July 9, 2013

Updated: Bay Area Real Estate Bubble 4.0: Not Over. Nuh Uh Uh.

130708-28th-priceisrightThis weekend we featured a Murky News article claiming that frenzied overbidding on Real Bay Area homes was done. It wasn’t the only such piece claiming that RBA overbids out of suitcases full of cash were coming to a halt.  To which we say: Sure it is. Redfin is tracking the bidding wars, and they say it’s cooling off… outside the RBA.  Specifically, there are fewer multiple bid situations outside California, and in the Golden State, things have eased up a bit in the Southland.  But don’t worry.  It’s Still Special Here.

Let’s find out just how special with this home sent in by Burbed reader mtv-renter.

130708-28th-redfin440 28th St
San Francisco, CA 94131
Sold for $1,756,000

2 Beds
2 Baths
1,057 Sq. Ft.
$1,661 / Sq. Ft.
Built: 1910
Lot Size: —
Sold On: Jul 2, 2013
Status: Sold
Property Type: Attached, Full, Single-Family Home
View: Panoramic, Bay, Hills
County: San Francisco
Style: Victorian
Community: Noe Valley
MLS#: 408763

Much sought after charming single family home with spectacular southern views. Very bright and light. Main level features lovely dining area, spacious living room, office area, stunning remodeled granite kitchen and marble bathroom. Opening to a secluded charming backyard, perfect for entertaining. Second level features two bedrooms with original built-in dresser drawers. Fabulous, new bath with marble walk-in shower. One of the bedrooms overlooks the enchanting garden and the other captures the southern view. There is a lower level just waiting to be finished with great expansion potential!

130708-28th-bedroomTake it away, mtv-renter!

Oh holy hell, the good times are back!

I visited this place myself, but given the line out the door for the open house, didn’t even consider placing a bid. Good thing!

Asking price: $989k, sold for $1,756,000, that rounds up to 78%. This is an astounding $1,661/sqft.

It gets better,

last sold for $749,000 on Sept 24, 2010. That’s $1,007,000 in appreciation over 1012 days, or $995/day.

130708-28th-yellowEveryone should buy in San Francisco. Riches await!

But wait, there’s more!

It gets better, check out the buyer’s agent’s name:

Trim Wellbeloved, 
Pacific Union International
DRE #01209860

You know, we prefer to point ‘n laff at realtard behavior rather than their names, but in this case… well, there it is.  Meanwhile Burbed reader Petsmart Groomer notes that this house has come to the attention of SF Curbed.  Where, asks PG, is the million dollar upgrade?  After all, in 2010 it took 3 price cuts to finally change hands at… $749K despite appearing on television!

130708-28th-redfin2010440 28th St
San Francisco, CA 94131
Sold for $748,000

2 Beds
1 Baths
— Sq. Ft.
Built: 1910
Lot Size: —
Sold On: Sep 27, 2010
Status: Sold
Property Type: Attached, Full, Single-Family Home
View: Panoramic, Hills
County: San Francisco
Style: Victorian
Community: Noe Valley
MLS#: 370108

Big reduction. Please come see this Victorian Noe Valley Home as featured on the TV Show Sell This House. It has amzing Southern Hills Views. Two bedrooms and One Bath. Period detailing throughout the house. Near shops and restaurants.

Why that million dollars is clearly in the kitchen. The stainless steel fridge must be worth $400,000 all by itself.

130708-28th-kitchen-2010130708-28th-kitchen

130708-28th-redfin-restatedBunus: extra bathroom! That’s got to be the other $600,000!

Update 7/10/13: Seems the realtard made a little mistake with that sale price. It’s actually only $1,150,000. However, realtards typing in completely WTF numbers into listings is simply a different kind of Burbed win. So it’s all good, as long as you aren’t the realtard.

See the comments for more details. You should be reading comments on all our articles, anyway. You should be posting in comments, too. Don’t agree? Explain why! In our comments!

