September 15, 2008

Finally, a Real Bay Area house in Burlingame! (Commuter’s dream!)

1100 OXFORD Rd Burlingame, CA 94010
Price: $1,028,000


Beds: 2
Baths: 1
Sq. Ft.: 970
$/Sq. Ft.: $1,060
Lot Size: 4,819 Sq. Ft.
Age (Years): 68
Year Built: 1940
Type: Detached Single Family
Style: Ranch
Stories: 1 Story
View(s): Neighborhood
Neighborhood: Burlingame Gate/Burlingame Grove

Located on one of the most desirable Burlingame streets. Formal entry way, French door, crown moldings, and updated kitchen(granite Counters, many cabinets. .. ), elegant living room, comfortable and relaxing. Bonus room, new fresh hardwood floors throughout, landscaped lot, gorgeous yard, gold fish pond and Spa too!

Lately there’s been so much doom and gloom – luckily Burbed reader Jeff found this amazing property! There’s really no need to look at the photos, you just need to look at the price per square foot!

$1060!

Wowser! But wait! It gets better! This house is on California Drive, which people take instead of El Camino Real, and is also next to Caltrain!

Not only that, but this house last sold for $830,000 in 2004 – that’s a 24% gain! It makes sense – the unique setting enables this house to be a commuter’s dream!

Thanks Jeff. My spirits are soaring again. I <heart> the Real Bay Area!

Comments (225) -- Posted by: burbed @ 5:07 am






September 14, 2008

How do you determine whether something is overvalued or unaffordable?

Did rent soar? What’s the market like near you? [Burbed.com]
anon Says:
September 10th, 2008 at 9:57 am

It’s not an unaffordability problem – as someone said before its an OVER VALUED problem. The homes are being purchased – there is no doubt about this. This shows that there is no unaffordability problem. The problem is that many people bought garbage boxes at inflated dollar values with the expectation that they could sell them for the same price they paid for them or more.

Unaffordable or overvalued?

How do you tell the difference?

Clearly everything in the Real Bay Area is neither both –  houses are priced fairly and affordable if you are willing to make the easy sacrifices that others have recommended (e.g. rent out rooms, rent out garage, have your children work, have your entire family eat at Google and soup kitchens, etc.)

But let’s talk about slightly less RBA areas. How can you tell? What are the signs?

Comments (59) -- Posted by: burbed @ 5:19 am

September 13, 2008

Absolutely Foster City Blog

Blog Roll | Absolutely Foster City Blog
Just in case you didn’t notice I’ve added a list of other blogs on the left hand margin. The top half are blogs from around this area and, obviously, have a very local focus. Of these, I can’t tell you how crazy I am about Burbed , it’s absolutely hilarious and my goal as a real estate agent is to NEVER have one of my listings profiled there! Think of it as “The Onion” of local real estate.

That’s a pretty good goal!

Thanks for the call out!

Comments (19) -- Posted by: burbed @ 5:05 am

September 12, 2008

Did another earthquake just hit San Francisco? $932 per square foot?

372 Arleta Ave, San Francisco, CA 94134 Visitacion Valley MLS# 346045 – Property Details
$429,000

* Status: Active
* Bedroom: 1
* Bathroom: 1
* Year Built: 1947
* Lot Size: N/A
* Square Footage: 460
* List Date: 8/21/2008
* Garage Spaces: 1

This is a conservatorship sale subject to court confirmation. Fixer upper. Enter at your own risk. 50 x 100 lot with small home and older garage. Property to be delivered as is, loaded with the personal property and effects of the decedent left in place. Some view toward south bay.

Well… so far not too bad. Some view of the bay, free personal property, small hill.

Let’s look at some more pictures shall we?

Um…

Uh…

Er…

Eh…

Huh…

So… $429,000 for this. Ok, I can see that. Maybe you can clean this up a little (Junk King anyone?) and flip it for $800k. After all, it’s San Francisco – and they’re not making anymore San Francisco (except where they are.)

Frankly though, I’m simply amazed by this – and I bet you are too. I thank the two Burbed readers who sent me this (Heather and sonarrat) for this find.

Now… it’s Friday, and that means only one thing – story writing contest!

Who amongst you can come up with the most clever story to explain this fine piece of Real Bay Area Real Estate? Was there another earthquake? Corporate shake up? Let’s hear it!

