September 30, 2006

Boomers – buying big houses for 2

A recurring theme is that now is a great time to buy because the Bay Area is more special than ever, that they’re not making any more land, that immigrants are rushing in to buy, and that boomers are buying like crazy.

I’ve always wondered about that last part – but go figure, it’s true!

Trendsetting boomers ready for some ‘me’ time in their homes – MarketWatch
CHICAGO (MarketWatch) — Every eight seconds, another baby boomer turns 60. And as the trendsetters of the generation head for retirement, they’re yearning for their dream homes.

But their idea of housing utopia doesn’t necessarily hinge on spending quality time with the grandkids, according to a study commissioned by publisher Hanley Wood and released this week at the company’s American Housing Conference in Chicago.

More than a third said their adult children and their own parents are not a consideration in creating their dream homes. Sixty-three percent said enjoying their home after age 60 is a priority above or equal to spending time with the grandchildren, and just 35% said they’d relocate to be closer to family and loved ones.
“The generation has always been considered selfish,” said Frank Anton, chief executive officer of Hanley Wood, a media and information company for the housing and construction industry. “This survey would indicate maybe they’re more selfish than anyone knows.”
The longing for “me” time is a theme that often appears in their real estate preferences, as identified by the Hanley Wood study. Many have a list of dream amenities: Homes that are cozy and comfortable, yet airy and spacious; homes without stairs, but with room for a Stairmaster; living spaces that are energy efficient, but deluxe. They don’t want single-age communities, instead looking for opportunities to stay active.

Go figure!

Click here to post a comment -- Posted by: burbed @ 5:26 am






September 29, 2006

Afraid of bird flu? This $788,000 house is for you

MLSlistings Property Detail for MLS number 650344
3792 PARK BL
Palo Alto, CA 94306
3792park.jpg
$788,000

This Single Family Residence has the following features:
MLS#: 650344 Approx Age: 27 Years Approx Sq Ft: 1527
Detached Single Family 2 Stories Cabin
2 Bedrooms 1 Master Bedroom Suite 1&1/2 Bathrooms
1 Stall Shower 1 Tub Dining Area in Family Room

Apparently having a house with windows in the front went out of vogue in 1979 – but that’s good for you’re afraid of catching bird flu from cross vent! Just seal off the two remaining windows/doors and you’re set. When we’re at Threat Level Red, you’ll be glad!

Click here to post a comment -- Posted by: burbed @ 5:11 am

September 28, 2006

"their mortgage payments are more than their income"

Central Valley Business Times
More foreclosures loom as pace of mortgage defaults quickens

A softening home market is not by itself to blame for the jump in California home foreclosures says a San Diego attorney who specializes in helping those faced with losing their homes.

The most common reason is an event such as loss of job or illness to a family’s major income producer. But attorney John Brady says there are other causes that he is seeing more often.

“It could be predatory lending,” he says.

“I’ve had a number of people in this last month – this is completely unbelievable and so foreign – their mortgage payments are more than their income,” Mr. Brady says.

Why don’t people understand that you need to pay to live in a place as special as California?

Besides, everyone knows real estate only goes up in the long run. So if you wait long enough, you’ll be able to sell and be a millionaire.

Click here to post a comment -- Posted by: burbed @ 5:31 am

September 27, 2006

Buy this $699,000 house to grow organic food!

MLSlistings Property Detail for MLS number 640005
1686 DUVALL DR
San Jose, CA 95130
1686duvall.jpg

$699,000
Just Reduced for You
Brand new kitchen w/luxury lightings
Shiny hardwood floor throughout
expensive marble bathroom,cozy dinning but lovely
Huge backyard for BBQ Party and Organic food you can produce With peace of mind ,quiet ,affordable,easy commute,what else are you looking for?
Come in and Get It before too late
For your Dream House

This Single Family Residence has the following features:
MLS#: 640005 Approx Age: 47 Years Approx Sq Ft: 1330

Sweet! I’ve always wanted to be an organic farmer. And with this house I can! I guess there aren’t too many people who aspire to be organic farmers as this has been on the market since late June.

Click here to post a comment -- Posted by: burbed @ 5:34 am

September 26, 2006

"Neighborhood with many homes that have been Re Built."

Palo Alto Property Details – Palo Alto Real Estate – Palo Alto Homes for Sale – Movoto
Palo Alto 94306

48years.jpg

Bedroom: 3 Bathroom: 1 Square Footage: 972 $849,000
Status:
Active
Year Built: 1952 List Date: 8/28/2006 Lot Size: 11326
Parking Spaces: 2 MLS#: 654462
Ask a Question Neighborhood Data Comparable Sale Data Email this to a friend
DESCRIPTION –
Palo Alto
First Time on Market in 48 years. Light and Bright Open Floor Plan. Painted inside and carpets cleaned. Huge Level Lot with Private yard. Neighborhood with many homes that have been Re Built. Many Possibilities.

