May 25, 2013

Why Everyone Loves Realtards: Part LXIV

130520-billboard-realtard

Self-serving arguments: what else would you expect?  Item for discussion: which is cheaper, a divorce or a bigger house? Be sure to indicate where said house would be.  And if you push for downgrading your school district while upsizing your residence, the divorce may well follow on its own.

It’s the weekend! In fact, it’s a three-day weekend! Will you look at more or fewer Open Houses?  Will you post more or fewer comments in this Weekend Open Thread?

Photo from Funny Signs website.

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






May 24, 2013

Overbids: Now on twitter

Today we’re going to follow up on a tweet that highlights the market in San Bruno.  Thanks very much to @davnic4.

Just in case that embedded tweet doesn’t share the photo attached, here it is:

130522-sanbruno-tweet

Can you believe it indeed?

130522-fleetwood-redfin3445 FLEETWOOD Dr
San Bruno, CA 94066
Sold for $660,000

3 Beds
2 Baths
1,440 Sq. Ft.
$458 / Sq. Ft.
Built: 1964
Lot Size: 0.34 Acres
Sold On: Mar 28, 2013
Property Type: Detached Single Family
Stories: 1
Community: Monte Verde
MLS#: 81308204
Style: Contemporary
View: Neighborhood
County: San Mateo

First time on the market! This San Bruno fixer offers 3 bedrooms, 2 baths with open floor plan with plenty of natural light and inviting garden . Great potential to make this gem shine. MUST SEE!!!

Let’s see what else it offers.

130522-fleetwood-kitchen130522-fleetwood-fireplace130522-fleetwood-wallpaper130522-fleetwood-view130522-fleetwood-patio130522-fleetwood-yard130522-fleetwood-carpet

This carpet looks like it has more chlorophyll than the grass.  Now, check out the aerial view (because there’s no streetview). Looks like you’re going to get to know the neighbors really well!

130522-fleetwood-aerial

And what’s that in the backyard?  A freeway (CA 35) PLUS high tension power lines! Win-win-win!

Comments (6) -- Posted by: madhaus @ 5:08 am

May 23, 2013

This charming home is in the process of being highly updated

Let’s check in with Burbed reader J from Alameda, who seems to be spending a lot of time not in Alameda of late.  Once more J has a house for us in Walnut Creek. Is it Burbed-worthy?  You know the answer!

130522-buena-trulia2215 Buena Vista Ave
Walnut Creek, CA 94597
$599,000

(Overlook)

4 bedrooms
2 full bathrooms
1,416 sqft
Single-Family Home
For Sale / Resale
$2,682 / mo
20 Days on Trulia
476 views
Bungalow Architecture
Heating: Gas
Lot Size: 6,860 sqft
Built in 1930
Neighborhood: Overlook
MLS/Source ID: 81314840
Zip: 94597
1,416 sqft

2215 Buena Vista Ave Built in the 30?s this charming four bedroom home is in the process of being highly updated throughout property inside and out. Buyer can choose colors if upgrade work has not begun. Walk to BART, freeway around the corner and other amenities.

130522-buena-backWell, we thought where it says Overlook up top that was an order. But J sent it in to us anyway. Here’s why, despite it being in the East Bay and everything:

More freeway! At least the agent almost told the truth – Joe says the freeway is around the corner but it’s really across the street. Of the 16 listings photos how many are the same? Finally, no inside pictures? I want to see the freeway view!

130522-buena-streetviewYour wish is granted.  That’s the streetview from the house.  Bunus: trash bins!

We apologize for not using Redfin today (that’s what J sent in) but they occasionally take their system down when we’re writing, so we had to give someone else a turn.  So helloooooooooo Trulia! Also this is another chance to complain about Redfin not linking to our posts anymore.

Oh, and we counted up the photos. We think there are only actually 3 of them.

But you can choose your colors if you hurry!

Comments (4) -- Posted by: madhaus @ 5:08 am

May 22, 2013

So much potential nestled on the hill

Yesterday we had a place in hot, hot, HOT Mountain View that has been on the market for more than a hundred days.  That was a fun game, so let’s play Why Won’t This House Sell yet again.  Today we move to San Mateo County and the delightful breezy bivouac of Brisbane!

