March 27, 2007

Redwood City Income Duplex – Won’t last long. Really!

MLSlistings Property Detail for MLS number 701467
1324 ADDISON ST
Redwood City, CA 94061
$599,9001324addison.jpg
Excellent Opportunity to Own Income Units!
THIS CONTEMPORARY DUPLEX IS LOCATED ON THE WORLD RENOWN SAN FRANCISCO PENINSULA, JUST MINUTES FROM SHOPPING, ENTERTAINMENT AND BOTH THE SAN FRANCISCO AND SAN JOSE AIRPORTS. IT FEATURES A DETACHED GARAGE WITH A PARKING SPOT FOR EACH UNIT, ALONG WITH TWO PRIVATE FENCED YARDS. DON’T MISS THIS EXCELLENT OPPORTUNITY TO OWN INCOME PROPERTY. HURRY, THIS DUPLEX WON’T LAST LONG!This Multi Unit Residential Property has the following features:
MLS#: 701467 Approx Age: 57 Years Approx Sq Ft: 1176
2 Units 1 Story 1 Bedroom Unit(s)
2 Bedroom Unit(s) Wall to Wall Carpeting Gas Heat

Wow… houses in Redwood City was exactly what I heard people talking about in London when they were talking about the world renowned San Francisco Peninsula. Oh wait… they weren’t!

Because this listing has “WON’T LAS LONG”, I’m obligated to show some photos which proves their point:

1324addisonb.jpg

Yep, I’ll agree. Won’t last long.

Click here to post a comment -- Posted by: burbed @ 5:58 am






March 21, 2007

This is not a trailer. This is not a mobile home. Really!

MLSlistings Property Detail for MLS number 702810
1312 MADERA AV
Menlo Park, CA 94025
$549,000

1312madera.jpg

Open House Showing
Sunday, March 04, 2007 1:30 PM – 4:00 PM
Move-in cond. Well kept neighborhood. 50k price reduce to sell!

This Single Family Residence has the following features:
MLS#: 702810 Approx Age: 57 Years Approx Sq Ft: 1010
Detached Single Family 1 Story Ranch

Doesn’t it seem to me that you should be able to drive this house off the lot? Is the hitch missing or something? I like how the fact that the neighborhood is well-kept is called out. And if this is move-in condition, then why aren’t there pictures of the interior?

Inquiring minds want to know!

Click here to post a comment -- Posted by: burbed @ 5:43 am

March 15, 2007

How to lose $272 dollars a day on a San Jose Townhouse

MLSlistings Property Detail for MLS number 704775
1822 GLACIER BAY TE
San Jose, CA 95131
$565,000

1822glacier.jpg

This Townhouse has the following features:
MLS#: 704775 Approx Age: 10 Years Approx Sq Ft: 1407
Townhouse 2 Levels 3 Bedrooms
1 Master Bedroom Suite 2&1/2 Bathrooms 2 or More Stall Showers

So… it’s just another $565k 2 bedroom townhouse. A staple of Silicon Valley. Why do I post this?

Let’s just say Burbed Reader Anthony inspired me to:

Hi,

I love the work you have been putting on this site.  Great job.
Here’s a deal my fellow bubbleheads will enjoy:

1822 Glacier Bay Ter, San Jose, CA 95131 3 beds, 2.5 baths, 1,407 sq ft

MLS#: 704775
Original list price was $648,000, Current listing price is $565,000
Sale History
03/20/2006:     $625,000

The property is in fact quite alright and that’s how I found it for renting on Craigslist for $2,095.  Unfortunately, as I write this, the ad just expired on CL but it will mostly re-list.  I will let you know if I see it again.

So beside the $60K + commission loss, the PITI on this property is $3,680 based on a 10% down and 6.25% 30-yr mortgage, giving the FB a negative cashflow of roughly $1,600.  :)
In fact, the only way the FB could be cashflow even is to have put down $300K and the rest with an ARM or IO.  Great investment!!

My calculations show that this person will lose about $94k in less than one year -which is about $272 dollars a day – or about $8k a month.

Now,  as I noted in yesterday’s How to lose $282 dollars a day piece, the Bay Area is special and prices only go up. So what explains this phenomenon?

The answer is easy – Spring Bounce. See… this person got confused – it’s only March which is still kind of winterish. Just wait until Spring Bounce gets well underway in May – then, watch out! This will rocket $1 million dollars, after all the hot IPOs slated for this year go live!

Then watch as rent soars to $7000 a month, making you wish you had bought instead of being priced out and forced to live in a van down by the (Guadalupe) river!

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

March 9, 2007

Drive in bedroom with blue striping! $599k!

Burbed is celebrating Gilroy week! Welcome to the last day! What a fun filled week it has been!

First, a fact about Gilroy: The median income for a household in the city was $62,135, and the median income for a family was $65,330.

MLSlistings Property Detail for MLS number 672598
420 FAIRVIEW DR
Gilroy, CA 95020

$599,000

420fair.jpg

This Single Family Residence has the following features:
MLS#: 672598 Approx Age: 47 Years Approx Sq Ft: 1560
Detached Single Family 1 Story Contemporary
3 Bedrooms 2 Bathrooms 1 Stall Shower

As Americans, we love drive thrus. Just count how many 6 & 8 cylinder car and trucks are idling away in the long lines at In-n-Out on a hot summer day. Mmm… grease and exhaust. Oh yeah.

These days, Drive In theatres are making comebacks in some areas. So I figured that Burbed should be the first to show you a Drive In bedroom! Come home late because you drove from San Mateo to Gilroy? Forget the front door – just drive into your bedroom! Head lights busted or covered solid with bugs – no problem! The blue striping will help you find your way.

