August 20, 2013

PEACEFUL MBRM IN MTVW

We’ve got a really hot Mountain View property for you today from Burbed reader LomaLuvr. Feel the burn as you tour this one virtually.  Whoops, too late! SOLD!

130819-yorkton-redfin2676 YORKTON Dr
Mountain View, CA 94040
Sold for $1,565,000

4 Beds
3 Baths
1,975 Sq. Ft.
$792 / Sq. Ft.
Built: 1965
Lot Size: 8,000 Sq. Ft.
Sold On: Aug 16, 2013
Status: Sold
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Ranch
Community: Grant
MLS#: 81324377

WAVERLY PARK SINGLE STORY * NEW INT/EXT PAINT, NEW PLUSH CARPET/PAD * SPACIOUS KITCHEN, ISLAND, BREAKFAST BAR & NOOK, NEW LINO * FORMAL DINING RM, STEP DOWN LIVING RM, SEP FAMILY RM, CEILING FAN, FP W/ INSERT * PEACEFUL MBRM, SLIDER TO BACKYARD, CEDAR LINED CLOSETS * INS LAUNDRY, GAS & 220V HOOKUPS * NEWER WATER HEATER * OVERSIZED LOT, AGGREGATE PATIO, WELL MANICURED, SHED W/ NEWER ROOF * WALK TO COOPER PARK!TOP NOTCH SCHOOLS!

Great real estate photography means plenty of overbidding! This delightful home went for an extra $115K and we’re positive these radiant pictures helped. And you know when we say radiant we really mean radioactive.  Let’s have a look around.

130819-yorkton-greenery130819-yorkton-kitchen130819-yorkton-family130819-yorkton-bath

So far, so good! And doesn’t every bathroom need a prominently featured puffer fish on the vanity?  Pro Tip: When photographing a room in HDR, wait for the fan to stop spinning.

130819-yorkton-view

This bedroom converted to an office not only shows an intriguing attempt at décor, delightfully framed by the original window and view to match.

130819-yorkton-decor130819-yorkton-guest-towels

There’s so much you can do with fabric choices to liven up a room! Looks like whoever staged this bathroom embraced the concept of More is More.  Bunus: Empty toilet roll!

130819-yorkton-yard130819-yorkton-loom

Don’t forget the back yard! The generous grounds guarantee lots of space… for you to cook all summer, because there isn’t a shred of lawn anywhere. Plus the house next door has a great view of everything you’ll be up to.

We’re still trying to figure out which part of the yard is WELL MANICURED, the AGGREGATE PATIO or the SHED W/NEWER ROOF.  NEWER than what, the 1965 house?

Comments (6) -- Posted by: madhaus @ 7:01 am






August 5, 2013

Overbidding in Mountain View. Real Overbidding

We’ve discussed Real Bay Area cred many times here, and one way to tell you’re dealing with the RBA is that of course your property should attract plenty of overbidding.  Burbed reader steve writes in to let us know about a blog post that discussed what the sellers are thinking when getting those bids.

This couple traded up from Mountain View to Palo Alto, rebuilding their house as well.  But it’s this piece on the sale of their Mountain View house that we think Burbed readers would find intriguing.  What kind of bids go straight into the trash, never to be considered? Which bids made it to Round 2 of overbidding?  And do you consider the “winner” of this process to be the Stupidest Person Left Standing, or the Lucky Owner of a home in Mountain View’s finest zip code?

Sold! A behind the scenes look at the selling of our Mountain View home & tips for buying in a crazy market.

130804-overbids-house

Kudos to our real estate agent, Erika Enos! Our house sold fast and for more than we were expecting.

This week we officially handed over the keys to the Cuesta Park Charmer. We are very happy that we found a nice new family to love the home and the process went relatively smoothly. Compared to the angst of being on the bidding side of the table being a seller is this market is a joyride. Here’s how everything played out:

The Stats

List price:  $1,228,000
Sale price: $1,603,500 (~30% over asking), no contingencies, 25-day close
Open House visitors on Sat & Sun: ~150
Views of virtual tour: 8091 (32% of referring web pages came via HomeCrunch! vs. 26% via MLS)
Requests for disclosure package: 35
Offers: 10

You can read all the details over on Kay Luo’s site HomeCrunch, which is mostly about their adventures building their new house there. But what can the Burbed reader take away from this sellers-eye-view of the overbidding process?  Let’s take a look at the house itself.

