September 5, 2011

How many 8s does it take to cancel a 4?

I’m delighted to invite Burbed reader Divasm back to the front page as today’s Guest Blogger.  Unlike all the many deluded sellers out there with wishing prices straight out of 2006, today’s home has had not one, but two price reductions since this piece was first sent in!

Please give Divasm a big, warm Real Bay Area welcome, with this rather, um, interesting-looking listing from SFO del Sur, or as it’s called on Google imageMaps, Millbrae!

One more thing: Yeah, I know it’s Labor Day today.  So what?  You should consider yourself fortunate if you still have a job.  Why the hell do you expect a day off, too?  Do you see THIS BLOG taking a day off?  Damned communists!  I’m sure there’s someone in an offshore telecenter someplace who’d be delighted to mangle most of your job responsibilities for eighty cents an hour.

Now get back to work!


200 PALM Ave, Millbrae, CA 94030
Was $1,488,888, then $1,148,888, now $1,098,888

image

BEDS: 3
BATHS: 2.5
SQ. FT.: 2,100
$/SQ. FT.: $523
LOT SIZE: 5,760 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Spanish
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1935
COMMUNITY: Highlands
COUNTY: San Mateo
MLS#: 81133416
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 35 days

Spanish style home with large master bedroom suite addition. Features family room , large yard , three car garage , large yard with deck. Dual paned windows, hardwood floors , close to downtown and schools.

photo 2I had the pleasure of visiting this million-plus-dollar mansion (well, 3/2.5, 2100 sq feet actually) recently at an open house. I had to see for myself if this abode in Millbrae, originally listed at 1,488,888 (recently lowered to $1,148,888) was really worth that much more than Zillow’s median of $933k.

imageWell, the bad news is there’s no bidet. But, the agent on site was quick to tell everyone that almost everything in the house is new or redone, and to prove it, there are blueprints and specs on the dining room table for your perusing pleasure, which prove that the teeny tiny kitchen you see in photo 5 of the listing (right) is actually new!

photo 3And that spacious backyard? State of the art basketball court, look for yourself! But even better, they don’t even mention that the utility room doubles as an office!

photo 4

It’s clearly a mystery why this place hasn’t sold yet, especially with all those 8s in the price…unless…it’s the 4! Everyone knows 4s are very bad luck, if they just raise the price to $1,888,888, it should move immediately. That’s my prediction, you heard it here first.

image

Update: Hey, price just went down again on this house – it’s now 1,098,888. Two price reductions in a month! It would have been so much better if it had stayed at 1,488,888 though, that’s just obscene.

photo 1

Comments (15) -- Posted by: madhaus @ 5:09 am

15 Responses to “How many 8s does it take to cancel a 4?”

  1. The Gilroy Alex Says:

    They missed their chance to sell it at $1,888,888.88

  2. Petsmart groomer Says:

    On Labor Day, two jobs better than none.

    For Labor Day, Henderson plans on celebrating. He’ll be off from both jobs and hopes to barbecue at home with his family.

  3. The Gilroy Alex Says:

    I read the article, ouch. What a way to live. And these stores etc all do this now, hire people for these weird, irregular hours. 16 hours a week at one place, 10 at another, etc.

  4. SEA Says:

    What’s with all these listing ‘mistakes’ where an extra digit is added?

    $11,488,888 … oops, did I add an extra 1 to the front? What’s an extra $10M?

    Please allow me to fix that…

  5. madhaus Says:

    Did you catch this line?

    “I’m a dishwasher — slash janitor — slash cook in training,” said Mark Henderson. He’s 41 and holds down two part-time jobs at a Chili’s restaurant and Dollar Tree discount store, working up to 60 hours a week. His three grown children live with him at home, go to school or work minimum-wage jobs of their own.

    We own our house, but the bills, including school expenses for my daughter, just keep coming,” said Henderson, who lost a full-time job at an Applebee’s restaurant. “So after looking six months for a full-time job and not finding anything, I’ve had to take these two to provide for my family.”

    I doubt he owns his house. Not many 41 year olds in this county have paid off the mortgage. The bank owns his house, and and the house, in turn, owns Mark.

  6. The Gilroy Alex Says:

    Yep it’s just another prole parroting back the brainwashing. You own 5% equity in a house and owe the bank your lifeblood for the next 20 years and you think you own the house. Indeed the bank owns you.

    Mark Henderson could have his house paid off, if he’s smart he does, it’s not impossible.

    But he’s going high-school-student jobs! That’s what’s so eerie about this Depression we’re in; a given newspaper boy or grocery bagger is in competition with his own parents for that job.

  7. nomadic Says:

    #5, aren’t you a cynic? I would have assumed he inherited his house from his parents. That’s the way to own a home free & clear in the Bay Area – at least if you don’t have a high-falutin’ tech job.

    #6, you’re absolutely right. It’s frightening how many “grown ups” are doing jobs that you’d expect a typical high school student to have. I think this area has two job markets: the one RE likes to tout (where someone with the right technical skills can quit a job today and have a new one next week) and the one for everyone else who doesn’t have those specialized skills. Of course there are varying levels to the second version, but it’s far more competitive.

  8. Sam_Adu Says:

    That article is just frightening…and totally realistic. Thanks for the sobering article of the day. Lets get back to the brick schiessehauser of the RBA as my Ghanianian friends would call them.

  9. The Gilroy Alex Says:

    I had to make a dash to Home Despot today for a PVC butt joint, and the gal at the register told me the contractors are taking the day off but the home-owners are all in getting stuff. Not that I own this place, but I do home-owner type work on stuff here.

    Labor Day = LABOR for home-owners (and the sea of homedebtors they’re surrounded by).

  10. madhaus Says:

    I think this house is far more hideous than the Butte-ugly one.

  11. MS Says:

    Millbrae used to be the kind of place a 41-yo grampa could have a house paid off.
    Oh wait, I mean Newark.
    Millbrae isn’t North Burlingame anymore than 94063 is West Atherton.
    What is driving up prices here?

  12. Divasm Says:

    Millbrae is now Cupertino North. It has highly ranked schools, plus when I was at this open house I saw two different men in suits walking through while speaking Mandarin on their Bluetooth headsets – presumably to overseas investors.

  13. nomadic Says:

    Divasm, were they carrying suitcases handcuffed to their wrists? They should have suitcases FULL of cash!

  14. madhaus Says:

    Divasm, Millbrae can’t be Cupertino North. Their school district isn’t in Program Improvement yet.

    (I obviously need an expert to explain some of these rules. Millbrae met 27 of 29 AYP criteria, did not meet English or Math criteria for 2011, yet is not in PI. Why not? Is it because only one school gets Title I money and it made its targets? Is it because PI kicks in after the second year of missing targets? Anyway, no individual school of the 4 elementary and one middle missed their targets.)

  15. SEA Says:

    Given the current trend, it won’t be long before gold is worth more than $100 bills, given equal weight.


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