October 3, 2008

A photo of Gables End in Mountain View

Thanks to Pralay for taking this photo ago.

As readers of this blog know, Gable’s End is featured frequently because it’s constantly selling out. Over and over again. It seems like they’re always selling out and close to running out of homes. How curious!

Anyone know what the latest scoop is with Gable’s End? Does anyone want to drop by this weekend and give Burbed a report? Are they sold out again?

Comments (60) -- Posted by: burbed @ 5:16 am

60 Responses to “A photo of Gables End in Mountain View”

  1. Herve Says:

    Are these the giant sold signs you were talking about?

    Again, congratulations Gables End! See you in November!

  2. RealEstater Says:

    Pralay is a stalker!

  3. Herve Says:

    I think Pralay is a googler who took the picture from his building on Plymouth while managing a multi-billion dollar project and juggling with chainsaws.

  4. Pralay Says:

    As it came to Google topic, actually all the buildings in the triangular area between 101, Charleston Road and Alta Ave are Google offices. All these giant signs are directly facing towards Google buildings. So these signs are not only attracting 101 drivers, but reminding Google employees everyday “Buy me, buy now, don’t get priced out forever“.

  5. nomadic Says:

    Maybe they ought to change the sign from “Now Selling” to “Now for Sale” to make it more truthful.

  6. bob Says:

    Ya… I’m sure that if someone bought one of those, they’d want to have a big pink cardboard sign in the window that says “SOLD!”

    A few weeks ago, a house thats been sitting for months sold. The realtor’s “sold” sign had a smiley face for the “o”. Oh no! Makes me scared that if I don’t buy now, Mr. Smiley face will get me!

  7. nomadic Says:

    bob, there’s a new relisting on my way to work that has the irritating “Honey, Stop the Car” sign hanging off of it. Do they really think that will inspire someone to buy it? The other one that cracks me up are the ones that say “I’m Gorgeous Inside” and it’s always a house that has zero curb appeal.

  8. madhaus Says:

    Honey, stop the car! I’ve never seen one of those.

    You know, I was really ticked off at the agents who sold us our house because I really wanted a photo of our house with the for sale sign in front, with a little “SOLD” on top. And we had an incredibly long closing, because the sellers demanded it due to their travel schedule. So the agent had weeks to put the little SOLD doohickey on the sign, and never did so. I swear, every other house around here I’ve seen listed gets a “Pending” or “Sold” add-on which stays up for weeks.

    When we moved in, the agent lockbox was still there! We called to ask them to take it away pronto. So the morning after we moved in, we went outside to take a photo of the For Sale sign, but it was gone. (Still did not have a SOLD sign.)

    So here’s your story of one home buyer who was miffed about no SOLD sign.

    Can’t visit Gable’s End this weekend. I did a whole report on Voss Avenue for you guys last weekend!

  9. sonarrat Says:

    I’ve been keeping my eye on the market around me (Avalon Park, South San Francisco). There’s a condo complex at 455 El Camino Real that is dead-on exactly like my apartment building. It’s a little newer, but the insides of the units are near identical. Last year, a unit on the top floor sold for $375K. Now there is a short sale in the same building, #205 (bottom level, first floor is a garage) for $275K, and there are two other condos in the city priced around $210K.

  10. cardinal2007 Says:

    Both San Bruno and Daly City are less expensive than South City. Shelter Creek is certainly settling at lower levels.

    Here in Belmont the selling prices have fallen from last year, condos at both Continentals and Davey Glen sold for 370-380k last year. The ones I know closed this year were around 325k-338k, there is currently one priced at 369k, and another at 330k, no other condo inventory in Belmont. SM is cheaper, and might be a good value incomparison to SSF, or Belmont.

    The condo fees are crazy high in the Peninsula though, and very high assessments aren’t unheard of.