They say you should always buy the worst house on the block. Being that the address isn’t listed for this house, and that it’s the first time its been on the market in 48 years, and that it’s in a neighborhood with many homes that have been “re built” – this might actually be a great opportunity for a tear down! That’d probably bring your total price to $1.1 million.

Now if only the comps for the neighborhood could be known…

Click here to post a comment -- Posted by: burbed @ 5:15 am

September 25, 2006

CSI:Palo Alto? $650,000 for this strange photo

MLSlistings Property Detail for MLS number 647139
2565 PARK BL #O-201
Palo Alto, CA 94306

2565park.jpg

$650,000
Homeowners’ Association Fee:$462
Open House Showing
Saturday, September 09, 2006 1:30 PM – 4:30 PM
Sunday, September 10, 2006 1:30 PM – 4:30 PM
LB &Enter gate from Grant Ave at Park Bl-Call for entry 800-894-5293

This Condominium has the following features:
MLS#: 647139 Approx Age: 13 Years Approx Sq Ft: 1306

Did they find this in the evidence room or something? What the heck?

Click here to post a comment -- Posted by: burbed @ 5:06 am

September 24, 2006

See anything good this weekend?

So… go to any open houses this weekend? See anything good? Anything interesting? Anything wacky? More “great for first time buyer” homes?

Let me know!

Click here to post a comment -- Posted by: burbed @ 1:22 pm

September 22, 2006

Home Sales Dropping | The Onion

Time for some Friday fun!

Home Sales Dropping | The Onion – America’s Finest News Source
Home Sales Dropping

September 20, 2006 | Issue 42•38

For the third straight month, sales on preexisting homes dropped, leading realtors to call it a “buyer’s market.” Here are some strategies sellers are using to entice buyers:

* Dropping price by 50 bucks
* Carrying around wad of money; acting like owning this house got them that money
* Pointing out dishwasher several times
* Explaining to potential buyers how fulfilling it is to make mortgage payment on time
* Telling long, touching story about how grandmother needs $312,500 for kidney operation
* Letting third blouse button go
* Drowning out sound of noisy furnace with soulful vocals of Michael McDonald
* Reassuring buyers that people purchase things they can’t afford all the time

Click here to post a comment -- Posted by: burbed @ 6:54 am

$588,000 for a house with land for 56 years

Just when I thought I had seen everything – I found this:

269 ADDISON AV, Palo Alto Property Details – Palo Alto Real Estate – Palo Alto Homes for Sale – Movoto
269 ADDISON AV, Palo Alto 94301

269addison.jpg

Bedroom: 2 Bathroom: 2&1/2 Square Footage: 1239 $588,000
Status:
Active
Year Built: N/A List Date: 7/12/2006 Lot Size: 6098
Parking Spaces: 0 MLS#: 643318
Ask a Question Neighborhood Data Comparable Sale Data Email this to a friend
DESCRIPTION –
269 ADDISON AV, Palo Alto
Leased land 56 years remaining.Payment per month $1261. Prop.tax$269.per month for land. Great area.Must see to appricate this property. Inside laundry,large yard. “As is” sale all inspections and disclosures ready. Call LA for details

56 years remaining? What happens in 2062? In the meantime, can I buy the mineral rights for this property?

Click here to post a comment -- Posted by: burbed @ 5:03 am

September 21, 2006

$512,000 for a 986 sqft house with no parking in San Leandro

Burbed doesn’t usually venture to the East Bay – but a reader, Mike, submitted this one that’s just too good:

REALTOR.com: Find a Home – Listing Detail
589 BEATRICE ST
SAN LEANDRO, CA 94579
MLS ID#: 40203849
$512,000
2 Bed, 1 Bath
986 Sq. Ft.
0.12 Acres
589beatrice.jpg

Single Family Property, Area: San Leandro, Subdivision: MANOR, County: Alameda, Approximately 0.12 acre(s), Lot is 5187 sq. ft., Year Built: 1948, Single story, Garage, Fireplace(s)

So far so… uh… good.

Here’s what Mike had to say:

Zillow says this about the house:

Sale History & Tax Info Sale History
11/07/2003: $353,000
02/08/2002: $255,000
02/28/1997: $96,000
12/23/1996: $10,000

Here’s the 2nd reason I think the house deserves to be on burbed.com…

589beatriceb.jpg

You see the house with the white roof, right next to the freeway off-ramp intersection? That’s this gem right here. I used to live in the area and passed by the house almost daily. Sunday church traffic, no parking allowed in front of the house, plus the commute traffic means pulling in and out your own driveway will be an adventure to say the least. San Leandro traffic planning at its finest.

So, I guess that means this has easy access to the freeway and nearby churches. Pretty special if you ask me!

Thanks Mike!

Click here to post a comment -- Posted by: burbed @ 10:03 pm