October 20, 2010

Great INVESTMENT in Downtown San Jose, If Downtown Means 26th St

Last summer, burbed reader sonarrat sent in this listing for a house in “Central San Jose.”  Some of you were a little disparaging of the wishing price.

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If they’re not making any more land, then here’s a half-acre of it, right near the freeway.  I can’t understand why it wasn’t sold at twice the price, especially with that guaranteed monthly rental stream of $800.  So let’s see how Julian Street fares today.

1279 E Julian St San Jose, CA 95116
$410,000

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Beds: 2
Baths: 1
Sq. Ft.: 828
$/Sq. Ft.: $495
Lot Size: 0.49 Acres
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: Neighborhood
Year Built: 1920
Community: Central San Jose
County: Santa Clara
MLS#: 81024656
Source: MLSListings
Status: Active
On Redfin: 151 days

HUGE PRICE REDUCTION TO SELL NOW! Long, deep 1/2 acre lot w/ two homes has potential residential or commercial application, great for storage, trucks/RVs possible, more. Great INVESTMENT in downtown San Jose close to Freeway, commercial areas. Big 1/2 acre lot, value is in the land. Seller loss is your gain so dont wait! Home currently rented at $800.00/month. Also another building and storage shed.

So while the house is now offered at less than half what it was last year, the rent hasn’t changed!  Now do you see why buying is always better than renting?  You still get your rent check every month and it stays the same no matter how much property values plummet realign. Plus, when you own property, you get action and excitement.  Just look at the nail-biting thrills trying to find a bigger sucker naive knifecatcher smart investor!

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Nothing timid about these price adjustments!  Clearly we’re dealing with a seriously effed borrower go-for-it decision maker!  Do you want to be the one who avoided certain bankruptcy didn’t take action by snatching up all the instant equity in this financial quagmire prime land?  Plus $800 a month, every month!  It’s like getting the other building and storage shed for free!

Comments (14) -- Posted by: madhaus @ 5:09 am






September 14, 2010

House that needs TCL in San Jose

$325,500

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Beds: 2
Baths: 1
Sq. Ft.: 927
$/Sq. Ft.: $351
Lot Size: 5,500 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Stories: 1
Year Built: 1953
Community: Central San Jose
County: Santa Clara
MLS#: 81037679
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 39 days
SHORT SALE. NICE 2 BEDROOMS 1 BATH, 2UNITS 2ND UNIT UNKONOWN PERMITS BUYER TO VERIFY BUILDING PERMITS ON 2ND UNIT. IT HAS HARDWOOD FLOORS NEEDS TCL. WITH A LOTS OF POTENTIAL. GOOD INVESTMENT PROPERTY.

Thanks to Burbed reader sonarrat for this find!

Seriously… if you can’t afford this, you can’t complain that there’s no affordable housing in the Bay Area. Now, it might not be Real Bay Area, but this is still the Bay Area nonetheless (and it’s not Gilroy).

I mean, just look at the magnitude of this opportunity! It’s BOGO: Buy one get one free!

Now granted, it’s not really clear to me where this second unit is, or why this house requires knowledge of Tool Command Language, but hey’ it’s a good investment opportunity. You can’t trust your stock broker to provide advice like that, but surely you can trust a real estate agent!

This is a short sale – which means its going to be sold shortly. Better snatch it up now!

Comments (10) -- Posted by: burbed @ 5:36 am

June 24, 2010

We Finally Got a Piece of the Pie

There once was a TV sitcom about an upwardly mobile African-American family called The Jeffersons that ran from 1975 to 1985.  (It was a spinoff from All in the Family, if you care about that sort of thing.)  This was the theme song:

Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.

George and Louise Jefferson moved from a duet home in working-class Queens to a big apartment in a ritzy doorman building, somewhere in Manhattan’s East Side.  Can you imagine them singing that song of triumph and accomplishment if they had found the way to San Jose instead?  No, neither can I.  Too bad nobody told the developer who brought us today’s featured listing.

360 MARKET St, Unit 3I, San Jose, CA 95113
$529,900

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Beds: 2
Baths: 2
Sq. Ft.: 1,345
$/Sq. Ft.: $394
Lot Size: –
Property Type: Condominium
Style: Contemporary
Stories: 9+ (High Rise)
Year Built: 2007
Community: Central San Jose
County: Santa Clara
MLS#: 81027052
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 21 days

Destined to become an iconic landmark rising 23 stories above San Jose’s fashionably city center, these 213 exquisite one-, two- and three-bedroom residences are available for occupancy! 24/7 doorman, rooftop pool with spa, gym, and clubroom. Sales Center open daily 11am – 6pm, closed Wednesdays.