This is a perfect house in a perfect place for those who really like to drive. Drive in today!

Click here to post a comment -- Posted by: burbed @ 5:59 am

March 8, 2007

Dude – where's my house? And is this in Hawaii?

Burbed is celebrating Gilroy week! Welcome to Day 4!

First, a fact about Gilroy: Gilroy is well known for its garlic crop; the Gilroy Garlic Festival occurs annually, featuring various garlicky foods including garlic ice cream. Gilroy also produces mushrooms in considerable quantity.

MLSlistings Property Detail for MLS number 704689
225 LILLY AV
Gilroy, CA 95020
$589,000

225lilly.jpg

This Single Family Residence has the following features:
MLS#: 704689 Approx Age: 34 Years Approx Sq Ft: 1299
Attached Single Family 2 Stories Contemporary
4 Bedrooms 2 Bathrooms 1 Stall Shower

And first I was going to leave headline as “Dude – where’s my house?” After all – it’s kind of hidden. But then I saw this:

225lilly-a.jpg

WHOA! The washer and dryer are outside! The only time I had seen that before is in Hawaii!

Wow… you can live near the garlic fields, drive 45 miles each way to work, and be in a landlocked Hawaii. Sweet!

Maybe that should be the slogan: “Gilroy: It’s like a garlicky, landlocked Hawaii.” :)

Click here to post a comment -- Posted by: burbed @ 5:06 am

March 7, 2007

$650/sqft located 5 blocks from train tracks!

Burbed is celebrating Gilroy week! Welcome to Day 3!

First, a fact about Gilroy: Of the top 4 attractions of Gilroy at TripAdvisor, #2 is the Premium Outlet Mall.

MLSlistings Property Detail for MLS number 704644
7466 ROSANNA ST
Gilroy, CA 95020
$598,000

7466rosanna.jpg

This Single Family Residence has the following features:
MLS#: 704644 Approx Age: 43 Years Approx Sq Ft: 920
Detached Single Family 1 Story Ranch
3 Bedrooms 1 Bathroom 1 Stall Shower

So you commute over 2 hours a day to and from your job in Silicon Valley. But what’s your pay off? Why… you could buy a cheap house like this one: Just $650 per square foot! Take that Palo Alto.

And actually this is within walking distance to the train tracks! (Distance to the train station – um… well… that’s a little further.) Personally I have trouble waking up in the mornings – I bet this house would solve that problem.

“GREAT STARTER HOME – FREE WAKE UP CALLS”

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

February 21, 2007

BONUS FENCE! $539 for a 76 year old 776 sqft house

MLSlistings Property Detail for MLS number 671247
491 MADERA AV
San Jose, CA 95112
$539,999

491madera.jpg

This Single Family Residence has the following features:
MLS#: 671247 Approx Age: 76 Years Approx Sq Ft: 776
Detached Single Family 1 Story 2 Bedrooms

I love how the fence in the drive way is extra tall. I’m surprise that’s not advertised as a “BONUS FENCE”. And how come this doesn’t say that it’s a perfect starter home?

Click here to post a comment -- Posted by: burbed @ 5:21 am

February 9, 2007

$1000 per sqft… guess where!

MLSlistings Property Detail for MLS number 621261
124 ROBERTS CT
San Jose, CA 95110
$559,000

124robert.jpg

This Single Family Residence has the following features:
MLS#: 621261 Approx Age: Unavailable Approx Sq Ft: 528
Detached Single Family 1 Story 2 Bedrooms

Did you guess San Jose? No???

Click here to post a comment -- Posted by: burbed @ 9:25 pm

February 6, 2007

"Why buy a condo or pay rent when you can own this charming home?"

San Francisco Bay Area Houses & Homes – 658 11TH AV, Menlo Park County Area/Fair Oaks Ave 94025
8 11TH AV, Menlo Park 94025
65811th.jpg

Bedroom: 3 Bathroom: 1 Square Footage: 920 $585,000
Status:
Active
Year Built: 1954 List Date: 1/18/2007 Lot Size: 2675
Parking Spaces: 1 MLS#: 702612
Email this to a friend Ask a Question Neighborhood Data Comparable Data
DESCRIPTION -
658 11TH AV, Menlo Park
The Perfect Starter! Great neighborhood close to shopping and commuting. Updated kitchen, 3 large bedrooms and 1 updated bathroom. Double-paned windows, hardwood floors, just call the movers!

Why buy a condo or pay rent when you can own this charming home? Located in a great Menlo Park neighborhood, this home is convenient for shopping as well as commuting. The bright living room and dining room greet you as you enter this cheerful home. The updated kitchen leads to the garage with laundry area. You’ll find 3 spacious bedrooms and one updated bathroom. The large master bedroom has a sliding glass door that leads to the backyard and patio. This home has updated double pane windows, gleaming hardwood floors, and force air heating. Call the movers, you found your new home!
FEATURES – 658 11TH AV, Menlo Park
Property Type Detached Single Family
Lot Description Lot: 1 to 4,500 Sq Ft

Why pay rent indeed? Let’s see… according to a web calculator, this would require (with a 10% deposit):

  • Fixed 30: $3,232.52
  • ARM: $2,818
  • ARM IO: $2,187.50

We’ll conveniently ignore tax and maintenance – those things take care of themselves.

Oh but wait – you can rent a 3br/1ba duplex for just $2150.

Deal, or no deal?

Click here to post a comment -- Posted by: burbed @ 5:13 am

February 5, 2007

God forbid something slips into that crack…

MLSlistings Property Detail for MLS number 702958
319 DELMAS AV
San Jose, CA 95126
$524,950

319delmas.jpg

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