January 31, 2011

Great starter home–ready for move in or remodel in Palo Alto

Beds: 3
Baths: 1
Sq. Ft.: 905
$/Sq. Ft.: $1,133
Lot Size: 6,875 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Stories: 1
Year Built: 1950
Community: Barron Park
County: Santa Clara
MLS#: 81049730
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 89 days
 
Looking for a great starter home, move in ready, remodel or maybe build your dream home in the Barron Park neighborhood, this is the property for you. Quiet area close to schools, Parks and shopping. Perfect investment opportunity for the savvy investor/builder.

Every everyone! Check out this fantastic deal! Just $1,133 per square for for you to tear down, or move into. It’s amazing how things can be both perfect opportunities for investors/builders and be move in ready. But this is the kind of innovative and agile spirit that we have in the Real Bay Area.

So let’s see… buy it… tear it down… build a 2000 sqft home on it… hey, that’s not too bad at all! Just $1.625M all in! Sweet what a deal!

Better buy soon. This is the year Real Bay Area prices roar back. I’m calling it now – $2000 per square foot in Palo Alto by this time next year!

Comments (35) -- Posted by: burbed @ 5:42 am






January 30, 2011

Mark Moves to A Bigger Rental

Palo Alto’s most famous renter has pulled up stakes, so he can live even closer to work.

According to Zillow Blog, Mark Zuckerberg’s old rental came back on the market, for a whopping $7,850 a month.  Here’s the description from Craigslist, although supposedly the place has found a new tenant:

Prestigious location! Charm and functionality! Gorgeous 2 year old 4+BR/3BA Single Family House. Chef’s kitchen with gas stove. Only 2 years new. Approximately 2350sf. Huge family room with the view of Kitchen. Washer/dryer on the second floor, wood burning fireplace and beautiful wood trim are some of the amenities of this house. Walk to Stanford University, restaurants on El Camino Real and extremely close to Stanford shopping center. 2 car parking garage. Please call for an appointment. Lease term 12 months or longer. Only $7850/month.

imageHis former rental house is 2073 Princeton Street, which Zillow estimates is worth $1,362,000.  We don’t know what Mark was paying in rent, but let’s use the new asking price and calculate the price rent ratio: 14.46.  Whoa!  If that Zestimate is correct, it says Mark should have bought the old place!

But that’s okay, thanks to Burbed reader SEA we can do the same for the new place!  Mark is now living at 2300 Amherst, even closer to Facebook headquarters!  The new rental is 5 bedroom, 4 bath, and 3801 square feet, and Zillow’s estimating this one at $2,142,000.  Alas, the monthly rent amount was not reported.

image

image

Mark Zuckerberg I’m paying $10,900.  Friend me!
about an hour ago · Like

Comments (6) -- Posted by: madhaus @ 5:05 am

January 29, 2011

Rent versus Buy, Take 117

Trulia has yet another view of the perpetual Rent versus Buy debate, and they’ve got lots of colored bubbles to help.  Bubbles are great.  They lead to high housing prices and if you own the house, you get to paint it any color you want (as long as you don’t live in a fascist HOA community).

imageThe map at right is from Trulia’s Rent vs Buy tool.  The rent ratio is calculated by comparing the median list price of a 2 bedroom condo or townhouse listed on Trulia to the average monthly rent, for the 50 largest cities in the United States.

You see the problem right away, don’t you?  2 bedroom condo or townhouse.  Excuse me, but who the heck wants to buy a 2 bedroom condo or townhouse?  Maybe some of us have to (if we want to own anything), but for those who can buy a single-family detached house, the ratio we want is the cost versus the rent of a three bedroom, two bath house with a yard.  Those are difficult to find in San Francisco, and almost nonexistent in New York City, but for everywhere else, such a thing is not only possible but highly desired.

So who cares if Trulia says San Jose has a price to rent ratio of 15 (which puts it right over the line for the BUY column)?  That means BUY don’t rent the condo.  The question is whether to buy the house, and they aren’t helping with that decision.

Here are Trulia’s Rent vs Buy numbers for some cities of interest.  Remember, under 15 means buy, over 20 means rent, and in between, it depends.  Maybe that means live somewhere else.