  11. sonarrat Says:

    Agreed that South City is on the pricey side. Part of it is because the schools are rated higher – 455 El Camino Real has Buri Buri Elementary and El Camino High, which are a damn sight better than anything in Daly City. But you’ll pay about half as much for real estate as you will in Millbrae or Burlingame.

  12. RealEstater Says:

    Gables End Ad from the Mercury News:

    *******************

    Gables End: the ultimate best deal in Mountain View

    Gables End just opened its doors a few months ago and is already down to the last four homes in Phase 1. This beautiful residential community offers buyers an incredible value with townhomes priced from the low $600,000s.

    Regis Homes is excited to be able to offer a low price on these value-packed homes. This is your chance to act now to own a brand-new home in the greater Bay Area.

    The time for renting or settling for less is gone. Because these homes are in such a wonderful area, Mountain View, and have such great style, they are in big demand but limited supply. Townhomes start in the low $600,000s for three- and four-bedroom plans with an attached, private two-car garage. Hurry in to check out the last remaining homes in Phase 1. These values are a steal!

  13. Alex Says:

    > These values are a steal!
    No crap! It’s definitely a steal… from Chinese banks who were stupid enough to lend money to you to buy those shacks. :)

  14. DreamT Says:

    value-packed homes? Isn’t valpak some cheap kind of discount coupons? Who’s the targeted audience here? :)

  15. anon Says:

    “value-packed homes? Isn’t valpak some cheap kind of discount coupons? Who’s the targeted audience here? :)”

    Kids (in their 20′s) who grew up on lunchables, shop at target, think wal mart is a place to go for groceries, and think $500,000 for a townhouse in the ghetto is a good deal.

    That’s my guess.

    Gables end again, eh?
    Gosh. So everyone’s having trouble moving homes but Gables end? Those 4 must be really bad units cuz they’ve been on sale for ever.

    This got me thinking. Since the developer owns them, they could probably only put up 4 for sale at a time. The other ones could just be “demo units.” What, oh you want that demo unit? Here, we’ll just list it so you can buy it! But, since its not listed, we’ll have to charge you a listing fee…

    Someone should slap these assholes with a lawsuit just to add insult to injury.

  16. RealEstater Says:

    Guys,

    They are down to the last 4 homes. The market doesn’t agree with you.

  17. cardinal2007 Says:

    Maybe there is something wrong with the last 4 units? Perhaps there are 5 units facing the highway and only 1 sold, and so it is really hard to sell the other 4.

    Perhaps they just have bad luck, or have been lying for sometime about how many units they have yet to close? I don’t know but something is up, it seems that they have been trying to sell the last 4 units for 4 months now?

  18. DreamT Says:

    Anthropoghagic units. Previous buyers hadn’t read the disclosures too closely. Mutation is explained by the residual underground contamination. Nothing that a small nuclear bomb wouldn’t clear out.

  19. Pralay Says:

    They are down to the last 4 homes. The market doesn’t agree with you.
    ————

    Our Chuckie carefully omitted the word “Phase 1″.

    That “last 4 homes” was valid one month back and I guess it will still be valid in November.

  20. RealEstater Says:

    DreamT,

    Have you seen this thread on Trulia?

    http://www.trulia.com/voices/Home_Buying/I_am_interested_in_purchasing_a_townhome_in_the_ne-22939–

  21. RealEstater Says:

    Cardinal2007 says,

    >>Perhaps there are 5 units facing the highway and only 1 sold, and so it is really hard to sell the other 4.

    Look at it this way, with those units you don’t get neighbor on one side.

  22. RealEstater Says:

    Of course, the only problem is people like Pralay peeking in your bedroom.

  23. anon Says:

    and a god damn highway just outside your window.

    Ahh, lovely bay area breeze!

  24. anon Says:

    DT, don’t you love this thread?

    http://www.trulia.com/voices/Home_Buying/I_am_interested_in_purchasing_a_townhome_in_the_ne-22939–

    Quality people frequent quality websites. I am constantly amazed at how astute their questions are. I like: ”
    Dear Buyer,
    Where is Mountain View?

