February 5, 2007

God forbid something slips into that crack…

MLSlistings Property Detail for MLS number 702958
San Jose, CA 95126


This Single Family Residence has the following features:
MLS#: 702958 Approx Age: Unavailable Approx Sq Ft: 910
Detached Single Family 2 Stories 3 Bedrooms

Ignoring the lack of symmetry – what would you do if something fell in between the two houses? Would you have to go to the roof to fish it out?

Click here to post a comment -- Posted by: burbed @ 5:15 am

Guess how many Realtors(R) there are in California?

Press-Telegram – <b>Realty Bites:</b> No. of Realtors at all-time high
About one in 70 Californians is now a licensed Realtor.

As of December there were more than 521,000 licensed Realtors in California, according to the DRE, which issues licenses.
Here are a few ways to look at the state’s real estate populous:

The number of Californians with a real estate license would fill Joe Robbie Stadium in Miami where Super Bowl XLI is being played next month – seven times.

There are more licensed Realtors in California than the population of Long Beach, the state’s fifth-largest city.

Wow. That’s like over 10 Cupertino’s worth of people!

Click here to post a comment -- Posted by: burbed @ 5:08 am

February 4, 2007

1 Year of Burbed! Let’s follow up on 96 Buckingham Ave, Redwood City, CA 94063

Wow! Can you believe that it’s been one year already since the first post on Burbed?

Here’s the house from the first post:

$555k – “Great Potential” in Redwood City — Burbed.com: Your Silicon Valley Home and Mortgage Insanity Blog

Whatever happened to this fine Bay Area house?

Palo Alto Online Palo Alto Weekly: HOME SALES (May 5, 2006)

96 Buckingham Ave. Fong Trust to P for $585,000

Okay. Good to know. So what’s the current zEstimate?



Mr. P, I think you deserve to buy a new 5-series BMW using this hard earned equity that you can extract. You’ve lived in the house – hard work – and now it’s time to reap the rewards!


Click here to post a comment -- Posted by: burbed @ 5:46 am

February 3, 2007

[Ad] It's like the McMansion of online hosting… except you can afford it

Can’t afford a 1 bedroom condo home in San Jose?

Well, worry not – you can afford a great web home!

Let me introduce you to Dreamhost – the hosting provider that Burbed.com uses.
For just $119.40 a year (or $190.80 for 2 years – a 20% savings!) you get 200GB of disk space, 2TB of bandwidth, and one free domain name registration.

Yep… 200GB – not 200MB. It’s like having a McMansion in Oregon, for the price of a mobile home in Sunnyvale. And like the Winchester Mysterious Mansion, your space and bandwidth will automatically grow each week.
And, if you click this link and enter “burbed” as the promo code, you get $10 off. Click and check out the amazing features you get at these low prices. It’s better than a new built in Stockton!

Sign up today, and help Burbed.com out! This makes a great gift for someone for the holidays.

Or, if you don’t need hosting services, please consider making a small contribution to Burbed.com: Donate towards my web hosting bill!


Click here to post a comment -- Posted by: burbed @ 1:17 pm

February 2, 2007

$479k for .3 acres … where??

So yesterday on Burbed, we featured a 800 sqft house in Gilroy with a mismatched roof for $479,900.

Let’s see what that gets you in Austin, TX:

REALTOR.com: Find a Home – Listing Detail
0000 Whitley Bay Dr
Austin, TX 78717
MLS ID#: 7278491
5 Bed, 4 Bath
4,024 Sq. Ft.
0.3 Acres

Single Family Property, Subdivision: Avery Ranch North Sec 2 Pud Amended, County: Williamson, Approximately 0.3 acre(s), Year Built: 2003, City view, Golf course view, View, Two story, Central air conditioning, Community swimming pool(s), Fireplace(s), Dining room, Laundry room

Yeah that’s pretty nice – but where would you get garlic ice cream?

Have a good weekend!

Click here to post a comment -- Posted by: burbed @ 5:09 am

February 1, 2007

Guess Where: $480k for a 800 sqft house

Did you ever want to live in the “Garlic Capital of the World”?

Well, for a 1br condo in Mountain View, you can buy a same size house in Gilroy!

MLSlistings Property Detail for MLS number 672673
Gilroy, CA 95020


This Single Family Residence has the following features:
MLS#: 672673 Approx Age: 94 Years Approx Sq Ft: 800
Detached Single Family 1 Story Cottage/Bungalow
2 Bedrooms 1 Bathroom 1 Stall Shower

I love the roof! It’s very… post-modern! Like Mad Max!

Here’s another:


Sweet! It’s got trenches so I can reenact scenes from World War I! Fantastic!

Click here to post a comment -- Posted by: burbed @ 5:52 am

January 31, 2007

Pamela Drive: Prostitution and Condos

One of Burbed’s favorite streets is Pamela Drive. In the last post on this street, this was the status of the 3 condos that are being tracked:

Well, it turns out that some other activites have been happening on Pamela Drive:

Mountain View Voice: Crime Watch (January 26, 2007)
Prostitution, 200 block Pamela Dr., 1/12

Police went undercover to investigate a business claiming to provide massages. Officers conducted a search of the premises and arrested three people on charges of prostitution and providing massages without permits. The suspects are from San Jose, Saratoga and Daly City.

