November 14, 2007

Counterargument: NJ is more expensive

“Dave Carson” posted this comment in this thread:

New Jersey is too expensive to live in? BS! Tenafly’s high schools and house prices. [Burbed.com]

Your statements are a bit off, in fact way off.

Forget home prices, in which we have you beat anyway. Median per capita income, we are SECOND in the nation. CT. being 1st. We have two Counties in the top 4 for highest property taxes, Hunterdon and Somerset. We are the SECOND wealthiest state in the union. You really should get your FACTS stright before you go spouting off.
By the way, I am not a proponent of living in NJ, I think it is ridiculously out of control. But your statements are just plain wrong. Besides, the Bay area is a real pit of debachery lately, too many left-wing commies, and America haters. So, while it sucks to live here if you are not wealthy, I’d rather be here than in SF with the communists.

I don’t know about you, fellow Burbed readers – but I certainly can’t stand for these derogatory comments about our place of residence: How dare he claim that housing is cheaper here compared to New Jersey!

Here are the facts:

Oh, excuse me. I just died laughing at how cheap living in New Jersey is.

Finally, Dave, who cares about incomes. That’s so last century. The paradigm has shifted. When you own a home, that is income – you just unlock that trapped equity. You east coasters simply don’t get it. It’s all about the house.

Readers, what do you think? Am I missing something here?

Comments (19) -- Posted by: burbed @ 9:57 am






Pretend you have the Secret Service in this house

Reports
MLS: 667012 Property Overview
1790 WAVERLY AV
San Jose (San Jose) 95122
Detached Single Family (Class 1)
Bed/Bath: 3 / 1 1/2
SqFt: 960
Lot: 4,791 sq ft
Age: –
List Price: $560,000
Assoc Fee:
Remarks
.central location , new roof,new stucco ,new paint ,in side and out , new tile floors ,new fence , new concrete thru out ,looks like nerw , an as is sale please,,,,,,,,,,,,,,,

Did you ever pretend that you were the President? Did you watch all those Jack Ryan movies and wonder: “Gosh, I really wish I had Secret Service protection?”

Well, if you answered yes, and you like commas, then this house is for you. Just think of how awesome it will be when get home at night, with your caravan of black Suburbans looking all bad ass. Awww yeah. That’d be living it up big time!

Do you think the Pres gets DUBS? Probably not – but you can!

Awww yeah.

Comments (1) -- Posted by: burbed @ 5:00 am

November 13, 2007

$3.1 million for a Palo Alto house with messy kitchen

Bill Lou – 470 Carolina Lane
Large 1-Story New Home – Luxury Life in Rural Palo Alto
$3,100,000

470 Carolina Lane
Palo Alto, CA 94306
6 Bedrooms
4 Full baths / 1 Half bath
4222 approx sq. feet

Luxury Living in the Fabulous New 1 story house! All Custom design and build house in & out, of 6 bedrooms/4.5 baths and large 2 car garage. Grandly landscaped.

Details: 2 wings of the floor plan, 4 bedrooms/3 baths on side; 2 bedrooms/1.5 baths on the other side. 2 central Air conditioners, 2 recirculation hot water heater systems. Central vacuum system, 5 home theather sound systems. Video surveilance camera around the whole house. CAT 6 internet connections, intercom through the entire house. Oversized 2 car garage (can park 3 cars). Large attic for ample storage (over 560 sq.ft storage space in attic). Straight grain long cherry hardwood floor with walnut lines throughout the entire house. 2 cooking areas inside the large kitchen in the great room. 16 skylights make the entire house full of light. 2 fish ponds make the Fengshui flow through the back and side yards. 9 automatic sprinkler and drip systems maintain the plants and flowers. American ceder woodsidings around the front of the house adds special rural living flavour. Various exterior decorations around the side and back of the house reminds of the English tudor style.

Proudly & Exclusively listed by BayCrown Properties Inc. Not listed in the MLS services or any other service.

Now, you know this is a special house. Why? Because it’s not on MLS!

But Burbed reader Charlie had this to say:

while there is more than enough to make fun of in the first picture I’d recommend the “high quality” virtual tour … its a grand total of 4 slides of which the kitchen (full of trash … really terrible
picture) and guest room (bathroom?) are great.

price? 3.1 mil. rriiiiiigggggtttt.

Well, let’s see this kitchen!

Oh. My. Um. Yeah.

Well, see… uh…. this house is so special that it can’t be on MLS and it can’t be staged. Yeah, that’s it.

This is one of those reality houses – it’s real. You know you’re going to live like that anyway, because you just bought a $3 million dollar house – so this helps you picture yourself.

I’m attracted already. I just hope Charlie didn’t beat me to it first!

Comments (13) -- Posted by: burbed @ 5:00 am

November 12, 2007

“Therapists see surge in patients stressing over their home values”

Therapists see surge in patients stressing over their home values
In the 37 years William Horstman has been practicing in San Francisco as a therapist, he’s never seen patients spend more time worrying about their home values – and their personal sense of wealth – than they do today. That includes the years after the 1989 Loma Prieta earthquake that devastated the housing market.”The market has risen dramatically in the past 10 years and, in San Francisco, that remains true today. But people don’t feel it,” said Horstman, who estimates that 10 to 15 percent of his clients’ therapy time is spent on the housing market.

