July 3, 2013

Peak Pricing: Not Just for RBA Homes

We’ve been talking about the Bay Area Real Estate Bubble 4,0 for half a year now. One way to tell things are getting bubblicious and frothy is when areas we don’t think of as expensive start acting like Real Bay Area markets.  Today’s featured home is from the East Bay, and it joins the peak parade,  Thanks much to Burbed reader Brittney for alerting us to this disturbance in the Force.

130702-westbury-redfin5670 OLD WESTBURY Way
Dublin, CA 94568
Sold for $825,000

4 Beds
2.5 Baths
1,972 Sq. Ft.
$418 / Sq. Ft.
Built: 2003
Lot Size: 3,117 Sq. Ft.
Sold On: May 31, 2013

HOA Dues: $126/month
Style: Mediterranean
Community: Tassajara Creek
MLS#: 40615019
Type: Detached
Stories: 2
County: Alameda

Corner location! Features include two tone paint, plantation shutters and crown molding throughout. Kitchen with stainless appliances, honey maple cabinets and granite counters with backsplash. Upgraded fireplace in family room with custom tile work. Backyard w/ grassy area and custom patio!

130702-westbury-livingYes! Corner location! Twice as much traffic who can all appreciate your two-tone paint job! Now let’s hear from Brittney.

Just saw this listing go sold recently. It was listed at $724,900 and sold for $825,000 which is incidentally the exact amount paid for it by the owners back in Oct 2005 – peak of the peak during that bubble. Nothing new was done to the house and it’s not anything special in that area….

130702-westbury-patioThat’s one diference between the RBA and the East No Way, namely when the market peaked. RBA homes peaked in 2008, except You Are Priced Out Forever AGAIN this year. What’s great is you can choose whether you can’t afford Palo Alto or whether you can’t afford Dublin.

Just remember what you can’t afford for $825K in Palo Alto.

Bunus: Holy Planned Unit Development, Batman, this place has a FAR of 0.63.  That’s what your HOA fees bring: the bribes development fees to make that even legal.

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






July 2, 2013

100% STUNNING LOOK NO FURTHER WOW

130701-hope-simplyYes, we did Mountain View yesterday. We’re doing Mountain View today. We may even do Mountain View tomorrow, because one does not simply run out of Burbed Win in Mountain View.  Thanks very much to Burbed reader mtv-renter for alerting us to this important fact. (And to the house.) 

Whoops, were you breathing? PENDING!  We mean Pending/Do Not Show, so hellooooooooooo Movoto!

130701-hope-movoto505 Hope St
Mountain View, CA 94041
$1,198,000

Loan Payment: $4,576/mo
Bedrooms: 4
Bathrooms: 3
Size: 1,909 sqft
$/sqft: $627/sqft
Type: Single Family House
Year Built: 1953
Lot Size: 5,000
Days on Movoto: 8 days
Neighborhood: Downtown
MLS#: 81319557
Status: Pending – Do Not Show

130701-hope-kitchen100% STUNNING HM 1 BLOCK FROM CASTRO ST! SUPERB LIVING GREAT FOR ANY LIFESTYLE! GORGEOUS REMODELED FAM KIT, UPDATED BATHS, HUGE LIV RM, WOOD FLOORS, DUAL PANE WINDOWS, SKYLIGHTS, CUSTOM LIGHT FIXTURES & DESIGNER PAINT, VERSATILE FLR PLAN FOR FAMILIES OR EXECUTIVES WHO LIKE TO ENTERTAIN, LANDSCAPED YDS, UPGRADES GALORE! IF YOU WANT SPACIOUS LIVING IN A GREAT DOWNTOWN LOCATION: LOOK NO FURTHER! WOW

130701-hope-bedroomHey, when the first listing photo isn’t the front of the house, you know this is going to be good. By which we mean bad. And that’s good.  Let’s check in with mtv-renter, who may be updating that handle.

I came across this cool place:

$1.2M apparently doesn’t buy good spelling, or a computer with a working CAPS LOCK key. It also looks like a flip.

It sure does, and you can see the before pictures right now on Redfin. (If you can’t, click the address.) Heck, the Pending/Do Not Show status not only pushed it back to the last listing ID, it even gave it a cool Bought With Redfin banner.

