October 25, 2010

Caption Contest Results – The Winner

Last Thursday we presented this photo of a Bank of America branch in Palo Alto, and asked you to write a better caption.  Thank you to everyone who participated.  The entries which received at least one vote are:

#9, RealEstater

Welcome to Palo Alto, Mr. Obama! (vote by #10*)

#17, bob

Early Wednesday morning workers at a local Bank Of America were surprised to find a lone bicycle wheel parked in one of their bike racks. After a careful cross examination the wheel told Police that it suffered serious depression from living in the East Bay and one night simply couldn’t take it anymore and thus freed itself from it’s owner’s bike and rolled itself all the way to Palo Alto where it had always wanted to live. His snobby friends had told him Palo Alto was where all the “Cool, rich, and successful bicycles and wheels lived” The wheel told officials he’d only stopped to rest at the bank but fell asleep.(#22, 82*)

#80, Alex

Dude, where’s my bike?
(or the adult version – bitches, where’s my bike?)  (#91)

The Winner

#2, ymous

“The primary assets of Bank of America bank are seen in Palo Alto, Calif., Monday, Oct. 18, 2010. Bank officials stressed that they had secured the complete bicycle with “a really good lock” over the weekend, and that despite losing everything but the front wheel of the second bicycle in a theft on Friday afternoon, they were “confident” it would fetch a solid price at auction.(AP Photo/Paul Sakuma)  (#16, 22*, 57, 79, 82*) 

* asterisks mean a commenter voted for more than one entry.

Congratulations, ymous, for a creative and popular caption!  You may nominate which zip code or actual property listing should be featured by emailing burbed@burbed.com or posting in comments.  Also a golf clap to our second-place finisher bob, who knows that the second-best offer gets nothing, but the second best caption gets a zip or listing suggestion anyway.

Comments (22) -- Posted by: madhaus @ 5:00 am

22 Responses to “Caption Contest Results – The Winner”

  1. ymous Says:

    I nominate 94301. I want someone to find a property with enough sales history that we can see a peak price somewhere in 2006-2008, and a subsequent price drop (of at least 10%) due to the popping of the housing bubble – a clear case of the peak buyer losing money.

    All in a good neighborhood, nice street, good property. Arms-length transaction, no funny business. Short sales/REOs allowed (but do they really exist in 94301?).

    This will of course automatically disqualify this one house from the RBA, but I like to make trouble like that.

    If it can’t be found – I guess there was no housing bubble, and we all really are priced out of 94301 forever.

  2. madhaus Says:

    Okay, a 94301 feature it is. Although I thought we had all agreed not to discuss Palo Alto anymore.


  3. SEA Says:

    My guess: 758 Center. Sure to meet the 10% loss the current asking price is $200k over where it needs to sell, but this place hasn’t gone pending yet, and it’s already been reduced by $200k, and the asking price is $100k under the 2008 purchase price.

  4. nomadic Says:

    Does 758 Center qualify? It’s on the wrong side of Middlefield.

  5. SEA Says:

    nomadic- 94301 has far too much wrong side of Middlefield–I don’t see how it can qualify as a proper zip code. I mean, given it has so much wrong side of Middlefield, would you admit to living in 94301?

  6. nomadic Says:

    That’s not the point, SEA. ymous was looking for a prime 94301 property. I guess Crescent Park is a “good neighborhood” but is it good enough for #1?

  7. SEA Says:

    ymouse wrote, “…good neighborhood, nice street, good property…”

    If 758 Center does not qualify, I guess we should poke fun at it for being a $3M crap property, or at least isn’t good.

  8. ymous Says:

    758 Center hasn’t sold yet below peak, and the listing is not even 10% off the last sale. I want hard evidence with a sale. So can we do the unusual thing of having a listing that is after the sale completed?

    I’m trying to be as picky as the housing bulls are…

  9. ymous Says:

    What is the ‘I thought we agreed not to talk about Palo Alto’ joke? I must have been trolling somewhere else on the web the day of that thread. I mean, I can guess what the conversation went like, but will you kindly give me a link so I can read the infotainment?

  10. nomadic Says:

    ymous – it’s been bouncing around for awhile.


    It probably started with the May 16 thread.

  11. Alex Says:

    was this the thread?


  12. Alex Says:

    Dunno of an easy way to search using ymous’ criteria.


    this comes close if you factor in realtard fees 🙂

  13. ymous Says:

    #12 – mmmm, it’s not much of a price drop, but the high water mark price was in June 2006 (apparently after a foreclosure!), so it presumably was worth that much more in 07/08 or later. Even so, it shows a small loss after 4+ years of ownership – not counting the approximately 6% loss on commissions. Yeah, that sucks – this listing is a reason not to buy – this could happen to you, even in 94301/0ld Palo Alto. What a waste of time and money.

    Is this on the right side of Middlefield?

  14. ymous Says:

    #11 – that thread is awesome. Hilarious. That’s gotta be the start of it. Real Estater is priceless. I like his late posting about Tesla in Palo Alto – another way of implying how good things are in Palo Alto.

  15. bob Says:

    Wow! I feel very flattered. I believe I’d had a few drinks when I wrote my little entry. Thanks!

  16. madhaus Says:

    bob, feel free to nominate a zip or for sale listing for the burbed treatment.

  17. SEA Says:

    ymouse- Instead of looking for one that has already sold, which I don’t generally go looking for, I thought I’d pick one that was (most) likely to close at the price points you mentioned. Having a sale in 2006-2008 with a repeat sale in 2009-2010 isn’t the largest pool, once all the “non-arms-length transactions and funny business” is eliminated.

    Most of the homes that qualify for quality are over $1M. It’s my guess that the buyers are generally in a position to remain for longer than the 1-4 years in your time span. There are buyers on the lower end that never make a single payment, but how frequently does that happen on homes with a selling price over $1M?

    Any property that doesn’t experience an increase of about 7.2%, compounded annually, can be kicked out of the RBA, if it was ever in the RBA.

  18. Real Estater Says:

    I won’t comment on 94301, since I like to stay neutral.

  19. SEA Says:

    Here I thought you were our 94301 expert?

  20. Real Estater Says:

    >>Here I thought you were our 94301 expert?

    You must be talking to Pralay?

  21. SEA Says:

    Real Estater- Are you ok?

  22. madhaus Says:

    I wish steve would come back. Now he was a 94301 expert.

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