Many many moons ago…

$1.5 million dollar house rents for $3975 a month | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com
July 11, 2007
$1.5 million dollar house rents for $3975 a month

Burbed reader E.V. spotted this:

Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB
$3975 / 6br – Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB (gilroy)
Reply to: hous-370156683@craigslist.org
Date: 2007-07-09, 2:28PM PDT

THIS HOME HAS IT ALL…Only 6 years old, it is loaded with two balconies, one that looks over a Pond on the 5th. tee.

Professional Kitchen with cherry wood cabinets throughout, Viking 6 burner stove, Sub-Zero refridgerator, with no home on the back or side yard.

Brand new swimming pool, tennis courts, elementry school, 8 1/2″ crown moulding and wainscoteing everyware.

Hardwood floors granite kitchen and each bedroom has its own private bathroom.

Beautiful views of every room in the home.

This home would sell for $1,500,000 but we have decided to keep it for the young children when they become adults. AVAILABLE AUGUST 1st.

Call for a private showing at 408/210-7740 and ask for Pierce.

2420 muirfield way, gilroy, ca 95020 at club drive at santa thersa ave google map yahoo map

Since then, a lot has changed. Gilroy is no longer in the Real Bay Area. Strawberry and Garlic pickers are no longer being offered $700k mortgages.

Long time Burbed reader E.V. recently notified me of this listing:

Egads! Sorry Gilroy – it looks like your readmittance for Real Bay Area status is not likely for 2009. Perhaps 2010?

Coldwell Banker Residential Brokerage presents CaliforniaMoves.com
296 CARLYLE CT
Gilroy, CA, 95020 offered at $249,900

Stop SlideshowStart Slideshow

Bedrooms: 3 Bathrooms: 1 Full
Apprx. Sq. Feet: 1123 Year Built: 1972
Request More Info Schedule A Showing

Great Starter Home. Large Corner Lot with access to Backyard from Street. Walking Distance to Neighborhood Park. Vaulted Ceiling and Fireplace in Living Room. Covered Patio off Kitchen. Conveniently located to shopping centers and Easy Access to Highway 101. Lots of Potential.

Even though we all know that Gilroy is no longer part of the Real Bay Area (if even the Bay Area itself!), Burbed doesn’t really feature it so often.

That said, Burbed reader Jackie did find this great starter home. Wow what a beaut!

To all you RE investors – is now the hot time to buy here? Will Gilroy be the next Foster City? What appreciation should we expect?

7430 Rogers Ln, Gilroy
$380,000

* Status: Active
* Bedroom: 3
* Bathroom: 2
* Year Built: 1983
* Lot Size: 3484
* Square Footage: 1204
* List Date: 2/15/2008
* Garage Spaces: 2
* MLS#: 778845
Description of 7430 Rogers La, Gilroy
Single family attached with 2 car garage. Bay window-needs some TLC and you got a beauty.

Yeah yeah I can hear it already: “But Burbed, Gilroy isn’t in the Bay Area!”

I know, I know.

But I thought it’d be fun to revisit Gilroy – it’s been over a year since Gilroy week!

Personally, I think this house has a certain charm. I like how it segues into a pink house, from a yellow house – kind of like a vanilla and strawberry ice cream mix. Yum yum.

Sure Gilroy isn’t in the Bay Area anymore, but really – where else can you go to get a house like this?

MLS-2.com: Property Details
1279 AYER DR, Gilroy,CA,95020 – $609,999

Total 7 photos: Previous Next

3 Beds 1512 Sq.Ft. Aprx. 2 Car Garage MLS#: 762193
2.0 Baths 7,840 Lot Size 28 Yrs Old Aprx. List Date: 2007-11-09

What’s new on MLS-2: Search by % Price Drop // Search by “MOTIVATED SELLERS”

Description – 1279 AYER DR, Gilroy,CA,95020
HOME FOR THE HOLIDAYS!!! LOVELY HOME IN GREAT NEIGHBORHOOD! SPACIOUS 1,512 SQ.FT.HOME ON A LARGE 7,841 SQ. FT. LOT. LIGHT AND BRIGHT OPEN FLOORPLAN. MASTER SUITE WITH BATH.GRANITE COUNTERTOPS IN KITCHEN AND BATHS. HUGE REAR YARD WITH STORAGE SHED. PERFECT FOR THE GROWING FAMILY!

At first I was drawn to this house because of the additional parking – I mean look, you can park on the lawn. This means that the house isn’t under control of some evil HOA – you have freedom to do whatever you want at this house. Absolute freedom. Celebrate America by buying this house.

By the way, this house was last sold on 4/26/2006 for $686,000 – so you’re also getting a great deal! This is clearly the bottom, buy now and ride the prices back up! Back up to the lawn!