130701-hope-redfin505 HOPE St
Mountain View, CA 94041
Sold for $1,100,000

4 Beds
2.5 Baths
1,909 Sq. Ft.
$576 / Sq. Ft.
Built: 1953
Lot Size: 5,000 Sq. Ft.
Sold On: Nov 2, 2012
Property Type: Detached Single Family
View: Neighborhood
County: Santa Clara
Stories: 1
Community: Downtown
MLS#: 81234364

BEAUTIFUL HOME IN OLD MOUNTAIN VIEW NEIGHBORHOOD. PERFECTLY LOCATED NEAR CASTRO ST. HOME REBUILT IN 1996 WITH 4 BEDROOM & 2.5 BATHS. SPACIOUS LIVING ROOM. HARDWOOD FLOORING THROUGHOUT. DOUBLE PANED WINDOWS. COPPER PLUMBING.

130701-hope-notp

You know, these are hardly “before” pictures. They’re actually pretty good.

Our favorite view from the old listing is on the left. We chose it because there’s nothing like spending the big bucks on a stager and HDR photography and then giving the sense that you’re out of TP.

And that sure sounds like what happens to FAMILIES OR EXECUTIVES WHO LIKE TO ENTERTAIN.

Comments (12) -- Posted by: madhaus @ 5:03 am

July 1, 2013

Two doses of Mountain View WTF

Today’s house is a two for one special. Actually it’s a three for one special as you’ll get through today’s feature in record time, and use the savings to make some more overbids! Thanks very much to Burbed reader LomaLuvr for sending this one in.

130630-clark-movoto1061 Clark Ave
Mountain View, CA 94040
$849,000

Loan Payment: $3,243/mo
Bedrooms: 3
Bathrooms: 1
Size: 974 sqft
$/sqft: $871/sqft
Type: Single Family House
Year Built: 1951
Lot Size: 5,607
Days on Movoto: 7 days
Neighborhood: Miramonte
MLS#: 81319766
Status: Pending – Do Not Show

Desirable neighborhood with Bubb Elementary and Los Altos High School. Close proximity to commuter routes and Silicon Valley.

130630-clark-office-applianceSo far it’s the usual boring Mountain View house going pending in minutes and selling for close to $900 a foot.  But it was picture #15 that had LL firing up the Compose window. Have. A. Look.

In case you don’t think the white credenza is a repurposed laundry appliance, go take a look at picture 14.  Or maybe the homeowner gets better ideas from the hum of clothing getting cleaner.

130630-clark-office-fenceBunus: Fence view win!

Be sure to check out the Redfin link (photos have been removed) for the awesome streetview in its place!

Comments (2) -- Posted by: madhaus @ 7:05 am

June 30, 2013

Mortgages Up Half Point in a Week: You are Officially Priced Out Forever

Here’s some cheery news for you from our local Website That Was Once A Newspaper Too!

Biz Break: Mortgage rate skyrockets amid housing market turnaround

By Jeremy C. Owens, San Jose Mercury News
Posted:   06/27/2013 03:47:57 PM PDT; ‘Updated:   06/27/2013 04:40:57 PM PDT

Today: 30-year mortgage rate takes a nearly unprecedented one-week jump to its highest point in two years as the real-estate market heats up. Also: Apple (AAPL) continues to decline even as Wall Street has third straight day of gains.

The average rate for a 30-year mortgage experienced its largest one-week increase in more than a quarter-century, as the housing market continues a booming turnaround from the crisis that precipitated the Great Recession.

Mortgage buyer Freddie Mac reported Thursday that the rate had increased from 3.9 percent to 4.46 percent in the past week, the highest rate recorded in more than two years. The rise in the mortgage rate is even more striking when comparing it to near-record-lows experienced less than two months ago — in early May, the average rate was 3.35 percent. Bankrate.com reported that the 3.35 percent rate on a $200,000 mortgage would result in monthly payments of $881, while the 4.46 percent rate would cost a buyer $1,008 a month.