Comments (16) -- Posted by: burbed @ 5:19 am

September 11, 2008

What does a million dollars buy you in San Mateo these days?

2181 Bunker Hill Dr, San Mateo, CA 94402 MLS# 80828749 – Property Details

$1,048,888

* Status: Active
* Bedroom: 4
* Bathroom: 2
* Year Built: 1958
* Lot Size: 9310
* Square Footage: 1970
* List Date: 8/18/2008
* Garage Spaces: 2
* MLS#: 80828749
This spacious and expanded Highlands Eichler home is situated on a large level lot. Home offers the family the ability to grow. Ideal four bedroom home with two bath, family room, living room, and dinning area perfect to entertain. Well designed floor plan that has been expanded. Good size home that need attention. A must see for the Highlands fan. Sellers are motivated.

“There can be only one!”

Oh wait… Highlands fan. Misread that.

I’m a bit perplexed to read that the sellers are anxious. Why might that be?

Let’s take a look inside shall we:

Hm. Judging by these photos, I’m going to guess that this house was last remodeled in… 1958.

But still… why would the sellers be anxious to sell this? What’s the skinny on this house?

Comments (148) -- Posted by: burbed @ 5:53 am

September 10, 2008

Easy access to Caltrain, 101, SFO, and power grid – what more could you want?

1116 Landing Ln, Millbrae, CA 94030 MLS# 80808571 – Property Details
$575,000

* Status: Active
* Bedroom: 3
* Bathroom: 2
* Year Built: 1953
* Lot Size: 7820
* Square Footage: 1120
* List Date: 5/13/2008
* Garage Spaces: 2

SHORT SALE! HUGE PRICE REDUCTION! BANK APPROVAL REQUIRED! Prime corner Millbrae turnkey home!Sitting on a huge 7870 sq cul-de-sac lot. Features 3 bedroom 2 baths. Recently remodeled. Great R-2 potential! Close to BART & Downtown shops.SHOW & SELL

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

Frankly, I’m not sure why this is selling for so little – it’s the ultimate convenience home. Again, this is the perfect house for foreigners. In just 2 years you’ll easily be able to say Ni Hao, Namaste, Zdravstvuite, or even Barka saato and BOOM you’ve instantly doubled your investment. Split it and quadruple your investment!

What are you waiting for? Caltrain, 101, SFO, and those Power Lines are getting rarer and rarer everyday!

Comments (48) -- Posted by: burbed @ 5:38 am

September 9, 2008

Your chance to own a house that Steve Wozniak lived in – huge price cut!

300 Santa Rosa Dr, Los Gatos, CA 95032 MLS# 80812137 – Property Details
$3,900,000


* Status: Active
* Bedroom: 5
* Bathroom: 4
* Year Built: 1986
* Lot Size: 51836
* Square Footage: 7500
* List Date: 5/30/2008
* Garage Spaces: 3
* MLS#: 80812137

THIS IS A UNIQUE HOME UNLIKE ANY OTHER! COMPLETELY CUSTOM BUILT HOME! This home is one of a kind contemporary master piece-sold WAY under valued. Live in the prestigous neighborhood on Santa Rosa Drive with unparallel views of the valley below! Beautiful contemporary estate. HUGE PRICE REDUCTION! MAKE YOUR OFFER!

Well, this is certainly an unusual house, and an unusual way to start the week. Let’s see what the anonymous Burbed reader who sent this in had to say:

I hate to pick on a house once owned by RBA-king Steve Wozniak, but I’ve been watching this one with interest for at least a year.It started at a $10 million list price and after at least four cuts, the realtor screams “HUGE PRICE REDUCTION! MAKE YOUR OFFER!”No kidding, what a bargain at $3.9M, huh?I actually feel bad for the flipper (or at least the financiers behind it), and even before the crash late last summer I thought he overpaid by a couple million.He paid $6.9 million after all.The bubble owner/sellers must be very happy now!

Oh, and the original website set up to market this house even had quotes of praise from Thomas Kinkade.(Yes, the franchised purveyor of so-called “fine art.”)

Wow! Wow! Wow!

This is your last chance to own a piece of Silicon Valley history. Imagine living here? It’s amazing. It’s stunning. It’s too awesome to believe!

And now, just $3.9 million. Could it be worth it?

