March 17, 2011

It’s got the copy and the listing history to be famous

burbedguestblogger

As any regular Burbed reader knows, the East Bay is no way no how never was, never is and never will be part of the Real Bay Area (RBA).  But there’s plenty to be found in the East Bay!  Plenty of great houses for Burbed treatment, that is.

So, speaking of the East Bay, please welcome A Lewis, in his very first appearance as a Burbed Guest Blogger!  Please give him a warm RBA welcome!


8190 TERRACE Dr, El Cerrito, CA 94530
$549,000

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BEDS: 4
BATHS: 3.5
SQ. FT.: 3,973
$/SQ. FT.: $138
LOT SIZE: 6,630 Sq. Ft.
TYPE: Detached
STYLE: Brown Shingle
STORIES: 3+
YEAR BUILT: 1969
COMMUNITY: Country Club Ter
COUNTY: Contra Costa
MLS#: 40513365
SOURCE: EBRD
STATUS: New
ON REDFIN: 4 days

VIEWS! Views! Views! Enjoy the views of the Bay and the Golden Gate Bridge! Huge Potential with plenty of space. POOL, possible inlaw apartment downstairs for extended family. Contractors Dream! HUGE, HUGE upside potential!

imageFirst, the listing copy is so Excited, EXCITED! VIEWS! POOL! That is one crappy pool in lieu of a small back yard Great hazard for families with small children.

That’s strange, no interior pics?

And 3 of the worst view pics you could imagine. Why would you take your view pics on a hazy grey day and then reduce them to an unviewable resolution? Do they teach that in realtor-school?

 

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But the listing history is what makes this worth a second look – first off, there HAS got be a law made so you can’t call a listing ‘new’ just because you took it off Redfin for five seconds. Second, look at the almost unbroken monthly activity since 2008. This house needs a rest – it’s getting more action than a $5 hooker.

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But it’s got $444k of instant equity! Multiply by 2 and you’ve got three 8’s! it’s only been foreclosed on once, and then it sold for $400k just one week ago. Now it’s ready for a new owner! How was that 7 days of owner-occupied bliss, anyways?

What the heck is happening on the inside of this place – I know they say Contractor’s special, but what have they been doing with it all these years? This one looks ripe for a fraud investigation. But at a rock-bottom $138/sqft, how can you pass it up? And it has a POOL!

Comments (48) -- Posted by: madhaus @ 5:15 am

48 Responses to “It’s got the copy and the listing history to be famous”

  1. waiting_for_the_fall Says:

    The flippers are still out there.

  2. Alex Says:

    Hire me a few blond bimbos, get to wear skimpy bikinis and have em sit around the pool.

    Take some nice photos and videos.

    Market the house like Tom Vu.

    Profit!!

  3. SEA Says:

    Good find! I thank you, A Lewis.

    A 60% ($600k) loss in 4 years, or about $150k/yr.

    Ouch.

  4. SEA Says:

    Oh, and how about a total lack of over-bidding. I know that this is not the RBA, but from Zillow-

    The original 2008 listing amount: $1.6M
    Zestimate: $953,500

    From a $1.6M asking price to a sale of $0.4M?

    Who did this cheap hooker think she is, Heidi Fleiss?

    2008 Taxes paid: $2,204
    2009 Taxes paid: $12,529

    So the taxes went from under $200 per month to over $1,000 per month, and the adjustment downward won’t be immediate.

    And to think, people kvetch about paying an extra $25 for gas per week, yet they don’t seem to mind paying an extra $200 per week in property taxes.

  5. A. Lewis Says:

    Woo hoo, I made Guest Blogger!

    First, I think this house is really ugly. Second, I’ve watched it come on and off the market for years and it fascinates me. Third, I really love that listing history – the stories this house could tell! But it’s the realtor pics that make it a Burbed must.

  6. Zak Says:

    A. Lewis, this house certainly has a colorful past.

    Did you ever go to an open house for this place? Is the inside so messed up that the realtor did not add even a single picture?

  7. SEA Says:

    From Zillow: “OPEN HOUSE: SUNDAY MARCH 13TH, 2:00PM – 4:00 PM”

  8. nomadic Says:

    A., you have to go to the open house and report back! Please?


