February 29, 2008

Lowest price home ever in Menlo Park – OMG

MLS-2.com: Property Details
1154 CARLTON AV, Menlo Park,CA,94025 – $387,500

1154carlton.jpg3 Beds 890 Sq.Ft. Aprx. 1 Car Garage MLS#: 760479
1.0 Baths 6,000 Lot Size 52 Yrs Old Aprx. List Date: 2007-10-31

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

Description – 1154 CARLTON AV, Menlo Park,CA,94025
HUGE POTENTIAL IN THIS RANCH HOME LOCATED ON A TREE LINED STREET. PERFECT HOME FOR A CONTRACTOR/INVESTOR. HOME FEATURES A COVERED PATIO, LARGE FENCED FRONT YARD, EXTRA STORAGE, SPACIOUS REAR YARD AND TILE FLOORS IN THE KITCHEN.

Just like February 29ths don’t happen all that often, neither are homes in Menlo Park under $400k!

WOW. WOW. WOW. Let’s see another picture:

1154carltonb.jpg

Wow! It even has an outdoor… uh… yeah. Well, um… yeah.

I’m speechless. What caption would you give this picture?

In any case, this is the deal of the century. If you’re not putting in your bid right now, I don’t know what you’re doing. Add in a little sweat equity (you picked up skills from volunteering at Habitat for Humanity right?) and boom! Instant Prime Menlo Park $900k home.

Go for it today!

Comments (14) -- Posted by: burbed @ 5:14 am






February 28, 2008

“BEST BUY EVER!!Do Not Wait! This Incredible Home Condition” in Cupertino

Reports
MLS: 76913018840news.jpg

Property Overview
18840 NEWSOM AV
Cupertino (Cupertino) 95014
Detached Single Family (Class 1)
Bed/Bath: 3 / 2
SqFt: 1,249
Lot: 6,098 sq ft
Age: 53 years
List Price: $850,000
Assoc Fee:
Remarks
BEST BUY EVER!!Do Not Wait! This Incredible Home Condition with 3 Bed. 2 Bath House is Waiting for a New Excited Owner Situated in Cupertino on a quite street and great schools Highly Motivated Seller!!! offers to be presented as they come in.

Another day, another amazing listing in Cupertino. This Incredible Home Condition is on a quite street – amen to that!

Let’s take a look at this amazing condition shall we?

18840newsa.jpg

Wow… gotta love that backyard. Nothing says pride of ownership like that!

Well, better put your bid in soon – after all, they’re being presented to the owner as fast as possible. It’s like sudden death overtime in the NFL – do you want to be a winner, or a loser?

Comments (15) -- Posted by: burbed @ 5:09 am

February 27, 2008

Shea Homes hates the Real Bay Area – economic terrorists

Shea Homes halts development in Santa Clara, Mountain View – Silicon Valley / San Jose Business Journal:
Shea purchased both sites about two years ago when condo sales were still strong and the local economy was generating jobs.Shea’s project manager for the developments could not be reached but a message on the company’s Web site states there is a “temporary construction hold” on the projects. It cites current market conditions as the reason the developer has decided to hold off on any further development.

Are they f’ing kidding me? The local economy isn’t generating jobs? Hello, Apple/Google/Facebook are still hiring like crazy. Even Yahoo is hiring (srsly). Most of the In-n-out’s are hiring too.

I don’t know what evil nefarious agenda Shea Homes has, but clearly they hate the Real Bay Area and are acting as economic terrorists. A cynic would have to wonder if they’re doing this to get concessions from the City of Mountain View.

A non-strong local economy. A local economy that isn’t generating jobs. Pfh. Shea Homes is probably just jealous that they’re not a Web 2.0 company, or one focused on Mobile GPS UGC SOA. Haters.

That said, they are doing the right thing. Do we really need more homes in Mountain View? If anything, they should be tearing down homes. They should be taxing renters to buy out existing homeowners, and tear those houses down. Do we really want Mountain View to be Condo View? Good grief.

Thanks to Burbed reader Pralay for the find.

Comments (39) -- Posted by: burbed @ 3:28 pm

“Million dallars homes all around” – well maintained and great for tearing down!

