Real Estate Bubble Blogs - Moneysmartz Category Updates: Moneysmartz Personal Finance Blog
Real Estate Bubble Blogs - Moneysmartz Category Updates

Be worried, be very worried.

In addition to global warming, the dollar, and Iraq, add the housing bubble to your list of worries.

This is old news for many, but the chorus of concern seems to be reaching a climax.

Get ready for another decline say a growing list of real estate bubble bloggers.

In surveying real estate bubble bloggers, Moneysmartz found some very, very depressing news and more than a few blogs worth a moment of your time, particularly if you live in a bubble market.

Wow this is a pretty comprehensive list of bubble real estate blogs.

But the fact is that Bay Area real estate isn’t very bubblicious - it’s always been this crazy.

Thanks for the link though…

So a week ago, I posted about this house in Redmond that I thought was near Microsoft. Someone commented that this was actually really far from Microsoft. Fair enough. So I took a look at map and tried to find a house that was near the fancy mall in Bellevue.

And I tried to keep the price at the high $600’s - so as to keep it comparable to a median house in Google’s zip code. Here’s what I found:

REALTOR.com: Find a Home - Listing Detail
Bellevue, WA 98004
MLS ID#: 26026236
$694,950
4 Bed, 1.75 Bath
2,370 Sq. Ft.
0.24 Acres

Single Family Property, Area: Bellevue West of Interstate 405, Approximately 0.24 acre(s), Lot is 10352 sq. ft., Year Built: 1954, View, Single story, Basement, Hardwood floors

On Monday, we’ll find a comparable house in Google’s zip code (which, btw, includes Plaxo, Intuit, Microsoft, Sportsvision, PGP, and a plethora of other famous tech companies)… Your suggestions are welcomed!

Continuing with the value theme… what’s the Cheapest House in Santa Clara County? (excluding Morgan Hill - let’s try to limit our daily commute to just 2 hours)

It looks like this is the winner:

MLSlistings Property Detail for MLS number 615527
109 ROBERTS CT
San Jose, CA 95110

$425,000
Cozy Bungalow
This cozy home features recently remodeled bathroom & kitchen with granite floors, dual pane windows, wood floor in living room & dining area, marble shower, Sunroom added with permit not in sqft, Laundry in utility room in Backyard

This Single Family Residence has the following features:
MLS#: 615527 Approx Age: 66 Years Approx Sq Ft: 520
Detached Single Family 1 Story Cottage/Bungalow
1 Bedroom 1 Bathroom 1 Stall Shower

And, convenient access to empty warehouse fields! All for $817 per square foot!

Let’s look for some deals… for example… what’s the cheapest condo in Santa Clara?

MLSlistings Property Detail for MLS number 612153
932 KIELY BL #C
Santa Clara, CA 95051

$259,000
Homeowners’ Association Fee:$302

This Condominium has the following features:
MLS#: 612153 Approx Age: 43 Years Approx Sq Ft: 440
Condominium 51-100 Units Low Rise (1-3 Stories)
Contemporary 1 Level 2nd Floor Unit

Wait a minute… that’s $588 a square foot! More than than a typical house! On the other hand, you do get to live next to a hospital…

ValleyWag reported that:

About a dozen san mateo sheriffs watching the road and at least 20 private security in front of the gatehouse of his Woodside Japanese estate on Mountain Home Road.

Is it this property?

Alain Pinel Realtors
Offered at: $25,000,000
Area: 291 El Camino to Alameda
Bedrooms / Bathrooms: 7 / 7
Living Area square feet: 8090
Approximate Lot Size: Lot: 2.5 to 5 Acres
Property Age: 40
Property Class: Residential
MLS #: APR00488

An exquisite expression of the guiding principles of Japanese aesthetics, Larry Ellison´s extraordinary West Atherton estate offers visual appeal around every corner. Abundant windows and sliding glass doors with pocket shoji screens open to the exquisitely landscaped grounds, affording seamless integration between the interior spaces and the Japanese gardens. The elegant and flowing floorplan of 7 bedrooms and 7.5 baths is arranged over two levels, highlighted by a sumptuous master suite with a fireplace and two full bathrooms. The outstanding grounds of approximately 2.8 acres include an authentic Japanese tea house, exquisite Japanese strolling gardens with decks, ponds, waterfalls, koi pond, an in-ground spa off the master suite, a dark-bottom swimming pool rimmed with boulders that melds into the landscape, and a clay tennis court with a wisteria-covered viewing pavilion. Each season is announced by a timed burst of color. Located near the Menlo Circus Club. Menlo Park schools.

I wonder why he’s selling? Anyone know?

Thanks to reader Andy C for this heads up that this was available!

After Friday’s reality check, it’s time to go back to unreality…

Sacramento Land(ing): 50-Year Mortgage a Penny Saver?
A reader noticed this ad in a local PennySaver. Is this a sign of the end of the housing boom or is this the beginning of a brave new world of multi-generational mortgages?

Wow! I don’t think people even get 50 year mortgages to live in New York City!

But then again, New York City is no Lodi.

Fault East of Bay Area ‘Locked and Loaded’ — Newsday.com
– New cracks appear in Elke DeMuynck’s ceiling every few weeks, zigzagging across her living room, creeping toward the fireplace, veering down the wall. Month after month, year after year, she patches, paints and waits.

“It definitely lets you know your house is constantly shifting,” DeMuynck said. So do the gate outside that swings uselessly 2 1/2 inches from its latch, the strange bulges in the street and the geology students who make pilgrimages to her cul-de-sac.

DeMuynck could throw her paint brush from her front stoop and hit the Hayward Fault, which geologists consider the most dangerous in the San Francisco Bay Area, if not the nation. Like others who live here, she gets by on a blend of denial, hope and humor.

I’ve heard that the cracks add more charm and thus raises the price of the house!

Marin PoS: Commercial Break
I love the fact that this blog has inspired others to do the same. At least, that is the impression I get for all but one of the following. Anyway, if you like reading about Marin’s PoSs then I also suggest you check out these excellent blogs as they also list PoSs:

America’s Overvalued Real Estate
Burbed
Flip This
Bubble Meter

Thanks Marin PoS!