February 21, 2011

“Will be a good house for first time home buyer” in San Bruno

$249,000

Beds: 2
Baths: 1
Sq. Ft.: 780
$/Sq. Ft.: $319
Lot Size: 2,460 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1947
Community: Belle Air
County: San Mateo
MLS#: 81057164
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 52 days
Will be a good house for first time home buyer. Alternate to condo, no, HOA fees. and private.

Hey all you first time home buyers! Boy does San Bruno have a deal for you!

Alternate to condo, no?

And best of all – location location location

13011449

Hello! Can you say “passive income from SFO parking”? Rich Dad would be super proud of you! Maybe even Tiger Mom!

And to think that people say there’s no affordable real estate in the Bay Area… phsaw!

Comments (26) -- Posted by: burbed @ 5:50 am

26 Responses to ““Will be a good house for first time home buyer” in San Bruno”

  1. anon Says:

    Still overpriced. Next.

  2. Zak Says:

    Somewhat unrelated question. What do you guys think of:

    http://www.auction.com

    I recently saw a house on this site for 39K. The place looked half decent in the picture so I decided to check it out. It was a complete dump. I did not even bother to step out of the car. The picture did not match the actual house.

    This got me thinking. There are out of state buyers who bid on these homes based on the information they see on the website. Is this site a sucker magnet? Do serious RE investors consider the data on this site?

    I also understand that auction houses charge the buyers a fee. Any idea how steep the fee can be? Can a house that is being auctioned still have liens on it? The Bank might take a loss after the auction but the city might still go after the house for back taxes.

  3. madhaus Says:

    Rich Dad isn’t married to Tiger Mom anymore. He traded his fortysomething wife and mother of his children in for two twentysomething Trophy Mistresses, and a Trophy Divorce. All he got to keep was the Porsche. The RBA house stays with the kids, they need the school district.

    I hope his rent checks are covering the young ladies’ shopping excursions. One of them has her eye on this cute little place.

  4. Marty Says:

    Madhaus –

    Is this true or just a Karma fantasy?

  5. nomadic Says:

    What a POS. Short sale too.

    Shouldn’t the listing say “needs TLC” and/or “fixer upper?” It’s a horrible house for the first time buyer – it’ looks like there hasn’t been any maintenance (not even light bulbs or Drano) for decades. Then again, a first time buyer might not mind the place falling down around them if they’re handy enough to fix things.

  6. anon Says:

    I like to apply the ‘piece of shit test’ to houses like this? It goes something like this: Is the house a piece of shit? If yes, then its not worth a quarter million dollars.

  7. Craig Says:

    Come on Nomadic, first time home buyers don’t deserve to buy something livable. That’s the whole point of pricing them out.

  8. Petsmart Groomer Says:

    > If yes, then its not worth a quarter million dollars.

    bob, is that you?

  9. madhaus Says:

    Did you all notice this POS went for $215k… in 1998? Talk about living in your house while it makes money for you! I bet you could have made a lot less than 1.003% annually!

  10. anon Says:

    > bob, is that you?

    …Maybe? I don’t know about you, but I sure as shit wouldn’t put up a quarter mil for this place and I wouldn’t even consider paying $1,200 a month for 30 years. Would you?

  11. Petsmart Groomer Says:

    > Would you?

    I sure as shit wouldn’t. But I also sure as shit would have spelled “it’s” properly ;-)

    Now, I would still feel confident buying a house from Liana Melcher, who not only is an incredible agent, but who is also not afraid of fighting the punctuation Establishment.

  12. nomadic Says:

    #8, hell yeah – being a short sale, they’ve been pocketing (or much more likely, spending) all of the money that crap palace has been spewing!

  13. anon Says:

    yep yep.. the current debtor is probably up to their eyeballs in debt. Hilarious stuff.

    The place isn’t worth what it was in the 90s. The structure has deteriorated more and the land has probably become more polluted.

  14. madhaus Says:

    #10, good call:

    Mortgage Details
    Lender #1 First Frank Fin
    Loan amount #1 $172,000
    Loan type #1 Conventional
    Rate type #1 Variable
    Loan amount #2 $32,250

    Lender First Frank Fin

    Wow, what did they put down, 5%? They sure put their butts on the line… after sacrificing their eardrums.

  15. nomadic Says:

    Too bad Propertyshark doesn’t show the refi info anymore. That loan data must be the original ones; I’d like to know how much they got before defaulting.

  16. SEA Says:

    “I sure as shit wouldn’t put up a quarter mil for this place and I wouldn’t even consider paying $1,200 a month for 30 years. Would you?”

    Now I know that there have been so many who have claimed that nothing is left after renting for many years, but really, if you “purchased” this POS and paid $1,200 a month for 30 years to your friendly lender, what would you have left over?

  17. Petsmart Groomer Says:

    > if you “purchased” this POS and paid $1,200 a month for 30 years to your friendly lender, what would you have left over?

    A piece of the American Dream.

  18. madhaus Says:

    > if you “purchased” this POS and paid $1,200 a month for 30 years to your friendly lender, what would you have left over?

    Plus pride of ownership! Of course, who owns whom isn’t exactly what you thought.

  19. madhaus Says:

    #14, I didn’t realize PropertyShark no longer has Refi info. I just thought what they had was pretty hit or miss.

    But I did wander over to Foreclosure Radar and found this:

    Foreclosure Details
    7TH AVE
    SAN BRUNO, 94066
    Type:Auction
    Estimated Value:$484,448
    Loan Amount:$468,769

    On what planet is this POS worth almost not a lot of money?

  20. madhaus Says:

    Ahhhh, disregard the above, that’s a 1400 sf house. That’s what I get for going by street names with no numbers. Any suggestions on where else to look up the amount outstanding?

  21. madhaus Says:

    There are a LOT foreclosures in this zip code. Sorry for all the posts, everyone. This one is closer, the square feet are within 40 (740 sf, 2 BR, 1 BA).

    Foreclosure Details
    7TH AVE
    SAN BRUNO, 94066
    Type:Auction
    Estimated Value:$379,802
    Loan Amount:$619,828

    Say WHAT??????? Even if it’s a different house, it’s still next to the runway, it’s still really tiny, and it’s still… oh what’s the use explaining?

  22. nomadic Says:

    There is no explaining how ridiculous appraisers were during the bubble.

  23. SEA Says:

    The value is in the land!

  24. Real Estater Says:

    This is what you can get in Tracy for the same price:

    http://www.movoto.com/real-estate/homes-for-sale/CA/Tracy/2356-Abbott-Ct-102_11003324.htm

    Why go anywhere else?

  25. anon Says:

    Both houses are garbage, real estater.

  26. madhaus Says:

    Plus the house in Tracy has grease spots in the driveway while the San Bruno driveway has a delightful live plant border.


Leave a Reply

Please be nice. No name calling, no personal attacks, no racist stuff, no baiting, etc. Let's be nice to each other in the true Bay Area spirit! (Comments may be edited/removed without notice.)