March 11, 2009

Be sure to find out what the name of the dog is….

203 MARGARITA Ave, Palo Alto, CA 94306 | MLS# 80908245
203 MARGARITA Ave Palo Alto, CA 94306
Price: $950,000

33888279-203
Beds: 3
Baths: 1
Sq. Ft.: 924
$/Sq. Ft.: $1,028
Lot Size: 6,016 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Year Built: 1949
Stories: 1
View: Neighborhood
Neighborhood: Ventura
County: Santa Clara
MLS#: 80908245
Source: MLSListings
Status: Active
On Redfin: 12 days
Home Improvement was done summer of 2005 with permits. Owner has a big dog named “Samson”. Palo Alto School district. Gunn HIgh School. Bike to Stanford University. Walk to California Avenue restaurants, shops, post office, and transportation. There are homes undergoing remodelling nearby.

It’s Wednesday – or as some call it, hump day! Thanks to Burbed reader Sam for helping to lift our spirits with this fine Palo Alto house.

Here’s what Sam had to say:

What’s better than paying over $1000/sq ft to live 100 yards from the CalTrain?  Knowing that the 4-year old remodeling job has been thoroughly vetted by a large dog!  Samson!  Get off that granite!

Hey! The Real Bay Area is known for being incredibly friendly to pets. It’s good to know that this house is already pet approved – that could’ve been another $10k easily!

But I think you’re missing the subtext. Did you know that in order to buy this house, you must not only overbid (DUHHH) – but you also have to get Samson’s approval? There ya go. You owe me one.

Again, this site is your best resource for learning how to bid on truly awesome properties like this.

Comments (87) -- Posted by: burbed @ 5:11 am

87 Responses to “Be sure to find out what the name of the dog is….”

  1. Herve Says:

    You picked the right day to mention Samson.

  2. Mike Says:

    $950K? I’d love to know what they’re thinking. They paid $433,000 back in July 2004. I don’t have detailed data for Palo Alto, but looking at the Case-Shiller data, overall prices across the Bay Area have dropped below 2004 levels. (Estimike.com says the property is only worth $336K, but that seems low to me).

    As for “Samson”, I think it’s just a warning to look out for him if you’re going to visit the property. Hopefully he’s not as bad as Bane & Hera, the dogs that killed the woman in San Francisco several years ago.

  3. Joe Says:

    This just shows that some parts of the RBA MORE than double in value in LESS than 10 years. Quite special indeed :)

    On another note, does your residential proximity (owner occupied of course) to Standford University correlate to your probability of admission to that prestigous university? Anyone have stats on that?

  4. R Says:

    Wow, listed for almost twice its bubble price. Good luck with that. Maybe they’ll get lucky and stumble across a knife-catcher.

  5. zanon Says:

    You all are underestimating the renovations. It used to be just a hole in the ground, that’s why it sold for so little in 2004.

  6. sv_newbie Says:

    If I am going to buy a house because Samson the great lived there, I want to know how Samson looks. Unless the listing agent puts a close picture of Samson, I’ll not even consider touring the property.

    Bubble has burst – mere words are not sufficient. Pic or it didnt happen.

  7. anon Says:

    Few houses actually motivate me to want to send a letter to the owner asking them what they are thinking. This one qualifies.

    I think sv_newbie is on to something – one of the most important elements of advocacy is to tell a story. Well, Samson’s story is worth another 500k.

  8. sonarrat Says:

    I’m surprised the listing doesn’t say “walk to Fry’s.”

  9. guy Says:

    At what distance is “walk to x” no longer appropriate? That stroll to Cal Ave and back will take 40 minutes..

  10. UnrealAlex Says:

    Close to Stanford as it may be, it’s a good neighborhood to have a big mean dog.

  11. nyc_to_rba Says:

    OK, since the schools are so faboulous in RBA, here’s a little SAT-style analogy for you all.
    great link.

    real estater:burbed = ryan jessup:sacbee.com

    http://sacramentolanding.blogspot.com/2009/03/ryan-jessup-sacramento-bees-latest.html

  12. anon Says:

    nice find nyc. rjessup appears just as eloquent, sophisticated, and ignorant as re.