    Thanks
    Terry”

    Well, Terry if you weren’t a blithering idiot, you could look it up using something called a search engine.

    This one’s great also:
    “Realtors, what does this mean? Will Gables End be a good buy?”

    Hey! let me field this one, coach! “Yes, now is always a good time to buy.”

    Phew. And I didn’t even need a real estate broker’s license to say that.

  25. DreamT Says:

    RealEstater – We have discussed superfund sites and cleanup status extensively in previous burbed postings about Gable’s End. The claim is that the location is fully cleaned up (while the immediate neighbors probably aren’t).
    In all seriousness, there’s got to be mutation hazards for newborns in some parts of the silicon valley. We’ll know, someday.

  26. DreamT Says:

    anon – You mean, not Mountain View, Alberta? Or one of the two in Wyoming?

  27. cardinal2007 Says:

    There is also another Mountain View in the Bay Area:

    en.wikipedia.org/wiki/Mountain_View,_Contra_Costa_County,_California

    It is a popular name, en.wikipedia.org/wiki/Mountain_View

  28. anon Says:

    No, i meant the 4th link down when you google search

    Maybe I misinterpreted his question. Could he have been soliciting hiking advice? A place where there is a nice view of a mountain? I suppose that could be anywhere.

  29. anon Says:

    Search string: Gables mountain view.

    The existence of the other mountain views doesn’t legitimize his question, guys.

    At least, not unless you’re the chuckster.

  30. DreamT Says:

    anon – Yes, we know the poster was googlely illiterate. But then, so is 80% of my family.

  31. WillowGlenner Says:

    I never use trulia except for laughs. Trulia exists because Redfin and Zillow already had their business models, and Trulia determined that both of these excluded agents, so Trulia’s (and Movoto’s) niche is to INCLUDE agents. But it is extremely annoying reading the endless agent trolling for business that goes on there. Once is a while somebody will post something like- “Bobby, to answer your question, you can get all this info on the web and save 40K if you use Redfin, real estate agents are a waste, avoid them”, which illicits DOZENS of responses from the RE trolls, all saying basically the same thing, “I don’t want to install my own roof, so I use a roofer, I don’t want to pave my own driveway so I call a paver, well Real Estate is like that”, except Real Estate is NOT like that. The day the real estate industry dies a painful death will be too soon for me, and I’m a real estate investor! It seems to be already happening in this bad RE climate.

  32. anon Says:

    “anon – Yes, we know the poster was googlely illiterate. But then, so is 80% of my family.”

    No comments regarding your family…the guy was obviously able to find the location and then ask. What’s he going to do – wait refresh it every couple hours until someone posts his answer?

    Take a look at this:
    http://farm4.static.flickr.com/3159/2807838577_83cbed0126_o.jpg?t=1053139

  33. DreamT Says:

    anon – That was hilarious. Thanks :)
    Well how many posters abuse the refresh button on burbed anyway?

  34. RealEstater Says:

    Here’s another fun read on Trulia.

    http://www.trulia.com/voices/Market_Conditions/i_would_like_to_know_if_this_is_a_good_time_to_buy-59019–

    The topic is whether now is a good time to buy in Palo Alto. Here are some excerpts:

    >>Unlike Los Angeles, we have an immediate geographic limit to supply, a.k.a., the peninsula. It is that geographic limit on supply that has helped keep demand up and prices stable in many areas.

    >>there has been a shortage of inventory in the towns of Atheron, Menlo Park, Palo Alto, Woodside, and Portola Valley. These homeowners do not need to sell, so they aren’t.

    >>If you are a quilified buyer who has the desire and goals to live in Palo Alto, then right now is the best time to do it.

    >>The market will always go up and down but it has been shown that home values are most likely to double every 10 years. You have the most to gain right now than any other time in the past 15 years.