Comments (26) -- Posted by: madhaus @ 7:03 am






May 30, 2013

This house is OZZING WITH OLD WORLD CHARM! WOW

Wow, we must have been more upset about that ZipRealty schools report than we thought! Three houses in a row in the East Bay! Don’t worry, everything is back to normal now with this winner of a wigwam in Mountain View, on the best street in the whole city.  It isn’t in the newly named* neighborhood of CloGo (Close to Google), but you can’t have everything.  Thanks very much to Burbed reader dollarbin for smacking us upside the head. Um, we mean thanks for sending in a place that can pretend it’s in the Real Bay Area on a good day.

*Heck with that, we named it. And we’re durned proud we did.


130529-paloalto-redfin272 PALO ALTO Ave
Mountain View, CA 94041
$978,000

3 Beds
2 Baths
1,399 Sq. Ft.
$699 / Sq. Ft.
Built: 1910
Lot Size: 7,000 Sq. Ft.
On Redfin: 1 day
Property Type: Detached Single Family
Stories: 1
Community: Downtown
MLS#: 81318417
Style: Traditional
View: Neighborhood
County: Santa Clara

OZZING WITH OLD WORLD CHARM! AN OPPORTUNITY BUY A HALF-WAY REMODELED HM ON A STREET LINED BY SOME OF DONWTOWNS MOST CHARMING PROPERTIES! LG LOT W/ REAR ALLEY ACCESS, GORGEOUS BATHS WITH HIGH-END MATERIALS, HANDCRAFTED FRONT DOOR AND INTERIOR TRIM WORK, BIG KIT WAITING YOUR SPECIAL TOUCHES, HIGH CEILINGS, PARTIAL BASEMENT, MOVE RIGHT IN OR EXPAND TO THE SIDE AND/OR TO THE REAR! POTENTIAL GALORE! WOW

130529-paloalto-bigkitNo wonder this place hasn’t cracked a million dollars, it’s a HALF-WAY REMODELED HM. We think they misspelled HMMM?

Also wondering what kind of BIG KIT awaits YOUR SPECIAL TOUCHES. Most KITS like to be scratched under the chin.  Maybe this one is waiting for the floor to choose just one color.

Here’s the streetview, for another look.

130529-paloalto-streetview

WOW

Comments (9) -- Posted by: madhaus @ 5:05 am

May 8, 2013

No Bubble Here Either: Part Deux–Mountain View!

Yesterday we had a look at a Redwood City house with a curious price history.  Today’s featured fortress has fewer data points, but don’t worry, it makes up for it in overbids! Thanks very much to Burbed reader LomaLuvr for launching this one.  And we’ve got fresh data to share!

130507-view-redfin548 VIEW St
Mountain View, CA 94041
Sold for $1,061,000

2 Beds
1 Baths
994 Sq. Ft.
$1,067 / Sq. Ft.
Built: 1924
Lot Size: 6,300 Sq. Ft.
Sold On: May 7, 2013
Property Type: Detached Single Family
Stories: 1
Community: Downtown
MLS#: 81308770

Great Location! 1924 cottage on approximately 6300sft lot two blocks from Castro Street! Mostly original cottage sits on this large lot, ideal for renovation or maybe rebuild. Excellent location two short blocks to Castro Street. Theatre, coffee shops, restaurants and train station all within blocks!

130507-view-living130507-view-trashbinsActually, LomaLuvr sent this in long ago, before we started in with the A to Z thing all April. But it’s good news for you that we waited, because now we have the winning overbid, and it’s 18% over asking. Ha! You call that a bubble? Why back in our day, an agent could list a house full of crappy photos near the train tracks and the buyers would throw offers through the windows tied to gold bars!

Hey, wait.  You think the gold bars are back?

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

April 23, 2013

T is for Terribly Taken photos!