The rise comes as the housing market roars back to life so quickly that some in the Bay Area have asked if the region has entered another housing bubble. Home prices in the Bay Area hit their highest average in five years in May, according to DataQuick, returning to levels last seen before the Great Recession had most of its effects on the market. That mirrors a national rise, with the Standard & Poor’s/Case Schiller index tracking the highest annual gain in home prices since 2006 in April, as San Francisco joined three other large metro areas in increases of more than 20 percent.

130629-mortgages-forsaleWe’ll stop you right there with a reminder that we called Bay Area Bubble 4.0 and have continued to call Bay Are Bubble 4.0 months and months ago. You can see how behind the Murky News is on this, running a story by one of their own reporters and using an AP photo of a house in, we kid you not, Illinois.

130629-mortgages-openhouseflagAlthough maybe we shouldn’t point and laugh, because houses in the Real Bay Area sell too fast for anyone to bother with For Sale signs anymore.  Instead they use For Sale flags.  Much faster to wave one around for a couple of minutes, collect the overbids, and head back to the air-conditioned office.

We like this one, especially because the tree is doing the agent’s job.

Are you trying to buy a house or do you know someone who is? Are you trying to refinance and are you kicking yourself for waiting too long? What kinds of rates are you being offered by your bank or mortgage broker? 

Comments (12) -- Posted by: madhaus @ 7:06 am

June 29, 2013

You know what they got? KAWLUMS

It’s been a while since we’ve been sent a MAWBUL KAWLUM heavy house. We miss them so much we were forced to present this one from (gasp) Southern California.

Good thing we just reordered red arrows.

130628-buggy-kawlums

The house itself is hideously overdone in Middle-Aged Movie Executive With Unlimited Budget, including the kawlum-bedecked indoor tennis court that meets US Open requirements. And no, we aren’t kidding. 

130628-buggy-tennis

We didn’t even know there was a standard for kawlums at the US Open.

Let us know if any US Open Houses you tour this weekend have kawlums. Or tennis courts. Yes, this is your Weekend US Open Thread.

Comments (4) -- Posted by: madhaus @ 5:01 am

June 28, 2013

Make this 6 BR house into a 6 BR retreat and please buy it already

We’re taking another drive by Redwood City this week, but this time we’re headed for the hills. Emerald Hills, that is. Or Cordilleras Heights, depending on which realtard portal you choose.  Thanks very much to Burbed reader laurenatuw for this find somewhere in the Woodside zip code. 

130627-california-redfin645 CALIFORNIA Way
Redwood City, CA 94062
$1,700,000

9 Beds
6 Baths
3,100 Sq. Ft.
$548 / Sq. Ft.
Built: 2007
Lot Size: 0.32 Acres
On Redfin: 22 days
Status: Active
Property Type Detached Single Family
Community: Cordilleras Heights
MLS#: 81319700

Best lot in Emerald Hills. Excellent location. 3100 sq foot main house and guest house with additional 579 sq feet. Great possibilities await you. Make it into a 6 bedroom retreat.

130627-california-livingUnfortunately for us, we were unable to find the interesting photos that laurenatuw must have seen when sending this in:

wow, a gem

3100 square foot main house is apparently not big enough to have a couch that wouldn’t block the door.

and maybe they are simply suggesting projects by the abundance of remodel supplies in the pics: tractor, ladder, random plywood, traffic cone – its practically a where’s waldo of construction items hiding in a 1.7mill listing

Alas no remodeling supplies in the current pictures. And for 3100 feet of main house they’re being awfully skimpy on the photos, because here are the other two.

130627-california-guest130627-california-view

Fortunately, there are always some sites our there that take their sweet time updating listings.  Today we’re featuring a new one for you: HomeSwing.  (Wow, that sounds kind of sleazy, doesn’t it?  Maybe they arrange key parties.)

