6252 3rd St San Francisco, CA 94124
Price: $187,900

Beds:     2
Baths:     1
Sq. Ft.:     695
$/Sq. Ft.:     $270
Lot Size:     -
Property Type:    Single-Family Home
Property Style:    Traditional
Year Built:    1915
Stories:    1
Region:    San Francisco District 10 (Southeast)
Area:    Bayview Heights
County:     San Francisco
MLS#:     348172
Source:     San Francisco MLS
Status:     Active
On Redfin:     22 days
Located steps from the new 3rd Street rail line, there is a large rear yard, two bedrooms, a large eat-in kitchen, one bath, dining room and living room. This would be the perfect property to put your own personal stamp on. This is a great opportunity at a great price! This bank owned property is only accepting all cash offers at this time.

I honestly had to do a double take when I saw this listing that Burbed reader Indoor Adventure sent. This is what he had to say:

Hey Burbed,

We totally love your site, i’ve never laughed so hard from reading a housing blog. You have a great writing style, keep up the good work

I just found this GEM tonight and thought of you and your site immediately.

http://www.redfin.com/CA/San-Francisco/6252-3rd-St-94124/home/1727218

I think I’d title this “The bottom in San Fransico has arrived!” or something like that I will also note that the “backyard” pic is very sureal <G>, but hey another title, “A yard in San Francisco!!!?” how rare is that?

Thanks again for making me laugh every day.

-IA

Gem indeed. ZOMG! Hey San Francisco… if you don’t improve your performance soon and cut crap like this out, you are going to face being removed from the Real Bay Area association. Shape up or ship out!

That said, let’s take a quick look at this backyard that IA is so fascinated with:

Interesting how that building in the background is just a facade. Clearly if you buy this house, you will be living on a movie set! That said, the house on the right could probably use some tilex….

And remember! This house requires all cash. Come on! At this price, you could Coinstar it! The price is so low, it’s downright scary!

Thanks for the find Indoor Adventures. Be sure to tell all your friends about this fine site!

Property Report: 1139 WELLINGTON Ct SALINAS, CA 93906 - Krunching
1139 WELLINGTON Ct
SALINAS, CA

Year Built
1996
Zoning
Lot Sqft (ac)
5998 (0.14)
Bldg Sqft
2207

Listing Price
$329,900,000

Map data ©2008 Tele Atlas - Terms of Use
Map
Satellite
Hybrid
Listing Information

Listing Date
Subscribers only
MLS
MLSLISTINGS
- 819094
Listing Agent
Salazar
Listing Office

Comments

Beautiful Creekbridge home perfect for a growing family or for someone who wants alot of room. This beauty features a very generously sized kitchen and plenty of room throughout the four bedrooms. Schedule your private showing today. You won’t be disappointed.

Thanks to Burbed reader Jim for this amazing find.

Wow. I’m shocked. At $149,478 per square foot, this house truly takes the cake. Forget Real Bay Area, this is Real Bay Area Maximus! Or… True Real Bay Area. Either way… wow… we’ve got some stiff competition going on. Do you hear that Palo Alto and Saratoga? REAL STIFF COMPETITION. Time to step up your game and beat these suckers.

(BTW, where is Salinas?)

590 Hurlingame Ave, Redwood City, CA 94063 Dumbarton MLS# 80829025 - Property Details

$265,000

* Status: Pending Release
* Bedroom: 2
* Bathroom: 1
* Year Built: 1964
* Lot Size: 2500
* Square Footage: 760
* List Date: 8/20/2008
* Garage Spaces: 1
Great price reduction. This is a two-bedroom one-bath corner house. Garage is converted to an additional, third bedroom. The current owner installed a lovely iron gate, paved front yard and driveway, and built a wooden shed in the backyard. All of this is available for the enjoyment of the new owner. There are engineered wooden floors throughout the house. The kitchen has an eat-in area.

You snooze you lose. Redwood City is a popping! This house is pending release already. It’s got engineered wood floors - all the plans have degrees from Stanford or Berkeley. There’s even a lovely iron gate to remind you of French aristocracies (stay out peasants!) and an eco friendly paved front yard!

You know what probably sold this house the fastest though? This interior photo:

Come on! This house includes a magic dresser which has a portal to another dimension! What geek wouldn’t immediately fall in love with this house? At this price, even an $18 year old working part time at Fry’s could buy it!

(Caution: portal may be one way…)

Unfortunately the anti-spam filter is blocking madhaus right now (sigh) so I thought I’d just post this directly as an entry:

Case-Schiller’s out, and the numbers keep on a-goin’ down, down!

San Francisco C-S index is now 151.42, same value last seen in October 2003. Yes you read that right, the SF area resold home index has lost five years’ worth of gains.

Last August was 208.15 so the August ‘08 index is down an incredible 27%. If you look at the highest tiered prices (upper one-third), that’s down 13.5% (half the aggregate index) compared to last August. The upper tier’s index of 165.31 compares with prices in January/February of 2005. The lowest tier, however, is down 42.7% and the index of 139.44 is at the same rate last seen in (are you ready?) April/May 2001. Yes, I said 2001.

