February 1, 2011

Bonus Post: Watch This Place Skyrocket!

If you read the news about possible congestion pricing on the San Mateo and Dumbarton bridges, then you’re an informed, savvy real estate investor!  So why not start picking up some Peninsula properties now, because they’re going to be HAWT, HAWT, HAWT!

1227 Sevier Ave, Menlo Park, CA 94025
$380,000

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BEDS: 4
BATHS: 2
SQ. FT.: 1,916
$/SQ. FT.: $198
LOT SIZE: 5,750 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1946
COMMUNITY: East of U.S. 101
COUNTY: San Mateo
MLS#: 81041407
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 165 days

Short sale approved at this price. Large remodeled home with nice touches. Maple cabinets, granite counters, pergo flooring. Great price for this much square footage. Outside needs works in the back. Great Opportunity!!!

See, even the bank knows this one will be selling shortly, so they raised the asking price after the last contract fell through!  I bet those bank vice-presidents know some people on the bridge committee, too!  It really is all about who you know, and this one’s going to be selling for a thousand a square foot real soon now!  Don’t you want to be able to tell your friends that you snagged it at $198 a foot?  Of course you do! Hurry, before something happens in the back, like your worst enemy closing on this place before you can pick up the phone!

This is a no-brainer, everyone!  It’s in Belle Haven, and you know anything French is just tojours l’amour to rich people!  I bet it even includes a free staircase inside!

Comments (13) -- Posted by: madhaus @ 5:39 am

13 Responses to “Bonus Post: Watch This Place Skyrocket!”

  1. Alex Says:

    Oh puhleeze! You reek of jealousy.

    There is no way low-class Menlo Park will ever reach the status of Palo Alto. Too much of Menlo Park is on the wrong side of the street. And it doesn’t have Palo Alto high or Gunn. You have too many invaders from East Menlo Park…wait, it’s all Menlo Park.

  2. sonarrat Says:

    Good rule of thumb for this area: Atherton is old money. Menlo Park and Palo Alto are new money. East of 101 is no money.

  3. madhaus Says:

    Higher bridge tolls means this house is full of win! Why are you sitting around arguing? Get over there and buy this house before there’s a serious incident in the back yard. Who knows, the stairway to heaven could point the other way.

  4. sfbubblebuyer Says:

    Better hope it has a free flak jacket inside.

  5. nomadic Says:

    This house is full of FB win! Tax basis of $80k and a short sale at $380k.

  6. sfbubblebuyer Says:

    Full of loss for the bank! Comparable houses are selling for under $300,000!

  7. madhaus Says:

    Property Shark only reports a $174K loan from a 1998 refinance. Why would the bank ask for so much, unless they have such a huge pile of shadow inventory that they don’t want sell anything at current market rates?

    Yeah, that’s a question that answers itself.

  8. Tuno Says:

    a nautical porthole, and so close to the water!!

    or is that to aim your shotgun out of?

  9. Alex Says:

    Do you think I can avoid paying alternative minimum tax if I buy this house? Or does it have to be in Palo Alto?

  10. madhaus Says:

    Maybe all you need is a house plus a Palo Alto mailing address. Win-win! Plus no need for jealousy.

  11. Real Estater Says:

    Alex,

    As a general rule of thumb, ghetto’ers don’t pay no AMT.

  12. SEA Says:

    “ghetto’ers don’t pay no AMT.”

    Such fine prose…

  13. nomadic Says:

    I think he was going for humor, but the double negative… oh, never mind.


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