Sorry to interrupt the horrible houses, but this is too good to pass up. Match.com just listed their Top Ten Cities to Meet A Nerd. Why don’t you all make your predictions which city is the absolute petaflops best place to land yourself your very own nerd, before finding out what they came up with?
Go on, we’re waiting. We’ll have that list for you right after the break. Did we make it? Did we?
$229,000
Beds: 3 Baths: 2 Sq. Ft.: 1,422 $/Sq. Ft.: $161 Lot Size: 4,560 Sq. Ft. TYPE: Detached STYLE: Other STORIES: 2 Year Built: 1910 Community: Brockhurst County: Alameda MLS#: 40505697 Source: EBRD Status: Active On Redfin: 8 days Real hardwood, large kitchen, new carpet and paint throughout, huge rear yard. A real Gem!
Thanks to Burbed reader Joe for this find!
First, let’s enjoy the listing photos, which appear to be taken from another website. Classy!
Next, let’s take a gander at the fine location of this house:
What? No mention of the great views of 580?
But the reason why Joe brought this up, and why I’m hoping all the forensic accountants can step up and help us out here is this:
HUH??????????????????????????????????????
Any idea
what happened here?
$88,000
Beds: 3 Baths: 1 Sq. Ft.: 1,049 $/Sq. Ft.: $84 Lot Size: 4,370 Sq. Ft. TYPE: Detached STORIES: 1 Year Built: 1906 Community: Brookdale County: Alameda MLS#: 40503515 Source: EBRD Status: Price Change On Redfin: 22 days
Thanks to Burbed reader sonarrat for this find!
Wow. What a deal! Just $84 per square foot! And it’s from 1906! That means its historic!
Yeah, it has a little fire damage – but how much could it cost to fix this?
Any takers?
So much to admire about this house, so little they’re willing to show us! It must be full of awesome sauce inside!
3601 Howe Ct, Fremont, CA 94538
$419,000
BEDS: 3
BATHS: 2
SQ. FT.: 1,640
$/SQ. FT.: $255
LOT SIZE: 7,134 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1958
COMMUNITY: Alameda County
COUNTY: Alameda
MLS#: 81019451
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 289 daysProperty in a cul-de-sac; 3 bdrms 2 baths, the garage was converted into a bedroom legality unknown by the seller. Good size backyards. Living room with a fireplace, kitchen with a granite countertops & double sink. This house needs some TLC.
Oh come on, how come none of these listings ever come right out and say “this is an illegal conversion, we’re sorry”? Legality unknown? The only thing unknown is why the agent thinks nobody could figure that out. I mean, look at the place, the garage conversion was done by such unpleasant people that the second floor is trying to make a break for it.
This house needs some TLC, alright. Some TNT Lit and Combusting. If you use enough, you can blow the back fence out, too. Then enjoy watching the trains go back and forth right behind where the house used to be.
Whoo-whoo! But hey, it’s got granite countertops.
Update: Thanks to Burbed reader nomadic for calling out this amazing Street View! Wow!
What’s really great about this is it makes the next-door neighbor’s entire house look like it’s the detached garage for the featured place, right down to the echo of the green Yen sign in the housepaint. Extra points for the yellow vehicle having the hood up.
And, lower East Bay prices too! Win-win-win!
Officials push for higher tolls during rush hours on San Mateo, Dumbarton bridges
By Mike Rosenberg, The Oakland Tribune
Posted: 01/31/2011 07:23:07 AM PST, Updated: 01/31/2011 09:26:52 AM PST
Drivers crossing the San Mateo and Dumbarton bridges would pay higher tolls during rush hours under a plan Peninsula officials are urging Bay Area leaders to adopt.
A group of city, county and transportation officials this week released the new San Mateo Countywide Transportation Plan, which includes support for congestion pricing on the two bridges that connect the Peninsula and East Bay.
"I think it’s a shame they haven’t done congestion pricing," said Rich Napier, executive director of the county’s congestion management agency, which is overseeing the transportation plan. "It does work."
