September 16, 2009

Housing is now affordable in Downtown Mountain View!

545 W DANA St, Mountain View, CA 94041 | MLS# 80940059
545 W DANA St Mountain View, CA 94041
Price: $600,000

545
Beds: 2
Baths: 1.5
Sq. Ft.: 850
$/Sq. Ft.: $706
Lot Size: 2,500 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: Neighborhood
Year Built: 1916
Community: Downtown
County: Santa Clara
MLS#: 80940059
Source: MLSListings
Status: Pending Without Release
On Redfin: 19 days
* * Open housSaturday, 8/22 1:30-4:30 pm & Sunday 8/23 10am-1pm * * Fabulous downtown Mountain View charmer. Upgraded home w/ granite kitchen, cherry cabinets & stainless steel applcs. High ceilings, 6-panel interior doors, laminated floors & double pane windows. Wonderful master suite, stall shower in 2nd bedroom. Indoor laundry. Walk to bistros shops, dining, Caltrain, Castro Station & Farmer’s Marke

Thanks to Burbed reader Stephen for this find.

Wow… $600,000 for a house in Downtown Mountain View. This is simply amazing. Who would’ve ever thought this day would come. Fortunately, the house is only 850 sqft, so the price per square foot is a health $706. Phew!

Stephen thinks this house’s value comes from the fact that you’ll get a free set of funky lenses so you can constantly see everything in a wide perspective in your house. Me? I think it’s from the fresh paint, the fresh pergo, and the other freshness that makes this house, Mountain View fresh.

Personally, I like this picture the best:

Flower

Hm, I wonder how long those flowers are going to last…

UPDATE: Unfortunately, it appears that it may have been sold. Anyone want to place bets on the price?

Comments (21) -- Posted by: burbed @ 5:25 am






September 15, 2009

This house is ripped straight from the headlines…

1117 HAZELWOOD Ave, Campbell, CA 95008 | MLS# 80940247
1117 HAZELWOOD Ave Campbell, CA 95008
Price: $419,000

1117
Beds: 2
Baths: 1
Sq. Ft.: 819
$/Sq. Ft.: $512
Lot Size: 0.32 Acres
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1939
Community: Campbell
County: Santa Clara
MLS#: 80940247
Source: MLSListings
Status: Pending Without Release
On Redfin: 18 days
FANTASTIC OPPORTUNITY, CHECK OUT THIS EXCELLENT VALUE FOR A 13k FLAT PARCEL. CAN BUILD A CUSTOM AFFORDABLE HOME IN A GREAT CAMPBELL LOCATION. TAKE ADVANTAGE OF THIS GREAT OPPURTUNITY. CLOSE TO SCHOOLS , SHOPPING, FREEWAYS.

Thanks to Burbed reader Herve for this find.

This Realtor is clearly tapping the interest and news surrounding recent abduction recovery events, to present to you 1117 Hazelwood Ave in Campbell.

Have you thought about starting your own compound? If so, this house is for you. Just look at how versatile the yard can be! You can have all sorts of shacks, tents, RV’s, vans, trailers in the back. And, with the fence, you can keep those nosey neighbors out!

Privacy, flexibility – this house has it all for you. It’s just waiting for you to bring your imagination. Maybe you could even open a small amusement park!

What will you bring to this great property?

Tags:
Comments (9) -- Posted by: burbed @ 5:12 am

Key San Mateo County Income Figures

This was an interesting comment posted yesterday:

Redwood City palace with amazing columns! | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com

SanMatean Says:
September 14th, 2009 at 3:12 pm

After reflection, I’m somewhat surprised that the income numbers look as good as they do for 2008. Recall that December 2008 marked Dow 8000, almost 6000 points lower (or -43%) than a year before. This means scores of people lost income that would have been derived from stock option sales, etc. The national unemployment rate also surged from 4.9% to 7.2% in 2008. Again, this should have tanked income, and yet nominal income increased in 2008!

