January 17, 2014

Selling Shortly in Hayward

Let’s visit the East Bay today, always good for a fresh angle. 

140116-ocie-redfin466 OCIE Way
Hayward, CA 94541
$460,000

3 Beds
1.5 Baths
1,185 Sq. Ft.
$388 / Sq. Ft.
Built: 1958
Lot Size: 5,005 Sq. Ft.
On Redfin: 14 days
Status: Active
Type: Detached
Stories: 1
Community: Alameda
MLS#: 40641549
Style: Ranch
View: Other
County: Alameda

Great Opportunity! Easy access to Hwy 880 and 92. House Needs TLC. 3 bedrooms one and a half bath. As is Sale.

140116-ocie-tiltWe’re going to take this one if this is really As it Is —>

And while some of the interior shots are almost maddeningly normal, fortunately the agent did not disappoint us with this careful study of the dining room.

140116-ocie-dining

One could almost think the Real Estate Professional was so excited about this Great Opportunity that she couldn’t be bothered to focus the iPhone before running to her car to post the shots.

Comments (10) -- Posted by: madhaus @ 7:06 am






January 14, 2014

Rare Find in Palo Alto!

Every area in life has The Three Words.  In relationships, it’s “I love you,” in business, “It’s a deal,” in math, “Quod erat demonstratum,” and in Latin, “Igpay Atlinlay Erehay.”  We’re sure you can also name The Three Words of Real Estate.

202 EMERSON St140113-pa-location-redfin.jpg
Palo Alto, CA 94301
$1,000,000

2 Beds
2 Baths
1,154 Sq. Ft.
$867 / Sq. Ft.
Built: 1910
Lot Size: 2,775 Sq. Ft.
On Redfin: 36 days
Status: Active
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Cabin
Community: Downtown
MLS#: 81342791

Location, Location, Location! Charming home downtown Palo Alto near Stanford University. This is a rare find in this area. Home is in need of some repairs and it is being sold "AS-IS" Perfect for an Investor looking to remodel or a builder . Seller has also listed adjacent home at 170 Hawthorne.

Yes, The Three Words of Real Estate are “Sold AS-IS.”  Unless it’s “Palo Alto million.”  Perfect for investor.

Comments (22) -- Posted by: madhaus @ 7:08 am

January 11, 2014

Online Realty Pricing Sites: Do They Work?

Yes, they work. But are the prices valid? That’s another story. Let’s listen in as the San Jose Mercury News (motto: We’re a newspaper just like Burbed is a real estate blog, haha!) explains why the valuation models don’t agree with each other.

Online sites can help tell you what your home is worth

141010-avm-unioncityBy Pete Carey, San Jose Mercury News
POSTED:   12/27/2013 05:00:00 PM PST; UPDATED: 12/28/2013 06:17:12 AM PST

You’re likely to get a warm fuzzy feeling if you look at what your home is worth on Zillow, Trulia or any of the other real estate sites that provide values for millions of houses. Home prices have risen rapidly, and the value these sites assign to your home is sure to reflect that.

But don’t carried away by a single Zestimate, SmartZip quote or Trulia estimate. While they are fine for spotting trends, these home valuation services come with a caveat: they offer rough approximations by computer programs. If you want a more precise estimate, hire an appraiser, talk to a real estate agent or check around your neighborhood and see what homes are selling for.

The sites all use what’s called "automated valuation models," or AVMs, to make sense of mountains of data, typically drawn from recent sales, property history, size and number of rooms, market trends and other factors that influence price.

We can’t believe they spent all that trouble writing an article that says, “If you want to really know what your house is worth, hire an appraiser.” There are multiple models out there, but this piece won’t tell you how they differ, or why. We did learn that Santa Clara County prices are more likely to be correct than Alameda County, but again, no explanation why.

We know why!  It’s because the Real Bay Area’s prices only go up, and all the models built that in.  Feel free to speculate on what’s going on with the AVM of your choice and why your house is So Special that the price estimates are Way Too Low.  Unless you’re buying, in which case they are Way Too High.

Comments (5) -- Posted by: madhaus @ 7:11 am

December 23, 2013

Possible Crime Scene in Pacifica

Today’s featured property is no longer available either in this condition or at this price. Yes, you are now priced out forever! But let’s enjoy what you could have had in 2009, if only you had acted! Thanks very much to Redfin Collections member Quinn, who showcased this place in the awesome gallery Possible Crime Scene.  Some Burbed properties are featured there, which is how we found this one and are now returning the favor!