(Photo, above right: Drivers crossing the San Mateo and Dumbarton bridges would pay higher tolls during rush hours under a plan Peninsula officials are urging Bay Area leaders to adopt. File photo, The Oakland Tribune.)
Now, some readers of this site are really clever people, and will simply glance at the headline above and figure it out immediately. Others of you need to be taken by the hand and have a few things spelled out really slowly and carefully.
Congestion pricing, in case you haven’t tried driving across the Bay Bridge during commute hours, means that the toll is higher during rush hour when everyone else is going to work. At present, Bay Bridge congestion pricing is $6 during peak commute hours and $4 other times. The San Mateo and Dumbarton bridges have a $5 toll at all times, rush hour or not.
Now, here’s the part you should have already worked out:
Drivers at the San Mateo and Dumbarton bridges typically wait less than two minutes to get through the toll booth, according to the Bay Area Toll Authority.
Still, officials said traffic data shows many of the logjams on Highway 101 are caused by commuters who take advantage of cheaper housing in the East Bay and cross the bridges for their jobs in the Peninsula. Slowing traffic on the bridges during the commute could have a ripple effect on Highway 101, where officials have struggled for years to ease bottlenecks, they said.
Ooooh, ripple effect! Double rainbow all the way! Across the sky! By making commuting more expensive or more inconvenient, homes on the Peninsula close to jobs will become even more valuable. Meanwhile, “cheaper housing in the East Bay” won’t be such a bargain once the commute costs more time and money. Expect that desirability deficit to work itself into pricing homes in the East Bay if congestion pricing moves to Peninsula bridges.
In related bridge toll news, the Golden Gate bridge authority is getting rid of all their human toll-takers and switching to an all-electronic system.
Trulia has yet another view of the perpetual Rent versus Buy debate, and they’ve got lots of colored bubbles to help. Bubbles are great. They lead to high housing prices and if you own the house, you get to paint it any color you want (as long as you don’t live in a fascist HOA community).
The map at right is from Trulia’s Rent vs Buy tool. The rent ratio is calculated by comparing the median list price of a 2 bedroom condo or townhouse listed on Trulia to the average monthly rent, for the 50 largest cities in the United States.
You see the problem right away, don’t you? 2 bedroom condo or townhouse. Excuse me, but who the heck wants to buy a 2 bedroom condo or townhouse? Maybe some of us have to (if we want to own anything), but for those who can buy a single-family detached house, the ratio we want is the cost versus the rent of a three bedroom, two bath house with a yard. Those are difficult to find in San Francisco, and almost nonexistent in New York City, but for everywhere else, such a thing is not only possible but highly desired.
So who cares if Trulia says San Jose has a price to rent ratio of 15 (which puts it right over the line for the BUY column)? That means BUY don’t rent the condo. The question is whether to buy the house, and they aren’t helping with that decision.
Here are Trulia’s Rent vs Buy numbers for some cities of interest. Remember, under 15 means buy, over 20 means rent, and in between, it depends. Maybe that means live somewhere else.
City Avg List Price Avg Rent Price to Rent Ratio Fresno $90,446 $936 8 Sacramento $152,696 $934 14 Oakland $278,245 $1,625 14 San Jose $298,621 $1,691 15 Los Angeles $491,055 $2,460 17 San Diego $396,409 $1,670 20 San Francisco $774,728 $2,996 22 Portland $307,858 $1,145 22 Seattle $461,330 $1,546 25 New York City $1,383,612 $3,538 33
The biggest surprises on the full list? Omaha, at 26 and Fort Worth at 30, although Trulia notes the Fort Worth sample size was insufficient. These numbers don’t show whether attached housing is seen as a city norm or not, and if not, at what discount does attached housing go for compared to detached. I suspect the odd results for Omaha and Fort Worth are for that very reason. There may be so few attached units that the results are meaningless.
So where does San Jose fit on the scale of urban to suburban? Given the name of this website, perhaps San Jose house price rent ratios are in the thirties.
I wanted to close out the week with one more property that could have made Zillow’s expensive home sales list (remember, not one RBA property on the list, the nerve!) But there weren’t any over $10 million properties in Marin, and when I moved over to Alameda County… lookie here what I found.
