$995,000 for a church in Belmont
Reports
MLS: 781306
Property Overview
3209 LONGFELLOW DR
Belmont (Belmont) 94002
Detached Single Family (Class 1)
Bed/Bath: 2 / 2
SqFt:
Lot: –
Age: –
List Price: $995,000
Assoc Fee:
Remarks
Property was built as church and is still, currently used as a church. Some remodeling needed to convert to a residence. Structure size est. 3000 . Sanctuary has high ceilings. Parking lot for 17 cars provides plenty of room to add a garage.
Wow… now this is pretty unusual. It’s not every day that you can buy a church - especially one that has room for 17 cars.
Just think of the partying opportunities this would provide! Here are some more photos:
Wow… the imagination simply runs wild! What would you do with this amazing property (that wouldn’t ban you to Hell)?
April 18th, 2008 at 6:17 am
I love the comment about some remodeling needed to convert to a residence.
April 18th, 2008 at 7:44 am
I would totally buy it. After all, who hasn’t wanted to start their own polygamist cult?
April 18th, 2008 at 7:56 am
Burb, have to say this is the best house that I’ve ever seen on your site, even though it is a church and remodeling needed (wouldn’t cost too much if there is no structural problems).
All of the houses you posted need remodelling, at least this is not a shack and is well maintained.
April 18th, 2008 at 7:58 am
Thus sayeth the Lord, “Wheneth thy property hast reached the top of the mountain you must flippith the property for a profit of at least two donkeys or $1 million shekkals or be cast into the fiery pits of hell.” Flippians 4:12
April 18th, 2008 at 8:44 am
This reminds me of Alice’s Restaurant. If you take out all the pews, you wouldn’t have to clean out your garbage for a long time!
April 18th, 2008 at 9:01 am
Only $331 a square foot, too!
April 18th, 2008 at 10:29 am
Dude!!! The actual Church part would be great to turn into a theater. Already have the seats setup. All you need is a good LCD projector and a THX surround system. Hahhahaha.
April 18th, 2008 at 11:00 am
Only needs a 50% haircut to make sense, set up as a church and pay no taxes, then rent it out the other 6 days of the week for parties, meetings, raves, Ectasy orgies.
April 18th, 2008 at 11:07 am
Wow, that’s a good find. I wonder how large the lot is. We just found a huge 10k lot near Burlingame Ave. that has been reduced in price to about 1 million. Mostly land surrounded by apts. I wonder how much it would cost to build some in-laws and just rent out the whole place. It’s close to Burlingame Ave and downtown San Mateo. Prices are looking better and better almost every week. It makes me wonder where prices will be in a year from now. We found a pretty crappy place in San Mateo for 2/1 on 5750 sq ft lot for 679k. I’m sure we can negotiate down to 620k. That’s not that bad.
On another note:
http://www.mercurynews.com/ci_8969520
April 18th, 2008 at 11:16 am
Well, looks like California is already in a recession:
http://www.mercurynews.com/breakingnews/ci_8973312
I wonder what the un-employment rate in the Bay Area is. Jobs is the biggest factor in maintaining home prices. If that starts to go…
April 18th, 2008 at 11:24 am
Too bad i’m buddhist, if this house were a buddhist temple, i would purchase it immediately. Great deal but sorry God.
April 18th, 2008 at 1:57 pm
MSG,
As I brought up before, the tech industry is doing well:
>>There was more good news from the information industry. March was the 49th month of consecutive increases on a year over basis in the information sector, which has added 1,600 jobs in a year.
>>Software publishers also are continuing to do well. Professional and business services are up year over year by about 700 jobs.
April 18th, 2008 at 2:05 pm
Does anyone know if there are any tax benefits with buying a foreclosure?
April 18th, 2008 at 2:30 pm
Actually it can cause more tax problems if it has a lien that the bank dishonestly left unpaid, but that’s very rare and a title search will catch that.