2009 will likely prove worse for income than 2008. U.S. unemployment has grown up to 9.7% so far this year- the legions of unemployed will drag the median income stat down. This may be offset by the recovery of the Dow, from below 6500 in March to over 9500 today, but more than likely we will see a drop in nominal incomes in 2009.

Since housing is paid for in nominal dollars (just try inflation-adjusting your next mortgage payment), a drop in nominal pay will push housing values further down. This will, inevitably, forestall the stabilization of the housing market.

I’ve tracked income stats for San Mateo County (SMC) for some time, and found two particularly important numbers- $44820 and $106278. The former refers to median SMC income in 1989, and the latter refers to SMC income in 2008, according to the CA franchise tax board. This implies an average income growth rate of 4.6% per annum. If you normalize the case-shiller SM MSA aggregate index for 4.6% annual growth, you’ll find that we are currently at 1987 pricing. Strange, huh? What could that mean?

I think it means that houses are incredibly undervalued, and that there is a lot of equity waiting for you to tap!

Comments (191) -- Posted by: burbed @ 4:20 am

September 14, 2009

Redwood City palace with amazing columns!

504 ALAMEDA DE LAS PULGAS, Redwood City, CA 94062 | MLS# 80933551
504 ALAMEDA DE LAS PULGAS Redwood City, CA 94062
Price: $1,159,988

504
Beds: 5
Baths: 4
Sq. Ft.: 3,950
$/Sq. Ft.: $294
Lot Size: 9,350 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: Bi/Split Level
Year Built: 2004
Community: Cordilleras Heights
County: San Mateo
MLS#: 80933551
Source: MLSListings
Status: Active
On Redfin: 35 days
Reduced $190,000 for a quick sale. Stunning custom designed 5 Bed/4 Bath. approximately 3950 Sq. ft. of charming living space. Elegant finishes and materials. Open floor plan featuring three bedrooms two baths upstairs and two-bedroom one-bath downstairs, In-law unit with separate entrance. Beautiful hardwood floors, Double Paned Windows, Crown Molding and Skylights. Easy access to Highway 101 & 280

Thanks to Burbed reader M.R. for this amazing find.

WOWSERS! Check out those columns. Right there. $1 million dollars.

But wait, there’s more! It’s even got an in-law unit (cha-ching!) and allt he nicest materials.

And did I mention: COLUMNS!

Here – let’s take a quick look at one of your neighbors:

504a

You know, usually they tell you “Buy the worst house in the best neighborhood.” But guess what – sometimes it’s ok to have a special treat. You’ve made it. Go for it. Buy the nicest house on the street.

Just think about how jealous the neighbor must feel everyday. His pride of ownership is far less than yours!

Comments (31) -- Posted by: burbed @ 5:36 am

September 13, 2009

Homeowners in outcry over their HELOCs – San Jose Mercury News

Homeowners in outcry over their HELOCs – San Jose Mercury News
A growing number of homeowners in the Bay Area and around the country are finding themselves unable to borrow against the equity in their home, as beleaguered banks take away a financial safety net many homeowners had counted on.And now some of those homeowners are fighting back.

Cupertino homeowners Jeff and Jenifer Schulken filed suit this summer against JP Morgan Chase, charging that the bank unfairly terminated their home equity line of credit even though the couple provided documents showing that they could repay the money.”They weren’t even interested in verifying whether I could pay it back. They just want these things off the books,” Jeff Schulken said, adding he had $160,000 available on his credit line in March when he got a letter from Chase asking for tax documents. He sent them immediately, and was told when he called the bank that the inquiry was only a formality and his equity line was not in jeopardy.”The next morning, I got online and we had zero available credit,” he said.A spokeswoman for Chase said the company would not comment on pending litigation.

In the early part of this decade, home equity lines of credit, or HELOCs, were a regular feature of Silicon Valley homeownership. Longtime owners sitting on a few hundred thousand dollars in equity could easily borrow against it to remodel, pay their children’s college tuition, or use as a rainy-day fund.

Thanks to Burbed reader Herve for this find.

