August 26, 2008

How does a freeway, power lines, and an airport affect home price?

MLS-2.com: Property Details
349 SAN PABLO AV, Millbrae,CA,94030 – $735,000

3 Beds 1140 Sq.Ft. Aprx. 2 Car Garage MLS#: 828147
1.0 Baths 5,000 Lot Size 56 Yrs Old Aprx. List Date: 2008-08-15

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

Description – 349 SAN PABLO AV, Millbrae,CA,94030
Delightful three bedroom one bath corner home filled with charm has an open and Airy Living Room with adjoining Dining Room, Newer Stainless Steel Appliances in Kitchen. Spacious backyard has adjoining 1,188 /- lot perfect for entertaining guests of all ages, manicured lawn, and mature vegetable gardens. APN 021-306-280 also included in this sale! Making this lot 6,188 /- Square feet!!

If you’re in the Bay Area, the answer is clearly: “Makes it more special.”

Everything in the Bay Area only serves to make housing more expensive. Let’s take a look at a map and see how the components of this particular property make it a must buy:

First, this house is situated right near the International terminal of SFO. This means that rich moguls from Moscow and Shanghai and Mumbai will easily be able to visit their investment properties in your neighborhood. Haven’t you heard? With the dollar so cheap, these people are snapping up real estate all over – they’ll probably see your house as they taxi to the gate and say “I vant that house! Here are my rubles!”

Next, there’s tranquil 101. Everyone wants easy access to freeways – boom, a major commute saver.

Power lines! Everyone knows that California’s energy grid is in shambles, and that it is 1 step up from Iraq’s. Fortunately, by having these power lines near you, you will likely have first dibs to energy if they should fall down. It’s called thinking ahead.

Not shown, this house is also located near Bart and Caltrain – again, more great commute options.

Frankly, I don’t see how you lose – especially with this bargain basement price of just $735,000 for a 3/1!

Comments (25) -- Posted by: burbed @ 5:47 am

25 Responses to “How does a freeway, power lines, and an airport affect home price?”

  1. Hellboy Says:

    Re: “I vant that house! Here are my rubles!”

    LOL!

  2. RinkRat Says:

    “Ah, there’s nothing like the smell of napalm (insert “jet fuel” here) in the morning”

    — Apocalypse Now

  3. bob Says:

    Yes… all them thar’ feriners’ are comin’ to save us all. I heard that all them people from China, India, and Russia are rich rich rich and to them, paying a million bucks for a crappy little house is a STEAL!

  4. Jim D Says:

    Huh, typically these places say “dual pane windows”, sort of as a warning for anyone who doesn’t know the neighborhood to zoom out on the map. I wonder if this one is missing that feature, or just didn’t want to emphasize it? :-)

  5. sonarrat Says:

    Actually all those things affect the price quite a bit.. if this house was west of El Camino Real it would clear $1 million easy. Millbrae is an expensive town.

  6. DreamT Says:

    The location is missing leaking water treatment facility located uphill, everburning radioactive landfill and a defunct coal power generation facility, to qualify for the Housing Royal Flush.
    But then you only find these in the highly sought-after Hunters Point neighborhood.

  7. bob Says:

    At least it has a garage. One of my friends lives next to 101 and he doesn’t bother cleaning his car because the dust from the freeway coats his car in a black film in less than a day. Add jet fumes to the mix, and just imagine what you would be breathing into your lungs if you lives in this jewel of a house.

  8. madhaus Says:

    Just think, if only you’d bought this house last year, before Millbrae prices shot up 60% when all those rich furriners noticed them during their private jet landing approach.

    You’ve now been priced out forever.

    burbed, how can you call this house bargain basement when it doesn’t even have a basement?

    DreamT, LOL. I’d kind of like a Perpetual Tire Fire nearby, myself.

  9. DensityDuck Says:

    But is it anywhere near WET PETS?

    “double-you eee-tee, pee-eee-tee-ess, double-you eee-tee, pee-eee-tee-ess…”

  10. Mark Says:

    A terrorist’s “wet dream” location. Take this off the market now!

  11. rick Says:

    This house is perfect to entertain guests of all ages! Look, there are a lot of people going to the airport at lunch time watching airplanes take off and arrive, you might even start a deli business in the back yard.

    Not to mention the entrepreneurial possibilities: a bed-and-breakfast near the airport, a meeting (cough) conference room for those wishing to meet without driving too far out of the airport, and of course your own barbecue stand to rival the Broadway Benihana.