April 18th, 2008 at 2:39 pm
Yeah that is a pretty good deal for Belmont. I guess you have to kick out the parishioners when it sells, though. The lot looks pretty big according to the area map:
http://www.redfin.com/stingray/do/printable-listing?listing-id=1519144
April 18th, 2008 at 3:24 pm
According to out real estate expert ANY news is good news for RBA.
Jobs is being cut and outsourced? That’s global competitiveness and more money to management people in RBA. Hence good for RBA housing market.
http://tinyurl.com/663f4u
1600 jobs added? More job growth. Hence good for RBA housing market.
April 18th, 2008 at 3:37 pm
Wow… the imagination simply runs wild! What would you do with this amazing property (that wouldn’t ban you to Hell)?
——————-
And if you overbid, the money goes to God. He will be happy. Think about that.
Owning a home is not just about getting a place to live and get tax benefits, it’s about making your God happy and get a pass heaven (of course not right now). Think about that.
April 18th, 2008 at 3:39 pm
Post #17 correction: …getting a pass for heaven….
April 18th, 2008 at 3:57 pm
You’re going to need God to hold up that housing market:
“Economist Christopher Thornberg said that prices falling across the coastal Bay Area is the last part of the housing bubble bursting. Unfortunately, that area has been most resistant to the idea that their values may drop.”
“‘It’s not only Marin and San Mateo counties having this illusion that it won’t happen to them, it’s also Newport Beach,’ Thornberg said.”
“Instead, Thornberg said that the first signs of the housing bubble started in inland areas and are slowly moving outwards to the Pacific. ‘You can’t have plummeting prices in San Joaquin and East Contra Costa counties that don’t affect Western Contra Costa and Alameda counties,’ he said. ‘And you can’t have plummeting prices in Alameda and Contra Costa counties that don’t affect San Mateo and Marin.’”
“Foreclosures have become a larger part of the market in the Bay Area, making up 76.2 percent of home sales in San Joaquin County, 49.7 percent in Solano, 26.1 percent in Alameda and 12.3 percent in San Mateo.”
April 18th, 2008 at 4:07 pm
^^ Amen to that, brother! Prices are definitely decreasing in Burlingame and San Mateo. We just saw another house in the Easton area–highly desireable–come down 60k since 3 weeks ago. We should keep a record of all these price drops and post them on here with MLS #’s.
April 18th, 2008 at 4:12 pm
We just saw another house in the Easton area–highly desireable–come down 60k since 3 weeks ago.
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60K drop in 3 weeks! That’s is definitely NOT “highly desirable” (in fact not even “desirable”), hence not part of RBA.
April 18th, 2008 at 4:14 pm
> Does anyone know if there are any tax benefits with buying a foreclosure?
Senate has passed a law, that provides $7000 tax breaks to a buyer of a new or a foreclosed home. However, Bush hasn’t approved it yet AFAIK. Anyway, the law is for the benefit of home builders and banks. It gives _nothing_ if you buy a home from a private seller.
April 18th, 2008 at 4:22 pm
Take a look at this video. RE’s brethren is standing on the street, asking people to buy homes. He claims Jacksonville is “special”.
Enjoy!
http://www.youtube.com/watch?v=bZXbZDbCze8
April 18th, 2008 at 4:31 pm
Lionel,
Get a clue. What happens in Contra Costa County has little to do with what happens in San Francisco or Peninsula. Different demographics, different geographics, different market all together. Those outlying areas are just not that “special”. They require long commute to get to the job centers, and there’s plenty of land out there.
What makes RBA unique is that it can’t be expanded, nor can it be duplicated. They can’t make another Pac Heights, or another Palo Alto, just as they can’t easily make another downtown San Francisco, or create another Stanford Univeristy.
April 18th, 2008 at 4:40 pm
Take a look at this video. RE’s brethren is standing on the street, asking people to buy homes. He claims Jacksonville is “special”.
———–
Funny! I loved the part:
Realtor: It’s good time to buy.
Guy in Car: But news says it’s not good time to buy.
Realtor: I know, that’s national news. They are telling about Chicago, NY. I would not buy anything there.
Hmmmm, it seems Jacksonville is as “special” as RBA. Jobs going up. Ports coming up in next four years.