130804-bond-redfin780 BOND Way
Mountain View, CA 94040
Sold for $1,603,500
Listed for $1,228,000

4 Beds
2.5 Baths
1,983 Sq. Ft.
$809 / Sq. Ft.
Built: 1952
Lot Size: 5,096 Sq. Ft.
Sold On: Jun 10, 2013
Status: Sold
Property Type: Detached Single Family
Stories: 1
Community: Miramonte
MLS#: 81315689
Style: Ranch, Contemporary
View: Neighborhood
County: Santa Clara

Perfect marriage of craftsman and contemporary renovation. Rare 4 bedroom, 2 1/12 bath home with family rm which has access to private patio & rear garden. Hardwd flrs, copious storage in state of the art kitchen, skylights in kit & family rm. Contemporary styled baths, spacious master suite, 4th bedrm perfect for office or nursery, newer roof, close to Cuesta Pk, dwntwn Mtn Vw & all Silicon Valley

130804-bond-livingThis couple did one thing right: they bought in the RBA. We know this house is in the RBA, not only from the 94040 zip code, but the fact that the home sold for more than double in only eight years. QED!  (That stands for Quite Excellent Deal!)  They did this despite not having a picture of the front of the house in the first picture, too.

Now, let’s examine what we can learn from the blog post itself.

First, the list of which offers were considered and which weren’t is useful.  If you’re still house hunting, maybe you’re making one of the mistakes called out there.  That means stop putting in contingencies in your bids during a seller’s market.  Instead, ask the seller what contingencies they would like to place onto the buyer.  How about 90 days’ free rent after the sale for starters?

130804-bond-bedroomNext, while suitcases full of cash may not be King, they’re still pretty Ace.

Third, if you write an entertaining blog, you can send plenty of people to look at your virtual tour.  That is, you can get more referrals from you own blog than the MLS.

Fourth, you know those stupid beg letters we’ve been laughing at? They work.  So if you want to buy someone’s house full of family memories and rip it to pieces, write a tear-jerking letter about how much you love the place and how it’s perfect for your 2.1 children and pooch.  After you buy it, fire up the bulldozer because it’s yours and tough luck if the sellers actually believed your fanfiction.

What do you think of Kay’s look at being an overbid recipient?

Comments (21) -- Posted by: madhaus @ 7:09 am

August 2, 2013

San Bruno Spectacular!

We’ve been spending far too much time in Santa Clara County. Let’s head North! No, not that far north, we’ll leave San Francisco and Marin and whatever non-Real Bay Area places near there for another day. There’s so much Burbed Win in San Mateo County you really don’t have to go far to find amazing properties like this one! Thanks very much to Burbed reader waiting_for_the_fall for today’s Bodacious Building in San Bruno!

130801-herman-redfin1013 HERMAN St
San Bruno, CA 94066
Listed for $589,500
Sold for $555,000

4 Beds
3 Baths
1,430 Sq. Ft.
$388 / Sq. Ft.
Built: 1938
Lot Size: 2,808 Sq. Ft.
Sold On: Jul 30, 2013
Status: Sold
Property Type: Detached Single Family
Stories: 1
County: San Mateo
Style: Traditional
Community: San Bruno Park
MLS#: 81313967

Remodeled with permits, 4 bedroom, 3 bath, new kit: Granite counters, honey maple cabs, s/s apps. Main Floor:sep din rm, liv rm with marble framed fpl, 2 beds includes master bed , marble tiled bths. Downstairs: 2 beds, fam rm, 3rd bath with travertine tile. New roof, new sewer line, new water supply line, new int and ext paint and doors, new electrical, copper plumbing, and more.

130801-herman-pylonsYes indeed, that is exactly what we had in mind when the Realtard told us this was a “Traditional” San Bruno house. Just wait until you see the “Contemporary” models!

Now, wftf (which is, we swear we are not making this up, wtf with an extra f for emphasis) will explain why today’s house was worthy of your attention.

I found another "gem" for you.  What makes this house so special is the wonderful views out the windows. Check out the 7th picture and the glorious views of freeway pylons out the window. The redfin tour insight would be helpful to someone blind and deaf:

130801-herman-kitchen"A great remodeled unit that is very close to the freeway. Very small corner lot."

Good thing they mentioned it was close to the freeway, I wouldn’t have noticed!

What we want to know is who designed this kitchen. Sorry, we mean who dsgnd this kit remodeled with permits. These are either the skinniest countertops and cabs in the Bay Area, or this is the deepest s/s app, or it’s pulled out from the wall because the seller is about to walk off with it now that the house has sold.

And if you live somewhere that you have to mention your kit was remodeled with permits, you’d better grab it quickly.