130521-sierra-redfin772 Sierra Point Rd
Brisbane, CA 94005
$629,000

3 Beds
1.5 Baths
1,400 Sq. Ft.
$449 / Sq. Ft.
Built: 1968
Lot Size: —
On Redfin: 130 days
Property Type: Single-Family Home
Community: Brisbane
MLS#": 403999
View: Bay
County: San Mateo

So much potential nestled on the hill, great floor plan. SF Bay views from almost every room, kitchen breakfast bar, living room with fireplace, 2 car garage, deck in front, back yard has stairs leading up to tiered gardens of peach, lemon and Japanese plum trees, absolutely gorgeous when in bloom. Yellow roses, and room for your gardening dreams. Inside open stairway with wall of colored/obscure glass that could be replaced with windows with more SF Bay views. Low E Dual pane windows only 4 years old, Furnace only 7 years old and new water heater. Broken window and minor wall repairs will be done by sellers. House is dated and needs some TLC for sure.

130521-sierra-windowsIs this the wall of colored/obscure glass on the left? Better not break any of it, as it’s going to be a long look through lots of old, musty catalogs finding where to replace that.  And really, who cares about the house anyway? Value is in the land, because what you’re paying for is this view of the Bay.

And of the power lines.

130521-sierra-view

Comments (4) -- Posted by: madhaus @ 5:05 am

May 21, 2013

House in Mountain View Still for Sale!

We’ve been discussing where all the hot markets are in the Bay Area, and Mountain View is hot, hot, HOT! So today, let’s play Why Isn’t This House in Mountain View Selling?  Thanks very much to Burbed reader LomaLuvr who sent this in and Burbed reader Real Estater who mentioned this house in comments.

130520-independence-redfin753 INDEPENDENCE Ave
Mountain View, CA 94043
$698,000

3 Beds
2 Baths
1,347 Sq. Ft.
$518 / Sq. Ft.
Built: 1946
Lot Size: 6,720 Sq. Ft.
On Redfin: 103 days
Property Type: Detached Single Family
Community: Rengstorff
MLS#: 81303560

Great Potential in Monta Loma Neighborhood. Open Floor Living, Dining, Kitchen. Some Marble Floors. Remodeled Kitchen, Granite CounterTops. Stainless Steel Appliances. Large Master Bedroom Suite Completed 2003. Central Heating. Dual Pane Windows throughout. Large Patio Deck. Large BackYard. Long RV Parking-Near Silicon Valley, Google, Schools, Transportation-Few Blocks from Monta Loma Elementary School.

Not only has this house been on the market more than a hundred days, it got relisted!  Let’s see what’s inside to get just a taste of what it has to offer.

130520-independence-fireplace130520-independence-beds130520-independence-kitchen130520-independence-kitchen2130520-independence-master130520-independence-toilet2130520-independence-toilet130520-independence-sink

And, WOW! Can you say FIVE different Redfin agent tour insights?  Okay, one of them posted twice.

130520-independence-agents

130520-independence-racewayWho cares about natural light? Probably some Googler is going to buy this house and never come home during daylight hours because there’s free food for every meal.  And noticeable sloping means MARBLE RACEWAY!

Comments (7) -- Posted by: madhaus @ 5:06 am

May 20, 2013

Oppulent Half Moon Bay Home, is just the one, you’ve been waiting for!

Let’s get back to business. Homes are awaiting your overbids, like this one!

130519-highland-redfin635 HIGHLAND Ave
Half Moon Bay, CA 94019
$1,199,900

4 Beds
3 Baths
3,130 Sq. Ft.
$383 / Sq. Ft.
Built: 1995
Lot Size: 8,625 Sq. Ft.
On Redfin: 73 days
Property Type: Detached Single Family
Stories: 2
Community: Highland Park
MLS#: 81307076
Style: Contemporary
View: Neighborhood
County: San Mateo

This spacious & extensively remodeled home, in a wonderful neighborhood, is just the one you’ve been waiting for! The inviting floor plan flows effortless from room to room and features a great-room with a large granite entertainment island, chef’s kitchen with stainless Viking appliances and direct access to the sunny deck, luxurious master suite with oppulent marble bathroom. Huge 3-car garage!

It also features extra commas and way too much High on that Dynamic Range.  Sheesh, they must have dialed that sky up to 11.  This listing is definitely in the picture is worth a thousand words category.

130519-highland-wreaths130519-highland-boats

Nothing like a house marketed during Spring Bounce reminding us that Christmas comes but once a year.  However, boat tchotchkes seem like they’re sailing in constantly.

130519-highland-tv130519-highland-deck

Not only does the TV work, there’s some semblance of a back yard to this place.

130519-highland-emptyracks130519-highland-laundry

However since wine is not a boat, the racks are empty.  We’re also showing the laundry room because these appliances might not quite go with the carpet.