April 18th, 2008 at 4:45 pm
Hmmmm, it seems only two places in US are hard to duplicate:
1. RBA
2. Jacksonville.
April 18th, 2008 at 4:46 pm
‘You can’t have plummeting prices in San Joaquin and East Contra Costa counties that don’t affect Western Contra Costa and Alameda counties,’ he said. ‘And you can’t have plummeting prices in Alameda and Contra Costa counties that don’t affect San Mateo and Marin.’”
———-
And some real estate experts simply don’t understand this part.
April 18th, 2008 at 5:02 pm
Pralay,
I know that’s sarcasm, but the price was originally 1.6 million. So, 60k isn’t that big of a drop. I’m just surprised that it did come down. My initial hunch was it would have sold, since it’s in the “highly desireable” area.
RE, that’s bullshit thinking. You could buy houses at a third of the price in East Palo Alto vs. Palo Alto proper, and the commute over is just a hop, skip and away from Stanford, or where ever. Same goes for San Mateo, Burlingame, or SF. What’s the price for a foreclosure in Daly City? 400k?? How about a place in SF? 1.5 mil? How far is it to commute from Daly City to SF? 15 minutes? Yeah, real long commutes there.
April 18th, 2008 at 5:19 pm
“Get a clue. What happens in Contra Costa County has little to do with what happens in San Francisco or Peninsula. Different demographics, different geographics, different market all together. Those outlying areas are just not that “special”. They require long commute to get to the job centers, and there’s plenty of land out there.”
It comes from Chris Thornburg, not me, you twit. Thornburg is one of a small handful of economists who has been dead-on with his predictions about the deflating bubble.
April 18th, 2008 at 5:26 pm
MSG,
Did I ever say commute is that only consideration? Pay attention. I mentioned two factors: demographics, and geographics. It’s should be obvious that EPA does not have the same demographics as PA. There are other factors involved as well. Taking a simple minded approach to real estate will make you a loser every time.
April 18th, 2008 at 5:29 pm
>>It comes from Chris Thornburg, not me, you twit. Thornburg is one of a small handful of economists who has been dead-on with his predictions about the deflating bubble.
If you don’t support his views, what was the reason for you to bring it out?
I’d be skeptical of those “dead on” economists. It’s like the stock analysts who predicted this and that. One of these days some of them will always be happen to be “dead on”.
April 18th, 2008 at 5:37 pm
Hey, everyone, I’m back! Did you notice that this church is not on the map I made of the Real Bay Area? Therefore it is not worth $995K. Also it’s going to cost big bucks to exorcise the bad spirits out. I do like the 17-car parking lot, though, and I bet that kitchen can handle a pretty big dinner party. Lots of pergo in the fellowship hall, too.
I forgot to mention the other sign of Spring Bounce I saw last week that I didn’t see last year - lots and lots and LOTS of open house signs in Cupertino west of De Anza. I mean LOTS of them.
April 18th, 2008 at 6:19 pm
It comes from Chris Thornburg, not me, you twit.
————
This Thornburg guy is simply not trustworthy. I would not trust this guy for a second. I would be very skeptical about what he says. Instead I would trust Realtors as I did always. After all they are the most trustworthy people in this world. And I love them too, as I mentioned previously.
April 18th, 2008 at 6:27 pm
I forgot to mention the other sign of Spring Bounce I saw last week that I didn’t see last year - lots and lots and LOTS of open house signs in Cupertino west of De Anza. I mean LOTS of them.
————–
Buy one of them before they are snapped up by others. Otherwise you will be “Priced Out Forever”. You know, IT industry added 1600 jobs and software publishing industry added 700 jobs. These newly employed guys are house-hungry and they are looking for houses everywhere in RBA with truckload of cash for downpayments.
April 18th, 2008 at 7:36 pm
Prices are just beginning to drop on the peninsula, it’ll be seen more and more over the next several months. I talk to realtors all the time and privately I haven spoken to a single one that doesn’t think prices are on their way down.