    >>Remember, the wealthiest people of the late 40s-70s we brave enough to buy real estate during the Great Depression.

    >>Buying in Palo Alto is always a good thing.

    >>Over a 5 year period, there is a very good chance your purchase now or in 2008 will prove to be a wise financial decision.

    >>This might be one of the best times to buy in Palo Alto.

    >>Any time is a good time to buy.

    >>The real estate market in Santa Clara County is definitely picking up. From the tax credit bill to the bail out of Fannie and Freddie Mac, more buyers are coming out of the woodwork and are taking advantage of the continued low home prices and low interest rates. Multiple offers are no longer a thing of the past.

    >>Because of the overwhelming advantages of home ownership, both the financial aspect, but also quality of life issues, it is almost always a good time to buy.

    Disclaimer: The above comments were not written by me!

  35. DreamT Says:

    “Multiple offers are no longer a thing of the past.”
    I hadn’t realized that multiple offers were recently a thing of the past, especially in Palo Alto. This sounds more like a cheerleading comment than a well-researched, founded observation.

  36. RealEstater Says:

    DreamT,

    Look at the context. She was referring to Santa Clara County as a whole.

  37. DreamT Says:

    The context is set by the question:
    “i would like to know if this is a good time to buy a house in palo alto! or i should wait next year 09!!”
    and the site section
    “Real Estate Q&A in Palo Alto”

    In any case, Palo Alto IS PART OF SANTA CLARA COUNTY so if it was exempt from a derth of multiple offers, this fact alone would invalidate the statement applied to Santa Clara County as a whole. Capisce?

  38. WillowGlenner Says:

    uh thanks RE, I think. You just reminded me why I don’t like Trulia. As far as that agent saying things are heating back up in the bay area, seems like they might be drinking some funny water. The truth is RE always slows down this time of year and this year is no exception. I was expecting a flood of REOs and that hasn’t happened at all (at least in the low end). Yes there are REOs, but the flood was in May-July not now. I receive the REDC auction catalog and the recent one was about 1/4 the size of the last two. Maybe the fact that the REOs aren’t flowing like a rainstorm out of the banks means there are a few offers on some existing properties but in general things are slowing not picking up. We’ll have to wait and see what happens in the spring, if we are starting to recover from the recession then I predict a good RE market, otherwise another bad year. The wildcard is interest rates. For what its worth rents haven’t fallen at all since I rented my last place.

  39. WillowGlenner Says:

    DreamT, it wouldn’t surprise me in the slightest if one of the Real Estate trolls on trulia tried to imply there were multiple offers at Gables End right now. Just reading the trulia Q&A section is an amazing lesson in the number of different ways someone can try to say that their profession, or the services they provide, no matter how insignificant on its face, is the key difference between success and failure in life. If anyone ever doubts that the real estate profession is full of a bunch of self important blowhards, read Trulia.

  40. RealEstater Says:

    WG says,
    >>I was expecting a flood of REOs and that hasn’t happened at all

    I say when the stuff you’re looking for is not there, don’t push it. Just be patient, and have the cash ready. Sounds like you have enough property on hand anyways.

  41. WillowGlenner Says:

    RE I only buy properties that have a certain specific set of characteristics, they have to be cheap, and on fairly decent lot sizes (usually 8K or more), so those are pretty hard to come by just in general. So nothing at the moment, and here it is October. Other investors have come into the market, too, drawn out by the high rents. From all I’ve read it looks to be a serious recession but we shall see about that. A whole host of very serious matters will be resolved with an Obama presidency. Obama will shut down these wars that are costing billions every month, next they will work on healthcare which costs the US economy about 2 trillion per year- cut healthcare by half and insure everyone at the same time, and finally Obama will push green energy. Those 3 things war,healthcare and energy could transform the entire economy. I wouldn’t rule out surpluses if we could just get a handle on those 3 things.

