July 16, 2012

Lions and Tigers and Bears — Oh My

For some reason, Mountain View seems to be Ground Zero for this website.  Sure, we get plenty of listings in other cities, but for a place with a population of 75,000, Mountain View sure gets a lot of Burbed Love.  And we’ve got some more for you today, thanks very much to Burbed reader Erin.  Let’s take a walk on the wild side… at least as far as the inside of today’s house is concerned.

976 Burgoyne St
Mountain View, CA 94043
$849,000

120715-burgoyne-intero

120715-burgoyne-couchWell appointed 5 year old home single level home. Open floorplan with designer touches and upgrades throughout. large living room with fireplace and door to a side yard, Chef kitchen with ample cabinet and counter space, generous size master suite w/ doors to the backyard, natural lighting, hardwood floors throughout, attached garage and large private backyard. A very nice home.

3 bedrooms  |  2 bathrooms
Neighborhood: North Shoreline (203)
Property details
Appliance: 1 Dishwasher, Disposal, Dryer, 1 Refrigerator, Microwave Oven, Self Cleaning Oven, Washer, Window Coverings, Built-In Oven/Range Combo
Architecture Style: Ranch
Cooling System: Central Air Conditioning
County: Santa Clara
120715-burgoyne-fireplaceExterior Type: Stucco Exterior
Fireplace: Fireplace in Living Room, Gas Log Only Fireplace
Floor Covering: Hardwood
Heating System: Central Forced Air Heat, Gas Heat
Horse Property: No
Lot Size: 5670.0000
MLS#: 81225685
Num Floors: 1
Parking Type: Attached, Electric Door or Gate Opener, 1 Car Garage
Pool: No Pool
Roof Type: Composition Roof
Square Feet: 1346
Status: Active
Type: Single Family Detached
View Type: Neighborhood View
Water: City/Public Water
Year Built: 2007
Zoning: R1

120715-burgoyne-diningWe’re still a little peeved with Redfin for not linking back to us of late, so we’ve been using whatever sites our contributors send us.  But here’s the Redfin link if you find the Intero site a little too busy.  Do feel free to let Redfin know if you find links to our articles useful.

Anyway, back to today’s house.  Here’s why Erin sent it in:

Someone should write a post on this charmer for all the taxidermy enthusiasts out there, who are well-known to live in Mountain View.  See how many rooms you can find with dead animals on the walls!

120715-burgoyne-wtfDesigner touches!

Like this room.  We have to include it because we haven’t had enough opportunities to break out the Burbed Good Housekeeping Tag of Approval.

A very nice home.

 

Comments (41) -- Posted by: madhaus @ 5:10 am

41 Responses to “Lions and Tigers and Bears — Oh My”

  1. z2amiller Says:

    Gah, apparently the current owners are moving into a place with more storage space, since every square foot along the walls seems to be taken up with crap? The photo of the office is downright scary (pic number 15 on R*df*n) I guess you can tell the market is getting hot if the seller is no longer even bothered to get their house clean and in shape for the realtor photos.

  2. SEA Says:

    Let’s talk profit!

    “Jul 10, 2012 Listed (Active) $849,000
    May 16, 2007 Sold (Public Records) $690,000″

    Now you might be thinking this is “close to” RBA, but not “too close to” the RBA, since the listing price is greater than the purchase price. But that’s REALTOR profit, which does not consider other factors.

    Please note, “Lender Approval Required/Short Sale,” also “Year Built: 2007″

    The value was in the land?

  3. madhaus Says:

    Thanks, SEA. I’ll add the short sale tag. I can’t find any mention of the home being a short sale on the Intero site. Guess that’s why we usually link to Redfin in the first place.

  4. nomadic Says:

    I would need a big bottle of sedatives to live there. Not because of the dead animals, but the freakin’ clutter! Why are short sales always so messy? They’re hoping to keep the equity they sucked out and get a free pass on defaulting. Why not clean up to try to get the best price possible in exchange for the bank’s cooperation?

  5. SEA Says:

    As mentioned, you added the “good housekeeping” tag, but since it’s mainly for the garage, shouldn’t the tag be “good garage-keeping,” which really means, “keeping the Boxster on the street.”

  6. gallileo Says:

    Is there a bonus DHO tag if the DHOs are dead animals?

  7. mabeldu Says:

    rats! i was going to send in this fun house of horror, but someone beat me to it. plus, there must be rats on the walls with the other dead bodies, or plenty running around in all that crap.

    4 (!) pix of toilets. i normally roll my eyes at the ridiculous toilet pix, but with 4 highlights of the 2 thrones i guess this house is extra Special.