And RE, your statement that what happens in Contra Costa, Alameda, and Santa Clara counties is absurd. When the same house becomes 200k cheaper 30 minutes away, people move there and commute. Why do you think the outlying areas like Tracy, S. San Jose, etc. shot up in the first place? Because it got to expensive to buy in “RBA” places like mountain view, sunnyvale, etc. Being close to your job does command a premium, which is why “RBA” locations will always sell for more than outlying areas. However, when the premium becomes too high (like now), the area becomes less attractive and thus prices drop to their natural equilibrium. Basic supply and demand. How do we know what premium the “RBA” should command? History and fundamentals. Until both come back in line, peninsula prices will trend downward.
April 18th, 2008 at 7:43 pm
R, don’t feed the troll.
April 18th, 2008 at 8:05 pm
My bad.
April 18th, 2008 at 8:17 pm
>>Hey, everyone, I’m back! Did you notice that this church is not on the map I made of the Real Bay Area?
Pralay,
Is this the low IQ guy you were talking about?
April 18th, 2008 at 8:26 pm
No. it was you
April 18th, 2008 at 9:35 pm
^^^ Whoa… good one.
April 18th, 2008 at 10:59 pm
Is this the low IQ guy you were talking about?
————–
RealEstater,
Low IQ guy is one who does not understand the difference between joke and serious stuffs.
And this guy is so low IQ that he doesn’t get it even after someone else pointed it out.
Does this guy look familiar?
Hint: he lives in “management class” neighborhood with “smart” people.
April 19th, 2008 at 12:43 am
Test
April 19th, 2008 at 3:30 am
>>Low IQ guy is one who does not understand the difference between joke and serious stuffs.
Pralay,
Then you’ve got’em nailed. Guess who took it seriously enough to make his own map?
April 19th, 2008 at 3:33 am
>>Prices are just beginning to drop on the peninsula, it’ll be seen more and more over the next several months. I talk to realtors all the time and privately I haven spoken to a single one that doesn’t think prices are on their way down.
Except realtors don’t know anything. Better check with Pralay instead.
April 19th, 2008 at 9:12 am
Then you’ve got’em nailed. Guess who took it seriously enough to make his own map?
————
That map is not a serious one either. Of course I would not expect you to understand that either.
No matter how much you try to act smart, those posts make you look like a dumb. Ask anybody, even your wife/GF, if you have one at all.
I guess your only option is making Burbed deletes those posts.
April 19th, 2008 at 11:52 am
Whoa… let’s get civil again, folks.
April 19th, 2008 at 1:43 pm
Whoa… let’s get civil again, folks.
———————
Civil? What is that? I thought we are having fun (except the guy similar to “WILL WORK HARD FOR YOUR BUSINESS” Realtor, mentioned here, who thinks that “it is good time to buy home in “special” JacksonvilleRBA).
April 19th, 2008 at 1:47 pm
Oops, strikethru tag did not work.
I wanted to strike “Jacksonville”.
April 19th, 2008 at 5:27 pm
Pralay,
Please do tone down on the negative demeanors; it’s rather unacceptable here. I dont’ really get your accusations. I already told you I’m a tech guy, not a realtor. Let me know if you need any help with HTML.
Good times are indeed around the corner. Check out what KNBC/Smart Money says:
“Economic Recovery Already Underway”
“Look at the billions of dollars being earned by a company that didn’t even exist 10 years ago. I see that money tangibly because I live in Silicon Valley, where Google is headquartered. To me, it’s not just an earnings report. It’s thousands of high-paying jobs. It’s dozens of new buildings being erected all over the landscape here, to house their headlong growth.”
“There’s no real estate crisis here in Silicon Valley.”
http://www.smartmoney.com/aheadofthecurve/index.cfm?story=20080418-economic-recovery&nav=ibs&ibshatkey=la
I told you about this days ago, before the news article came out. Don’t be too quick to reject something. Give it a chance to sink in.
April 19th, 2008 at 10:56 pm
well I think its sad to see a church on sale. What happened to the congregation of this church? This should remain a church- dammit is nothing sacred?
