Needs Some TLC… and Equity
For Sale (MLS-listed)
$339,900
3238 AGATE Dr Santa Clara, CA 95051
Beds: 3 Baths: 1 Sq. Ft.: 1,040 $/Sq. Ft.: $327 Lot Size: 6,500 Sq. Ft. Property Type: Detached Single Family Stories: 1 Year Built: 1955 Community: Santa Clara County: Santa Clara MLS#: 81014108 Source: MLSListings Status: Active This listing is for sale and the sellers are accepting offers. On Redfin: 39 days CONTRACTOR SPECIAL!! CUTE SANTA CLARA HOME. CLOSE TO SCHOOLS AND LAWRENCE EXPRESSWAY, NEEDS SOME TLC. MUST SEE!
The above description does not do justice to this property. If a home is a contractor’s special, why do you have to see it? Fire up the bulldozer and plonk down a McMansion! But that only works in the RBA. If tthe whole street is full of crapboxes, there’s not much point in putting lipstick on a pig.
And here’s what the place looked like when the GoogleCam drove by. Do you think the agent took one look and said “Mr. Seller, tear down that fence!”
There was a time when this property sold for more than $339,900, and I only say this because nobody wanted to buy it for $359,900 a month ago. Even burbed.com noticed when this lovely home went for… $600,000??? Just about four years ago. My, how time flies! Now the bagholders passed the bag to the mortgage company, who sold it for $360,000 in early February — to other banks.
But no matter how quickly Silicon Valley’s economy comes back, this place will never be in the RBA. Look what’s it’s conveniently located next to.
Yes! CalTrain right across the street! And someone bought this place for $600,000. It’s the people who sold it in 2006 who were geniuses. They paid $24,000 for it in 1971.
And here’s what burbed had to say about this and all the other overpriced crap on the market:
Ah… to have bought a place in California before 1980. Better than working.
Nothing like the ol’ generational transfer of income. Massive mortgages, peak oil, falling incomes, implosion of social security – interesting times ahead!
Nobody could have predicted!
[Thanks to Madhaus for this guest post.]
May 18th, 2010 at 7:41 am
“CONTRACTOR SPECIAL!! … NEEDS SOME TLC. MUST SEE!”
WTF! What ‘contractor special’ is also a ‘must see?’
“Nothing like the ol’ generational transfer of income. Massive mortgages, peak oil, falling incomes, implosion of social security – interesting times ahead!”
When will Silicon Valley be America’s next rust belt?
May 18th, 2010 at 9:14 am
damn – it’s been taken off the market.
May 18th, 2010 at 9:48 am
damn – it’s been taken off the market.
I thought you were buying investment property in Gilroy, nomadic. I didn’t realize you were diversifying your crapboxes.
May 18th, 2010 at 10:24 am
I was thinking about expanding my meth empire. Diversify from growing pot now that CA might make it legal.
May 18th, 2010 at 10:51 am
Great choice for a meth lab! The quadruple train tracks will prevent your neighbors running chop shops from hearing or smelling what you’re up to!
May 18th, 2010 at 10:54 am
It won’t be long until we hear from others how envious we are about nomadic’s meth empire.
May 18th, 2010 at 11:08 am
Best of all, nomadic’s meth empire isn’t in Palo Alto, because “we all agreed” not to discuss it.
May 18th, 2010 at 11:20 am
nomadic’s Palo Alto super operation is Real Secret. Meth made in Real Palo Alto is the very best, just like the Real super babies of Palo Alto.
May 18th, 2010 at 11:24 am
I tried a coke business in Palo Alto, but no one could afford drugs once their mortgages adjusted.
May 18th, 2010 at 11:29 am
I guess only people in Oakland can afford drugs?
May 18th, 2010 at 12:52 pm
It’s your choice: drugs or homeloanership.
May 18th, 2010 at 6:38 pm
drugs or homeloanership.
A bag holder either way?
May 18th, 2010 at 7:05 pm
yes, but what you rather have in your bag?
Huh, so does #11 mean that only renters are on drugs?
May 18th, 2010 at 7:38 pm
“Huh, so does #11 mean that only renters are on drugs?”
First time home buyers?
May 18th, 2010 at 8:11 pm
Kool-aid is a hell of a drug…
May 18th, 2010 at 10:07 pm
Jim Jones finance!
May 18th, 2010 at 10:16 pm
Actually the whole street is filled with garbage.
Santa Clara has had an annual clean-up for the last 50 years.
May 18th, 2010 at 10:25 pm
if you tried selling meth or coke in Palo Alto, their “cultured” kids will poopoo you. They only do Real Meth (TM) or Real Coke (TM) in the RBA. At least in the remaining zip code in the RBA.
May 18th, 2010 at 10:29 pm
Jim Jones actually served grape Flavor-Aid
to his guests…
May 18th, 2010 at 10:38 pm
Yeah, get your facts straight, boys and girls.
