October 25, 2007

Bay Area: An average los of $5,000 per month for current listings

Burbed reader Remodelnerd sent this postcard in:

Here’s what Remodelnerd had to say:

 Anyway- got this in the mail yesterday, thought you might be interested.  I thought I was making money hand over fist here in Bay Area 2.0- but, boo

hoo- actually I’m losing $5000 a month!!  Shoot.  Now I’m going to have to make way over the 100K *everybody* here makes- just to break even. :-(

Well, I’ll be the first to admit it – the real estate market is a bit soft around here. In part because the Main Street Media (MSM) continues to wrongly insist that places like East Bay, Gilroy, and others are part of the Bay Area.

Fret not though, just wait until Spring Bounce! Everyone knows that once the Superbowl passes, prices will resume their normal, healthy, God given 20% per year apprecation. It’s just a matter of time – be strong! Be strong!

Comments (8) -- Posted by: burbed @ 5:23 am






October 24, 2007

Please buy before it gets squashed…

Reports
428 EUCLID AV
San Bruno (San Bruno) 94066
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 720
Lot: 2,500 sq ft
Age: –
List Price: $498,888

428.jpg
Assoc Fee:
Remarks
BEAUTIFUL CUTIE IN EXCELLENT LOCATION. REMODELLED KITCHEN,BATH,UPDATED THRUOUT GRANITE COUNTER,TILE IN KITCHEN& BATH. HARDWOOD FLOORS.NEW PAINT IN & OUT.

Sometimes I wonder if selling agents really deserve their commission. This one does.

If you don’t buy this house soon, he’s going to squash it.

I don’t know about you, but I’m reaching for my checkbook already! (Fortunately, the price ends with 888 so this house has some luck!)

Comments (9) -- Posted by: burbed @ 5:56 am

What would you say to these Manteca folks?

San Jose Mercury News – Bidding on new Manteca homes makes 34 new owners ecstatic
When homeowner Dave Cantrell walked into the hotel ballroom Saturday where Anderson Homes was auctioning off one-third of the brand-new houses in his Manteca subdivision, he tried to be optimistic.

He approached Anderson Homes executive Craig Barton, shook his hand and wished them both luck that the buyers would bid close to the latest asking prices of the 34 homes in the Paseo West subdivision that have been sitting empty since the real estate market soured.

But when the rapid-fire bidding was over 90 minutes later – and one winning bidder stood up like a prize fighter with his arms raised in triumph – Cantrell didn’t even want to look at Barton, the man he invited into his home two weeks ago to calm the fears of his 26 neighbors who worried the auction would tank the value of their homes.

“I’m feeling my worst fears right now,” said Cantrell, who estimated that the auction devalued his neighbors’ homes by roughly $200,000 each compared with what many of them paid a year ago. “I lost a quarter million dollars in value. I’m screwed.”

Cantrell bought his home a year ago for $670,000 (not including the $90,000 he paid to install a pool and miniature golf course). The winning bidder Saturday of an identical home five doors down the street paid $391,000 – 38 percent less than what he paid.

Burbed Reader Mike forwarded this on to me. Do you have any words of wisdom or advice for these Manteca folks?

Comments (27) -- Posted by: burbed @ 4:00 am

October 23, 2007

It’s home! It’s a business! It’s a trailer! It’s an autobot! It’s in San Bruno! Sort of!

Reports
797.jpgProperty Overview
797 6TH AV
San Bruno (San Bruno) 94066
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 986
Lot: 3,260 sq ft
Age: –
List Price: $528,888
Assoc Fee:
Remarks
EXCELLENT STARTER HOME ZONED COMMERCIAL. SITS ON CORNER OF SAN BRUNO AV & 6TH PERFECT FOR SMALL FAMILY BUSINESS. ADD’L PARKING SPACE AVAIL.LOTS OF POTENTIAL.

Lots of potential indeed. I hear this house can also transform into a giant robot, and fight the forces of evil. You just wait and see!

This post wouldn’t be complete without the other photo that was submitted with this MLS entry:

797b.jpg

I was on the fence at first – but seeing this additional shot that the realtor posted, I am 100% freakin’ sold!