MLS-2.com: Property Details
7249 DOWDY, Gilroy,CA,95020 – $499,900

Total 2 photos: Previous Next

2 Beds 864 Sq.Ft. Aprx. No Garage MLS#: 759167
1.0 Baths 6,969 Lot Size 55 Yrs Old Aprx. List Date: 2007-10-23

What’s new on MLS-2: Search by % Price Drop // Search by “MOTIVATED SELLERS”

Description – 7249 DOWDY, Gilroy,CA,95020
Investors special! You have to see it to believe it. Freshly painted. New carpets coming later this week. Ready for your renters. Non-conforming separate living unit (3/2) in back detached 2-car garage with individual access. R-3 zoning. Large lot with alley access, ample parking area, front and rear lawn areas, private patio, and much more. Not a short sale! Bank owned.

Haha. I bet you thought this was an unbelievable deal in the Bay Area – fooled ya!

It’s still a pretty good deal, after all, Gilroy used to be in the Bay Area – and it might be allowed back if it is able to abide by the Bay Area Code of Conduct (Rule #1: Never lower your home prices.) Maybe in 2010?

But for now, this house was last sold waaaaaaaaaaay back when in August 21, 2007 for $536,135.

Great deal if you ask me. Not to mention that this house is ready for your renters!

MLSlistings Property Detail for MLS number 724910
7600 WREN AV
Gilroy, CA 95020
$599,000

This Single Family Residence has the following features:
MLS#: 724910 Approx Age: 32 Years Approx Sq Ft: 1424
Detached Single Family 1 Story 3 Bedrooms
2 Bathrooms 2 or More Stall Showers 1 Shower over Tub
1 Tub Separate Family Room Laundry Area – Garage

There’s nothing particularly wrong with this house – after all, $599k is a great price for a house in savvy Gilroy.

Well, except for the fact that this sold last year for $625,000.

Bubbleheads will quickly point out that this is proof that the Bay Area doesn’t always appreciate. To those freaks, I say “Get real – Gilroy isn’t in the Bay Area!” As we all know, the Bay Area ends at the last Cupertino exit on 85.

(Thanks to Burbed Reader J.C. for this find.)

Burbed reader E.V. spotted this:

Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB
$3975 / 6br – Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB (gilroy)
Reply to: hous-370156683@craigslist.org
Date: 2007-07-09, 2:28PM PDT

THIS HOME HAS IT ALL…Only 6 years old, it is loaded with two balconies, one that looks over a Pond on the 5th. tee.

Professional Kitchen with cherry wood cabinets throughout, Viking 6 burner stove, Sub-Zero refridgerator, with no home on the back or side yard.

Brand new swimming pool, tennis courts, elementry school, 8 1/2″ crown moulding and wainscoteing everyware.

Hardwood floors granite kitchen and each bedroom has its own private bathroom.

Beautiful views of every room in the home.

This home would sell for $1,500,000 but we have decided to keep it for the young children when they become adults. AVAILABLE AUGUST 1st.

Call for a private showing at 408/210-7740 and ask for Pierce.

2420 muirfield way, gilroy, ca 95020 at club drive at santa thersa ave google map yahoo map

Like E.V. I thought the comment about keeping the house for the young children around kind of amusing. This is one heck of a generous gift!

Assuming you put 20% down, an Interest Only ARM would still be $5,000 a month. A 30 year fixed? $7,388 a month.

It seems to me that there are other investments that may have better returns, but that’s just me.

Oh, BTW, E.V. also found that a business seems to be based out of this house:

Business Name: First Choice Funding Mortgage
Company Type: Mortgage Brokers
Street Address: 2420 Muirfield Way
City: Gilroy
State: California
Zip: 95020
Contact Email:
Phone: (408) 987-2286

What does this all mean? I don’t know.

Coldwell Banker Residential Brokerage
9235 SAGEWOOD CT
Gilroy, CA, 95020 offered at $645,000Bedrooms: 4 Bathrooms: 2 Full
Apprx. Sq. Feet: 1516
Request More Info Schedule A Showing

GREAT HOME IN CUL-DE-SAC ACROSS FROM TOP RANKING SCHOOL. QUIET NEIGHBORHOOD NEW LANSCAPING, LARGE KITCHEN, CABINETS REDONE, BUILT IN DESK, FIREPLACE THIS IS SUCH A QUAINT HOME, IDEAL FOR A DAY CARE. OPEN HOUSE SAT 5/12

Thanks to Burbed reader Jackie for submitting this one. Jackie coyly observed that the main picture of the school sign and not the house. Because, you know… that’s what you’re buying… the school district.

Personally, I’m bemused by the fact that this “quaint” 1516 sqft home is sold as having great potential for a day care. I guess that’s certainly one way to help with the $3574 a month mortgage.

Isn’t homeownership in the Bay Area grand? (Yes, Gilroy is in the Bay Area…)