San Jose is definitely short of iconic landmarks.  There’s the statue of Quetzalcoatl, and there’s, um…  I suppose we should cheer The Mark Company for even trying.

Fish don’t fry in the kitchen;
Beans don’t burn on the grill.
Took a whole lotta tryin’,
Just to get up that hill.
Now we’re up in the big leagues,
Gettin’ our turn at bat.
As long as we live, it’s you and me baby,
There ain’t nothin wrong with that.

You might ask, “Why is anyone opening a luxury apartment tower in the middle of the worst economic situation since the 1930s, where there weren’t even any TV sitcoms?”  And there is a very good answer to that question!  360 Residences started taking deposits in 2007!  Remember 2007?  Anyone who could fog a mirror could get a loan, and anyone did.  And that is why someone thought there ought to be a luxury apartment tower in downtown San Jose.  Maybe they figured the Jeffersons would get tired of New York winters and surly sidewalk denizens, but still would want to live down the hall from wacky neighbors and a tip-cadging doorman.

Rosy views were still the norm in 2007, and here’s what the project director of another luxury apartment building in San Jose had to say about the economy, back in 2008:

McGoff also noted the depressing effect of the housing slump on San Jose, but suggested at least some of the problem is political, rather than economic.
“It’s the nature of the politics of a presidential election cycle that everyone is just holding off until the outcome,” he says. “I still think it’s a very good market in San Jose, but it’s at a time and a place where people are hedging their bets.”

image Yes, you could say bets were being hedged,  360 Residences was delayed for many reasons including a building inspectors strike and soil liquefaction onsite.  Oh, and some problems with the lender and two million dollars worth of liens.  You know it’s not a good day when the promised financing on your huge construction project is taken over by the FDIC.

Despite selling 90 of the units, the economic downturn has led some would-be buyers to move on and (unsuccessfully) ask for their deposits back.  But their loss is your gain, as prices have come down!  20 percent instant equity, baby!

Don’t quite like this unit?  Check out the different apartment types available if you want to be movin’ on up.  Perhaps you’d like to be more in the sky than this third-floor unit.  Perhaps you can!  There are 213 to choose from, including six penthouses, and one has to have your name on it!  It better!  Association fees are $655 a month for this two-bedroom condo.  Now how long will that pool will stay heated if nobody moves in and starts paying them?

Ralph the doorman says please move in, he needs the tips.

Well we’re movin on up,
To the east side.
To a deluxe apartment in the sky.
Movin on up,
To the east side.
We finally got a piece of the pie.

Comments (62) -- Posted by: madhaus @ 5:09 am

June 21, 2010

4-unit Compound, Too Much to List

Here’s another in our series of our seven-digit properties.  Unlike Thursday’s San Jose house, this one is much closer in.  In fact, this one is so close-in, it’s on El Camino Real.  Or at least El Camino Real del Sur.

1645 The Alameda, San Jose, CA 95126
$2,998,000

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BEDS: 7
BATHS: 7.5
SQ. FT.: 7,500
$/SQ. FT.: $400
LOT SIZE: 0.47 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Mediterranean
STORIES: 3
VIEW: Neighborhood
YEAR BUILT: 1919
COMMUNITY: Central San Jose
COUNTY: Santa Clara
MLS#: 81005748
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 129 days

Completely restored “One of the Original” Grand Mansions. Dialed in top to bottom. Impressive statement property. 4-unit compound currently set up for a work/live environment, but many options. Gorgeous main hse, restored in 2002,3-suite office-recpt area, full kit & bath. Sep guest hse rebuilt on sep lot on Randol-3bd/3ba. Oversized prking courtyard, New 5-car garage w/ apt above added 2002.Too much to list

It’s not every day that a house with a 5-car garage comes up for sale, especially one that already has all the parking it needs.

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Definitely a “live/work environment!”  Let’s see who your new neighbors are going to be!

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Can’t wait to meet them!  But if you’re going to cross the street for a cup a sugar, better do it during business hours.

Here’s a look from the side.  How many of the buildings are included with the sale, I wonder?

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I see one advantage of this place already.  There’s no Google Streetview of the front of the house!  How many people can make that claim?

The compound seems to include the “Owner’s Living Quarters” on the ground floor of The Big House, the Guest House (with 4 bedrooms if you believe the agent’s virtual tour, or 3 bedrooms if you believe the listing), the Garage (with a one-bedroom apartment) and a building to be named later.  The Big House also boasts three office suites (so the emphasis is more on the “work” than the “live.”)  If you’re a Type A who wakes up at 4:30 in the morning to pound out a few dozen memos (after having turned in at 3:30), you could just set up a cot in each office and expect the same from your minions.

