April 7, 2014

What will you use the special place under this Millbrae house for?

522 CAPUCHINO Dr Millbrae, CA 94030
$838,888 Price
2 Beds
1 Baths
1,020 Sq. Ft.
$822 / Sq. Ft.

20140306522

A lovely ranch home located on a quiet street with refinished hardwood floors. Great floor plan, fully fenced back yard with flagstone patio and a spacious bonus area under the house for storage, laundry, or?? Painted inside and out.

Storage, laundry, or???

Unfortunately, there are no photos of this space – or maybe that’s fortunate!

The imagination runs wild!

You could set up a cool, exclusive, space just for founders! You could build a tech incubator! You could run a server farm to power your own cloud! You could build a man cave! You could… you could… you could…

Don’t let this could turn into a should’ve! Especially given its lucky price.

What will you be doing with this bonus area?

Comments (37) -- Posted by: burbed @ 5:54 am






March 5, 2013

Bay Area Bubble 4.0: Seller Sez Make Me Move from Millbrae

We’ve been calling Bubble on the Real Bay Area for several months.  For the next few days we’ll continue to make the case that the housing bubble in the Bay Area is absolutely unmistakable.  Yesterday, we had a 35% overbid in Prime Palo Alto for a tear-down bungalow on a lot too small for subdivision.  Today, we have an even smaller lot with a return of what we called a “wishing price” when the Bubble was about to pop.  But before it did, we had another name for a WTF asking price.  Let’s see what one would look like in Millbrae.

130304-magnolia-redfin140 MAGNOLIA Ave
Millbrae, CA 94030
$1,100,000

2 Beds
1 Baths
990 Sq. Ft.
$1,111 / Sq. Ft.
Built: 1927
Lot Size: 6,000 Sq. Ft.
On Redfin: 3 days
Property Type: Detached Single Family
Stories: 1
County: San Mateo
Style: Cottage/Bungalow
Community: Highlands
MLS#: 81306376

Charming Two Bedroom and One Bathroom Single Family Home situated on a Lot that is Zoned R-2 (Residential Duplex). This home is located conveniently around the corner from Downtown Millbrae’s Finest Restaurants and Shopping. Great Development Potential, come see this home!

130304-magnolia-shrinkwrapA thousand a foot is a fair price for convenient access to SFO plus two freeways! Plus this is primo real estate photography. At least the agent isn’t snapping pictures in corners like yesterday.

Plus this home is located conveniently around the corner from Downtown Millbrae’s Finest Restaurants and Shopping.  According to Yelp, the Best Restaurant in Millbrae is the Millbrae Pancake House, so we’re talking haute cuisine.  Or at least hot cuisine. 

130304-magnolia-oldlistingNow, this lovely home last changed hands in September 2010, for $675,000.  Aren’t you sorry you didn’t snag it then?  Look at all the instant equity you missed out on!  As you can see from the old listing photo (right), the only improvement done to the home since then was to Photoshop in a better sky.  Also back then the place was “Close to BART, Airport, Freeways and schools.”

Not any longer!  Now it’s just one big Great Development Potential opportunity for you! With a price like this, this is now a Real Bay Area house, therefore the train tracks, airport and freeways must have been relocated.

We hope you realize this is THE SECRET of how to make money in Bay Area real estate:

  1. Buy house not in the Real Bay Area due to its location fail
  2. Eliminate location fail so house moves to RBA
  3. ???
  4. PROFIT!

Remember, a WTF asking price isn’t a Wishing Price unless there’s no chance of getting it. This is a Bubble Price.  This seller is saying, “You want this house? You’re going to have to pay me enough to Make Me Move.”

Comments (10) -- Posted by: madhaus @ 5:06 am

September 28, 2012

Make Mine Millbrae, Take Two

Yesterday, Our Fearless Leader came out of retirement and shared a really Special House in Millbrae.  It was soooo Special that burbed asked me to follow up with this possibly related listing.  So, thanks for sending this one in, Burbed reader burbed.  To, um, the blog you started.  Right.

120927-morningside-redfin821 MORNINGSIDE Dr
Millbrae, CA 94030
$1,258,000

4 Beds 
4 Baths 
2,140 Sq. Ft.
$588 / Sq. Ft.
Built: 2002 
Lot Size: 5,100 Sq. Ft. 
On Redfin: 36 days
Property Type: Detached Single Family
View: Bay
County: San Mateo
Stories: 3
Community: Telescope Hills/Silva Ranch
MLS#: 81231418

4 Bedroom/4 Bath, only 10 years new home with marble and wood flooring, cherry cabinets, granite countertops throughout located in a great school district.