    I love the institutional look of that pool. Gray block is soooo attractive.

    The potential for this place is incredible. Just last week it was worth $400k and already it’s gone up to $549k! Amazing!

  9. The Gilroy Alex Says:

    #3, #4, brilliant. Who says there isn’t money in CA RE? Of course if you’re foolish enough to play, the money soon won’t be yours!

  10. sfbubblebuyer Says:

    Here’s a realtor that needs to get rid of their fancy camera a get a point and click model. How can you take so many out of focus pictures? Maybe the realtor was hoping enough “Moonlighting” of this house would make it attractive.

    There’s not enough vaseline in the world, guys.

  11. CB Says:

    I don’t know much about El Cerrito. Is it the poor man’s Berkeley or just the east bay’s San Mateo? Either way, it sure looks like a cluster f**k.

  12. Real Estater Says:

    We are in a solidly rebounding economy right now. The best days for real estate are ahead of us. The recent catastrophe in Japan actually provides an edge to the U.S. from an economic perspective, as our nearest competitor is distracted from normal operations. Would you buy a radioactive hybrid car from Japan right now?

  13. madhaus Says:

    Great find and write-up, #5! I second #8, you have to do an open house followup with pictures!

    And please keep the listings coming in from Berkeley North. You must have more foreclosures in Richmond than actual listings with a seller above water.

  14. Real Estater Says:

    >>I don’t know much about El Cerrito. Is it the poor man’s Berkeley or just the east bay’s San Mateo? Either way, it sure looks like a cluster f**k.

    Be kind. I think the author lives in that city.

  15. A. Lewis Says:

    I don’t know what San Mateo is like, so I can’t answer for sure, but SFH are cheaper in most parts of El Cerrito vs. most parts of Berkeley. Both of those towns have $3M+ estates, and $150k crack houses, depending on which neighborhood… This house is up in the hills. 900+ API elementary school. I’d say El Cerrito is kind of a slightly above average town for the Bay Area. Good BART access, but a lot of I-80 between you and any job centers. Decent street parking and reasonably sized lots.

    If there’s another open house, I’ll try to look in. Missed the one on the 13th, sorry.

  16. A. Lewis Says:

    #13 – there are lots of foreclosures in Richmond, to be sure. But the low-end of the market had most of the action in like 07-08. It’s been heavily purged and prices reset to really really low values there. You can probably get a good value in Richmond, if you wanted to live there for some reason.

    Prices up in the El Cerrito hills are falling slowly – the smart money is waiting, or pouncing on the rare low priced nice home.

    #12 – nope, you’re wrong. it’s a choppy, uneven, jobless recovery. With many many risks to the downside.

    #14 – thanks for the request to be kind! I think El Cerrito is a nice place to live, if you like being on this side of the Bay (which I do). We also have low transfer taxes!

  17. SEA Says:

    #12- “The best days for real estate are ahead of us.”

    Sounds like yet another bottom call.

    Will you get lucky this time?

  18. SEA Says:

    “Would you buy a radioactive hybrid car from Japan right now?”

    As if Mr. Boxster would have ever purchased a Japanese car. And Heaven forbid supporting American auto workers. I may be a fool, but the last new car I purchased was built in Fremont (NUMMI). Who’s supporting the Bay Area here?

  19. DreamT Says:

    too bad this site has degenerated into a daily pissing contest

  20. Juno Says:

    This part of the BA doesn’t get much sun. In the morning there’s either overcast or fog. By the time sunlight is out, it’s only a few hours until sunset. As already pointed out, there’s plenty of clutter and unclean neighborhoods. Richmond of course is the hood.

  21. A. Lewis Says:

    #19 – maybe, but too bad you only made it worse. Try contributing something funny – I bet you have a really biting, dry wit that could be highly entertaining. Seen any amusing listings lately?

  22. A. Lewis Says:

    #20 Compared to Palo Alto, EC gets less sun, yes. But we are not right in the fog path, we are on the edge of it. We got a satisfying amount of sun last year – and I get both morning and evening light a lot of days. Some are foggy, but not like SF in summer and not as much as Berkeley.

  23. PerfectAngel Says:

    We are in a solidly rebounding economy right now.
    —-

    We’re all clear for take-off.