Let’s call a spade a spade – this is our arch nemesis’ (Manhattan) attempt to cut us down… to demoralize us. It’s psychological warfare at its best.

They’ve seen the threat and now they’re resorting to below-the-belt tactics like this.

But. The Real Bay Area will prevail.

Using our world famous innovation, our smart people, our great weather, we will find ways to extract the equity from our homes.

We will not be deterred from our unifying goal of finally beating the entire New York City (we’ve already beaten 4/5′s) in having the highest housing prices.

I know we can do it.

Comments (10) -- Posted by: burbed @ 6:48 am

Advice on how to get rich from David Bach

Yahoo! Personal Finance: Calculators,Money Advice,Guides,& More
With my new book, “The Automatic Millionaire Homeowner,” I aim to demystify the process of home buying and provide you with a common-sense way of looking at a real estate market that often seems crazy. If you’re a renter, the book is meant to give you the motivation as well as the tools to make the dream of homeownership a reality. If you already own a home, it will teach you how to make it the foundation on which a lifetime of financial security can be built. What follows is a sneak preview of the book, which launches in March.

The Homeownership Dream — and the Results

From 2001 to 2005, the average homeowner saw the value of his or her house jump by more than 50 percent. Many homeowners doubled, tripled, and in some cases even quadrupled their wealth in just five years because of exploding real estate values.

Imagine that. Buy a home, live in it, build your wealth, get great tax deductions — and then retire rich. It may sound too good to be true.

Indeed, plenty of experts will tell you that the housing boom never happened. According to them, what we’ve experienced over the last few years was just a “bubble” that’s going to pop any minute now. Others insist that whether it was a boom or a bubble, it’s over. According to them, it’s now too late to get in on the party.

The American Dream Is No Fantasy

I think both these positions are wrong. My view is that the American dream of building a nest egg by owning a home is no fantasy. Homeowners have been getting rich off their real estate for years, and they will continue to do so in the future.

How can I be so confident about the real estate road to riches? Well, U.S. real estate values have been going up steadily for nearly four decades — an average of 6.3 percent a year since 1968, which is when the National Association of Realtors first started keeping track. According to Freddie Mac (a.k.a., the Federal Home Loan Mortgage Corporation), since 1950 U.S. house prices have never experienced a year-to-year decline nationally. Compare that to the S&P 500, a major stock-market indicator that has had no less than a dozen down years in the same period — or the market for U.S. Treasury bonds, which has fallen in 17 of the last 55 years.

Of course, just because home prices have been rising for the last half-century doesn’t mean they’re going to continue doing so. But real estate’s phenomenal track record is not the only reason you should want to become a homeowner. Here are five more.

There’s more of course, but I figured I’d stop here. You can click the link to read the full advice.

Let’s face it, posted in 2006, this advice this advice didn’t work for everyone. But that’s because they didn’t buy in the Real Bay Area. Now’s your chance to become rich.

Become an Automatic Real Bay Area Millionaire today!

Comments (2) -- Posted by: burbed @ 5:00 am

September 12, 2009

Equity Happens: Building Lifelong Wealth with Real Estate

It’s Saturday, and therefore it’s time for Burbed’s book of the week!

Amazon.com: Equity Happens: Building Lifelong Wealth with Real Estate (9780977488704): Robert Helms, Russell Gray: Books
Equity Happens: Building Lifelong Wealth with Real Estate (Paperback)
by Robert Helms (Author), Russell Gray (Author)

Life happens. Stuff happens. Equity happens.

Like all other things in life, you have to be ready for whatever comes your way.

For example, what will you do if you if suddenly got $250k in instant equity because the school you live next to, with its annoying, tax sucking children, is torn down to build a convenient mini mall with elite cupcakes, frozen yogurt, and sushi stores?

Or… what will you do if you suddenly got $1 million in equity over the long term from living in house for 40 years, retired, paying $1000 a year in property tax while your new annoying working neighbors who clutter up the streets with traffic pay a measly $10,000 in property tax?

