July 23, 2009

Can someone help Jennifer Hu with Century 21 Su Casa and Mariposa Mortgage?

Kulwinder Singh, Su Casa, and the $2,500 condo | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com
Jennifer Hu Says:
July 22nd, 2009 at 2:25 am

A similar situation happened to me. I was tricked into “having a house under my name for a few months”. And all of a sudden found out I owned 1 house and 1 triplex in Stockton. I never signed or saw any documents and now they have gone under forclosure. The people who scammed me were Simon Dante Lopez Jr. from Mariposa Mortgage and Pete and Anna Flores from Centry21 Su Casa. They lied about my income, and also said i worked for one of the centry21 Su Casa “fake business” like a trucking company! Where can we get help and justice! Now my credit is ruined and I have Tax issues. If there is anybody out there to help, please reply if anybody can help me I’d appreciate any advice.

Now, that’s what Jennifer alleges. But let’s assume this is true.

In the Bay Area spirit of everyone helping out everyone else – does anyone here have thoughts on how to help Jennifer out?

Comments (12) -- Posted by: burbed @ 4:24 am






July 22, 2009

$140k in trapped equity waiting for you in Belmont!

1716 TERRACE Dr, Belmont, CA 94002 | MLS# 80917644
1716 TERRACE Dr Belmont, CA 94002
Price: $849,000

1716
Beds: 3
Baths: 2.5
Sq. Ft.: 1,730
$/Sq. Ft.: $491
Lot Size: 0.27 Acres
Property Type: Detached Single Family
Stories: Tri-Level
View: Mountains, Canyon, City Lights
Year Built: 1966
Community: Belmont Country Club
County: San Mateo
MLS#: 80917644
Source: MLSListings
Status: Active
On Redfin: 94 days
Priced to Sell Quick! Lovely Custom home tucked away in a private setting on a very large lot. Spend your evenings entertaining on the huge brick covered patio with views of the mountains and valley below. A sunken living room and soaring vaulted ceilings are lit up from the array of custom windows. The living area includes 1 master and 2 standard bedrooms and tons of closet space!

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

Herve thought iwas amusing that this house said that it was priced to sell quick, but that… well…. it still wasn’t sold!

Frankly, I’m kind of surprised as well… just look at all the trapped equity waiting for you:

1716a

What could this owner possibly do to sell this even more quickly? Give it away for free?

Comments (29) -- Posted by: burbed @ 5:16 am

July 21, 2009

Amazing sky views in Woodside. Fantastic realtor photos.

515 EASTVIEW Way, Woodside, CA 94062 | MLS# 80925593
515 EASTVIEW Way Woodside, CA 94062

515
Price: $1,650,000
Beds: 3
Baths: 2
Sq. Ft.: 1,350
$/Sq. Ft.: $1,222
Lot Size: 1.32 Acres
Property Type: Detached Single Family
Style: Ranch, Contemporary
Stories: 1
View: Valley
Year Built: 1938
Community: Emerald Hills Area
County: San Mateo
MLS#: 80925593
Source: MLSListings
Status: Pending Without Release
On Redfin: 46 days
Trust Sale, present as is condition. Solid older home, fenced horse property; barn. Home needs updating but in good condition. Near multimillion dollar homes. One point 3 acres fenced. Room for trailer, rv parking.

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

Let’s face it… all around the world, it is a well known fact that Woodside is unique in so many ways. The (future) home of Steve Jobs, many other CEOs and rich people – it’s proof that the Real Bay Area is truly magical.

Just look at the sky in this photo. It’s a combination of two things:

1. That the amazing aura of so many wealthy people can clear up clouds, and produce a perfectly blue sky. If you had just ordinary people, it wouldn’t look like that.

2. Amazing photography skills by Realtors. Only a licensed, 3-6% earning Realtor can capture a moment like this.

Looking at this photo simply brings tears to my eyes. My god is the Real Bay Area beautiful. So beautiful. Thank you Realtor for helping the world see it!

