May 26, 2014

No wonder California is called “The Golden State”

I hope you’re enjoy this Memorial Day!

As a community of people obsessed homes, we should also remember those houses that are still underwater.

Obviously, there are none in the Real Bay Area though…

Rent or Buy? The Math Is Changing

Billy Gasparino and Jenna Dillon-Gasparino were savvy enough to wait out the housing boom of a decade ago as renters. Not until 2010, well into the bust, did they buy a house in the Venice neighborhood of Los Angeles, less than a mile from the beach, for $810,000.

Only four years later, the couple see new signs of excess in the housing market and have decided to go back to renting. They are close to a deal to sell their house – for $1.35 million, a cool 67 percent gain.

Is it any wonder that California is called? Every house you touch turns to gold. And we all know that gold always goes up in value!

Since the start of 2011, prices have risen 33 percent in the San Francisco area, 30 percent in Miami, 24 percent in Los Angeles — and even more in some of the most desirable neighborhoods within those areas.

In the San Francisco Bay Area, home of the sharpest recent price increases, the sale price of a home is about 20 times what it would cost to rent a home of the same size for a year. That ratio, based on an analysis of data from Zillow, is the same as in 2003, when the San Francisco real estate market had yet to become an out-of-control bubble but was well on its way there.

That’s right! Based on data… DATA…there’s still plenty of upside for the homes in Silicon Valley.

But wait.. there’s more!

When low mortgage rates are taken into account, buying a home in San Francisco looks somewhat more attractive — but with a 10 percent down payment and prevailing interest rates, buying a home is 6 percent more expensive than renting a place of the same size, the same premium for buying as there was during the dot-com boom in 1999. Just two years ago, buying in the San Francisco area was 24 percent cheaper than renting an equivalent place.

There you have it! The NY Times says now is a great time to buy a home in San Francisco.

“If you thought home values in the Bay Area or Southern California were such that we might see another housing correction, that radically starts to advantage rental housing,” said Stan Humphries, Zillow’s chief economist, who argues that current prices are reasonably well justified, while acknowledging that prices are high enough to leave buyers exposed.

Even the Chief Economist at Zillow agrees!

This time it’s different. The economics have changed. The paradigm has shifted. House prices simply cannot go down.

I’m surprised you haven’t gone and picked up 6 houses over the weekend!

Comments (8) -- Posted by: burbed @ 5:00 am






May 19, 2014

Redwood City house with secret treasure?

358 POPLAR Ave
Redwood City, CA 94061
$699,000 Price 
2 Beds 
1 Baths  1,110 Sq. Ft.
$630 / Sq. Ft.
Built: 1946 Lot Size: 5,616 Sq. Ft. On Redfin: 26 days Status: Active

20140513a

Cozy and efficient home. Need some TLC and updating to make this home really shine again. Large lot with potential for home expansion/addition. Excellent open floor plan with hard wood flooring and wood burning fire place. Convenient location. Close to shopping and restaurants. Easy access to highways.

Easy access to highways indeed!

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But let’s look at some of the latter photos:

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Huh. Notice the barred windows, the carefully concealed crawl space.

But wait… there’s more!

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Do you spy what I spy? Let’s go in for a closer look!

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Whoa. What is this! Is there buried treasure underneath? Is that what makes this home so special? What could possibly be under there? Pre-ipo shares of GOOG? AAPL?

I think you had better buy this house soon before Nicholas Cage does!

Comments (7) -- Posted by: burbed @ 5:12 am

May 12, 2014

This house has a supra lock box

1355 TORRANCE Ave
Sunnyvale, CA 94089
$750,000 Price 
3 Beds 
2 Baths 
1,000 Sq. Ft.
$750 / Sq. Ft.
Built: 1956 Lot Size: 5,500 Sq. Ft. On Redfin: 24 days Status: Active

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Supra lock box on Tuesday 4/22/14

People always ask me: How do you know if a house is good?

Well, there’s a few ways. First, knock on the house – is there a dull hollow sound? Oh wait, that’s something else…

Frankly, I look at two things:

1. What type of car is in the driveway?

2. What kind of lock box is used?

This listing, shockingly, answers both.

There appears to be a sweet, sweet, sweet, corvette in the driveway. And it’s held back by a metal gate. This is definitely a sign of greatness. Just sitting in the car, behind the gate, you can pretend you are Joe Biden. Just like this!

Another sign? The lock box. What kind of lock box does the house use? This uses a supra! A supra!