1812 Bali Ter (Unable to map), San Leandro, CA 94578
Sold on 01/08/2011: $41,500,000
<img missing due to burbed’s terrible admin skills. working on restoring>
BEDS: 5
BATHS: 2.5
SQ. FT.: 2,192
$/SQ. FT.: $18,932
LOT SIZE: 2,543 Sq. Ft.
TYPE: Detached
STYLE: Contemporary
STORIES: 2
YEAR BUILT: 2009
COMMUNITY: San Leandro
COUNTY: Alameda
MLS#: 40492923
SOURCE: EBRD
STATUS: SoldNew Construction. .. Gated Community. No HOA. Many upgrades included. Great floor plan. Large kitchen island & pantry and gas stove. Huge master suite with jet tub, etc. Has 3-fireplaces. Seller says must sell bring offer!.
Guess this was the seller’s lucky day, huh? Or maybe someone seriously fat-fingered that update? From looking at that rather pedestrian kitchen (for $41 million, I want something that doesn’t scream 2005 at me), I suspect someone made a big mistake. Let’s hope it wasn’t the FB fulfilled buyer. So, have a look at the asking price.
<img missing due to burbed’s terrible admin skills. working on restoring>
Whoa! I’ve heard overbidding is everywhere, but… let’s see what the lucky homedebtor got for (cough) $41 million. Fortunately, this site and several others had lots of pictures and information and even managed to come up with a map. There were 10 homes in this new gated community. It must be really posh!
<img missing due to burbed’s terrible admin skills. working on restoring>
That’s some serious elbow room. At least there should be some open space nearby, right?
<img missing due to burbed’s terrible admin skills. working on restoring>
Plenty of room across Liberty Street! Awesome! Now, gated community, right? Let’s get a good gander at the gate!
<img missing due to burbed’s terrible admin skills. working on restoring>
While a few security guards at an entry booth would be a touch more apropos, the riffraff won’t be crashing the cotillion! In fact, don’t worry about the wrong element showing up uninvited to social events, because absolutely nobody will know where this house really is. I’ll prove it. Here’s where another Realtard site thinks it’s located:
<img missing due to burbed’s terrible admin skills. working on restoring>
Who wouldn’t pay a hundred times the asking price for an undisclosed location and guaranteed privacy? Not convinced? Here’s where Zillow thinks it is:
<img missing due to burbed’s terrible admin skills. working on restoring>
And remember, Redfin didn’t even try to find the house.
Okay, I know you’re all laughing at this new construction in San Leandro (has Burbed ever been to San Leandro before? Yes!) but it’s got 10 rooms! The house yesterday had 14 (and zero bedrooms). So there’s no reason why this house can’t sell for an eight digit price, too. Plus you will avoid all that horrible traffic in The City.
Update 1/11/11: Well, dammit, Redfin now (as of 4 pm) says the house sold for $415,000. I was so looking forward to watching this FB open the property tax bill, too.
Yesterday’s house in Newark generated such excitement we’ll look at another fantastic property in South Alameda County. Drive a little further to work and save, save, save!
3825 Washington, Fremont, CA 94538
$799,000
Beds: 4
Baths: 2
Sq. Ft.: 2,347
$/Sq. Ft.: $340
Lot Size: 10,560 Sq. Ft.
TYPE: Detached
STYLE: Cottage, Fixer/Handyman Special, Other
STORIES: 1
Year Built: 1890
Community: Irvington
County: Alameda
MLS#: 40493041
Source: EBRD
Status: Active
On Redfin: 78 daysFixer built in the 1800 s 2 homes on one lot with a RARE Community Commercial Zoning. Units are sold AS-IS Lot faces Washington Blvd and back of lot on Main St. .Many possible bussiness possibilities or Residential Income. Do not enter property without Agent present. Zoned Multi-unit Res.
So much that is RARE about this offering! Not one but two 120 year old properties in Irvington, with that RARE Community Commercial Zoning which is Zoned Multi-unit Res. That’s right, you can build an apartment complex and a shopping mall, both! Think of the many possible bussiness possibilities there! Just set up a 7-Eleven for your tenants’ late-night convenience and your round-the-clock profit!
