July 16, 2009

Bay Area home prices, sales rise

Bay Area home prices, sales rise
(07-16) 09:56 PDT San Francisco — Bay Area home prices rose month-over-month for the third straight time as sales reached their highest level in three years last month, fueling hopes that the limping real estate market is slowly beginning to heal.

Across the nine-county region, 6,518 existing, single-family homes traded hands, up 27.8 percent from a year ago in June, according to San Diego research firm MDA DataQuick. The median price paid was $360,000, down 29.4 percent from a year earlier but up nearly 7 percent from May.

DataQuick attributed the gathering strength to a growing perception among buyers that prices have bottomed out and the increasing availability of mortgages.

OMG! OMG! OMG!

The good times are coming back everyone! Woohoo!

Comments (37) -- Posted by: burbed @ 11:39 am






$399k house in Sunnyvale – what well kept homes look like

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.

761 SANTA PAULA Ave, Sunnyvale, CA 94085 | MLS# 80931705
761 SANTA PAULA Ave Sunnyvale, CA 94085
Price: $399,000

761
Beds: 3
Baths: 1
Sq. Ft.: 1,078
$/Sq. Ft.: $370
Lot Size: 5,148 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1954
Community: Sunnyvale
County: Santa Clara
MLS#: 80931705
Source: MLSListings
Status: Active
On Redfin: 11 days
Well kept home, perfect for the first time home buyer or investor.

The lack of affordable housing in Sunnyvale is now solved. And, this is a well kept home! Let’s take a look inside!

761a

I love the combination of granite countertops, wood panel walls, bright brick fireplaces, and what looks like a RV-turned-into a sunroom.

What? That’s not well kept you sniff? Well… this is Bay Area Well Kept (BAWK). Learn to enjoy it.

At just $400k anyone can easily snap this house up.

And guess what! Back in 2007 this house sold for $665k! So whomever buys it now earns $266k in instant equity!

If this isn’t a winner, I don’t know what is. Take that Houston!

Comments (24) -- Posted by: burbed @ 5:48 am

July 15, 2009

$411k house in Daly City – turn a shipping container into a house?

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.

758 SKYLINE Dr, Daly City, CA 94015 | MLS# 80927229
758 SKYLINE Dr Daly City, CA 94015
Price: $411,000

758
Beds: 3
Baths: 1
Sq. Ft.: 1,120
$/Sq. Ft.: $367
Lot Size: 3,300 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
Year Built: 1958
Community: Westlake Terrace
County: San Mateo
MLS#: 80927229
Source: MLSListings
Status: Active
On Redfin: 26 days
This 3 bdrm 1 ba is a must see! Remod kit w/ custom cabinets, tile counter tops, ceramic floors w/ new lighting fixtures. Remodeled bathroom. Wood floors refurnished. Fireplace in living room. Buyers are responsible for $75 doc fee due @ close of escrow. Any offers or counter offers by Indymac bank are not binding unless entire aggrmnt is ratified by partners. Offers to be submitted by 5pm on 6/12.

All the time you hear people demand greater transparency. Well this house offers it. Now, you as the buyer won’t be left wondering “Gosh, who will be paying the $75 doc fee.”

Yes, I know. This could be a potential deal breaker. Sure it is 1.82e-4 of the purchase price, but still – money is money!

So cheers to the listing agent for making this clear. Cheers to the fact that the bank it mentions doesn’t really exist. Cheers to this gerat opportunity to live in a house in Daly City that looks a lot like a shipping container.

Cheers all around!

Comments (18) -- Posted by: burbed @ 5:11 am

July 14, 2009

$425k house in San Mateo – RV parking in back of home

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.

