Who doesn’t want a especial house? Especially a Tiffany colored one!
185 DALE DR, San Jose 95127 (San Jose)
$499,888 Beds: 2 bed(s) Baths: 1 bath(s) MLS: 80768953
Property Overview
185 DALE DR
San Jose (San Jose) 95127
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 1,028
Lot: 18,295 sq ft
Yr Built / Age: 1932 / 76 years
List Price: $499,888
Assoc Fee:
Remarks
This unique house is ready to move in conditions, two bedrooms and one full bathroom two car garge with a nice espacius workshop with electric power, with 1028 sqft of living space and parcial basement. Don’t miss this oportunity to own this property, located in a nice area. Call for more Informacion.(As is Sale)
You see them all the time. Cookie cutter McMansions that have the same mute tones, and no personality whatsoever.
This house, on the other hand, really stands out. With a fence that can impale, the paint alone says: “Look at me, I’m special! I’m unique!”
Nothing will ring in your head like pride of ownership like this amazing charm. Here, let’s look at another glamour shot:
Wowser! It’s like walking into Tiffany’s and being surrounded by… Tiffany’s!
If you don’t call this house a jewel, I don’t know what your tastes are.
July 15th, 2008 at 6:02 am
I was hoping for an oportunity to see the espacius garge and parcial basement.
Ready to move in, but as-is!
July 15th, 2008 at 6:07 am
But it is not in East Palo Alto. Why bother?
July 15th, 2008 at 7:03 am
Whoa… the return of blue-green houses! And it’s lucky, with the 888 pricing!
Boy it must be nice coming home.
1) Get out of your car,
Drive into garage,
2) Open the gate to driveway,
3) Get back in,
4) Drive down the driveway,
5) Get out,
6) Open door to your garage,
7) Get back in,
9) Get out,
10) Shut garage door,
11) Walk down driveway,
12) Close driveway gate,
13) Walk inside!
The bay area is so innovative, just think, without steps like these we would be fat like the rest of the country. While they’re simply pressing a button in their car, we’re promoting exercise. Always a step ahead!
July 15th, 2008 at 7:36 am
Step 1: bulldoze that crazy fence
Step 2: get rid of the phallic looking chimney
Step 3: Pick another kind of paint besides swimming pool paint
Step 4: Knock another 150k off the price, then we might be talkin’.
July 15th, 2008 at 7:42 am
Hey, at least everything blends.
I would buy it if the inside was the same color. It would be like you’re living in the sky. Get a white couch and you could be sitting on a cloud.
July 15th, 2008 at 7:48 am
Thank you for the insightful blog.
I bought a home in 2003 in Hillsborough an ‘old money’ high end sub-market from San Mateo and my dad has a house in Sausalito. I have not seen any significant declines in the Hillsborough market so far- but I am starting to see a few sellers selling their homes 5-10% less than the originally bought them for. This seems like nothing compared to the East bay and Central Valley housing market 50% losses in many places———- question: Do you believe this is a sign for things to come in high end ‘Old Money’ bay area housing or would you say they are not flooded with toxic loans and well insulated from significant depreciation.
Thanks in advance for your time!
Luca
July 15th, 2008 at 8:03 am
Did it occur to anyone that if the lot was actually 18,295 SQ FT as idicated, this might be an attractive investment? Of course one look at the aerial map suggests the lot size is erroneous. The MLS has the same erroneous information. The tax assessor’s website doesn’t give SQ FT, but based on the parcel map, the lot looks like about 5,000 SQ FT.
Also the price listed on the MLS this morning is $398,000, so there has been a reduction.
July 15th, 2008 at 8:27 am
Looks like the owner went overboard with the “brass patina effect” paint on the gate, and then decided to just go with it for the rest of the house, hoping it looked like they’d done it on purpose!
July 15th, 2008 at 8:34 am
The NOD doc bears the info out, and so do the county records. Maybe it was inflated to influence the appraisal?