(Note that if this indeed an autobot, it may be hard to get insurance.)

Comments (5) -- Posted by: burbed @ 5:50 am

October 22, 2007

Time travel on Burbed

Some of you have may noticed that some posts are showing up with dates in the future.

I’m trying to track down what’s going on here.

If anyone has any experience with this sort of issue in WordPress, please let me know.

Thanks!

Click here to post a comment -- Posted by: burbed @ 11:47 am

This house encourages public transporation use

Reports
941 EASTON AV
San Bruno (San Bruno) 94066
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 940
Lot: 2,483 sq ft
Age: –
List Price: $629,900
Assoc Fee:941east.jpg
Remarks
2/1 Home With Bonus Room. Newly Remodeled Kitchen, Hardwood Floors Throughout Entire House, Tile Flooring In Kitchen. Close to Shopping, Highways and Public Transportation.

It doesn’t say in the listing, but it’s quite possible that the car comes with the house! Just think – with that stuck in the driveway, you would have no choice but to ditch your car and take mass transit. I love the green thinking of this seller – that’s social conciousness! That’s social responsibility! Why can’t more sellers be like this?

BTW, this house has a bonus room – and being that it’s 2/1, that’s a pretty big bonus!

Comments (8) -- Posted by: burbed @ 5:59 am

Why Fremont is no longer part of the Bay Area

5549 Lemke, Fremont, CA 94538 – Property Details.
5549 Lemke, Fremont 94538 (Others)
$479,000

* Status: Active
* Bedroom: 3
* Bathroom: 2
* Year Built: 1965
* Lot Size: 6020
* Square Footage: 1256
* List Date: 9/21/2007
* Parking Spaces: 2
* MLS#: 40299290

Lovely home in great location! Home is located at the end of a cul-de-sac. Quiet neighborhood. 3 bedrooms, 2 bathrooms, and a family room. Home also has side access.

Burbed Reader U.P. had this to say:

I am regular reader/lurker at your site. I know that Fremont has been kicked out of the Bay Area but still a 23% LOSS (list price – we don’t know how low it will finally sell) in 1 year. It’s going to get really bad here!

Ouchers. Well it turns out this house was sold on 11/7/2006 for $649k.

Further proof that the East Bay is no longer part of the Bay Area.

Maybe next year you can join us again – just gotta get those prices back up!

(Oh, and don’t let the map above deceive you – this house is located a good 2 blocks away from tranquil 880)

Comments (5) -- Posted by: burbed @ 5:29 am

October 20, 2007

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Comments (1) -- Posted by: burbed @ 7:08 am

If Jack Bauer were a landlord…

Is it me, or does it feel like Jack Bauer wrote this ad on Craigslist?

4/2/2 House Kitchen AEK. Nr. GOOGLE CORP. Lease 1 year.
$3000 / 4br – 4/2/2 House Kitchen AEK. Nr. GOOGLE CORP. Lease 1 year. (mountain view)
Reply to: Svet2u0@wmconnect.com
Date: 2007-10-12, 1:46AM PDT

House is in Sterlin Estates. New paint, clean carpets over hardwood oak floor. 2 patio sliding glass doors, garden, private shed, fruit trees, washer and drier with clothes line to save energy costs. Wide streets for turning around. Good neighborhood, plenty of parking in or off driveway.
Advantages are less commuting to 101, 237, 85 Freeways.
You need to apply first by answering a few easy questions:
1. Where your group works?
2. When are you moving?
3. How many in group?
4. Local telephone number?
Send to:

Comments (4) -- Posted by: burbed @ 5:18 am

What is median home price so expensive in Bay Area?

The other day someone found this blog by searching for “What is median home price so expensive in Bay Area? ”

Isn’t the answer obvious? It’s because it’s the Bay Area.

Stock options.

Millionaires.

Smart People.

Special.

Not making any more land.

Everyone knows that real estate only goes up.

Frankly, if you had to search for that – I’m not sure you deserve to live here.

Comments (5) -- Posted by: burbed @ 4:48 am