Did you like yesterday’s house?  Well, you’ll just love today’s, because it is right next door and it also new while having the advantage of being time-tested.  This house is even more awesome than yesterday’s, because all you can do is longingly look at the front facade.  There’s not a single shot of the marble and wood flooring, cherry cabinets, granite countertops throughout, let alone the great school district.

120926-morningside-powerlinesThat must mean the staging is so amazing, you’ll need to wait in line for hours just to buy tickets to see it.  And if they hired ILM to stage yesterday’s house, who could be the artiste for this one?  Maybe it’s Peter Bohlin?  Could the landscaping be the work of Lawrence Halprin?  Or is the entire project the genius of Denis Weil?

One thing is for sure: no matter how many computers and servers you have, you should plenty of power to run all of them.

Here’s both homes for you to admire.  Let us know which one you’d rather be trapped in by a million dollar mortgage for the next 30 years.

120927-morningside-streetview-both

“Bunus:“ Same agent representing both houses!  Can you say Buy Two Get Two?

Comments (6) -- Posted by: madhaus @ 5:06 am

September 27, 2012

This new home in Millbrae is unbelievable!

817 MORNINGSIDE Dr
Millbrae, CA 94030
$1,298,000

20120926a

Ah, who doesn’t love the smell of a new home in the morning. And, look, this even comes with an Au-Pair suite! (Translation: Revenue stream opportunity! Pivot today!)

And what a reasonable price of just $601 per square foot. Practically a steal since it is just minutes from SFO where you’ll be going everyday to take your Gulfstream to whatever important business place you are going to. Caymans, perhaps?

Let’s take a look at some pictures of this new home!

20120926b

Huh. Look at that! Who knew that new home developers were putting in race cookers, step stools, water bottles, and frosted mini wheats as part of staging. Already I feel more emotionally bonded to this home! Nice job!

20120926c

Oh, nice work new home stagers! I can totally see myself having a 49er’s loving boy who has lots of hats and… is that a pink pair of sneakers under the bed? And… uh… what’s up with that weird wall fixture? That seems like a waste of space.

Odd choices… but it’s a new home after all.

Let’s look at one more picture of this new home!

20120926f 

Wow. I am absolutely impressed with this staging company. I mean, they’ve made this new home look lived in. How did they find a stained bath math like that to include? Did they even add some wear to the vent?

I am convinced that ILM was the staging company used to make this new home so awesome. ‘cuz, it’s new. Right?

What are your theories?

Comments (27) -- Posted by: burbed @ 5:55 am

April 20, 2012

A condo with a 2 acre lot

88 S Broadway #2203, Millbrae, CA 94030
$698,800

20120418

The bar has been raised. Now, not only is it necessary and sufficient for the price of a property to defy gravity and be astronomically high – it has to violate space/time.

For example, let’s look at this condo that has a $625 HOA. What, you say? A $625 HOA? Surely this must be in SF and include some fine amenities? Uh… well… it’s in Millbrae and it comes with 2 parking spots. That’s kind of close.

But wait… this 1,241 square foot condo comes with a 2 Acre lot.

Wow! Does this condo have doors into the 5th and 6th dimension? I’m not quite sure how this works – but since the Bay Area is only occupied by smart people, there surely must be some who can explain this.

BTW, see how it says 80 days? It really means 8 microseconds. Time… space… it’s all altered.

The paradigm has shifted!

Comments (9) -- Posted by: burbed @ 5:57 am

January 6, 2012

It’s a new parking paradigm

1021 SEQUOIA Ave
Millbrae, CA 94030

$1,070,000

image

Nothing says Millbrae pride like a house with parking.

Now, I know that real estate in the Valley doesn’t have to follow any rules – in fact, we’re outright encouraged to break the rules!

So I think this house excels in breaking the rules of physics. Just how do you fit 3 cars in a garage like that? Shouldn’t it be an even number?

Or, maybe this reflects some new origami practice? Or car elevator! oooh! The mind boggles!

By the way, they’re not kidding about the shed in the back being large:

image

What a green, green, lawn!

Comments (9) -- Posted by: burbed @ 5:12 am

December 28, 2011

Opportunity is Here! Lowest price single family home in Millbrae.

50 MATEO Ave
Millbrae, CA 94030

$299,000

image

Didn’t get what you wanted for Christmas? Well here’s your chance! Look at this deal! Most of us could charge this on our Centurion cards, right?

