February 24, 2011

Come see this property for yourself!

$325,000

 

Beds: 2
Baths: 1
Sq. Ft.: 1,020
$/Sq. Ft.: $319
Lot Size: 2,000 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1926
Community: San Bruno Park
County: San Mateo
MLS#: 81044562
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 143 days
Come see this property for yourself. Lots of potential. Combo lock box ready to view as of 1/25/2011. Call Ali Hasnain/ Vana (650) 299-9009 for viewing and short sale iinformation

Well, I guess I have no choice but to see this property for myself, since the listing photo is both tiny and flipped horizontally.

Here’s what the photo may actually look like:

13011454

I like how this has been on Redfin for a while now, but the combo lock box has only been ready since last month. It goes to show how swamped our Realtors are – the market must be superhot!

Comments (23) -- Posted by: burbed @ 5:55 am

23 Responses to “Come see this property for yourself!”

  1. SEA Says:

    http://www.redfin.com/CA/San-Bruno/282-Carlton-Ave-94066/home/2004183

    Nearly 100% instant equity!

    Assuming full-price offer (yes, I know, there will probably be plenty of over-bidding, as usual), it’ll be a $310k+ loss for seller. Let’s also assume 48 months, since the owner listed last fall.

    Average loss per month: $6,500 [=$310k/48].

  2. anon Says:

    Oooh! A painted red concrete stoop. Now that’s class. Or crass. I think… Something like that. It’s not brick but, hey, it’s red. What’s the difference? Eh, you’re just jealous anyway.

    SEA, you’re not shortchanging these bagholders are you? Remember there’s property taxes, insurance, etc. I think we can safely assume that the bagholder’s time is worthless so no need to account for that, though.

    Notice the heart shaped streets from the satellite view. If only this bad boy were pink it’d have been the perfect Valentine’s day gift… for your arch enemy.

  3. SEA Says:

    Oh, no I didn’t mean to short or understate the losses. That does not include the interest, much less the property taxes, insurance, and so on.

    I should have been more clear: Average MARKET loss per month = $6,500.

    To compare to renting, one would need to add to the market loss to the cost of interest, taxes, insurance, maintenance, REALTOR commissions…

    But it should be 100% total obvious that one could have rented a very nice place for the $6,500 per month.

  4. nomadic Says:

    Is this pick on San Bruno week?

    Keep it coming. We haven’t seen the likes of these places in a long time!

    Hey, this place is pending. With release.

  5. sonarrat Says:

    Burbed hadn’t been doing San Bruno for a while since the explosion. They were overdue.

  6. Alex Says:

    Assuming full-price offer (yes, I know, there will probably be plenty of over-bidding, as usual), it’ll be a $310k+ loss for seller. Let’s also assume 48 months, since the owner listed last fall.

    #1, you fool! Overbidding only occurs in the RBA, which at this point has been reduced to only the right side of a certain street in Palo Alto!

  7. SEA Says:

    Only fools buy outside of the RBA, and fools are the ones who over-bid. The RBA cannot be over-bid, it’s just properly priced higher.

  8. The Gilroy Alex Says:

    It’s nice to see someone is looking out for the little people. 2 stories for the height-challenged and there’s even parking for a little clown car!

    This should be on the market only a SHORT time!!

    (I’m 5’4″ myself, I can’t believe the stuff I can walk under)

    I thought those red steps were a couch placed out front to sit in and sip your 40 while watching the street people go by ….. then I was disappointed to find it was just steps.

  9. SEA Says:

    “since the listing photo is both tiny and flipped horizontally.”

    Tiny I grant you, but flipped horizontally? Google images matches the listing image, so does Bing.

  10. Real Estater Says:

    Many homes are now selling in the $1.2M range in South Sunnyvale — yup, un-prestigious Sunnyvale:

    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/1386-Deroche-Ct-100_81104537.htm
    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/997-Chelan-Dr-102_11012866.htm
    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/807-Beaverton-Ct-100_81108049.htm
    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/1610-Bittern-Dr-100_81101885.htm
    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/738-Hebrides-Way-100_81108088.htm
    http://www.movoto.com/real-estate/homes-for-sale/CA/Sunnyvale/729-Inverness-Way-100_81057001.htm

    Sunnyvale has traditionally been mid-market. When the mid-market is going up, it’s a reflection of the broader market. The lower end has been hot for a while, but the upper end has been quietly going up also. Look at these pending sales in Palo Alto (several went pending this week):
    4060 MANZANA LN – $3.6M
    1501 BRYANT ST – $3.599M
    851 HOMER AVE – $3.575M
    1441 HAMILTON AVE – $3.45M
    601 MELVILLE AVE – $5.5M

    This is the “pulse of the market” right now.

  11. waiting_for_the_fall Says:

    Yeah, nobody pay any attention to that low priced crap box, look at all these million dollar crap boxes over here!

  12. Craig Says:

    Yeah. Those aren’t overpriced rotting pieces of garbage just like the ones that look similar east of Lincoln street in Palo alto. Really.

    One thing is for sure tho – there’s a lot of pretty wealthy people cashing out of their 2+M homes. They know what’s going on. Time to cash out and load the next generation up with the debt..

    Any takers besides real estater?

  13. SV Shopper Says:

    I for one would love to get into one of these “rotting pieces of garbage”. I got out-bid twice this year already. I guess one person’s garbage is another person’s gem.

  14. nomadic Says:

    #10, when are you going to realize that a list price does not equal sold price? The stats for 94087 show list prices down 7.7% and sold prices down 24.4% from last year.

    http://www.redfin.com/zipcode/94087

    Most of your listings are very new, with fresh wishing prices too.

  15. anon Says:

    SV shopper, that’s really a sad story. I’m sorry that you’re having such a tough time finding a house. Since the market is so overheated right now why don’t you wait until it cools off a little bit?

  16. SEA Says:

    Gosh, I’m not sure what to believe. On the one hand we have a claim that the market is so hot just look at all this available inventory, yet on the other hand we have a person who suggests he’s having a hard time finding a place. Now if those two could somehow gel.

  17. madhaus Says:

    #16, not only that, a person who claims he really really wants a place but has been looking for a year and a half, yet keeps telling us he’s outbid. Despite falling prices in the neighborhoods he purports he’s buying in.

    As to #10, well, hopefully this is the last time he writes up a dumb post on an area he doesn’t understand. After all, this is 94087. He can’t touch that.

  18. nomadic Says:

    Having number problems tonight?

    Nice pralay of the MC Hammer post. lol

  19. madhaus Says:

    #19#18, what are you talking about? Hee hee hee.

  20. nomadic Says:

    No fair, we don’t get to edit our posts.

  21. madhaus Says:

    Don’t whine, I’ll confuse you with #10.

  22. nomadic Says:

    We’ll neg you into oblivion like #10. :-P

  23. madhaus Says:

    Great start.


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