December 31, 2009

What are your Real Bay Area house price predictions for 2010?

Ok readers, it’s that time of the year – what are your predictions for some of the star cities of the Real Bay Area?

For reference, here are the current stats for some selected ones:

Palo Alto 2009 Market Trends
pa

Mountain View Market Trends
mv

Sunnyvale Market Trends
sun

Cupertino Market Trends
Cupe

Atherton Market Trends
ath

Ok, now these are just a few of Burbed’s favorite cities, but you can feel free to pick your own cities to make predictions foru.

Burbed is going to predict that… this time in 2010, both the list and sold price will be 10% higher than they are in these pictures.

2010 is going to be big. As we all know, real estate is on a 5 year cycle. The downturn started 5 years ago and so of course now is the time for it to soar. (BTW, this is actually a real quote I sort of heard. Really? The downturn started in 2004/2005? Hm.)

Also, it’s clear that the economy is roaring back to life. Look at the stock market. Cha-ching! Everyone has money to buy tons of houses. And where do you buy tons of houses? In the Bay Area – of course. It’s the best investment known to man… in history… ever!

Hurray 2010!

Comments (37) -- Posted by: burbed @ 5:00 am






December 30, 2009

Vintage Charm with a Vintage Price in San Jose

1603 Shortridge Ave, San Jose, CA

$300,000

1603

Status: Pending Release
Bedroom: 2
Bathroom: 1

Year Built: 1920
Lot Size: 3840
Square Footage: 1080
List Date: 11/23/2009
Garage Spaces: 2
MLS#: 80954766

COME SEE WHAT A GREAT BUY THIS CHARMING BUNGALOW IS!REGULAR SALE-NOT A S/SALE OR REO!LARGE CORNER LOT IN LITTLE PORTUGAL W/2 CAR GARAGE ATTACHED BY A COVERED PATIO*CHARMING COUNTRY KITCHEN W/FARMHOUSE SINK & STUNNING DECO TILE COUNTERS W/FULL BACKSPLASH*FRIDGE INCL’D*INTERIOR LAUNDRY ROOM W/WINDOW*SPACIOUS LIVING ROOM W/XMAS TREE WINDOW & FIREPLACE W/MANTLE*VIEW A 19 PHOTO SLIDE SHOW ON MY WEBSITE

Thanks to Burbed reader sonarrat for this find.

Frankly, I don’t see why anyone needs to go to school – you can learn a lot just from real estate listings. For example, did you know that there’s a Little Portugal in San Jose? I certainly didn’t. Heck there’s even a North and South!

And also, who knew that you could have a farm house right next to 101? How quaint! How convenient!

Let’s go look at some of the photos:

1603a

Vintage indeed! Look the appliances! Look at the car! Too bad the car doesn’t come with the house, that’d be a real bonus!

But more importantly, this house is now pending, which goes to show just how HOT HOT HOT the market is. Don’t you wish you had purchased this house?

Comments (9) -- Posted by: burbed @ 5:00 am

December 29, 2009

Troyer the Tireless Realtor

Thanks to Burbed reader Herve for sending this in.

 troyer1

troyer2

You’ve gotta admit, this is pretty… uh… different.

If you were a real estate agent, how would you differentiate and advertise yourself?

Comments (33) -- Posted by: burbed @ 5:00 am

December 28, 2009

New “executive homes” in Fremont

Burbed reader AF had this interesting find.

I have lived behind this development by Regis homes called Cedarbrook in Fremont.

Here is their website URL:

http://www.regishomes.com/cedarbrook/?gclid=CJuU7ZPr754CFQJaagodg0r9Ug

You might note that the first picture you see is over the quarry lakes looking toward the direction the homes are in which is rather deceptive.  I would also focus your attention to banners on the site intro page which indicate “Luxury Homes for today’s value conscious buyers.”  Right, that would make a nice title.

