May 31, 2009

S.F. housing market warming up | San Francisco Examiner

S.F. housing market warming up | San Francisco Examiner
S.F. housing market warming up
By: Mike Aldax
Examiner Staff Writer
05/07/09 6:00 AM PDT
Time to buy? Bay Area home prices continue to drop. (AP file photo)

SAN FRANCISCO — Mike Plotkowski called it “a long cold winter.”

But with summer approaching, San Francisco real estate agents say the housing market is warming up — particularly for homes priced under $1 million — and recent assistance from the federal government has sparked an influx of multiple bids on homes for the first time since the crisis began.


San Francisco prices are not nearly as low, however, as what is being offered in other Bay Area cities, where sales are occurring at half the listing price in some cases, Boutiette said.

“I have to educate my buyers who are looking for 25 to 30 percent off the listing price, that that’s generally not going to happen,” he said.

That’s because the housing supply in San Francisco remains static, particularly when it comes to single-family homes, Boutiette said.

“San Francisco is usually the last to get hit and the first to rebound,” he said.

Thanks to Burbed reader Jason for this find!

It always warms my heart to read about how realtors are helping to educate consumers on the ways of Real Estate, and how truly special San Francisco is.

Everyone, please repeat after me – “last to get hit, first to rebound”

“last to get hit, first to rebound”

“last to get hit, first to rebound”

“last to get hit, first to rebound”

And remember, don’t expect discounts!

Oh yeah! Things are heating up! Just in time for summer!

Comments (256) -- Posted by: burbed @ 5:12 am

May 30, 2009

The Rules for Growing Rich : Making Money in the New Information Economy

The Rules for Growing Rich : Making Money in the New Information Economy

The Rules for Growing Rich, David Lereah’s manual for “Making Money in the New Information Economy,” is a sophisticated compilation of tools and suggestions for tackling today’s high-tech world of finance. All investors, writes Lereah, chief economist for the Mortgage Bankers Association, now “have almost instantaneous access to an abundance of investment data once available only to professional investors. Understanding how to sort, interpret and evaluate this information is critical in developing successful investment strategies.” He subsequently offers authoritative advice on formulating such tactics and applying them in any economic scenario. Lereah begins with solid advice on monitoring the overall economy via cyberspace, pointing out the potential significance of interest rates, employment reports, and other business-cycle indicators (and noting, in each case, online sites that follow them). He then focuses on individual instruments used to act upon this information–stocks, bonds, real estate, options, futures, and international assets–along with investment principles to apply in good times and bad. These 201 resultant rules offer specific guidance for assorted situations, incorporating variables such as housing starts, durable goods orders, and the other regular reports discussed in the preceding section. There is a wealth of counsel here for diligent long-term investors who put in the time necessary to absorb it. –Howard Rothman

Go figure. Before David Lereah wrote the authoritative tome “Why the Real Estate Boom Will Not Bust – And How You Can Profit from It”, he wrote a book on how to make money from cyberspace in 2000!

Now, 9 years later, this may be the perfect time to click and buy this book from Amazon.

Let’s face it, this year so far hasn’t all that great for the Silicon Valley. But that means only one thing – next year things are going to take off! And once it does, you need to be there at the bleeding edge of cyberspace!

Do you have the rules for growing rich? If not, David Lereah can help.

Comments (4) -- Posted by: burbed @ 5:30 am

May 29, 2009

The absolute best, affordable, house in Mountain View

This week, we celebrate the 5 Bay Area cities featured in Forbes’ “Top 25 Towns To Live Well (and have good access to Venture Capital)”. Coming in at #4:

488 CARMELITA Dr, Mountain View, CA 94040 | MLS# 80828648
488 CARMELITA Dr Mountain View, CA 94040
Price: $749,000

Beds: 2
Baths: 1
Sq. Ft.: 896
$/Sq. Ft.: $836
Lot Size: 7,198 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1947
Community: Grant
County: Santa Clara
MLS#: 80828648
Source: MLSListings
Status: Active
On Redfin: 276 days
Unsold in 90 days
It’s like living on a country lane with the convenience of nearby shopping, easy commute route access and close to Huff School!! Exceptional opportunity for a builder/developer. This fantastic lot in a quiet neighborhood is just waiting for your creative ideas.

You know what? This house is so stunning, I’ll just let the pictures do the talking:


If this doesn’t say “Top 25 Towns To Live Well (and have good access to Venture Capital)” – I don’t know what does.

Congratulations to all the Bay Area cities that made it into this Forbes list. You’re all winners. And you’re all stunning reminders of what makes the Real Bay Area real!