So here’s the question: Will this help or hurt the price of these condos?

Are these condos currently a fair $465 per square foot because of the benefit of living near such facilities? Or would they be $600 per square foot (typical for Silicon Valley) if they weren’t?

What do you think?

Click here to post a comment -- Posted by: burbed @ 5:35 am

January 30, 2007

1 year old town house

Burbed has seen a lot of very very strange Bay Area houses. But my readers often times do a better job.

Here’s an entry from M C:

1 year old town house
$890000 1 year old town house (sunnyvale)


M C had this to say:

1. Does he come with the house?

2. Has he given the house a complete inspection

(*cough*) ?

3. Is the house good enough for a doctor to live in?

4. He’s there to administer CPR when you keel over at this price for a cheaply built spec townhouse.

Maybe there is some sort of cultural thing I’m missing here.

I dunno. Personally this is pretty damn creepy. I’m closing my browser window right now!

Click here to post a comment -- Posted by: burbed @ 5:47 am

January 29, 2007

Spring Bounce is Here! People lining up for open house!

Burbed likes chocolate. While driving down Silicon Valley’s Champs Elysees, El Camino Real, Burbed stopped at See’s.

Burbed noticed a huge number of cars looking for parking down the street so that they could see this open house:

MLSlistings Property Detail for MLS number 703938
Sunnyvale, CA 94087


Homeowners’ Association Fee:$240
Open House Showing
Saturday, January 27, 2007 1:30 PM – 5:00 PM
Sunday, January 28, 2007 1:30 PM – 5:00 PM

This Townhouse has the following features:
MLS#: 703938 Approx Age: 21 Years Approx Sq Ft: 1321
Townhouse 2 Levels End Unit
3 Bedrooms 1 Master Bedroom Suite 2&1/2 Bathrooms

According to Zillow, this last sold 05/01/2003: $390,000. Since then, new carpeting, new paint, and new pergo flooring has been added.

But wait – does that add up to the $209,000 difference between the last purchase price and the current offering price? Of course not! That’s because the intangibles aren’t factored in yet…. For example:

  • The retirement home down the street has become more special.
  • The dumpster for Safeway that’s on this street has become more special.
  • The abandoned store next to See’s chocolate (which has been empty since Stroud’s went out of business) has become more special.

All kidding aside though, people were practically waiting for parking spots to go to this open house. There were families with kids, couples, some older people – milling about. Some were waiting to go in, some were just coming out.

It’s not clear if a deal was made… but may I be so bold as to predict that there will be 6 offers and that the final selling price will be in the $600’s? Possibly $660,500?

How did I get this fair market price? Easy: $500 per square foot.

If it’s not $500 per square foot, it’s not Silicon Valley.

Is this the famed spring bounce? Did prices hit a low? Will 2007 be the year when the $600 per square foot becomes the norm?

I guess we’ll just have to wait and see.

Click here to post a comment -- Posted by: burbed @ 5:40 am

January 27, 2007

Nice Try Long Island – 2% affordability means nothing!

On Long Island, More Are Priced Out of the Housing Market – New York Times
In 2000, 60 percent of the homes sold on Long Island could be classified as “affordable” for families earning up to $100,000 a year, under the old rule of thumb that buyers should spend no more than 2.5 times their income on places to live.

Last year, according to a new report, just 2 percent of the houses sold on Long Island were in that range for families with such earnings, which make up more than 60 percent of Long Island households.

Uh, nice try Long Island. You can try all you want to beat Cali in the affordability game, but let’s face it – you got lots to learn.

First, who uses the 2.5x benchmark anymore? That’s so 2000!
Get with it you old fashioned East Coasters! It’s 2007! Everything has changed! Income means nothing!

Here’s how you compute affordability:

The minimum household income first-time buyers needed to purchase a home at $478,710 in California in the third quarter of 2006 was $98,890, based on an adjustable interest rate of 6.58 percent and assuming a 10 percent down payment. First-time buyers typically purchase a home equal to 85 percent of the prevailing median price. The monthly payment including taxes and insurance was $3,300 for the third quarter of 2006.

See? You have to assume that first time buyers will get a house that’s 85% of the median price. Then you have to assume that they’ll only put down 10% (why trap your equity?) and then you have to assume that it rainbows and unicorns will appear.

That’s how you get that Santa Clara County has an affordability index of 27.

Long Island, I bet if you used the paradigm shifted formula, you’ll see that your affordability is 40… or even worse… 50. And as we all know, being affordable means being bad – because if you can afford it, it must not be good.

And here’s another shocker from the Times piece:

Even for families with incomes above $110,000, 43 percent report difficulty in paying housing bills.

Wow… you guys are so behind the curve. Don’t you know? When you fall behind, just refi or HELOC! And don’t forget, you can refi your car too! Unlock that trapped equity!

Long Island – it’s time to do it Cali style.

Click here to post a comment -- Posted by: burbed @ 10:39 am