I currently live in a rental home at <redacted> Fremont 94536.  When I moved in to the house earlier this year,  the lot behind my back fence was being graded so we had wonderful sunset views through our large back windows.  Of course that is all over now that they have finished building a number of these two story homes right up to the back fence.  I have included a few photos to give you an idea of how close they are.

aDSC_0091 aDSC_0093 aDSC_0092

There are three aspects of this development that I have found interesting:

1.  Price

a. The original pricing on these homes was in the $795000 to $896000.  It is interesting that Zillow estimates my rental home at a high of $718,000 which was in the mid 700’s when I moved in.

b. The Cedarbrook website used to have their pricing which has now been taken off , now all they say about prices is that they have been reduced by $100,000.

2. Lot Size

a. The lot sizes are really small compared to my neighborhood behind the fence.

b. I found if you do a search on my rental home on Redfin you can actually see the new development lot sizes behind my property.  If you select to see the property details (for my rental) you will be able to see an aerial photo that clearly shows lot size and the construction.

I enjoy your site and work.  I hope you can use this.  Perhaps this is why new home sales are significantly down.

Wow those houses are certainly close to each other. But just think! If your kids want to have a telephone system with their friends next door, the ol’ 2 cans-and-a-string will work just find! And if you can’t afford DSL, you can probably spend your time trying to guess the WEP key of your neighbor’s WiFi.

But in all seriousness, this really goes to show why the Real Bay Area, with its stately eichlers will continue to remain the true trophy houses of the region.

Thanks Burbed reader AF.

Comments (11) -- Posted by: burbed @ 5:00 am

December 27, 2009

Cupertino schools may have 30-1 student-teacher ratio in some grades – San Jose Mercury News

Cupertino schools may cut GATE program, have 30-1 student-teacher ratio in some grades – San Jose Mercury News
The Cupertino Union School District could face cuts as early as next month as the Board of Trustees decides how to close a projected $5 million deficit for the 2010-2011 school year.

The board is scheduled to make long-term cuts Jan. 11, Superintendent Phil Quon announced Tuesday at a school board meeting.

Possible cuts include staff reductions, reducing custodial staff to halftime, eliminating district office classified positions, cutting hours at a teacher resource center and eliminating summer school and the GATE (Gifted and Talented Education) program.

“We have scrutinized every aspect of district operations. We think this represents the best way to get where we need to be,” Quon said.

Cutting classes and increasing the student-teacher ratio to 30-1 in grades 1, 2, and 3 is possible, chief business officer Rick Hausman said.

Thanks to Burbed reader Herve for this find.

Merry Christmas students of Cupertino. Come on, you’d rather be at home playing Metal Warefare 2 anyway. Now, there’s even less of a reason to go to school. Hurray!

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

December 26, 2009

The Silicon Valley Edge: A Habitat for Innovation and Entrepreneurship (Stanford Business Books) (Paperback)

~ Chong-Moon Lee (Editor), William Miller (Editor), Marguerite Hancock (Editor), Henry Rowen (Editor), William F. Miller (Author), Marguerite Gong Hancock (Author), Henry S. Rowen (Author)

image

The editors (all connected with Stanford Universiy) use contributions from 25 authors, business professionals, and academics to trace the unique evolution of Silicon Valley from 1949 to the present. Focusing on the seminal importance of Stanford University, Hewlett-Packard, Fairchild Semiconductor, Xerox PARC, and Apple Computer, they provide an insider’s view of what makes Silicon Valley such a dynamic center of innovation. The essays consider key players and ten crucial features that have molded the region’s explosive growth, revealing the unique circumstances that help Valley organizations, communities, and workers respond to internal and external opportunities and threats. Against this backdrop, we learn of the many challenges Valley residents face today, including a structural shift from hardware to software, a slowdown in employment growth and profits, a declining quality of life, a shortage of skilled workers, and a rapidly expanding digital divide. This solid work is recommended for both academic and larger public libraries.DNorman B. Hutcherson, California State Univ., Bakersfield

All the time, people wonder “Why is Silicon Valley so awesome?” Now, obviously there’s the smart people, the great restaurants, the great night life (nola’s in palo alto?), the great shopping (Santana Row!), and the great abundance of Fry’s. And high housing costs ensuring people work their hardest.

