May 27, 2011

welcome this property permits unknown buyers to verify

Here’s this week’s find by Burbed reader Tracy.  It’s a house, I think.  It’s just not as big a house as it’s pretending to be.

1515 Pomona Ave, San Jose, CA 95110
$279,000

image

BEDS: 5
BATHS: 3
SQ. FT.: 2,225
$/SQ. FT.: $125
LOT SIZE: 8,033 Sq. Ft.
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1947
COMMUNITY: Central San Jose
COUNTY: Santa Clara
MLS#: 81120310
SOURCE: MLSListings
STATUS: Pending With Release
ON REDFIN: 17 days

welcome this property has 2 units 2/1 in front unit and 3/2 unit in back permits unknown buyers to verify. The property is a fixer upper .

Here’s what Tracy had to say about today’s house:

What’s behind the blue curtain? Worst photography, ever, all that’s missing is a man peeing. The property seems to have a very large unit in the back, with no permits…

At least the price seems right, as this place is a dump! But pictures of dirty laundry? Shame!

Piles of dirty laundry?  For real?

image

image

image

image

image

image

And you asked what’s behind the blue curtain, but do you dare open the door and see what’s behind that red one?  Wow, this house is in even better shape for the real estate photos than the two dudes chillin’.  I bet this place is in just as fabulous a neighborhood, too.

image

Also, piles of instant equity in this place for you to unlock; sold for $650,000 in 2005!  What are you waiting for?  I’m waiting to figure out how to view the house in the back with more bedrooms and maybe even some permits that unknown buyers are to verify!  Think they put away their laundry?

Comments (7) -- Posted by: madhaus @ 5:11 am

7 Responses to “welcome this property permits unknown buyers to verify”

  1. SEA Says:

    It’s so amazing how this place has gone down in value by more than 50%, yet in the same time the RBA has gone up by approximately 50%.

    Remember the days, back in 2005, when so many would have suggested that the seller was a fool. You know, property values are going ever higher, so you want to add to your property portfolio.

    $650k and dirty laundry everywhere.

  2. The Gilroy Alex Says:

    What a ghettotastic POS.

    Buy it now! Ride that sucker down to sub-$100k!

  3. sfbubblebuyer Says:

    What’s spattered up the door jamb?

  4. nomadic Says:

    …and all over the floors. Eww.

  5. DreamT Says:

    At this point you’d think it has to be malicious intent by the agent, or his computer got hacked…

    Either that, or they’re targeting the (narrow?) demographics of asocial geeks that go wild at the sight of unwashed laundry spread on the floor.

  6. SEA Says:

    First time home buyer discovers geometric sequence, and uses such to describe bounded nature of geometric series.

    This one makes me laugh. I was talking with a person who just purchased a house. He suggested that it was 50% off from the last sale price. When I asked what he expected to sell it for in the future, he suggested he was likely going to lose 50%, but his 50% was only half as big as the last seller’s loss.

    Then he goes on to explain how the 50% losses keep getting smaller, and, when asked, he agreed the total of all the price decreases can never exceed the peak sale price.

    ‘When the 50% loss was small enough, I went ahead and purchased.’

    Who knew that someone would be convinced 1/2 + 1/4 + 1/8 + … is bounded and equal to 1 based on housing prices?

  7. * Says:

    ^ interesting way to think about it.

    assuming total loss is bounded by two 50% losses spread out over 5 years.

    final_price = buy_price * 0.5 * 0.5 = 0.25 * buy_price

    so a 75% loss over 10 years would probably be a worst case scenario in a “normal” environment, excluding a depression/apocalypse.

    buy_prices & losses
    1. $200k house, $150k loss
    2. $400k house, $300k loss
    3. $800k house, $600k loss

    1. $150k loss. is an easy loss to take
    3. $600k loss. would require human sacrifice – probably the realtor that sold me the house
    2. $300k loss. the realtor would lose an appendage or two but i’d let them live.


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.)