April 28, 2010

Condo living in Santa Clara for under a million

Thanks to Burbed reader DreamT for this guest post!
Beds: 3
Baths: 3
Sq. Ft.: 2,157
$/Sq. Ft.: $449
Lot Size: -
Property Type: Townhouse
Style: Contemporary, Mediterranean
Stories: 1-3 (Low Rise)
View: Neighborhood
Year Built: 2010
Community: Santa Clara
County: Santa Clara
MLS#: 81011793
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 38 days
Top Cupertino Schools, these rare find brand new 12 Mediterranean style town homes and 2 single family homes located in the heart of Silicon Valley. Low utility cost, quiet neighborhood, close to shopping and commute. All the homes are built w/ top of line material and workmanship. Hardwood & lush Berber carpet, gourmet kitchen w/ granite counter, beautiful balconies, durable concrete tile roof, A/C .

You no longer need a million dollars fair and square to reside in Santa Clara! For the meager sum of $969,000, acquire a townhome within spitting distance of Gorgeous Freeway 280, and admire hapless commuters from the beautiful balconies while sipping nearby Barefoot Café’s confections.

Really, look no further – you won’t find anything more Mediterranean in the heart of the Silicon Valley! The Safeway across Stevens Creek rivals Monaco’s best resorts, the nearby flat-top Eichler wannabes rival Old Nice for age, and you have to see the Berber carpetting – I was told it contains real Berber blood as flame-retardant, since abestos is now out of style.

You will also humiliate the neighborhood’s previously priciest sale, a jolly mustard-colored 1955 3/2 rancher that sold in 2006 for $950k. Gosh, you will actually single-handedly double all of the neighborhood’s house values! What are you waiting for? You be da king! (on a Berber carpet)

Lest I forget, your kids will be eligible to attend Cupertino School, but with such top of the line material and workmanship, not to mention Berber carpets, this is almost an afterthought.

Maybe you should offer above $1M after all. Pride of ownership should not come cheap.

Comments (47) -- Posted by: burbed @ 5:13 am

47 Responses to “Condo living in Santa Clara for under a million”

  1. SEA Says:

    It’s pending today. I bet it took the owners the 38 days to sort out all the above-$1M offers.

  2. Petsmart groomer Says:

    No worries, 63 Cabot ($825K) and 29 Cabot ($969K) are still available for foreigners with suitcases full of cash.

    But seriously, would someone get more respect after buying a $969K townhouse in 95051?

  3. ES Says:

    I read an article about how the extremely wealthy try to out-give each other to various charitable organizations as a display of their wealth. Clearly, what’s going on here is someone who hit Silicon Valley IPO jackpot is bailing out a loan owner who made a horrible decision in 2005, trying to show off how charitable he is to the others at the country club.

  4. SEA Says:

    Imagine how much this place would be worth if it were in a proper RBA zip code!

  5. DreamT Says:

    #4 – Alas, we’ll never know: this property has a 2-car garage, which as our resident expert explained is a hindrance in the RBA. Proper, attractive RBA houses only have room for a 1-car garage…

  6. madhaus Says:

    ES, this is going on right now with Cupertino’s “The Future Is Now” campaign. It’s a Silicon Valley potlatch.

    I am trying to think of the advantage of living right off Stevens Creek Blvd, Lawrence Expressway, and I-280 (other than Barefoot Coffee). Some of the nearby SFHs look like they wandered over to Bennett from East Palo Alto, too.

    And while only 63 and 27 are listed for sale, Property Shark says not a one of them has changed title since October 27th, 2005. Yup. All 12 of them. And given how long it took to build this project out, are you surprised? The fire sprinkler system wasn’t even issued permits until 2008.

    And finally: Top Cupertino schools? Please. These schools are so NonReal Cupertino that the listing agent was too embarrassed to include them on Redfin. No problem, I’m here to help!

    Eisenhower Elementary: 904 (2009 Growth API), 9 out of 10 Greatschools Raing
    Hyde Middle: 877, 9
    Cupertino High: 879, 10

    Sorry. Real Cupertino Schools score over 900 and are ranked 10 out of 10. It could be worse; the elementary school could have been nearby De Vargas, the lowest-scoring elementary in CUSD (866, 7). Hyde is the lowest-scoring middle school in the district, btw.

    Is anyone else wondering why this listing specifically mentions 67 Cabot but describes the entire project? How much are those detached homes selling for, the ones hiding behind the townhouse blocs?

  7. DreamT Says:

    madhaus – Look at the past ten-year trend on API scores, they tell a different story.
    Also how much do condos go by in Funnyvale ’87, and more important are they adorned with Berber carpets?
    As for the nearby shacks, just imagine if they had been moderately well maintained – the condo would then not sell for any less than $2M!!

  8. DreamT Says:

    Incidentally, don’t forget to vote for Barefoot Café

  9. ES Says:

    I live just down the street from Barefoot’s roasting house on Sunol. Most mornings we wake up to the smell of roasting coffee. It’s quite fantastic.

  10. madhaus Says:

    Where is everyone today? Are you all at the Save Cupertino Schools fundraiser at Barefoot Coffee or something? Because if somebody doesn’t save them, this condo is going to be worth $0.1 million.

  11. bob Says:

    In most instances economists refer to condos as “White trash investment”.

  12. DreamT Says:

    bob, what does that mean? Wikipedia says “white trash” means “poor white Southerners,” is that whom you believe is destined to buy this?

  13. SEA Says:

    bob- Could you point us to any economists that refer to condos as “White trash investment?”

  14. Real Estater Says:

    Guess why Bob knows about that term?

