August 25, 2011

Nice house… Pass the PBR

Today’s featured house was toured, selected, and written up by Burbed reader Divasm.  Thanks very much for serving as Guest Blogger on Burbed!  Remember, if you have a great listing (and you know by “great” I actually mean “atrocious”), great photos, or a great price history, you can write it up and have fame and fortune by appearing on the front page!  Or you can send it the listing and have us muck it up for you!

Please give Divasm a big, warm Real Bay Area welcome.


Now that this house has sold I have an amusing story about our tour of it that I thought Burbed readers might enjoy.

 

926 STONY HILL Rd, Redwood City, CA 94061
Listed for $928,888, Sold for $847,000

image

BEDS: 3
BATHS: 2.5
SQ. FT.: 2,130
$/SQ. FT.: $398
LOT SIZE: 7,840 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: Bi/Split Level
VIEW: Neighborhood
YEAR BUILT: 1956
COMMUNITY: Farm Hills Estates
COUNTY: San Mateo
MLS#: 81111598
SOURCE: MLSListings
STATUS: Sold

Charming 3 bedroom, 2.5 bathroom home in Farm Hill Estates. Wonderful floor plan w/ large family room downstairs. Also includes master suite, eat-in kitchen, fireplaces in living room & family room and 2 car garage. Patio deck leads down to large back yard with beautiful park like setting. Within walking distance of award winning Roy Cloud School ((K-8th). Fresh paint.

My husband and I had an appointment with our Redfin agent to visit this house at 9am on a Sunday. It’s pretty apparent from the listing photos that this place is unoccupied, right? Well, sort of. We started our tour in the living room, and when we moved into the kitchen I noticed a pair of flipflops on the floor under the table. As we continue down the hallway, the first door is closed. I open it a crack and see somebody on the floor on a sleeping bag with a blanket pulled over their head!

stonyhillfoundationWe quickly decide to head outside and look at the backyard, giving the person time to perhaps wake up and regroup before we come back inside. As we are outside we notice a big crack in the foundation, which takes this “needs updates” house in a nice neighborhood past the realm of fixer upper (we looked under the house and could see signs of major shifting as well), especially at the listing price of $928K.

We go in and head downstairs, where we find a couple mattresses with sleeping bags, empty pizza boxes and some barely concealed bags containing Pabst Blue Ribbon cans (sorry, no photos of the contraband to show, we were stonyhillplayhousetoo busy laughing). Aha! It all becomes clear! The girl who once occupied that darling playhouse in the backyard has apparently grown up enough to throw a party in her childhood home, and forgot about the fact that her parents are actively trying to SELL the house.

We go back upstairs and my husband knocks on the closed door, pokes his head in and says that we’re going to look around upstairs and then leave. I hear several teenage girl giggles as he closes the door. He said he saw at least 3-4 girls in their PJs in the room, and a couple who wouldn’t take blankets off their heads…we finally deduce those must have been the BOYS. :)

Despite the shaky foundation and best efforts of teenage partiers, the house went pending a week later and sold very quickly after that – I’m assuming to an investor – and some private school teens were left without their PBR party hotspot. Awww.

Comments (14) -- Posted by: madhaus @ 5:05 am

14 Responses to “Nice house… Pass the PBR”

  1. madhaus Says:

    Another house where the whole world is tilting!

  2. sfbubblebuyer Says:

    That whole tract is picked clean right now. There were some SERIOUS crapfests that I was sure weren’t going to sell. Of course, the worst offenders have disappeared without being marked as ‘sold’ so I’m sure they’ll be back.

    Here’s a house for you in the general area, a short sale listed for less than the 1999 sale price. As you can see, this piping hot potato was passed many times before it decided to burn the bejeebus out of the current holders. That’s gonna leave a mark!

  3. Sam_Adu Says:

    #2:

    If the worst offenders you mentioned don’t hurry up and relist their properties they are going to be in for a world of pain once forgiven mortgage losses are treated as taxable again at the state and federal levels after the end of 2012.

    Nobody ever talks about this but imagine what will happen to housing prices once everyone realizes that they have to get their short-sale completed before 2012 comes to a close or risk getting socked with a 5-figure tax bill! Inventory is going to go up dramatically. Fun times are ahead!

  4. CB Says:

    Reminds me of 2005, where half the homes I toured in Fremont had a grandmother cooking Indian food in the kitchen while kids slept in their bedrooms, all during the weekend open house.

    It was almost a veiled insult, as if they were saying “you’re the buyer, and I’m the seller, so suck it.”