    These are pretty fun:

    “No the market will not tank – sorry for people who want it too its simple math. what you would be paying for rent principle tax write off = Sacramento is not as overpriced as you would think. sorry andersb – the local economy does matter and the housing market is NOT the stock market. They are both assets but they ACT VERY DIFFERENT. People need to realize that the underlying factors that make them different but I will let you figure that out yourself.”

    “People have made MILLIONS on real estate. I don’t believe i know ANY wealthy renters but I know a TON of wealthy homeowners…”


    rjessup2mouse at 9:25 AM PST Wednesday, September 20, 2006 wrote:

    Home prices are close to bottom…Some really good deals are out there. Good areas seem to be closer to downtown…”

    “Thinking a 40% decline huh? your in for a big let down. And heck – that 40% you said was modest. why not bottom at 75%?? you should be able to pick up a 2000 sq foot for around $150k soon right? if you wait long enought maybe at $125k? Some people are absolutely nuts – how do you possibly think it could decline by that? how?”


    rjessup2mouse at 9:07 AM PST Sunday, December 31, 2006 wrote:

    …Smart money right now is saying that sac is going to do 0 to -3% for the year….”

    Looks like he’s about as accurate as RE.

    Too bad Pralay’s lowered his post output. He could have afield day drawing analogies between rjessup and rexcreter.

  13. anon Says:

    Willow Glenner and RE, are you there? I haven’t given up on you two yet. Do you remember last year when I told you exactly why you are wrong? Do you both remember when you said the market doesn’t “agree with me”? and that I was “preaching from the book of anon”?

    Well, the market is behaving straight out of the book of anon.

  14. nomadic Says:

    That pond pic is really sad (the pond, not the actual picture). It looks like a four-year-old built it. I wonder if the renovations were done to the same level of crapsmanship, er craftsmanship.

  15. Pralay Says:

    Sorry for all you “experts” out there who need to bash the bee and think the market is 53% overvalued. If prices drop 53% here I will buy 20 of them

    Personally, I am eagerly awaiting the arrival of the doom and gloom. To me, it’ll present a lot of great opportunities. However, everday I keep asking, why is it still not here?

    Or this one:
    Frankly, I would welcome a fall in prices, because it would allow me to buy another property on the cheap.

    ..There are too many good things about Sacramento for the market to tfall alot.

    There’s no bubble in the real Bay Area, because prices were up due to strong fundamentals,

    …I also agree there seems to be alot of negativity. Those generally come from people with a vested interest in seeing the market fall.

    If you hang around negative individuals, any day is a gloomy day.

    Can’t wait to see all “the sky is falling” comments in this thread shortly.

    If you had talked to me in 1992 when the market was down, I would’ve told you the same thing I’m telling you today, and you’d be jumping up and down saying the sky is falling as you’re doing now.

    The people who want housing prices to crash are people who have an agenda. So they try and add fuel to the fire and get joyful of a families demise, just be glad you are not them. There is alot of jealousy over missing the boat and not making $ while others made a lot of money.

    The people who have a stake, in my view, are those who have been priced out, thus hoping for a market downturn, so that they can take advantage of the situation.

  16. nomadic Says:

    nyc_to_rba – great job finding RE’s long-lost twin!

  17. Real Estater Says:

    anon/Pralay/nomadic,

    You guys are talking as though the RBA market has crashed. Are you all still day dreaming? Selective properties have dropped around 15%, but the market is quite balanced and normal, as opposed to crazy. As I traverse the city each day, I see For Sale signs come up, and I see them gone. Open Houses are very well attended. If you look around other cities in the RBA, the predicted inventory buildup never happened. That means supply and demand are well balanced.

  18. nomadic Says:

    Palo Alto inventory and DOM graphs here:
    http://www.altosresearch.com/research/CA/PALO+ALTO

    When the lines go up from left to right, that’s unfavorable.

    No one said the BA has crashed. At least not yet. To say everything is fine and normal is just dumb.