Comments (52) -- Posted by: burbed @ 5:56 am

May 28, 2009

2 houses for sale, rent out for $2500 a month in Cupertino

This week, we celebrate the 5 Bay Area cities featured in Forbes’ “Top 25 Towns To Live Well (and have good access to Venture Capital)”. Coming in at #5:

21851 ALMADEN Ave, Cupertino, CA 95014 | MLS# 80844724
21851 ALMADEN Ave Cupertino, CA 95014
Price: $1,260,000

Beds: 4
Baths: 2
Sq. Ft.: 1,109
$/Sq. Ft.: $1,136
Lot Size: 9,935 Sq. Ft.
Property Type: Detached Single Family
Style: Cabin
Stories: 1
View: Mountains
Year Built: 1942
Community: Cupertino
County: Santa Clara
MLS#: 80844724
Source: MLSListings
Status: Active
On Redfin: 191 days
Seller will carry 85% first loan at market rate with 15% down payment. Property is currently used as a duplex with 2 bedroom, 1 bath main house and 2 bedroom, 1 bath cottage, divided by covered breezeway/ laundry area. Substantial deferred maintenance and unpermitted conversions and improvements, but both houses are livable and currently rented for a combined $2,500 per month. Great land value.

Wow… talk about an amazing deal. You’re actually getting two houses for just $1.26M, and they currently rent out for $2,500 a month. So rent them out, and then add an additional $4094 per month for mortgage, property tax, and live somewhere else. Boom! 30 years later you’ve got an amazing set of Cupertino houses free and clear. By then, this property will be worth at least… $1 trillion dollars! So you’ll easily make the money back.

Hey, when I deferred maintenance, I see $$$. That’s code words for “great deal”.

Cupertino has easy access to VC money, that’s why it’s #5 to live in – so get some VC money, and invest in this amazing venture today!

Comments (12) -- Posted by: burbed @ 5:45 am

May 27, 2009

Do you like Halibut? Do you like Carmel? Well you'll love Foster City then!

This week, we celebrate the 5 Bay Area cities featured in Forbes’ “Top 25 Towns To Live Well (and have good access to Venture Capital)”. Coming in at #10:

1338 HALIBUT St, Foster City, CA 94404 | MLS# 80915731
1338 HALIBUT St Foster City, CA 94404
Price: $999,998

Beds: 3
Baths: 2
Sq. Ft.: 1,700
$/Sq. Ft.: $588
Lot Size: 6,175 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Stories: 1
View: Neighborhood
Year Built: 1968
Community: Carmel Village
County: San Mateo
MLS#: 80915731
Source: MLSListings
Status: Active
On Redfin: 54 days
Every once in a while a property becomes available that offers a rare and extraordinary opportunity! Nestled in the heart of Foster City with a bright Western exposure this totally remodeled ranch style home invites the most discriminating buyer home to perfection. Showcasing a unique combination of charm, detail and today???s design, this home offers it all! Close to schools, parks, shopping & trans

Carmel (Village). Halibut (St). If you love any of those things, you’ll love this Foster City house.

But wait, there’s more – it’s in the heart of Foster City.

This kind of stuff only happens every once in a while so this is an extraordinary opportunity. Are you the discriminating enough of a buyer to own this home?

More importantly, unlike the rest of Foster City, when the Bay rises by a foot, your house won’t immediately be under water. And you know what that means – less supply, more demand. Kabooom! Watch as the value of your house soars!

You’ll thank me… but first, buy a Hummer H2 to help expedite the process!

Comments (17) -- Posted by: burbed @ 5:32 am

May 26, 2009

Belmont house – new from the foundation up – $709 per square foot

This week, we celebrate the 5 Bay Area cities featured in Forbes’ “Top 25 Towns To Live Well (and have good access to Venture Capital)”. Coming in at #11:

2524 DEKOVEN Ave, Belmont, CA 94002 | MLS# 80804798
2524 DEKOVEN Ave Belmont, CA 94002
Price: $1,049,000

Beds: 3
Baths: 2
Sq. Ft.: 1,480
$/Sq. Ft.: $709
Lot Size: 7,900 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Bay, Neighborhood, City Lights
Year Built: 1949
Community: Haskins Estates
County: San Mateo
MLS#: 80804798
Source: MLSListings
Status: Active
On Redfin: 389 days
New from the foundation up. Staged, gorgeous Hi ceilings, sky lights, chefs kit, sub zero, Wolf etc. .Ideal park like setting for bar-b-q, rv, boat playground, dog run etc. .SF views slate walks, drive, and patio area, ready to move in. ..

New from the foundation up. But most importantly, it’s staged. Do you know how few houses are actually staged these days? It’s defnitely a value add and something you’ll always remember.

In fact, it’s so gorgeous that it has been on the market for 389 days. Do you know what happens? Basically people go, visit the house, and amazed at how beautiful the staging is (and the views too) and then leave, realizing that they are not worthy.