BlogAtoZ-TYeah, we’re still Taken with this Blogging from A To Z Challenge, and if you don’t like it, Too bad. Um, we mean ‘Twill be all over next week. So let’s find That Typical Burbed post, where we contrast Things that don’t go Together. 

Today we’re Twist Terrific Terroir with Tired, dare we say Tortured listing photos? Let’s Take a Trip to Tiburon!

130422-redhill-redfin24 Red Hill Cir
Tiburon, CA 94920
$950,000

HOA Dues: $423/mo.
2 Beds
2 Baths
1,574 Sq. Ft.
$604 / Sq. Ft.
Built: 1990
Lot Size: 701 Sq. Ft.
On Redfin: 38 days
HOA Dues: $423/month
Style: Contemporary
View: Bay, Forest/Woods, Greenbelt, Hills, Lights, Mountains, Panoramic, Water
County: Marin
Property Type: Residential, Attached, Condominium/Coop/Other
Stories: Split-Level
Community: Tiburon
MLS#: 21305218

Highly desired Red Hill Circle. One way, private street. All prior sales minimum $1,000,000+ without upgrades or any remodeling done. Views are spectacular of Richardson Bay to Sausalito with full silhouette of Mt. Tam. Lots of entertaining and happiness here.

130422-redhill-living130422-redhill-glareIf all The prior Transactions were in seven digits, Then what The heck is wrong with This place? It can’t be just The Terrible pix, because There’s proof That There’s little To Tamp Bay Area Bubble 4.0 This Time!  Remember, buy now or be priced out forever!

130422-redhill-balcony130422-redhill-mirrors

Bunus: can you find The DHO in photo #19 (the last one)? Without upgrades or any remodeling done!

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

January 25, 2013

What the Hecking Heall in Healdsburg

It’s time for the weekend, so let’s end the workweek with one more whomp of Housing Win.  Burbed reader Tom Paine has a serious case of Whisky Tango Foxtrot for you to Foxtrot off with.

130124-big-redfin2150 big ridge Rd
Healdsburg, CA 95448
$925,000

0 Beds
1 Baths
— Sq. Ft.
Built: —
Lot Size: 80 Acres
On Redfin: 472 days
Status: Active
Property Type: Residential, Detached, Single Family
Stories: 1
County: Sonoma
Style: Other
Community: Healdsburg
MLS#: 21126715

NET ZERO – OFF THE GRID This 80 acres of pristine land with the ultimate view across Dry Creek Valley. This stunning virgin land awaits for the building of your ideal home with several buildling sites. A unique 1200 sq ft living structure with a 680 sq ft bedroom / mezanne.

When he sent this in, Tom observed:

It has a Mezanne! wHiCH Is LikE, waaaAY COOL!

Too bad it doesn’t have a bedroom.  Are we supposed to sleep on one of the buildling sites instead?  The mezanne doesn’t look comfortable.

130124-big-curvy130124-big-living130124-big-breadbox130124-big-trees

You can’t fool us.  This house is actually a giant-ass aluminum toaster.  Too bad it’s off the grid.

Comments (6) -- Posted by: madhaus @ 5:05 am

January 16, 2013

Uncompromising Address, provided you’re willing to compromise

Some homes demand your attention because they’re in a perfect location, location, location.  Some are visually stunning.  Some feel right as soon as you walk in.  Some have stellar views.  Let’s see what’s preening itself all the way up in St. Helena, thanks to Burbed reader Tom Paine!

130115-allyn-redfin1269 Allyn Ave
St. Helena, CA 94574
$960,000

2 Beds 
1 Baths 
1,176 Sq. Ft.
$816 / Sq. Ft.
Built: 1900 
Lot Size: 7,405 Sq. Ft. 
On Redfin: 4 days
Status: Active
Property Type: Residential, Detached, Single Family
Stories: 1
County: Napa
Style: Farmhouse
Community: St. Helena
MLS#: 21300576

Uncompromising address, this historic circa 1900 Farmhouse is located on one of St. Helena’s most charming streets loved for its close location to downtown & picture-book residences. The distinctive brick exterior & interior walls w/ abundance of windiows creates a light & airy, visually exciting residence. Highceilings, hardwood floors, stone root/wine cellar, a modern country kitchen & the vintage barn adds to the history & unique period charm

130115-allyn-barnTom calls attention to these important facts about the house:

The windiows make this a special place.  Paid $440k in 1999.