MLS-2.com: Property Details
10370 CALVERT, CUPERTINO,CA,95014 – $799,888

10370.jpg3 Beds 1078 Sq.Ft. Aprx. 1 Car Carport MLS#: 754350
2.0 Baths 5,586 Lot Size 55 Yrs Old Aprx. List Date: 2007-09-27

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

Description – 10370 CALVERT, CUPERTINO,CA,95014
Looking for a Diamond in the rough * Cupertino Schools district * Million dallars homes all around * Price includes Plan for one story home approx.2600 sq.ft.* Excellent opportunity for first home buyer,for investor or contractor * Well maintained home * Enclosed utility room in the back * As-is Sale * Escrow ; First Amererican Title #2904366 * Call agent 650-269-4211 regarding for the offer.

Wow… this house is great for contractors and investors – and it’s well maintained! One could say that’s impossible, or that’s ironic, but then one wouldn’t know how special Cupertino is.

Cupertino – expect the contradictions!

Let’s see what else… oooh, the area is full of million “dallar” houses! Sweet! That means this house is a million too! Can you say instant equity? Plus, the price ends with 888! That means the house has luck and is sure to appreciate.

Finally, it’s got excellent feng shui – look at how you can see straight through the house to the backyard from the front. If this isn’t worth a million dallars, I don’t know what is.

Comments (12) -- Posted by: burbed @ 5:00 am

February 26, 2008

Deer for sale in Belmont!

Reports
2325 HASTINGS DR, Belmont 94002 (Belmont)
$1,029,888 Beds: 3 bed(s) Baths: 2 1/2 bath(s) MLS: 7561092325hastings.jpg

Property Overview
2325 HASTINGS DR
Belmont (Belmont) 94002
Attached Single Family (Class 1)
Bed/Bath: 3 / 2 1/2
SqFt: 2,210
Lot: 3,232 sq ft
Age: 31 years
List Price: $1,029,888
Assoc Fee:
Great Belmont Hills Neighborhood * Bargain Priced $230,000 Below Last Sale of Same Model Type on Same Bay and City Lights View Side of Street
This is a beautiful view home with bay, city lights, canyon and mountain views. Lovers of nature will enjoy the daily deer sightings just off the spacious back deck or from the private balcony of the huge master suite. This is a fantastic neighborhood with a little tike park located just up the street from the home. The current schools are the finest in Belmont with 2006 API Test Scores of 915 for Fox Elementary, 858 for Ralston Intermediate and 791 for Carlmont High School. This compares favorably with the statewide average of 721 and the San Carlos Elementary School District’s 873 average. This luxurious home has just been painted and also has new carpet to go along with the hardwood floors. Customize the home by changing out the original appliances in the kitchen. The yardwork is minimal aside from mowing the front lawn. A private enclosed courtyard is ideal for a fountain, garden, child’s play or pets and the backyard is nearly maintenance-free. This home is priced $230,000 less than the last sale price (September, 2007) of $1,260,000 for the same model home type on the same side of the street in pristine shape. This is an opportunity to create well over $100,000 of instant equity in your new home. Call Robert today to take advantage of this special opportunity.

Burbed reader Edward sent this in… apparently he feels that I give too much love to Redwood City and San Jose. I suppose so.

In particular, Edward was amazed that you could buy 3 deer for $1 million – he forgets that they’re very special deer. Probably the most open minded, Web 2.0 savvy deer there is.

Personally, I’m a bit surprised at the ad: look at that instant equity! How can any one resist. Buy it, refi it, and boom – suddenly you’ve got enough money to invest in assets like a nice car to go with your new millionaire status!

How can any one resist!

Thanks Edward!

Comments (14) -- Posted by: burbed @ 5:56 am

February 25, 2008

Rent or Buy: The saga of 2164 Poplar Ave continues…

Thanks to Burbed reader Sourav for this find:

Very Clean – Beautifluly Remodled Home ++Pics++
1200 / 2br – Very Clean – Beautifluly Remodled Home Pics (east palo alto)

poplarrent.jpg

2164 Poplar Ave, East Palo Alto

This Bungalow style home is located in East Palo Alto. This cozy home is conveniently located near shopping and transportation and the trendy University Avenue area.

The home has 2 bedroom and 1 Bathroom. The House also has been fully remodeled with new paint, granite counter tops, and a large front yard patio.
• Pets are negotiable. • Lease negotiable • AVAILABLE NOW • Security Deposit $1200.00 Please Drive by unit and take a look. If you have any questions please feel free to call 650 270 6869 or 650 344 4066 or just reply to this add.