  42. Pralay Says:

    Of course, the only problem is people like Pralay peeking in your bedroom.
    ————-

    Only one problem in that. Pralay cannot peek from 101-N in 70mph.
    That peeking job I would leave it to our Chuckie who has his favorite habit of going to open houses in every weekend and peeking in neighbor’s houses.

    That explains why Chuckie calls himself “investor” but shows no sign of buying a property “by year end”. Old habit does not go away easily. Poor Chuckie.

  43. DreamT Says:

    RealEstater – WillowGlen’s description sounded quantitative (“a flood of REOs”) rather than qualitative (“the stuff you’re looking for is not there”). With REOs, I speculate that quantity is the primary price driver as banks try to be competitively priced, whereas for standard, non-distress sales, quality is the primary price driver (ROI matters as much as time). So I suspect WillowGlen is merely frustrated at the paucity of the deals and the multiple offers that accompany them as a result, rather than at the absence of these deals.
    WillowGlen feel free to correct my bucket of wild assumptions.

  44. DreamT Says:

    “nothing at the moment”
    well nevermind my post after all:)

  45. Pralay Says:

    Disclaimer: The above comments were not written by me!
    ———–

    Disclaimer 2: Chuckie does not endorse those viewpoints either. Afterall those are not written by “average hitech guys”, but Realtors.

  46. Pralay Says:

    This sounds more like a cheerleading comment than a well-researched, founded observation.
    ———–

    In all the lines Chuckie quoted, my favorite is:

    Any time is a good time to buy.

    Above line is so FULL of information about current Palo Alto market that Chuckie just could not leave it. He had to quote it.

  47. Pralay Says:

    The context is set by the question:
    “i would like to know if this is a good time to buy a house in palo alto! or i should wait next year 09!!”
    and the site section
    “Real Estate Q&A in Palo Alto”

    ———–

    Oh DreamT, don’t you know that anything that contradicts Chuckie’s argument is definitely based on “aggregated” and “useless” data and normally coverw either whole bay area or whole SC county. :)

  48. nomadic Says:

    RE, WG, – here’s an auction for you this Sunday: http://www.redfin.com/CA/San-Jose/5549-BLOSSOM-DALE-Dr-95124/home/911534

    It looks like an odd layout but it’s practically Los Gatos and only $209/sf. If you go to the virtual tour link, it has a semi-readable floorplan. I think you could get $3k/month in rent. (Not that I know anything about investing in rentals.)

  49. anon Says:

    So ironic that its a good time to buy and yet prices hasn’t dropped. GOSH THE DEALS ARE ALL OVER THE PLACE. You really can’t go wrong! Buy property!

    >>The market will always go up and down but it has been shown that home values are most likely to double every 10 years. You have the most to gain right now than any other time in the past 15 years.

    Real estate has only been shown to double every 10 years in the past 15 years. This statement is trash.

    >>Remember, the wealthiest people of the late 40s-70s we brave enough to buy real estate during the Great Depression.

    Yes, that’s DURING. Not right before or in the beginning (which is likely where we are now). When nobody has cash, it is a good time to buy. This is not the case right now. It will be a good time to buy when there is no RBA left.

    >>Any time is a good time to buy.

    Who doesn’t love this quote? Real estate brokers, lenders, everyone. Look at the mess this got everyone in. It’s pretty wonderful. Awww, you mean I have to have some skill to make 6 figures? Well, jeez, this isn’t the American I want to live in.

    “If anyone ever doubts that the real estate profession is full of a bunch of self important blowhards, read Trulia.”

    Outstanding quote, WG. You characterized them well, and it really is true they have nothing to offer. What’s sad is that they were making far more than they were worth for the past 15 years. Times will change – and I am hopeful that their limited intelligence caused them to blow their cash rather than save it.

    “Disclaimer 2: Chuckie does not endorse those viewpoints either. Afterall those are not written by “average hitech guys”, but Realtors.”

