It’s been a while since we featured a property in Sunnyvale.  Sunnyvale isn’t considered a “prestige” address such as Portola Valley or Woodside.  But there are plenty of advantages to living in Sunnyvale.  How about a two-for-one special?

297 CHARLES St Sunnyvale, CA 94086
$1,100,000

Beds: 7
Baths: 3
Sq. Ft.: 2,516
$/Sq. Ft.: $437
Lot Size: 6,500 Sq. Ft.
Property Type: Detached Single Family
Style: Colonial
Stories: 2
View: Neighborhood
Year Built: 1908
Community: Sunnyvale
County: Santa Clara
MLS#: 81025224
Source: MLSListings
Status: Active
On Redfin: 104 days

Open house July 24th today 1-4. AMAZING!!!2 homes on one parcel!First time on market ever!2 car detached garage. 297 Charles St. 1908 Colonial Revival Historical 5bd/2ba, 2,516+-sqft, newer kitchen, carpet, beautiful floors-545W. McKinley 2bd/1ba-700+-sqft. Both have large basements. Gabel dormer, original hardware, Full kitchen upstairs can be used as a rental-separate address 295 Charles.

See, not only do you get two houses for the price of one (if that one were in the Cupertino school district), you also get an agent who doesn’t believe in using both spaces and punctuation at the same time.  Plus you can use the full kitchen upstairs as a rental!  Seriously, talk about prestige!  Two basements! 

And talk about convenience!  These houses are walking distance to both Sunnyvale Town Center and Town & Country Village.  That means they’re  smack-dab in Downtown, but for some reason the agent doesn’t want you to know that.  Maybe it’s because “Downtown” reminds people of the endless reconstruction of both shopping malls.

Alert burbed reader Pralay sent in this news update on the problems.  Poor Town & Country Village!  Not only did it get a mall in Palo Alto named after it, but it’s now serving as a wildlife refuge.  What a boon to property values!

New developer buys Town & Country parcel in Sunnyvale for $19 million

By John Dugan

Posted: 08/31/2010 06:02:44 PM PDT
Updated: 08/31/2010 07:19:26 PM PDT

A San Francisco development company has bought part of the former Town and Country shopping center in downtown Sunnyvale for $19 million, with plans to put 280 housing units and possible street-level retail on the site.

BRE Properties Inc. announced the purchase of 2.4 acres of land in downtown Sunnyvale in a press release Tuesday. The release said the "transit-oriented" site was one block from the Caltrain station and adjacent to the Sunnyvale Town Center.

Santa Clara County property records show that BRE purchased parcels at 101, 201, 301 and 401 Town and Country Village Way, or roughly half of the 4.6-acre Town and Country site, from Capella Holdings, LLC, on Aug. 20.

A BRE spokesman said there is no timetable to begin construction on the site, which has been vacant since the old shopping center was demolished in April. Previous to the demolition, the buildings sat empty for more than a year, and the site drew complaints from citizens and Sunnyvale City Council members alike for its decrepit appearance and rat infestation.

Yes, The Excitement Is Building in Sunnyvale!  The property is definitely easy walking distance to shops… if any of them were open.  Or standing.

Sunnyvale isn’t a prestige address?  Get real.  Not only is this a hundred-year-old million dollar property, the houses are on the corner of Charles Street and McKinley Avenue.  That’s a Prince and a President!  How much more prestige do you need?  And if Elizabeth II ever keels over, then it’s a King and a President!  The only thing that could make it any more prestigious would be a nearby Starbucks.  If only someone would open a shopping mall.

422 LORETO St Mountain View, CA 94041

$1,499,999

Beds:	3
Baths:	2
Sq. Ft.:	2,029
$/Sq. Ft.:	$739
Lot Size:	5,750 Sq. Ft.
Property Type:	Detached Single Family
Style:	Traditional
Stories:	2
View:	Neighborhood
Year Built:	2007
Community:	Downtown
County:	Santa Clara
MLS#:	81033665
Source:	MLSListings
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	24 days

Beautiful custom Craftsman style home built in 2007 and located in highly sought after Old Mountain View Neighborhood. This home was designed for maximum space and features an open floor plan. Filled with premium features and skylights throughout. Serene backyard with custom built playhouse. Nearby amenities include CalTrain, lightrail, and walking distance to vibrant downtown Mountain View!

Thanks to Burbed reader S.L. for this find!

S wanted to call attention to this curious statistic:

Wow! Look at all the trapped equity waiting in this… uh… non-fixer-upper!

As we all know, real estate operates in a 5 year cycle – so if you buy this today, it should definitely resume the $1.8M price by… July 11, 2012! Boom! Instant riches!

Thanks for the investment advice!

Today’s listing and comments are thanks to burbed reader Gallileo.  Many thanks!  Remember, if you see an interesting property for sale and would like to see it featured here, please email us a link to the listing and anything you have to say.  Alright, give it up for Gallileo!

Old Palo Alto, feeling ashamed at being only the third leading income city in the nation, has decided to leave the RBA (Real Bay Area).