131213-francisco-redfin2222 FRANCISCO Blvd
Pacifica, CA 94044
Sold for $179,000

1 Beds
1 Baths
— Sq. Ft.
Built: 1948
Lot Size: —
Sold On: Feb 27, 2009
Status: Sold
Property Type: Detached Single Family
Community: West Sharp Park
MLS#: 80821476
Stories: 1
County: San Mateo

Complete fixer!!! Everything needs replacing. Do not enter. Property is sold "As Is". Trash and garbage have not been removed. Public records do not state Sq Ft of lot nor building. Age is an estimate. Bulldoze and start from scratch.

Source: MLSListings
Listing provided courtesy of: Galina Plizga, New Light Realty, DRE #01372469
Buyer’s Agent: NON MULTIPLE LISTING OFFICE

Is a non-Multiple Listing Service the same thing as a Single Listing Service?  While you’re pondering that, enjoy the Possible Crime Scene photos from this Non Multiple Listing.

131213-francisco-crib131213-francisco-kitchen131213-francisco-stuff131213-francisco-basket131213-francisco-wtf 131213-francisco-yard131213-francisco-meth

Maybe this is just us, but we’re sure getting a Was This House A Meth Lab vibe from these photos.

And be sure to check out what happened when someone bought the house, bulldozed, tore down, built up, and sold it for a lot mo’ money in 2012.

Comments (3) -- Posted by: madhaus @ 7:06 am

December 20, 2013

Irreplaceable at this price in Monte Sereno!!

Let’s have a look at a property that isn’t jumping into somebody’s lap and getting overbids out the wazoo. Your job is to figure out what is preventing this normal Real Bay Area behavior from taking place.  Thanks very much to Burbed reader nomadic for this find.  Bunus: no longer available on Redfin!

131213-lexington-trulia18331 Lexington Dr
Monte Sereno, CA 95030
$3,624,000 Trulia Estimate

  • 3 bed,
  • 4 full bath
  • 8,710 sqft
  • Single-Family Home

Property Details for 18331 Lexington Dr

18331 Lexington Dr This Single-Family Home located at 18331 Lexington Drive, Monte Sereno CA. 18331 Lexington Dr has 3 beds, 4 baths, and approximately 8,710 square feet. The property has a lot size of 1.25 acres and was built in 1992. The average listing price for similar homes for sale is $2,684,230 and the average sales price for similar recently sold homes is $2,526,783. 18331 Lexington Dr is in the 95030 ZIP code in Monte Sereno, CA. The average price per square foot for homes for sale in 95030 is $788.

Public Records for 18331 Lexington Dr

Official property, sales, and tax information from county (public) records as of 09/2012:

  • 131213-lexington-entrySingle Family Residential
  • 8,710 sqft
  • Stories: 3 story
  • Parking: Garage
  • 1 Building
  • Tax Rate Code Area: 16-010
  • 3 Bedrooms
  • Lot Size: 1.25 acres
  • A/C
  • Parking Spaces: 5
  • Pool: Pool (yes)
  • 4 Bathrooms
  • Built In 1992
  • Heating
  • 9 Rooms
  • County: Santa Clara

131213-lexington-wineWell, that’s fairly boring. Fortunately, Movoto still has the actual listing copy:

Neoclassical Estate–one of a kind–irreplaceable at this price!! Main home has 3 bedroom suites, library, plus full guest quarters with kitchen, bedroom & bath. Separate pool cabana with full bedroom, bath, & kitchen (square footage includes cabana and guest quarters). City lights, mountain views, gated, beautiful pool, minutes to Los Gatos plus fabulus Los Gatos Schools. Five Car Garage!!!

131213-lexington-studyNow let’s check in with nomadic:

Look what I found at Mausoleums R Us.  It isn’t exactly a Black Friday special, given that it’s been on the market nearly five months without a price reduction.

Looks like it went pending after nomadic sent it on, on December 9th, and the agent promptly yanked it with the useful Pending/Do Not Show designation.  And while Redfin doesn’t have a thing for us to see, both Trulia and Zillow have plenty of pictures, and Zillow also has the listing history.  Check this out!

131213-lexington-price-history

Any predictions on what the selling price will end up being? We’re throwing in for fifteen million!

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

December 18, 2013

Wow! AS-IS Cash Only

Today’s prestigious property was brought to you by Burbed reader shannon. Enjoy!