  19. Real Estater Says:

    #11,

    You can’t compare Sacramento to RBA. The underlying fundamentals are completely different. Many people living there don’t even want to be there, but ended up there because they couldn’t afford BA.

    The interesting part of the story is that the subject’s house was bought for only $430,000. He’s talking as though he lost the world. Good grief. His house was purchased for less than the price of a San Jose foreclosure property that WillowGlenner picked up. He’s throwing away his credit for a modest loss on a home that is perfectly livable? The guy is an idiot.

  20. anon Says:

    “The guy is an idiot.”

    LOL. You’re right, RE.

    How this guy sounds to you is how you sound to us.

  21. nomadic Says:

    Modest loss? His $430k house is probably worth about $200k less now. I’d hardly call that modest.

    Martha Stewart went to jail to avoid a smaller loss than that.

  22. Pralay Says:

    Ryan Jessup in sacbee.com

    In fact I have seen alot of Pending Sales in my area (East Sac) because some folks are swooping in to pick up $10-20k price drops…

    RealEstater in #17 above:

    As I traverse the city each day, I see For Sale signs come up, and I see them gone. Open Houses are very well attended.

    ————-

    Ryan Jessup in sacbee.com

    markets are dictated by emotion coupled with supply and demand.

    RealEstater in #17 above:

    That means supply and demand are well balanced.

    ——-
    Gosh, I am so impressed with the market analysis from both the guys! Only one difference – one guy is two year ahead of the other guy.

  23. Pralay Says:

    To say everything is fine and normal is just dumb.
    ———

    That’s because his definition of normal is different. 20% “real drop” from the peak is normal in RBA.

  24. Pralay Says:

    You can’t compare Sacramento to RBA.
    ———

    But Ryan Jessup’s Oak Park is Real Sacramento.

    The article-write correctly pointed it out by point #9 (“My neighborhood is special/great/different”) and all the green highlights.

  25. bob Says:

    You know what? People in the BA knock Sac an awful lot, but we go there all the time. I think its actually a pretty nice smaller city with an easy-going feel. That and it is close to the foothills. Auburn and Grass Valley are really great small towns that I’d personally trade anyday over the fake, overly gentrified “cute” towns in the BA.

  26. bob Says:

    Anon,
    You have to understand that RE and WG both have all their eggs in the housing value basket and come its failure, they would be wrong. Hence they can’t possibly be wrong lest they want to admit they perhaps made financially foolhardy decisions because they thought they could outsmart the market.

  27. Real Estater Says:

    When you hear someone make a statement, you need to see what’s backing it up. When someone says, “We are a super power”, it’s not the same thing when the U.S. President says it vs. when the Saddam Hussein says it.

    The guy who’s talking about Sacramento is like the other guy talking about Manhattan Beach. They think their town is hot shit just as Saddam Hussein thought he had a strong military. Only RBA is truly special, and the market reflects it.

  28. Herve Says:

    > At what distance is “walk to x” no longer appropriate?

    Anything further than the mailbox.

  29. nomadic Says:

    Only RBA is truly special, and the market reflects it.

    Manhattan Beach median price, January 2009:
    $1,575,000

    94301 median price, January 2009:
    $651,000

  30. Pralay Says:

    In #27, RealEstater says:

    Only RBA is truly special, and the market reflects it.

    In Sacbee.com, Ryan Jessup said in July 2006:

    There are too many things in Sacramento’s favor for housing to fall apart. I totally agree a price correction is currently happening.

    In August 2006:

    Sacramento will be ok.
    …..
    …..
    jobs are very healthy and growing in sacramento right now.
    …..
    …..
    Sacramento is not as overpriced as you would think. …..
    …..
    Seems some areas are already starting to rebound (midtown, east sac and med center area)…There are A LOT of buyers out there.
    …..
    …..
    There are too many good things about Sacramento for the market to tfall alot.
    …..
    …..
    I see you are a doomsdayer. Yes – even though the state is adding many jobs and employment is very strong in sacramento its going to all fall apart because….housing employment is down? ummm hate to tell you that construction employment is doing REALLY well right now.