Again, this is a great example of a house where you can buy it, and turn it into a tourist attraction, charging for the views. Win win! It’ll help pay the mortgage!

Go ahead and visit, I bet you will find that you can’t buy it either. You’re not worthy.

Comments (210) -- Posted by: burbed @ 5:20 am

May 25, 2009

Pink house, Affordable House, Burlingame house

This week, we celebrate the 5 Bay Area cities featured in Forbes’ “Top 25 Towns To Live Well (and have good access to Venture Capital)”. Coming in at #12:

1312 Montero Ave, Burlingame, CA 94010 | MLS# 351731
1312 Montero Ave Burlingame, CA 94010
Price: $1,328,000

Beds: 3
Baths: 2
Sq. Ft.: 1,730
$/Sq. Ft.: $768
Lot Size: –
Property Type: Single-Family Home
Style: Spanish/Mediterranean
View: Bay, Garden/Greenbelt
Year Built: 1928
Community: Burlingame
County: San Mateo
MLS#: 351731
Source: San Francisco MLS
Status: Active
On Redfin: 118 days
New Price. 61K price reduction. Desirable Easton Addition. 3 bd/2ba, excellent schools, close to transportation and shopping. This meticulous and well maintained home features a vaulted ceiling living room w/ fireplace, dining room, family room, breakfast nook, all new stainless appliances, remodeled baths, hardwood floors, large yard, inside laundry room, landscaped and lush yard & 2 car attached garage. A patio and upstair deck face the backyard. Fine details and more. See www. 1312Montero. com.

The house is pink, the house is affordable ($61k price reduction!), and it’s in the “Desirable Easton Addition”. I’d never heard of it, but then again, I’m don’t consider myself a Burlingame expert.

Who knew that perfection is so affordable these days. This is a downright steal.

Any Burlingame experts here? Can anyone shed some light on this Easton Addition neighborhood? Is this one of the neighborhoods that makes this city the #12 Top 25 Town To Live Well?

Comments (17) -- Posted by: burbed @ 5:05 am

May 24, 2009

America’s Top 25 Towns To Live Well –

In Depth: America’s Top 25 Towns To Live Well –
12. Hillsborough, Calif.

Population: 10,553
Location: In San Mateo County, south of San Francisco and north of San Jose.
Median income: $320,715

Strongest categories: Like many of its peninsula neighbors, Hillsborough’s proximity to San Francisco and Silicon Valley means there are plenty of high-paying jobs in emerging fields.

Drawbacks: There aren’t many small businesses or start-ups in Hillsborough itself. It has one of the top five most-educated labor pools based on our analysis, but little in-town business activity.

11. Belmont, Calif.
Population: 24,625
Location: South of Hillsborough, and in between San Francisco and San Jose.
Median income: $102,466

Strongest categories: Belmont residents may not have as much cash on hand as their northern neighbors in Hillsborough, but there are far more businesses emerging there. Local firms have attracted $878 per capita in venture funding, and the city scores in the top quarter for its number of restaurants and bars.

Drawbacks: While its scores for BLS-defined professionals and business start-ups are stronger than most, they simply aren’t high enough to place Belmont in the top 10.

10. Foster City, Calif.
Population: 29,081
Location: South of San Francisco and north of Redwood City
Median income: $119,780

Strongest categories: Home to many top companies, big and small, including Visa International, Sony Computer Entertainment America and Sling Media, Foster City ranks first on our list for its share of highly skilled workers, particularly with a background in tech, and in the top five for its per capita number of patents.

Drawbacks: There isn’t much happening in Foster City. There are plenty of office parks, but it offers few cultural institutions and restaurants.

5. Cupertino, Calif.
Population: 50,572
Location: South of San Francisco and west of San Jose.
Median income: $128,149

Strongest categories: A great start-up environment in the heart of the Silicon Valley and home to a number of semiconductor and technology companies, most notably Apple, Cupertino succeeds as a mix of a place for established businesses and small shops. It ranks in the top 10 for sole proprietors and small businesses per capita.

Drawbacks: While you certainly can’t complain about the warm climate, Cupertino simply didn’t do as well as the top cities on our list even in the categories considered its strengths.

4. Mountain View, Calif.
Population: 70,960
Location: South of Palo Alto on the Bay Area peninsula.
Median income: $88,736

Strongest categories: While there’s plenty more to Mountain View, the average commute time of 20 minutes is a rarely found pleasure of Bay Area living. Credit Mountain View’s standing as our most active venture capital markets, for an abundance of entrepreneurs running their own businesses, which in turn means they don’t have to commute to bigger cities like San Jose and San Francisco.