131210-rutledge-redfin37 Rutledge St
San Francisco, CA 94110
$749,999

2 Beds
1 Baths
900 Sq. Ft.
$833 / Sq. Ft.
Built: 1906
Lot Size: 1,750 Sq. Ft.
On Redfin: 98 days
Status: Pending
Property Type: Single-Family Home
Community: Bernal Heights
MLS#: 412399
View: Panoramic, City Lights, San Francisco
County: San Francisco

WOW 2 Continguous Properties in One (must purchase together) For S131210-rutledge-toilet-peekale AS-IS and must be Cash-only. At end of Mullen and part of the Bernal Steps with views/street access for parking and TONS of potential for the right buyer. Lot 21 is a 2 bedroom house-non-habitable. Lot 22 a Vacant Lot with Carport on it for parking for both lots. Both properties are 1750 sq. ft. as typical for Bernal Hts. for a total of 3500sq. ft! Lots are stepped down from street but are level lots. Brand new construction on three sides make this a prime site.

Shannon remarks:

Grandma’s house of horrors can be yours for $749,000

Wait! There’s a vacant lot next door, a whopping 1750 square feet!  And just look at all you get!

131210-rutledge-ugh131210-rutledge-arty131210-rutledge-tile131210-rutledge-comingsoon

Comments (3) -- Posted by: madhaus @ 7:06 am

December 16, 2013

This home is in need of extensive repairs… Ideally located

Thanks very much to all our readers, all five of them, who keep checking in, hoping we have some new content. Today’s what-the-fuck-is-THAT property has been brought to you by Burbed reader Swan!  Thanks very much!

Want to keep reading fresh new finds at Burbed?  Send us stuff!

131210-myrtle-redfin1072 MYRTLE St
San Jose, CA 95126
$369,000

2 Beds
1 Baths
600 Sq. Ft.
$615 / Sq. Ft.
Built: 1920
Lot Size: 6,250 Sq. Ft.
On Redfin: 54 days
Status: Active
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Cottage/Bungalow
Community: Santa Clara
MLS#: 81338204

Rare Investors/Contractor’s Fixer Upper Special! This home is in need of extensive repairs, or it can be demolished and rebuilt. Zone M1 (Light Industrial) with many possibilities! Ideally located 5 minutes from Santa Clara University next to the beautiful Rose Garden Area. Walk across the street to the newly built Newhall Park with lawns, picnic areas and playground.

131210-myrtle-stuff131210-myrtle-saluteHere’s what Swan had to say about today’s house.

Just trying to help Burbed keep the masses happy!

I am pretty sure this house can’t say, "Done with permits."  I am not even sure it’s legal to live in this place, but the toilet seat is up welcoming the next owner!

We guess that says it all – except there’s way more pictures than this, so you can get an idea of just what they mean by “extensive repairs.”

131210-myrtle-walls1131210-myrtle-walls2

You know what else they forgot to mention? Close to transportation! This is the Nelson Mandela of Close to Transportation because it has accomplished everything.

131210-myrtle-aerial

Comments (1) -- Posted by: madhaus @ 7:08 am

December 14, 2013

Priced Out For-EVEH AGAIN!

Don’t look now, but the FHA just swiftly kicked California in the housing numb…ers.

Housing Agency Will Reduce Mortgage-Loan Limits

FHA will drop the maximum mortgage loan it will guarantee next month

131213-mortgageBy NICK TIMIRAOS, Wall Street Journal, Dec. 6, 2013 5:17 p.m. ET

The Federal Housing Administration will drop the maximum size of home-mortgage loans that it will guarantee beginning next month in nearly 650 counties, the agency said Friday.

The maximum for single-family homes in certain "high-cost" housing markets including Los Angeles, San Francisco and New York will fall to $625,500, from the current level of $729,750.

The FHA doesn’t make mortgages but instead insures lenders against defaults on loans that meet its standards. It allows borrowers to make down payments of just 3.5% and has played an outsized role backstopping mortgages in the aftermath of the housing bust.

You just know those New York and DC types are behind this, trying to harsh our mellow, and kill our housing price leadership.

131213-fhaWell, we just have one thing to say to that: PTHTHBBBT.  That’s not going to hurt us here where the Engines of Creativity run 24/7/365.25.  No FHA mortgage backstop means everyone has to put 20% down on their above-$625,000 loans.  But so what?  Everyone here has a brazillion stock options and can buy houses for cash found under their Tesla Model S seat cushions! You know who that’s going to hurt, instead?

