890 S ALMADEN AV
San Jose, CA 95110
(Central San Jose)

$539,900

890almaden.jpg

Well at least it’s in San Jose. And less than $600k…

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Comments (5) -- Posted by: burbed @ 1:11 am

February 9, 2006

$400k for a 1br, 1ba 480 sqft house in east palo alto

Cashin Company Realtors
2164 POPLAR AV
EAST PALO ALTO, CA 94303

$399,000

1 Bedrooms, 1 Bath(s)
480 Estimated Sq. Ft.

Listing #: 602056

2164poplar.jpg

Well, at least it’s under $400,000…

Comments (4) -- Posted by: burbed @ 10:47 pm

February 5, 2006

$649,000 for a 3/2 1100 sqft in Mountain View

MLSlistings Property Detail for MLS number 604329
280 COLLEGE ST
Mountain View, CA 94040
(Mountain View)
View More Photos

$649,000280CollegeSt.jpg
Pending: Continue to Show

Doesn’t it look like the garage is 50% of the house? On the other hand, the front yard would be easy to take care of…

Comments (2) -- Posted by: burbed @ 7:00 pm

Lawsuit forces ethics minimum on entire mortgage industry

MiamiHerald.com | 02/05/2006 | Lawsuit forces ethics minimum on entire mortgage industry
Ameriquest has reached a settlement over alleged abuses that constitute a virtual how-to manual for mistreating customers.
BY KENNETH HARNEY
kenharney@earthlink.net

Did your loan officer sit you down and walk you through all the key operational details of your most recent mortgage before you signed on the dotted line?

Did you see a copy of the appraisal and have a chance to review it carefully?

Did you understand when — if ever — a prepayment penalty might take effect to discourage you from refinancing? Or was that whole subject left a little fuzzy?

Did you receive a copy of your loan and settlement cost good faith estimates (GFEs) within three business days of application?

These may sound like the most basic of questions, and you may well answer: Duh! Of course I understood everything I needed to, and yes, my loan officer was an absolute font of useful information.

But the recent $325 million multistate legal settlement involving Ameriquest Mortgage Co. suggests that not all is well on the home loan front, and that even experienced buyers and refinancers need to question more, review more, probe more before committing to what is often the biggest debt burdens of their lives.

Good questions to ask.

Click here to post a comment -- Posted by: burbed @ 5:09 pm

California Homes Sales Up, Bay Area Sales Declining

CBS 5: CA Homes Sales Up, Bay Area Sales Declining
Californians bought new homes in 2005 at the highest rate in two decades, according to a report released Friday.

DataQuick, a real estate information service, reported 136,228 newly built homes were sold last year, the highest amount sold since the company began taking records in 1988.

San Mateo County was the most expensive place to buy a brand-new house. The median price was $900,000.

DataQuick President Marshall Prentice attributed the record number to strong demand and relatively low interest rates in 2005.

But overall sales of Bay Area homes have declined for the last nine months, according to a report released last week by DataQuick.

Uh oh. Is this the end for the Bay Area Bubble?

Click here to post a comment -- Posted by: burbed @ 1:58 am

February 4, 2006

$555k – “Great Potential” in Redwood City

Wow check out this deal:
96buckinham.jpg
Just $555k! Demolition doesn’t seem to be offered… I wonder how much you’ll have to overbid for this. (Hint, neighborhood isn’t all that great)
Comments (4) -- Posted by: burbed @ 1:10 am