    $850k is a stretch for that street with that school district. but… MTV is hot, hot, hot! so who knows what price it’ll fetch. assuming you can train the rats to fetch.

  8. SiO2 Says:

    OT – but – too good to keep.

    Burbed’s hit the big time. Bloomberg referenced burbed.com!

    http://finance.yahoo.com/news/zuckerbergs-loan-gives-meaning-1-040001347.html

  9. nomadic Says:

    Great find! Cool!

    I wonder if Zuck could call Geithner for an adjustment if he feels the LIBOR is getting too high?

  10. SEA Says:

    #8- “The Facebook Inc. (FB) founder refinanced a $5.95 million mortgage on his Palo Alto, California, home with a 30-year adjustable-rate loan starting at 1.05 percent, according to public records for the property.”

    ~$5,200 per month in interest for $5.95M? No wonder the housing market is so “hot, hot, hot.”

    With all that free money, is it a better time to buy or sell? That’s right: NOW is the right time to buy, as always.

    And remember, it’s not a question of if but rather when interest rates go higher. A 20% increase from 1.05% is only 21 basis points [1.05% -> 1.26%]. It’s not likely that we will hear Zuckerberg complain, but that extra cost will put too many into a tailspin, yet they will say that they never saw it coming. Old men?

  11. nomadic Says:

    I wonder which LIBOR the mortgage is based on. For common folk, it is often the 1-year LIBOR, currently at 1.07%, which means his first month rate was a teaser that would go up to 1.87% in the 2nd month. The one-month LIBOR hasn’t shifted since he got the loan; he’s probably “special” enough for that.

  12. Divasm Says:

    Nice find on the Yahoo! article. I wonder why Zuck even has a mortgage, why not buy it outright? Oh wait, because his stock isn’t worth as much as they thought it was…

  13. Real Estater Says:

    It’s amusing that there are people here who, instead of riding the free money, worry about interest rate going up!

  14. Mole Man Says:

    Interest rates going up are a good thing, especially since they are currently approximating zero. It is common to think that low interest rates enable good real estate values, but the market takes that into account so that prices rise to close any gap opened up by low rates. It is also worth noting that these low rates are only available to those who qualify in this more difficult environment. Perhaps most important is that historically the bottom of a property bubble is never found until interest rates start going up. Rough road ahead!

  15. nomadic Says:

    Who’s worried? Even you, Mr. Look-at-the-Long-Term, has to admit rates will go up someday. It’s only a question of when. I don’t think there will be substantial rate increases for at least another 4-5 years unless a major world event moves the economy off our current trajectory.

    I believe I mentioned awhile back that I still have an adjustable rate mortgage, while you said that was a bad idea. If I was worried about what rates were going to do in the short term, I’d have locked in to a fixed rate like you.

  16. SEA Says:

    I’d rather have an adjustable rate mortgage when rates are at historic highs, rather than lows. That said, rates have remained low, and low rates have gone even lower, all while there were so many suggesting, “Buy now before rates go up tomorrow.”

    All of that said, I am more concerned about the impact on housing prices more than the added interest expense for existing borrowers.

    Yes, yes, none of this applies to the RBA, where interest rates don’t matter, and even if rates did matter, the RBA is special enough that it won’t matter. It will be interesting to see what happens to those properties that are “very close,” but not “very, very close” to the RBA.

  17. Real Estater Says:

    nomadic says,

    >>Mr. Look-at-the-Long-Term, has to admit rates will go up someday. It’s only a question of when.

    The moment you lock in your low, it doesn’t matter anymore. Because you have already won.

    >>I believe I mentioned awhile back that I still have an adjustable rate mortgage, while you said that was a bad idea.

    It is a bad idea. Even SEA sees it. What you’re saying is you are waiting for the inevitable. In other words, you admit that you are trading short term gain for long term loss.

  18. Real Estater Says:

    SEA says,

    >>Yes, yes, none of this applies to the RBA, where interest rates don’t matter, and even if rates did matter, the RBA is special enough that it won’t matter.

    By the time it happens, property prices would have already risen to a level such that even if there is some give-back, the retreat would be inconsequential. You need to win now, not 5 years later.

    >>It will be interesting to see what happens to those properties that are “very close,” but not “very, very close” to the RBA.

    RBA is very near capacity. When that happens, overflow to neighboring cities will make those areas more desirable. This is why I am bullish on cities like Santa Clara, Campbell, and West San Jose.

  19. Sunny(vale) Kim Says:

    In other words, you admit that you are trading short term gain for long term loss.
    —-

    That makes Real Estater smarter than Zuckerberg. That would be quite unusual.