What they feel is the stress of a market that’s swiftly and strongly adjusting. Bay Area cities such as Antioch, East Palo Alto, Oakland and Richmond have skyrocketing foreclosure rates and plunging home sales. Compared with the same time last year, home prices dropped more than 10 percent in Napa and Solano counties, according to DataQuick, an information services company. Meanwhile, home prices dipped by more than 5 percent in Alameda and Sonoma counties, and the number of sales nose-dived in many areas by nearly half in October compared with the year before.

Indeed, therapists and financial planners say what local homeowners are feeling is a financial insecurity that touches their work lives, their relationships and their sense of financial and personal worth.

“As your equity goes down, your psychological sense of worth can go down,” said Jan Edl Stein, a marriage and family therapist who practices in San Francisco and Marin.

Just a reminder of why it’s important to live in the Bay Area – our high housing prices mean that you are worth more as an individual!

This next quote is an example of why lower housing prices are bad for society:

“Overworking is the hallmark of the day,” he said. “My whole list of patients, except for the few who are independently wealthy, are all working much harder than they’ve ever worked. They feel a foreshortening of time. They have no time whatsoever to do anything but work and sleep.”

And because of that, they aren’t leaning on family or getting the support they need.

“Here you have people living not really in the moment, but just going on a treadmill without taking any stimuli in,” he said. “They don’t relax. They don’t sleep.”

Imagine if we lived somewhere cheap -we’d basically be a society of shiftless slackers, not doing any work. Not adding any value to the global economy. God Bless Silicon Valley and our Housing Prices.

Thanks to Burbed Readers J&N for this find!

Comments (5) -- Posted by: burbed @ 9:47 am

$745,000 for a 1095 sqft drive by PRIDE OF OWNERSHIP

MLS-2.com: Property Details
1771 NELSON, SANTA CLARA,CA,95054 – $745,000

3 Beds 1095 Sq.Ft. Aprx. 2 Car Garage MLS#: 754163
1.5 Baths 5,662 Lot Size 47 Yrs Old Aprx. List Date: 2007-09-26

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

Description – 1771 NELSON, SANTA CLARA,CA,95054
Beautiful house near Rivermark for sale! Everything has been remodeled, ready to move in. Pride of ownership. New carpet in bedrooms and tile in the rest of the house. Kitchen and bathrooms have been remodeled.

Nothing says pride of ownership like living in a neighborhood where the Realtor has to shoot the photo from his/her car. Yes sir, this is the pride ownership in its true form – right here!

In reality, what the Realtor is trying to show here, is just how great your house will look as people drive by. Think about how envious they will be that they couldn’t get your 1095 sqft house for $745,000 – but instead will have to pay $152 million when you sell it in 2037 – or if you’re lucky, 2014!

Only in California.

Comments (8) -- Posted by: burbed @ 5:38 am

November 11, 2007

Milpitas – #1 city with the most cars per house, population 50,000+

Top 101 cities with the most cars per house, population 50,000+

1. Milpitas, CA (housing, pop. 62,698): 16.9% 4 or more vehicles
2. Baldwin Park, CA (housing, pop. 75,837): 16.1% 4 or more vehicles
3. Lynwood, CA (housing, pop. 69,845): 14.2% 4 or more vehicles
4. Cerritos, CA (housing, pop. 51,488): 14.1% 4 or more vehicles
5. Union City, CA (housing, pop. 66,869): 14.0% 4 or more vehicles
6. Enumclaw Plateau, WA (housing, pop. 53,853): 13.6% 4 or more vehicles
7. Chino, CA (housing, pop. 67,168): 13.5% 4 or more vehicles
8. Santa Ana, CA (housing, pop. 337,977): 13.4% 4 or more vehicles
9. West Jordan, UT (housing, pop. 68,336): 13.3% 4 or more vehicles
10. South Davis, UT (housing, pop. 89,128): 13.1% 4 or more vehicles

Thanks to Burbed reader Jeff for this find.

All Bay Area cities are special – even if they’re borderline Bay Area. Congrats to Milpitas for being #1!

It was a lot of work I’m sure, but this was well worth it.

Comments (8) -- Posted by: burbed @ 5:36 am

November 10, 2007

How to cut your mortgage payment in half in San Jose

San Jose Mercury News – City extends ‘granny unit’ program for residents building in back yards
Homeowners looking to build in-law or “granny” units in their back yards will have more opportunities, as the city council has decided to extend a pilot program that allows secondary units to be built.

The city will accept applications for backyard units until April 30 or until 100 have been filed. About 73 units have been requested so far. City building officials are preparing a report on the granny-unit program due in March or April so the council can craft a permanent law.

Councilwoman Nora Campos pushed the city’s director of planning and building for a full report.

“This is something that we need to get our arms around,” Campos told the council. “I still am hopeful that we’ll have a positive outcome on this.”

Rules on granny units have divided neighbors in the past few years, especially in Willow Glen, where most of the applications have been filed.