I don’t know if cream is rising to the top but the crap is definitely sinking.

960 Marion Way, Sunnyvale, CA 94087 Sunnyvale MLS# 80836968 - Property Details
$699,000

* Status: Active
* Bedroom: 4
* Bathroom: 2
* Year Built: 1951
* Lot Size: 9147
* Square Footage: 1219
* List Date: 9/29/2008
* Garage Spaces: N/A
This home is ready to be reborn. Located in an area with large lots and lots of potential, imagine the possibilities. Laurelwood Elementary, Peterson Middle School and Wilcox High School.

Thanks to Burbed reader madhaus for this find. Here’s the comments:

this house admits it’s a teardown, only $49K more
than the last house for a 4/2 you won’t want to live in
but huge lot.

also Santa Clara schools in 94087.

So… is this priced fairly? Is this a good investment? It’s hard to do a price per square foot since I can’t divide by zero (just yet anyway) - but still, $700k is a hefty chunk of change.

Would you buy it and tear it down? Is this overpriced? Or is this underpriced?

Wow, this sounds like a high school essay question. “Please compare and contrast this house, with yesterday’s house…”

312 S Pastoria Ave, Sunnyvale, CA 94086 Sunnyvale MLS# 80787363 - Property Details
$1,219,000

* Status: Active
* Bedroom: 4
* Bathroom: 3
* Year Built: 2005
* Lot Size: 5800
* Square Footage: 1992
* List Date: 3/27/2008

* Garage Spaces: 2
VERY GOOD CONDITION HOME,REBUILT,EXPANDED RECENTLY W/ ALL NEW MATERIALS,OLD HOUSE COMPLETELY DEMOLISHED.HOMESTEAD HI-SCHOOL,WALK TO WASHINGTON PARK,STRATFORD SCHOOL,LIBRARY,CITY HALL,BUS LINE,NEW SUNNYVALE MALL.FEATURES STAINLESS APPLIANCES,GRANITE KITCHEN COUNTERS,MODERN KITCHEN CABINETS,PLANTATION SHUTTERS,ALL HARDWOOD FLOORS,BATHROOMS W/MARBLE/GRANITE FLOORS & WALLS,CROWN MOULDINGS. COME & SEE.

Burbed reader nomadic thinks that I have some sort of pink house obsession, just like how some other think I have a Tenafly obsession. That’s really not the case, but let’s just look at this amazing house.

First, you should know that this house was built pink - and with all new materials too!

Second, you should know that this is $612 per square foot - definitely in Real Bay Area.

Finally, it’s right near the new sunnyvale mall. Now, here in Silicon Valley, we’re used to everything being in Alpha or Beta - so this should not surprise anyone that it is a pre-announce.

All in all, a typical price for a very untypical house color.

Just waiting to be overbid if you ask me…

Mountain View Voice Mountain View Voice: Mayfield Mall developer could be bowing out (October 17, 2008)
Toll Brothers, the high-flying nationally ranked home builder that was retained by Hewlett-Packard to develop a huge housing project on its 27-acre Mayfield Mall site, appears to be on shaky ground in its involvement with the project, saying it cannot build the required tunnel to the train station or pay the land price it had negotiated with HP.

Toll Brothers spokesperson Jo Price said the $6 million tunnel — which would connect the San Antonio station to the project at 100 Mayfield Ave. by going under Central Expressway — was no longer feasible, a sentiment that could kill the project altogether.

Congrats to the citizens of Mountain View for successfully defeating this monstrous project. Their efforts at finding any and every possible reason to stop the project or make it incredibly expensive was absolutely heroic.

Everyone knows that houses are no longer appreciating at 9% a year in the Real Bay Area. Is now really the time to build more housing? Seriously.

Congrats citizens!

Now… about that campaign to get rid of jobs as well!

Foreclosures add to tight rental market - San Jose Mercury News
Record numbers of Silicon Valley homeowners have been foreclosed upon this year, and most must seek rental housing once they leave their homes. If tenant-occupied houses are in foreclosure, tenants nearly always get evicted, pushing them into the rental market again. And many renters who could afford to buy homes size up the bleak economy and opt not to take on mortgages and home ownership.

The result: It’s a competitive market for those seeking reasonably priced rentals, and it’s a pretty good time to be a landlord.

[snip]

Average apartment rents rose 5.2 percent in Santa Clara County in the third quarter, to $1,708 a month, according to RealFacts, a Marin County firm that measures average monthly rents for all types of units in complexes of at least 50 units.

But rent increases in the third quarter were not as steep as in the second quarter, a sign of the softening economy. And RealFacts said apartment complexes were 95.6 percent full in the July-to-September quarter, down from 96.7 percent a year earlier.

One reason apartment occupancy rates are slipping is that more single-family houses are coming onto the market as rentals, said Joshua Howard, executive director of the local division of the California Apartment Association. Some of those houses are previous foreclosures that were purchased by investors.

Sweet! It’s now a great time to become a landlord. Once the economy gets a little better, rents will soar and instantly start racing with house prices to see who can win the title of “biggest increase per year.”

Man oh man… 2009 is going to party like 1999! You read it here first!