December 1, 2009

Hordes of buyers waiting on the sidelines….

326 CASTILE Way, South San Francisco, CA 94080 | MLS# 80950128
$1,250,000
326 CASTILE Way South San Francisco, CA 94080

326
Beds: 4
Baths: 3
Sq. Ft.: –
Lot Size: 0.28 Acres
Property Type: Detached Single Family
Style: Contemporary
Stories: 2
View: Green Belt
Year Built: 1999
Community: South San Francisco (Industrial)
County: San Mateo
MLS#: 80950128
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 25 days
Used to be model home, master bedroom was expanded. It used to be a 6 bedrooms house. now it has a big Master Bedroom and a loft. Do not crash Appointment only!!!

Thanks to Burbed reader sonarrat for this find.

As we all know, Realtors know the most about the market, and the hordes of buyers waiting on the sidelines. That’s why this Realtor had to explicitly call out “Do not crash” because otherwise desperate buyers, waiting to buy anything, will storm the house and snap it up.

Really, these buyers should just buy without looking inside, after all, that’s why there are no interior pictures!

It’s fascinating how this 6 bedroom house was expanded to be a 4 bedroom house. But let’s face it, it used to be a model (back in 1999 I guess) so it is still hot hot hot.

And… it comes with on a .28 acre lot. Let’s take a look!

326a

Oh yeah. That’s quite the lot. I love especially how it tapers off at the very end. Are you thinking what I’m thinking? Yeah… this would make a great miniature golf course! That’s where you’d put the windmill!

Comments (32) -- Posted by: burbed @ 5:37 am

32 Responses to “Hordes of buyers waiting on the sidelines….”

  1. Herve Estater Says:

    Walking distance to First Samoan Methodist Church, Alta Vista Church of Christ, Fiji Jamaat Ui Islam of America, Primera Iglesia Bautista SF and St Elizabeth’s Episcopal Church. OMG!

  2. nomadic Says:

    At least now we know where the “foreigners with cash on the sidelines” are coming from.

  3. Real Estater Says:

    Lots of people are jumping in from the sidelines. I just went on mlslistings.com, and saw that 22 homes in Palo Alto are currently pending!

  4. anon Says:

    Wow you must be stupid.

    They’ve been pending for weeks and they will continue to be pending.

    The reason is that loans are incredibly difficult to come by.

  5. Real Estater Says:

    Right, all those houses are pending because nobody really want to buy. Those who jump in are doing so knowing they’ll never get the loan. Anon’s personal experience applies to everyone out there!

  6. Real Estater Says:

    Great news on top of great news everyone. Property taxes are going down for most people this year, and interest rates are at record low. No wonder so many people are pulling the trigger now. This is the hottest selling December I’ve seen in a long time.

  7. Pralay Says:

    I just went on mlslistings.com, and saw that 22 homes in Palo Alto are currently pending!
    —-

    Heard that story before (as mentioned here). Any new news?

  8. Pralay Says:

    Great news on top of great news everyone. Property taxes are going down for most people this year, and interest rates are at record low. No wonder so many people are pulling the trigger now.
    —–

    The article says:

    For the owner of a home assessed at $400,000, that would amount to a savings of about $11 in next year’s tax bills. Toss in the fact that rates usually rise by at least 2 percent a year, and the savings works out to nearly $100 on a $4,400 tax bill.

    Thanks for the laugh, RealEstater. I definitely can see why someone would want to “pull trigger”. Afterall RBA people are smart people. Saving $100 per year means eating one extra MacDonald burger per month.

  9. anon Says:

    Woo hoo! $100 bucks!

    That’s a lot of money if you’re real estater.

  10. DreamT Says:

    “No wonder so many people are pulling the trigger now”

    Now’s a great time to play russian roulette!

  11. Pralay Says:

    This is the hottest selling December I’ve seen in a long time.
    —–

    Global warming is definitely taking toll on Palo Altan. Otherwise why would these “smart people think December is summer month and list their homes in market? Don’t they celebrate Holidays in their homes? Or may be they do in RBA way – Open House Holiday.

    Anyway, just to verify the impact of global warming, let’s check November inventory of Palo Alto:
    2004: 36
    2005: 64
    2006: 46
    2007: 33
    2008: 89
    Now: 77+ (excluding under contract)

    2008 and 2009 November/December definitely looks different.

