July 31, 2009

More affordable housing in San Jose

1460 KARL St, San Jose, CA 95122 | MLS# 80839880
1460 KARL St San Jose, CA 95122
Price: $299,000

1460
Beds: 3
Baths: 1
Sq. Ft.: 1,711
$/Sq. Ft.: $175
Lot Size: 6,000 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
Year Built: 1961
Community: Alum Rock
County: Santa Clara
MLS#: 80839880
Source: MLSListings
Status: Active
On Redfin: 278 days
This home is very large and has converted bonus rooms!!! Great area and neighborhood! One of the largest homes in the area.

Maybe I should just make it policy to feature affordable housing on Fridays or something. To counter those whiny people that there’s no affordable housing in the Bay Area.

In fact, this area supports a diversity of lifestyles – you can be in proper Palo Alto and live in the Real Bay Area, or you can be in affordable San Jose and live in the related Bay Area.

That said, just check out the equity that’s waiting to be unlocked when you buy this house:

1460a

Cha-ching! Come on… it won’t take that long for this house to move back to its 2007 or 2005 price. And them BOOM, cash out time!

As for the house itself, it’s got potential. Lots of potential. Trust me, you really don’t need pictures of the inside.

Comments (55) -- Posted by: burbed @ 5:39 am






July 30, 2009

Menlo Park house – 95% new!

414 OCONNOR St, Menlo Park, CA 94025 | MLS# 80848553
Menlo Park, CA 94025
Price: $1,299,400

414
Beds: 3
Baths: 2
Sq. Ft.: 1,677
$/Sq. Ft.: $775
Lot Size: 10,200 Sq. Ft.
Property Type: Detached Single Family
Style: Country English
Stories: 1
View: Neighborhood
Year Built: 1926
Community: Willows/O’Conner Area
County: San Mateo
MLS#: 80848553
Source: MLSListings
Status: Active
On Redfin: 216 days
Classic design. Totally remodeled (95% new)3 bedrooms w/ 2 full baths. Just a short walk to University Ave. shops & restaurants. Kitchen has granite counters & custom cabinets w/ professional stainless appliances. Open light & bright main living areas w/ patios off dining and family rooms. Spacious master suite w/ hipped ceiling & French doors lead to beautiful secluded garden. MenloPark schools

Finally, a property that makes Menlo Park proud to be a member of the Real Bay Area. $1.3 million with 3 bedrooms and 2 baths. Ahhhhhh.

What’s fascinating is that this place is totally remodeled and is thus 95% new. But if it were 95% new, wouldn’t you build a bigger place? Especially with this large lot? What gives?

And while we’re at it, what’s going on in this picture outside?

414a

The reminds me of the scene in Terminator 2 where Sarah has the dream about the playground that is covered in ashes. I mean, this is seriously creepy. Has the technological apocalypse happened already in Menlo Park? Has SkyNet finally risen out of the wacky projects in Palo Alto and started to terminate humanity?

I don’t know the answers – but I do know that you should feel pretty safe on this huge lot with French doors!

Comments (50) -- Posted by: burbed @ 5:26 am

July 29, 2009

This San Mateo house is the American Dream defined

1022 S DELAWARE St, San Mateo, CA 94402 | MLS# 80931255
1022 S DELAWARE St San Mateo, CA 94402
Price: $469,950

1022
Beds: 2
Baths: 1
Sq. Ft.: 860
$/Sq. Ft.: $546
Lot Size: 4,280 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
Year Built: 1949
Community: Hayward Park
County: San Mateo
MLS#: 80931255
Source: MLSListings
Status: Pending With Release
On Redfin: 14 days
Move in ready! Not a short sale or REO! This beautifully updated home includes updated kitchen and bathroom with new appliances, upgraded lighting and fixtures. Newly installed carpeting and tile flooring. Fresh paint in & out and professional landscaping. Beautiful garage conversion (permits unknown)

Thanks to Burbed reader Jeff for this find!

Apple pie, lawns, debt, and baseball – America. And this house further realizes the American Dream by having a striped lawn.

That’s right – no longer do you have to lust after the fields at NameOfTheDay Park, you can have it right at home. Sure a full game of baseball might be hard since your lot is just 4,280 square feet – but maybe you can play half court baseball. Uh. Or something like that.

I was going to say “Go ahead and buy your slice of the American Dream today” – but it looks like someone has beat you already.

Best of luck buying your own ballfield!

Comments (101) -- Posted by: burbed @ 5:40 am

July 28, 2009

You can run your own home-based business in this oakland house

1607 High St, Oakland, CA 94601 MLS# 40409403 – Property Details

$480,000

1607

Status: Active
Bedroom: 4
Bathroom: 2

* Year Built: 1922
* Lot Size: 4869
* Square Footage: 1792
* List Date: 5/9/2009
* Garage Spaces: 0
* MLS#: 40409403
*

See All Homes for Sale in Oakland
Bird’s Eye View Pictures
Description of 1607 High Str, Oakland
Unique property with a detached studio large fenced in area with security gate.Beautiful fireplace, 4 bedrooms, 2 bathrooms. Presently being use as a business also. Plenty of off street parking. Completley painted in and out. Everything new appliances stay.