  20. nomadic Says:

    It is a bad idea.

    Tell that to Zuck. Your viewpoint is always one size fits all; that’s why you get mocked here.

  21. Real Estater Says:

    My model does not fit Zuck, but only the other 99 percenters. That’s your basis for mocking?

  22. Sunny(vale) Kim Says:

    My model does not fit Zuck, but only the other 99 percenters.
    —-

    Your model, if any, would fit hamster. Not 99% people.

  23. Crissa Says:

    The problem with an adjustable rate mortgage is making sure you get one without things like balloons or points adjustments in the future. They’re just rent-seeking by the banks.

    Heck, I personally know several people who were jacked by the bank upping their rate while the prime rate went down… They signed stupid mortgages, but there is a limit to what kind of stupidity should be offered for sale. We label poisons, after all.

  24. nomadic Says:

    They signed stupid mortgages, but there is a limit to what kind of stupidity should be offered for sale.

    Agreed. That still doesn’t mean all ARMs aren’t good for anyone, #20.

    BTW, most (or just “many?”) adjustable mortgages aren’t pegged to the prime rate. Check out all the LIBOR fun in the news.

  25. SEA Says:

    “The moment you lock in your low, it doesn’t matter anymore. Because you have already won.”

    Except housing prices can, and have, gone down.

    “By the time it happens, property prices would have already risen to a level such that even if there is some give-back, the retreat would be inconsequential.”

    Tell that to all those people who have experienced foreclosure, where the market value is below what’s owed.

    “You need to win now, not 5 years later.”

    Many people would like to go back 5 years and sell. That’s when it was time to win. That said, I’m not sure how one can “win now.” How does one “win now?”

  26. SEA Says:

    “Heck, I personally know several people who were jacked by the bank upping their rate while the prime rate went down… They signed stupid mortgages, but there is a limit to what kind of stupidity should be offered for sale. We label poisons, after all.”

    It never ceases to amaze me how $500k is not a lot of money until the interest rate goes up 0.01%. You know, $500k homes are “cheap,” but an extra $5 in interest each month is “expensive.”

  27. SV Shopper Says:

    People got in trouble because they did not have a fixed rate. They bought something that they could only afford at the teaser rate. It was stupid of those people to make such a mistake. It would be stupider for anyone to make the same mistake again after seeing what happened.

  28. nomadic Says:

    True, #26, but stupidity is sticky (and RE prices only go up!). The next round of fools will rely on the government to protect them via the sweeping reforms meant to prevent a recurrence. (snicker)

  29. SEA Says:

    Remember the days when those “stupid people” were talking about “rentards” being priced out forever?

  30. Sunny(vale) Kim Says:

    They bought something that they could only afford at the teaser rate.
    —-

    Rule #1: “Home price only goes up”

    Rule #2: “You can always refinance when rate goes up”.

  31. Real Estater Says:

    Pralay,

    You calling yourself a hamster?

  32. Real Estater Says:

    >>Remember the days when those “stupid people” were talking about “rentards” being priced out forever?

    Some things, even stupid people know.

  33. Real Estater Says:

    >>Rule #2: “You can always refinance when rate goes up

    LOL. Refinance to a higher rate? Do you ask your boss for a pay decrease too?

  34. SEA Says:

    #31- Tell me about it.

  35. Sunny(vale) Kim Says:

    You calling yourself a hamster?
    —–

    Logical fallacy.

  36. Sunny(vale) Kim Says:

    Refinance to a higher rate?
    —-

    Another logical fallacy.

  37. Crissa Says:

    Well, yes, refinance at a higher rate but otherwise better terms. It can be done, after all, banks will compete a bit for someone paying in good standing.

  38. Crissa Says:

    Of course, if the equity in your home drops, the bank would rather take it than negotiate with you. I’m not sure the logic in it, since apparently they assume someone is going to continue paying at the higher rate rather than just jump ship and make them realize the loss.

    We should make it so banks must realize the loss either way, then they’d be a bit more circumspect about the mortgages they held.

  39. madhaus Says:

    I cannot tell you all how many times I was tempted to call a weekend open thread “Rates that couldn’t possibly go any lower go lower”… yeah, again.

    #18, I would hate to have to put you in the moderation queue for that bait shop.

  40. Real Estater Says:

    Rates can certainly go lower. This is one of those rare circumstances when the local economy is booming and yet rates are dropping. The homeowner gets to have the cake and eat it too, over and over.

  41. madhaus Says:

    Comment #14 rescued from spam queue, which means any reference to a post number >14 should be incremented by 1.


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