If the realtor didn’t care, then they probably would’ve used another brand of lock box – but the fact that only the best was used means that this is a good house. A great house. I mean, just look at all the photos of… this… uh… house.

Comments (10) -- Posted by: burbed @ 5:00 am

May 5, 2014

Fixer upper of the year in Sunnyvale.

764 KILKENNY Ct
Sunnyvale, CA 94087
$699,950
Price 
3
Beds 
1.5
Baths  1,152 Sq. Ft.
$608 / Sq. Ft.
Built: 1958 Lot Size: 5,488 Sq. Ft. On Redfin: 2 days Status: Active
Active

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Fixer Upper of the Year located in a Million dollar Neighborhood only minutes to Cupertino Village Shopping Center, Vallco Shopping Mall, Ortega and Raynor Parks, new Apple Headquarters and Top Cupertino Schools:Collins Elementary/Cupertiono Middle/Fremont High School. This home is truly a Diamond in the Rough!

Thanks to Burbed reader M.L. for this find. This is what M.L. had to say:

“Diamond in the rough” – I don’t know why they didn’t just say “bring yer bulldozer.”

Surely you must be kidding. What could possibly be so bad about this home?

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Oh.

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Um.

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Is that a pencil sharpener?

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What?

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But hey it’s got hard wood floors!

Yeah this house has some rough edges, but that’s why it’s a diamond in the rough. A little elbow grease here and there, and definitely some bleach will have this house in brand spanking condition in no time at all!

Isn’t this a great opportunity?

Comments (9) -- Posted by: burbed @ 5:06 am

April 28, 2014

IDEAL FOR CREATIVE VISIONARIES

10711 GASCOIGNE Dr
Cupertino, CA 95014
$990,000 Price 
3 Beds 
2 Baths  1,249 Sq. Ft.
$793 / Sq. Ft.
Built: 1955 Lot Size: 5,775 Sq. Ft.

20140042110711

IDEAL FOR CREATIVE VISIONARIES! CHARMING, QUIET NEIGBORHOOD IN CUPTERINO SCHOOL DISTRICT. THE HOME IS BEING SOLD “AS IS”. DON’T MISS OUT ON ALL THIS HOME COULD BE. CLOSE TO SHOPPING AND FREEWAYS

Silicon Valley is full of visionaries. Full of them. Every time you turn the corner, walk into a Philz, you’re bound to bump into at least 328 visionaries.

This realtor also clearly has vision. Let’s take a look:

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You have to admit – that arm in with green sleeve in shot is pretty ground breaking. Think Different!

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I love the staging in this shot. Ironing board. Mattress. Window with no coverings. I think the only reason this isn’t in the SF MoMa right now is because it’s closed for construction!

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And finally, who can deny the vision of this shot: “Giant Red Bed with Camera Strap”

But enough of this realtor’s visionary artistic skills. It’s your turn.

How will you sculpt these pieces of clay into an elegant tapestry? [Bonus points for the first person to get the reference.]

Comments (11) -- Posted by: burbed @ 5:00 am

April 21, 2014

A must see house in Milpitas

389 SPENCE Ave
Milpitas, CA 95035
$789,000 Price 
5 Beds 
3 Baths  1,949 Sq. Ft.
$405 / Sq. Ft.
Built: 1955 Lot Size: 6,000 Sq. Ft.

20140420389
Spacious Home in Milpitas Area. Friendly neighborhood and near major shopping easy access to 880 hwy & 237. Closed to school and all High Tech company. Must see

Millions of houses have graced the pages of burbed, and every once in a while a real head scratcher pops up. Like this one.

Did this house start off as being 1 story, and then sprout a second floor on only half of the house?

Are those brick columns really holding up that second floor?

What’s going on with that driveway? Aren’t there too many curb cuts going on?

And what’s with that boat? I’m pretty sure that belongs to the neighbor.

Must see indeed! Are you going to leave work early to see this?

Comments (5) -- Posted by: burbed @ 5:00 am

April 14, 2014

Best staged house of the year goes to…

18930 BARNHART Ave
Cupertino, CA 95014
$848,888 Price 
3 Beds 
1 Baths 
1,080 Sq. Ft.
$786 / Sq. Ft.
Built: 1953 Lot Size: 5,355 Sq. Ft. On Redfin: 2 days Status: Active

2014041318930

Excellent Cupertino location! Brand new engineered wood flooring in the open living room/dining room, fresh interior paint, deep lot with extra front parking, private yard. Perfect opportunity for a remodel or live in and plan to build your dream home in this award-winning Cupertino school district!

