August 24, 2007

Wanted: Buy or Rent Ads

Hey Burbed readers,

See any interesting “Buy or Rent Ads” lately?

You know, ads for the same property in the rent and in the buy sections of craigslist?

Let me know.

Thanks!

Comments (3) -- Posted by: burbed @ 6:43 am






Which is better? The exterior or interior?

MLSlistings Property Detail for MLS number 741673
1393 SOCORRO AV
Sunnyvale, CA 940891393soco.jpg

$589,900
A WONDERFUL RANCH HOME WITH AN OUTDOOR FIREPLACE!
A WONDERFUL RANCH HOME WITH AN OUTDOOR BRICK FIREPLACE AND A COVERED PATIO GREAT FOR ENTERTAINING! FEATURES DOUBLE PANED WINDOWS, BREAKFAST BAR, LIVING ROOM/DINING ROOM COMBO AND AN UPDATED BATHROOM. WON’T LAST AT THIS PRICE!

This Single Family Residence has the following features:
MLS#: 741673 Approx Age: 51 Years Approx Sq Ft: 1000
Detached Single Family 1 Story 3 Bedrooms
2 Bathrooms 1 Stall Shower 1 Tub

Now granted this is pretty inexpensive for Sunnyvale – there are condos that cost more than this…. but still. This house has CURB APPEAL. My favorite part is the antenna – it really adds a certain…. charm to this house.

So let’s take a look now, indoors:

1393socob.jpg

Wowsers. Does that kitchen countertop have legs? Can you even fit 4 things on that stove? Why is there a chandelier in the bathroom?

I really can’t decide which is better… the exterior or the interior?

What do you think?

Comments (12) -- Posted by: burbed @ 5:46 am

August 23, 2007

Best Photo of the Year

MLSlistings Property Detail for MLS number 717167
1037 RUTH CT
East Palo Alto, CA 94303
1037ruth.jpg

$544,000

This Single Family Residence has the following features:
MLS#: 717167 Approx Age: 53 Years Approx Sq Ft: 1240
Detached Single Family 1 Story Ranch
3 Bedrooms 1 Bathroom 1 Shower over Tub
1 Tub Dining “L” Bonus Room

I know it’s only August, but I think this is a strong contender for Best Photo of the Year.

The composition is simply amazing. I love the contrast between the McMansions in the back, and the cars in the front. It’s so poetic. It’s saying to you, the potential buyer “This house can be whatever you want it to be! Oh, and the garage is probably a bedroom!”

Actually, I think I’ll submit this to the SFMOMA. Let’s see what they think!

Comments (1) -- Posted by: burbed @ 5:30 am

August 22, 2007

$70k incomes and $650k houses

Vallejo Times Herald – Housing slump hits American Canyon
The current housing market slowdown originated years ago when the average Bay Area home price sailed over $600,000 but the average income was around $70,000, she said.”Obviously, someone making $70,000 a year is not going to be able to afford a $650,000 house,” she said.

WTF is this BS?

Why is it “obvious” that someone making $70k can’t afford a $650k house? After all, they were able to last year. And heck, last year it was even predicted that these same people would be able to afford $1 million houses – because housing always goes up.

You know what this is? This is defeatism.

With that attitude, how will we drive the median to a million? How will we beat Manhattan in housing prices? How will we be more special?

And what, incomes aren’t going to soar? A $70k person can easily earn $250k next year.

Hello – ever heard of Google?

Hello – ever heard of VMWare?

Ridiculous.

Comments (4) -- Posted by: burbed @ 4:34 pm

I shall call it…mini-me!

MLSlistings Property Detail for MLS number 731642
380 UNIVERSITY AV
East Palo Alto, CA 94303
2380univ.jpg

$475,000

This Single Family Residence has the following features:
MLS#: 731642 Approx Age: 58 Years Approx Sq Ft: 920
Detached Single Family 1 Story Ranch
3 Bedrooms 1 Bathroom 1 Shower over Tub

Wow… just think of how many cars you can park at this house! And with 3 bedrooms, you can easily rent out a few, put up a RV in the yard and cash flow cash flow cash flow!

But wait, there’s more!

 2380univb.jpg

Yep, that’s right – the backyard is protected by a giant concrete wall, and you get a mini-me! You’re paying for 1 East Palo Alto House, but you’re really getting 1.5!

This won’t last long for sure!

Comments (5) -- Posted by: burbed @ 5:22 am

August 21, 2007

They’re not making any more land… unless they are

San Jose Mercury News – Mountain House community: From boom to bust on Bay Area’s edge
Mountain House, where Bay Area transplants are 80 percent of the population, is a dramatic illustration of a development that was built as a solution to Silicon Valley’s overpriced housing market. Now, it finds itself hurt by high gas prices, ever-worsening commutes and a growing desire among South Bay residents for housing close to Silicon Valley jobs – even if it’s condominiums and townhouses.

