Buy a house, get a house free in Mountain View
175 CHURCH St Mountain View, CA 94041$1,050,000
Beds: 4 Baths: 2 Sq. Ft.: 864 $/Sq. Ft.: $1,215 Lot Size: 7,500 Sq. Ft. Property Type: Detached Single Family Stories: 1 View: Neighborhood Year Built: 1928 Community: Downtown County: Santa Clara MLS#: 80956104 Source: MLSListings Status: Active On Redfin: 21 days * Lots of upgrade charming old world bungalow in prime old Mountain View. * Large lot w/ rear set non-congorming 1/1 cottage. * Total of 1626 sqft of living area. * Front house is immaculate.
It’s buy one get one free time in Mountain View!
At first glance, it would look ridiculous to spend $1,215 per square foot in Mountain View this year (next year it might be reasonable), but the fact is that you’re actually get 2 houses. In reality, you’re just paying $646 per square foot. Far more reasonable for two old world cottages! And the front one is in great shape while the rear one is… uh… non-congorming.
But wait, there’s even more!
Wow, just look at this garage! So really, you’re getting 3 buildings! Just think about how much you can rent the second house and the garage out for. The garage can go to the next Google/Facebook startup, and so you’ll be rich from Friends and Family shares. The second house can go to the CEO of that startup, so you can get cash in the meantime.
Win-win-win! Cha-ching!
This is going to be your best investment ever!
January 15th, 2010 at 6:12 am
Look at all the garbage cans- there must be five families living there.
January 15th, 2010 at 6:26 am
Wow! Two for the price of five!
January 15th, 2010 at 6:39 am
Can somebody explain prices in Mountain View to me? I don’t get the San Leandro charm at Los Gatos prices.
January 15th, 2010 at 7:36 am
>>Can somebody explain prices in Mountain View to me?
The answer is one word: Google.
January 15th, 2010 at 8:18 am
So, Google employees are retards?
January 15th, 2010 at 8:44 am
You guys are pretty funny when you wake up early.
January 15th, 2010 at 10:09 am
Quick reality check. Got back from a business trip yesterday. Was talking to a guy on the plane. He says he’s been shopping for a house in Silicon Valley since last summer, got outbid many times, sometimes by cash offers.
January 15th, 2010 at 10:33 am
was he crying too?
January 15th, 2010 at 10:56 am
Quick Reality Check:
http://www.doctorhousingbubble.com/california-housing-forecast-for-2010-5-reasons-why-you-shouldnt-buy-a-home-in-california-in-2010-22-percent-unemployment-and-underemployment-home-ownedership-california-budget/
January 15th, 2010 at 10:56 am
Look at this junk. RE talks about cash offers. If you have 1.05 million in hand, would you buy this turd, live in squalor, and go to work 60 hours a week…or go somewhere else, pay 300k for something far nicer, and have 705k fun money or for early retirement.
Most reasonable people would simply not live in this house even if it were free.
January 15th, 2010 at 11:22 am
reality check: most people don’t have a million dollars lying around. If they do, they’re not going to spend it on a house like this.
January 15th, 2010 at 12:16 pm
anon,
You don’t need a million dollars lying around to buy a house. That’s why the mortgage industry exists…duh.
January 15th, 2010 at 12:18 pm
Perhaps the dolt who pays 1.05 million for this house should be required to pay cash.
January 15th, 2010 at 12:19 pm
The value of the house in this thread is in the land. 7500 sq. ft. lot in downtown area is highly desirable.
January 15th, 2010 at 12:22 pm
And keep in mind there is nothing else available around the area of this house.
January 15th, 2010 at 1:13 pm
RE: One of your posts alluded to someone being upset at having been outbid by folks with cash offers. I was simply illustrating what someone with $1MM cash could do as a much saner alternative to living in this dung heap.
As for a mortgage on this place, what would someone pay 7 grand a month to live here when they could rent something nicer for probably half that, and not have to deal with 50 years of deferred maintenance.
January 15th, 2010 at 2:25 pm
now now children – let’s not squabble. a million cash, a million mortgage. what’s important is that whoever “buys” this is an idiot.