We also have a theory why this house isn’t selling in such a sizzling hot market. It has something to do with that sunny deck above, too.  There may be good reasons to stay inside by the ginormous granite island instead.

130519-highland-aerial

Bunus: Virtual Tour complete with animated book reminds you this isn’t Hogwarts.

Comments (8) -- Posted by: madhaus @ 5:01 am

May 19, 2013

Real American Area: No Bubble. Real Bay Area? Otherwise.

Here’s part 1643 of Proof there is indeed a Bay Area Bubble 4.0.

Housing Bubble Unlikely, Home Price Appreciation Should Slow – CoreLogic

BY JANN SWANSON, Mortgage News Daily
May 16 2013, 11:10AM

CoreLogic said today that home prices are projected to increase 3.9 percent on an annualized basis between the fourth quarter of 2012 and the same quarter in 2017.  However, a new housing bubble is not likely as market dynamics shift for both supply and demand.  Prices rose 7.3 percent in 2012.

The CoreLogic Case-Shiller Index report notes that the increase in 2012 was the strongest rate of appreciation in nearly seven years and projected that prices will continue to improve in 2013 and beyond in the more than 380 U.S. markets it tracks.  The company’s current analysis says that, "Cities at epicenter of housing bubble/crash are clocking highest rate of appreciation, largely driven by investor demand."

130518-homeprices-map

This map comes to us thanks to Burbed reader PKamp3 over at DQYDJ.net, who linked us to the story in Business Insider. However they got the story from Jim the Realtor’s BubbleInfo blog, who in turn got it from Mortgage News Daily.  And it’s a good thing we traced the map (and story) all the way back to the original article, because it has some seriously amusing conclusions to anyone who lives Where It’s Special.  And that’s without making fun of the name of the Chief Economist for CoreLogic/Case-Shiller.  Nah, we’ll just make fun of his opinions of whether there’s a housing bubble:

Dr. Stiff tamped down concerns of another housing bubble. "Even if double-digit price appreciation were to continue in the former bubble metro areas, there is no reason to believe that new home price bubbles are forming. That’s because single-family homes in these markets are still very affordable, even after last year’s large price gains. Consider Phoenix, where home prices rose 27 percent since the market hit bottom in 2011, making it the strongest residential real estate market in the U.S. Yet, home prices there are still 45 percent below their 2006 peak," Stiff continued.

Yes, if you would consider living in a hellhole like Phoenix with summer daytime temperatures routinely above 110 degrees Fahrenheit, of course you’d note that these markets are still very affordable. But nobody uses the words “Real Bay Area home prices” and “affordable” unless they are separated by some sort of negating construction.

Lest you think we are making this up, the San Francisco-San Mateo-Redwood City metro is the least affordable in the entire country, with only 28.9 percent of homes affordable by a median income household. That’s right, we’re Number One again, beating out 221 other metros for the crown!  Santa Cruz-Watsonville is #4 (37.1%), while San Jose-Sunnyvale-Santa Clara isn’t far behind at #6 (43.3%) and Salinas (44.4%) at #7.

130518-homeprices-paragonWhere’s Phoenix, the brick oven that’s still 45 percent below their 2006 peak? They’re at number 57 in unaffordability.

Let us remind everyone that San Francisco and San Mateo Counties never dropped 45 percent below peak. The reason the San Francisco Case-Shiller numbers dropped as much as they did is because they’re completely weighed down by Alameda and Contra Costa Counties.

It’s the East Bay that dropped like a rock after 2006, not the Real Bay Area.  And like a pair of cement overshoes, the East Bay took the whole SF Case-Shiller index down with it. Even the upper tier (the top third of home prices) is affected by this home distribution.

130518-homeprices-paloaltoAnd let’s check those East Bay numbers.  Oakland-Fremont-Hayward turns in a respectable #24 in the You Can’t Touch This index, showing it’s no Phoenix, either.

So we have some words for that Stiff Doctor: There is too a Bay Area Bubble 4.0. We see it every single day even outside the Real Bay Area. We see peak pricing. We see bidding wars. We hear from readers reporting lines to enter Open Houses, or appraisals coming in higher in just a few weeks, or as-is cash overbids on homes where the would-be buyers didn’t even bother going inside.

Inotherwords, Dr. Stiff, maybe you need to get over your Phoenix fixation and check out the parts of the country where the housing bubble is very much back.

Comments (4) -- Posted by: madhaus @ 5:04 am

May 18, 2013

Is it the weekend already?

And if it is, does that mean time to look at Open Houses?  Let us know what’s out there.  We hear overbidding happens sometimes.  Let us know about it because we’re going back to bed.