All of these are possible in the Bay Area. You must be prepared.

You know important this is? It’s so important that this book is temporarily out of stock! So you’d better put in your order today!

And equity does happen to you, please help this site out, click this link to learn more!

Comments (4) -- Posted by: burbed @ 5:22 am

September 11, 2009

The Bottom Has really been reached in San Jose

1175 Pipe Dream Ct, San Jose, CA 95122 MLS# 80940692 – Property Details
1175 Pipe Dream Ct, San Jose, CA

$275,000

1175

Status: Active
Bedroom: 3
Bathroom: 2&1/2

* Year Built: 1998
* Lot Size: 2613
* Square Footage: 1292
* List Date: 8/24/2009
* Garage Spaces: 1
* MLS#: 80940692

Thanks to Burbed reader sonarrat for this find.

Hm, this sure seems familiar. Oh wait…

http://www.burbed.com/2008/08/13/pipe-dreams-in-san-jose/

But nonetheless, I’m sharing this fine East San Jose home with you because Burbed reader Jeff thought I should. Something about the name of the the street really struck him: Pipe Dream Ct.

If this house isn’t the apex, the epitome, the pinnacle of the American dream, I’m not sure what is. And now, it can be yours at the low price of just $495 per square foot, and located in the up and coming, vibrant, colorful neighborhood known as East San Jose.

As noted in the past few entries, the bottom has clearly been reached, so don’t hesitate – go now to buy this slice of your dream.

Uh. Yeah.

So I might have been a bit premature about calling the bottom there. You can’t fault me – I mean, who expected Lehman to disappear? That clearly impacted the price of this house! But this time, I am absolutely sure that the bottom has been reached. That now is the perfect time to buy.

I mean… seriously… can this house get any lower than $275,000?

Comments (83) -- Posted by: burbed @ 5:58 am

September 10, 2009

The best, most important, Redwood City house ever

41 BOTANY Ct, Redwood City, CA 94062 | MLS# 80941626
41 BOTANY Ct Redwood City, CA 94062
Price: $1,899,995

41
Beds: 4
Baths: 2.5
Sq. Ft.: 4,420
$/Sq. Ft.: $430
Lot Size: 0.28 Acres
Property Type: Detached Single Family
Style: Traditional
Stories: 2
View: Bay, Neighborhood, City Lights
Year Built: 1988
Community: Cordilleras Heights
County: San Mateo
MLS#: 80941626
Source: MLSListings
Status: Active
On Redfin: 3 days
Gorgeous recently remodeled home. Incredible partial Bay view. Immaculate condition, soaring high ceilings, gourmet chef’s kitchen w/ stainless steel appliances, large master suite w/ stunning bath, elegant extra bonus rm. for entertainment ctr. etc. , custom designed with exquisite finishes throughout, large three car garage w/ extra storage. Lush gardens and yard perfect for family entertaining.

Thanks to Burbed reader RinkRat for sending this in. This is what he had to say:

Check out the realtard’s description on this one.    There must have been an adjective sale at the Dollar Tree, because he used all the good ones in one paragraph…How exquisite!

Well… sort of. Here are some other terms that I usually see in Bay Area listings that I think are noticably missing here:

  1. Rental income for garage.
  2. Instant equity waiting for you to be unlocked.
  3. Great for first time buyers (who like to buy million dollar homes)
  4. Great schools (compared to ones in Somalia)
  5. Environmentally friendly.

Can you think of other adjectives that this house is missing?

Comments (20) -- Posted by: burbed @ 5:51 am

are old software engineers unhireable

I’m thinking of a new feature…. search result Thursdays!

Recently someone found this site by doing a search for “are old software engineers unhireable”

Wow. Tough question!

My answer: Yes.

Why? Because old engineers don’t need to work. They’ve either become rich via stock options, or they’ve become rich from equity in their house, or both!

So Yes – old engineers are unhireable. You can’t find them!

Comments (13) -- Posted by: burbed @ 4:13 am