    In Oct 2006:

    East Sac, Med Center, Midtown and Land Park have been selling alot lately. Closer to downtown seems to have gotten hot(relativly) in the last month and a half actually.

    RealEstater,
    That Ryan Jessup guy is two year ahead of you. You both talk exactly same. :)

  31. Pralay Says:

    When you hear someone make a statement, you need to see what’s backing it up.
    ——

    Hmmmm. Looks like this Ryan Jessup backed up his statements quite well:
    1. Job growth in Sacramento. State of California is adding lots of jobs.
    2. Lot of buyers out there in Sacramento.
    3. Too many good things in Sacramento.

  32. nomadic Says:

    ‘k, little change of direction. This article is kind of funny – it’s about the woes of builders competing with foreclosures. This part is priceless though; it just goes to show that some people haven’t learned a thing from this mess:

    “Our brand-new homes appeal to the buyer who wants up-to-date features, a chance to make their own selections like carpeting and paint colors,” a Pulte spokesman said.

    Some buyers clearly agree. “A foreclosure is like a used car,” said Danny Hernandez, who bought a new, $237,000, five-bedroom KB house in Beaumont, Calif., in the hard-hit Inland Empire. Mr. Hernandez, a 41-year-old warehouse worker, said the fact KB paid his closing costs and a nonprofit group subsidized his down payment helped make the sale.

    At least KB cut the size of the homes they’re building from an average of 3200sf to 1600sf to fit the current market conditions.

  33. anon Says:

    Hoo wee number 29 was well played

  34. nomadic Says:

    thanks, I do what I can. ;-)

    Forgot the link in #32:
    http://online.wsj.com/article/SB123672707657288607.html?mod=

  35. anon Says:

    “The guy who’s talking about Sacramento is like the other guy talking about Manhattan Beach. They think their town is hot shit just as Saddam Hussein thought he had a strong military. Only RBA is truly special, and the market reflects it.”

    Let’s be clear, re:

    You don’t know anything about wealth, class, or value.

  36. zanon Says:

    “a nonprofit group subsidized his down payment” which went straight to the developer. DAP is a total scam.

  37. Real Estater Says:

    anon says,

    >>You don’t know anything about wealth, class, or value.

    Who was the only person in this forum issuing strong buy signal for stocks when the Dow was at 6500? Who was the only person who bought at the bottom?

  38. sonarrat Says:

    You bought at that bottom. No indication that it’s the last one yet, other than vague glimmers of hope which will be blown away if GM or AIG go under.

  39. Real Estater Says:

    Sonarrat,

    It’s not just hope. Bernanke already said recovery is likely next year. In the unlikely event there’s another bottom, it would just be a second chance to scoop up more money.

  40. Real Estater Says:

    Pralay says,

    Hmmmm. Looks like this Ryan Jessup backed up his statements quite well:
    1. Job growth in Sacramento. State of California is adding lots of jobs.
    2. Lot of buyers out there in Sacramento.
    3. Too many good things in Sacramento.

    Except one problem. All these statements were backed up by — Sacramento!

  41. Pralay Says:

    Who was the only person in this forum issuing strong buy signal for stocks when the Dow was at 6500? Who was the only person who bought at the bottom?
    ———

    I think we should have a Hall Of Fame for bottom-callers. :)

  42. Pralay Says:

    Except one problem. All these statements were backed up by — Sacramento!
    ————

    But he was talking about Real Sacramento.

  43. anon Says:

    “Bernanke already said recovery is likely next year.”

    Yes, sonar. Bernanke said.

    Bernanke says: “Investors, help prop up the economy by putting your money in now.

  44. anon Says:

    “Except one problem. All these statements were backed up by — Sacramento!”

    And your statements are backed up by – Palo Alto.

    An equally shitty town.

  45. Pralay Says:

    It’s not just hope. Bernanke already said recovery is likely next year.
    ——

    This is what Bernanke said in May 2007:

    All that said, given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.

  46. MV_Bound Says:

    Re you’re such a fool it’s unbelievable.

    Of course, Nomadic, RE will say there are condo prices in Palo Alto that drive it down.

