June 22, 2007

"Alameda Delusional Flipper"

REALTOR.com: Find a Home – Listing Detail1127 MOUND ST
ALAMEDA, CA 94501
MLS ID# 40271679
$580,000
2 Bed, 1 Bath, 776 Sq. Ft., 0.07 Acres

1127mound.jpg

Single Family Property, Area: Alameda Map Area 1, Subdivision: EAST END, County: Alameda, Approximately 0.07 acre(s), Year Built: 1900, Single story, Garage

Burbed Reader Adam had this to say:

Check out 1127 mound alameda, ca
Delusional floppers at work. I believe it’s the second higest $/sq foot in alameda @ 747 sq foot.

http://www.redfin.com/stingray/do/printable-property?external_id=1803836

http://homes.realtor.com/search/listingdetail.aspx?mlslid=40271679&typ=7&sid=a1ba4d0835d94d2da8ce537060a587a5&lid=1082312633&lsn=1&srcnt=1#Detail

Looks nice huh? Those floppers did a really good job on the outside, what with all that beautiful resin lattice work ($20 a sheet from home depot). I see no reason they shouldn’t expect a 200% return on their investment in a little over a year.

Uh, Adam – Alameda is prime. The sheer fact that it’s in the Bay Area means it deserves returns like that. Now, granted, it’s not as prime as Milpitas, where some houses appreciated $1500+ per day (check back next week to see this!) – but still, it’s special here.

I predict this will double again next year. It’s inevitable especially with the strong job growth here!

Click here to post a comment -- Posted by: burbed @ 4:49 am






June 21, 2007

$1 mil house in Redwood City – no more offers please – sort of – maybe

MLSlistings Property Detail for MLS number 725991
1902 MADISON AV
Redwood City, CA 94061
1902mad.jpg

$1,089,000
Beautifully & Completely Remodeled
Every thing new! All stainless steel appliances, marble counter tops, travertine, crown moulding, hardwood and tile floors, plus much, much more! Open House Sat. 05/26 2-4. Any and all offers to be recieved by 5/30 before 4pm

This Single Family Residence has the following features:
MLS#: 725991 Approx Age: Unavailable Approx Sq Ft: 1780
Detached Single Family 1 Story Ranch
4 Bedrooms 1 Master Bedroom Suite 3 Bathrooms

So it’s now June 21st. All offers were due on May 30th before 4pm.

What does this mean? Is this listing still up just to mess with people? Is it a trap to see how many people will still give offers even though it’s almost a month too late?

Why must you tease me, million dollar Redwood City house?? WHY? WHYYYYYYYYYYY?

Click here to post a comment -- Posted by: burbed @ 5:55 am

June 20, 2007

Parking, PARKING, PARKING!!!! Interior? Not so much.

MLSlistings Property Detail for MLS number 717748
59 W ALMA AV
San Jose, CA 95110
59alma.jpg

$499,950

This Single Family Residence has the following features:
MLS#: 717748 Approx Age: 91 Years Approx Sq Ft: 1115
Detached Single Family 1 Story Ranch
3 Bedrooms Ground Floor Bedroom 1&1/2 Bathrooms

Looking at the next few photos, I think the realtor is trying to tell us something. But what is it?

59almab.jpg

I get it! This house has plenty of parking! You can park at least 3 cars in the driveway, an RV in the backyard (HINT HINT RENT OPPORTUNITY HINT HINT!) and more!

You’ll be cash flow positive in no time – so forget what the interior looks like. There’s no need to know! Buy this and it’ll be a land lording cakewalk!

Click here to post a comment -- Posted by: burbed @ 5:33 am

June 19, 2007

Doom. Doom. Doom.

1641 Christopher St, San Jose, CA 95122. San Jose Real Estate/Home for Sale.
1641 Christopher St, San Jose 95122

1641christopher.jpg

Bedroom: 3 Bathroom: 1 MLS#: 716339 Square Footage: 960 $509,900
Status:
Active
Year Built: N/A Parking Spaces: 2 List Date: 3/30/2007 Lot Size: 5500

DESCRIPTION -
1641 Christopher St, San Jose
Originally a 3 Bedroom 1 Bath. Garage Converted into a bedroom and bath. No Permits. Fixer upper to be sold “as-is”. With some work good investment prop. Large backyard with covered patio. Easy access to freeway, schools and shops.

Let’s ignore the “garage is a bedroom and bath” thing. Come on, just look at the clouds in that picture. I think I saw that formation in the latest Pirates of the Caribbean! That’s pretty damn scary.

I’m sure someone will comment on the location being scarier, but the clouds – THE CLOUDS!

Click here to post a comment -- Posted by: burbed @ 5:30 am

June 18, 2007

$534,950 for a 576 sqft starter home

1067 Palm St, San Jose, CA 95110. San Jose Real Estate/Home for Sale.
1067 Palm St, San Jose 95110
1067palm.jpg

Bedroom: 2 Bathroom: 1 MLS#: 713440 Square Footage: 576 $534,950
Status:
Active
Year Built: N/A Parking Spaces: 2 List Date: 3/17/2007 Lot Size: 4356

DESCRIPTION -
1067 Palm St, San Jose
GREAT STARTER HOME, NEAR CHURCH, FREEWAYS, EASY ACCESS TO DOWN TOWN SAN JOSE AND WILLOW GLEN AND SCHOOLS. NICE FAMILY NEIGHBORHOOD. SELLER HAS DONE MANY UPGRADES. FULL BASEMENT, NEW PAINT, WINDOWS, ETC.

