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:

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

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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 13, 2014

Tears of joy: San Francisco versus Manhattan versus Brooklyn and more

http://time.com/money/3063930/the-15-most-expensive-cities-for-millennials/

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When it comes to least affordable counties to buy a house, four of NYC’s five boroughs take up almost a third of the list, with Manhattan (New York County), Brooklyn (Kings Country), the Bronx (Bronx County), and Queens (Queens Country), each “earning” a spot.

The West Coast isn’t off the hook, either. Beating out Manhattan for the dubious honor of most expensive city for young people is San Francisco. Buying a median-priced three-bedroom house—$950,000 as of this April— in the City by the Bay will cost median income earners more than 78% of their wages.

I really can’t help but have tears of joy every time I see this chart.

For so long, all of us worked together to ensure that the Real Bay Area would one day defeat our arch nemesis, Manhattan, to ensure that we were the most expensive place to buy real estate.

And now the news is spreading far and wide that we’ve done this.

San Francisco beats Manhattan (aka New York County), Brooklyn (aka Kings County), Queens, and (I’m guessing) Staten Island. All 5 boroughs. A sweep. One city crushes another city.

Sure, we still need to beat Tokyo and London. But this is a fantastic start.

And there’s more. By being more expensive than NY, we will attract attention as being expensive – this will help prices soar even further as panic buying sets in.

Watch out Tokyo and London – you’re next.

In the meantime, take that New York and Manhattan! We’re #1! We’re #1! And more people know it than ever now!

What will you be doing to help us beat those cities?

Comments (9) -- Posted by: burbed @ 5:12 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

August 6, 2014

Is now the best time to buy, ever?

The Real Bay Area is all about data. Big data!

So here’s some big data!

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Green line continues to be below the blue line.

Is now the best time to buy? Ever?

Where are all the math/finance nerds?

Comments (11) -- Posted by: burbed @ 5:38 am

August 4, 2014

San Bruno house great for both of your families

828 4TH Ave
San Bruno, CA 94066
$868,888 Price 
5 Beds 
3 Baths  1,358 Sq. Ft.
$640 / Sq. Ft.
Built: 1934 Lot Size: 5,000 Sq. Ft. On Redfin: 50 days Status: Active
20140804

JUST REDUCED BY $20,000 –Two Homes on one lot- Detached . One car garage- deep driveway-plenty of parking-large lot. Ideal for people who have two families. A good investment. GREAT POTENTIAL– CHECK OUT NEIGHBORHOOD IMPROVEMENTS, ALSO CLOSE TO NEW CALTRAN STATION ON SAN BRUNO AVE

Thanks to Burbed reader Mr_Handy for this find!

Here’s what he had to say:

“Ideal for people who have two families.”  I dunno about you guys, but I don’t want my wife and my mistress living that near each other. :D

I dunno, Mr_Handy. Have you thought about the potential for residuals from a reality TV show – and the merch that might go along with it? I’m thinking “Big Love – San Bruno”

Also, once again, let’s not forget the plenty of parking situation. You could operate your own airport car park here! More income streams!

This seems like a huge potential for people who want to make money.

Can you think of any other ways to make money from this house?

Comments (4) -- Posted by: burbed @ 5:34 am

July 28, 2014

This one will not last! … in San Carlos

2508 EATON Ave
San Carlos, CA 94062
$729,750 Price 
3 Beds 
2 Baths  1,590 Sq. Ft.
$459 / Sq. Ft.
Built: 1949 Lot Size: 4,500 Sq. Ft. On Redfin: 2 days Status: Active
20140727
INVESTOR OPPORTUNITY! Loads of upside potential. Needs updating and foundation repairs. Located in the Carmelita Manor neighborhood with well cared for and high-end homes. Easy freeway access for commuting to Silicon Valley or San Francisco. Act fast! This one will not last!

There’s a saying that you should buy the worst house in a good neighborhood.

Is that this house?

Could you actually update this house and repair its foundations? Or will you need to tear it down and rebuild? That’d be another $500k-$600k.

Is that what they mean by this one will not last? If there’s a big puff of air, will this immediately fall over?

That said, if you do tear down this house, you should at least salvage this:

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Check out that yellow faucet. Now if that’s doesn’t make this house, I don’t know what would.

So, are you going to buy this, you smart “investor”, you?

Comments (13) -- Posted by: burbed @ 5:57 am

July 23, 2014

San Francisco median home prices are $1 million! Congrats!

For the First Time, San Francisco Is a Million Dollar City

Median home prices in SF hit record high

Median home prices in San Francisco broke a new record, for the first time ever topping $1 million. That’s the first time that the nominal median—the figure at which half of all sales are above and half below—broke the seven figure barrier in the Bay Area. The year-over-year change in nominal median sales prices for the city was 13.3%.

Part of the jump comes from an influx of cash buyers, including what real estate agents are calling "Google kids," or folks with hefty stock compensation looking to get into real estate. There’s also an influx of investors from outside the United States, particularly China and the rest of Asian, who see San Francisco as a strong investment. The flip side—limited supply. The Chron quotes one real estate expert as saying, "The number of new units pales in comparison to the number of new jobs in San Francisco."

The cost of renting an apartment continued to increase, with a jump of 5.6% in the first quarter of the year to an average of $2,158. Without the addition of 2,171 units of housing in San Francisco, and many more in the region as a whole, over the last year, that increase would have been even higher. Just look at Oakland, which added no new apartment buildings at all in the last year, and saw its average rents jump 10.6% in the first quarter of 2014.

