Last Saturday, Burbed recommended: Why the Real Estate Boom Will Not Bust – And How You Can Profit from It: How to Build Wealth in Today’s Expanding Real Estate Market

Today’s choice?

Rich Dad, Poor Dad

You’ve heard the controversy – why? Because others don’t want you to know the secrets to success. They want to keep you down, and Kiyosaki will help you defeat them. You’ll defeat them even faster if you buy all his other accessories, and attend his lectures too.

Become rich today!

What book should Burbed feature next Saturday?

149 LLEWELLYN Ave, Campbell, CA 95008 | MLS# 80905491
149 LLEWELLYN Ave Campbell, CA 95008
Price: $1,289,000

Beds: 4
Baths: 3
Sq. Ft.: 3,181
$/Sq. Ft.: $405
Lot Size: 9,072 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Year Built: 2009
Stories: 1
View: Neighborhood
Neighborhood: Campbell
County: Santa Clara
MLS#: 80905491
Source: MLSListings
Status: Active
On Redfin: 14 days
Open Saturday 2/14 1:30-4:30pm. Brand new custom built home in the heart of Campbell. Constructed with attention paid to detail for the fussiest of buyers who want to move in and put their feet up. High ceilings, custom crown moldings, 2 clean air certified fireplaces, top of the line GE Appliances, built in espresso machine.

People ask me all the time – Burbed, what’s the next hot area to buy into?

My answer? I have no freakin’ clue.

Burbed reader Eric does though – look what he’s found in Campbell! Holy moley! It’s a 3000 square foot house that’s $1.289 million! It’s even got 2 clean air certified fireplaces – for all those times that you need to use a fireplace in the Bay Area!

Wow… even built in espresso machines. This is hot hot hot.

With more houses like this, Campbell might just be entering Real Bay Area territory soon!

Recruiters Are Sending Out Their Own Résumés – NYTimes.com
The majority of the approximately 90 recruiters who attended the networking luncheon were in the same situation. The monthly luncheon, now in its 11th year, has long been a source of job leads for countless recruiters, and many showed up last week with the faint hope of hearing about an opening for themselves. What they found were old friends, unemployed colleagues and words of encouragement. They also got a few tips on adapting their skills to other professions and one offer for affordable health care.

“It was pretty hard to see so many people in the same situation,” Ms. Lovell said.

There are no precise counts of recruiters in Silicon Valley, and no one knows how many are unemployed. But interviews with more than two dozen recruiters suggest that the recession has slammed the profession particularly hard, both here and across the country.

Scores of recruiters have been let go in recent months and new positions are virtually nonexistent. Those that pop up attract as many as 500 applicants. And rates paid to recruiters, many of whom work as contractors, have fallen by about 50 percent.

“Recruiters are kind of the canary in the coal mine,” said John Moed, who moderates an online group for San Francisco-area recruiters that has about 3,700 members. “When things are great, the bird is singing away and you can’t find enough recruiters. But they are the first to go when things are slow.”

First indeed. Consider Google, a company that in 10 years had never laid off employees because of economic conditions. In its first round of recession-related job cuts last month, it fired 100 recruiters.

The malicious NY Times will obviously try play up any weakness in the Bay Area. It’s their attempt to attack us and keep us from rising up to beating Manhattan in our quest to have the highest housing prices in the nation.

This is just another example. Recruiters? WHO CARES?

Has anyone gotten a job through a recruiter here? Of course no. People get jobs from applying online, or… they’re so brilliant that the VPs of companies reach out to them directly. Or they start their own company and then get acquired. Don’t be fooled by this red herring!

