April 7, 2009

The Bay Area mansion affordability crisis is solved!

Egads… I have so many back-logged mails from Burbed reader Herve, it’s time for another Herve week. Here’s Day 2:

867 BRIARWOOD Way, Campbell, CA 95008 | MLS# 80902984
867 BRIARWOOD Way Campbell, CA 95008
Price: $2,599,000

1455817512-867
Beds: 5
Baths: 4
Sq. Ft.: 9,000
$/Sq. Ft.: $289
Lot Size: 0.64 Acres
Property Type: Detached Single Family
Style: Traditional
Year Built: 2008
Stories: 2
View: Neighborhood
Neighborhood: Cambrian
County: Santa Clara
MLS#: 80902984
Source: MLSListings
Status: Pending Without Release
On Redfin: 66 days
Magnificent 9000 sq ft luxury estate features meticulous attention to detail * This 1 year new Executive home is the perfect entertainer???s dream * Exquisite custom-built home features formal foyer * grand great room w/ 2-story dramatic ceiling * gourmet kitchen with 2 islands * full bar * 5 bdrms/4.5 baths * Office * 2-open space Dens/family rooms * Guest wing * separate gym * impressive movie theater and so much more!

Who says that the price per square foot in the Bay Area is astronomical! At $289 per square foot, this is plenty affordable – you just need to buy plenty of it! Buy more and save – you know how it goes!

But all seriousness, one thing I hear all the time is “Gosh, mansions in the Bay Area are so unaffordable! How can I live without a guest wing?” Well… this house solves that problem.

Let’s take a look at your mansion-y neighborhood:

1491542847-mansion

Wow… nothing says champagne wishes and caviar dreams quite like this!

Actually this is a good thing since you’ll have plenty affordable housing for your army of servents. Win win!

Comments (156) -- Posted by: burbed @ 5:51 am






April 6, 2009

Houses come in 2-pack form in Redwood City – great investment opp!

Egads… I have so many back-logged mails from Burbed reader Herve, it’s time for another Herve week. Let’s kick off Day 1 with this puzzler:

410 LINCOLN Ave, Redwood City, CA 94061 | MLS# 80901129
410 LINCOLN Ave Redwood City, CA 94061
Price: $895,000

693520370-410
Beds: 5
Baths: 3.5
Sq. Ft.: -
Lot Size: 5,625 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Year Built: 1925
Stories: 2
Neighborhood: Central Park
County: San Mateo
MLS#: 80901129
Source: MLSListings
Status: Active
On Redfin: 77 days
Two homes perfect for two families or rent one and live in the other. This is an up and coming area. Close to downtown, Walk to shopping, restaurants and theaters. Both homes have many upgrades throughout including central air conditioning, upgraded baths and kitchen. Move right in. Award winning landscaping. These homes have been well maintained and are ready to move in.

Those who are in marketing know that bundling is a great way to keep the average selling price higher, and deliver more value to the customer. This is a great example. Let’s take a look at the bundled house:

1559840566-410a

Hey! Not too shabby! Just think of this as an investment opportunity – you get to spend more, and then you get to earn it back.

Frankly, I think they should start bundling blocks together, and sell them at Costco – wow what a hit that would be!

Here’s what Herve also had to say:

The Zestimate is $653K but I don’t think Zillow takes into account the color of the house. Pink adds at the very least $200K. The house next door has a Zestimate of $344K.

Very confusing – but at the end of the day that’s just data. My gut says that this is a great buy, and thus it must be.

Wouldn’t you but it? Come on! One of them is even pink!

Comments (23) -- Posted by: burbed @ 5:40 am

April 5, 2009

The Latest, Hottest, Bay Area magazine!

Thanks to Burbed reader Herve for making this:

636768943-magazine

You know you’d buy it if it were really available!

Comments (30) -- Posted by: burbed @ 5:47 am

April 4, 2009

The most important you need to read… ever!

Oh my! You must click the link and buy the book ASAP!

The Return of Depression Economics and the Crisis of 2008

Haha… just kidding. It’s a late April Fool’s Day joke – got ya didn’t I?

Depression smession. Have you been impacted by this downturn? Of course not! You live in the Real Bay Area. You work for a Real Bay Area company. Or you have your own. Or two!

Happy April Fools Day!

Buy the book anyway.

