August 6, 2009

Houses in Mountain View – great for sharing!

831 JACKSON St, Mountain View, CA 94043 | MLS# 80935440
831 JACKSON St Mountain View, CA 94043
Price: $389,000

831
Beds: 2
Baths: 1.5
Sq. Ft.: 1,056
$/Sq. Ft.: $368
Lot Size: 3,468 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Green Belt
Year Built: 1920
Community: North Shoreline
County: Santa Clara
MLS#: 80935440
Source: MLSListings
Status: Active
On Redfin: 10 days
LAND VALUE ONLY. DO NOT DISTURB OCCUPANTS!!!! Elderly person in the home. DRIVE-BY ONLY PLEASE!! Property is a tear down. Both lots must be sold together: Jackson Alley(MLS#80935436) & Jackson ST. Property faces the greenbelt. Write offer subject to inspection.

Huh. Well that’s peculiar. Let’s take a look at the matching property:

0 STIERLIN Rd, Mountain View, CA 94043 | MLS# 80935436
0 STIERLIN Rd (Unable to map) Mountain View, CA 94043
Price: $389,000

stierlin
Beds: –
Baths: –
Sq. Ft.: –
Lot Size: 4,218 Sq. Ft.
Property Type: Residential Land (Single Family)
View: Neighborhood
Community: North Shoreline
County: Santa Clara
MLS#: 80935436
Source: MLSListings
Status: Active
On Redfin: 10 days
Build to suit. “Private setting. ” LOT IS LOCATED ON JACKSON ALLEY, NOT STIERLIN RD. Property within 2 blocks of downtown Mt. View, Caltrain, VTA, & local restaurants. Close to Google, Yahoo, Microsoft, & Nasa. Water lines installed. Utilities available. Sold together with 831 Jackson St. ,MV MLS#80935456

Thanks to Burbed reader Herve for this peculiar find.

Let’s face it, Silicon Valley is the center of innovation. Nothing is invented anywhere except here. And now… the concept of easy to share houses!

So I think this is how it works, you and your buddy go buy the houses together, and then you profit!

On each of these lots, you can probably build a 1500 sqft house. That’s just another $375k on top of the land value.

If this isn’t the definition of entry level, I don’t know what is. So get on escalator of riches already and zoom up!

Let’s be thankful the senior resident offered a deal like this. Phew!

Comments (23) -- Posted by: burbed @ 5:55 am






August 3, 2009

Silicon Valley's Jobless Unplug From Tech – WSJ.com

Silicon Valley’s Jobless Unplug From Tech – WSJ.com
SUNNYVALE, Calif. — Jobless workers in Silicon Valley are giving up on the region’s dominant technology industry and trying to switch to other fields, as the area’s unemployment rate spikes above the national and state average.

As a result, Silicon Valley’s unemployment rate — which was below California’s average and largely tracked the national average last year — has soared, surpassing the state average in May. By June, the area’s unadjusted unemployment rate was 11.8%, worse than California’s 11.6% and the national rate of 9.7%, according to the latest figures from California’s Employment Development Department. The rate of job losses was particularly steep in sectors such as semiconductor manufacturing, where employment dropped more than 13% in June from a year earlier.

Blah blah blah. Ignore the fake doom and gloom news. The reality is that while tech might be ramping down a little, it’s only to take a breather before Silicon Valley reinvents itself as the world’s major clean energy industry center.

But… even before we reach that, let’s look at this fascinating tidbit:

That’s partly the situation facing Bernie Maloney, 46, who was laid off from Hewlett-Packard Co. as a project manager last year after a 16-year career there. Mr. Maloney has been looking for a tech job that would allow him to create and launch products. But job interviews have so far been “very thin for me,” he says.

After joining ProMatch in June, Mr. Maloney widened his job search to clean-energy companies and biomedical-device firms. He says he has gotten some traction with clean-energy companies, but suspects it will take several more months to land a job. “I’m looking at this as an opportunity to look at other fields,” says Mr. Maloney, who made $175,000 a year at H-P, excluding bonus.

