June 17, 2010

Breathtaking panoramic views — AS IS

Want a private and spectacular estate for less money than yesterday’s building pad farm?  You can’t have it.  It’s been delisted.

10264 MERKLEY Row  San Jose, CA 95127
$1,199,900

image

BEDS: 5
BATHS: 4.5
SQ. FT.: 4,416
$/SQ. FT.: $272
LOT SIZE: 2.22 Acres
PROPERTY TYPE: Detached Single Family
STORIES: 2
VIEW: Mountains, Neighborhood, Valley, City Lights
YEAR BUILT: 1990
COMMUNITY: Alum Rock
COUNTY: Santa Clara
MLS#: 81024704
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 5 days

* BANK OWNED/REO * Private, grand and elegant gated estate nestled on an approximately 2.2 acre parcel w/ breathtaking panoramic views of the Santa Clara Valley floor and neighboring mountain ranges. Large open rooms, guest quarters, library/office and a large master retreat. All non all cash offers must be accompanied by a Bank of America pre-qual. AS IS sale!

image Today’s non-listing has plenty of questions it doesn’t want to answer.  Maybe the readers of burbed can figure them out!

Why was this lovely property taken off the market?  The homedebtors paid $1,715,000 for it at the peak of the market for non-RBA properties.  Then some trust fund snapped it up from the bank last December for $775,625, which is probably what was owed on the mortgage.  Here’s the really weird thing.  The property was listed on May 18th and delisted on May 25th.

What flavor of Kool-Aid made this property worth $1.7M in 2006?

image What did the FBs do to the place that the property was being sold AS IS?  The house was built in 1990-91 with a quality level of 9.0, so this is not new but incomplete construction.  Perhaps we are talking about new and incomplete destruction.

Is the location so non-RBA that the high quality of the construction and the private, grand and elegant gated estate nestled on 2.2 acres with breathtaking panoramic views comes down to lipstick on a pig?

How come only Bank of America pre-qualifications were acceptable on this foreclosure?  Is this some kind of inside job?  Is there a whiff of funny business to this property?

Why is the Trulia listing only for 4416 sf but the Redfin one presents 5227?  Is that why the property was AS IS?  Are we to believe that someone bought a 4400+ sf property on 2+ acres and decided it wasn’t big enough?  And that they then managed to wreck their financial health by adding to a gated estate in Alum Rock?  But they didn’t bother getting any permits?

image

Is this place sold but secretly?  How did they manage to sell it with this out of focus picture?  Is it still on the market?  Where did the extra 800 square feet go?

Good luck answering these questions, especially why you cannot buy this property today.  Or whether you should have bought it in May to grab the state tax credit. Or if you’ve been – TOO LATE – priced out forever.

Comments (32) -- Posted by: madhaus @ 5:01 am






March 4, 2010

Affordable housing, or commercial real estate in East San Jose

Beds: 2
Baths: 1
Sq. Ft.: 1,088
$/Sq. Ft.: $345
Lot Size: 10,080 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1951
Community: Alum Rock
County: Santa Clara
MLS#: 80945706
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 145 days
Not a short sale. Fixer upper on large lot w. frontage to White Rd. Future commercial potential. DO NOT DISTURB TENANTS. Circular driveway, lot size is 70ft. by 145 ft.
Wow. Just think of all the options you are afforded if/when you buy this house. You could live in it, and show off to all your friends that you have a circular driveway. Or you could start a business in it.
Just look at your interesting neighbors!
 image
The person next door has decided to turn their house into a beautiful resort, with a great pool… and across the street you have Rite Aid. I don’t think you can ask for better neighbors!
So what would you do with this house? Live in it? Turn it into a drive through?
At a price this low, it’s a low risk bet. And if you make enough money, maybe you can buy that house at the corner of S. White Rd – that has Farmer’s Market potential written all over it!
Comments (3) -- Posted by: burbed @ 5:24 am

February 16, 2010

Big house for big family in San Jose

Beds: 3
Baths: 2
Sq. Ft.: 576
$/Sq. Ft.: $859
Lot Size: 7,644 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1947
Community: Alum Rock
County: Santa Clara
MLS#: 80940248
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 164 days
Big house for big family and ready to move in. Bring your offer this one won’t last long.

Although Silicon Valley might not be particularly family friendly (they’re bad for efficiency and productivity), there are definitely houses that are family friendly.

Like this one!

While 576 sqft may seem a bit on the small size, and that $859 per square foot might be a bit expensive, the realtor says that this house is great for a big family. And, let’s face it, realtors are the most knowledgeable people on the planet when it comes to real estate. Would you dare deny the listing?

More importantly, this house last sold for $538,000 in 2004! Hello instant equity.

So buy this house today for your big family. It’s ready for move in, although it may not last long!

