June 7, 2011

TOO MANY UPGRADES TO LIST

Here’s another find from Burbed reader Petsmart Groomer, from the prestigious “almost Palo Alto and next to the same train tracks” neighborhood.

2380 ADELE Ave, Mountain View, CA 94043

image

BEDS: 3
BATHS: 2
SQ. FT.: 1,334
$/SQ. FT.: $621
LOT SIZE: 6,000 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 1
YEAR BUILT: 1956
COMMUNITY: Thompson
COUNTY: Santa Clara
MLS#: 81109726
SOURCE: MLSListings
STATUS: Pending With Release
ON REDFIN: 91 days

Bright & Spacious with open floor plan. Newer paint interior & exterior. Newer Garage door. Newer double door. Remodeled kitchen with Granite Countertop. Stainless Steel Appliances & Refrigerator. Newer sliding door to backyard. Refinish Hardwood floors throughout the house. Cozy Fireplace in Living room. Beautiful private Backyard. TOO MANY UPGRADES TO LIST. OPEN-HOUSE 5/22/2011 from 1-4pm

imageI hope you caught that they expect the seller buyer to refinish the hardwood floors throughout the house.  (That was an order, right?)  For $829K you can’t have everything.

Here’s something else they didn’t list: sold for $950K with overbidding, just 3 years ago!  Now the asking price is closer to the 2004 sale price.

image

How high did the overbidding go this round?  And why won’t anyone stay in this house more than 4 years?  Is it a Presidential Campaign stop?  Buy this house, and sell it with overbidding in 2016!

Comments (43) -- Posted by: madhaus @ 5:06 am

43 Responses to “TOO MANY UPGRADES TO LIST”

  1. z2amiller Says:

    Yay my new house is on burbed! (It really is quite nice)

  2. nomadic Says:

    It’s for sale a year early! New buyers can’t close until June 8-12, 2012… ;-)

  3. SEA Says:

    Latest Zuckerberg News: ‘cutting the throats of goats, which is the most kind way to do it.’

  4. sfbubblebuyer Says:

    Did we get an actual buyer who reads burbed see their house show up? I’m JEALOUS! My house never made it on burbed. :(

  5. z2amiller Says:

    Yep, actual buyer of this house and reader of Burbed. I should find out today about the appraisal and whether or not the bank will underwrite the loan. Since it gets sold every 4 years in June, I am operating under the assumption it is haunted. I hope that does not affect the appraisal too much.

    I am guessing it is selling after only three years this cycle because the presidential campaigning starts so much earlier these days. I’m currently accepting overbids for the 2016 presidential season. When bidding, please keep in mind the instant equity I’ve captured from the 2008 sale.

  6. The Gilroy Alex Says:

    “Stainless steel appliances …. and refrigerator” wow fer thet price yew get a reefergator tew!

  7. SEA Says:

    “Since it gets sold every 4 years in June, I am operating under the assumption it is haunted.”

    I’ve asked why some homes seem to get sold much more frequently than others.

    “I’m currently accepting overbids for the 2016 presidential season.”

    A+

    “When bidding, please keep in mind the instant equity I’ve captured from the 2008 sale.”

    That’s exactly right! That’s your instant equity, not the next buyers.

    Everyone should realize that the 2008 price should be used for the automatic double–in this case it’s probably more like every eight years.

  8. madhaus Says:

    This is awesome, #1/5, a Burbed reader who admits it’s their house in the pictures. Actually the only snarky thing I could think of in the pictures was that the photographs all have this odd greenish tinge to them. Maybe that was on purpose, the realtard was suggesting how much money you would make buying this place.

    Also I said “seller” when I meant buyer, which I am about to fix in the article. So lucky you #1/5, you get to refinish those hardwood floors if this thing appraises.

    And one more update, yesterday’s house is going to get two new pictures from nomadic’s drive-by, so watch for “updated” in the title. I hope to get that out within the hour.

  9. Ryan Says:

    What’s with all the “newer” anyway?

    Realatard: It’s not a new paint job, but it’s newer than the last paint job.

    Buyer: That’s great. I hate it when the last owners try to scrape off the last layer of paint and take it with them.

  10. sfbubblebuyer Says:

    Zillow breathlessly tells me that my house’s zestimate went up by .7% this month! I can only assume they are pathological liars.

    I will post when my zestimate drops below the 2009 purchase price (pre stimulus purchase.)

  11. nomadic Says:

    That’s great, sfbb. I will post when my Zestimate goes above the 2005 purchase price. If the internet hasn’t been replaced with neural networks or something by then…

  12. madhaus Says:

    Hey, my Zestimate is above my 1993 purchase price… still…

    Yesterday’s pipe-dream/spec house/whatever disaster has been updated with nomadic’s new pictures. Take a look.