Since the listing promised seven bedrooms, your job, burbed readers, is to find the missing ones!  Here’s the virtual tour so you don’t have to bother the listing agent.  First one to find them gets their pick of either a.) Your very own house featured on burbed, or b.) Your very own house never featured on burbed.  Second one to find them gets their house featured twice.

Comments (6) -- Posted by: madhaus @ 5:04 am

June 3, 2010

A REALLY NICE HOME IN A REALLY CHALLENGING LOCATION

Listed at: $299,888

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Beds: 3
Baths: 2
Sq. Ft.: 1,248
$/Sq. Ft.: $240
Lot Size: 5,754 Sq. Ft.
Property Type: Detached Single Family
Style: Craftsman
Stories: 1
View: Neighborhood
Year Built: 1920
Community: Central San Jose
County: Santa Clara
MLS#: 81011874
Source: MLSListings
Status: Pending With Release This listing is in escrow and all contingencies have been fulfilled. "With Release" means that there’s a release clause with the offer stating that the buyer is trying to sell his current home before closing. A release clause lets the seller back out of the deal if the buyers can’t sell their home within a set time frame.
On Redfin: 71 days
A REALLY NICE HOME IN A REALLY CHALLENGING LOCATION * * Current owners have invested a lot of time and money in making this home a very special place to live * * You’ll appreciate the combination of old style hardwood floors and contemporary recessed lighting * Beautiful tile and updated kitchen * * a Patio built for entertaining * * and even a detached studio apartment for guests * * This home is worth the wait * *

Thanks to Burbed reader sonarrat for this find!

Here’s what he had to say:

This house, I must say, is a triumph of the Bay Area spirit. The intrepid owners bought a house in the absolute worst place possible – on the busiest street in downtown San Jose, next to a lane that doubles as a freeway onramp and offramp, with a 7/11 right behind, self storage across (underneath the freeway), and student apartments next door, with a view of a spider’s web of power lines. Yet, instead of conceding that they had bought possibly the worst house in the entire city, they took the equity and made it the nicest house on the block. They landscaped, completely modernized the interior, gave it a charming look on the outside, and even added a detached studio.

And now, they’re short selling it and letting the bank eat the cost of the remodeling.

Isn’t the Bay Area great?

Can anyone say: spirit award?

Comments (19) -- Posted by: burbed @ 5:22 am

February 18, 2010

A house with a very integrated garage in San Jose

Beds: 2
Baths: 2
Sq. Ft.: 630
$/Sq. Ft.: $460
Lot Size: 4,000 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1940
Community: Central San Jose
County: Santa Clara
MLS#: 80926060
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 247 days
Two homes in one lot 1/1 each exellent area.

I’m mystified as to why this house hasn’t sold yet! Two for the price of one in an exellent area! I mean, heck, it’s right near Santana Row and Valley Fair. And look at that awesome garage. You can feel safer at night, knowing that you’re sleeping right next to your trophy car – or… possibly… sleeping with your trophy car!

Sure the pictures don’t really explain how there’s two houses, but that’s ok – we’re a faith based real estate web site. Just think of the opportunities!  You can rent one of the houses out for shoppers who are making the pilgrimage at Santana Row. Cha ching! Exellent area indeed!

What this listing really needs to say is: won’t last long.

Comments (2) -- Posted by: burbed @ 5:16 am

February 17, 2010

Seller prefers no photo for San Jose house

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Beds:

2

Baths: 1
Sq. Ft.: 863
$/Sq. Ft.: $521
Lot Size: 3,920 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: City Lights
Year Built: 1915
Community: Central San Jose
County: Santa Clara
MLS#: 80955470
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 61 days
Short Sale. Seller still waiting for lenders approval. Property needs TLC ( Repair)

Privacy is becoming an increasingly precious commodity these days. Fortunately, the owner has thought ahead for you, and has protected the image of this house from being shown so that when you become the owner, the paparazzi won’t be able to find you right away!

Or… may be this is one of those shy houses – the kind of house that shirks away when you try to take a photo it.

If this street view image is correct, there’s nothing to hide really:

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Personally, I’m just glad it is clarified that this house needs the repairs kind of TLC – rather than, say, emotional support, counseling, or other sorts of tender, loving care. Good to know!

