March 6, 2013

Bay Area Bubble 4.0: The Old is New Again

We’re covering the housing bubble 24/7 now that everyone’s paying attention to real estate again.  Today we have a lovely home in Redwood City that you may have seen before.  Take another look, while you still can!  Thanks very much to Burbed reader Petsmart Groomer for an excellent surveillance operation.

130305-esther-redfin715 ESTHER Ln
Redwood City, CA 94062
$450,000

2 Beds
1 Baths
750 Sq. Ft.
$600 / Sq. Ft.
Built: 1929
Lot Size: 4,790 Sq. Ft.
On Redfin: 33 days
Property Type: Detached Single Family
Stories: 1
Community: Cordilleras Heights
MLS#: 81303054

Beautiful view of bay and city lights. Additional 6900sqft lot to be sold with the property. The additional 6900 sq ft parcel of land CANNOT be developed upon per city and county building department. Building square footage 1130sf on public profile is incorrect, actual living area is about 750sf, Fixer-upper Sold "As Is" may not qualify for FHA.

This house’s list of tag may be bigger than it is.  Not only that, it has a history!

130305-esther-reprise-120620

Here’s something it didn’t have last year (besides an extra hundred thou of instant equity you get now!): Redfin Agent Insights!

130305-esther-redfin-agent

“Dead End,” “Completely gutted” and “Killer Views,” three phrases that don’t go well together after watching certain movies.  How about Zero Dark Thirty?

Comments (9) -- Posted by: madhaus @ 5:09 am

9 Responses to “Bay Area Bubble 4.0: The Old is New Again”

  1. SEA Says:

    Of course this is “selling shortly,” since it’s moved from more than “not a lot of money” to less than “not a lot of money.”

  2. sfbubblebuyer Says:

    Plus “Not for development” means “your very own dump site for whatever the heck you want to strew about.”

    Hoarders welcome.

  3. Roseville property management Says:

    Adorable from the front. Not so adorable from the back. Definitely has the look of a small hideout. Cue Navy Seals?

    We tried cueing them. They’re too busy terminating the attempted SEO. –ed.

  4. Rocket Says:

    It looks like the additional lot included with it is some kind of right of way? Maybe an underground utility? I guess you could make a vegetable garden on it.

  5. Petsmart groomer Says:

    It looks like it’s next to some easement. Maybe a gas pipeline? Street View shows some work going on. Can anyone recognize the logo on the truck?

  6. madhaus Says:

    Gosh would you LOOK at THAT.

  7. Tom Paine Says:

    Maybe they meant “Views of killers dumping bodies in the trashed lot behind this Exquisite architectural gem”?

  8. Real Estater Says:

    All, what we are witnessing now is an economy all set for takeoff after years of stimulus. The jobs are back; Dow is at all time high, and underwater real estate is replaced by overbidding. This is no bubble. This is a natural part of the economic cycle when things are starting to boom again.

  9. Real Estater Says:

    East bay report: There is no bubble here.


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