For Sale › California › Redwood City › 94062

130627-california-homeswing645 California Way
Redwood City, CA 94062
FOR SALE $1,680,000

  • $8,738/month
  • 9 Bedrooms
  • 6.0 Bathrooms
  • 3100 sq ft
  • Built 2007
  • Single-Family Home

Big Price Reduction. Beautiful Emerald Hills. Expansive 4 yr old home – 9 bdrms, 6 full bath. Main house 3100 sq ft & Guest house is additional 579 sq ft. 14000 sq ft Corner Level lot w/RV access & Electric gate. Backyard is large enough for a pool. (Pool plans already apprvd by design review board)

Property Highlights
  • San Mateo County
  • 9 Bedrooms
  • 130627-california-patio6.0 Bathrooms
  • Finished: 3100 sq ft
  • Built 2007
  • Geo Coordinates: 37.457, -122.276
  • ZIP: 94062
  • Days On Homeswing: 647

Wait, what… 647 days on market?  Unfortunately HomeSwing is leaving out some useful information, such as the MLS ID number so we could see just how old this listing is. But the 2011 copyright on the photos offer us a free clue.  (As do the exact same photos cached from California Moves, along with the MLS ID of #40541748.  As opposed to the other MLS ID of #40617479. Neither of which start with Lucky #8, so they’re probably dangerous.)

130627-california-couchThen we found a different couch blocking the door.

There was also a completely different random view from the second floor than in the most recent set of (only 4) pix. 

Plus a photo of the fence, in case you were worried there weren’t any.  Fences.

We’re sorry we couldn’t find the construction equipment scavenger hunt, but while we’re not finding any, feel free to predict just what the correct price level is to induce the proper overbidding.  This agent is off to a great start raising the price $20K on a house that didn’t sell in two years.

130627-california-view2130627-california-fence

Bunus: Did you make your best price estimate? See how well you tracked Zillow’s Zestimates! They didn’t think this house was appreciating very quickly. It must have been built in one of those Not Actually In The Real Bay Area portions of an otherwise RBA zip code.

130627-california-zestimate

Comments (5) -- Posted by: madhaus @ 5:07 am

June 27, 2013

Marvelous Mountain View Mansion

Let’s check in with Burbed reader dollarbin again, because Mountain View is awesome. Too bad you can’t have this house.  It went pending, oh phooey, another one that got away! But, you can join in the fun guessing how high the overbids will reach!

130626-sanluppe-redfin837 SAN LUPPE Dr
Mountain View, CA 94043
$700,000

4 Beds
2 Baths
1,576 Sq. Ft.
$444 / Sq. Ft.
Built: 1962
Lot Size: 0.27 Acres
On Redfin: 52 days
Property Type: Detached Single Family
Stories: 1
Community: North Shoreline
MLS#: 81315358
Style: Traditional
View: Neighborhood
County: Santa Clara

THIS PROPERTY HAS A HUGE LOT * HOUSE IS OCCUPIED * LOCATED IN DESIRABLE NEIGHBORHOOD!

130626-sanluppe-otherpicDESIRABLE NEIGHBORHOOD, eh? What does dollarbin have to say about this listing?

Speaking of bubbles:

After a week on the market, this Stierlin Estates home got a $100K bump. Let your imagination run wild because apparently the tenants can’t be dislodged long enough to take interior shots. The massive sound wall from the Norman Y Mineta Highway wraps the whole lot in its cozy shadow.

The two pictures above are all the agent bothered to share. We can also confirm the 16.67% price increase.

130626-sanluppe-history

And the soundwall. Click for a larger version.

130626-sanluppe-streetview

Wow, we’d hate to see this agent’s idea of an UNDESIRABLE NEIGHBORHOOD.

Comments (8) -- Posted by: madhaus @ 5:09 am

June 26, 2013

Begin Your Journey in the Shire

We find all kinds of homes for sale and try to mix up the different options so our readers don’t get bored. Ho-hum, another crapshack in East Palo Alto? Not today! Best of all, you can purchase today’s featured property for Not A Lot Of Money℠! (Not A Lot Of Money is a Service Mark of Burbed Worldwide, which is a subsidiary of Burbed Galactic, a wholly owned enterprise of Burbed Universal.)

Thanks very much to Christin for adding this to her Just Wow Redfin Collection.