But… there’s more! There’s the innovation. There’s the risk taking. There’s the riches. It’s what keeps attracting people from around to this humble valley (that just happens to be the best in the world). Learn more about the edge here, so you can understand why we’ll never lose it, why others can only dream of having it, and why this will ensure house prices continue to soar.

After you catch up on why Silicon Valley is great, you can help make sure this site continues to be great! Click this link to learn more about donating to this site’s hosting costs!

Comments (3) -- Posted by: burbed @ 5:00 am

December 25, 2009

Who got this stocking stuffer East Palo Alto house?

239 GARDENIA Way, East Palo Alto, CA 94303 | MLS# 80955052
Sale Pending (MLS-listed)
Listed at: $198,000
239 GARDENIA Way East Palo Alto, CA 94303

239
Beds: 3
Baths: 2
Sq. Ft.: 1,570
$/Sq. Ft.: $126
Lot Size: 7,250 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1954
Community: East of U.S. 101
County: San Mateo
MLS#: 80955052
Source: MLSListings
Status: Pending Without Release This listing is in escrow, past inspections and waiting for loan funding. “Without Release” indicates that the current buyer doesn’t need to sell a home to buy the new home.
On Redfin: 25 days
DON’T MISS OUT ON THIS AMAZING OPPORTUNITY TO TURN THIS THREE BEDROOM, TWO BATHROOM HOUSE INTO YOUR VERY OWN HOME! OFFERING SOME HARDWOOD FLOORS, WALL TO WALL CARPETS, A FIREPLACE IN THE LIVING ROOM AND AN ATTACHED TWO CAR GARAGE!

Thanks to Burbed reader Lisa for this find!

Let’s go straight to the photos:

239a

Wow. You know a house is grand when the fireplace has its own room. Now that’s swanky!

The fact this is already pending, and at such a low price, can mean only one thing: someone bought this as a Christmas present over the holidays.

So who is the lucky person to get this amazing gift? Why is it an amazing gift? Why look at the instant equity you’re about to unlock!

239b

That’s right. It sold for $650k not that long ago. That means that you’re looking at $452,000 in instant equity.

Sure you may need do a few repairs… but once its done…. boom! A gift that keeps on giving.

So congrats to the person who found this under their tree this morning. Youa are definitely a winner!

Comments (11) -- Posted by: burbed @ 5:13 am

December 24, 2009

average income in cupertino

It’s search engine Thursday!

Recently, someone found this site by searching for: how do you afford to buy a house in cupertino

Let’s look at some data to see the answer to this question:

Recession has a positive side for for some Cupertino business owners

Business appears to be on the upswing in Cupertino despite a tough economy. According to the city’s economic department, the city attracted more businesses this last fiscal year than in 2007-2008.

The city saw 30 new businesses added, a 35 percent increase over the previous fiscal year. New businesses include Amici’s East Coast Pizzeria, Silicon Valley Surgical Arts, Staples, Fortune Garden restaurant and Marukai market.

Not everyone suffers in a recession, said Kelly Kline, economic development coordinator for the city.

“For some businesses, when the economy suffers, it presents an opportunity to get in the market when they otherwise would have been waiting in the wings,” Kline said.

Kline says she sees the addition of restaurants as a bright spot for the city, given that they typically hire more employees than an average office.

Kline cites a number of reasons why the city is a good investment. The average household income is $161,458, and 65 percent of the residents have a bachelor’s degree or higher. Kline also notes that the city is user-friendly with good freeway access, and other amenities such as the Flint Center.