  13. sfbubblebuyer Says:

    Regarding Serfs and Real Estate, I believe this game captures the bay area housing fairly well : http://www.homestarrunner.com/trogdor.html

  14. sfbubblebuyer Says:

    #11: It appears we are at odds, with zestimates on opposite sides. Fortunately, Zillow is so wildly inaccurate on their estimates that we could easily both get our wishes!

  15. z2amiller Says:

    Yes, for me to refinish the hardwood floor is actually in the contract. They’re very insistent. Perhaps it is one of the demands by the ghosts that inhabit this property to release the curse on the seller.

    Braaaazzziiiiiiliaaaannn Cheeerrrryyyyyyyyy ooooOOOOoooonnnlyyyyyy

    I guess the granite countertops were put in by the current seller for the same reason?

  16. nomadic Says:

    Or, #15, if have the floors sanded with one of those machines that vacuums up the dust as it’s created, it will suck up your ghosts too!

    Who you gonna call? Ghostbusters!

  17. madhaus Says:

    I thought the Ghostbusters were in the portal to hell in this basement. You mean you need them too?

  18. z2amiller Says:

    So THAT’S why none of the homes out here have basements.

  19. sfbubblebuyer Says:

    #18: It bugs the hell out of me. I grew up in Montana, and EVERYBODY had basements because otherwise the ground would freeze up and spit your house out like a wad of over-chewed gum. But in Cali, especially the bay area, the cheapest damn foundation you can get away with is the norm. Skinny little perimeters sunk a whole foot and a half into the ground or the thinnest slab they could manage is about all you’ll find.

  20. z2amiller Says:

    @sfbubblebuyer, I have to agree with you about the basement thing. I grew up in Michigan, and aside from the fact that the median SFH in Mountain View costs more than any house in a 100 mile radius from where I grew up, I am also bothered about the lack of basements here.

    Apparently there are too many portals to hell lurking just beneath the soil to risk it.

  21. Real Estater Says:

    What are you guys talking about? Most of the homes around me have either partial or full basements. Due to the cost of land, virtually all of the new homes are built with 3 levels.

  22. Real Estater Says:

    Bernanke: Economy slowing but faster growth ahead

    This is a great opportunity to buy into the dip.

  23. nomadic Says:

    Yeah, what are you talking about? I don’t have a basement, but some of the rebuilt houses around me have them, so that means everyone should. (I don’t because I want to make sure I have the crappiest house in the area and maximize the profits for my kids after I die in my house. But then they have to disclose that, which might hurt the value, so maybe I’ll drag myself off my deathbed and die in the street. Just like they do in EPA!) And even though everyone has basements, people have so much stuff (to keep up with the Joneses), the garage is too full to actually park cars in it. Or rather, ONE car, because land is far to valuable to waste on garage space! That actually works great too because then I can leave my Porsche parked out front to show everyone who drives by (and sees my house on the wrong side of the street) that I have a prestige auto-mo-bile. The haters be hatin’ my success!

    blah
    blah
    blah

  24. Real Estater Says:

    Nomadic,

    It’s remarkable how much you have learned from me.

  25. Petsmart groomer Says:

    Real Estater always reminds me of this.

  26. nomadic Says:

    RE, it’s remarkable how much you amuse me.

  27. SEA Says:

    blah
    blah
    blah

    Of course that was learned from a real estate professional! It could not possibly be any other way.

  28. madhaus Says:

    #26, WE are not amused.

  29. Kumar Estater Says:

    Real Estater always reminds me of this.
    —-

    The Trophy Wife in this Harold and Kumar video looks younger enough. How much younger? 7 years?

  30. madhaus Says:

    SOLD!!!! for list price on 6/24/11.

  31. SEA Says:

    No over-bidding? WTF!

    And what’s with redfin’s “Appreciation?” Note it’s left blank for losses.

    $120k loss in three years on a base of $950k. A simple computation would suggest that’s a little over 4% per year. Instead of recovering the interest paid, plus some, the last owner paid the interest and took a loss. Ouch!

  32. Petsmart groomer Says:

    Congratulations Jacy Truong for a job well done!

  33. z2amiller Says:

    @SEA: Not only that, but she put money into the house too — Kitchen upgrades ( granite counters, stainless steel appliances), adding 100 doors (some of which may open to hell), some work in the bathrooms… So I have even more instant equity than what shows on Redfin. Bidding is open.

    I’m not kidding about the doors. Each one was left with whatever lockset it came with. When I went to “pick up my keys!”, here is what I was faced with:

    http://a2.sphotos.ak.fbcdn.net/hphotos-ak-ash4/270838_10150345496698677_694438676_10287290_6582777_n.jpg

    Almost every lock is a different brand. (Including deadbolt and knob on the same door) So I’ll probably end up spending about $500 on locks just to get them all keyed the same.

    More fun that I’ve had with the house (And I haven’t even come close to moving in yet!)

    – Replaced a ceiling light fixture that was installed on the wall about 6 inches above the floor, complete with empty light socket at the perfect height for an infant to stick their fingers in!