    Of course, Manhattan Beach is hot shit. The median condo price at times is higher than the SFR median. You don’t think there are undesirable areas in MB taht drive the median down?

    You don’t think all those paper millionaires in PA, are now only worth $500k. That’s not even enough for a down payment in MB now. You are Jessup true to the end. We’ll be reading about you in a similar article 2 years from now.

    And again, I never said Manhattan Beach was the “shit.” Sorry, that your PA will be worth 25% less in 2 years. Sucks to be you… in such denial.

    And by the way, PA is way overrated by you. Been there and have no desire to live there. Why live amongst a bunch of undergrad and grad school kids. PA has nothing over MB. Sorry, it is so true.

  47. burbed Says:

    Hey folks,

    I see tensions rising. Please take a break from Burbed for a few hours. It’s a beautiful California day – take a walk. (You can’t do that anywhere else ya know!)

    Thanks!

  48. nomadic Says:

    Pralay, thanks for #45. I was thinking about Bernanke’s track record and you provided just what I needed. :-)

  49. Real Estater Says:

    Let’s see, who shall we believe here…
    1. Fed Chairman
    2. Pralay

    ??? Would the smart people here please take a vote?

  50. Real Estater Says:

    You guys are raging mad now because the Dow is killing you!

    I won’t respond to the personal attacks, but just look the track record. Everytime I make a major time call here, it always turns out to be the right call.

    I told you guys when it was time to sell at the top, and then I told you when it’s time to buy at the bottom. Buying at Dow 6500, just like buy RBA real estate, is a no brainer!

  51. nomadic Says:

    I did buy stocks when the Dow was at 6500. Ten years ago.

    LOL

    #47 – burbed, you are right. I think everyone should drive out to the coast and visit a state beach. Clearly anyone who does this on a regular basis should know where Montara is located. Moss Beach is kind of nice too. They even have a (fairly mediocre) restaurant with a ghost.

  52. MV_Bound Says:

    Let’s see who should we believe here? Buffet, Bernanke, or RE. Note that Buffet sold his Laguna Beach home in 2005. But there are no special people that live outside of PA. RE is right that investing for the long-term you do usually win (except in the case from 1997 until now).

    Last Updated: March 9, 2009: 12:04 PM ET
    NEW YORK (Reuters) — Warren Buffett said Monday the U.S. economy had “fallen off a cliff” but would eventually recover, although a rebound could kindle inflation worse than that experienced in the late 1970s.

    WASHINGTON (AFP) – Billionaire Warren Buffett said Monday the US economy could recover in five years, likening the current battle against prolonged recession as a Pearl Harbor-like situation during World War II.

    “I think that economy will be fine in five years, but I wish we’d get there faster,” said Buffett, one of the world’s richest men, in an interview with CNBC.

    “America’s best days are ahead, but how fast we’ll go there is in question.”

    He described the current situation, in which unemployment is at a 25-year high and stocks have plunged to 12 year lows, as “an economic Pearl Harbor” and “an important war which could be won.”

  53. Pralay Says:

    Pralay, thanks for #45. I was thinking about Bernanke’s track record and you provided just what I needed.
    ———

    Here some more gems:
    Feb 2008: Fed chief Bernanke predicts USA will avoid a recession

    July 2008: Bernanke: Fannie, Freddie In No Danger

  54. Pralay Says:

    Note that Buffet sold his Laguna Beach home in 2005.
    ——-

    And he timed it quite well.

  55. anon Says:

    “I told you guys when it was time to sell at the top, and then I told you when it’s time to buy at the bottom. Buying at Dow 6500, just like buy RBA real estate, is a no brainer!”

    chuckie, doesn’t it bother you that all these people who took out loans they cannot pay are eroding your equity?

  56. Pralay Says:

    chuckie, doesn’t it bother you that all these people who took out loans they cannot pay are eroding your equity?
    ———-

    Angry renters and negative individuals (aka doom-and-gloom people) bother him, because they are not helping him to gain equity.

  57. burbed Says:

    Hey folks,

    I see tensions continuing to rise. Let’s stop with the name calling, the ad hominem attacks, the baiting, the swearing, etc.