1227 Fulton Street, Palo Alto, CA  94301
$1,350,000

BEDS: 4
BATHS: 2
SQ. FT.: 2,114
$/SQ. FT.: $639
LOT SIZE: 5,625 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 2
YEAR BUILT: 1924
COMMUNITY: Community Center
COUNTY: Santa Clara
MLS#: 81036220
SOURCE: MLSListings
STATUS: Pending Without Release
ON REDFIN: 14 days

Cozy 2-story home in highly desirable Palo Alto Community Center; 4b2bth, spacious LV & Dining rm; Private master bdrm upstairs; Quiet bckyrd w/ mature trees along property perimeter; Tree lined street, quiet neighborhood, surrounded by houses of stylish architectural details; Walking distance to libraries, community center, parks, schools; Short Distance to downtown shopping and restaurants

A nice old house on a nice old Palo Alto street, on the right side of Middlefield Road.  You can walk to Steve Jobs’ house, the children’s library, downtown and Rinconada park.

This area has just left the RBA because this house sold for $1.7 million in 2007 and is now on the market as a foreclosure at $1.35 million.  It was on and off the market all of 2009 at a wide variety of prices (always less than the 2007 price) but it didn’t sell.  A sad day for Old Palo Alto, but we’ll always have 94306!

36 LYELL St Los Altos, CA 94022

$1,099,500

Beds:	4
Baths:	3
Sq. Ft.:	1,466
$/Sq. Ft.:	$750
Lot Size:	6,969 Sq. Ft.
Property Type:	Detached Single Family
Style:	Traditional
Stories:	1
View:	Mountains, Neighborhood
Year Built:	1946
Community:	North Los Altos
County:	Santa Clara
MLS#:	81020948
Source:	MLSListings
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	53 days

Location Opportunity! Downtown Village charm, private fenced back yard, majestic oak tree. Room for garden. Bonus room. Nice house, 4 bedrooms, 3 updated baths. 4th bedroom suite off garage. So dont miss bonus room off the garage!

Thanks to Burbed Gallileo for this find. Here’s what G had to say:

Sold in February 2010 for $975,000, now on the market for $1,099,500. With no improvements over the past four months listed in the description, that is a work and investment free annualized appreciation of 43%! Now that is what I call the real bay area!

You heard it here folks… Real Bay Area real estate is about to resume its place as the world’s best and safest investment.

Bernie Madoff eat your heart out!

Want a private and spectacular estate for less money than yesterday’s building pad farm?  You can’t have it.  It’s been delisted.

10264 MERKLEY Row  San Jose, CA 95127
$1,199,900

BEDS: 5
BATHS: 4.5
SQ. FT.: 4,416
$/SQ. FT.: $272
LOT SIZE: 2.22 Acres
PROPERTY TYPE: Detached Single Family
STORIES: 2
VIEW: Mountains, Neighborhood, Valley, City Lights
YEAR BUILT: 1990
COMMUNITY: Alum Rock
COUNTY: Santa Clara
MLS#: 81024704
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 5 days

* BANK OWNED/REO * Private, grand and elegant gated estate nestled on an approximately 2.2 acre parcel w/ breathtaking panoramic views of the Santa Clara Valley floor and neighboring mountain ranges. Large open rooms, guest quarters, library/office and a large master retreat. All non all cash offers must be accompanied by a Bank of America pre-qual. AS IS sale!

Today’s non-listing has plenty of questions it doesn’t want to answer.  Maybe the readers of burbed can figure them out!

Why was this lovely property taken off the market?  The homedebtors paid $1,715,000 for it at the peak of the market for non-RBA properties.  Then some trust fund snapped it up from the bank last December for $775,625, which is probably what was owed on the mortgage.  Here’s the really weird thing.  The property was listed on May 18th and delisted on May 25th.

What flavor of Kool-Aid made this property worth $1.7M in 2006?

What did the FBs do to the place that the property was being sold AS IS?  The house was built in 1990-91 with a quality level of 9.0, so this is not new but incomplete construction.  Perhaps we are talking about new and incomplete destruction.

Is the location so non-RBA that the high quality of the construction and the private, grand and elegant gated estate nestled on 2.2 acres with breathtaking panoramic views comes down to lipstick on a pig?

How come only Bank of America pre-qualifications were acceptable on this foreclosure?  Is this some kind of inside job?  Is there a whiff of funny business to this property?

Why is the Trulia listing only for 4416 sf but the Redfin one presents 5227?  Is that why the property was AS IS?  Are we to believe that someone bought a 4400+ sf property on 2+ acres and decided it wasn’t big enough?  And that they then managed to wreck their financial health by adding to a gated estate in Alum Rock?  But they didn’t bother getting any permits?

Is this place sold but secretly?  How did they manage to sell it with this out of focus picture?  Is it still on the market?  Where did the extra 800 square feet go?

Good luck answering these questions, especially why you cannot buy this property today.  Or whether you should have bought it in May to grab the state tax credit. Or if you’ve been – TOO LATE – priced out forever.

Surprise!  Here’s another guest post from madhaus, who hasn’t contributed since… yesterday.