City Avg List Price Avg Rent Price to Rent Ratio
Fresno $90,446 $936 8
Sacramento $152,696 $934 14
Oakland $278,245 $1,625 14
San Jose $298,621 $1,691 15
Los Angeles $491,055 $2,460 17
San Diego $396,409 $1,670 20
San Francisco $774,728 $2,996 22
Portland $307,858 $1,145 22
Seattle $461,330 $1,546 25
New York City $1,383,612 $3,538 33

The biggest surprises on the full list?  Omaha, at 26 and Fort Worth at 30, although Trulia notes the Fort Worth sample size was insufficient. These numbers don’t show whether attached housing is seen as a city norm or not, and if not, at what discount does attached housing go for compared to detached.  I suspect the odd results for Omaha and Fort Worth are for that very reason.  There may be so few attached units that the results are meaningless.

So where does San Jose fit on the scale of urban to suburban?  Given the name of this website, perhaps San Jose house price rent ratios are in the thirties.

Comments (33) -- Posted by: madhaus @ 5:05 am

January 28, 2011

Amazing income opportunity in East Palo Alto

Beds: 3
Baths: 1
Sq. Ft.: 940
$/Sq. Ft.: $266
Lot Size: 5,000 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1927
Community: East of U.S. 101
County: San Mateo
MLS#: 81057944
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 23 days
PRICE TO SELL FAST!!!  Start building equity right now with this great home in up and coming area of East Palo Alto. This home is well maintained and would be a wonderful starter home or a fantastic income property. New roof!! This property was rented out for $2,000/month. Recently got new carpet, paint and appliances. Priced to sell!!!

Thanks to Burbed reader A.L. for this find!

First, let’s look a the history of this fine, affordable, property.

image

Wow, just look at the equity possibilities here. Here is $315k of instant equity just sitting around waiting for you to tap.

But what A.L. really wanted to point out was the fact that this place currently rents out for $2000 a month! Can you believe that? $2000 a month in East Palo Alto. Talk about an amazing revenue stream. I wonder who is paying that rate – what are your thoughts?

Comments (24) -- Posted by: burbed @ 5:36 am

January 27, 2011

Combines Character of the Past Era with Modern Monthly HOA Fees

Here’s another delightful find from Burbed reader sonarrat, who only comments, “One of the oddest listings I’ve ever seen.”  And sonarrat has certainly found us some odd ones before!

1566 Duckett Way #19, San Jose, CA 95129
$1,598,888

image

BEDS: 5
BATHS: 2.5
SQ. FT.: 2,776
$/SQ. FT.: $576
LOT SIZE: 4,620 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Colonial
STORIES: 2
VIEW: Green Belt, Neighborhood
COMMUNITY: Cupertino
COUNTY: Santa Clara
MLS#: 81050795
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 99 days

This beautifully restored Colonial Revival home in new home community combines the character of the past era while offering all the luxuries of today’s lifestyle. 2 story home plus sunroom, detached artist studio and basement/wine cellar. Gourmet kitchen with viking appliances. Large redwood deck off master overlooking wooded creek! Top Cupertino School District (Blue Hills, Miller, Lynbrook).

imageOdd?  It’s a listing with Cupertino schools and there’s 8s in the price.  That sounds downright normal!  What is odd is the small lot size and all those extraneous buildings.  Which ones are yours and which are merely situated really, really, really close to yours?

You know what else is odd?  Upwards of a million and a half for the house and not one interior picture.  Are they still restoring it?  Guess they don’t want you to know, because they conveniently left the year built off the listing.

But the satellite view might give us a hint.

image

Heck, the $175 a month HOA fees are needed just to sweep up all that construction mess.  Well, other than the unspecified townhouses or condos on the site, let’s see who the neighbors are!

image

Definitely a million plus view!  So, is this a convenient location?

image

You betcha!  This house is within 1000 feet of three gas stations, four shopping centers, a bus line, and the world-famous California 85 freeway, which goes directly to Google! 

Now all the seller needs is the economy to do a Revival along with this Colonial.  Then some lucky buyer, somewhere, will say, “Honey, do you know what I want?  I want to live in a big Colonial Revival right next to a bunch of attached housing!  Then they will all know that WE live in the Big House, even if it has an apartment number!”

Plantation boss lifestyle without the kudzu!  What are you waiting for?  Think of the fun your kids will have giving out their new street address!

Comments (13) -- Posted by: madhaus @ 5:01 am

January 26, 2011

DO NOT DISTURB TENANTS. NO MATTER HOW INTERESTED YOU ARE !! THIS MEANS YOU !!

