November 27, 2007

Finally, a reasonably priced home in Palo Alto

MLS-2.com: Property Details
2951 SOUTH CT, Palo Alto,CA,94306 – $938,000

2 Beds 816 Sq.Ft. Aprx. 1 Car Carport MLS#: 759544
2.0 Baths 5,044 Lot Size 54 Yrs Old Aprx. List Date: 2007-10-25

What’s new on MLS-2: Search by % Price Drop // Search by “MOTIVATED SELLERS”

Description – 2951 SOUTH CT, Palo Alto,CA,94306
Excellent Midtown location! Quiet Cul-de-sac. Charming rancher, original condition, add your upgrades, make it special for you! Lovely backyard, perfect for entertaining, kids & pets. Excellent PA schools (buyer to verify attendance).

Finally, after a recent surge of ridiculously priced homes comes one that makes the Bay Area pride. At $1149 per square foot, this Palo Alto house highlights the excellence of the Bay Area. Why so much? Uh, have you heard of Facebook, Google, or VMWare?

If I could, I would feature houses like this day after day on Burbed. With some hope, some government assistance, some assistance from renters, and more – I just know we can do it!

What will you do to help us reach this goal?

Comments (13) -- Posted by: burbed @ 5:23 am

13 Responses to “Finally, a reasonably priced home in Palo Alto”

  1. 3rd Generation Says:

    Besides on of the last great independent hardware stores, Palo Alto Hardware, what else makes this crappy home worth the better part of a million dollars? The offset garage door. Oh the local PA schools-but you will have to drive the kid since the traffic and perverts are too plentiful. Certainly not the hideous traffic and strip mall mentality.. How about the big boxes moving in where they do not belong? Oh, I forgot, there is a Starbucks nearby, Oh, Boy, a Starbucks they are so rare and hard to find. That does it, I’m making an OFFER. WOW, you live in Palo Alto – I am so impressed…

    Houses always go up (ask anyone living in Cleveland or Detroit)
    They are not making any more land (ask someone who lives within Santa Ana winds area)
    Its’ a GREAT time to BUY NOW (ask any used car salesman on straight commission)

    Thank you Burbd! You have done it again!

  2. ex-sunnyvale-renter Says:

    Proof that Palo Alto was an innovator 50+ years ago, the Snout House design may have started there.

    Also Palo Alto is where the strip mall started and has been celebrated ever since, basically PA’s a shithole but it’s OUR, EXPENSIVE shithole.

  3. PA Homeowner Says:

    I think this is already pending – I got some realtywhore flyer that said so. Its a substandard lot – only 5000 st. ft and next to the creek, so that may account for the low listing price. I bet it went for between $1.15-1.25 million.

  4. hedda Says:

    It’s a sad, sad day when a piece of shit like this house is “reasonably priced” at just under a million.

  5. ex-sunnyvale-renter Says:

    But it’s not that much in Weimar dollars! And the stream’s a good idea for when infrastructure goes all to hell, which could happen as soon as the next quake.

  6. RealEstater Says:

    Guys, guys, look at the positives:

    – “Wow” factor. You live in Palo Alto. As long as your friends don’t come to visit, they will be impressed.
    – Best schools all around from elementary to world famous Gunn high.
    – It’s under a million, and yet it’s not next to the freeway or Cal Train.
    – You can always replace the house, and join the 2 million dollar club.
    – Your friends’ house may go down with the housing downturn, but yours will only go up, because they ain’t making no more Palo Altos!

  7. ex-sunnyvale-renter Says:

    Er, that’s kind of in the slums though, if you don’t believe me, drive along Alma in that direction, endless apartments/barracks for everyone’s housecleaner, yard man, etc. Theft and crime are rather high there – I know someone who lives in a bit nicer part of that area and he’s had his car broken into, petty thefts, etc. Hasn’t been jacked only because he’s a BIG SCARY looking guy.

  8. burbed Says:

    Er, that’s kind of in the slums though, if you don’t believe me, drive along Alma in that direction

    I just took a look on Google Street View and on Live Maps – it really doesn’t look that bad there.

  9. PA Homeowner Says:

    Ex-Sunnyvale – I live around the corner from this house and it ain’t the slums. The apartments on Alma aren’t great, but they aren’t filled with housecleaners and gardeners either. Its more like poorer grad students and tech workers. The apartments aren’t cheap and the owners are the nosey kind who wouldn’t let 5 migrants live in one room.

    Its as safe as any other part of Palo Alto, probably safer since there its not close to downtown and not next to East Palo Alto.

  10. densityduck Says:

    PA Homeowner: No doubt that explains the premium price.

  11. PA Homeowner Says:

    The premium price is hard to explain, the scary thing is that about 2 block from this house a newly built mcmansion on a 6250 sq foot lot (with a full basement) recently went for $2.8 million. I really can’t explain that.

  12. DensityDuck Says:

    The full basement will be useful when the Big One hits. The whole house will collapse into the basement, making rebuilding much easier.

  13. Renter Says:

    It is about the price of land. Robert Schiller has an analysis recently. What went up in terms of housing price is actually land price. Construction cost did not change much after adjusted for inflation. The housing bubble is land bubble.


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