    Oops, that was 2008.

  24. madhaus Says:

    That was also 2009 and 2010.

  25. DreamT Says:

    #21 – Ah A., I was reacting to the prior post. No, haven’t seen listings lately, amusing or otherwise, maybe I’m not bored enough. But thanks for the reminder to be funnier.

  26. SEA Says:

    Any guesses on 2012, 2013, 2014…

  27. nomadic Says:

    Any guesses on 2012, 2013, 2014…

    To infinity and beyond!

  28. madhaus Says:

    Now is ALWAYS the time to buy!

  29. Real Estater Says:

    WTF? We might get into another war?

    http://www.mercurynews.com/top-stories/ci_17639511

  30. Real Estater Says:

    This is totally wrong. Why is the UN taking sides in a civil war? If any government is attacked by insurgents, they will fight back, including our own government.

  31. Real Estater Says:

    If Gadhafi has no support, why do so many people fight for him? Obviously he has a support base within his country. It’s none of our business to intervene.

  32. PerfectAngel Says:

    Keeping the discussion, rationally, in real estate.

    If war starts, Gadhafi and his rich cronies will flee from Libya, come to RBA and start buying up houses. Good for RBA. I heard Gadhafi has a beautiful blond nurse-cum-mistress and she has a dog. Good for dog walk.

  33. SEA Says:

    For Mr. Radioactive Car:

    “According to the latest run of the GFS model, the air arriving in San Franciso tomorrow will have originated near the surface in northern Japan last Saturday, when radioactive emissions from the Fukushima nuclear plant began. The radioactive particles arriving in California will be in trace quantities, and will have no harmful effects on human health.”

    Source

  34. nomadic Says:

    It’s none of our business to intervene.

    Yeah, what’s a little genocide between countrymen?

    RE, if you saw someone getting mugged, or a little kid being beaten by his parent would you just walk away because “it’s none of your business?”

  35. Real Alex Says:

    #33. I doubt that. Gadhafi will be welcome here. Most likely USA will open gates for moustached boneheads with their huge families and beaten to crap wives wearing burqas. We need to more cab drivers. Let them in!

  36. madhaus Says:

    #34, you’re addressing #31, who “isn’t concerned about rape stats” because a rape rate “doesn’t really matter if you’re a man.”

  37. Real Estater Says:

    >>RE, if you saw someone getting mugged, or a little kid being beaten by his parent would you just walk away because “it’s none of your business?”

    Who is being mugged in international politics depends on your lens. During the US Civil War, who was mugging who? Was the North the thug or the South? Should Russia impose a no-fly zone over the US because there is a Civil War?

  38. nomadic Says:

    During the US Civil War, who was mugging who?

    You don’t see a difference? To paraphrase you from long ago, “you are not qualified to address me.”

    Both sides were armed in the American Civil War, with similar armaments. When one side has bombers (planes) and automatic weapons, and the other has sticks, rocks and maybe handguns, the story is a bit different.

  39. Real Estater Says:

    So what you’re saying is, the side with less weapons is always right?

  40. Real Estater Says:

    What happens if Texas independent guys stage an attack? Should we let them?

  41. nomadic Says:

    #39, no.

  42. SEA Says:

    #39- Isn’t there some story about the little guy winning?

  43. madhaus Says:

    #42, you misspelled “whining.”

  44. nomadic Says:

    #42, it would be like this kid shooting his attacker instead of just throwing him on the ground.

  45. A. Lewis Says:

    I don’t see another open house listed for this home. But if it comes up again, I’ll try to go!

    Did you see in the Zillow listing, they listed it briefly at $1.6M! The greedy dreamers are everywhere…

  46. anon Says:

    Heh. More like greedy bums. The only difference between many of these people behind WTF prices and the bums on the streets of san Francisco is that the bums have the decency to have reasonable expectations when they ask for something for nothing.

  47. nomadic Says:

    Now I understand where #30 is coming from.

  48. It’s Baaaaaaaaaaack! | Burbed.com Says:

    [...] Cast your mind waaaaaaay back to the dim past of March, 2011 (just think how much the Republican primary field has changed since then! And who would have bet the 49ers would have clinched their division?) and this thread: [...]


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