January 18, 2013

NEVER BEFORE ON THE MARKET

Burbed got its start almost seven years ago, featuring very expensive houses in very questionable locations in very poor repair.  But housing win isn’t all crapboxes and open potties and questionable listing copy.  Sometimes there’s much to enjoy with a premium listing as well.  Thanks very much to Burbed reader SMParkster for following up on a fantabulous feudal feast!

130117-greer-redfin331 GREER Rd
Woodside, CA 94062
$85,000,000

9 Beds 
8.5 Baths 
9,000 Sq. Ft.
$9,444 / Sq. Ft.
Built: 1946 
Lot Size: 91.94 Acres 
On Redfin: 60 days
Status: Active
Property Type: Detached Single Family
Stories: 2
Community: Central Woodside
MLS#: 81241344
Style: Colonial
View: Mountains, Lake
County: San Mateo

LANDMARK PROPERTY NEVER BEFORE ON THE MARKET. PROPERTY CONSISTS OF 3 PARCELS—PARCEL #072-052-020 51.04 ACRES. .PARCEL #072-052-260 39.40 ACRES AND PARCEL #072-072-010 1.5 ACRES TOTALING APPROX 91.94 ACRES. .BORDERED ON ONE SIDE BY HUDDART PARK, GLORIOUS LAND W/ ROLLING OAK-STUDDED HILLS OPEN MEADOWS & ENDLESS VIEWS. CIRCA 1941 COLONIAL ESTATE HOME, GATEHOUSE & CARETAKER’S COTTAGE. WOODSIDE SCHOOL

130117-greer-gullixsonWait, this place looks familiar.

Flood estate in Woodside is for sale… $85 million.  Perfect example of why Prop 13 needs to go…. the most recent property tax was under $8000. 

That estate doesn’t look flooded at all, but we admit we didn’t check all 92 acres of it.  Maybe that lake used to be the golf course. 

And what’s this “On Redfin 60 days”?  SM sent this in four months ago.  When we went to check the listing history for further hints, we found only an MLS listing entry from November, plus an announcement that the seller didn’t want any estimates of the property’s value, so no links to any of the automated home valuation websites would be provided.

Like this one.

130117-greer-zestimate

They’re awfully sensitive about any of you finding out that you could rent this place out for $6500 a month instead of Buying It Now for $85M.  As the agent helpfully points out, “You never see this kind of land.”

Comments (15) -- Posted by: madhaus @ 5:10 am

15 Responses to “NEVER BEFORE ON THE MARKET”

  1. PK Says:

    “Perfect example of why Prop 13 needs to go…. the most recent property tax was under $8000.” – but the people living there might lose their house!

  2. SEA Says:

    You proposition 13 haters–you must learn to be more respectful of those who purchased property before you were born.

  3. Real Estater Says:

    We are number 1!

    The Best Performing Cities in 2012: Milken Institute

  4. Real Estater Says:

    Excerpt:

    If you’re worried that another tech bubble may be brewing, DeVol says this time is different because today’s tech companies have “proven business models.”

  5. SEA Says:

    Is that an exercept?

  6. AstroWallaby Says:

    “this time is different”

    Aw dang it, someone paradigm shifted my new normal.

  7. SEA Says:

    The never ending quest for above average returns with below average risk continues…

  8. Real Estater Says:

    The Daily Post is reporting that the Palo Alto City Council is poised to emphasize putting high speed rail underground for the 4 mile stretch passing through Palo Alto due to Palo Alto’s special nature:

    Curtis Williams, the city’s planning director, said the underground option seems to be what the residents want, despite its high cost.

    Palo Alto architect Tony Carrasco, who served on the citizen’s committee to develop a vision for the corridor, said the value of the land that would be created would more than exceed the cost of putting the train in a covered trench. “With rents in downtown Palo Alto as high as Manhattan,” Carrasco said, “the value of the land is enormous.”

    With Palo Alto smack dab in the middle of the Silicon Valley and bordering Stanford, Carrasco said that the possibilities are endless with the land on top of the tracks, although he’d like to see it become parkland.

  9. DonnieJ Says:

    Well it looks like the basic info has it as a 2 bedroom 1 bath at 1240 square feet. Ummmmmm. Permits unknown? At that clip it looks like they are going to have to find someone to give them a loan at $68k a square foot.

  10. madhaus Says:

    Great find, DonnieJ.

    #8 RE that actually makes a lot of sense. Menlo Park and Mountain View should join the fun. Heck, dig the whole danged system into a trench all the way from South San Jose to SF. The residents would appeciate it and the freed-up land and regained crossing would more than pay for itself.

    Seriously, they (SP?) should sell stock in this venture if they don’t want to float a few hundred bazillion in bonds. That land is going to sell for a crapton.

  11. DonnieJ Says:

    “With rents in downtown Palo Alto as high as Manhattan,”

    That makes me sick. Silicon Valley is just a bunch of pretentious crybabies who started “companies” in their dorm rooms which do nothing but troll users and data like some sort of parlor trick.
    Then someone from a market agency delivers some degree of validity to the fact that page views are the equivalent of a TV commercial or car driving by a billboard.

    Next thing you know a bunch of computer geeks are rich beyond any degree of rationality.

    That is Palo Alto.

    Not a city built upon a easily accessible transportation hub that houses a tremendous diversity of companies and cultural which have deep rooted cultural history and the foresight to assemble their infrastructure with public transport and square blocks that rise higher than two stories.

    New York City isn’t going to dry up tomorrow. But if the population decides that the next shiny toy that captures their fancy isn’t found through a search engine or online boysclub/sewing circle, Palo Alto would fall back into the orchard from where it came.

    RIDICULOUS.

  12. madhaus Says:

    Got news for you, DonnieJ. Television is a dying medium. Webpage views are better than Nielsens, because at least with a pageview, the advertiser knows that somebody chose to see that page. Although some new televisions are going to have built-in cameras to see just WHO is watching what’s playing.

    Also Manhattan doesn’t have any auto manufacturers’ headquarters.

    Palo Alto isn’t Manhattan yet, and won’t be, even with an actual subway. We’d need a giant-ass casino to be Manhattan.

  13. Petsmart groomer Says:

    Now only $69,800,000!

    Save $654,375 with Redfin!

  14. SEA Says:

    “Save $654,375 with Redfin!”

    That’s more than “not a lot of money!”

  15. nomadic Says:

    Price reduced to $70M! Piles of instant equity waiting for you…


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