Well, good thing this house is “near church” – how did the realtor manage to guess my religion. I didn’t think there would be many Flying Spaghetti Monster churches around here – but I guess there’s one here!

Clearly this is a starter home – look at all the opportunity to grow. Oh wait.

Last but not least, I simply love the backyard:

1067palmb.jpg

Maybe you could create a cash flow stream by renting the backyard out for parking! Or raves!

Click here to post a comment -- Posted by: burbed @ 5:22 am

June 17, 2007

Dear mlslistings.com – DO NOT WANT

Dear MLSlistings.com,

For the last I’ve linked to you a countless number of times. Unfortunately, I am no longer able to.

Why?

Because links simply don’t work. For example, if I link to:

http://www.mls-2.com/houseDetail.jsp?mls=754465

it gets redirected to:

http://www.mlslistings.com/Search/Result.aspx

How is that possibly useful? And it’s not like you prepopulate the MLS field either.

So, in short:

Click here to post a comment -- Posted by: burbed @ 8:35 pm

Switching to Feedburner

Like a flipper upgrading to granite appliances, pergo countertops, and stainless steel floors - I’m switching this feed to feedburner.

You shouldn’t notice a change. But if you do, well – and it doesn’t get better, please let me know!

Click here to post a comment -- Posted by: burbed @ 1:00 pm

Taiwan and Hong Kong continue to beat us in housing

China Post – Taiwan Business,World Business,台灣財經
Taipei’s average house price in the first quarter was eight times the annual income of the city’s residents, said the Council for Economic and Planning and Development (CEPD) yesterday.

The equivalent for a typical Taipei resident would be to go without food or water for eight years before being able to buy a house.

The CEPD, which released its quarterly house price report yesterday, said in the first quarter, Taiwan’s house price-to-income ratio was 6.6, the same as Q4 last year.

Sigh.

The Electric New Paper, Singapore – The Electric New Paper News
TEN years after its return to Chinese rule, Hong Kong ranks again among the world’s most expensive cities to live in after a traumatic, roller-coaster ride that has left many home owners still feeling the pain.

A 5,100 sq ft three-storey hill-side house was sold at HK$210 million ($41m) recently at nearly HK$41,000 [$5,244 USD] per sq ft, reported Apple Daily.

Double sigh.

Well, maybe the Bay Area isn’t the most special place on earth – just America.

We can only aspire to have prices like that. If we all put our hearts and minds at it, I just know we can drive prices in Cupertino to at least $2000 per square foot by the end of 2008.

How about we set a 5 year plan of reaching $4000 per square foot, or 10x median income?

Come on everyone – I know we can do it. Help keep the Bay Area special! Or the terrorists will have won!

Click here to post a comment -- Posted by: burbed @ 5:21 am

June 16, 2007

Mark Morford is Priced Out Forever.

I Do Not Have $1 Million / Ergo, I cannot buy a delicious home in San Francisco. Ergo, I am screwed foreverBut until that time, if I want to live in San Francisco, if I wish to have some semblance of space and hope and urban love with enough money left over for Peet’s and good wine and relatively decent porn, I must do what all commoners like me must do: I gotta rent.

Apparently, quite nearly forever.

Hey Mark, it sounds like you’re Priced Out Forever. That’s what you get for not buying a place before you were born. That’s what you get for choosing the wrong parents. Slacker.

Well, you can make up for it – buy this shirt today and let everyone know how screwed you are:

Or better yet, just buy a place today. Instead of being so obnoxious and wanting to buy your dream home right away, why not be reasonable and start with a NegAm mortgage in Merced. Then, in 5 years after you reap 30% a year appreciation, you can roll your earnings into a 50 year mortgage for a condo in the Mission.

I know this will take work Mark, but I know you can do it. The choice is yours – be priced out forever, or fight the terrorists by being a homeowner.

Click here to post a comment -- Posted by: burbed @ 6:34 am

June 15, 2007

Drive by shooting at a $687,617 home

San Jose Mercury News – East Palo Alto woman shot while standing in driveway
Police are searching for suspects after a 20-year-old East Palo Alto woman was shot, police said today.

Meleseni Kupu was standing in the driveway of 2529 Fordham Ave. around 9:15 p.m. Wednesday when she heard gunshots and realized she had been shot, according to police. Kupu was transported to a local hospital with two non-life-threatening gunshot wounds to her upper left chest.

Witnesses told police that two or three suspects wearing black hooded sweatshirts stood across the street from the residence and fired seven to 10 shots. Officers at the scene collected 15 9-millimeter bullet casings at the scene, according to police.

More drive by shootings in East Palo Alto? I thought that was so 2006.

No wonder this house only has a Zestimate of $687,618 – and was sold in 2005  for $589,00, after being sold in 2004 for $440,00.
Just think, once they get this drive by shooting thing nailed, this will be a million dollar house!

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