Congrats everyone! Working together we did it! $1M!

We have surpassed our arch-nemesis of Manhattan which is only $972k!

Quick! Everyone use uber to the nearest bar and break open the champagne!

Any predictions for next year? Will it be $2M or $3M?

Comments (3) -- Posted by: burbed @ 5:26 am

July 21, 2014

Great starter opportunity in Cupertino with drought tolerant landscaping

10732 MORENGO Dr
Cupertino, CA 95014
$998,888 Price 
3 Beds 
2 Baths  1,249 Sq. Ft.
$800 / Sq. Ft.
Built: 1955 Lot Size: 6,600 Sq. Ft. On Redfin: 10 days Status: Active
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Great starter opportunity in the award-winning Cupertino School District. This 3/2 has updates in Kitchen, baths, dual-pane windows, new siding & insulation and drought-tolerant landscaping. Large lot with room for expansion.

Once again, it’s a 888 house in Cupertino. Hey Chinese buyers – this is your lucky house! (Well, that and the other 1204 888 houses…)

Let’s check out the updated kitchen and bath… oh wait… there are no other photos. Huh.

Well, let’s look at this photo then. You can definitely see the drought-tolerant landscaping. I believe the dominant species here is Concretus everywheri. Very drought tolerant. In fact, too much water could definitely be a problem.

I’m a little perplexed as to what that thing in front of the house is. Is that a volley ball net for really tall people?

Something else?

How much do you think this house will sell for? I’m guessing $1.5M.

Comments (4) -- Posted by: burbed @ 5:48 am

July 16, 2014

A new challenge for Real Bay Area Real Estate

Thanks to Burbed reader Nomadic for this find:

Stash Pad

Those on the New York end of the transaction often don’t know—or don’t care to find out—the exact derivation of foreign money involved in these transactions. “Sometimes they come in with wires,” says Luigi Rosabianca. “Sometimes they come in with suitcases.” Most of the time, the motivation behind this movement of cash, and buyers’ desire for privacy, is legitimate, but sometimes it’s not. An inquiry by theInternational Consortium of Investigative Journalists, a Washington-based nonprofit, has uncovered numerous cases in which New York real estate figured in foreign financial- and political-corruption scandals. “It’s something that is never discussed, but it’s the elephant in the room,” says Rosabianca. “Real estate is a wonderful way to cleanse money. Once you buy real estate, the derivation of that cash is forgotten.”

More typically, though, foreign buyers are searching for a favorable investment climate and the identity protection provided by an LLC. Rosabianca’s client, the Italian, lives in Nigeria, where her husband is in the oil business. But she said she was still a tax resident of her home country, giving me a knowing look. Italy taxes its citizens’ overseas assets—if it can find them. “To invest in Italy now is terrible,” she said. So the Italian spent most of her Sunday in taxis, bouncing from Gramercy to Tribeca to the High Line in search of the right place to store her wealth.

She ended up back downtown at 75 Wall Street, where she saw a unit she liked: a one-bedroom belonging to a Panamanian-owned company. She ended up making an offer on both that one and the condo at 20 Pine, but ultimately settled on yet another unit at 75 Wall for $1.3 million. The seller was also an LLC, its true owner unknown.

(Click to enlarge)

How unfortunate. How very, very, very unfortunate.

Not once does this article mention the Real Bay Area. Where is Cupertino in any of this? Palo Alto? Even San Francisco?

Why is New York getting all this laundered money?

Dear Russians, Nigerians, Chinese, Brazilians – the Real Bay Area is just as prestigious as Manhattan and London. Please send your millions of dollars in cash and loose diamonds here. We need your help to drive real estate to $5,000 per square foot!

Please act today!

Comments (1) -- Posted by: burbed @ 5:05 am

July 14, 2014

Super development opportunity in Redwood City

249 E OAKWOOD Blvd
Redwood City, CA 94061
$698,000 Price 
2 Beds 
1 Baths  840 Sq. Ft.
$831 / Sq. Ft.
Built: 1920 Lot Size: 6,578 Sq. Ft. On Redfin: 71 days Status: Active

20140714 

NOW’S YOUR CHANCE! GREAT PRICE FOR SUPER DEVELOPMENT OPPORTUNITY FOR CASH BUYER & QUICK CLOSE. ABOUT 6,580 SQ FT LOT ZONED R-1. GREAT SPOT TO BUILD A NEW HOUSE & MAYBE A GUEST HOUSE – CHECK W/ REDWOOD CITY FOR GUIDELINES. FLAT, SUNNY LOT. OLDER COTTAGE OCCUPIED BUT NEEDS EVERYTHING. PLEASE DO NOT DISTURB OCCUPANTS OR GO ON THE PROPERTY WITHOUT ME. "FELL THROUGH" – NO FAULT OF THE PROPERTY.

Who doesn’t want a super development opportunity?

I mean, just look at this! It even comes with some supplies to help jumpstart your new project!

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That’s probably a good thing since there is an older cottage that is “occupied but needs everything”.

But hey, just check out what else this house comes with:

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Awww. How cute!

What would you do with this super development opportunity in Redwood City?

Comments (1) -- Posted by: burbed @ 5:11 am