Drawbacks:There aren’t a lot of restaurants, music venues, museums or cultural attractions in Mountain View, though it isn’t too far for residents to trek 15 miles into San Jose.

Congratulations to all the Bay Area cities that made the cut. Wowsers! Wowsers! Thank you for keeping the Real Bay Area real, and justifying the high housing prices in the area. Who cares that these cities didn’t have the highest incomes of the top 25… it’s the high prices that matter.

Here’s the methodology for those of you who care:

To determine the best towns in which to live well, Forbes teamed with, a San Francisco-based consulting firm specializing in corporate relocation. Because geographical definitions range widely, we used the term “town” to describe every city, town, borough or Census-designated-place under 100,000 people. To rank each town, we looked at median income; average commute; distance to highways and airports; per capita venture capital funding; per capita number of small businesses, sole-proprietorships and start-ups; the percentage of the population with bachelor’s degrees or higher; the share of professional-level workers as defined by the Bureau of Labor Statistics (BLS); the percentage of young and educated people, or those 25-34 with a bachelor’s degree or higher; and the percentage of foreign-born residents with a bachelor’s degree or higher. We also measured the per capita number of restaurants, bars, museums and cultural institutions.

Go figure. Who knew that making “per capita venture capital funding” a criteria would help boost all these Bay Area cities to the top of the list! Go figure!

To celebrate, this week I’m going to feature a house from each of the cities!

And in case you were curious… this is who was number 1:

1. Boulder, Colo.
Population: 90,648
Location: Northwest of Denver, in the mountains.
Median income: $54,243

Strongest categories: Boulder is a consistent high performer in all our measures. The city’s businesses bring in $1,165 in per capita venture capital funding; it ranks fourth for its young and educated population of those 25-34 years old, in the top 5% for its patents per capita, second for its number of sole proprietors, fourth for its number of museums and cultural institutions and has an average commute of 17 minutes.

Drawbacks: If you don’t like snow, this might not be the place for you.

Comments (11) -- Posted by: burbed @ 5:54 am

May 23, 2009

OPM: How to Attract Other People's Money for Your Investments–The Ultimate Leverage

It’s Saturday and that means it’s time for another Burbed book of the week. Today, let’s look at:

Rich Dad’s Advisors: OPM: How to Attract Other People’s Money for Your Investments–The Ultimate Leverage

Cash flow is the foundation of every successful business, but investors do not have to start with their own money to build a business. Money can be made by acquiring an asset, turning an idea into a fortune, or building a business, using other peoples moneyOPM. This book will discuss different forms of OPM, how to find OPM, the consequences of using OPM, and the legal aspects and pitfalls of trying to access OPM.

Another book from the Rich Dad series.

Personally I love phrase OPM. I remember people dropping it oh so liberally in the good ol’ days of 2005. OPM this, OPM that. What? You’re not OPMing? Oh, I am so OPMing! OPM BABY!

Or… my back hurts! What do I do? Get some OPM!

Let’s bring the cult of OPM back. Build some statues, erect some temples. Let’s bow before the god OPM and see how He can help us all become rich!

Comments (12) -- Posted by: burbed @ 5:01 am

May 22, 2009

House that lost value in Palo Alto. OMG.

994 LOMA VERDE Ave, Palo Alto, CA 94303 | MLS# 80918726
994 LOMA VERDE Ave Palo Alto, CA 94303
Price: $1,185,000

Beds: 3
Baths: 2
Sq. Ft.: 1,779
$/Sq. Ft.: $666
Lot Size: 6,000 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
View: Neighborhood
Year Built: 1958
Community: South Palo Alto
County: Santa Clara
MLS#: 80918726
Source: MLSListings
Status: Active
On Redfin: 24 days
Delightfully sunlit Eichler-designed home has remodeled kitchen with granite counters, custom cabinetry & Bosch appliances. Includes high ceilings & skylights, beautiful tiling throughout most of the home, and newer roof. Inviting backyard lawn & garden setting. Solar-powered for energy efficiency! Quiet neighborhood–don’t be fooled by the street name! Close to parks & library. MUST SEE!

Well this looks good. I mean, it’s got solar power, it’s Eichler, it’s got Bosch appliances/struts/spark plugs… it’s in Palo Alto. I don’t get the joke about the street name, but that’s ok. (Do you?)

But then I saw this:


This is good news and bad news.

Good News: This proves that house prices in the Real Bay Area double every 10 years.

Bad News: There’s been a set back. This person is selling it for $115k less than what he bought it for!

Will this house reach $1.46M like it rightfully deserves to by 2011?

I hate to bum people out on a Friday, but I think this needs a real call to action. What can we do to fix this? Halp!

Comments (62) -- Posted by: burbed @ 5:58 am