Parcel: 60121032
County: SC
Page/Grid: 835/A2
Owner: Jose A Bonilla
Site Address: 185 Dale Dr San Jose, CA
95127-2958
Mail Address: 185 Dale Dr San Jose, CA
95127-2958
Trustee & Lender
Trustee: Recontrust Co
1757 Tapo Canyon Road Svw-88
Simi Valley, CA 9
Lender: Countrywide Hm Lns Inc
400 Countrywide Way
Simi Valley, CA 93065
(800) 669-6650
Default Information
NOD Doc # : 0019844603
Rec Date: 05/07/2008
Delq. Amt: $22,227
As Of: 05/06/2008
Loan #: 0018868375
Default Date:03/30/2006
Loan Amt: $480,000
Principal: $00
Trustee Sale
Sale # 08-47871
Auct. Date:
Auct. Time:
Auct. Loc:
Bid:
NOT Doc #
Rec. Date:
Loan #:
Default Date:
Loan Amt:
Property & Sale
Sq Ft : 1,028 Yr Blt: 1932
Lot Size: 18,295 Bdrm: 2
Garage: G 0 Bath: 1.00
Zone: R1 Units: 1
Use : RSFR
Land Value: $281,659
Imp Value: $193,304
Asd Value: $474,963
Last Sold: 11/02/2004
TD Loan Amt: $480,000
July 15th, 2008 at 8:45 am
Luca,
Hard to tell. In general, the upper crust of the market holds up a bit better than the lower end. If we’re talking super-rich, then there probably won’t be as dramatic of a decline. But… new stories seem to pop up everyday about some new “surprise” where foreclosures are starting to appear in places like Malibu, Greenwich, Conn, and so on. I’d say the economy has more to do with anything, and if people start running on the banks, then I doubt any market will hold up.
July 15th, 2008 at 8:52 am
I noticed the lot size too, however I don’t think anything in the 95127 area code is an attractive investment. $400,000 is the average home price there, and it’s been seeing sharp declines (last Mercury News report had it down 39.5%). There’s not much money to be made from a $400,000 house on renovations, and the chance that it will depreciate is great as it’s not even remotely RBA.
July 15th, 2008 at 9:09 am
BTW - after looking at the lot on Redfin, I don’t see how it’s 18295 sq ft.
July 15th, 2008 at 9:09 am
It would possibly be worth it if it was closer to Alum Rock & McKee, and had views of the city. As it is, the bank will take a very cold bath on this one.
July 15th, 2008 at 9:49 am
Looking at the lot on Google Maps and using the distance measurement tool, the lot comes out to be roughly 110ft by 50ft, or roughly 5500sqft. There is no way it is 18295sqft. Maybe some scam somewhere, or it secretly includes two other houses nearby? Seriously if one is at the location how does one write 18295sqft without knowing it is wrong.
July 15th, 2008 at 10:10 am
Looks like a scam. The bank probably never verified, it looks like defaulted on 3/30/2006! And it is still on the market asking for this kind of price, the bank followed the market all the way from $650k since 2007.
There is no sale data on this house since 2003, the amount was $415k, it ballooned to $485k by the time the bank took it back, so it was probably a zero down/neg am toxic loan.
July 15th, 2008 at 10:12 am
I wonder when the majority of defaulted houses will be hitting the market if houses defaulted on 3/30/2006 hit the market in 2007 and still on the market now.
July 15th, 2008 at 10:22 am
re: “I wonder when the majority of defaulted houses will be hitting the market if houses defaulted on 3/30/2006 hit the market in 2007 and still on the market now.”
I think there is a lot of “hidden” inventory waiting to hit the market. RBA markets have held up better than most. So banks don’t see the need to sell right now. They figure they will get a good “market” price over the next 6 to 12 months. I think the banks will be disappointed though.
July 15th, 2008 at 10:24 am
Brian, actually 95127, 95111 and 95148 are areas I follow pretty closely now, just because they have been destroyed price-wise.
95127 has an area up at the top of Alum Rock where it crosses McKee where lots are 10K sq ft, this is near the country club- this is an investable area.
95148 is another east side that borders Evergreen- if you can get one of these that is right next door to a 95135 house, with maybe some of the same schools its a good investment.
I can’t find anything good about 95111 yet
July 15th, 2008 at 10:26 am
Hellboy and Rick, I keep hearing about this hidden inventory but at this point, foreclosure inventory is declining. A lot of the low priced houses started selling when I bought recently. So if this shadow inventory doesn’t show up this year, its a non event.