130517-forsale-croak

This is also your weekend open thread! Speak up before somebody croaks.

Click here to post a comment -- Posted by: madhaus @ 5:05 am

May 17, 2013

WOW! So many exclamation points in Walnut Creek all done with permits!

To finish out the workweek, let’s check out a place perfect for the athlete in us all. Thanks very much to Burbed reader J from Alameda for this well-sited wonder in Walnut Creek.  (You can laugh about our including yet another East Bay listing, but we have just one word to say about that. PENDING!)

130516-bonita-redfin1261 Bonita Ln
Walnut Creek, CA 94595
$649,000

3 Beds
2 Baths
1,356 Sq. Ft.
$479 / Sq. Ft.
Built: 1948
Lot Size: —
On Redfin: 15 days
Type: Detached
Stories: 1
County: Contra Costa
Style: Contemporary
Community: Walnut Creek
MLS#: 40612878

WOW! Immaculate 3 bedroom/2 bathroom home in cul-de-sac location with separate 1 bedroom/1 bath cottage all done with permits! Gleaming hardwood floors, designer colors, and more. Nicely landscaped yards with Jacuzzi and lighted SPORTS COURT! Walk to Olympic in 2 minutes on nearby trail!

130516-bonita-sportscourtHere’s why J sent this house in:

This is a first: freeway noise wall in a listing photo! Granted its a photo of a cool basketball court but still. Cute house but what’s the air quality going to be like? Forget asking about noise issues. I’ve heard the freeway noise in these neighborhoods described as ‘a waterfall’, ‘white noise’, ‘rushing water’. Will it go over asking? Will it get multiple offers? Could a house with a freeway wall in the backyard ever sell in a market that is not red hot? Discuss.

130516-bonita-collectionsYou see a freeway wall, J. We see a lighted SPORTS COURT!

And note the Redfin Collections this house is part of. Is this a new category we’ve managed to miss until now? How can you even tell a property is subject to a bidding war unless you’re one of the people bidding on it?

Or was this one of those places where you had to wait in line to get into the Open House, where you felt obligated to submit an overbid when it was finally your turn to tour the interior?

Comments (7) -- Posted by: madhaus @ 5:09 am

May 16, 2013

Now is the time to Buy!

Today we’re headed to the always exciting City of Sunnyvale, where Burbed reader Dannyman has a found a house for you! No endless windows to clean, doorknobs to polish, or miles of marble to scrub. This house is cute, compact, and convenient: everything at your fingertips!

20130515-duane-redfin596 E DUANE Ave
Sunnyvale, CA 94085
$499,000

3 Beds
1 Baths
1,009 Sq. Ft.
$495 / Sq. Ft.
Built: 1952
Lot Size: 5,600 Sq. Ft.
On Redfin: 14 days
Property Type: Detached Single Family
Community: Sunnyvale
MLS#: 81314510
Stories: 1
County: Santa Clara

Recently remodeled bright home close to N Fair Oaks Avenue. Minutes away from freeways, shopping and restaurants. Large fenced lot with fruit bearing Avocado and Fig trees. Well maintained lawn, lots of big windows. Large lot to entertain and relax.

130515-duane-viewYes, at 1009 square feet, you should be able to clean the ceiling and dust the baseboards at the same time. But here’s why Dannyman sent this to our (and your) attention:

Check sales history. :)

Okay, we shall!20130515-duane-history

Wha, what, sold two weeks ago?

130515-duane-130426596 E DUANE Ave
Sunnyvale, CA 94085
Sold for $385,000

3 Beds
1 Baths
1,009 Sq. Ft.
$382 / Sq. Ft.
Built: 1952
Lot Size: 5,600 Sq. Ft.
Sold On: Apr 26, 2012
Property Type: Detached Single Family
Stories: 1
Community: Sunnyvale
MLS#: 81210383
Style: Traditional
View: Neighborhood
County: Santa Clara

Great starter home ready for your family to move in. Freshly painted exterior. New kitchen cabinets & counter tops. New flooring throughout. Large rear yard, design to your liking, would be great for family or entertaining. Hot water heater new in 2004.

130515-duane-oldkitchenSee that? Even not-Real-Bay-Area homes are such a fantastic investment, you don’t even have to brag about a hot water heater that was new in 2004 anymore. Just buy a house, any house, and put it right back on the market. 

Then sit back in your large lot to entertain and relax while the overbids come pouring in.

You could even keep the hot water heater.

Comments (13) -- Posted by: madhaus @ 5:03 am