January 17, 2014

Selling Shortly in Hayward

Let’s visit the East Bay today, always good for a fresh angle. 

140116-ocie-redfin466 OCIE Way
Hayward, CA 94541
$460,000

3 Beds
1.5 Baths
1,185 Sq. Ft.
$388 / Sq. Ft.
Built: 1958
Lot Size: 5,005 Sq. Ft.
On Redfin: 14 days
Status: Active
Type: Detached
Stories: 1
Community: Alameda
MLS#: 40641549
Style: Ranch
View: Other
County: Alameda

Great Opportunity! Easy access to Hwy 880 and 92. House Needs TLC. 3 bedrooms one and a half bath. As is Sale.

140116-ocie-tiltWe’re going to take this one if this is really As it Is —>

And while some of the interior shots are almost maddeningly normal, fortunately the agent did not disappoint us with this careful study of the dining room.

140116-ocie-dining

One could almost think the Real Estate Professional was so excited about this Great Opportunity that she couldn’t be bothered to focus the iPhone before running to her car to post the shots.

Comments (10) -- Posted by: madhaus @ 7:06 am






January 14, 2014

Rare Find in Palo Alto!

Every area in life has The Three Words.  In relationships, it’s “I love you,” in business, “It’s a deal,” in math, “Quod erat demonstratum,” and in Latin, “Igpay Atlinlay Erehay.”  We’re sure you can also name The Three Words of Real Estate.

202 EMERSON St140113-pa-location-redfin.jpg
Palo Alto, CA 94301
$1,000,000

2 Beds
2 Baths
1,154 Sq. Ft.
$867 / Sq. Ft.
Built: 1910
Lot Size: 2,775 Sq. Ft.
On Redfin: 36 days
Status: Active
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Cabin
Community: Downtown
MLS#: 81342791

Location, Location, Location! Charming home downtown Palo Alto near Stanford University. This is a rare find in this area. Home is in need of some repairs and it is being sold "AS-IS" Perfect for an Investor looking to remodel or a builder . Seller has also listed adjacent home at 170 Hawthorne.

Yes, The Three Words of Real Estate are “Sold AS-IS.”  Unless it’s “Palo Alto million.”  Perfect for investor.

Comments (22) -- Posted by: madhaus @ 7:08 am

January 11, 2014

Online Realty Pricing Sites: Do They Work?

Yes, they work. But are the prices valid? That’s another story. Let’s listen in as the San Jose Mercury News (motto: We’re a newspaper just like Burbed is a real estate blog, haha!) explains why the valuation models don’t agree with each other.

Online sites can help tell you what your home is worth

141010-avm-unioncityBy Pete Carey, San Jose Mercury News
POSTED:   12/27/2013 05:00:00 PM PST; UPDATED: 12/28/2013 06:17:12 AM PST

You’re likely to get a warm fuzzy feeling if you look at what your home is worth on Zillow, Trulia or any of the other real estate sites that provide values for millions of houses. Home prices have risen rapidly, and the value these sites assign to your home is sure to reflect that.

But don’t carried away by a single Zestimate, SmartZip quote or Trulia estimate. While they are fine for spotting trends, these home valuation services come with a caveat: they offer rough approximations by computer programs. If you want a more precise estimate, hire an appraiser, talk to a real estate agent or check around your neighborhood and see what homes are selling for.

The sites all use what’s called "automated valuation models," or AVMs, to make sense of mountains of data, typically drawn from recent sales, property history, size and number of rooms, market trends and other factors that influence price.

We can’t believe they spent all that trouble writing an article that says, “If you want to really know what your house is worth, hire an appraiser.” There are multiple models out there, but this piece won’t tell you how they differ, or why. We did learn that Santa Clara County prices are more likely to be correct than Alameda County, but again, no explanation why.

We know why!  It’s because the Real Bay Area’s prices only go up, and all the models built that in.  Feel free to speculate on what’s going on with the AVM of your choice and why your house is So Special that the price estimates are Way Too Low.  Unless you’re buying, in which case they are Way Too High.

Comments (5) -- Posted by: madhaus @ 7:11 am