Comments (2) -- Posted by: burbed @ 5:40 am

April 3, 2009

$810K Burlingame cottage that exercises mind control

818 Peninsula Ave, Burlingame, CA 94010 Lyon-Hoag MLS# 80833751 – Property Details
818 Peninsula Ave, Burlingame, CA
94010

(Lyon-Hoag)
$810,000

302986293-818

* Status: Active
* Bedroom: 2
* Bathroom: 1
* Year Built: 1920
* Lot Size: 3924
* Square Footage: 900
* List Date: 9/11/2008
* Garage Spaces: 1

* MLS#: 80833751
Imagine coming home to this cute 2 bedroom, 1 bath Burlingame Cottage, and enjoying the convenient upscale location that is near transportation, downtown shopping and is in a great school district. You will appreciate the updated kitchen, with a newer stainless steel refrigerator, stove and a newer dishwasher, the beautiful wood floors, and the extra half bath.

Can you imagine that?

Well… apparently Burbed reader Sonarrat can. Here’s what he had to say:

Never mind that it’s on a busy road, within earshot of the train tracks and the Putnam GM dealership. Isn’t this hypnotizing?

The fact is that after you’ve spent $810k to buy this house, you will definitely experience it. The reason that you can’t imagine that today is simply due to the fact that you can’t afford the $900 per square foot. But once you can, it has been scientifically proven that your ability to imagine quintuples. And it’s that imagination that will make you rich!

So… therefore… buy this house… be rich.

After all, it’s Burlingame – and it’s got an extra half bath!

Comments (19) -- Posted by: burbed @ 5:38 am

“Manhattan has become affordable again,”

Manhattan Co-Ops and Condos Sell for 20 Percent Less – NYTimes.com
But Pam Liebman, the president of the Corcoran Group, which also issued a report, predicted that as activity picks up, prices will erode even more. While sales of the most expensive apartments and apartments in new condos are down sharply, she said that sales were increasing among lower-priced apartments.

She said sales of one-bedrooms and studios were up, as were sales to first-time buyers, who can purchase an apartment without having to sell something else.

“Manhattan has become affordable again,” she said. “It is a lot more affordable than it was six months ago.”

OMG. We’re so close! I can feel it!

Quick! Everyone! Call up your contacts in the People’s Republic of China and in the Republic of China. Borrow some money! Buy 10-12 condos/townhouses/houses. Do it!

This is your weekend homework.

If we all pull together, we can finally win this war against Manhattan. I know it’s not good sportsmanship to kick someone when they’re down, but we are the Real Bay Area – now is our time to hold the crown of being most unaffordable.

Let’s go!

Comments (14) -- Posted by: burbed @ 4:06 am

April 2, 2009

Disturbing and shocking and horrifying news from Atherton

99 WALNUT Ave Atherton, CA 94027

Price: $1,898,000

Mar 02, 2009

Listed

$1,898,000

MLSListings #80910509

Aug 03, 2006

Sold

$2,150,000

12.2%/yr

Public Records

2 WILBURN Ave Atherton, CA 94027

Price: $1,150,000

Mar 02, 2009

Price Changed

$1,150,000

MLSListings #80903228

Jan 20, 2009

Listed

$1,395,000

MLSListings #80903228

Dec 28, 2008

Off Redfin

*

Inactive MLSListings #3

Sep 06, 2008

Listed

*

Inactive MLSListings #3

Nov 07, 2006

Sold

$1,495,000

Public Records

9 ISABELLA Ave Atherton, CA 94027

Price: $2,795,000

Jan 21, 2009

Listed

$2,795,000

MLSListings #80903372

Jan 21, 2009

Off Redfin

*

Inactive MLSListings #2

Jan 16, 2009

Price Changed

*

Inactive MLSListings #2

Jan 16, 2009

Relisted

*

Inactive MLSListings #2

Nov 24, 2008

Off Redfin

*

Inactive MLSListings #2

Oct 19, 2008

Price Changed

*

Inactive MLSListings #2

Jul 29, 2008

Price Changed

*

Inactive MLSListings #2

Jun 10, 2008

Price Changed

*

Inactive MLSListings #2

May 08, 2008

Listed

*

Inactive MLSListings #2

May 06, 2008

Off Redfin

*

Inactive MLSListings #1

Mar 24, 2008

Price Changed

*

Inactive MLSListings #1

Jan 14, 2008

Listed

*

Inactive MLSListings #1

Dec 12, 1988

Sold

$2,130,000

Public Records

450 MIDDLEFIELD Rd Atherton, CA 94027

Price: $5,495,000

Feb 07, 2009

Price Changed

$5,495,000

MLSListings #80843332

Nov 03, 2008

Listed

$5,995,000

MLSListings #80843332

May 16, 2006

Sold

$4,975,000

20.5%/yr

Public Records

2 FLEUR Pl Atherton, CA 94027

Price: $5,500,000

Dec 18, 2008

Listed

$5,500,000

MLSListings #80849947

Apr 28, 2006

Sold

$4,995,000

Public Records

Egad! Thanks to Burbed reader Steve for sending this in. Wowsers. I thought times were tough… but still… even Atherton is being impacted? Sure not all of these are losses, but still – they’re not the soaring prices one would expect.

