January 31, 2008

$1.25 million house in Redwood City – with revenue opportunities

On Monday, we showed you what a $1.295 million dollar house looks like in Greenwich, CT where the income regularly tops $500k. Let’s look a house in that price range here in the Bay Area:

MLS-2.com: Property Details
153 LOWELL ST, Redwood City,CA,94062 – $1,250,000

153low.jpg3 Beds 1584 Sq.Ft. Aprx. 2 Car Garage MLS#: 770296
2.0 Baths 6,500 Lot Size 68 Yrs Old Aprx. List Date: 2008-01-07

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

Description – 153 LOWELL ST, Redwood City,CA,94062
Situated in the sought after Mt. Carmel neighborhood, this delightful home has been practically updated maintaining its original, intrinsic charm. Beautiful oak hardwood floors enhance the home throughout. There is an additional, separate studio guest unit with a full bath and kitchenette.

Yeah you could have the house in Greenwich, but in true Silicon Valley entrepreneurial style, this house offers you the opportunity to increase you revenue and monetize part of the property.

That’s an enormous benefit right there – you can live in your house, and make money from your tenants! Will that be possible in Greenwich, CT? Of course not – they’re all boring there. Buying this house will prove that you’ve got the chops to achieve the American dream of making money, unlike… say… your potential neighbor Eddie Lampert.

And above it all, you’re living in Redwood City. Wow… another drubbing for Greenwich, CT. Sweet!

Comments (9) -- Posted by: burbed @ 5:39 am

9 Responses to “$1.25 million house in Redwood City – with revenue opportunities”

  1. Motivated Reader Says:

    You could rent to some Messy Cans. Why not? Are you prejudiced or something? If you cannot find any locals go to Mountain View. Plenty of them there. Make sure ID valid -oops you cannot ask that legally in Silly CON valey, can you? LOL suckers. Buy BUY, bye BYE!

    Viva El Presidente Jorge Bushco! Code Pink Forever!

    Diversity Rules! Al Sharpton for President!

  2. Tim Judge Says:

    “Will that be possible in Greenwich, CT? Of course not – they’re all boring there.”

    I think you should back off the Greenwich thing! There are not to many boring people here, and 1.25 is a starter home here. The average home in Greenwich CT in 2007 was $2,973,201. I don’t want to name names but the we have quite a few Hollywood types in town, as well as the largest concentration of hedge funds in the world. So follow the money and you’ll find some very interesting and intelligent people living in Greenwich CT. Next time your on the right coast look me up and I’ll show you around.

    Tim

  3. JayDawg Says:

    Earth to Tim: If you want to convince the world that people in Greenwich are not intelligent and interesting, Hollywood types and hedge funds aren’t your best line of reasoning.

    Just sayin’

  4. burbed Says:

    Actually the median in Greenwich is just $1.9 mil.

    http://money.cnn.com/magazines/moneymag/bplive/2007/snapshots/CS0933620.html

    I think you’re missing my point though. If a $1.3 million dollar house in Greenwich is huge and nice, compared to $1.3 million dollar houses in the Bay Area which are run down and cruddy – what does that say about Greenwich compared to the Real Bay Area?

  5. ex-sunnyvale-renter Says:

    I was going to say, Fill the yard with trailers and rent ’em out, yeah, that’s a good idea on the Messy Cans, just charge each Messy Can $200 a month rent/mordida, and you can pay this overprices hunk a junk off in no time*

    *where no time = what, 50 years or so? Or until the next really good quake.

  6. sonarrat Says:

    I think the real news is that East Coasters consider a 3,000 square foot home a “starter.” WOW!

  7. sg Says:

    I know this must has been discussed before. But will ask the same question again.

    Since the housing bubble is a nationwide phenomenon, why is it so much more inflated in the bay area (w.r.t. median salaries)? Is it the culture, or Prop 13?

  8. burbed Says:

    It’s actually a lot worse in SoCal

  9. sg Says:

    8. burbed Says:
    January 31st, 2008 at 5:48 pm

    It’s actually a lot worse in SoCal

    Well, that is arguable :). Of course, prop 13 is applicable there too.


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