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: Active On Redfin: 143 days
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:
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!
February 24th, 2011 at 7:00 am
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].
February 24th, 2011 at 7:47 am
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.
February 24th, 2011 at 8:04 am
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.
February 24th, 2011 at 8:52 am
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.
February 24th, 2011 at 10:27 am
Burbed hadn’t been doing San Bruno for a while since the explosion. They were overdue.
February 24th, 2011 at 10:45 am
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!
February 24th, 2011 at 11:51 am
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.
February 24th, 2011 at 1:22 pm
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.
February 24th, 2011 at 4:03 pm
“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.
February 24th, 2011 at 6:06 pm
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.
February 24th, 2011 at 6:11 pm
Yeah, nobody pay any attention to that low priced crap box, look at all these million dollar crap boxes over here!
February 24th, 2011 at 6:26 pm
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?
February 24th, 2011 at 7:07 pm
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.
February 24th, 2011 at 7:46 pm
#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.
February 24th, 2011 at 8:05 pm
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?
February 24th, 2011 at 8:13 pm
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.
February 24th, 2011 at 9:10 pm
#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.
February 24th, 2011 at 9:43 pm
Having number problems tonight?
Nice pralay of the MC Hammer post. lol
February 24th, 2011 at 10:10 pm
#19#18, what are you talking about? Hee hee hee.February 24th, 2011 at 10:35 pm
No fair, we don’t get to edit our posts.
February 24th, 2011 at 10:38 pm
Don’t whine, I’ll confuse you with #10.
February 24th, 2011 at 11:19 pm
We’ll neg you into oblivion like #10.
February 25th, 2011 at 12:04 am
Great start.