130 Bryant St, Palo Alto, CA 94301
$1,295,000

BEDS: 4
BATHS:  2
SQ. FT.: 2,114
$/SQ. FT.: $613
LOT SIZE: 7,000 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 2
YEAR BUILT: 1925
COMMUNITY: Downtown
COUNTY: Santa Clara 
MLS#: 81024985
SOURCE: MLSListings
STATUS: Active 
ON REDFIN: 3 days

Tenant has lived in the house for over 18 years- needs work. Reports available. Fifth bedroom was dining room.

Here’s a rare opportunity to buy a house in Downtown Palo Alto at a Cupertino price!  Sunnyvale, even!  But unlike Cupertino or Sunnyvale, this is no tract home that looks just like every one of its neighbors.  This is an 85 year old house with lots of character, traditional styling, architectural interest, and serious damage.

So, what’s this about a tenant?  Someone’s lived here for 18 years?  Oh dear!  Homes built in 1925 shouldn’t have 18-year tenants!  The place must have been absolutely perfect before a tenant moved in!  Why, tenants could have done all kinds of things to this house in the last 18 years!  Rusted the pipes, made the roof leak, filled the place with termites, splashed hard water all over the bathtub!  Let’s see how much work is going to be needed to bring the house back to habitable condition.

Oh no!  There are no inside pictures!  It must be some hecka damage.  You’d best read those reports that are available.  Are they police reports?  Arson reports?  Suppose that tenant ate crackers in bed or left the milk carton open?  Even… gasp… both!  And goodness knows what happened to the dining room.  The tenant, or somebody, turned it into a fifth bedroom!  The nerve!  If it’s a bedroom, how are you doing to put a dining room table there?  It’s going to leave no room for the nightstands!

This is what happens when Angry Renters are allowed to live in a “good” neighborhood: there go the property values for everyone.  But their loss is your gain!  A little bit of spackle where the pushpins went in the wall, sand off that window that got painted shut, replace the missing floors and staircase, and you’ve got a beautiful house!  They really knew how to build them in 1925, so you won’t have to worry about much else.  Except the dining table in the fifth bedroom.

1407 ERNESTINE Ln Mountain View, CA 94040

$1,198,000

Beds:	3
Baths:	2
Sq. Ft.:	1,539
$/Sq. Ft.:	$778
Lot Size:	5,184 Sq. Ft.
Property Type:	Detached Single Family
Style:	Ranch
Stories:	1
View:	Neighborhood
Year Built:	1954
Community:	Miramonte
County:	Santa Clara
MLS#:	81021198
Source:	MLSListings
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	10 days

Great Saint Francis Acres Location with Top Los Altos Schools. This home has been updated top to bottom. Gleaming Hardwood Floors, Remodeled Kitchen & Master Bath, New Entry Door, New Roof & Gutters done last year, New Water Heater, New Landscaping, New Tile at Entry, Kitchen, Baths and Family Room Floors. New Sliding Doors to Rear Yard, many other features just completed.

The recession is officially over.

This is the perfect listing for hump day. Turn that frown upside down with this house. Wow. $778 per square foot… and it’s even got new sliding doors to rear yard! Wowsers! That’s unheard of! That’s at least a $50k improvement in price!

This just a sign of things to come as Spring Bounce wraps up, and we move into Summer Jam. Let’s watch those prices soar again!

476 FERNANDO Ave Palo Alto, CA 94306

$1,499,000

Beds:	4
Baths:	3.5
Sq. Ft.:	2,347
$/Sq. Ft.:	$639
Lot Size:	7,840 Sq. Ft.
Property Type:	Detached Single Family
Style:	Traditional
Stories:	2
View:	Neighborhood
Year Built:	2005
Community:	Ventura
County:	Santa Clara
MLS#:	80903496
Source:	MLSListings
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	464 days

ENJOY THIS ELEGANT, 4 YEAR OLD HOME WITH FORMAL ENTRY, LIVING, AND DINING ROOMS. ENTERTAIN YOUR FAMILY AND FRIENDS IN THE FAMILY ROOM KITCHEN THAT OPENS TO THE PATIO. LARGE MASTER BEDROOM WITH BALCONY, WALKING CLOSET, LUXURIOUS BATHROOM. GROUND FLOOR BEDROOM WITH FULL BATH. CLOSE TO STANFORD UNIVERSITY AND HOSPITAL, PALO ALTO MEDICAL CLINIC, RESTAURANTS, SHOPS, POST OFFICE, AND TRANSFORTATION.

Thanks to Burbed reader Nate for this find. Here’s part 2 of his post:

Sure, it’s a couple years older but it makes that up with it’s sheer opulence.  Make sure they include those curtains with the sale!  It’s already been marked down $300k from it’s original asking price from January 2009 – so act soon. 

And if you don’t want to dirty the kitchen by actually cooking in it, there’s a great everyday eatery just steps away – Boston Market!  Enjoy your rotisserie chicken or meatloaf under that beautiful chandelier – but be sure to play some classical music lest you be bothered by the sounds of El Camino traffic.

What’s that?  You want the benefits of having a commercial establishment as a neighbor but you also want to live in a cul de sac?  Tall order, my friend, but you’re in luck. [Stay tuned for the conclusion tomorrow!]