Los Angeles.  Moohahahahaha!  Look at the reaction by the California Association of Realtards, who are terrified of county median values resetting downward.  Of course, in the Real Bay Area, prices continue to only go upwards.

And as this is the first Weekend Open Thread we’ve provided in a while, feel free to comment on government housing issues, why SoCal’s housing market sucks compared to ours, or anything on your mind.

Comments (7) -- Posted by: madhaus @ 7:03 am

December 13, 2013

Celebrate this Property’s Centennial by Making it Yours

Other than the grousing about infrequent updates, people often say to us: “If only Burbed would run more older homes full of character!”  If only.  This Woodside wonderama features a house built in 1914 complete with a stupid street name PLUS the designer of the flipping playhouse gets a name-check. If that doesn’t make you reach for your bank-check, we don’t know what’s wrong with you.

Thanks very much to Burbed reader Petsmart Groomer for sending something in even when we didn’t feel like posting squat.

131210-upenuf-redfin37 UPENUF Rd
Woodside, CA 94062
$1,995,000

5 Beds
5 Baths
2,800 Sq. Ft.
$713 / Sq. Ft.
Built: 1914
Lot Size: 4.30 Acres
On Redfin: 102 days
Status: Active
Property Type: Detached Single Family
Stories: 2
Community: Old La Honda Road Area
MLS#: 81332003
Style: Cabin, Cottage/Bungalow
View: Bay, Valley, City Lights
County: San Mateo

Welcome to Upenuf View Lodge, circa 1914, one of the original lodges in the hills. 3 bed/3 bath on 4+ acres. Artist studio built in the 1860′s, and 2 bed/2bath guest house. Unique opportunity to bring this family compound into the 21st century. Live amongst the Redwoods with unsurpassed views of the valley. Barbara Butler designed playhouse. Award winning Portola Valley Schools. Only 10 minutes to 280

131210-upenuf-wutWait – artist studio built in the 1860s? That would be like being built in 1660 if this were the East Coast, or 1060 if we were in England.

Do you think this is the studio that dates from the Civil War, or just the Barbara Butler designed playhouse? Inquiring minds want to know… who the heck is Barbara Butler?

Also, check out the map on Redfin, this home is west of Skyline.  From some of the other Redfin photos, you’ll find this property is much more La Honda Hippie than Woodside Wealth.

Comments (5) -- Posted by: madhaus @ 7:07 am

December 11, 2013

Mountain View move-in!

Enough with the catty comments about no posts in two weeks. We’ll post when and if we feel like it, no matter what websites are on your toolbar. Today’s heralded homestead is from z2amiller and this is a hot, hot property! Why? Because it’s CLOSE TO GOOGLE!

131210-spring-redfin1639 SPRING St
Mountain View, CA 94043
$500,000

— Beds
— Baths
— Sq. Ft.
Built: —
Lot Size: 5,300 Sq. Ft.
On Redfin: 6 days
Status: Active
Property Type: Residential Land (Single Family)
Community: North Shoreline
MLS#: 81342322

Lot still has foundation left from house burn down Jan. 2013. Nice neighborhood close to HWY 101

The Streetview photos show the property before house burn down Jan. 2013 (but really, it’s a nice neighborhood close to HWY 101!)  Fortunately, z2a thinks bigger than that.

IMG_20131206-spring-fire2Okay so now I feel bad.  I went to take pictures of this place and there’s basically a person squatting here with possessions scattered around and it looks like they are taking shelter under a tarp tied up in a tree.

I am guessing it is the property owner, with as much stuff as there is the property, MV police would’ve kicked them out if they didn’t belong.  (I think?!)   Also based on the MV voice article the lady who lived there was a hoarder, so given the state of the property (all of the garbage bags and random stuff all over) maybe it is the same person.

IMG_20131206-spring-fire1You can see the back of the person’s head (DHO?) in one of the pictures, hanging out under the tarp.

Anyway I’m having a hard time being too snarky about it now.  :-/

I guess the neighbors will be pretty thrilled when the place sells.

And that could be you, Mr. or Ms. Burbed reader, all three of you. You could put up a six-story apartment house and become rich beyond measure renting out cubicles to Googlers who will only come home to sleep.

Comments (7) -- Posted by: madhaus @ 7:07 am