  15. nomadic Says:

    Hey, DreamT, is this Mediterranean mecca replete with palm trees?

  16. DreamT Says:

    “How much are those detached homes selling for, the ones hiding behind the townhouse blocs?”

    check the website: http://www.cabothome.com/price.pdf

    That’s right: $1,190,000

  17. DreamT Says:

    #15 – They seem to have a couple from the website home page http://www.cabothome.com/. Not sure how replete it is, I haven’t visited… :)

  18. nomadic Says:

    That is so bizarre – why would anyone want to live in a SFH surrounded by condos?

  19. SEA Says:

    “That is so bizarre – why would anyone want to live in a SFH surrounded by condos?”

    Prop 13, maybe?

  20. Petsmart groomer Says:

    > http://www.cabothome.com

    Awesome music!

    They’re townhouses by the way, not condos.

  21. nomadic Says:

    They’re townhouses by the way, not condos.

    Same thing, more stairs.

  22. DreamT Says:

    #18 – They managed to sell out The Enclave at Pruneridge // Lawrence, where monster SFRs are crammed together on a postage stamp lot. So there are buyers for this…

  23. DreamT Says:

    #20 – Yes townhouses, but condo living! :P

  24. nomadic Says:

    gawd, I feel like a number. I’m not a number.

  25. DreamT Says:

    nomadic, different generation I suppose :P

  26. nomadic Says:

    lol – Seger is kind of a hometown dude for me so he had a longer shelf life.

  27. Real Estater Says:

    “Under a million” would be a selling point in Palo Alto, but for a Santa Clara town home? That’s Gables End stupid.

    Like I’ve said before, high density housing is the worst kind of property to buy. People who buy these have no clue about real estate.

  28. DreamT Says:

    but obviously the people who build these and manage to sell them out do have a clue, wouldn’t you think Mr. Almost-Investor?

  29. madhaus Says:

    One thing I couldn’t find out is how much land those SFHs in the midst of Cabot’s condo living, sideways tenement lifestyle sit upon. After all, the value is in the land!

  30. Real Estater Says:

    >>but obviously the people who build these and manage to sell them out do have a clue

    Obviously the business model is smart people selling goods to dumb people.

  31. DreamT Says:

    The numbers don’t add up, there are supposed to be 12 units + 2 SFR, so unless two units are sitting under two others (which would disqualify them as townhomes), the two SFRs are missing somehow…

  32. madhaus Says:

    >>but obviously the people who build these and manage to sell them out do have a clue

    Obviously the business model is smart people selling goods to dumb people.

    As opposed to Palo Alto SFHs, dumb people selling obscenely overprice goods to supposedly smart people. Ya think?

  33. nomadic Says:

    hmm, I count 14 in your price.pdf link.

  34. DreamT Says:

    madhaus – I thought that was remarkable. RealEstater managed to express his contempt about every single condo or townhome owner out there, in just one line. Top credibility!

  35. Petsmart groomer Says:

    > The numbers don’t add up […]

    They do. I count 12 townhouses and 2 SFRs on http://www.cabothome.com/price.pdf. Each “Residence A” on http://www.cabothome.com/plans is actually made of 2 townhouses.

  36. Petsmart groomer Says:

    > Obviously the business model is smart people selling goods to dumb people.

    You bet.

  37. madhaus Says:

    madhaus – I thought that was remarkable. RealEstater managed to express his contempt about every single condo or townhome owner out there, in just one line. Top credibility!

    Perhaps, DreamT, he’s looking for more third-party objects of disdain after being out-contempted last night. I’d stop, but everyone else seems to enjoy seeing him drubbed.

  38. DreamT Says:

    Yes, I stand corrected, on http://www.cabothome.com/plans/ the two residence A blend in somehow.
    Possibly the two SFRs only own the land underneath the house as opposed to sharing a % of the entire lot. So who’s game to pester Vivian at (408) 861-8877 ?

  39. madhaus Says:

    Possibly the two SFRs only own the land underneath the house as opposed to sharing a % of the entire lot. So who’s game to pester Vivian at (408) 861-8877 ?

    You are. It’s your article today, write your own follow-up.

    In completely unrelated news, one of my friends, who has been a Renter (but not the Angry variety) his entire adult life, just went into contract on an actual house. I’m afraid to make comments about him being a loanowner, as this place is nowhere near the RBA. Clearly, he’s Priced Out Forever.

  40. DreamT Says:

    It’s merely a * guest post * :P I’m done being the guest for today.

  41. madhaus Says:

    The difference between being a blog owner and a guest poster is when your lovingly crafted article is full of formatting errors, there isn’t a damned thing you can do about it.

    You’re done being the guest? Okay. You can be the host.

    Groomer, #36, nicely done.

  42. Real Estater Says:

    >>> The numbers don’t add up […]

    LOL. Math is hard!

  43. DreamT Says:

    “Okay. You can be the host.”
    How would I do that?… Hacking is hard!

  44. madhaus Says:

    >>> The numbers don’t add up […]

    LOL. Math is hard!

    You would know.

  45. madhaus Says:

    This is a test of teh emergency anti-sp4m filter, because my last post went right to the bit bucket. Grrrrr.

  46. Real Pride of Ownership in Santa Clara [Burbed.com] Says:

    […] housing development over the back fence, Burbed has already paid them a couple of visits, both to a townhouse and the (genius!) detached single family house tucked into a high density complex.  That means […]

  47. Petsmart groomer Says:

    29 Cabot is back on the market for $859,000 (or $9k more than what it sold for 2 years ago). It already suffered a $40k price reduction.


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