Beds: 2
Baths: 1
Sq. Ft.: 1,088
$/Sq. Ft.: $345
Lot Size: 10,080 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1951
Community: Alum Rock
County: Santa Clara
MLS#: 80945706
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 473 days
DO NOT DISTURB TENANTS. NO MATTER HOW INTERESTED YOU ARE !! THIS MEANS YOU !! Not a short sale. Fixer upper on large lot w. frontage to White Rd. Future commercial potential. Circular driveway, lot size is 70ft. by 145 ft. Recently annexed into City of SJ. Great New Potential !!

Wow… I can just picture it now. Tour bus load after tour bus load of tourists from China and India, stopping by, disturbing the tenants, all desperate to buy this house.

Wait a minute… haven’t we seen this before?

March 4, 2010

Affordable housing, or commercial real estate in East San Jose

1051 S WHITE Rd Sa
n Jose, CA 95127

$375,000

image

But hey, now it’s been annexed into the City of San Jose! (What was it previously?)

But whatever you do…. don’t disturb the tenants you desperate uncouth buyer you!

Comments (16) -- Posted by: burbed @ 5:09 am

January 25, 2011

With all three Good Cupertino schools!

You remember the phrase “the value is in the land”?  Usually that’s said when calling the house a crapbox is an insult to outdoor toilets everywhere. Let’s just say that today’s land isn’t much to talk about, either.  So, where is the value?  Because today’s house is a value!  Read on to find out if it’s a positive or a negative value.

1586 S Bernardo Ave, Sunnyvale, CA 94087
$929,999

image

BEDS: 3
BATHS: 2
SQ. FT.: 1,603
$/SQ. FT.: $580
LOT SIZE: 7,956 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Ranch, Contemporary
STORIES: 1
YEAR BUILT: 1956
COMMUNITY: Sunnyvale
COUNTY: Santa Clara
MLS#: 81100512
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 19 days

Charming home with all three good Cupertino Schools- West Valley, Cupertino Middle, Homestead High. Double Pane windows * Bright Kitchen with Family room * Hardwood Floor * Central Heat and A/C * Spacious living room w/ fireplace, sliding doors to fruit tree large yard * Los Altos border * Must see to appreciate. Compare the price to other homes with all three Good schools!

Does this house have Cupertino schools?  It does?  Great!  Just checking, as the Realtard only mentioned it a few times. Does the house have anything else, in case I might want to consider living in it rather than merely taking advantage of all three Good schools?

image

Well, it has a kitchen.  At least I think this is a kitchen.  It’s hard to tell because while it has cabinetry and counter-like fixtures, this room seems decidedly short on luxury kitchen-type appliances. You know, such as, say, an oven or a refrigerator.

It’s got a sink, okay?  Plug in a microwave next to it and you can make all the ramen you want.  And you don’t need a fridge for PB&J.  What’s that?  You do?  You’re just not being flexible enough.  There should be room to keep a small ice chest in one of those cabinets.  Store the peanut butter and jelly jars in the cooler.  Problem solved.

What?  You’re worried about where to get more ice for the cooler?  Right here:

image

imageSee that circled area at the bottom?  That’s a Mini-Mart at the gas station.  See that school between your future house and the Mini-Mart?  That school is the reason this architectural armpit has a wishing price of $930,000.  You are not buying this house unless you have at least one child who will attend every one of those Three Good Schools.  So make the little brat bring home ten pounds of ice for the cooler every day.  It’s the least the ungrateful wretch can do for you after you spent almost a million dollars for public school.

imageThe value of this place is not in the land, as the backyard demonstrates.  The value is obviously in The Three Good Schools.  And proximity to the Mini-Mart.  And so convenient to the freeway and the Los Altos Border!  Why, Caltrans has installed a handball court right across the street!  So not only will your kids attend The Three Good Schools, you need not waste money on sports leagues or appliances!

imageYou know those other homes with all three Good schools you’re supposed to compare to this one?  They not only cost more, the kids living there will have to travel much further to play handball for free.  Every time you look at this sound wall handball court (which means whenever you leave this house), you can pretend you’re living in an exclusive, ivied walled compound, just like in Atherton.  A very, very large one, because it’s so Full of Win.

Comments (19) -- Posted by: madhaus @ 5:05 am

January 24, 2011

Free child with purchase of house!