But that’s why you’re going to have to compromise.  This house is not in the Real Bay Area, and that’s why it’s only a special place. 

Not a Special place.

At least it has highceilings.

Comments (6) -- Posted by: madhaus @ 5:04 am

January 3, 2013

Start work tomorrow in Los Gatos!

There are several types of housing awesomeness we cover.  There’s the high-priced crapshack, the WTF You’re Kidding, the completely overdone custom home, the adorable domicile with serious location fail such as an international airport.  Then there’s the tried and true House Flip.  We all love flips because they all use the same formula.

  1. Buy crappy house for cash
  2. ?????
  3. Profit!

Have a look at what Burbed reader nomadic found for us in the wilds of Los Gatos.

130102-benedict-redfin15588 BENEDICT Ln
Los Gatos, CA 95032
$950,000

3 Beds
2 Baths
1,456 Sq. Ft.
$652 / Sq. Ft.
Built: 1948
Lot Size: 9,625 Sq. Ft.
On Redfin: 34 days
Status: Active

Start work tomorrow! Rare opportunity and no waiting. Permit fees have been paid and plans are in hand for a complete remodel/addition of this cute 1500 SF. 3 Bedrooms, 2 Bath home with spacious kitchen/greatroom on a large (9625 SF), level lot with an existing garage. To help save even more time and money, the interior of the home has been stripped to the framing. Great location with L. G. schools

Have they left out Phase 2? Let’s hear from nomadic:

130102-benedict-frameA flipper bought this house in May, stripped the house down to the studs and put it up for sale in November.  He thinks those services (plus permits) are worth $175k.  Is the market really that crazy?  Maybe not, given that it’s still active after 30 days.

Ooh, the plot thickens: “Fixer Upper, Seller is Licensed Real Estate Agent”

The “Zestimate” is $945k.  Unfortunately, the prior listing isn’t available on Redfin so we can’t tell if the current seller did anything at all, other than buy at a favorable price – which actually probably wasn’t particularly good, given that this nearby house sold in July for $700k (larger but with Hwy 17 in the back yard) before being flipped – as a FINISHED house – for $999k.

To help save even more time and money, why not leave the flippers out of the entire transaction?  Which leaves a realtard out too!

Bunus: Check out the neighborhood. Great for teens!

130102-benedict-satellite

Comments (3) -- Posted by: madhaus @ 5:10 am

December 4, 2012

The Bubbly is BACK! a fine example

For those of you joining this blog, already in progress, we’ve been sharing Real Bay Area real estate win since 2006.  (Check out the archives at right!)  So Burbed has been around the block once already, back in the good ol’ days of high prices for not much house.  Then we watched sellers get greedy and wait too long for a better price, until they had to start chasing the market down, and down, and down…

This lucious little lodgement in Los Gatos illustrates that we’re on our way back to 2006 again!  Thanks very much to Burbed reader wahnny for sending it in!  (Of course it’s pending!)

121203-loma-redfin134 LOMA ALTA Ave
Los Gatos, CA 95030
$998,000

2 Beds 
1 Baths 
797 Sq. Ft.
$1,252 / Sq. Ft.
Built: 1930 
Lot Size: 7,000 Sq. Ft. 
On Redfin: 20 days
Status: Pending Without Release
Property Type: Detached Single Family
Stories: 1
Community: Los Gatos/Monte Sereno
MLS#: 81240778

a fine example of the original California Bungalow. Perfect for a small family starting out or ideal for retirement living walking distance to the village. Very deep lot with fruit trees and alley access, too.