Let’s take a look at some of the fine interior pics:

50 MATEO Ave, Millbrae, CA 9403050 MATEO Ave, Millbrae, CA 94030

50 MATEO Ave, Millbrae, CA 9403050 MATEO Ave, Millbrae, CA 94030

Wow, talk about #winning! Unfortunately, the Iraq War is now over – so references to Fallujah and etc are now over. What would be a good modern day comparison for this house?

In any case, at $650 per square foot, this house demonstrates the awesome power of the Bay Area. Maybe you could buy this and create your new social, gamification, hyper local, daily deal, analytics, heroin shooting gallery! Just think of the potential! It’d be so addictive and viral! You could call it BlackTarr.com. (Please remember me for Friends and Family Shares. Thanks!)

Comments (12) -- Posted by: burbed @ 5:14 am

December 2, 2011

Millbrae Condo Dreamin’

Let’s visit Millbrae again, because it needs some Burbed love.  Simply mentioning it in passing because its zip code was the 366th most expensive in the county will not do for keeping Millbrae in our sights.

Fortunately, Burbed Reader Paul has found us a wonderful wishing price washout, showing what happens when sellers expect a particular price and the market fails to comply.  Thanks very much, Paul!

1388 BROADWAY #186, Millbrae, CA 94030
$599,000

image

BEDS: 2
BATHS: 2
SQ. FT.: 1,147
$/SQ. FT.: $522
LOT SIZE: –
PROPERTY TYPE: Condominium
STYLE: Contemporary
STORIES: 1-3 (Low Rise)
VIEW: Neighborhood
YEAR BUILT: 2009
COMMUNITY: Millwood
COUNTY: San Mateo
MLS#: 81141887
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 61 days

Sophisticated living in the heart of Millbrae. Built in 2009, this Garden Level 2br/2ba condo offers approx 1147 sqft of living space. The gourmet kitchen is decked out with beautiful granite counter tops and backsplashes and a myriad of energy-efficient features. The interior is spacious and full of light. Common areas include multiple landscaped courtyards, a spa, barbeque area, & gym.

imageWhen Paul first sent this listing in, the asking price was $628,000, so after a month, with great trepidation, the sellers decided to cut the price all the way to… $615,000.  This did not lead to a packed Open House, flyers going through windows, and overbidding bringing offering prices right where they need to be.  So our dauntless sellers, guided by their brilliant and knowledgeable agent, took another deep (2.5%) price cut to the bone!  $599K!

Here’s how Paul described it:

Hey, the folks just down the street at 151 El Camino are selling new units in the $600s—we should get AT LEAST as much! Just because we bought near the market peak doesn’t mean we can’t walk with $100k of profit today! And besides, we have 2 parking spaces to their 1 (which you’ll need because it’s too far to walk to BART).

imageI chatted with the agent and he confirmed that the sellers were pretty clear on the price they wanted to list at… best of luck to them. Maybe they find a willing victim in the low $500s?

Paul should have mentioned that the $525,000 sale was in 2009.  Everyone knows that was a market low, and it’s completely reasonable to expect a $100K $74K profit from the year the credit dried up.

Also I really like this picture of the kitchen, with the mid-oughties trifecta of granite, stainless, and hardwood (or at least Pergo).

Comments (7) -- Posted by: madhaus @ 5:09 am

October 11, 2011

I’m breaking up with Millbrae

Today’s Guest Blog is a feature by Burbed reader Divasm!  Thanks very much for this passionate post complete with onsite photos in the location, location, location setting of Millbrae.  So close to the airport, so convenient to international travel, and just minutes from SFO!

Remember, we love guest columns at Burbed (less work for us!) so if you have a listing you want to do justice to, you too can be on the front page!  Our contact info is at the top of the right column.

Waaaaaaay over here ————————————————————————————————————————->

And now, stop your typing and mousing and put your hands together for Divasm!


 

987 VISTA GRANDE Ave, Millbrae, CA 94030
$849,950

image

BEDS: 4
BATHS: 3
SQ. FT.: 2,080
$/SQ. FT.: $409
LOT SIZE: 7,200 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1953
COMMUNITY: Highlands
COUNTY: San Mateo
MLS#: 81139349
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 26 days

Large 4 Br, 3 Bth home with spacious family room with full bar, on large lot. Kitchen has been updated, as have all 3 bathrooms. New carpets and painted interior. Green belt view from large picture windows in living room. Large attached 2 car garage with a large side room used as a work shop, and another side room for storage.