Hey that seems familiar! Let’s take a stroll down memory lane!

February 2006:

July 2006:

Now:

2164pop.jpg

Now:

2164poplarmore.jpg

Hm… let’s say you put down 10% – thus your 30 year mortgage would be $2181.76 alone. But yet rent is $1300 a month.

Where does that $881.76 a month go? I’m terribly confused – can someone help explain?

Comments (15) -- Posted by: burbed @ 5:44 am

February 24, 2008

What will you do when house prices double in the Real Bay Area?

I was thinking of this comment from the other day:

Proof that Palo Alto is prime: $1204 per square foot. [Burbed.com]
Real Estater Says:

My answer is: Who cares where prices will be in 2011? All you need to know is that prices will double in about 10 years.

Don’t invest in those other places outside of the Bay Area. There’s no cool jobs, no smart people, no diversity, no ramen noodles, no Pho’, therefore, no doubling in price every 10 years.

No doubt it’s special in the Bay Area, especially Palo Alto – so let’s think about what would happen if house prices doubled in 10 years. Let’s assume that a nice starter home in Palo Alto costs about $1 million, and that a typical engineer in Palo Alto makes $150,000.

We’ll have to assume a 7.2% YoY appreciation for homes to reach doubling, and let’s assume that the engineer gets a 5% YoY raise:

doubling.png

Hm, if this happens, the price/income ratio is a mere 6.x today, but would increase to 8.2x in 2018.

Now, a few things could change… raises could soar, stock options could soar, and obviously the assumption that there is 7% YoY appreciation is low -so that will soar.

Can you afford the risk of being priced out forever?

Comments (23) -- Posted by: burbed @ 5:51 am

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Comments (2) -- Posted by: burbed @ 4:58 am

February 23, 2008

San Francisco median homes need an annual income of $196,878

Stimulus Plan Aids Buyers of High-Priced Homes – New York Times
Prices are still high; the California Budget Project, a public policy advocacy group, estimated that a family would need an annual income of $196,878 to afford the median-priced home in San Francisco.

Excellent. I know that some whiny people are trying to spin this as a bad thing – but frankly, I don’t see how that could be. The higher the number the better!

Personally, I hope to see this go to $250,000 next year… and $300,000 by end of 2011. Then finally the Bay Area has a chance of beating our #1 competitor: Manhattan!

Let’s focus! Quick! Everyone to their 0 down, option arm battle stations!

We’re already on track by some benchmarks:

We’ve already crushed Long Island and Honolulu and most of SoCal – all fake expensive places to live. I wish the NY Times would’ve broken out Manhattan separately so we could see the target, instead of hiding it with the Bronx, Queens, and Hoboken.

We’re getting closer…

Comments (4) -- Posted by: burbed @ 3:46 pm

Good news: Midwage jobs vanish in Silicon Valley

Report: Midwage jobs vanish in Silicon Valley
For the first time, this report documents an alarming fact: The middle fell out of the region’s payroll between 2002 and 2006.

Federal and state jobs data show that 62,050 midwage jobs – defined as having salaries between $30,000 and $80,000 – vanished during that four-year period, according to the report.

During the same four years, employers added 66,200 jobs that paid less than $30,000. And despite bullish times for the likes of Google and Apple, Silicon Valley employers added just 16,790 jobs during that period that paid more than $80,000.

“We have indeed documented a squeeze on the middle. Now we have to figure out what it means and what to do about it,” said Russell Hancock, president of Joint Venture: Silicon Valley Network, the public-private partnership group that has been issuing such reports since 1995.

I’m sure some losers will bemoan this situation. Boo hoo – middle class jobs are disappearing.

But actually, this is a good thing – for homeowners. As more middle class jobs disappear, that means the population mix will include more people earning good $100k salaries – and that means they can afford to pay more for houses.

Or more simply: less middle class jobs = more rich people = increased housing prices. Can you say: Manhattan?

And, this works on the bottom end too: less middle class jobs = more low wage people = more renters = more rental income for homeowners.

Either way, this is great news and it’s a great time to buy a home in Silicon Valley.

If we all work together, we can make 2009 the year we beat Manhattan in housing prices. Let’s pull together and make it happen!

Comments (13) -- Posted by: burbed @ 5:12 am