Thanks anonymous Burbed reader for this amazing find and backstory!

Comments (165) -- Posted by: burbed @ 5:09 am

September 8, 2008

The bottom of the housing market has been reached – in San Bruno

845 6TH Ave San Bruno, CA 94066
Price: $395,000


Beds: 2
Baths: 1
Sq. Ft.: 730
$/Sq. Ft.: $541
Lot Size: 3,700 Sq. Ft.
Age (Years): 62
Year Built: 1946
Type: Detached Single Family
Stories: 1 Story
View(s): Neighborhood
Neighborhood: Belleair- Etc.
County: San Mateo
MLS#: 80812348
Source: MLSListings
Status: Active

Charming 2 Bedroom & 1 Bath with bonus room. Storage area, close to SFO, Bart, Schools. Bring all offers motivated seller.

Thanks to sonarrat for sending this in a while back ago.

If this isn’t the sign of a market bottom, I don’t know what is. Come on… just $395,000 for a single family home? If this isn’t a steal, I don’t know what is! Let’s ignore the fact for a minute that it is $541 per square foot. Let’s also ignore those bold exterior colors that this part of San Mateo is so famous for. Instead, let’s look at some of the interior pics that are meant to dazzle and attract you:

Wow. Now Burbed isn’t always a big fan of staging, but this staging job is absolutely amazing. Just looking at this makes me feel like I am at home already. What? Don’t you envision your potential house with a hard side suit case on the bed? Or a bed where everything in the headboard will kill you in a 2.1 earthquake?

Excellent job listing agent! Excellent job!

Comments (9) -- Posted by: burbed @ 5:40 am

September 7, 2008

Did rent soar? What’s the market like near you?

Tight market boosts rents

Rental prices rose year-over-year in every Bay Area city surveyed by RealFacts. The chart below shows average rents, occupancy and year-over-year changes in cities that have more than 20 apartment complexes with at least 50 units.

City Complexes Occupancy{+1} Change{+2} Rent{+1} Change
Alameda 22 90.3% 9.6% $1,443 5.4%
Campbell 28 96.5 -0.9 1,428 10.8
Concord 37 96.0 -0.5 1,146 3.4
Fremont 69 95.3 -1.1 1,439 7.5
Hayward 57 96.1 -0.9 1,196 6.6
Mountain View 59 95.6 -1.1 1,774 11.6
Oakland 21 95.5 -0.6 1,420 3.7
San Francisco 44 95.2 -0.6 2,285 14.5
San Jose 150 96.0 -0.6 1,541 10.5
San Mateo 29 96.9 2.8 1,809 9.8
Santa Clara 45 96.3 1.8 1,794 13.3
Santa Rosa 44 95.5 -0.7 1,170 6.1
Sunnyvale 82 97.1 -0.5 1,593 9.5
Walnut Creek 35 94.3 -2.1 1,452 12.4
Bay Area 1,241{+3} 95.8 -0.1% $1,562 9.4%

Thanks to WillowGlenner for bringing up this January 2008 piece.

I’ve heard a few mixed stories now – I’ve heard rent going up 0%, 3%, and 10%. It’s now September – did these past results reflect future direction accurately?

Will rent prices ever reach parity with mortgage payments?

Inquiring minds want to know!

Comments (242) -- Posted by: burbed @ 5:37 am

September 6, 2008

Just 4 homes at Gables End!

OH MY GOD! There’s only 4 homes left! They’re not making any more! This is it guys – if you don’t buy one right now, you’ll never be able to afford living near Google again!

And to think that some of you said this recently:

buckborden Says:
August 15th, 2008 at 5:39 pm

Those “sold” signs are faked to make sucker buyers think that sales are brisk and to promote sucker sales. A friend and I noticed four “sold” signs in the windows of several units of a new townhome complex near his place in San Jose, and when we asked the guy in the office how come nobody is moving in, he got really evasive and said that was not public knowledge. So I inquired myself down at City Hall, and much to my (un)surprise…..the signs were faked; there were zero sales recorded since the place opened three months ago! I told the office guy there was no record of sales AT ALL for his complex, and he got really angry then. I still haven’t seen ANYBODY move into any of the units. We are thinking of changing the “Now Selling” sign out front to “NOT SELLING.”

Can you say “Fall Bounce”?

Comments (10) -- Posted by: burbed @ 5:56 am