    Now, let’s check the inventory level in some REAL summer months – August
    2004: 63
    2005: 52
    2006: 68
    2007: 31
    2008: 57
    2009: 105

    Looks like 2009 November/December is competing with “hottest” summer months. That’s definitely hot.

  12. Pralay Says:

    That’s a lot of money if you’re real estater.
    —–

    Of course, for someone who needs to work fulltime to earn frequent flyer miles.

  13. nomadic Says:

    #9 – you have to spend money to save money… duh!

    ;-)

  14. Real Estater Says:

    Here’s what the article really says:

    For the owner of a home assessed at $400,000, that would amount to a savings of about $11 in next year’s tax bills. Toss in the fact that rates usually rise by at least 2 percent a year, and the savings works out to nearly $100 on a $4,400 tax bill.

    People with million dollar homes will have at least 3 times the $4,400 tax bill. That’s savings of $300+ dollars, enough to water your lawn for several months.

  15. zanon Says:

    RE: $300 would water my lawn for 1 month because it so massive and lush and green. Of course, I rent so I don’t do it myself. Woot!

  16. nomadic Says:

    woohoo! Save $300 – that’ll cover about 5-10% of one house payment…

  17. Pralay Says:

    People with million dollar homes will have at least 3 times the $4,400 tax bill. That’s savings of $300+ dollars, enough to water your lawn for several months.
    —–

    See, more you spend, more you save.

  18. anon Says:

    Indeed. If one were able to borrow an infinite amount of money, one would be able to save an infinite amount of money. The closer you get to infinite debt, the better off you are!

  19. Real Estater Says:

    Recovery gaining momentum

    It’s been quite a good run in stocks. Lots of people will have money to go Christmas shopping this year, which should further drive up the economic momentum.

  20. Real Estater Says:

    Recently I’ve been in charge of hiring around a dozen people, and it hasn’t been easy to find qualified candidates. It makes me wonder if a large percentage of the unemployed are lower performers. If so, the current unemployment rate actually makes us more competitive as a nation.

  21. DreamT Says:

    More likely your HR department is inept at reaching out qualified candidates or sorting out incoming leads. Another “more likely” case: the job description is not attuned to the qualified candidates’ tastes. I have heard other hiring managers make the same complain and I found find out with a few pointed questions that they simply didn’t know how to do their job.

  22. zanon Says:

    In RE’s world, people sitting around on the dole INCREASES competitiveness. They could, of course, be doing something they were competent at, but no, RE has them sucking wind.

    In my experience, competent people are hard to find in all economies. RE’s connection to competence seems to be more… tenuous.

  23. mike Says:

    > I have heard other hiring managers make the same complain and I found find out with a few pointed questions that
    > they simply didn’t know how to do their job.

    This is the most likely explanation.

  24. Real Estater Says:

    Most likely neither of you have ever done any hiring.

  25. anon Says:

    “They could, of course, be doing something they were competent at, but no, RE has them sucking wind.”

    zanon this is called displacement. re is good for nothing and therefore assumes the same of others.

  26. DreamT Says:

    #24 – loll :) Introducing Real Hiring!

  27. Real Estater Says:

    I have to admit I hate having to do hiring. I didn’t go to school to be a HR person, but it became part of my job. The screening process can be time consuming even with the recruiter doing a first cut. At the end of the day I have to talk to the candidate and give the final approval.

  28. DreamT Says:

    At the end of the day, hiring and reviews are much more fun than firing (and can be fun for all involved not just yourself). If you hate that aspect of managing, it’s probably best stick to the so-called “worker bee” status…

  29. Real Estater Says:

    Oh man. Reviews is another thing I hate.

  30. Alex Says:

    Of course you hate reviews. I can’t imagine how brutal it must feel to have your boss tell you straight to your face that you suck.

  31. nomadic Says:

    c’mon, does anyone like writing reviews? I have never met a manager who does. Does that mean they all suck? (I don’t think so.)

  32. Pralay Says:

    I didn’t go to school to be a HR person, but it became part of my job.
    —–

    Did you go to school, RealEstater? Really? I am not even trying to dig your past comments. The kind of logical and analytical ability you demonstrated in posts #3, #6, #14, #19 and #20, it looks like you are a high-school dropout.

    Or may be it is similar to your spelling mistake problem. You did not learn how to spell because you went to public school. Similar way, your logical and analytical abilities are underdeveloped due to your bad college degree.


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