    I’d prefer not to re-institute the “bingo” rule (e.g. you can only reference post numbers, not names) – but this is where this is trending towards.

    Seriously, it’s nice outside. Maybe it’s time for a Sprinkles(TM) break!

  58. zanon Says:

    #51 is hysterical!

  59. DreamT Says:

    Yes, weather is nice out there, and restaurant waitresses are all nicely dressed up and made up.

  60. bob Says:

    RE, did you actually buy stocks or are you just making a general statement? If you did, what stocks did you buy or did you invest more in a general investment like mutual funds?

    Sorry, but you can’t really call the bottom and even though we’ve had two nice days, it isn’t unusual for bear rallies when the market has been heavily sold, and perhaps oversold. The general economic indicators ( job losses, housing market, and others) are all negative, so there exists no real long-term growth indicators so jumping in right now could prove foolish. Besides- I’m sure you’re smart enough to not have pulled anything out during the downturn… right? if so, sit tight and hold.

    Lastly, inflation is soon to be on its merry way, and that’s not going to help the situation. Russia just agreed to go along with OPEC and cut production: Oil is up 11% already in one day. So the signs are there.

    I also agree. PA isn’t that great. Sort of boring suburb full of rich folks and phony wannabe rich folks calling Brady Bunch homes “mansions”. I personally hate working there and can’t wait to not have to. Bunch of stuck-up snobs and overpriced, not-so-good restaurants.

  61. Real Estater Says:

    Bob,

    I bought S&P 500 Index. If the market was oversold, then that means it was the bottom!

  62. zanon Says:

    RE: I went long financials. I feel good about those, not so good about the broader market.

    BOB: Oil is a bold bet. Not sure if Russia can really not produce, they’re in such bad condition. And the restaurants are a disappointment.

  63. bob Says:

    RE,
    A bear rally is not an indicator that the bottom has been reached. We’ve had several bear rallys. Do you recall that single day when the DOW went up over 900 points not too long ago shortly before the market took a nosedive? Exactly. Again, you have to look at general indicators, and none are very healthy. Additionally, Europe and Asia are and will continue to get pounded. It isn’t just a national recession, but global. Either way, Call it what you want to, but calling bottoms rarely works, and besides, an investment in stocks should always be a long term scenario because if you buy and sell without being a professional ( which neither of us are) then eventually you will lose money.

    Zanon, I’m not betting anything on oil. That’s risky business. But as it is, Russia claims they can’t make a profit on a barrel under $70, so they’re desperate to find ways to jack those prices higher. One way would be teaming up with OPEC.

  64. madhaus Says:

    OMG, I take a break from burbed for a day and half and look at all the trouble you caused! Even MV_Bound is getting into the act, and he was always one of the well-behaved ones.

    Now I want to see ALL of you sit back in your seats, and stop smirking at me RE, I **saw** that.

    nyc_to_rba, great find. I do know that over on IrvineHousingBlog, all the bulls from 2 years ago seem to have mysteriously left the building. Is Sacramento aligned with Irvine?

    Seriously, RBA is better than Manhattan Beach? Come on, now. If we want to go to the beach, we have to drive to places like Montara.

    I’m warning you all, behave or I’m going to write double the poetry.

  65. Real Estater Says:

    Bob says,
    >>an investment in stocks should always be a long term scenario because if you buy and sell without being a professional ( which neither of us are) then eventually you will lose money.

    For non-professionals, the best bet is to buy the S&P 500 Index.

  66. madhaus Says:

    For non-professionals, the best bet is to buy the S&P 500 Index.

    Thank you, RE, for the non-professional advice.

  67. Real Estater Says:

    Bob says,
    >>Do you recall that single day when the DOW went up over 900 points not too long ago shortly before the market took a nosedive?

    You can always find certain examples in history to support your point. The fact of the matter is, this time the market is not reacting that way. You are way over-reacting to this downturn, just like those investors who dumped stocks when Dow was at 6500.