738 Crompton Rd, Redwood City, CA 94061 Farm Hills Estates MLS# 80838122 – Property Details
738 Crompton Rd, Redwood City, CA

$725,000

* Status: Active
* Bedroom: 3
* Bathroom: 1
* Year Built: 1951
* Lot Size: 6375
* Square Footage: 880
* List Date: 10/5/2008
* Garage Spaces: 1
* MLS#: 80838122
Welcome to Farm Hill Estates! Tranquility & endless possibilities await you in this 3 bedroom, 1 bathroom house. Beautifully updated ? Upgrades include granite countertops and refaced cabinetry, double pane windows, new carpet and paint, and lovely landscaping. Enjoy the peaceful setting ? pristine condition, rear deck with arbor, and flat, large backyard.

Farm Hill Estates. With a name like that, one would envision rolling pastures, barns, idyllic fields. And lots of speeding tickets.

Burbed reader Sonnarrat thought it was a bit peculiar that this is $823 per square foot – but let’s face it… it is west of Alameda.

And, unlike a few streets down, you can be pretty sure this will be peaceful. Good deal? You decide…

After watching President Obama’s speech last night, I decided to go back and look through the details of the Foreclosure Bailout… errr… Homeowner Stability program. Now, we know that it won’t be helpful for an area like the Real Bay Area – where there are almost no foreclosures, and where prices are magical.

But what do you think about the Foreclosure Bailout? Is this a worthwhile endeavor in the grand scheme of things? Are you outraged?

Please keep it civil… thanks!

1566 PLATEAU Ave, Los Altos, CA 94024 | MLS# 80844204
1566 PLATEAU Ave Los Altos, CA 94024
Price: $1,725,000

Beds: 6
Baths: 3.5
Sq. Ft.: 4,110
$/Sq. Ft.: $420
Lot Size: 0.28 Acres
Property Type: Detached Single Family
Style: Contemporary
Year Built: 1978
Stories: Tri-Level
View: Mountains, Neighborhood, Golf Course
Neighborhood: Country Club
County: Santa Clara
MLS#: 80844204
Source: MLSListings
Status: Active
On Redfin: 101 days
Unsold in 90 days
Stunning contemporary home with spectacular views of mountains and golf course featuring a chef’s gourmet kitchen w/ Sub Zero, Viking, wine refrigerator, large center island, separate LR/FR w/ fireplace, formal dining rm, vaulted ceilings, luxurious master suite w/ marble flrs & counters, sunken jetted tub, large marble stall shower. Limestone & hrdwd flrs, spacious bedrooms w/ built-ins, decks

Burbed reader Justin Sane had this to say:

Is Los Altos not part of RBA? Do we need a RLA? Because foreclosures do not happen in the RBA, right? Yet, I see a
bank owned foreclosure mansion listed in Los Altos. Right next to the golf course too.

Good question… I don’t know! Let’s look at some more data:

Wow. I must say that this is pretty concerning. Again with the roller coaster prices.

Fortunately, this is just one house in Los Altos – and one house does not make a trend.

1093 PLAZA Dr, Sunnyvale, CA 94089 | MLS# 80844896
1093 PLAZA Dr Sunnyvale, CA 94089
Price: $546,200

Beds: 3
Baths: 1
Sq. Ft.: 1,086
$/Sq. Ft.: $503
Lot Size: 5,250 Sq. Ft.
Property Type: Detached Single Family
Year Built: 1953
Stories: 1
View: Neighborhood
Neighborhood: Sunnyvale
County: Santa Clara
MLS#: 80844896
Source: MLSListings
Status: Active
On Redfin: 96 days
Unsold in 90 days
Just Lowered!! New Kitchen, brazilian hardwood floors, granite counters, new appliances, new comp roof, spacious floor plan includes three french doors one in each bedroom leading to the deck and spacious backyard. Entertain your guest with 42″ FLAT PANEL PANASONIC T. V. INCLUDED IN LISTING!

Wowsers! A free 42″ Flat Panel Panasonic T.V.! OMG! But wait… there’s more!

Let’s take a look at the view from the front yard of this house shall we?

Hm… what is this mysterious location? Is it some sort of gathering place? Let’s drive around the corner and take a look!