130625-blackburn-redfin203 BLACKBURN St
Santa Cruz, CA 95060
$499,000

1 Beds
1 Baths
750 Sq. Ft.
$665 / Sq. Ft.
Built: 1922
Lot Size: 5,053 Sq. Ft.
On Redfin: 7 days
Status: Active
Property Type: Detached Single Family
Stories: 1
Community: West Santa Cruz
MLS#: 81321651
Style: Cottage/Bungalow
View: Neighborhood
County: Santa Cruz

This is one of the most unique, eclectic, properties in Santa Cruz. A true eco urban farm in the heart of Santa Cruz, walking distance to beach and town. The home is made from 2 authentic historic street cars. Greeting you is a huge oak tree with its own treehouse, 2 cob stuctures for office, work or play, a pond, clucking chickens, fruit trees galore, gardens, sauna, fire ring, cob oven, more!

Cob oven? Say no more!

130625-blackburn-windows130625-blackburn-kitchen130625-blackburn-bath130625-blackburn-dutchdoor130625-blackburn-barrel130625-blackburn-barrel2

The house isn’t terribly large, which is a good thing. Gandalf will be coming by any minute with an important mission statement for you. Meet at the Fire Ring.

image

Comments (5) -- Posted by: madhaus @ 6:03 am

June 25, 2013

Go East, Young Man! East Palo Alto!

Last week, site founder and still occasional guest poster burbed brought us a trio of triumphant East Palo Alto Burbed win.  Or would that be Burbed wins?  Let’s return to the scene of the crime and see what else is available at low, low entry prices, possible even for those of us who don’t work at Facegle or GoogIn or Linkedbook.  That is, of course, if you think $700K for not just a house but a business opportunity is a low price.

Thanks very much to Burbed reader Petsmart Groomer for noting there’s more to EPA than just Ikea!

130624-euclid-redfin1910 EUCLID Ave
East Palo Alto, CA 94025
$720,000

4 Beds
2 Baths
1,518 Sq. Ft.
$474 / Sq. Ft.
Built: 1947
Lot Size: 5,544 Sq. Ft.
On Redfin: 69 days
Status: Active
Stories: 1
Community: West of U.S. 101
MLS#: 81312363
View: Neighborhood
County: San Mateo

This very well-maintained East Palo Alto duplex consists of two (2) one-bedroom/one-bath single-story units consisting of approximately 1,518 square feet of livable space situated on a parcel totaling 5,544 square feet. The building is constructed of a wood frame with stucco siding and has a pitched composition shingle roof as well as updated double-pane windows.

130624-euclid-trashbinsWe’re seeing opportunity everywhere in this listing. You get two units. That means you could rent them both out to Facegle employees, live in one and invent the next paradigm shift in the other, or go wild and use both as storage. The sky’s the limit, and don’t’ forget to set up bull spreads to lock in your profits!

Wow, look at this! The previous owner will even throw in these excellent receptacles to hold the cash this place will generate! Complete with wheels so you can take them to the bank of your choice!

Comments (11) -- Posted by: madhaus @ 5:04 am

June 24, 2013

Rhinestone in the Rough of Redwood City

Feeling a little stomped by the THERE IS NO HOUSING BUBBLE IN THE BAY AREA? Here’s a property for under $750K! There was a time when you could have bought this house with a $729K conforming loan, but then the government had to change the rules on us. Thanks very much to Burbed reader hOtSauCe from San Carlos for the find!

130623-alexander-redfin186 ALEXANDER Ave
Redwood City, CA 94061
$699,900

2 Beds
1 Baths
770 Sq. Ft.
$909 / Sq. Ft.
Built: 1952
Lot Size: 2,550 Sq. Ft.
On Redfin: 48 days
Status: Active
Property Type: Detached Single Family
Stories: 1
Community: Horgan Ranch
MLS#: 81314440
Style: Contemporary
View: Neighborhood
County: San Mateo

A 2BR 1BA single family residential located in a very desirable area west of Redwood City, near the border of Atherton. A diamond in the rough, this starter home has great potential and with some TLC and creativity, can transform into a charming house with picket fences and great curb appeal. Near Woodside Shopping Complex, transportation, school and other commercial establishments.

130621-alexander-kitchen130621-alexander-carpet130621-alexander-trashbins

The house may need some TLC and creativity, but the picket fences are already there and are painted white for your convenience. Now just work on the curb appeal: check out that Streetview below, and did they have to feature the trash bins in two different listing photos? 

Also practice saying “West Atherton” a bunch.

130621-alexander-streetview

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