Welcome to the 4th day of San Jose week!

83 N 13th St, San Jose, CA 95112 Central San Jose MLS# 80786611 - Property Details
$1,195,000

* Status: Active
* Bedroom: 6
* Bathroom: 4
* Year Built: 1907
* Lot Size: 7084
* Square Footage: 4200
* List Date: 3/24/2008
* Garage Spaces: 1
* MLS#: 80786611
SPECTACULAR COMPLETELY REMODELED SINGLE FAMILY HOME WITH 12 SPACIOUS BEDROOMS AND 4 BEAUTIFULLY REMODELED BATHROOMS!GREAT RENTAL OPPORTUNITY TO SJSU STUDENTS AND SILICON VALLEY COMMUTERS!DETACHED GUEST COTTAGE!FULL FINISHED BASEMENT PLUS HUGE UPSTAIRS LOFT!GOURMET GRANITE KITCHEN!BRAND NEW LANDSCAPING!LARGE LOT!CLOSE TO ALL DOWNTOWN SJ HAS TO OFFER!AMAZING INVESTMENT OPPORTUNITY!MUST SEE!

I thought we’d take a break from some of those fantastic starter homes in San Jose to take a look at some of the higher end, more magnificent homes. This home totally reminds me of a European palace. Except in San Jose. And next to another house. And not in Europe.

Oh who am I kidding. This is another great opportunity for you investors… rent each room for $1500 a month - boom that’s $18,000 in cash flow a month! Wow, that’d totally cover the mortgage and more! A lot more! In fact, you could probably IPO this house with its amazing cash flow.

1100 OXFORD Rd Burlingame, CA 94010
Price: $1,028,000

Beds: 2
Baths: 1
Sq. Ft.: 970
$/Sq. Ft.: $1,060
Lot Size: 4,819 Sq. Ft.
Age (Years): 68
Year Built: 1940
Type: Detached Single Family
Style: Ranch
Stories: 1 Story
View(s): Neighborhood
Neighborhood: Burlingame Gate/Burlingame Grove

Located on one of the most desirable Burlingame streets. Formal entry way, French door, crown moldings, and updated kitchen(granite Counters, many cabinets. .. ), elegant living room, comfortable and relaxing. Bonus room, new fresh hardwood floors throughout, landscaped lot, gorgeous yard, gold fish pond and Spa too!

Lately there’s been so much doom and gloom - luckily Burbed reader Jeff found this amazing property! There’s really no need to look at the photos, you just need to look at the price per square foot!

$1060!

Wowser! But wait! It gets better! This house is on California Drive, which people take instead of El Camino Real, and is also next to Caltrain!

Not only that, but this house last sold for $830,000 in 2004 - that’s a 24% gain! It makes sense - the unique setting enables this house to be a commuter’s dream!

Thanks Jeff. My spirits are soaring again. I <heart> the Real Bay Area!

1438 Laguna Ave, Burlingame, CA 94010 MLS# 80810375 - Property Details
$1,198,888

* Status: Active
* Bedroom: 4
* Bathroom: 2
* Year Built: 1923
* Lot Size: 4450
* Square Footage: 1730
* List Date: 5/21/2008
* Garage Spaces: 1

BUY or LEASE($4800) with an OPTION to PURCHASE. —————- Call Agent for Details. ———————————————–Elegantly, Completely Remodeled Home. Almost Everything is NEW. ————

——Hey professional renters,——–

——-This owner ———- has a dramatic———– deal ———- for you.

You can —— lease ———– or ———— buy this ——– fine ——- home!

Just—— $4800! —— or ———- you ————- can get a full amortizing ARM for ———– $5792.30. ————

Again—— it——– may——— seem like you will ———– lose money up—– front. But—— in the——-long run——— this will make you—— so rich——-you can——- afford——— as many dashes ———– as you can possibly ——- want.

———What ———— are ———- you———- waiting——— for?

So yesterday we saw what $1.2 million buys you in the Bay Area’s best school district:

Let’s look at a house in what some claim is Burbed’s city of obsession in the East Coast:

Single Family Home - TENAFLY, NJ, 07670 - Realtor.com

Wow. Is it any wonder why the message boards are full of threads about people wanting to leave New Jersey and it’s best in nation school districts?

My god.

Just look at that bloat. You spend $1.2 million and you get 3425 sqft of waste. What are you going to do with that space? How will you be incented to work anymore? You’ll probably just want to sit at home and relax all the time.

And just think about those taxes in New Jersey. That’s right! They have a state income tax of 8.97% if you make more than $500,000. Which, of course, nearly all of Burbed’s readers do. (It’s only 6.37% if you make $75k-$500k. You might as well get food stamps if you do!) And no taxes on clothing!

Then there’s the lack of any good schools in the area. Do they have Cal or Stanford? DUH of course not. All they have is Princeton, and maybe Columbia. Are those schools known for anything?

When you put it all together, it makes sense why people are fleeing New Jersey for low tax destinations California all the time. Just the idea of living in 3425 sqft taxes my mind!