It just goes to show… the average tech guy makes an average $175,000 in salary (before bonus) in Silicon Valley.

Once green tech rolls in – we’re looking at $250,000. With two earners (because A people marry A people) – $500,000. Using the rule that a house should be no more than 6x your salary: $3,000,000

Is it just me or is the future looking amazingly bright?

Comments (57) -- Posted by: burbed @ 5:18 am

August 2, 2009

Fleeing Silicon Valley – Part 1

Fleeing Silicon Valley – Part 1
Thousands of people are fleeing Silicon Valley; and, it not just migrant workers but also skilled workers. They all say the same thing – that opportunities exist in more places today and the opportunity costs are much lower. The economics of Silicon Valley are not working as they used to.

In fact, it’s hard to get a moving truck in Silicon Valley and it costs about $3800 to rent a U-Haul truck from San Jose to the Mid West, but only $1500 to move the other way. This is because far more people are moving out of the Bay Area than are moving in. The exodus has been going on since 2005 but has accelerated due to the down turn, residential rents are falling and top tier office rent is down 25% in a year. Many in Silicon Valley aren’t even aware of the exodus, they are working even harder just to keep up, in a ecosystem where the opportunities are shrinking and resources are getting expensive.

Recently, a friend on mine quit his $200,000 VP job at a public company in Silicon Valley to move to North Carolina to work for 25% less. He said in North Carolina, things cost much less and you can buy the best house in the best neighborhood for $500,000. Something that is not attainable in Silicon Valley.

Wowsers. I totally missed this piece written in April!

How dare WebGuild publish such blasphemy. At Google, I think they would call this “not googly”. Here at Burbed, I think it’s definitely “not burbedly”!

The Bay Area is the only place in the world with good weather, smart people, great sushi, tech companies, venture capitalists, and the Bay Area. I 100% guarantee you won’t find any other place with those qualities!

Frankly, I’m not sure how WebGuild can claim that people are fleeing. The only people I personally know who are leaving are losers like doctors who have no reason being here anyway. They’ll never become rich like all the tech people! What do they have to offer? Besides, I’m sure Ruby on Rails can eventually replace their services in some form or another.

Let’s face it, this piece was nothing but link bait for web guild. There is nothing bad going on in Silicon Valley. There never has been. Now let’s resume our focus on beating New York Manhattan in being expensive and exclusive, and watch out to make sure Seattle doesn’t creep up on us!

Comments (23) -- Posted by: burbed @ 5:11 am

August 1, 2009

The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

It’s Saturday. Time for Burbed’s book of the week!

The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job

Fortune Magazine states, 97 out of 100 self-made millionaires made their fortunes through Real Estate Investing, and the next 10 years will be a Golden Era for the informed Real Estate Investor. If you are saying to yourself That sounds great but I can t quit my job and begin investing full time. I ve got bills, kids in school, car payments, and a mortgage to support, you re in luck. This new book is for you! You will learn how to become a skilled professional Real Estate Investor who can generate thousands, and yes, even millions of dollars, in your spare time. Unlike starting a retail business where you need to be there every day, you can work a full-time job and invest in real estate on the side, and reap huge profits. The key is time. The real estate investing business is a perfect part-time business because real estate is a business where the assets appreciate and cash flow is generated even when you are absent. This new book will give you the information and advice necessary to buy, finance, and successfully manage a small number of positive cash flow producing properties in your spare time. Investing in real estate is one of the safest and smartest investments you can make. Real estate appreciates at a rate far greater than the rate of inflation, builds equity, provides a steady return on investment, provides cash flow, and can offer substantial tax benefits. With the sound guidance in this book you will be able to retire comfortably and EARLY! A sampling of what s covered in this encyclopedic book includes: how to find below-market deals, investing with little or no down payment, seller financing, foreclosures and REOs, investment property, negotiating, purchase offers, managing rental property, flipping, auctions, tax sales, financing, mortgage terms, agents, cash flow, inspections, contracts, tenants, lease agreements, insurance, taxes and accounting, escrow, essential mathematical calculations, sample forms, development, taxation, exchange rules

Let’s face it, most average tech employees have tons of free time. You get to work at 10, you leave at 5, and you play tons of foosball in between. (What? You don’t?)