Thanks to Burbed reader Sonarrat for this find.

Wow… everything is “completley painted in and out”. And it’s currently being used as a business. Let’s take a look at some close ups!

1607b

You’ve gotta admit – it really is painted. Personally, I think there’s something very exquisite about the decor. It’s very much like an old cigar lounge, a back room gentleman’s club kind of ambiance. I wonder if some of the rooms have bear or tiger skins.

One thing that still puzzles me is what kind of business is being run out of this house. Let’s take a closer look outside:

1607a

What are your guesses as to what’s going on here?

Comments (19) -- Posted by: burbed @ 5:08 am

July 27, 2009

NSFB2 (Not Safe For Breakfast): A little deferred maintenance in San Francisco

469 Valley St, San Francisco, CA 94131 | MLS# 356925
469 Valley St San Francisco, CA 94131
Price: $675,000

469a
Beds: 4
Baths: 2
Sq. Ft.: –
Lot Size: –
Property Type: Single-Family Home
Style: Cottage
View: Bay, San Francisco, Twin Peaks, Canyon, Valley
Year Built: 1910
Community: Noe Valley
County: San Francisco
MLS#: 356925
Source: San Francisco MLS
Status: Active
On Redfin: 47 days
Diamond in the rough. Zoning is RH-2. This SFR is a situated on a quiet block of Noe Valley. Current structure is in dilapidated condition. Property has nice views of Noe Valey, Diamond Heights, S/W and S/E views. This is a Probate Sale (IAEA). .. property shall be sold in its physical AS-IS condition.

Looks familiar? It should. Burbed reader Carsten has been keeping tabs on this house and had sent it in back in December! But there were a few slight differences back then:

NSFB (Not Safe For Breakfast): A little deferred maintenance in San Francisco

Back then it was a Contractors Special. Now it’s a Diamond in the rough. And it’s taken a price cut. Frankly, I’m a bit surprised. I would’ve expected this to have been sold already given what an awesome deal it was before. Now its an even more awesome deal!

Just imagine the possibilities. How much lower can this go? What would you build on this lot to maximize its full potential?

Comments (16) -- Posted by: burbed @ 5:40 am

July 26, 2009

U.S. apartment vacancies near historic high: report – Yahoo! News

U.S. apartment vacancies near historic high: report – Yahoo! News

The U.S. recession has taken a toll on the U.S. apartment market, which largely relies on employment growth to fuel demand. Its largest tenant group, 18- to 24-year-olds, has been hardest hit by rising unemployment.

Meanwhile, the apartment buildings sector has led all commercial real estate categories on loan defaults. Second-quarter asking rent fell 0.7 percent from a year earlier to $1,040 a month, and 0.6 percent from the prior quarter, the largest single quarterly decline since Reis began tracking quarterly data in 1999. When free months of rent and other incentives landlords are using to lure tenants are factored in, effective rent was down 1.9 percent from the prior year and 0.9 percent from the first quarter to $975, Reis said. “If you’re a landlord right now at least you’re recognizing that things are tough,” Calanog said.

To maintain occupancy, many landlords, including Equity Residential, Apartment Investment and Management Co, AvalonBay Communities Inc and Mid-America Apartment Communities Inc, have sacrificed rental income and boosted concessions. For example, in New York, the largest U.S. apartment market, vacancies fell 0.5 percentage points to 2.9 percent, despite a 1.7 percent decrease in rent to $2,679 compared with just the prior quarter and a 4 percent fall compared with last year. “It’s very clear there’s some leasing going on, but it’s coming at the cost of a whole lot of concessions offered,” he said.

In other areas, such as Las Vegas, San Francisco and San Jose, California, effective rents dropped more than 2 percent from the prior quarter. Nationally, the picture may grow worse as the year progresses as Reis expects more than 100,000 units from new construction to come onto the market by the end of the year. Some 47,000 units have already come on line this year.

“With general expectations of an economic recovery pushed back to early 2010 at the earliest, it seems likely that apartments will have to endure a few more quarters of distress, lower rents and higher vacancies,” Calanog said.

Thanks to Burbed reader Herve for sending this in. I hate to say this though, but this is very misleading. You see, landlords haven’t really dropped the rent by 2% due to the poor economy here – they’re just dropping to rent to grab marketshare. As we all know, the #1 metric of success in business is marketshare and mindshare – this is Silicon Valley after all.

So please don’t be fooled. You may be thinking “lack of profit = bad” – but that’s last century thinking. In this New New New Economy, the paradigm has shifted. This would be even better if the landlords took on a big stack of debt to help gain even more marketshare! Debt = wealth!

