April 27, 2018

Speaking of Fire Sales, Here’s One in Willow Glen

High house prices have you down? Well here’s some great news for everyone. The houses aren’t what’s high priced. It’s the LAND.

Burned out property in Willow Glen sells for over $900K

KTVU
POSTED: APR 18 2018 03:08PM PDT, UPDATED: APR 19 2018 11:21AM PDT

SAN JOSE, Calif. – A burned out home, and the property it sits on, in San Jose’s Willow Glen neighborhood is in contract for more than $900,000 and is expected to close in 10 days.

The home, which hit the market last week, was originally listed for $800,000. The realtor said the asking price was reasonable given the housing market and its location.

Realtor Holly Barr said the value is in the 5,800-square-foot lot — not the house.

The asking price was reasonable? Let’s take a look at what you’re getting.

1375 Bird Redfin

1375 Bird Ave. SAN JOSE, CA 95125
Listed at Price: $799,000
Beds: —
Baths: —
1,066 Sq. Ft.   $750 / Sq. Ft.
Redfin Estimate: $1,003,089
On Redfin: 15 days
Status: Pending
Property Type: Single Family Home
Community: SAN JOSE
County: Santa Clara
MLS#: ML81700339
Built: 1976
Lot Size: 5,850 square feet

Barr said she received 6 offers, all of them all-cash. Here she is proudly posing next to her sale on her aptly named Facebook page, Willow Glen Charm.

Realtor Holly Barr with burned down house she sold

Remember one of our Burbed catchphrases, “Value is in the land”? Well the value was also in that lovely house. If it had been scraped off, anyone wanting to get a loan on the property would have to put 50% down. Then again, since all the offers were cash, it didn’t make any difference.

Another view of 1375 Bird Ave

San Jose real estate: hot, hot, HOT!

Comments (3) -- Posted by: madhaus @ 6:18 am






April 26, 2018

We Did It Again! Record Home Prices!

Great news everyone! Homes in the Bay Area are now less affordable than ever!

Bay Area home prices soar to new record

San Francisco Chronicle, April 24, 2018

The median Bay Area home price surged to an all-time high of $820,000 in March, up 9.3 percent from February and up 14.7 percent from March of last year, research firm CoreLogic reported Tuesday.

The previous peak was $784,000 in November. The report includes newly built and existing homes and condos sold in all nine counties. For the past six months, the median price has risen 12.8 percent year over year on average.

For the fourth consecutive month, Santa Clara and San Mateo counties showed the steepest year over year gains: 33.6 and 25.7 percent, respectively.


Look how amazing this is: prices in every Bay Area country except Sonoma are up.

And don’t worry about Sonoma, they’re still having that fire sale.

You know what’s even more awesome? Burbed readers who are still renting get to share in the excitement, too! Watch your lease renewal to see how you’ll share in the price climbing fun.

Do you live in a neighborhood where prices are actually going down? Or even staying the same? Let everyone know in the comments, and we guarantee you’ll have lots of visitors very very soon.

And once you get enough, you’ll join in the up, up and awayyyyyy delight of bubblicious Bay Area bargains! Oh my gawd, this is so beautiful.

Comments (3) -- Posted by: madhaus @ 3:18 am

November 28, 2017

Bubblicious Sunnyvale home sells for $780K over asking

Now this is ridiculous: $782,000 over asking for a house in Sunnyvale

The once modest community has become one of the Bay Area’s real estate hot spots

A house in Sunnyvale just sold for close to $800,000 over its listing price.
Your eyes do not deceive you: The four-bed, two-bath house — less than 2,000 square feet — listed for $1,688,000 and sold for $2,470,000.
“I think it’s the most anything has ever gone for over asking in Sunnyvale — a record for Sunnyvale,” said Dave Clark, the Keller Williams agent who represented the sellers in the deal. “We anticipated it would go for $2 million, or over $2 million. But we had no idea it would ever go for what it went for.”

$2.5M crapbox. In Sunnyvale. Really.