April 19th, 2008 at 11:43 pm
1. Pot meets kettle. When RealEstater tries to say someone else as “low IQ” it is perfectly fine (post #38). When I do to him, it is “rather unacceptable”.
Well, if you love to throw mud at others, be prepared to get some too. Read your post #38 and #43. What kind of “tone” are you showing? If you want to continue like that, you are welcome to keep it up. But it’s rather cry-baby attitude to complain in the middle.
2. Atleast the Jacksonville guy is more honest. He is not telling people that he is a “hitech guy”.
3. I would not need any HTML help from a guy who haven’t shown any HMTL skill in his comments.
April 19th, 2008 at 11:50 pm
Good times are indeed around the corner. Check out what KNBC/Smart Money says:
———–
Well, that’s Donald Luskin! We know little bit about his MetaMarket gimmick in dot-com bubble period. And about this SmartMoney article, all you need to do is to read all the comments below the article.
April 19th, 2008 at 11:59 pm
RealEstater,
I guess most of the readers here work in hitech industry . The last thing we want is decline of hitech industry in this valley. But we are under no delusion that things going great in Sillicon Valley. Living in denial does not help. No matter what you and Donald Luskin claim, it does not change the ground reality. It only sounds very similar to the “will work hard for your business” Realtor guy who is saying everything going great in Jacksonville.
April 20th, 2008 at 7:22 am
>>Pot meets kettle. When RealEstater tries to say someone else as “low IQ” it is perfectly fine (post #38). When I do to him, it is “rather unacceptable”.
I never called anyone here “low IQ”, and I won’t ever take credit for a term I did not come up with. Read carefully. You were attacking someone as low IQ, and I was merely asking if that’s the guy you were referring to, since his action fits what you described. After all, he took the concept so seriously he drew up his own version of the map. Would you even be able to do that?
April 21st, 2008 at 10:45 am
You were attacking someone as low IQ, and I was merely asking if that’s the guy you were referring to, since his action fits what you described.
———–
For your clarification, I called YOU as low IQ guy. I think that ends your confusion. Any more question?
April 21st, 2008 at 12:24 pm
You were attacking someone as low IQ, and I was merely asking if that’s the guy you were referring to, since his action fits what you described.
—————
“Merely asking”? What a drama-queen!
How about my question: Is your mother a whore?
Don’t get too offended. I was “merely asking”. And this is not my own question anyway. Check out this video where Jon Stewart explained “Cavuto Mark”. It’s hilarious!
April 21st, 2008 at 4:14 pm
Pralay,
I suggest you stop here before demeaning yourself further with such remarks.
April 21st, 2008 at 4:25 pm
Didn’t like the video?
Anyway, again pot calling kettle black.
April 21st, 2008 at 4:33 pm
Didn’t bother to watch the vid.
Once again, I encourage you to salvage some self-respect by publicly apologizing to the readers for your inappropriate remarks. Just think about it. Is it really worth it to go off the deep end just because the market is not behaving as you wished?
April 21st, 2008 at 4:35 pm
Pralay,
Here’s my response to your question: Can’t we all get along?
April 21st, 2008 at 4:53 pm
Once again, I encourage you to salvage some self-respect by publicly apologizing to the readers for your inappropriate remarks.
————-
LOL! I was “merely asking” the question, RE. Why should I apologize for it? If you don’t watch the video, you would not understand what I am talking about.
BTW, RE, try to be an example first, then “encourage” others.
April 21st, 2008 at 5:12 pm
Can’t we all get along?
———–
You mean the “management class” guy is trying to get along with “bunch of clueless amateurs”? That would be too insulting for “management class” guy, isn’t it?
April 21st, 2008 at 5:31 pm
Pralay,
You need to improve your comprehension skills. I said to “live where the execs live” from a real estate investment perspective. Where did I say I’m a management class guy? How many times have I stated I’m just your average Silicon Valley tech guy?
April 21st, 2008 at 5:37 pm
How about “management class neighborhood guy”? More appropriate? Quite long, but can be shortened to MCNG.