Comments (21) -- Posted by: burbed @ 5:48 am

February 6, 2010

San Jose’s Historic Downtown (CA) (Images of America) (Paperback)

San Jose’s Historic Downtown (CA) (Images of America) (Paperback)
Lauren Miranda Gilbert (Author)

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San Jose is the Capital of the Silicon Valley the high-rise, economic engine of advanced technology. Yet it was once a verdant valley, inhabited by wildlife, waterfowl, and the native Ohlone people. The Spanish who founded California’s first civilian settlement here in 1777 named it for Saint Joseph, the patron saint of the Spanish Expedition. Their farms fed the soldiers at the Monterey and San Francisco presidios, beginning an agricultural industry that thrived for nearly 200 years. Although serving briefly as California’s first state capital, for many decades downtown was the somewhat sleepy commercial center of the Santa Clara Valley. A housing and population expansion that began in the 1950s exploded with San Jose’s rebirth as a technological mecca.

Let’s face it – it’s all too often that we overlook the gem that is San Jose’s historic downtown. It’s like any other bustling metropolis, just lacking… uh… the bustle. Heck, it even served as the first state capital!

For those of you who don’t own real estate yet, you should buy this book so you can look back and reflect on how if you had invested in San Jose’s downtown earlier, you’d be… someone who owns real estate in San Jose’s downtown today.

More importantly, what will be the next chapter for San Jose’s downtown? Let’s be frank – overtaking Manhattan is probably a stretch for a long time to come. But… could it at least achieve parity with San Francisco? What could San Jose do to make its downtown better?

When you’re not busy brainstorming a better Downtown San Jose, you can help make sure this site continues to be great! Click this link to learn more about donating to this site’s hosting costs!

Comments (4) -- Posted by: burbed @ 5:40 am

November 10, 2009

Oh my gosh hurry! This house in San Jose is going to fly away!

951 N 3RD St, San Jose, CA 95112 | MLS# 80946827
951 N 3RD St San Jose, CA 95112
Price: $724,999

951
Beds: 3
Baths: 2
Sq. Ft.: 2,050
$/Sq. Ft.: $354
Lot Size: 6,160 Sq. Ft.
Property Type: Detached Single Family
Stories: 3
Year Built: 1938
Community: Central San Jose
County: Santa Clara
MLS#: 80946827
Source: MLSListings
Status: Active
On Redfin: 26 days
* * Japan Town!!! * * Fantastic TOTALLY remodeled Tudor home * * 2 bedrooms main floor with one full bath that level * * upstairs master bedroom suite with full gorgeous bath * * This property has been lovingly remodeled-with new bathroom/ new kitchen/fully insulated/all new copper plumbing/2 heating and cooling systems/garage added onto now 20′-34’!!! * * Oh my gosh hurry!!! * * See tour for more details *

Thanks to Burbed reader sonarrat for this find!

Oh my gosh! Hurray!

Oh wait… that’s not urgent enough. Let’s try that again.

Oh my gosh hurry!!!

This house has been so lovingly remodeled, that if you know what’s good for you, you should head down right now and scoop up this house. I mean… just look at this photo:

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This could cause a riot. A riot that could destroy the house. I mean, how often do you see a photo like this?

So please! Hurry! Save this house for yourself!

Comments (7) -- Posted by: burbed @ 5:17 am

August 20, 2009

You won’t be disappointed in this Willow Glen house!

336 WILLOW St, San Jose, CA 95110 | MLS# 80938109
336 WILLOW St San Jose, CA 95110
Price: $250,000

336
Beds: 3
Baths: 1.5
Sq. Ft.: 1,397
$/Sq. Ft.: $179
Lot Size: 5,227 Sq. Ft.
Property Type: Detached Single Family
Style: Victorian
Stories: 1
Year Built: 1910
Community: Central San Jose
County: Santa Clara
MLS#: 80938109
Source: MLSListings
Status: Active
On Redfin: 8 days
Converted for Business Use, Permits Unknown. 5 minutes from downtown Willow Glen and San Jose. 90K in renovations. You won’t be disappointed.

Thanks to Burbed reader sonarrat for this find!

Wow… it has $90k in renovations – and the permits are unknown. Is it any wonder this is at the astonishing price of just $250k?

$250k!

Yes… houses are definitely affordable now. Plus, you’ve gotta dig the awning. How many houses can you say have something like that? Sure it’s currently converted for business use, but when you convert it back to residential use, every time your guests come up it will be like visiting a fine restaurant.

Think about it – they’ll be so envious! Watch as your pride of ownership soaaaaaaars!

Comments (30) -- Posted by: burbed @ 5:11 am