    So what are you saying, Pralay? Who should I rely on for investment advice? High tech guys or real estate brokers? Gosh, I’m so confused! One is in the market, but the other is on top of the high tech industry! Both seem like they really would know when is a good time to buy.

    With respect to the limited quantity of REOs, WG remember: Banks move slowly. Working these things off their balance sheets takes a long time. Also, there is probably motivation to delay selling it as real estate does tend to appreciate with time. The longer they hold out, the better. Not only that, selling an REO or two is not going to keep a bank solvent, so they’re probably not rushing to get rid of these so as to keep themselves in business. Banks aren’t extremely motivated to sell either. Not only that, imagine how preoccupied they must be with making sure they stay in business. Call me crazy, but I don’t imagine foreclosing on people is the top of their priorities right now.

    Happy Friday, everyone. It has been another wonderful week of property depreciation.

  50. anon Says:

    Hey Burbed, how do you feel about a new mantra day? One in which we re-write the “tried and true” “wisdom” of the real estate market?

  51. RealEstater Says:

    Nomadic says,
    >>It looks like an odd layout but it’s practically Los Gatos and only $209/sf.

    No such thing as “practically Los Gatos”. The address is clearly San Jose, and priced accordingly. Can you say Redwood City is practically Atherton? EPA is practically PA? Sunnyvale non-CUSD is Sunnyvale CUSD?

    This is real estate 101 if not common sense 101.

  52. WillowGlenner Says:

    No thats correct DreamT, all I was saying was that I can’t find what I am looking for, despite thinking that this fall would be the mother of all real estate foreclosure markets. It was much better trying to buy these in May, because nobody wanted them then, since they thought we were going to get 10x the number we had in may- now. Not happening at the low end.

    Thanks for that auction nomadic, I will take a look at it, looks interesting. My ideal investment is small cheap house on large lot though, so this is out of range. Odd format a single auction like this. Not a foreclosure, somebody just wants to get it off their hands.

  53. burbed Says:

    The SOLD signs at Gable are gone. I guess people moved in?

  54. DreamT Says:

    The soil contamination controversy is alive and peachy:
    http://www.ktvu.com/news/17623450/detail.html

  55. nomadic Says:

    RE “practically” Los Gatos means it is right on the border of LG, and is indeed surrounded by LG on three sides. If you knew the area at all (clearly you do not), you would know that SJ take a weird jog there – so a block to the E/W/S is LG. The schools are Campbell Union (runner up to true LG) but shared with about 1/3 of Los Gatos.

    $209/sf is cheaper than you find in crappy parts of East San Jose. Not that I expect it’ll actually sell that low, but at $700k it’s a bargain.

  56. RealEstater Says:

    >>RE “practically” Los Gatos means it is right on the border of LG, and is indeed surrounded by LG on three sides.

    OK, so it’s near some undesirable part of LG, which is practically in San Jose, and shares Campbell schools.

    There are parts of Saratoga that’s right next to Campbell, and shares Campbell schools. Homes on the Saratoga side, even though they have Saratoga address, are not priced like Saratoga.

  57. anon Says:

    “The SOLD signs at Gable are gone. I guess people moved in?”

    I called. They have 2 demos and 2 units available. (4!) The completed units are still “at phase I pricing.” Later in the conversation, I was told they are “accepting, er, um welcoming offers.”

    I am going to buy both. Stay away you bastards!! Stay away from my dream.

  58. Herve Says:

    If they really want to attract googlers they have to forget about phase 1. It should be Gables End (BETA).

    Imagine some people moved in and just found out about burbed.com… Oh, snap!

  59. madhaus Says:

    Dang, this is another thread I didn’t post in all weekend. Remember, there are four houses left in “Phase I.” Anyone want to guess how many total houses were in Phase I? I’m going to stick my neck out and guess “four.”

    Practically Los Gatos? Well in that case, I practically live in Cupertino, so there.

  60. anon Says:

    And I, living in the south bay, am practically Beverly Hills.


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