There can be only one explanation for this: BERNIE MADOFF.

I’ll bet anything that those kooky NYers once again conspired to sabotage the Real Bay Area in kicking Manhattan’s ass. It’s gotta be. What other reason could there be?

One of these days!

Tags:
Comments (94) -- Posted by: burbed @ 5:34 am

April 1, 2009

Congratulations to Fremont for a 9.75% sales tax!

California City and County Sales and Use Tax Rates – Cities, Counties and Tax Rates – Board of Equalization
Fremont* 9.750 % Alameda

Congratulations!

Unfortunately though, this is not the highest:

http://en.wikipedia.org/wiki/Sales_taxes_in_the_United_States

The city of Chicago has the highest total sales tax of all major U.S. cities.[39] It is also one of the most complex. 10.25% is levied on all non-perishable goods purchased, while 2% is levied on qualifying food, drugs, medicines and medical appliances.[39] The Illinois Department of Revenue collects a 3% Chicago Soft Drink Tax and a 1% Metropolitan Pier and Exposition Authority (MPEA) “Food and Beverage Tax”, on prepared food and beverage purchases in the downtown area (These “downtown” boundaries are: Surf Street on the north, Ashland Avenue on the west, Stevenson Expressway (I-55) on the south, & Lake Michigan on the east. Furthermore, O’Hare and Midway airports also fall under the 1% MPEA tax district).[40] In addition, the Chicago Department of Revenue collects additional sales taxes on items such as fountain drinks, bottled water, liquor, and cigarettes.[41]

Damn you Chicago! Damn you and your crazy pizzas.

Well, at least we beat NY! Did you know this?

There is no New York City sales tax imposed on the purchase of clothing and footwear regardless of the amount. As of September 1, 2007, New York State has eliminated sales tax on all clothing and shoes if the single item is priced under $110.

Losers.

While we haven’t beaten Manhattan (YET) in highest housing prices, we’re doing a great job on the tax front.

Great work everyone. I’m very proud today to be a Californian Bay Arean!

Comments (10) -- Posted by: burbed @ 12:41 pm

$1.6 million – with easy access to Trader Joe’s, Starbucks, Chevron and more!

1575 Wistaria Ln, Los Altos, CA 94024 Highlands MLS# 80910814 – Property Details
1575 Wistaria Ln, Los Altos, CA
94024

(Highlands)
$1,600,000

657988243-1575

* Status: Active
* Bedroom: 3
* Bathroom: 2&1/2
* Year Built: 1956
* Lot Size: 11305
* Square Footage: 2042
* List Date: 3/1/2009
* Garage Spaces: 2
* MLS#: 80910814
Come home to the welcoming environment of this comfortable Los Altos home. Situated off the beaten path on a woodsy street, you will enjoy peace & quiet. Your children can walk to 3 of the best schools in the Cupertino School District. Walk to Trader Joes, parks, public tennis courts, and recreation (see info at property). Ready for its new owner(s)…could this be you? Disclosures available

Apparently when Ben saw this about a month ago, the listing said this:

“Don’t miss this charming Los Altos classic. Ranch style home on just over a quarter acre lot. Fenced front and back yards offer opportunity to use both. RV parking and spacious freeform patio…partially covered, partially not. Spa in the backyard will enhance your day or evening after your run or bike ride in the San Antonio Recreational Area just minutes away…or after the tennis match on the St. Joseph Park courts at Montclaire. Or, join the local tennis aned swim club on Deodara! Schools are within walking and/or biking distance from your home, as is shopping, dining, etc. In this location you not only have a Trader Joes, you also have Starbucks! Who could as for more? YOU! There is also a dry cleaners, a Lucky’s, Rite Aide, deli, Mexican & Chinese restaurants….a place to get your nails done, and MORE!!! Finally….Off the beaten path, but still easy access to Foothill Expressway, 280 & 85.”

To which Ben had this to say:

This one has it all… easy access to 280 and 85, the grocery and drugstore brands Los Altos buyers “as for” (Lucky and Rite Aide) and MORE!!! I am puzzled it’s only $1.6M – I mean, there’s not just a Trader Joe’s but also a Starbucks!!!11 They’re selling it short though – there’s a Chevron down there too. I am pleased that they explained that because the patio is partially covered, it is also partially not (covered). I bet if you call the listing agent within the next hour,they’ll throw in covering for the rest of the patio (and a pack of Sham-Wows) for free! Who could as for more?

I don’t know about Sham-Wows, but if they could throw in a Snuggie or two, I’d be totally sold on this. No April Fools joke here!

Ah Los Altos – every house just brings me a smile. Thanks for brightening up my day!

Comments (25) -- Posted by: burbed @ 5:28 am