In the RBA, we don’t do Kool-Aid; we bagholders, i mean homeowners, only do cyanide-laced grape Flavor-Aid.
May 18th, 2010 at 11:06 pm
In the RBA there is no ordinary Flavor-Aid, only Real Flavor-Aid.
May 18th, 2010 at 11:56 pm
Do you guys consider this house being in RBA?
May 19th, 2010 at 12:06 am
The RBA knows better than invite all neighboring cities in its residential streets for an annual trash fest.
May 19th, 2010 at 12:06 am
Let’s phrase the question this way: Which of you would pay to live in this area?
May 19th, 2010 at 12:19 am
Why, are you the seller, Real Estater? Or are you acquainted maybe? It seems like you’re trying to make a point, but surely it can’t be as vacuous as it sounds.
May 19th, 2010 at 12:27 am
I would pay money to live here!
Kidding. I wouldn’t even pay real estate a dime for the trash he lives in.
May 19th, 2010 at 12:28 am
DreamT,
I’m just questioning why various posts above are referring to RBA.
May 19th, 2010 at 12:42 am
Of course this house is in the RBA. It has a fence around it to keep all those other non-RBA houses away from its Specialness.
May 19th, 2010 at 12:50 am
madhaus,
Have you thought about the fact that your house can trade for 3 of these houses, and you can be closer to your buddies Pralay and DreamT?
Of course, if you go even lower, you can hook up with anon and Alex.
May 19th, 2010 at 12:59 am
as opposed to closer to you, Casanova? Such spite! Now we know why he’s been insisting for madhaus to “upgrade” all this time: to “hook up”!
May 19th, 2010 at 1:07 am
DreamT,
Why the negativity? Isn’t being closer to you a good thing?
May 19th, 2010 at 1:17 am
Are you asking my permission to move to Santa Clara CUSD, Real Estater? You better hurry, we’ve got a red hot market with stunning yearly appreciation.
May 19th, 2010 at 5:42 am
Real Estater- Given this place sold for almost double a few years ago, this place must be in the RBA. We all know that it will bounce back to $600k within the next four years, and therefore, this is clearly a genuine RBA home. That said, I am a little concerned that it’s too close to the railroad tracks. I also note the drain is nearby. My guess would be that drains are included in the long list of Real exclusions. I also have reservations about including a home in the RBA that has already gone down in value by over 40% in such a short period of time. Maybe all homes within a five mile radius of this place should be excluded from the RBA?
May 19th, 2010 at 8:47 am
SEA,
Would you pay to live in this area?
May 19th, 2010 at 8:58 am
Real Estater- I would only pay to live in this area if I could make good money, and since the amount I would make on this place is less than $500k, and that’s not a lot of money, it’s not that interesting.
A better question might be would I buy this place if it were selling for over a million in Palo Alto?
May 19th, 2010 at 9:00 am
Also let’s not forget someone paid $600,000 to live in this area four years ago. Oh well.
May 19th, 2010 at 9:27 am
#33 – if this is the RBA, then this house has to bounce back to $1.2M within the next four years. RBA prices double every ten years after all.
I’d also argue the idea that someone “paid” $600k live there four years ago. The taxpayers picked up a large part of the tab.
.
Has anyone seen the latest staggering statistic for mortgages that are late? It’s up to 1 in 7 nationwide. Sure, it isn’t the RBA but that’s frickin’ huge. (Math help for RE: that means only 86% are current.)
May 19th, 2010 at 9:43 am
nomadic- “if this is the RBA, then this house has to bounce back to $1.2M within the next four years. RBA prices double every ten years after all.”
The home originally sold four years ago, so I was allowing for the full ten years to double. But that only leaves two years to go from $600k to $1.2M.
This math crap is too hard. lol.
May 19th, 2010 at 9:50 am
yeah, I didn’t check the dates. You’re right; it has six years to appreciate to $1.2M. When it doesn’t we can toss it out of the RBA then since you guys want to include it for now.
May 19th, 2010 at 10:14 am
Following the golden rule, it will double to $1.2M in six years (2016), and then double from $300k to $600k in ten years (2020). Don’t ask me what happens in the four years interim period (2016-2020)…
May 19th, 2010 at 10:56 am
Prices only go up in the RBA. We have to ignore the interim $300k faux price.
May 19th, 2010 at 11:18 am
Assuming that this place is in the RBA, how much will this place be worth in 2020?
May 19th, 2010 at 10:26 pm
re: #37
nomadic said, “Math help for RE: that means only 86% are current.”
You fool. Based on that statistics, Faux Estater would claim that a whopping 86% is current! Yippy!!
I’ll leave it to Pralay to find the link demonstrating Faux Estater’s il-logic.
May 19th, 2010 at 10:44 pm
well, duh. We get the same crap from RE, just as regular as Ex Lax. Pralay could provide the link where he points out that unemployment ~11% is no big deal; after all, 89% still have jobs.