The trend of building high-density housing projects in the Bay Area’s urban communities has taken off in the past several years, the result of land-use policies that allowed developers to build condos and townhomes on former industrial property. This option
Advertisement
wasn’t widely available when buyers began moving to Mountain House.

It’s all taken a toll.

Perhaps it’s time to clarify the ol’ nugget a little: They’re not making any more land (unless they are)!

Click here to post a comment -- Posted by: burbed @ 10:48 am

What kind of house does $700,000 buy you in Mountain View?

MLSlistings Property Detail for MLS number 735131
285 STIERLIN RD
Mountain View, CA 94043
285stierlin.png

$699,000

This Single Family Residence has the following features:
MLS#: 735131 Approx Age: New Approx Sq Ft: 1866
Detached Single Family 1 Story 3 Bedrooms
2 Bathrooms 2 or More Stall Showers 2 or More Tubs

In most parts of this nation, $700k would buy you a pretty nice and huge house. But most of this nation is unlivable as it is not full of smart people, good food, and great weather like Mountain View.

Just because this house looks like it may have been a store in its past life shouldn’t stop you. It’s pretty roomy for this price. And it just needs a little TLC and this will be a million dollar house:

 stier.jpg

You can’t possibly tell me this isn’t a good deal. Mountain View is prime. It’s in the True Bay Area(TM). Heck, this is practically move in condition! Buy it today!

Comments (10) -- Posted by: burbed @ 5:51 am

August 20, 2007

Pretend you live in Manhattan with this San Jose Condo

MLSlistings Property Detail for MLS number 718257
1980 PRINCE GEORGE DR
San Jose, CA 95116
1980prince.png

$290,000
Homeowners’ Association Fee:$219

This Condominium has the following features:
MLS#: 718257 Approx Age: 24 Years Approx Sq Ft: 560
Condominium Low Rise (1-3 Stories) 1 Level
1st Floor Unit 1 Bedroom 1 Bathroom

You might be wondering – why is this 560 sqft condo next to 680 worth $517 per square foot? How will it enable me to pretend I live in Manhattan?

The secret is in the interior pics my friend:

pretend.png

You can’t tell me that awesome bathwall isn’t worth $500 per sqft right there. Or the amazing green walls.

It isn’t?

No, it is. You’re just not trendy enough my friend. You don’t deserve this condo. That’s right, look away.

Look away.

(Thanks to burbed reader  J&N for this!)

Comments (5) -- Posted by: burbed @ 5:41 am

August 19, 2007

Working for you: California Association of Mortgage Brokers

SignOnSanDiego.com > News > Business — Trade group seeks break for state’s home buyers
As the nationwide credit crunch continued to shake Wall Street and the lending industry yesterday, the California Association of Mortgage Brokers urged Congress to give a financial break to the state’s home buyers.

Leaders of the trade group asked federal lawmakers to declare California a “high-cost” state and raise the limit on the size of loans that can be purchased or guaranteed by Fannie Mae and Freddie Mac.

Now set at $417,000, the limit for so-called conforming loans forces many borrowers in pricey markets such as San Diego County to apply for more expensive “jumbo” loans.

Lending in the jumbo market has grown tighter as Wall Street has shied away from mortgages that are not backed by Fannie Mae or Freddie Mac.

[snip]

Ed Smith Jr., the group’s vice president of governmental affairs and industry relations, said consumers should “knock down the doors of their (federal) legislators to get the limit increased.”

The proposal could benefit California consumers, said Kevin Stein, associate director of the California Reinvestment Coalition, a lending watchdog group. “It probably is in the interest of most Californians if those thresholds are raised.”

[snip]

Declaring California a high-cost state would place it among select regions where the conforming rate limit is about 150 percent higher, Smith said. They include Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Yesterday, at the brokers association’s Annual Convention and Grand Exposition in Long Beach, the group also urged Congress to allow the Federal Housing Administration to increase access to its loans for “borrowers with less than perfect credit or unique employment circumstances.”

If you love Freedom, California, and Prop 13, you should be out there supporting the CAMB right now and fighting for cheaper mortgages for Californians. WTH? Alaska gets breaks on mortgages and we don’t?

If anything, they should raise the limits on mortgages to $800,000 simply for being the best place on the planet.

Congress simply doesn’t get California. Go California Association of Mortgage Brokers! Go!

Comments (4) -- Posted by: burbed @ 5:55 am

August 18, 2007

Would you buy from a wolf?

Burbed reader Brendan saw this recently:

08040716511.jpg

Here’s what he had to say:

Saw this down my street today, and I couldn’t stop laughing. Apparently a wolf is selling this condo. Would you buy from a wolf? Are wolves trustoworthy? Haha.

Kind of reminds me of the movie Training Day for some reason.

Have you seen any interesting signs? Send them my way!

Comments (4) -- Posted by: burbed @ 5:24 am