121203-loma-livingAww, that’s so cute! It’s like a dollhouse, only smaller!  Here’s why wahnny wanted us to wander on over:

For almost $1 million, one can buy a 1930s-style 800sqft bungalow on 7000 sqft lot in Los Gatos!  It actually looks pretty clean inside and out, so it’s not exactly a “crapshack” (as per Burbed standards).  Perhaps “crampshack” describes it better (although in comparison to adjacent homes/lots, it could be argued otherwise).  Well, other than price, this might be quite a deal!

That’s like saying, “Well, other than being on a Superfund site, Gables End might be quite a deal too!”

Comments (8) -- Posted by: madhaus @ 5:04 am

November 2, 2012

Unbelievable

Here’s a find from Burbed reader hikelife.  Did you always want to live in a million dollar mansion?  If you have that million you could live in Sunnyvale instead!

121101-labella-redfin1354 LA BELLA Ave
Sunnyvale, CA 94087
$1,000,000

3 Beds 
1 Baths 
1,034 Sq. Ft.
$967 / Sq. Ft.
Built: 1950 
Lot Size: 9,576 Sq. Ft. 
On Redfin: 1 day
Status: Active
Property Type: Detached Single Family
View: Neighborhood
County: Santa Clara
Stories: 1
Community: Sunnyvale
MLS#: 81239620

Unbelievable

Does this house look familiar?  It should, because it showed up in comments yesterday.  We’ll let you use that worthwhile section to admire how hard this agent is working for that $60,000 commission.  A word and a photo, both!

We’ll leave you with a peek at the actual house (which would have raised the agent’s commission to $80,000).

121101-labella-streetview

Super bunus!  Ginormous trash bin!

Comments (18) -- Posted by: madhaus @ 5:03 am

November 1, 2012

Elegant Dark Engineered wood floors in Alameda

It’s a new month, Spring Bounce is just around the corner, and the Real Bay Area continues to be awesome sauce.  But what about those outside the Zone of Ever-Climbing Real Estate Values? Let’s check in with Burbed reader J from Alameda, who found something in the treat bag for us.

121031-court-movoto1315 Court St
Alameda, CA 94501
$970,000

Loan Payment:  $3,377/mo
Bedrooms:  4
Bathrooms:  4&1/2
Size:  3,193 sqft
$/Sqft:  $303/sqft
Type:  Single Family House
Year Built:  1905
Lot Size:  4,000
Days on Movoto:  14 days
MLS#:  40593343
Status:  Active

Beautiful Remodel. New Kitchen with Granite and SS appliance. Shining New Bathrooms remodeled w/ Marble. Elegant Dark Engineered wood floors. New Plush Carpet. New Paint Inside & Out. New Roof. All make this property shine. Open House Sat 1-4

121031-court-kitchenGood news! We’d hoped a house that’s 107 years old would have at least one appliance eligible for Social Security.  Better buy it quick before Congress decides to implement Dishwasher Death Panels.  We hope the paneling will match the engineered floors.

Here’s what J thought about this property:

Here is a question to ponder: investor buys house. Puts some money into it. Then ups the price – was it $400,000? No, more. Be that as it may, for that huge profit, do you think they could hire a real photographer? One with a clean lens (photo 9)? Who can take a bathroom photo without appearing in it (photo 10)? This is in a lovely neighborhood but I predict it will sit. Something about that 3,000+ sf house on a 4,000 sf lot does not bode well.

121031-court-lens121031-court-mirror

It looks like its raining in photo 9.

It’s raining instant equity!  Bunus: Buy this house for almost a million dollars and you get to choose whatever washer and dryer you want!  That’s right, hookups only.  Super Bunus: Zillow sez: “This home is done! Just move in your belongings!”  Laundry appliances are belongings, too.

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