The Mustang(?) in the driveway was a teaser that this house was going to be interesting. After all, how often do you see American-brand sedans parked in driveways? Especially classics like this one?

So let’s take a look inside this house. I think this house is definitely in contention for staging of the year – if not outright winning it.

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You really got to hand it to the agent. The two camping chairs definitely add to the rustic feel of this house. Especially with this brand new engineered wood floor, every day will feel like you’re out in the frontier, like Lewis and Clark.

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Continuing with the survival aspects of this house, be sure to observe the giant jar of whey in the shelves (that don’t seem to have doors.) This house says: “I’m a man, hear me roar.” Live like a 49er! (the 1849ers)

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Finally, the grand scene itself. Now, some might argue that this is a set up for a horror shoot, a campy college movie shoot, or maybe even a porn shoot – but I argue that this is a testament to how being the owner of this house will be an adventure of a lifetime.

What prevents you from scooping up this amazing deal today?

Comments (52) -- Posted by: burbed @ 5:08 am

April 7, 2014

What will you use the special place under this Millbrae house for?

522 CAPUCHINO Dr Millbrae, CA 94030
$838,888 Price
2 Beds
1 Baths
1,020 Sq. Ft.
$822 / Sq. Ft.

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A lovely ranch home located on a quiet street with refinished hardwood floors. Great floor plan, fully fenced back yard with flagstone patio and a spacious bonus area under the house for storage, laundry, or?? Painted inside and out.

Storage, laundry, or???

Unfortunately, there are no photos of this space – or maybe that’s fortunate!

The imagination runs wild!

You could set up a cool, exclusive, space just for founders! You could build a tech incubator! You could run a server farm to power your own cloud! You could build a man cave! You could… you could… you could…

Don’t let this could turn into a should’ve! Especially given its lucky price.

What will you be doing with this bonus area?

Comments (37) -- Posted by: burbed @ 5:54 am

March 31, 2014

Have you ever wanted your own Abbottabad mansion?

819 STAMBAUGH St Redwood City, CA 94063
$699,000 Price
2 Beds
1 Baths
890 Sq. Ft.
$785 / Sq. Ft.
Built: 1948 Lot Size: 5,000 Sq. Ft.

20140319819

THIS COZY WELL MAINTAINED HOME, 2Bed & 2bat, has the potential to be turned into your dream home. 2nd bath, permit unknown, Buyer research by his own responsibility. Bathroom is nicely tiled with bathtub glass enclosure, updated kitchen w/ newer cabinets, hardwood floors throughout, dual pane windows, newer doors, good sized yard. Close to transportations with Easy access to Freeways I-101, I-280.

Let’s face it, in these topys turvey times, we could all use a little extra security. Like maybe the level of security of a mansion in Abbottabad.

Now, if you’re that kind of person, this house is for you. Just look at that fence. Motorize that puppy, and no one is going to be able to sneak into your house and rob you.

And look at that front yard – that’s right there is none! It’s ready for you to install some motorized plating so that you can disable attacking vehicles. They’re pretty effective! (Just be sure to lower them when your own vehicles are coming through.)

Nothing can stop anyone from invading this house – that’s a fact. And that’s why this is such an amazing buy.

Comments (5) -- Posted by: burbed @ 5:00 am

March 24, 2014

No peeking! or is it no peaking? Cupertino house no show till broker tour

19707 MERRITT Dr Cupertino, CA 95014
$1,150,000 Price
3 Beds
2 Baths
1,408 Sq. Ft.
$817 / Sq. Ft.
Built: 1960 Lot Size: 7,488 Sq. Ft.

20140319

NO SHOW Till broker tour. Great opportunity in Cupertino with great schools. First time on market in 53 years! Family room has been extended w/ o permits. Not incl in sq footage. Dual pane windows, hardwood floors, pool, newer appliances – microwave, cooktop, refrigerator. Solar heating for hot water installed but inoperative. Collins elementary, Lawson middle, Cupertino High. Buyers to verify.

That’s right folks. If you want to see this house, you’re going to need to wait until the broker tour?

What’s a broker tour?

Well, that’s… uh… when the brokers take a tour.

How does that help you as a buyer or a seller?

Well, you see, every time a broker takes a tour through a house, the value goes up a little more. It’s like rubbing a rabbit’s foot. Or finding a four leaf clover.

So no peeking!

But let’s be frank, there’s definitely no peaking for house prices. Just look at this kitchen:

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Old stuff is hipster gold right?

I’m betting this house will clear for $1.5M. What’s your estimate?

Comments (17) -- Posted by: burbed @ 5:00 am