  12. Mark Says:

    i hope bay area housing will be back to 2002 level, with the help of your blog. prices are ridiculous here.

  13. burbed Says:

    But that’s the thing – if you’re willing to eat PB&J and make a few other sacrifices, like work 2 jobs, live 2 families to a house, it’s not that ridiculous.

    And unfortunately it appears a lot of people are willing to do that.

  14. sonarrat Says:

    This house is perfect to entertain guests of all ages! Look, there are a lot of people going to the airport at lunch time watching airplanes take off and arrive, you might even start a deli business in the back yard.

    This is true, but people usually go to that park on the Old Bayshore Highway where all the hotels are to do that.

  15. Alex Says:

    This is a great property. Convenient access to transportation and power lines. What more can I ask for?

    I’m going to inquire about buying this house.

  16. Herve Says:

    You see power lines. I see an opportunity for new townhouses, à la Gables End.

    Sometimes I wish Improv Everywhere could set up in mission during an open house.

  17. Taxy McTaxandspend Says:

    @sonarrat

    “This is true, but people usually go to that park on the Old Bayshore Highway where all the hotels are to do that.”

    So, start an airport parking business. You can probably fit 4 cars on that lawn and driveway. At $10/day, that’s about $1200 per month for full occupancy. Give up your garage and build a mini-parking deck for even more space!

  18. anon Says:

    Yes, this truly is a delightful home. And for only 3/4 of a million dollars? 3/4 isn’t a big number, really. Reduced to a decimal its .75! For crying out loud! That’s less than one! By not buying this home, you’re robbing someone of the American dream. Are you people really that selfish? I don’t know about any of you but I don’t want that on my head!

    What’s really funny is the fact that the home is in the bottom left corner of the overhead screen shot. As burbed aptly described, the Realtwhore must have seen it as a positive and intentionally sought to include it in the description.

    Think about it. You can sit on your porch inhaling fumes, absorbing electromagnetic fields watching the planes go by. Not only that, but you can experience this glorious setting with people of all ages! Ahhhhhhhhhhhhh the bay area. How special!

    Remember: The bay area is not Texas (or Uranus!).

  19. sonarrat Says:

    What’s really funny is the fact that the home is in the bottom left corner of the overhead screen shot. As burbed aptly described, the Realtwhore must have seen it as a positive and intentionally sought to include it in the description.

    If he zoomed out a bit, you’d see that it’s also in close proximity to the Caltrain tracks. It’s like the Axis of Evil.

  20. Alex Says:

    Can’t say for Indians and Chinese, but Russian folks will not even look at this pos. These days rubles are well spent on mansions and ocean/mountain resorts in Florida and Colorado:

    http://www.huffingtonpost.com/2008/05/09/russian-billionaire-abram_n_100961.html

    Actually shacks like this is a common subject for jokes about american RE market in russian media. “Look where americans spend their millions…” :)

  21. WillowGlenner Says:

    regarding Caltrain, apparently Rod Diridon has a plan to run a japanese style bullet-train to the LA area along the Caltrain lines on the peninsula- ABOVE GROUND. It was supposed to be an east bay path to SF, but changed to San Jose sometime in August. Just another completely braindead transportation project.
    http://www.sanjoseinside.com/sji/blog/entries/one_bullet_train_or_ten_barts/

    Caltrain is a local commute vehicle and bullet trains to LA do nothing to improve local commutes. And bullet trains need to be UNDERGROUND in urban areas. This plan has this bullet train going right through downtown Burlingame. I’m sick of all these public transportation white elephants.

  22. Pralay Says:

    Looking at this house, now I know how foreigners come here without visa for investment. There must be a secret underground tunnel from airport to this home. Voila!

  23. Herve Says:

    Caltrain
    BART
    Light Rail
    ACE
    Amtrak

    With that in mind, the high speed train will probably consist of 2 lines (managed by 2 companies), one from San Francisco to San Jose using the Japanese train, the other line from a different station in San Jose to LA using the French train. The 2 stations will be connected by Light Rail, and the schedules will be inversely synchronized.

  24. cynthia Says:

    This should be on the best of burbed!!

  25. Easy access to Caltrain, 101, SFO, and power grid - what more could you want? [Burbed.com] Says:

    [...] and I thought this house last month had it all! Nope, this house definitely takes the cake. Planes, trains, and automobiles and power [...]


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