But that’s not all that makes this place Special. Look how sleek and streamlined this lot is compared to its dumpy plump neighbors. And not every lot has a couple of scrapers on it older than your great-grandmother. Think of all the Residential Income you will generate with these Units sold AS-IS. Just be sure you do not enter property without Agent present. No telling what could befall you if you did. Maybe this is a bad neighborhood; somebody stole the For Sale sign from the agent’s photo.
Here’s what the Googlecam has on your new home!
Definitely an up and coming neighborhood to live in. There’s your new place with all the palm trees!
So buy this RARE fixer build in the 1800 s! For this much commission, the Agent will stay at the property 24/7 after you move in. Then you can always enter the property with Agent present. Always.
Just because the end of year sales are over doesn’t mean you can’t find a bargain in the housing market. Here’s one all ready for you to celebrate moving in! Thanks to Burbed reader SEA for finding this festive property.
37003 Arden St, Newark, CA 94560
$199,000
BEDS: 2
BATHS: 1
SQ. FT.: 816
$/SQ. FT.: $244
LOT SIZE: 5,000 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 1
YEAR BUILT: 1922
COMMUNITY: Alameda County
COUNTY: Alameda
MLS#: 81042954
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 125 daysTLC Needed, but a good value.
Here’s what SEA had to say about the house:
If you really want some instant equity in that area, take a look at [this place].
Sold May 2006 for $581k.
Listed today for $199k.That’s 2/3 off!
Of course all these homes at 50%+ off peak pricing, they cannot impact the RBA pricing. In fact, the ratio of RBA pricing to non-RBA BA pricing keeps going ever higher.
With all that positive cash flow from day one, it’s difficult for me to understand why these places are for sale, foreclosed.
And that’s not even considering all the income tax advantage that the landlord keeps. What person lets a cash cow go to foreclosure?
And let’s not even get started on the difference in cash flow if I were to buy this place today versus the landlord who owns another unit in the area purchased for ~$600k in 2006. I’m sure he’ll have no problem passing his extra expenses on to the tenant, or so the theory goes.
We can talk cash cow if you want, but we’d be a lot further afield from Google if we did. Supposedly the Price to Rent ratio in Fresno is (are you ready?)… 8. So let’s stick with Newark for now, as it has more sushi shacks than silos.
Plus this house is ready to party down with your bad self. So if you’re one of those people who need a big hank of the hair of the dog that bit you, head on over to the bank today. Tell them you heard it’s a short time to homeownership.
Last house of 2010, and is it a STUNNER! The banks say everything must go, so help economy as you help yourself to these incredible deals!
36570 Bonnie St, Newark, CA 94560
$206,900
Beds: 3
Baths: 1
Sq. Ft.: 942
$/Sq. Ft.: $220
Lot Size: 6,864 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1953
Community: Alameda County
County: Alameda
MLS#: 81040455
Source: MLSListings
Status: Active
On Redfin: 136 days1st time home buyer or investment opportunity. 3 br, 1 bath home with large yard and wide driveway space. Add your style with some updates and a little sweat equity. Convenient to freeways and shopping.
You’ll have plenty of opportunities to add your style here! All it needs are some updates and a little sweat equity. I think the agent is using “little” in the same sense that upper-class women use the term to mean “expensive.” As in “Muffy, do you think I should wear my ‘little’ necklace to the regatta?”
Associating the house with shopping expeditions by the moneyed class is an excellent marketing strategy, because the house is “convenient to freeways and shopping.”
Convenient to shopping. Really, really convenient.
I’m not sure what amazes me more about this house: that the agent thinks these photos are going to help sell it, or that it’s only being offered for 15% less than its bubble pricing in 2006. But that’s still more than twice what it sold for in 1990, proving that real estate will always go up in the long run.
It’s just that some places have to run longer than others.
Better make it your New Year’s resolution to elbow your way past the crowds to buy this one, because it’s selling shortly!
Location, location, location! Burbed is everywhere you click.