Comments (29) -- Posted by: burbed @ 5:40 am

July 20, 2009

Do not enter property without licensed realtor

545 PALMER Ln, Menlo Park, CA 94025 | MLS# 80928864
545 PALMER Ln Menlo Park, CA 94025
Price: $500,000

545
Beds: 2
Baths: 1
Sq. Ft.: 1,050
$/Sq. Ft.: $476
Lot Size: 0.43 Acres
Property Type: Detached Single Family
Stories: 1
Year Built: 1936
Community: County Area/Fair Oaks Ave
County: San Mateo
MLS#: 80928864
Source: MLSListings
Status: Active
On Redfin: 27 days
Unique Investment Opportunity for All-Cash Buyer. Land Value Only. Remodel work done on 2 bed/1 bath bungalow has no permits and isn’t completed. Potential buyers to determine subdividability prior to submitting offer. Do not enter property without licensed realtor. Short Sale.

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

Frankly I’m amazed at how self sacrificing Realtors are. This house (houses?) are so dangerous that you will need a licensed realtor to serve as your guardian when you enter to inspect it. Did you know that licensed realtors are also certified in CPR and have to pass firefighters exams? I didn’t. But clearly they must!

I can just imagine it now, you enter the house, and you are so overwhelmed by the value that you pass out. Then, the licensed Realtor will swiftly pick you up, and carry you out of the structure – evoking memories of this fine movie.

If only we had more licensed realtors, the world would be a safer place. If only.

Comments (12) -- Posted by: burbed @ 5:10 am

July 19, 2009

San Francisco, San Jose, PMI, Risk Rank, Appreciation Volatility

Here’s some data I captured from the PMI website:

MSA San Francisco-San Mateo-Redwood City San Jose-Sunnyvale-Santa Clara New York-White Plains-Wayne
Risk Rank Elevated High High
Risk Index 2008 Q4 31.6 51.4 67.6
Risk Index 2009 Q1 66.2 78.4 87.8
Price Appreciation Volatility 15.4 18.7 14.4
Price Appreciation 2008 Q4 .17 -18.36 -2.13
Price Appreciation 2009 Q1 -17.02 -4.43 -6.00
Affordability Index 2008 Q4 118.38 112.75 85.60
Affordability Index 2009 Q1 129.85 132.34 97.19
Unemployment Rate 2009 Q1 8.0 10.2 7.9

We’re number 1! We’re number 1!

Congrats to the Bay Area for continuing to be more unaffordable than NYC Metro – while having a higher unemployment rate to boot!

This is one of those moments that we should all be so very proud of.

Great work everyone!

Comments (52) -- Posted by: burbed @ 5:01 am

Why does Orange Juice cost 75% more in San Jose?

Cost of Living: How Much For a T-Bone Steak? – Slideshows – CNBC.com
Orange Juice

High Price — San Jose, Calif.: $5.73
Low Price — Los Alamos, N.M.: $2.50
National Average: $3.27

Thanks to Burbed reader Ek for this find.

People outside of the Bay Area probably wouldn’t understand this – but the fact is that the orange juice is much fresher and tastes better when it is had in San Jose. The perfect weather, the perfect air, the perfect people all combined to make this orange drink even oh so refreshing. In fact, it’s 75% more refreshing!

Comments (2) -- Posted by: burbed @ 4:36 am

July 18, 2009

Roll over your IRA/401k into Real Estate

Burbed reader Sue was at the Menlo Park fair and she noticed this:

mpfair

This is what she had to say:

Gotta love the con artist and his bimbo. Oddly, they weren’t getting much business!

Hey, as we all know, stocks can lose money. But Real Estate? That’s a can’t lose in the long run. It doubles every 10 years whereas the stock market? Who knows!

Thanks Sue for the find!

Comments (22) -- Posted by: burbed @ 2:32 pm

Untapped Riches: Never Pay Off Your Mortgage — and Other Surprising Secrets for Building Wealth

It Saturday! That means it’s time for Burbed book recommendation!

