July 2, 2012

Following Up on an RBA Foreclosure

It’s always fun to revisit a house that’s previously been given some Burbed love.  Today’s house is a foreclosure with an unpermitted garage conversion, exactly what you’d expect to find in Old Palo Alto.  Thanks very much to Burbed reader Wendie for today’s cognitive dissonance.

Palo Alto, CA 94301
$1,888,000, Reduced from $1,988,000 on 6/7/12
Reduced from $2,198,000 on 5/15/12


120701-coleridge-monaBEDS:  4
SQ. FT.:  2,235
$/SQ. FT.:  $845
LOT SIZE:  6,696 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Country English
COMMUNITY:  Old Palo Alto
COUNTY:  Santa Clara
MLS#:  81221385
SOURCE:  MLSListings
STATUS: Active
ON REDFIN:  25 days

Amasing 4 bd 4 ba in old town palo alto . newly remodeled with new presidential comp roof, new paint and fixtures, refinished hardwood floor, double pane windowes, stainles still appliances , lots of closets. garage had been converted to a family room and aditional room including full bath by the previous owner , permit unknown. this may not been included in sf. huge price reduction.

120701-coleridge-ivyHere’s what Wendie had to say about this house:

Didn’t you highlight this house a few months ago as a short sale? I think it was listed as 1.2 back then….

Why yes, we certainly did mention this house, but it was last September, and it was on bank auction list.


120701-coleridge-seller-is-agentBut back then the agent wasn’t mentioning all the excitement in the former garage!  And this house is just full of excitement.  A huge price reduction!  A foreclosure last October!  Yes, a foreclosure, not just in the Real Bay Area, but in Old Palo Alto.  Who knew that Larry Page could walk to a foreclosure in his own neighborhood?  (We would have said Steve Jobs, what with all the “walk to Steve Jobs’ house” comments about this neighborhood, but he could not walk to this house when it foreclosed as he passed away one week earlier.)

And if the garage and the price and famous dead neighbors isn’t enough excitement about this house for you, here is the icing on the cake.  You’d be buying the house from the agent herself.

Be sure to read all contracts carefully, because based on that listing copy, this may not be one of those agents who pays attention to silly little details.  Annoying little details such as spelling or capitalization or prices or whether a contract is actually signed.  And if you’re not a detail person either, then the two of you are a match made in heaven.  Or at least Old Palo Alto, which is practically the same thing.



Comments (9) -- Posted by: madhaus @ 5:05 am

9 Responses to “Following Up on an RBA Foreclosure”

  1. nomadic Says:

    Do you suppose this amasing (sic) agent did anything to this house to warrant even a little bit of the $600k markup she is seeking? More important, if she makes a tidy profit on this place, will she take more ESL classes?

  2. nomadic Says:

    The kitchen has been remodeled. The bathroom appears to have a new sink/vanity (the obnoxious blue tile must be old).

  3. madhaus Says:

    The kitchen has been remodeled.

    Yup it has! With stainles still appliances!

    She also mentions a “new presidential comp roof.” If that’s a Signature Roofing roof, the Presidential is their higher-end composite shingle, and my house has it too. It’s a 50 year roof and it cost around $15K when we had it done in the early oughts. This house is a two story, plus with the “rich owner in Palo Alto” markup, let’s say this roof must have run at least $30K.

    Now, this being Old Palo Alto and all, wonder why they didn’t spring for the TL Presidential.

  4. sonarrat Says:

    Sickens me that realtors this bad can afford homes like this, let alone remodel and flip them.

  5. Real Estater Says:

    >>A foreclosure last October! Yes, a foreclosure, not just in the Real Bay Area, but in Old Palo Alto.

    Be careful when realtors sell you on the “Old Palo Alto” label. Old Palo Alto is highly desirable, except when it’s on the boundary of Old Palo Alto, as in this case. The house is on Embarcadero Road!

  6. nomadic Says:

    So, just to clarify… you’re saying this isn’t Real(TM) Old Palo Alto?

  7. Real Estater Says:

    And priced accordingly. Real Old Palo Alto can’t be had for under $2M.

  8. Real Estater Says:

    Did everyone act on RE’s strong buy recommendation a week ago? There is plenty of upside ahead. Buy on strength. Buy with confidence. Buy on Margin. Buy now!

  9. Petsmart groomer Says:

    nomadic, don’t pay attention, he’s just trolling.

    I’m just glad the appliances aren’t going anywear.

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.)