Sure you have to drive to go from store to store in Cupertino, making it just like Houston, but heck – cars are the future! And just look at that average income! $161,458. And that includes all the Pre-Prop 13ers who probably have an average household income of $30,000. Thus, you’re really competing with people who have an average household income of $300k+.

So… how do afford a house in Cupertino?

Make lots of money. Duh!

Comments (5) -- Posted by: burbed @ 5:44 am

This would’ve been a great stocking stuffer in San Francisco

Sale Pending (MLS-listed)
Listed at: $98,000

Beds: 3
Baths: 2
Sq. Ft.: 1,360
$/Sq. Ft.: $72
Lot Size: -
Property Type: Condominium
View: Water
Year Built: 1981
Community: Hunters Point
County: San Francisco
MLS#: 361540
Source: San Francisco MLS
Status: Contingent This means the sellers have accepted on an offer on the property, but success may still depend on passing a home inspection or the buyer’s financing approval. It may still be possible to tour these properties and submit a backup offer in case the current one falls through.
On Redfin: 95 days
In 2004 this unit had a newer kitchen and carpet and was freshly painted. You can still see the renovations in the kitchen including the tile floors and granite counters. Laundry in unit. However, the unit has suffered wear and tear. Rent is $2,273/month. An investor WILL cash flow. A homebuyer will need to put in the work, but this property can shine. Short sale. Showings limited to 2:00-4:30 p. m. Tues-Fri and by appointment. Recent sales: 120 & 126 Kirkwood, same complex, but sold vacant.

Thanks to Burbed reader Pralay for this find.

At $72 per square foot, this would’ve been the perfect stocking stuffer for someone. Unfortunately, it’s already pending. You snooze, you lose.

It also goes to show how the affordable housing crisis is pretty much over. Sure it’s in Hunters Point, but that just means there’s more growth potential.

So let’s look at some of the work that might be needed:

image

Oh that’s no big deal. Some Tilex will clean that right up.

Just think of the amazing cash flow from this. $2273 a month in rent. This, my friends, was the gift that will definitely keep on giving.

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

December 23, 2009

Who wants a trophy house in Los Altos?

$2,749,000
284 QUINNHILL Rd Los Altos, CA 94024

284 

Beds: 4
Baths: 3.5
Sq. Ft.: 2,673
$/Sq. Ft.: $1,028
Lot Size: 0.32 Acres
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
View: Neighborhood
Year Built: 1950
Community: South of El Monte
County: Santa Clara
MLS#: 80951242
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 55 days
THE INFUSION OF A MASTERFUL EXPANSION AND REMODEL HAS CREATED THIS STUNNING CONTEMPORARY RESIDENCE. IMPLEMENTATION OF CLEAN AND POLISHED MATERIALS AND EXQUISITE WOODWORK BLENDS BEAUTIFULLY WITH THE TRANQUILITY OF THE PARK-LIKE BACKYARD. INCOMPARABLE PRESENTATION IN THE EXTRAORDINARY KITCHEN. LAVISH MASTER BEDROOM SUITE WITH SPA WORTHY BATHROOM. THIS TROPHY HOME IS CUSTOMIZED TO PERFECTION.

Thanks to Burbed reader <redacted> for this find.

Let’s face it, all of us here in Silicon Valley are here for one reason: to get the trophies. Whether it be a TechCrunch Crunchies or an IPO with a pop, Silicon Valley-ers are an ambitious type.

Thus, this is the perfect house. With polished materials, this is definitely a trophy house.

Just think about how you will be able to come home at night, after a hard day of Ruby on Rails or M&A’ing, and be able to relax in your spa. The whole time thinking: “Wow, I have it made.”

On the contrary, if you don’t have this home, do you have it made? What does it say about you? Pretty scary to think about isn’t it.

It’s probably best you just buy it now to be on the safe side. Better have a trophy, than no trophies at all!

Comments (8) -- Posted by: burbed @ 5:00 am