January 15th, 2010 at 3:00 pm
You’re right, anon. It’s not like a million dollars is enough to be “real” money anyway. Sheesh.
January 15th, 2010 at 4:30 pm
asdf: 700K will last you about ten years; maybe twelve if you move to Dirt Farm, Nebraska and carve sticks for your entertainment.
January 15th, 2010 at 4:42 pm
“You’re right, anon. It’s not like a million dollars is enough to be “real” money anyway. Sheesh.”
seriously. Some people. Thinking they should get something that is not trash for only a million dollars!
January 15th, 2010 at 5:41 pm
“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″
http://articles.sfgate.com/2009-07-16/business/17217298_1_world-wealth-report-millionaires-bay-area
Also, if you look at the income distribution of the Bay Area, it peaks at the 100k – 150k level with 18% of the population at that range. Then it dips to 7% at the 150k to 200k range with another 7% at 200k or more. So that’s 32% of households earning 100k or more. Moreover, many wealthy immigrants arrive with boat loads of money and pay cash for their houses. I’d imagine many of the means to do so, also buy multiple properties. Finally, the Bay Area still has lots of high paying jobs left, and it seems the lower paying jobs are the ones that are disappearing while the higher paying jobs aren’t.
This is just speculation of why many areas of the Bay Area is still extremely overpriced. But keep in mind that many other outer areas of the Bay Area have crashed quite hard, areas such as San Leandro down to Milpitas, parts of the South Bay, and the outer East Bay. There are just some highly desirable areas in the Bay Area, there are still many with the means to afford those areas.
January 15th, 2010 at 5:43 pm
Definitely a piece of sh*t. I can get an apartment this size (864 sq ft) in downtown Palo Alto for $2000.
January 15th, 2010 at 6:35 pm
> I can get an apartment this size (864 sq ft) in downtown Palo Alto for $2000.
That’s 525 times cheaper! Go for it!
January 15th, 2010 at 6:37 pm
> was he crying too?
Probably laughing while Real Estater was drawing on his arm and tickling him. What a nice bromance!
January 15th, 2010 at 8:04 pm
What a lovely piece of shit for only a mil! I can smell it rotting from here!
January 15th, 2010 at 8:38 pm
LOL Herve, I was talking about renting.
January 15th, 2010 at 9:48 pm
A bunch of amateur talk here. You should never judge a property purely based on its appearance. If this house were in Palo Alto, there would be a line at least a block long to buy it at this bargain price.
January 15th, 2010 at 11:06 pm
So buy this little gem, Mr. Investor.
January 16th, 2010 at 1:41 pm
On the reality check (#7), that’s totally been my experience. Anybody who does not think there are a lot of people shopping have not been shopping.
January 16th, 2010 at 2:10 pm
bored at work, real estater?
January 16th, 2010 at 5:50 pm
On the reality check (#7), that’s totally been my experience. Anybody who does not think there are a lot of people shopping have not been shopping.
If the lemmings wish to catch falling knives, I say let them.
January 18th, 2010 at 4:41 pm
Moreover, many wealthy immigrants arrive with boat loads of money and pay cash for their houses. I’d imagine many of the means to do so, also buy multiple properties. Finally, the Bay Area still has lots of high paying jobs left, and it seems the lower paying jobs are the ones that are disappearing while the higher paying jobs aren’t.
This is just speculation of why many areas of the Bay Area is still extremely overpriced. Bay Area, there are still many with the means to afford those areas.
Ahhh yes… those supposed “foreigners” with craploads of cash able to swoop in and buy our dirt-cheap land. Honestly I’ve been hearing about these mysterious foreigners and have yet to see this phenomena you mention.
As far as high paying jobs, well there might be some high paying jobs ( by national standards) but 100k in the Bay Area just doesn’t mean all the much. You need more like 150-200k or more to “get in” to the choicer areas of the BA. Thus the statistic showing 30% of households making 100k is meaningless. We make well more then that and there is simply no way we could buy in the “RBA”. Even buying at the typically more modest 500k entry level in the East Bay would mean perilous consequences come either one of us lost our jobs. Of course I realize many do exactly that and swallow the risk anyway.