1819 HAMLET St, San Mateo, CA 94403 | MLS# 80927588
1819 HAMLET St San Mateo, CA 94403
Price: $425,000

1819
Beds: 3
Baths: 2
Sq. Ft.: 1,220
$/Sq. Ft.: $348
Lot Size: 5,280 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
View: Neighborhood
Year Built: 1954
Community: Parkside
County: San Mateo
MLS#: 80927588
Source: MLSListings
Status: Active
On Redfin: 24 days
3 Bedroom, 2 Bath Parkside Fixer Upper! Hardwood Floors under carpeting. RV parking in back of home. This home has a lot of potential, but is a contractor’s special. This is a Probate Sale, with possible court confirmation.

Alright, at $425,000 this is a tad more expensive than the $400k price point we were aiming for. But let’s face it, this house is full of potential. You’ve got what clearly is part of an original Roman empire wall (who knew they got all the way to San Mateo) and some giant kitty litter boxes for your lions!

It’s a contractor’s special, and as we all know, a huge part of Silicon Valley’s workforce is self-employed as contractors. So go ahead you RoR contractor – this house is for you!

And while you’re fixing it up, just camp out in your RV behind the house – ‘cuz this house has room for one and is just dying for one.

Win win win!

Comments (21) -- Posted by: burbed @ 5:01 am

July 13, 2009

$400k house in Santa Clara – moving fast!

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.

2631 MONTICELLO Way, Santa Clara, CA 95051 | MLS# 80921648
2631 MONTICELLO Way Santa Clara, CA 95051
Price: $399,000

2631
Beds: 3
Baths: 2
Sq. Ft.: 1,095
$/Sq. Ft.: $364
Lot Size: 6,300 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1960
Community: Santa Clara
County: Santa Clara
MLS#: 80921648
Source: MLSListings
Status: Active
On Redfin: 59 days
NICE HOUSE IN A GOOD AREA CLOSE TO SCHOOLS AND STORES, PARKS, 3 BED ROOMS 2 BATHS, COME TO SEE IT AND MAKE YOUR BEST OFFER.

I know what you’re thinking – wow… why get a mansion everywhere else when you can get this house in Santa Clara!

But wait, there’s more! Let’s look at the 2 interior pics:

2631a

Let’s ignore the fact that the fridge seems to be modified so that it can be padlocked for a moment. The fact is that this house is moving so fast that the realtor can’t take any non-motion blurred pics!

While he was standing there, offers started to pour in, and interest in the house shot off.

Look, one of the exterior photos even includes prospective buyers. Hey, guess what? They’re from Moscow. They’re here with their oil money. In Santa Clara. Competing with all the other foreigners who are trying to invest in the Best.

They’re thinking “$400k! This is a steal!”. And it is!

Comments (67) -- Posted by: burbed @ 5:43 am

July 12, 2009

Properties for $400,000 – The New York Times

Properties for $400,000 – The New York Times > Great Homes and Destinations > Slide Show > Slide 7 of 20
HOUSTON

$399,000

houston

A four-bedroom house in Ponderosa Forest, a suburban neighborhood outside the beltway that encircles the core of Houston, is on the market for $399,000.

Thanks to Burbed reader James for sharing this. He thought that readers here would be interested in knowing more about what $400,000 can buy in Houston.

Personally, I’m just disappointed that these NY elitests once again forgot to show off what can be purchased in the Bay Area (Real or otherwise) for $400,000.

Anyway, who wants to live in Houston, Chicago, or New Haven (featured in this link)?

This week, Burbed will show you what $400,000 can buy in the Bay Area.

Thanks James!

Comments (15) -- Posted by: burbed @ 5:14 am

July 11, 2009

Let me know if the site is acting strange…

I’m not a very good admin – so I’m trying out some more tools to help make things better (and to help the behind-the-scenes spam problem that you don’t see). I’m trying out AskApache Password Protect. Do let me know in the comment if something gets busted. Thanks!