UPDATE: Edited the title.

2375 SIERRA Ct Palo Alto, CA 94303
Price: $1,199,000

Beds:     3
Baths:     3
Sq. Ft.:     885
$/Sq. Ft.:     $1,355
Lot Size:     7,620 Sq. Ft.
Age (Years):    58
Year Built:    1950
Type:    Detached Single Family
Stories:    1 Story
View(s):    Neighborhood
Neighborhood:    Green Gables
County:     Santa Clara

Must see. Move in condition. Live in exisitng or build your dream home. Cul-du-sac. Nice neighbourhood. Easy access to freeway. Close to midtown. No sign, no lockbox. Sellers are moving out of town & want quick close. “AS IS” Sale. Open house Aug 9 from 1.30pm to 3pm. Still accepting offers.

Burbed reader Michelle originally sent this to me at the end of July, but I missed it (junk mail folder woes.) Here’s what she had to say then:

Take a look at this gem, new to the market.  Priced for 34% appreciation in 36 months!

Crappy part of Palo Alto and “just” $1242/sf on a small-ish lot.  The buyers will have to act fast – offers are due this Tuesday.  Time for all of those bids to rush in.  (And I have to wonder, if the realtor says this place is “move in condition” then maybe he/she is color blind.)

Guess what Michelle! It looks like you should’ve bought it back then because the price has already appreciated an additional 9% since it was listed. Damn! Ouch!

Besides, is this really so bad?

The TV mounted over the stove gives it a certain retro-bling feel. Plus, these are Palo Alto schools!

Honestly, if you’re interested in this house you’d better buy it ASAP. Otherwise, I can easily see the sqft appreciate another 9% by the end of the month. This is Real Bay Area Prime Platinum. Better quick on the draw!

25 Walnut Ave, Los Gatos, CA 95030 MLS# 80811426 - Property Details
25 Walnut Ave, Los Gatos, CA 95030
$1,499,000

* Status: Active
* Bedroom: 1
* Bathroom: 1
* Year Built: 1942
* Lot Size: 7520
* Square Footage: 816
* List Date: 5/28/2008
* Garage Spaces: 1
* MLS#: 80811426
*
A rare opportunity in one of the most desirable neighborhoods in Los Gatos. This charming brick cottage, built in 1942, is situated on a large sunny lot and with in walking distance to down town Los Gatos. Comes with city approved plans drawn by esteemed local architect Gary Schloh. Come by and see if this is your opportunity to have the home of your dreams. Seller will consider all offers.

Ah, finally a reasonably priced Real Bay Area home. Thanks to Burbed reader Mike for this find.

When I used to watch Mr. Roger’s neighborhood as a kid, I used to be disturbed by those fake models that they would pan over before the establishing shot of his house. Recently that’s become a new internet meme/art form - using soft focus to recreate scenes like that. Clearly, the Real Estate professional really admires that art scheme, and chose to use that in this photo.

Everything is simply meticulous.

Until this photo that Mike wanted to me to highlight:

Hm, what’s going on here? Mike guessed that it’s an empty pool, or a rad new skateboarding park. I’m sort of leaning towards the latter. Because then you could totally get some rad sponsorships and rent this out for parties. Hello passive income!

What do you think?

Thanks to Burbed reader RinkRat for this find. Now, as we all know, Burbed doesn’t do a heck of a lot of East Bay - let’s face it, it’s not really Real Bay Area.

But if this is true, then perhaps it is time to reevaluate that and include Alameda in that designation!

Anyone familiar with Alameda and can share some of the biggest selling points of that area?

1232 Mandarin Dr, Sunnyvale, CA 94087 Sunnyvale MLS# 80821888 - Property Details
$1,248,000

* Status: Active
* Bedroom: 4
* Bathroom: 3
* Year Built: 1960
* Lot Size: 8848
* Square Footage: 2284
* List Date: 7/16/2008
* Garage Spaces: 2
* MLS#: 80821888
BEAUTIFULLY REMODELED HOME IN CHERRY CHASE*OPEN S&S*NEW 50 YEAR ROOF*LARGE INSIDE LAUNDRY ROOM*LOVELY YARDS*EXTRA WIDE SIDEYARD FOR ADDITIONAL PARKING/STORAGE*IMMACULATE HOME READY FOR YOUR BUYER*SLAB GRANITE ENTRYWAY AND FIREPLACE*GLEAMING HARDWOOD FLOORS*HUGE KITCHEN WITH BLACK GALAXY GRANITE COUNTERS AND RICH CHERRYWOOD CABINETRY* WILL NOT LAST AT THIS PRICE*

Burbed reader madhaus sent this to me a few days ago, but I forgot to post it.

This house is definitely quite remodeled - but is it really worth $1,248,000? Of course it is! 4 bedrooms, 3 bathrooms? Extra wide side yard for that all so important additional parking (hello entrepreneurs!) and granite galore?

“WILL NOT LAST AT THIS PRICE” is the understatement of the year. How much over asking will this sell for?