November 7, 2007

This house requires a specific title company

Reports
MLS: 730681

Property Overview
2726 BLENHEIM AV
Redwood City (Redwood City) 94063
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 590
Lot: 4,500 sq ft
Age: –
List Price: $629,000
Assoc Fee:
Remarks
Totally remodeled kitchen & bath. House has addt 1 br. & 1 ba. “unwarranted” in garage area, bonus room, laundry room, parking. Freshly painted inside. zoned R3-please use Chicago Title-(Ruthe Smith) San Carlos

So you’re paying the Realtor 3%-6% to sell your house. So does it make sense to you that your Realtor is using the previous advertising space to promote Chicago Title?

How does this help you as a seller?

How does this help me as a buyer?

Comments (20) -- Posted by: burbed @ 5:00 am






November 6, 2007

“GREAT FOR BIG FAMILY OR INVESTOR” in Redwood City

Reports
MLS: 739922 Property Overview
303 REDWOOD AV
Redwood City (Redwood City) 94061
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 790
Lot: 4,500 sq ft
Age: –
List Price: $725,000
Assoc Fee:
Remarks
GREAT HOME WEST EL CAMINO.GREAT FOR BIG FAMILY OR INVESTOR.GREAT LOACATION. TWO BEDROOMS ONE BATH WAS ADDED MANY YEARS AGO.PERMITS ARE UNKNOWN. SELLER RESERVE THE RIGHT TO REFUSE ANY OFFER. AS-IS SALE.SHOW IT AND SELL IT.

So… did this GREAT FOR BIG FAMILY house previously have ZERO bedrooms and ZERO baths?

In any case, how is a house great for a big family or investor? Isn’t that kind of strange?

And why does it look like they simply glued a trailer to the house?

Comments (8) -- Posted by: burbed @ 5:00 am

November 5, 2007

Goldman Sachs hates California housing prices.

Scarcity, cost of jumbo mortgages portend big home-price drops – MarketWatch
In the first six months of the year, 31% of all homes purchased in California had an interest-only payment option loan compared with 9% nationally, according to First America. For loans in California that weren’t prime conforming, 57% had an interest-only feature, and 9% were negatively amortizing.

Now, any loan with an “affordability product,” whether it’s to a prime or subprime borrower, isn’t getting written.

In a recent research note, analysts at Goldman Sachs said they believed these loans pushed California home prices to levels 35% to 40% higher than justified by other fundamentals. “We expect home prices to return to normalized levels,” wrote James Fotheringham and his colleagues at Goldman.

If Goldman is right, the typical home-owning household in California has about $200,000 less in home equity than it thought it had. Instead of living in a home that’s worth $589,000, it’s probably worth $380,000.
Nationally, Baker figures that “I don’t see how you can talk about trillions of dollars of wealth evaporating without any impact on the economy,” Baker said.

In a word: haterz

That’s right. Goldman Sachs is full of haterz who can’t stand the fact that California is so awesome compared to where they live that’s not awesome.

Trash talk all you want, but we be the Golden State BIOTCH!

Comments (13) -- Posted by: burbed @ 7:16 pm

What kind of windows to use when you run out of money

Reports
MLS: 718096

Property Overview
1319 BRANHAM LN
SAN JOSE (San Jose) 95118
Detached Single Family (Class 1)
Bed/Bath: 4 / 3 1/2
SqFt: 2,600
Lot: 1 to 4,500 SqFt
Age: –
List Price: $980,000
Assoc Fee:
Remarks
Come view Cherry Glen brand new beautiful home situated in Cambrian Area. Be the first to live in one of our Cherry Glen Homes. Buyer to pick ctr-top&floor covering. Model home open weekend 12:00-5:00. go direct lockbox on the door.

Am I the only person who is really perturbed by the windows in this new house? Is it just me or is the wall to window ratio really strange?

It’s as if the contractor started building the house, but then ran out of money so they had to scrimp on windows.

But then again, this is more energy efficient I guess! Eco friendly! Sweet!

What do you think?

Comments (22) -- Posted by: burbed @ 5:00 am

November 3, 2007

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Comments (1) -- Posted by: burbed @ 5:44 am

November 2, 2007

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

Exodus from N.J. grows
“New Jersey’s become a very, very, extraordinarily expensive place to live,” said James W. Hughes, dean of Rutgers’ Bloustein School of Planning and Public Policy and co-author of the report.

What? New Jersey is very, very, extraordinarily expensive? Are you trying to say that it’s special? Possibly even more special than the Bay Area?

Sounds like a challenge to me! Prepare to meet your doom Dean Hughes.

First, let’s look at yesterday’s featured Bay Area house – located in the prestigious Senter Road area.

Now, let’s look at a place in New Jersey. And then we’ll see who wins! I’ve picked Tenafly. Ok, let’s look at a similarly priced house there:

Hah! Take that New Jersey! You’re not more expensive, and thus you’re not more special! 4/1.5 for $649,000 – what is this? Walmart?

And look at the facts about Tenalfy: it has the 2nd best public high school in New Jersey – and was awarded a Blue Ribbon by the US Department of Education. It’s home to several New York Yankees. And yet this house is so cheap.

What does that say about you Tenafly – that’s right, it says you suck.

If you didn’t suck, if you were desirable at all, you wouldn’t be just $649,000 for a 4/1.5br. You’d be $679,000 with a 3/2.5 and converted garage.

At the end of the day though, let’s face it – how could Tenafly compete with San Jose?

  • Sure Tenafly is just 18.5 miles to Downtown Manhattan, but it’s 2941 miles to Google in Mountain View. Can’t compete there.
  • This San Jose house is near a shopping “senter”- this Tenafly house is near… nothing.
  • Tenafly has a crime index of 46.6, San Jose has 247.1. That means it’s BORINGSVILLE there. Might as well live in Iowa.
  • Tenafly has a median income of $99,500. San Jose has $70,921. That means everyone is snobby and pretentious there – they’re not keeping it real like San Jose people.
  • 93%+ of Tenafly’s population graduated from high school. 78.3% in San Jose. Did I mention that everyone there’s snobby and pretentious?

If these data points don’t convince you, I’m not sure what does: San Jose is truly the most expensive place to live, and therefore it’s more special and better. New Jersey has nothing on us.

Heck, they’re probably still making land in Tenafly, New Jersey.

Comments (43) -- Posted by: burbed @ 5:00 am

November 1, 2007

Did you ever want a drive through window for your house?

Reports
MLS: 717700Property Overview
155 SENTER RD
San Jose (San Jose) 95111
Detached Single Family (Class 1)
Bed/Bath: 3 / 2 1/2
SqFt: 1,800
Lot: 4,791 sq ft
Age: –
List Price: $670,000
Assoc Fee:
Remarks
PERFECT FOR FIRST TIME BUYERS. GARAGE CONVERTED WHIT PERMIT. PLUS THIS HOUSE HAS 2 LIVING ROOMS NEAR TO SHOPPING SENTERS ON MONTERREY RD.

Indeed this is very perfect for a first time buyer. It’s even got a whit permit – those are rare.

Here’s what I would do – I’d move the kitchen into the former garage. That way during the day, I could hang a sign outside that says “Hot Lunches!”. You could cook hamburgers, burritos, teriyaki, shawarmas – whatever! Or go for a different menu and serve hot dogs, chicken bakes, pizzas, churros, and chicken salads (coughcoughCostcocoughcough). And then people could drive right up, order, pay and get their food!

Now that’s a fantastic biz opp! And just think about how that will help you pay off your mortgage faster!

Win win if you ask me.

Comments (12) -- Posted by: burbed @ 6:00 am