July 15th, 2008 at 10:50 am
WG, yeah, but the banks can’t even keep up with the inventory they’ve got (more in the Southland than here, but the same banks process the whole state), so I’m sure it will keep dribbling out.
What do you think of this house at $398K, only $50K more and bob will snap it up? The second mortgage is a complete loss and the first mortgage, Countrywide, is going to lose $90K on this sale.
Also check out the photos on redfin. The outdoor photos are the best ones. Inside you get underexposure (dark) and/or blurred, perhaps deliberately. I suspect whoever took the pictures didn’t know you had to change settings when you go indoors, and shot at 100 ISO.
Here’s the listing history, what a wild and bumpy ride:
Date Price
Dec 21, 2007 $650,000
Jan 28, 2008 $599,888
Mar 05, 2008 $589,888
Apr 15, 2008 $559,888
Apr 16, 2008 $549,888
Jun 10, 2008 $499,888
Jun 20, 2008 $449,888
Jun 27, 2008 $415,000
Jul 08, 2008 $398,000
With a last sale at $415K in 2003, my joke about partying like it’s 1999 isn’t much of a joke anymore.
luca, homes in old-money areas tend to stay put during price declines. People who live there usually can afford to wait it out, financially. Prices aren’t down the 30-50% you’re seeing in Central Valley and parts of the East Bay, because of what’s called “stickiness.” Price is actually a feature for the wealthy. If someone has to move though, there go the comps. Thing about stickiness, is if you want to move, you’re stuck.
July 15th, 2008 at 11:00 am
Thanks for the redfin link - I was too lazy today. It has the requisite GRANITE countertops, and the bathroom looks like a Home Depot ad. (shakes head)
The street view is interesting though. The rest of the neighborhood looks pretty nice. (I wonder if the one across the street sold.) Really, this house is the eyesore of the area. I don’t think it would be so bad if that fence was taken down and the place was painted.
Not that I’d buy it right now; even on a dare.
July 15th, 2008 at 11:17 am
It’s an as-is sale, wonder if it’s got major problems like foundation damage. The house is 75 years old, so who knows what’s wrong with it. Not worth it as a scraper unless the lot really was 18K sf, which it isn’t.
Did anyone notice the house across the street, 184 Dale, is for sale, for $359K, and it isn’t a fugly paint color? Take a look at the aerial map and you’ll see the lot sizes are similar. 184 Dale is listed as 4896 sf. 185 Dale is 100 sf bigger as a house but no way that lot is 18K sf.
July 15th, 2008 at 11:20 am
184 Dale Drive. The one with the non-ugly paint job.
Listing History:
Date………… Price
Feb 25, 2008 $419,900
Apr 19, 2008 $399,900
May 16, 2008 $389,900
Jun 30, 2008 $359,900
Sales History
Date…………. Price Appreciation
Mar 07, 2005 $484,000 –
Dec 12, 2007 $408,204 -6.0%/yr
Ouchers.
July 15th, 2008 at 11:32 am
Looks like the early knife-catchers are now in trouble too.
July 15th, 2008 at 12:00 pm
The December “sale” was probably the bank taking it back. Looks like they aren’t as hosed on this one as across the street.
July 15th, 2008 at 1:22 pm
Willowglenner,
that area is my old ‘hood. I know it well. There are some areas of 95127 that are pure ghetto and others are up by the country club. The area for this house is pure ghetto. Stone’s throw from James Licks ass.
July 15th, 2008 at 1:46 pm
WG,
I am only talking about this house and it is a fact with this house. You seem to become impatient now.
If you have some information about how fast defaulting houses are hitting the market let’s all hear it. It is just common sense that people who are about to lose their house will try to fight it first, then they default for a few months, then the bank take it back when it has the resource to do so, then there is the process of evalution etc in the process of selling. And news have been confirming this for quite some time now. If people are just mailing in their keys and keep the house in good condition, the bank would just put it up for sale immediately, and it is sold quickly, what’s this half years’ talk about bail-out about?
July 15th, 2008 at 3:51 pm
If you have some information about how fast defaulting houses are hitting the market let’s all hear it.