1043 SYLVAN Dr San Carlos, CA 94070

$529,000

image_thumb1

Beds: 3
Baths: 2
Sq. Ft.: 1,310
$/Sq. Ft.: $404
Lot Size: 5,000 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1948
Community: Clearfield Park/North Redwood Subdivision
County: San Mateo
MLS#: 81051733
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 75 days
Large fenced rear yard. Level lot, tile floors and fireplace in living room. Garage converted. Huge master bedroom addition.

Thanks to Burbed reader RBSC for this find!

Nothing too unusual here so far. Garage converted probably without a permit… blah blah blah. let’s look through the pictures:

1043 SYLVAN Dr, San Carlos, CA 94070

Ok, some torture instruments from medieval Europe. Cool. This house has some history.

1043 SYLVAN Dr, San Carlos, CA 94070

I like the modern art piece! And… the… whatever it is on the toilet seat! (It looks like tracking dots for CG purposes. Are they animating the next Aquaman here?)

1043 SYLVAN Dr, San Carlos, CA 94070

There you go! Free boy with purc
hase of house! And he can even play the guitar! Sweet!

Better act fast before this guy beats you to the house!

Herbertthepervert.jpg

Comments (15) -- Posted by: burbed @ 5:17 am

January 23, 2011

We’re Number Eight! We’re Number Eight!

And we’re number eight within… number twelve?

The world’s fastest Internet access—who’s got it?

Fortune/CNNMoney Posted by Scott Woolley January 23, 2011 6:00 AM

New research ranks the countries with the fastest Internet connections, and all 50 U.S. states too.

The speed at which people around the world connect to the Internet is climbing at a 14% annual clip and now averages nearly 2 megabits per second, according Akamai’s "State of the Internet" report that is due out tomorrow. There remain huge variations around that average speed. South Koreans hook into the Internet at 14 megabits a second, seven times the global average, earning them the top spot on Akamai’s list:

image

Well, you can head over to the article and see the list for yourself. Nobody really cares if South Korea has better Internet speeds than we do. Do they have sushi? Didn’t think so.  And neither does Hong Kong or Japan!

More important is which states have faster Internet speeds than California. It won’t surprise you that each and every one is there not because of their engineering prowess or sheer high-tech awesomnity, but because THEY CHEATED.

  1. Delaware, 7.1 Mbps. Delaware only exists so all those corporations who are legally persons have a legal birthplace as well. Those fast downloads are just lawsuits flying from one company to another.
  2. Utah, 6.4 Mbps. High speeds realized by the majority of residents spending all their time in church, meaning nothing ever downloaded but the same 6 Warren Miller ski sequences.
  3. District of Columbia, 6.4 Mbps. Since the Federal Government runs on the Secret Government Internets, high speeds easily attained by little traffic but lonely agency workers reloading their Match.com profiles three times for good luck.
  4. Rhode Island, 6.3 Mbps. The state is so small that the rates are meaningless. You can’t measure latency when the border is always within 25 feet of you.
  5. Vermont, 6.2 Mbps. Cows and hippies and hippie ice cream companies. Does anyone there use the Internet besides Ben and Jerry? Didn’t think so.
  6. New Hampshire, 6.1 Mbps. Just as a smile is a frown turned upside-down, The Granite State is just Vermont flipped over. So they have Tea Party Loons instead of Flower Children. Same result: only five people in the whole state ever go online.
  7. Massachusetts, 5.9 Mbps. There may be a few people at MIT who use the Internet but I suspect their influence is greatly exaggerated.

And California is #8 with 5.8 Mbps, but we’re probably the only state that uses the Internet for what it was designed for: ogling real estate.

Comments (7) -- Posted by: madhaus @ 3:14 pm

January 22, 2011

Bay Area Children Better Off

 

Bay Area Children Better Off Than Rest of California

In a sign of the Bay Area’s relative wealth, children in the region are more likely to live in households with higher incomes and with parents who are married and have higher education levels than children statewide, according to a survey of parents from the Lucile Packard Foundation for Children’s Health released in December. While 24% of children in the Bay Area live in households with incomes above $125,000, only 18% statewide had this level of income, the survey found. But because of the high cost of living in the Bay Area, 23% of parents here said their level of income isn’t enough to provide for their children, only slightly lower than 26% statewide. "While that’s better than the rest of California, that’s still concerning," said David Alexander, president and chief executive of the foundation.

[BAYSIGNS]

Congrats to the Bay Area. And let’s face it, since California is the center of the world, then Bay Area children are better off than the rest of the world.

We’re #1! We’re #1!

Comments (13) -- Posted by: burbed @ 5:22 am