  5. nomadic Says:

    My favorite house viewing was back in Michigan. The people left the house like they just got sucked away in the Rapture or something. Dirty dishes in the sink; Cheerios & spilled milk all over the high chair and surrounding floor; and enough pubes on the master bathroom floor to knit a sweater.

    In Michigan – even back when things were pretty good – you were lucky to sell in 60 days. You couldn’t tell a buyer to suck it. Some people are just clueless.

  6. Divasm Says:

    Yeah I remember going to open houses during the crazy bubble in 2005, and seeing houses where there was an old couple cooking very fragrant ethnic food in the kitchen, meanwhile one of the bathroom showers was full to the brim with dirty clothes. But hey, it was a buyer’s market I guess. I just remember the look on the poor Realtard’s face, like, please overlook all of this and make a crazy high offer!!!

  7. The Gilroy Alex Says:

    Well, first it sounded like it had a DHO (dudes hanging out) number of 1, then woops maybe 3, but in the end it sounds indeterminate and higher than that.

  8. CB Says:

    I just remember the look on the poor Realtard’s face, like, please overlook all of this and make a crazy high offer!!!

    Thankfully my core protection mechanism was at least barely functioning at that time, enough to walk from those open houses.

    Another insulting open house run-in was during the same home hunt in 05, where the first thing we were told at the door by the Realtard was that the buyers commission would be on us, and the selling price did not include the 3% commission which the buyer was to pay the sellers agent out of pocket. I’m not sure if the later was even legal. I just remember the owner of the house, a bloated 60-ish old lady sitting in her arm chair as if it was attached to a gold mine.

    Hindsight. Why does it come so late?

  9. SEA Says:

    “and the selling price did not include the 3% commission which the buyer was to pay the sellers agent out of pocket.”

    Legal or not, cannot the agent simply adjust the selling price to net the desired amount? Maybe the REALTOR got stuck trying to compute the right selling price?

    I can almost hear it…

    “Uh, so you want $1,000,000, so I’ll add 6%, for a total of $1,060,000, but now the commission is 6% of $1,000,000 plus 6% of $60,000, so I’ll add another $3,600 to the asking price. But now I must add another 6% of that 6%, which was already 6%. This is going to take forever.

    What? Division by 0.94? Never heard of that.”

  10. Robert Says:

    I doubt it was bought by an investor; the investors I know seem to be aiming way down-market from houses like this on houses where rent might actually cover the payments.

    But the bad job at selling’s not at all surprising. When we were house-hunting back in 1999, we had one open house with the whole family hanging around all Sunday… including the sullen teen in the back bedroom. Needless to say, it didn’t make the house look any better (and it was badly remuddled as it was), but we drove past the open house for the house we eventually bought and still live in.

    And the weekend we did the roof inspection on our house, the dad in that bad open house decided to chase that same teenager around with a knife… and San Jose’s finest came to break up that touching scene of family values. We got to meet all the neighbors, and they strenuously insisted that such events weren’t normal.

    They were right, no other father-chasing-son-with-knife episodes in ten years, knock on wood.

  11. nomadic Says:

    My neighbor down the block – who is a realtard – tried to sell his house at peak pricing in 2009. During the open house, he had kids (his grandkids?) swimming in the backyard pool. The interior was also ten years past due for a major overhaul. He gave up trying to sell after a month or two.

  12. SEA Says:

    “investors I know seem to be aiming way down-market from houses like this on houses where rent might actually cover the payments.”

    This we are not so familiar with. We are much more familiar with the RBA, where the housing price appreciation takes care of everything. In fact, in the RBA, it’s expected that the cost of capital, measure in dollars per month, is much higher than the monthly rent. This suggests you have your money working for you.

    The cost of maintenance in the RBA, on the other hand, approximates zero.

  13. bmwman91 Says:

    #3
    “If the worst offenders you mentioned don’t hurry up and relist their properties they are going to be in for a world of pain once forgiven mortgage losses are treated as taxable again at the state and federal levels after the end of 2012.

    Nobody ever talks about this but imagine what will happen to housing prices once everyone realizes that they have to get their short-sale completed before 2012 comes to a close or risk getting socked with a 5-figure tax bill! Inventory is going to go up dramatically. Fun times are ahead! ”

    Is there some policy expiring then, or is this speculation about what will transpire after the election when the politicians stop kissing loan owner ass?

  14. Divasm Says:

    Holy Flippers Batman! It’s already back on the market a month later at 1.2mil!

    http://www.redfin.com/CA/Redwood-City/926-Stony-Hill-Rd-94061/home/1775543

    This makes my head spin, it doesn’t even look like the same street, much less yard or house. I hope they fixed the foundation issues, but maybe they’re depending on the wine and cheese during the open house to hide the sloping floors…


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