Comments (15) -- Posted by: burbed @ 5:45 am

December 30, 2009

Vintage Charm with a Vintage Price in San Jose

1603 Shortridge Ave, San Jose, CA

$300,000

1603

Status: Pending Release
Bedroom: 2
Bathroom: 1

Year Built: 1920
Lot Size: 3840
Square Footage: 1080
List Date: 11/23/2009
Garage Spaces: 2
MLS#: 80954766

COME SEE WHAT A GREAT BUY THIS CHARMING BUNGALOW IS!REGULAR SALE-NOT A S/SALE OR REO!LARGE CORNER LOT IN LITTLE PORTUGAL W/2 CAR GARAGE ATTACHED BY A COVERED PATIO*CHARMING COUNTRY KITCHEN W/FARMHOUSE SINK & STUNNING DECO TILE COUNTERS W/FULL BACKSPLASH*FRIDGE INCL’D*INTERIOR LAUNDRY ROOM W/WINDOW*SPACIOUS LIVING ROOM W/XMAS TREE WINDOW & FIREPLACE W/MANTLE*VIEW A 19 PHOTO SLIDE SHOW ON MY WEBSITE

Thanks to Burbed reader sonarrat for this find.

Frankly, I don’t see why anyone needs to go to school – you can learn a lot just from real estate listings. For example, did you know that there’s a Little Portugal in San Jose? I certainly didn’t. Heck there’s even a North and South!

And also, who knew that you could have a farm house right next to 101? How quaint! How convenient!

Let’s go look at some of the photos:

1603a

Vintage indeed! Look the appliances! Look at the car! Too bad the car doesn’t come with the house, that’d be a real bonus!

But more importantly, this house is now pending, which goes to show just how HOT HOT HOT the market is. Don’t you wish you had purchased this house?

Comments (9) -- Posted by: burbed @ 5:00 am

December 4, 2009

Affordable house near SJ Country Club Golf Course

5530 ALUM ROCK Ave, San Jose, CA 95127 | MLS# 80945416
$399,777
5530 ALUM ROCK Ave San Jose, CA 95127

5530
Beds: 3
Baths: 2
Sq. Ft.: 1,280
$/Sq. Ft.: $312
Lot Size: 9,375 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: Green Belt, Mountains, Golf Course
Year Built: 1946
Community: Alum Rock
County: Santa Clara
MLS#: 80945416
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 54 days
Across from SJ Country Club Golf Course! 2nd house on R after Ridgeview. New comp shingle roof, new forced air furnace, new granite tile in baths and some tile floors. Kitchen cabs & sink unfinished; 2nd (new) bath is unfinished, interior retexture done but wall paint needed. Pool is empty, BIG, & deep; watch your step! NO kids allowed! Tenant has loads of junk. Make As-is offer with quick close.

Thanks to Burbed reader sonarrat for this found.

New roof! New forced air furnace! New granit tiles in baths!

Wow… there’s so much new! And so much that’s… not. But, hey it’s affordable.

Let’s take a look at some of other pics of this affordable country club house:

5530a

Yeah… here’s a tip, avoid the coffee.

Hey aren’t they filming a Saw #23 this year? This might be the perfect location! Buy it today, rent it back out for movie shoots! Cha-ching! Yet another great investment opportunity in the Bay Area. Or affordable housing.

(Do you see any of that new stuff anywhere?)

Comments (30) -- Posted by: burbed @ 5:02 am

November 5, 2009

Live in San Jose for just $700 a month!

2137 LUZ Ave, San Jose, CA 95116 | MLS# 80942348
2137 LUZ Ave San Jose, CA 95116
Price: $99,000

2137
Beds: 2
Baths: 1.5
Sq. Ft.: 956
$/Sq. Ft.: $104
Lot Size: 871 Sq. Ft.
Property Type: Condominium
Stories: 1-3 (Low Rise)
View: Neighborhood
Year Built: 1973
Community: Alum Rock
County: Santa Clara
MLS#: 80942348
Source: MLSListings
Status: Active
On Redfin: 52 days
Affordable townhouse!!! Perfect for first time buyers or investor. Kitchen-tile counter, wood cabinets, and new tile bathroom floor. Close to freeways, stores and hospital.

Ok… you know all those jokes about how sellers are giving away houses? And how the Bay Area is becoming affordable?

Let’s face it – this condo is practically free, and it’s very affordable.

If you can’t afford the 30 year fixed mortgage of $425 and the HOA of $280, seriously… why are you here?

Heck, you could work one day a week and afford living here.

But wait, there’s more – just look at the amazing instant equity waiting for you to unlock!

2137a

Heck, even if you don’t buy it as a home, you could buy it as a hang out for you and your buds:

2137b

Just bring your laundry over, and play foosball while you’re waiting!

Again, if you can’t afford to live here – you really shouldn’t be living in the Bay Area.

Comments (20) -- Posted by: burbed @ 5:51 am

December 21, 2008

Is it a mini golf course, or is it the ultimate post modern San Jose house?