    – Said light fixture measured 120V with the switch on, 46V with the switch off, 11V with the breaker off and the switch on, and 0V with the switch and breaker off! Good thing I had a multimeter with me!

    – While replacing said light figure with a blanking plate, smelled natural gas, called PG&E. PG&E found three natural gas leaks, including the one from the gas starter in the fireplace that the neighborhood handyman had apparently installed out of mismatched spare parts he had laying around. Because safe transport of natural gas is no big deal, especially near a fireplace.

    – While PG&E was there, had three instances of “Didn’t you hire a home inspector? Why didn’t he catch X, this is totally wrong”

    – Seller hired (maybe the same?) neighborhood handyman to patch nailholes and stuff in the wall. That was sweet of her, except for the part where the handyman covered the patches with paint he found in the garage that was originally used to paint the walls. 5+ years ago. So now there are 10+ patches on every wall covered with a square foot of paint that is completely different color than the rest of the wall. So add another $2-3k to the purchase price for painting.

    – Seller helpfully left behind all of the mismatched paint in the garage, just in case I want to mess up more of the walls, and/or want to deal with disposing of several gallons of hazardous liquid waste.

    – Seller helpfully left behind about 50 lightbulbs, but no Drano.

  34. madhaus Says:

    #33: Post of the week!

  35. SEA Says:

    Along with the story, the photo of the keys is excellent.

    As far as your voltage measurements, never trust a FET based multimeter for house wiring. I personally prefer using a Wiggy, but I have an older Simpson (D’Arsonval movement) that works great too. My guess is that the Wiggy wouldn’t respond to 11 volts, but that’s low enough that it doesn’t matter.

    The joys of ownership…

  36. nomadic Says:

    z2amiller, thank you for that fun story! More proof that every house in the bay area is a fixer upper. And to think I thought it was bad that every water shut-off valve to the bathroom sinks in my house leaked when I moved in… and half of the lightbulbs were missing.

    How do you fit so many doors in a 1334sf house?

    About that home inspector – was he hired by you or the seller? Scary.

  37. z2amiller Says:

    Re: the multimeter, I don’t know if it is a FET multimeter, but it is a Fluke brand digital so supposedly pretty good. I’m not sure where the circuit is picking up the stray voltage – not sure if they did something dumb like connect the ground to another circuit’s neutral, or if there’s just a bunch of romex all twisted together picking up voltage via induction or what. I’m almost afraid to ask a qualified electrician because of what I might find. (And the disclosures are always “Does the Seller KNOW OF ANY xxxyyyzzz” — ignorance is bliss!) When I said “the breaker off”, I meant a breaker for an entirely different part of the house, by the way. With just the breaker that controlled that switch turned off, it was ast 46V, same as with the switch off.

    So as for doors in this house, counting the double french doors as two doors (Because hey, that makes a better story), there are 8 doors that lead to the outside. Add on the closet, bedroom, and bathroom doors, and there are a total of 19 doors in the house.

    The inspector was paid by the seller, but it was done by a reputable company so my agent told me not to bother with my own inspection. I suppose it is somewhat minor stuff that the PG&E guy pointed out, but it is stuff they’re paid to catch and makes me worry about other things that were missed.

    OH! And termites. The original inspection mentioned some termites in the garage in a couple places. I had the inspector come back out and it turns out that parts of the garage are pretty chewed up. So in some ways, I did overbid for the property. :-)

  38. GimmeShelter Says:

    Welcome to Monta Loma, z2amiller! It’s actually a great neighborhood-we’ve been there 11 years. But the homes are full of, um, idiosyncrasies. Or as our contractor told us when we remodeled, “there ain’t a right angle anywhere in this house!”

    On a personal note, I’ve always wondered how I’d react if (cringe) my property was featured on Burbed. God forbid it ever happens, but if it does, I think you set the standard by copping to it gracefully!

  39. Petsmart groomer Says:

    Considering how people seem to react when their houses are featured on Dwell, I like z2amiller’s attitude better :-)

  40. dollarbin Says:

    That place is cute. And if you ever get tired of it and all of its keys you can erroneously list it as an Eichler, like these flipper neighbors over on Hamilton:
    http://www.redfin.com/CA/Mountain-View/155-Hamilton-Ave-94043/home/610226

    previous listing:
    http://www.redfin.com/CA/Mountain-View/155-Hamilton-Ave-94043/home/610226/mlsListings-81134364

  41. madhaus Says:

    dollarbin, I had no idea you could resurrect old listings that way on Redfin. Pure awesomeness. Plus another Burbed reader already sent that house in for the front-page treatment, so now I can use the old listing as well. Most excellent and much obliged!

  42. The Washer Dryer and Refrig stay [Burbed.com] Says:

    […] the long road to homeloanership.  You all remember z2amiller, don’t you?  First burbed reader who admitted, and thus earned this […]

  43. Adventures in Homeloanership: A Special Report! [Burbed.com] Says:

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