Dear Millbrae,

After last weekend’s round of open houses, we need to talk. Your proximity to San Francisco, your highly-scoring schools, all made you seem so attractive on the surface. You’re not as stuffy or pricey as Burlingame, not as ghetto as South San Francisco, not as housing tract-y as Daly City, and there’s no major gas pipeline activity (well, no more than normal). Perfect, right?

frontofhouseWRONG. I’ve tried and tried to make this work! I’ve been to open houses so close you can hear 280, and so near to El Camino you can smell the fast food. Houses priced comparably low because they’re right next to Capuchino High School (yet your kids go to Mills, because Capuchino is the low-scoring San Bruno school), and houses priced absurdly high for being on a major street…but oh wait, it’s Trousdale.

stairwayThis last one on Vista Grande wasn’t a spectacular failure, it was just another stupidly priced for it’s bad layout house. But somehow I can’t take it anymore. WHY are you charging $849,950 (was $849,000 but they upped it that 950…why not 888, I ask?) for a house that looks like every house in Daly City on the outside? On a street that is super narrow with a view of the airport?

And what is with that Winchester mystery house stairway leading to a brick wall at the bottom with a metal plate that opens to a cubby in the wall? MetaldoorAnd then, the piece to resistance, off that stairway, that wood-paneled, linoleum-tiled, rock-lined disaster of a room…what IS that? From one side it looks like someone’s sick idea of a dojo, then we see the bar and sports on the TV and think somebody’s trying to open a club in their basement…WTF is THAT, Millbrae, huh???

Regardless, I didn’t stick around to check out the power lines over the steep backyard or compete with the many buyers on cell phones to foreign investors, I simply threw up my hands and left. For good this time, Millbrae, I mean it.

Oddroom

Comments (24) -- Posted by: madhaus @ 5:04 am

September 5, 2011

How many 8s does it take to cancel a 4?

I’m delighted to invite Burbed reader Divasm back to the front page as today’s Guest Blogger.  Unlike all the many deluded sellers out there with wishing prices straight out of 2006, today’s home has had not one, but two price reductions since this piece was first sent in!

Please give Divasm a big, warm Real Bay Area welcome, with this rather, um, interesting-looking listing from SFO del Sur, or as it’s called on Google imageMaps, Millbrae!

One more thing: Yeah, I know it’s Labor Day today.  So what?  You should consider yourself fortunate if you still have a job.  Why the hell do you expect a day off, too?  Do you see THIS BLOG taking a day off?  Damned communists!  I’m sure there’s someone in an offshore telecenter someplace who’d be delighted to mangle most of your job responsibilities for eighty cents an hour.

Now get back to work!


200 PALM Ave, Millbrae, CA 94030
Was $1,488,888, then $1,148,888, now $1,098,888

image

BEDS: 3
BATHS: 2.5
SQ. FT.: 2,100
$/SQ. FT.: $523
LOT SIZE: 5,760 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Spanish
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1935
COMMUNITY: Highlands
COUNTY: San Mateo
MLS#: 81133416
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 35 days

Spanish style home with large master bedroom suite addition. Features family room , large yard , three car garage , large yard with deck. Dual paned windows, hardwood floors , close to downtown and schools.

photo 2I had the pleasure of visiting this million-plus-dollar mansion (well, 3/2.5, 2100 sq feet actually) recently at an open house. I had to see for myself if this abode in Millbrae, originally listed at 1,488,888 (recently lowered to $1,148,888) was really worth that much more than Zillow’s median of $933k.

imageWell, the bad news is there’s no bidet. But, the agent on site was quick to tell everyone that almost everything in the house is new or redone, and to prove it, there are blueprints and specs on the dining room table for your perusing pleasure, which prove that the teeny tiny kitchen you see in photo 5 of the listing (right) is actually new!

photo 3And that spacious backyard? State of the art basketball court, look for yourself! But even better, they don’t even mention that the utility room doubles as an office!

photo 4

It’s clearly a mystery why this place hasn’t sold yet, especially with all those 8s in the price…unless…it’s the 4! Everyone knows 4s are very bad luck, if they just raise the price to $1,888,888, it should move immediately. That’s my prediction, you heard it here first.

image

Update: Hey, price just went down again on this house – it’s now 1,098,888. Two price reductions in a month! It would have been so much better if it had stayed at 1,488,888 though, that’s just obscene.

photo 1

Comments (15) -- Posted by: madhaus @ 5:09 am