1601 Havana Dr, San Jose, CA 95122 Alum Rock MLS# 80814535 – Property Details

1601 Havana Dr, San Jose, CA
$269,900

17013817_1601hav

* Status: Active
* Bedroom: 3
* Bathroom: 2
* Year Built: 1959
* Lot Size: 5800
* Square Footage: 1040
* List Date: 6/9/2008
* Garage Spaces: 1
PRICE REDUCTION! TAKE A LOOK AT THIS PROPERTY IN GREAT CONDITION, LARGE CORNER LOT WITH SIDE YARD ENTRANCE, ADDITIONAL BONUS AREA IN BACKYARD. PERGO FLOORING, TEXTURED WALLS, GRANITE KITCHEN. REO/EASY PROCESS NOT A SHORT SALE CALL ME DIRECT WITH ANY QUESTIONS.

Thanks to Burbed reader Garret for this find. Garret was wondering if this house was built on dead houses. A Frankenstein’s monster of houses.

Huh? All I see is a fantastic looking bridge – very zen in East San Jose!

Maybe a closer examination of the photos may be required.

1983492157_1601a

Uh. Interesting use of orange and lime(?) green. It totally has this tropical feel that makes me think of Cuba – how fitting for the street name.

I like the plant. It’s an interesting study in isolation.

And check it out, you don’t need to move to Belmont to have granite everywhere - you can save a few hundred thousand and live in East San Jose to get the same effect!

At this price, I don’t know how you could afford not to buy this house!

So where’s this bonus area that the description mentions?

Comments (19) -- Posted by: burbed @ 5:40 am

August 5, 2008

$290,000 for a house that’s in Silicon Valley and not in East Palo Alto!

1547 FLORIDA Ave San Jose, CA 95122
Price: $290,000


Beds:     3
Baths:     1
Sq. Ft.:     960
$/Sq. Ft.:     $302
Lot Size:     5,777 Sq. Ft.
Age (Years):    49
Year Built:    1959
Type:    Detached Single Family
Style:    Ranch
Stories:    1 Story
View(s):    Neighborhood
Neighborhood:    Alum Rock
County:     Santa Clara
MLS#:     80779155
Source:     MLSListings
Status:     Active
On Redfin:     166 days
Unsold in 90+ days
Beautiful, remodeled home, tile kitchen floors and counters, large covered patio, garage converted to living area w/ two bedrooms.

Wow. Just wow.

Another day, another house that proves that real estate prices have absolutely hit the bottom here. THE BOTTOM.

Now, when Burbed reader Michele submitted this house, she thought that perhaps Fred Flintstone
or Barney Rubble lived in it. (Definitely not the Pope – he lives in Willow Glen)

Actually, the fact is that this house pays homage to Silicon Valley’s defense industry past. Yep, that’s right – this house is actually a test site for the new HouseCamo(flage) system. By blending in with its surroundings, this house simply disappears from terrorists and rapists – who would might otherwise try to attack and steal your instant equity from you. And you certainly wouldn’t want that to happen!

Better act soon – at this price, holy cow it’s going to disappear fast.

I hear there’s already a potential buyer lined up:

Comments (35) -- Posted by: burbed @ 5:14 am

October 30, 2007

Finally a house without staging!

Reports
3365 E HILLS DR, SAN JOSE 95127 (San Jose)
$479,000 Beds: 2 bed(s) Baths: 1 bath(s) MLS: 719133

3365.jpg

Property Overview
3365 E HILLS DR
SAN JOSE (San Jose) 95127
Detached Single Family (Class 1)
Bed/Bath: 2 / 1
SqFt: 660
Lot: 5,227 sq ft
Age: 86 years
List Price: $479,000
Assoc Fee:
Remarks
$479000 now! OBO! Short-sale OK. Great starter home, 2B1B, small office, Large lot, stone patio, 1Car gar. 1B/1B apt in back. Permits? Side driveway provides access to back for RV or boat

When you’ve looked as many houses as I have, you get really really really really sick of staging. Brightly colored towels, giant clocks that Buster Keaton could hang off of, French poster ads turned into art – blah blah blah.

I like this ad. It’s authentic. It’s got a certain realism that really resonates. What is the artist attempting to establish in this scene? Despair and dereliction perhaps? The human condition?

Why not other pictures of this house?

 3365b.jpg

Oh. Nevermind. Picture of a sink it is.

Comments (10) -- Posted by: burbed @ 5:56 am

October 11, 2007

cubicles – yes. kitchen or baths – no. $459k!

MLS-2.com: Property Details
480 S CAPITOL AV, SAN JOSE,CA,95127 – $459,900

cap.jpg3 Beds 1056 Sq.Ft. Aprx. 2 Car Garage MLS#: 752325
1.0 Baths 5,227 Lot Size 56 Yrs Old Aprx. List Date: 2007-09-17

Property has been gutted. no kitchen or baths. bring contractor! previous owner was possibly making office. cubicles throughout inside. Bank owned property

You know what this house would be great for? Starting a mortgage brokerage or real estate agency! Look, it’s already got some cubes going:

cap2.jpg

Just throw in a few phone lines, and presto – you too can have your own boiler room home based business!

Thanks to Patrick of MLS2 for finding this one!

Comments (8) -- Posted by: burbed @ 5:31 am