I’m not impatient just discussing the facts as I see them as opposed to the constant permabear conjecture here. I would like to see some facts to support the whole shadow inventory claim, too.
The number of foreclosed residences decreased in Alameda County by 25 percent and in Contra Costa County by 4 percent in June compared with May, the new report from RealtyTrac stated.
Foreclosures decreased by 9 percent in the Bay Area, by 5 percent in California and 3 percent nationwide. In contrast, foreclosures in San Mateo County rose 19 percent during the month.
“There are some very early signs that there might be a light at the end of the tunnel,” said Daren Blomquist, a spokesman for RealtyTrac, an online real estate site.
http://www.contracostatimes.com/business/ci_9831358?nclick_check=1
July 15th, 2008 at 3:54 pm
madhaus the lot sizes around there are routinely 10K sq ft though, so although I also think this house info is wrong, its not unthinkable that it would have a huge lot there.
Here are some others in the general area with huge lots.
http://www.redfin.com/CA/San-Jose/116-FLEMING-Ave-95127/home/615549
http://www.redfin.com/CA/San-Jose/71-TALMADGE-Ave-95127/home/1442971
July 15th, 2008 at 4:14 pm
Area51, this street Dale is pretty down there but what about when you go up the map on Alum Rock to Cragmont, Claremont and Fleming, are those also hood? The street view on those looks somewhat cool, actually. Not trying to oversell it but when you look at the street view on Cragmont, it looks like an old part of town that is a little rundown- not exactly a hood. the appeal is the lot sizes and the views. And lots of trees (due to the lot sizes)
July 15th, 2008 at 5:09 pm
WG,
You were talking about Area51’s post, read my post again, I’ve never talked about “shadow inventory”, heck to me shadow inventory does not mean anything. Is the owner who delay his sale a shadow inventory (he will need to eventually)? Or the one thinking about it then decided not to?
Now foreclosure’s rate of increase does have something to do with my opinion. Is foreclosure rising? The answer can be vary, it could be “yes” compare season to season, “no” for June. I don’t know and I don’t care. At least the June data does reverse the trend and I can see a lot of people are already calling the bottom.
Does it mean that I am wrong in saying that it takes a lot time for foreclosures to reach market? You tell me. Does foreclosure rate decrease mean that houses defaulting has already reached the market? (Like this one that has taken 1 year to simply reach for sale stage), I have no idea, I am just wondering whether this represents the norm. Again you may know better.
July 15th, 2008 at 9:00 pm
It looks like this house has been colorized. Maybe the wicked witch of the west lives there!
July 15th, 2008 at 10:39 pm
rick, shadow inventory are houses that the banks own but have not listed in MLS or their REO lists. They either delay the foreclosure or don’t do more than hold onto the mailed-in keys. Supposedly the banks have so much inventory they dont’ want to release all this stuff at once. This may be more of a Southland issue than here but stay tuned.
I agree the change from May to June of foreclosure rates is not necessarily a sign of the bottom, home sales are strongly seasonal and if people are foreclosing due to loan rate resets then maybe since fewer sales in June than May then fewer resets so fewer foreclosures. The number to see is this year vs last year.
July 15th, 2008 at 10:41 pm
The Case-Shiller guys think we may be near bottom:
http://www.smartmoney.com/barrons/index.cfm?story=20080715-real-estate-rout-may-be-short&pgnum=2
It doesn’t say anything about shadow inventory and barely touches Alt-A, but still interesting.
July 15th, 2008 at 11:47 pm
I forgot I wanted to mention something about the text in this MLS listing- “espacious” and all that.
I have this habit of perusing Craigs List while I am at work, looking for whatever junk I can find (mostly to update my houses, there are lots of leftovers from people’s remodelling projects that I can use, or in some cases I like the original fixtures)- but anyway- the wordsmithing that goes on by obviously foreign transplants is hilarious, examples
- for sale: leather reclaimer chair (recliner)
- chester drawers (chest of drawers)
- intensive purposese (intents and purposes)
- rot iron (wrought iron)
etc
July 16th, 2008 at 8:17 pm
Hey hang on, Dale Drive. That sounds familiar. Why oh why.. 576 SQ FT house - great for 2 families