Comments (5) -- Posted by: burbed @ 4:02 pm

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow – Steve Dexter

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow

One of Robert Bruss’Top 10 Real Estate Books of 2006

“Reveals mortgage-lending secrets most home buyers, realty agents and investors have never heard before. On my scale of one to 10, this superb new book rates an off-the-chart 12.”
(Bruss, Robert J. Inman News Features )

Product Description

LEVERAGE THE LOANS AND FINANCING THAT CAN GIVE YOU BIG PROFITS!

You don’t have to wait for years saving up your first down payment before you start investing in real estate. Instead, you can put up a small percentage of a down payment and let a loan from the bank finance the rest. When it’s time to sell, you pay the bank for the original loan, and any profit goes right in your pocket.

But even seasoned real estate investors need a guide to help them through the maze of different loan products and financing options that banks offer. Real estate finance expert Steve Dexter takes you into the hidden world of leveraged investing-essentially using “other people’s money” to earn massive profits. With simple, straightforward advice, this book…

* Offers strategies for minimizing a down payment in order to maximize investment return
* Simplifies all tax issues related to real estate debt
* Gives strategies on making yourself more creditworthy
* Provides bonus insider advice on how to find the best properties

Thanks to Burbed reader Real Estater for this book recommendation.

Let’s face it, anyone who has studied corporate finances knows that debt is often a critical tool in ensuring your company is run in the most efficient matter. And are most families companies these days?

So lever up! Use OPM (there’s that word again) to maximize your cash flow and shield your income from taxes. Frankly, I think families should be able to IPO, but that’s another rant for antoher day.

Has anyone read this book? The idea of borrowing tons of money to become rich makes perfect sense in the Bay Area economics. Take than Krugman!

And when you do become rich, if you’re looking to help this site out, click this link to learn more!

Comments (4) -- Posted by: burbed @ 5:27 am

July 10, 2009

This Richmond, San Francisco house keeps SF in the Real Bay Area

341 Cornwall St, San Francisco, CA 94118 – Zillow
341 Cornwall St San Francisco CA 94118

3 beds, 2.5 baths, 1,690 sq ft
Close

For Sale: $1,195,000,100

341

Loan type:
Interest Rate:
%

Down payment:
% ($239,000,020)

Include estimated taxes and insurance
Estimated payment: $5,424,729

* 3 beds
* 2.5 bath
* Built in 1907

Seller’s Description:

Charming Edwardian home in convenient location near Lake Street, Laurel Village shopping, Mountain Lake Park, and transportation. This home has three bedrooms and two baths on one level as well as a sunroom that overlooks deep rear garden. Beautiful sunny foyer with beveled mirrors leads to the living room with fireplace, separated by pocket doors from the formal dining room with built-in sideboard, and also opens to the kitchen which overlooks deck and garden. This floor is completed by a powder room. Lower level has large garage, laundry and extra storage.

Thanks to Burbed reader Jason for this find.

I’m going to keep this one terse. All I can say is that this house definitely keeps San Francisco in the Real Bay Area.

Comments (19) -- Posted by: burbed @ 5:35 am

July 9, 2009

Funny street view for an affordable San Jose house

671 W VIRGINIA St, San Jose, CA 95125 | MLS# 80924704
671 W VIRGINIA St San Jose, CA 95125
Price: $429,900

671
Beds: 3
Baths: 2
Sq. Ft.: 1,677
$/Sq. Ft.: $256
Lot Size: 9,960 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1936
Community: Willow Glen
County: Santa Clara
MLS#: 80924704
Source: MLSListings
Status: Active
On Redfin: 33 days
This large 3/2 has many updates and a bonus room that could be used as a fourth bedroom or a den. There is a two car detached garage and side yard parking!

Burbed reader Derek sent this in.

Frankly, there’s nothing wrong with this house. I mean, it’s actually an amazing deal.

But as a cheap joke, here’s the Street View:

671a

Well… if you ever wanted a view of 280, this house is for you. And at this price, you might as well buy it as a spare house for your in-laws or something!

Comments (45) -- Posted by: burbed @ 5:27 am