This house in Sunnyvale recently sold for $2,470,000 — nearly $800,000 above its asking price. Close to tech centers, once modest Sunnyvale has become one of Silicon Valley’s real estate hot spots. (Courtesy/Dave Clark and Keller-Williams)

This delightful news is from a couple months back, but why not savor this wonderful event? This house sold for more than “not a lot of money” over the overly modest asking price. Remember when asking prices were called “wishing prices” back in 2009? If amazing results like this keep happening, we’ll have wishing prices back even sooner than you think!

Discuss among yourselves.

Tags:
Comments (28) -- Posted by: madhaus @ 6:13 am

November 9, 2015

The one true unicorn: Palo Alto

 

 

829 La Para Ave
PALO ALTO, CA 94306
$1,998,000 Listed at Price
1 Bed
1 Bath
180 Sq. Ft.
$11100 / Sq. Ft.
Built: 1930Lot Size: 6,886 Sq. Ft.On Redfin: 25 daysStatus: Contingent

829lapara

Exciting opportunity to build your dream home in charming Barron Park neighborhood. Quiet streets in an established community. The neighborhood is home to Bol Park, bike paths, close to top Palo Alto schools, Stanford University and California Avenue with restaurants, the farmers’ market, and shopping. City of Palo Alto allows for above ground max floor area of approx. 2,816 sqft not including possible basement addition (buyer to verify with city).

Whoops, it looks like I was a bit slow on this one!

Can you blame me? Every day there’s another unicorn popping up. Money is overflowing! It’s hard to keep track when every house is going up 100% per year!

This Palo Alto house represents the best of Silicon Valley growth. From just 180 sqft  for $1.998M, this will inevitably rocket to a 2816 sqft house that will be valued at $30M.

It’s only a matter of time before houses in Silicon Valley also become unicorns and reach the $1B price.

The only question is – how can we make this happen even sooner?

So, my question to you is this: What are you doing to help The Real Bay Area™ house prices climb even higher?

Comments (83) -- Posted by: burbed @ 5:53 am

October 16, 2014

Congrats to Mountain View–median home sale price now a million!

20141016a

Congratulations Mountain View!!

2015 – $2,000,000.

I know you can do it!

Click here to post a comment -- Posted by: burbed @ 5:01 am

October 13, 2014

Do you like Victorian homes? You’ll love this one in San Jose!

435 S 7TH St
San Jose, CA 95112
$499,000
Price 
4 Beds 
2 Baths  2,176 Sq. Ft.
$229 / Sq. Ft

20141013

Less than a block from San Jose State University. House is damaged by Fire. Value is in the land. Huge potential for a Contractor or Investor who will like to own a Historic Grand Victorian. Imagine the Possibilities.

Do you like Grand Victorian homes? Well if you do, you’re in luck! Check out this specimen!

Oh wait… value is in the land. And as we all know – they’re not making any more of that! Plus it is in Downtown San Jose! Woot!

Well, let’s imagine the possibilities… What would you do with this fantastic deal?

Comments (3) -- Posted by: burbed @ 5:47 am

September 8, 2014

Mountain View houses reach healthy price finally!

1453 LLOYD Way
Mountain View, CA 94040
$1,395,000 Price 
3 Beds 
2 Baths  1,246 Sq. Ft.
$1,120 / Sq. Ft.
Built: 1954 Lot Size: 5,160 Sq. Ft. On Redfin: 4 days Status: Active

20140908
Charming!! Hardwood floors new interior paint newer roof double pane windows! Light and bright w/ sunny southern exposure big lot, lots of grass to play Opportunity to update to your style! Prime location–quiet street–Top Los Altos schls, walk to coffee pharmacy bagels Castro St shops restaurants nightly entertainment library parks pool & Caltrain! Easy to downtown Los Altos and all of its events!

$1,120 per square foot!

Finally, Mountain View homes have reached the healthy price that they were destined to. And let’s be frank – this house offers so much, like the ability to “play Opportunity” to update to your style.

Can you think of any other homes that allow you to update them? It’s impossible!

It even has nightly entertainment library parks, and coffee pharmacy bagels! Yum, yum! Fusion cuisine at its best!

Let’s not forget all those downtown Los Altos events… such as…. (uh… could you please fill those in, in the comments section?)