Comments (17) -- Posted by: burbed @ 5:23 am

July 25, 2009

Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security

It’s Saturday and that means it’s time for another Burbed book recommendation!

Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security

FROM THE BACK COVER: Are you caught up in the financial thinking of the last century? That’s when we learned to buy a home and pay it off as quickly as possible. It made sense in the conditions that existed back then. It doesn’t make sense today. How would you like to: 1) Safely leverage and compound assets you didn’t realize you had? 2) Become your own bank and build family wealth? 3) Pile up stock market gains, but never take the losses? 4) Lock-in a rich, secure and carefree retirement? 5) Transform the IRS into your wealth-building partner? 6) Create real wealth, empowering you to help others? 7) Get to your existing retirement funds with little or no taxes? 8) Leave a fortune to your heirs? STOP SITTING ON YOUR ASSETS make these strategies crystal clear — and you can apply them with security and ease. If you own a home, you owe it to yourself to know about today’s new reality: You are sitting on a potential fortune that can safely and confidently be put to work to build a massively abundant financial future. A future so rich that — before STOP SITTING ON YOUR ASSETS — could have only existed in your dreams.

Heh. I love the pun. Assets. Heh.

It’s another Saturday, and another book that pleads with you to load up on debt. There are so many books that recommend you do this, that it must be a solid strategy that you should follow – otherwise why would these authors write them, why would publishes publish them, and why would consumers snap them up?

Looking through some of the other reviews, apparently it has some great tips on how to co-mingle your life insurance and your mortgage together. Intrigued? Buy it and retire wealthy!

And when you do become wealthy, please help this site out, click this link to learn more!

Comments (2) -- Posted by: burbed @ 5:01 am

July 24, 2009

San Jose avoided the housing bubble

Home Sales, All Over the Map – WSJ.com
In California, San Diego and Sacramento both have become much more affordable, she says. Ms. Kahn also thinks prospects are relatively good in Denver; Raleigh, N.C.; San Jose, Calif.; and the Texas cities of Austin and San Antonio—areas that generally avoided the housing bubble and so don’t have as much need to adjust.

Newflash everyone!

San Jose avoided the housing bubble! The prices are real! The prices are real!

OMG stop waiting for the bottom! Buy buy buy!

Comments (186) -- Posted by: burbed @ 6:48 am

Half a house available in San Carlos – now affordable!

1651 ALAMEDA, San Carlos, CA 94070 | MLS# 80902356
1651 ALAMEDA San Carlos, CA 94070
Price: $550,000

1651
Beds: 2
Baths: 1
Sq. Ft.: 920
$/Sq. Ft.: $598
Lot Size: 4,480 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Stories: 1
Year Built: 1947
Community: El Sereno Corte
County: San Mateo
MLS#: 80902356
Source: MLSListings
Status: Active
On Redfin: 178 days
CONTRACTOR SPECIAL!! Approved plans and permits are ready for new master bedroom, bathroom and great room. Work on the new addition was started but not completed. Exsisting house has 2 bedrooms, 1 bath, hardwood floors and crown molding throughout.

Thanks to Burbed reader Herve for this find. It’s Herve week!

Let’s face it, the economy is still a bit shakey and not everything is on the up and up. Facebook still hasn’t IPOed yet, unleashing a new wave of millionaires.

When times get tough, real estate definitely steps up to help those in need. That’s where this house comes in. Can’t afford a whole house in San Carlos? Why not buy half a house for now!

That’s right! Buy half a house now, save up, build some amazing equity, get some pride of ownership going on, and then boom buy the other half in 2 years.

Hey, let’s not forget that this half even comes with crown molding – classsssssy!

So join San Carlos – buy half a house today. Just throw up some mirrors or something, no one will notice when you invite them over. Trust me!

Comments (7) -- Posted by: burbed @ 5:36 am

July 23, 2009

Affordable housing in Woodside – this house is cheap!

633 Southdale Way, Woodside, CA 94062 – Zillow
633 Southdale Way Woodside CA 94062

For Sale: $695,000

633

3 beds, 1.0 baths, 1,140 sq ft
Seller Facts:

* 3 beds
* 1.0 bath
* 1,140 sqft
* Lot 37,897 sqft
* Built in 1937

Knoll top setting in Emerald Hills area of Woodside. House is in very poor condition and needs lots of work before it can be used. Do not enter property without appt.

Thanks to Burbed reader Herve for this find. It’s Herve week!

I always get confused – is Emerald Hills in Redwood City or is it in Woodside? Most online maps say Redwood City.

It’s a big difference! If this is indeed in Woodside, then the affordable housing problem is solved. Just look at this deal!

If this house is in Redwood City, then… uh… maybe not. It’s still a pretty good deal and its consistent in condition with many other houses in the city.

Any area experts what to help clarify the territory?

Comments (20) -- Posted by: burbed @ 5:49 am