Why not use that time to become rich? In your spare time, you can be dealin’ and wheelin’. Just like how you were day trading back in 1998! Nothing could possibly go wrong!

What’s notable is that all the reviews are positive. So… that definitely means this is a good buy.

And when you do become wealthy from this part time endeavor, please help this site out, click this link to learn more!

Comments (23) -- Posted by: burbed @ 5:24 am

July 26, 2009

U.S. apartment vacancies near historic high: report – Yahoo! News

U.S. apartment vacancies near historic high: report – Yahoo! News

The U.S. recession has taken a toll on the U.S. apartment market, which largely relies on employment growth to fuel demand. Its largest tenant group, 18- to 24-year-olds, has been hardest hit by rising unemployment.

Meanwhile, the apartment buildings sector has led all commercial real estate categories on loan defaults. Second-quarter asking rent fell 0.7 percent from a year earlier to $1,040 a month, and 0.6 percent from the prior quarter, the largest single quarterly decline since Reis began tracking quarterly data in 1999. When free months of rent and other incentives landlords are using to lure tenants are factored in, effective rent was down 1.9 percent from the prior year and 0.9 percent from the first quarter to $975, Reis said. “If you’re a landlord right now at least you’re recognizing that things are tough,” Calanog said.

To maintain occupancy, many landlords, including Equity Residential, Apartment Investment and Management Co, AvalonBay Communities Inc and Mid-America Apartment Communities Inc, have sacrificed rental income and boosted concessions. For example, in New York, the largest U.S. apartment market, vacancies fell 0.5 percentage points to 2.9 percent, despite a 1.7 percent decrease in rent to $2,679 compared with just the prior quarter and a 4 percent fall compared with last year. “It’s very clear there’s some leasing going on, but it’s coming at the cost of a whole lot of concessions offered,” he said.

In other areas, such as Las Vegas, San Francisco and San Jose, California, effective rents dropped more than 2 percent from the prior quarter. Nationally, the picture may grow worse as the year progresses as Reis expects more than 100,000 units from new construction to come onto the market by the end of the year. Some 47,000 units have already come on line this year.

“With general expectations of an economic recovery pushed back to early 2010 at the earliest, it seems likely that apartments will have to endure a few more quarters of distress, lower rents and higher vacancies,” Calanog said.

Thanks to Burbed reader Herve for sending this in. I hate to say this though, but this is very misleading. You see, landlords haven’t really dropped the rent by 2% due to the poor economy here – they’re just dropping to rent to grab marketshare. As we all know, the #1 metric of success in business is marketshare and mindshare – this is Silicon Valley after all.

So please don’t be fooled. You may be thinking “lack of profit = bad” – but that’s last century thinking. In this New New New Economy, the paradigm has shifted. This would be even better if the landlords took on a big stack of debt to help gain even more marketshare! Debt = wealth!

Comments (17) -- Posted by: burbed @ 5:23 am

July 25, 2009

Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security

It’s Saturday and that means it’s time for another Burbed book recommendation!

Stop Sitting on Your Assets: How to Safely Leverage the Equity Trapped in Your Home and Transform It Into a Constant Flow of Wealth and Security

FROM THE BACK COVER: Are you caught up in the financial thinking of the last century? That’s when we learned to buy a home and pay it off as quickly as possible. It made sense in the conditions that existed back then. It doesn’t make sense today. How would you like to: 1) Safely leverage and compound assets you didn’t realize you had? 2) Become your own bank and build family wealth? 3) Pile up stock market gains, but never take the losses? 4) Lock-in a rich, secure and carefree retirement? 5) Transform the IRS into your wealth-building partner? 6) Create real wealth, empowering you to help others? 7) Get to your existing retirement funds with little or no taxes? 8) Leave a fortune to your heirs? STOP SITTING ON YOUR ASSETS make these strategies crystal clear — and you can apply them with security and ease. If you own a home, you owe it to yourself to know about today’s new reality: You are sitting on a potential fortune that can safely and confidently be put to work to build a massively abundant financial future. A future so rich that — before STOP SITTING ON YOUR ASSETS — could have only existed in your dreams.