Oh. It’s the Brass Rail.

Um. Ok, let’s just stop here since Burbed is a family friendly site.

But before we go, here’s what Burbed reader Bill had to say about this house:

I think you will find this house an entertaining subject for a post because

1) its wildly overpriced – they expect a premium vs 2004 prices in this nabe?
2) it has a view of that Sunnyvale institution, the Brass Rail.  Literally, the front yard looks out onto a strip club.
3) the listing talks about entertaining your guests with a 42 inch Panasonic TV, included in the purchase price – great a $750 TV  with a half million dollar purchase
4) probably some good joke to be made about having guests over from the Brass Rail to watch your new TV

Hey… but just think of the social networking opportunities you can have if you bought this house! And there’s definitely a demand, given Ning’s new policies…

Few in Bay Area qualify in housing rescue plan
(02-22) 17:57 PST — More than 90 percent of Bay Area mortgage holders cannot qualify for the low-cost refinances included in President Obama’s housing rescue package, according to an analysis of loan data from real estate service Zillow.com.

That is the smallest percentage of people eligible for the refinances anywhere in the country, Zillow said.

“The Bay Area is being hit by the fact that it’s high-priced, and therefore the loans that were made around the peak years were not conforming (meaning they were above $417,000), and secondly, that (the housing market) has gone into such sharp decline that many homes are underwater by more than 5 percent,” said Stan Humphries, vice president of data and analytics for Zillow in Seattle.

…

Out of 117 metropolitan areas reviewed by Zillow, the Bay Area regions ranked at the bottom in terms of what percentage of mortgages would qualify – behind such pricey areas as Honolulu and New York, and also behind such foreclosure capitals as Stockton, Las Vegas and Florida.

Hurray! We, the Real Bay Area beats NY! Awesome!

I was hoping for this, and finally it came true! Awesome news all around!

Let’s bust out the champagne! (From Napa?)

105 KENSINGTON Rd, KENSINGTON, CA 94707 | MLS# 40394934
105 KENSINGTON Rd KENSINGTON, CA 94707
Price: $589,900

Beds: 5
Baths: 3
Sq. Ft.: 2,286
$/Sq. Ft.: $258
Lot Size: 6,630 Sq. Ft.
Property Type: Single Family Detached
Style: Contemporary
Year Built: 1965
Stories: 3
Neighborhood: KENSINGTON PARK
Area: Kensington
County: Contra Costa
MLS#: 40394934
Source: EBRD
Status: Price Change
On Redfin: 4 days
BANK OWNED: UNIQUE KENSINGTON REO. 5 BEDROOMS 3 BATHS WITH BONUS ROOMS. TRI LEVEL WITH VIEWS. HARDWOOD FLOORS UPDATED WINDOWS AND MORE. DON???T MISS THIS ONE

Kensington? Yipes, I had to look it up on a map to see where it was. Fortunately, Burbed reader Michael seems more familiar with the area, and thought I should be aware of this house specifically.

Why?

Because of this:

Now… I’m no expert on REOs or Kensington… so could someone explain to me what the heck is going on here? Talk about a pricing roller coaster! Yowsers!

Housing: Top 10 Most And Least Affordable Cities
Top 10 Least Affordable Cities

1. New York City, NY
2. San Francisco, CA
3. Nassau/Suffolk Counties, NY
4. Los Angeles, CA
5. Miami, FL
6. Santa Ana, Anaheim, Irvine, CA
7. El Paso, TX
8. Newark, NJ
9. Honolulu, HI
10. Seattle, WA

This is totally bogus.

How can someone break out New York and Nassau/Suffolk into two line items, but not include an entry for San Jose and the Real Bay Area.

The Real Bay Area deserves two spots on this list – not just one.

Please see: http://www.housingtracker.net/affordability/?sort=pct-income&dir=down

Sheesh. How insulting.