And yes- while factory workers ( NUMMI), teachers, shoe salesmen, and so on are leaving, the higher paying jobs you speak of- primarily in tech- are definitely not anywhere close to being secure. Families want security and when you remove that security they will make alternate financial choices because they cannot as easily count on their incomes to pay their mortgage.
January 18th, 2010 at 8:05 pm
> We make well more then that and there is simply no way we could buy in the “RBA”. Even buying at the typically more modest 500k entry level in the East Bay would mean perilous consequences come either one of us lost our jobs.
Don’t be ridiculous. I think you said you and your Wife make $200K or more. It’s more than enough to buy a $500K house and should one of you be laid off, you could still easily afford the mortgage payment. Shoo troll, shoo!
January 19th, 2010 at 9:53 pm
Just had a gathering of sorts with some old friends over the long weekend. Basically everybody made boat loads of money through owning real estate. Some fixed up and flipped; some played with borrowed money; others simply moved up. Everybody owned at least one million+ home; some owned multiple. Everyone is talking about buying more properties.
January 19th, 2010 at 10:02 pm
you have friends?
January 19th, 2010 at 10:29 pm
And after you were done with Monopoly, did you play Game of Life?
January 20th, 2010 at 3:36 pm
“Just had a gathering of sorts with some old friends over the long weekend. Basically everybody made boat loads of money through owning real estate. Some fixed up and flipped; some played with borrowed money; others simply moved up.”
No doubt your realtor friends, who all dabble in real estate, think that they have made money. In fact, you will find that they have only made debt.
“Everyone is talking about buying more properties.”
That’s fantastic. Good luck bidding – the competition is stiff out there!
January 20th, 2010 at 5:53 pm
Yep, stiff competition indeed. Explains why RE apparently continues to get outbid searching for his elusive “investment” property that he’s been looking for since last year – you know, when the market hit bottom clearing us for take-off.
January 27th, 2010 at 1:04 pm
I live two blocks from this property. Someone is taking liberties (cough RE) calling it the downtown area. You’re two down from Calderon Street. Throw in tear down costs and hiring an architect, you really could buy a nice modern modern home in Palo Alto.
Oh wait, here’s a 8,000 square foot lot with home in PA for less than a million.
http://www.redfin.com/CA/Palo-Alto/3499-Greer-Rd-94303/home/1482581
Life with comps must suck, Real Estater…..
I think the important part of RE boast about “old” friends is their age. Easy enough to squawk about real estate when you bought before the bubble (isn’t that why the bubble was a bubble?). Not quite sure for the younger set of us out here, how we’re suppose to do this comfortably unless our options really hit (which is why “old” googlers are buying and the newer ones aren’t).
January 31st, 2010 at 10:25 pm
#8: was he crying too?
—
Of course he was crying. RealEstater meets all the unfortunate souls in plane. He meets Austin man who was thrown into hellhole like Austin. Then he meets Silicon Valley man who loses bid everytime.
January 31st, 2010 at 11:27 pm
DumbLaw says,
>>Oh wait, here’s a 8,000 square foot lot with home in PA for less than a million.
You and a hundred other desperate buyers saw that. That’s why the house is gone after one showing. After I saw the mob at the Open House, I did not even bother submitting a bid. We’re talking about South Palo Alto Eichler home steps away from industrial area.
January 31st, 2010 at 11:43 pm
After I saw the mob at the Open House, I did not even bother submitting a bid.
—–
Heard similar story in past when a PA property got sold for $980 even though there were 8 cash offers over $1M, as claimed by FakeEstater.
Internet, Google and availability of public information in internet must have made life hard for people like FakeEstater who operate in smokescreen.
January 31st, 2010 at 11:59 pm
Pralay,
Would you like to bet this home will sell for over $1M?
All,
Watch him try to weasel out of this one again. You can count on it!
February 1st, 2010 at 12:15 am
You mean you are truthful and factual this time? That’s a news!
March 7th, 2010 at 5:25 pm
I’d rather be educated than old and bitter (and illogical). What a joke.