Heh. I love the pun. Assets. Heh.

It’s another Saturday, and another book that pleads with you to load up on debt. There are so many books that recommend you do this, that it must be a solid strategy that you should follow – otherwise why would these authors write them, why would publishes publish them, and why would consumers snap them up?

Looking through some of the other reviews, apparently it has some great tips on how to co-mingle your life insurance and your mortgage together. Intrigued? Buy it and retire wealthy!

And when you do become wealthy, please help this site out, click this link to learn more!

Comments (2) -- Posted by: burbed @ 5:01 am

July 23, 2009

Can someone help Jennifer Hu with Century 21 Su Casa and Mariposa Mortgage?

Kulwinder Singh, Su Casa, and the $2,500 condo | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com
Jennifer Hu Says:
July 22nd, 2009 at 2:25 am

A similar situation happened to me. I was tricked into “having a house under my name for a few months”. And all of a sudden found out I owned 1 house and 1 triplex in Stockton. I never signed or saw any documents and now they have gone under forclosure. The people who scammed me were Simon Dante Lopez Jr. from Mariposa Mortgage and Pete and Anna Flores from Centry21 Su Casa. They lied about my income, and also said i worked for one of the centry21 Su Casa “fake business” like a trucking company! Where can we get help and justice! Now my credit is ruined and I have Tax issues. If there is anybody out there to help, please reply if anybody can help me I’d appreciate any advice.

Now, that’s what Jennifer alleges. But let’s assume this is true.

In the Bay Area spirit of everyone helping out everyone else – does anyone here have thoughts on how to help Jennifer out?

Comments (12) -- Posted by: burbed @ 4:24 am

July 19, 2009

San Francisco, San Jose, PMI, Risk Rank, Appreciation Volatility

Here’s some data I captured from the PMI website:

MSA San Francisco-San Mateo-Redwood City San Jose-Sunnyvale-Santa Clara New York-White Plains-Wayne
Risk Rank Elevated High High
Risk Index 2008 Q4 31.6 51.4 67.6
Risk Index 2009 Q1 66.2 78.4 87.8
Price Appreciation Volatility 15.4 18.7 14.4
Price Appreciation 2008 Q4 .17 -18.36 -2.13
Price Appreciation 2009 Q1 -17.02 -4.43 -6.00
Affordability Index 2008 Q4 118.38 112.75 85.60
Affordability Index 2009 Q1 129.85 132.34 97.19
Unemployment Rate 2009 Q1 8.0 10.2 7.9

We’re number 1! We’re number 1!

Congrats to the Bay Area for continuing to be more unaffordable than NYC Metro – while having a higher unemployment rate to boot!

This is one of those moments that we should all be so very proud of.

Great work everyone!

Comments (52) -- Posted by: burbed @ 5:01 am

Why does Orange Juice cost 75% more in San Jose?

Cost of Living: How Much For a T-Bone Steak? – Slideshows – CNBC.com
Orange Juice

High Price — San Jose, Calif.: $5.73
Low Price — Los Alamos, N.M.: $2.50
National Average: $3.27

Thanks to Burbed reader Ek for this find.

People outside of the Bay Area probably wouldn’t understand this – but the fact is that the orange juice is much fresher and tastes better when it is had in San Jose. The perfect weather, the perfect air, the perfect people all combined to make this orange drink even oh so refreshing. In fact, it’s 75% more refreshing!

Comments (2) -- Posted by: burbed @ 4:36 am

July 18, 2009

Roll over your IRA/401k into Real Estate

Burbed reader Sue was at the Menlo Park fair and she noticed this:

mpfair

This is what she had to say:

Gotta love the con artist and his bimbo. Oddly, they weren’t getting much business!

Hey, as we all know, stocks can lose money. But Real Estate? That’s a can’t lose in the long run. It doubles every 10 years whereas the stock market? Who knows!

Thanks Sue for the find!

Comments (22) -- Posted by: burbed @ 2:32 pm