  68. anon Says:

    excreter,

    You can always find certain examples in history to support your point. The fact of the matter is, this time the market is not reacting that way. You are way overunder-reacting to this downturn, just like those investors who dumped stocks when Dow was at 6500 bought homes at the end of the last property bubble.

  69. Real Estater Says:

    anon,

    Not certain examples. The entire history of BA real estate supports my position. We’ve gone over this subject multiple times.

  70. Herve Says:

    anon, don’t waste your time. Roger has been calling the bottom so many times it’s boring now. Eat some brie.

  71. anon Says:

    Eh, I suppose you’re right.

    My name is volatile
    I’ve been this way a long while
    I’d surely like to rest
    But the energy gets the best of me
    It’s been a wild ride
    I wouldn’t change a minute
    I can’t slow down inside
    Guess that’s why I live it…

  72. Pralay Says:

    Roger has been calling the bottom so many times it’s boring now.
    ——-

    And it started from 2008′s “Feb home sales is up”. :) Gosh, are we in double digit appreciation already?

  73. anon Says:

    double digit depreciation.

  74. anon Says:

    Good god; I haven’t looked for a while and it’s amazing how many homes are for sale in pa right now.

    This one is pretty sweet – I especially like the sweet kitchen.

    http://www.redfin.com/CA/Palo-Alto/329-Lincoln-Ave-94301/home/1208475

    2.2 mil for 2800 sqft. Must be the schools. And the weather. And the specialness.

  75. Real Estater Says:

    4-PEAT for the DOW! Over 7200 now!

  76. nomadic Says:

    anon – that house is a STEAL! It was purchased in 1990 (almost 20 years ago!) for $845k. Therefore, it’s REAL price should be 845x2x2 = $3.38M. ;-)

    #75 DOW SOARS! I hope you doubled down! Buy now or be priced out forever.

  77. anon Says:

    Wow, you’re right nomadic. Thanks – I didn’t bother to propertyshark it.

    Looks like professorville is not “desirable.”

    Speaking of desirable, where’s WG? Has he run with the bulls?

  78. madhaus Says:

    Bwa-ha-ha-ha! I just checked out that Lincoln Avenue house on Redfin, and you have GOT to look at the graph under “What’s the market like for houses near 329 Lincoln Avenue?” It’s an even steeper slide than the Zestimate on my shack. Sextuple diamond run, BASE jumpers only, bring your bat-suit.

  79. nomadic Says:

    nah, anon, I just scrolled down on the Redfin page. I’m always curious what it might show. Unfortunately I didn’t go down far enough to see the hilarity madhaus just pointed out! OMG! There’s gotta be some weird anomaly in the data to do that. I don’t think you’d even find a ‘hood in Sac that looks that bad!

  80. anon Says:

    heh.

    Guys, let’s be serious.

    What does a graph like that tell you?

    Answer: The sky is falling.

  81. Real Estater Says:

    >>What does a graph like that tell you?

    That the graph is garbage.

  82. madhaus Says:

    >>>>What does a graph like that tell you?<<
    That the graph is garbage.

    If the data don’t agree with your hypothesis, throw them away.

  83. Real Estater Says:

    >>If the data don’t agree with your hypothesis, throw them away.

    Data doesn’t agree with the facts.

  84. Pralay Says:

    Data doesn’t agree with the facts.
    ——-

    RealEstater and facts – that’s such oxymoron.

  85. Pralay Says:

    You know it’s like Ryan Jessup’s facts:

    people who are waiting for a crash are in for a slow dissappointment. Prices will probably fall a little more and then hold steady for awhile. The regional economy is too strong for a crash. In fact I have seen alot of Pending Sales in my area (East Sac) because some folks are swooping in to pick up $10-20k price drops…

  86. Pralay Says:

    BTW, in March 11 while we were discussing about Ryan Jessup, same day his confession comes (check comments at original site)

    I was incredibly wrong about the housing bubble. I figured it would drop – but not to the extent it did.

  87. SanMatean Says:

    Price reduced by 20K to 930K! Now yours for $1066 per square foot!

    Is this place really only 930 sq ft? Has anyone gone by to see how time/space was warped to fit 3 beds and a bath into a space this tight?


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