Some residents say the buildings invite parking problems on smaller, older streets, while others say they should have the right to improve their property. On streets where granny units have been built, some neighbors say they have not noticed much change.

Joe Horwedel, the city’s director of planning, building and code enforcement, said many secondary units have been used as clubhouses or bedrooms for children, rather than for relatives or renters.

Thanks to Burbed Reader Mike for this find.

This is fantastic! Everyone in America dreams of being a homeowner – and now you can reach that dream, and the dream of being a landlord in San Jose!

Not only that, but when you convert your backyard into a condocomplex for your inlaws, you reduce the need to water the lawn! Very Green, Very Progressive, Very Silicon Valley.

So go! Right now! Go buy a house in San Jose before the secret is out! Once every one knows you can build a house in your backyard and get rental income, house prices will double because of the amazing affordability.

Talk about game changing!

Comments (5) -- Posted by: burbed @ 5:00 am

November 9, 2007

San Mateo Median Price Hits Record High – UNSTOPPABLE

Inside Bay Area – Countywide, median price of homes hits record high
Sales of single-family homes in San Mateo County plummeted in October, falling 32 percent as the housing slump deepened on the Peninsula, according to a new report.Despite weak sales, the median price of a home countywide hit a new record high: $1,026,282, according to the County Association of Realtors.Real estate agents cautioned that the soaring median price does not reflect growing home appreciation across the county. It’s more a product of solid sales of high-priced homes, which skews the median price upward.

Even though sales are down, prices are actually holding up in a lot of places,” said Marianne Rush, manager of the Redwood City and San Carlos office of Coldwell Banker. “There’s still money out there to buy.

Yes! Yes! Yes!

San Mateo is unstoppable! What this means is that if you bought a house last month, you’d be rich today!

Sales of luxury homes priced at more than $2.5 million are strong in the county. In the third quarter, sales of luxury homes jumped 35 percent countywide compared to the same quarter of 2006, according to Alain Pinel Realtors in a survey of its own sales.

But median prices slipped by 10 percent or more compared to October 2006 in many working-class neighborhoods of the North County cities and East Palo Alto. These are areas where subprime loans were prevalent.

But of course $2.5 million dollar house sales are strong. Let’s look at the reasons:

  • AAPL stock expected to hit $500
  • GOOG stock expected to hit $2000
  • VMW stock expected to hit $300
  • US Dollar all time low – millions billions of people flush with cash in People’s Republic of China, India, and Europe are dying to buy properties in prestigious and world famous Atherton, Redwood City, San Carlos, Belmont, and Millbrae. Easy access to SFO is an incredible draw.
  • Economy is doing great. Have you been to Santana Row lately? Spagos? Good luck getting a parking spot or a table.
  • Interest rates fell – that means they’re going to fall even further! Buy now and you can keep refi’ing as the interest rates heads towards 0%!

Now more than ever is a great time to buy or sell a home.

Comments (18) -- Posted by: burbed @ 1:43 pm

Drive by (photo) shooting of the day

MLS-2.com: Property Details
1577 TERILYN, SAN JOSE,CA,95122 – $474,9001577t.jpg

Total 2 photos: Previous Next

3 Beds 960 Sq.Ft. Aprx. Garage – Converted MLS#: 756064
1.0 Baths 4,791 Lot Size 48 Yrs Old Aprx. List Date: 2007-10-05

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

Description – 1577 TERILYN, SAN JOSE,CA,95122
MOVE IN CONDITION

If there’s one thing I like more than garages with windows, it’s drive by (photo) shootings. This is another great example.

Move in today! It’s ready for you! Just ignore the fact that the Realtor taking this photo chose this photo as the main one.

Oh wait… there’s another photo! Maybe that will enlighten us on the condition of the house! Let’s take a look, shall we…

1577ta.jpg

Oh. Right. Of course! It’s taken from the neighbor’s property. Well at least we get a good shot of where the garage is. It’s a nice barricade from the street in case there’s a real drive by shooting I suppose.

Comments (3) -- Posted by: burbed @ 5:48 am

November 8, 2007

A slimmed down house in Fremont

This Well-Cared for Spacious Beauty with Huge Lot…REDUCED!
5137 Glacier Park Ct, Fremont, CA
REDUCED!!! A Big 4 Bdrm, 2 Bath, Remodeled Kitchen, Large Living Room, Family Room with Fireplace, Great Big Lot!
4 Bdrm Single Family House

offered at $674,950
Year Built 1962
Sq Footage 1,736
Bedrooms 4
Bathrooms 2 full, 0 partial
Floors 1
Parking 2 Car garage
Lot Size 8,453 sqft
HOA/Maint $0 per month

Burbed reader Cynthia asks:

Seriously where’s the middle? Am I missing something?  Where is the house cut in 1/2?

Well Cynthia – as you know, the Bay Area has the world’s most perfect weather. It’s fact.

Thus, you don’t really need the other half of this house. In fact, it’s actually a time saver because there’s less house to clean – that means you have more time to spend at work on your multi-trillion dollar startup, or sit in traffic in Fremont, or whatever.

Win-win if you ask me!

Comments (9) -- Posted by: burbed @ 5:00 am