Untapped Riches: Never Pay Off Your Mortgage — and Other Surprising Secrets for Building Wealth

Why do some folks get rich while others just get by? The biggest stumbling block for most people is believing they lack the capital required for serious wealth-building. Untapped Riches dispels this myth. This remarkable book reveals that most homeowners are in fact sitting on “untapped riches.” Working diligently to pay down mortgages, they are unwittingly tying up money in equity they could be investing elsewhere for greater return.

Offering 40 wealth-building and wealth-protection strategies, many of which fly in the face of conventional wisdom, Untapped Riches will change how readers think about borrowing money, investing, and mortgages. Challenging the idea that it is more financially sound to be debt-free, the authors believe that there is both good and bad debt — and that the former is essential to generating cash flow and building significant wealth. Real estate tycoons know it’s all about leverage. Now, the authors, who made their own fortune in real estate, show how anyone can get the cash they need, and really put it to work.

Why pay off your mortgage when you can easily use that money to earn more money! Like… buying more real estate!

Let’s face it, debt equals wealth. It’s what saved this this country in the first part of this century, and… uh… yeah!

Being debt free is for suckers. It’s what The Man wants you to believe is a good thing, so that you’ll never rise and become wealthy!

So load up on debt, and while you’re at it, help this site out, click this link to learn more!

Comments (8) -- Posted by: burbed @ 5:57 am

July 17, 2009

Study finds more millionaires in Bay Area

Study finds more millionaires in Bay Area
(07-15) 18:29 PDT — Last year, the S&P index dropped nearly 40 percent, regional home prices fell by almost half and the state unemployment rate zoomed to the brink of double digits, so obviously the number of Bay Area millionaires … climbed?

Believe it or not, that’s the conclusion of a report released Wednesday by Merrill Lynch. Several economists, however, quickly placed themselves in the “not” camp.

The World Wealth Report, produced by Merrill and market research firm Claritas, found that the number of millionaire households across the nine-county Bay Area climbed to 136,120 last year, up 10.2 percent from 123,621 in 2007.

In fact, all three regions surveyed in the Golden State (Los Angeles, San Diego and San Francisco areas) increased in wealth last year, in sharp contrast to national and global trends, said Mike Riherd, senior vice president of investments in the Walnut Creek office of Merrill.

[snip]

The report predicts that the number of millionaires in the Bay Area will increase by 20 percent by 2013. The wealth of millionaires worldwide will swell by 48 percent during that time, from $32.8 trillion to $48.5 trillion, it said.

The study defined millionaires as having $1 million worth of “investable assets,” which exclude things like their primary residence, collectibles and consumables.

Congrats Bay Area! With all these millionaires, I know we are set to blast off for returning to the normal 10% year over year appreciation for houses in the Real Bay Area.

Great work everyone!

Comments (22) -- Posted by: burbed @ 6:38 am

$400k house in San Jose – it’s practically a mansion!

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

1522 SUNDOWN Ln, San Jose, CA 95127 | MLS# 80829694
1522 SUNDOWN Ln San Jose, CA 95127
Price: $400,000

1522
Beds: 6
Baths: 2.5
Sq. Ft.: 1,040
$/Sq. Ft.: $385
Lot Size: 5,820 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
View: Neighborhood
Year Built: 1957
Community: Alum Rock
County: Santa Clara
MLS#: 80829694
Source: MLSListings
Status: Active
On Redfin: 324 days
6 bedroom/2.5 bath home located on a large lot!

Hey now this isn’t bad! 6 bedrooms with 2.5 baths! Sure it’s constructed in such a way that the front entrance door looks like a port-a-potty from far away, but heck, this is basically a Bay Area mansion for just $400k!

With so many rooms, you can easily rent them out and make some money to help pay the rent.

But here’s the Friday shocker:

1522a

Yep. That’s right. Just a few short months ago this house was listing for under $400k! In fact, it was $300k. Now, with the recession over, the stimulus stimulating everything, the price has gone back up to $400k. Better buy it now before it becomes $500k next year!

Comments (9) -- Posted by: burbed @ 5:42 am