Comments (16) -- Posted by: burbed @ 5:39 am

August 25, 2014

This Palo Alto home sold for $1.3M. You won’t believe what it is next to.

2411 MIDDLEFIELD Rd
Palo Alto, CA 94301
$1,300,000
3 Beds 
1.5 Baths  1,414 Sq. Ft.
$919 / Sq. Ft.
Built: 1947 Lot Size: 6,380 Sq. Ft. Sold On: Aug 22, 2014 Status: Sold

20140824a

Looking for a project? Opportunity for total remodel or new construction * Midtown location * Easy access to freeway * Large lot *

Thanks to Burbed reader RE for pointing this out a few weeks back.

“Looking for a project?” Isn’t everyone in the Real Bay Area since we’re all entrepreneurs? Now this is a project!

The insides have all the makings of a $1.3M house:

20140824b

Purple cabinets? Check. A range that looks like it is sliding away? Check. A refrigerator that’s… uh… there? Check.

20140825c

 

Bathroom with a shower? Vintage! Adds more value! Check.

Great. Lots of award winning features.

Now, what’s this about easy access to freeway?

2010825d

Well, being at the corner of Middlefield and Oregon Expressway, you really can’t quibble with that claim. I mean, it really is close to the freeway.

But being that Middlefield is perpetually backed up, just how would you even leave your driveway?

I guess it doesn’t matter because… well… this house is sold. I hope you act faster next time!

Comments (23) -- Posted by: burbed @ 5:59 am

August 18, 2014

House in Cambrian Park with free street art

3224 KILO Ave
San Jose, CA 95124
$820,000 Price 
4 Beds 
3 Baths  1,860 Sq. Ft.
$441 / Sq. Ft.
Built: 1954 Lot Size: 5,100 Sq. Ft. On Redfin: 4 days Status: Active

20140817

Bank Owned Property!!!Great Cambrian home in a very popular location. Excellent Schools. Hot tub in the back yard. Double pane windows. Very bright inside. Spacious living room. Laminate hard wood floor at the living room and the hallway. Large kitchen with breakfast room. All three bathrooms are remodeled. The garage is converted to a room without a permit. Two of the bedrooms have walking closets

Here’s what Burbed reader TF had to say:

Not sure if this is a real listing or not. the price is absurd for this crappy neighborhood (good, schools, though). Love the black spraypaint used to cover the graffiti on the yellow garage. Conversion of the one car garage was unpermitted, of course. Maybe the laminate flooring will bring in multiple offers over asking price?

I believe that’s known as street art. In fact, it might have been the kind of street art that leads to multi-million dollar riches like David Choe.

Sadly, it’s been painted over. Maybe if you buy the home, the owner will help you find the artist!

It appears that there may be some street art in along the walls/floors inside the house as well:

20140817a

Ooh. So edgey! So gritty! You could totally host a bunch of hackers here, crushing the next disruptive innovation.

20140817n

Huh. Maybe someone’s been hacking here already.

In any case, to answer your implied question TF – yes I do believe this is a real listing. In fact, it’s a real opportunity for you to strike it rich!

Comments (4) -- Posted by: burbed @ 5:27 am

August 11, 2014

Milpitas house with potential garage

222 AUTREY St
Milpitas, CA 95035
$549,000 Price 
3 Beds 
1 Baths  1,122 Sq. Ft.
$489 / Sq. Ft.
Built: 1958 Lot Size: 5,922 Sq. Ft. On Redfin: 16 days Status: Active
20140810a
This home has potential garage has been converted/with out warranty, no permits for additional, bedrooms Please don’t disturb tenants This is a Short Sale shows well.

Here at Burbed, sometimes it feels like we’ve just about everything.

And then there’s this.

The photo. Was this from a VHS tape shot while driving by? Why is it so blue? And… uh… why?

How does this house have a potential garage? Shouldn’t that be obvious?

But you know what?

This is exactly the kind of disruptive innovation we look for here in the Real Bay Area.

You had no choice but to stop and look at this listing – because it is the Purple Cow.

What will you do with this innovative listing?

Comments (9) -- Posted by: burbed @ 5:02 am