Comments (5) -- Posted by: madhaus @ 7:02 am

July 2, 2013

100% STUNNING LOOK NO FURTHER WOW

130701-hope-simplyYes, we did Mountain View yesterday. We’re doing Mountain View today. We may even do Mountain View tomorrow, because one does not simply run out of Burbed Win in Mountain View.  Thanks very much to Burbed reader mtv-renter for alerting us to this important fact. (And to the house.) 

Whoops, were you breathing? PENDING!  We mean Pending/Do Not Show, so hellooooooooooo Movoto!

130701-hope-movoto505 Hope St
Mountain View, CA 94041
$1,198,000

Loan Payment: $4,576/mo
Bedrooms: 4
Bathrooms: 3
Size: 1,909 sqft
$/sqft: $627/sqft
Type: Single Family House
Year Built: 1953
Lot Size: 5,000
Days on Movoto: 8 days
Neighborhood: Downtown
MLS#: 81319557
Status: Pending – Do Not Show

130701-hope-kitchen100% STUNNING HM 1 BLOCK FROM CASTRO ST! SUPERB LIVING GREAT FOR ANY LIFESTYLE! GORGEOUS REMODELED FAM KIT, UPDATED BATHS, HUGE LIV RM, WOOD FLOORS, DUAL PANE WINDOWS, SKYLIGHTS, CUSTOM LIGHT FIXTURES & DESIGNER PAINT, VERSATILE FLR PLAN FOR FAMILIES OR EXECUTIVES WHO LIKE TO ENTERTAIN, LANDSCAPED YDS, UPGRADES GALORE! IF YOU WANT SPACIOUS LIVING IN A GREAT DOWNTOWN LOCATION: LOOK NO FURTHER! WOW

130701-hope-bedroomHey, when the first listing photo isn’t the front of the house, you know this is going to be good. By which we mean bad. And that’s good.  Let’s check in with mtv-renter, who may be updating that handle.

I came across this cool place:

$1.2M apparently doesn’t buy good spelling, or a computer with a working CAPS LOCK key. It also looks like a flip.

It sure does, and you can see the before pictures right now on Redfin. (If you can’t, click the address.) Heck, the Pending/Do Not Show status not only pushed it back to the last listing ID, it even gave it a cool Bought With Redfin banner.

130701-hope-redfin505 HOPE St
Mountain View, CA 94041
Sold for $1,100,000

4 Beds
2.5 Baths
1,909 Sq. Ft.
$576 / Sq. Ft.
Built: 1953
Lot Size: 5,000 Sq. Ft.
Sold On: Nov 2, 2012
Property Type: Detached Single Family
View: Neighborhood
County: Santa Clara
Stories: 1
Community: Downtown
MLS#: 81234364

BEAUTIFUL HOME IN OLD MOUNTAIN VIEW NEIGHBORHOOD. PERFECTLY LOCATED NEAR CASTRO ST. HOME REBUILT IN 1996 WITH 4 BEDROOM & 2.5 BATHS. SPACIOUS LIVING ROOM. HARDWOOD FLOORING THROUGHOUT. DOUBLE PANED WINDOWS. COPPER PLUMBING.

130701-hope-notp

You know, these are hardly “before” pictures. They’re actually pretty good.

Our favorite view from the old listing is on the left. We chose it because there’s nothing like spending the big bucks on a stager and HDR photography and then giving the sense that you’re out of TP.

And that sure sounds like what happens to FAMILIES OR EXECUTIVES WHO LIKE TO ENTERTAIN.

Comments (12) -- Posted by: madhaus @ 5:03 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

April 30, 2013

We got Zip

130429-scrabble-ztileZoinks! Today’s the very last day of the Blogging from A to Z Challenge, and it’s also the last of the Triple Threat of Cityless Letters! There are no cities or towns in the Bay Area that start with Z. There aren’t even any neighborhoods in our two largest cities willing to cooperate. What to do, what to do?

BlogAtoZ-ZWe could discuss the complete fail that is the Zero lot line home. (How can you water your own lawn when there’s a house in the way?)  We could really Zone you out by digging deep into tl;dr territory with some Zoning violations! Or how about our favorite series on this site, ever? Yes, Zillions of Zip Codes!

Fortunately, we’re not going there. Instead, let’s drop by one of our favorite real estate sites.

120429-zileman-zillow5866 Zileman Ct
San Jose, CA 95123
Pending: $650,000

Est. Mortgage: $2,274/mo
Bedrooms:4 beds
Bathrooms:2 baths
Single Family:1,846 sq ft
Lot:6,534 sq ft
Year Built:1968
Last Sold:Dec 2012 for $565,000
View virtual tour

Construction Quality 6.0
Garage Size 439
Last Remodel Year 1969
Lot Depth 113
Lot Width 58
MLS #81309066
Parcel #69215003
130429-zileman-kitchen-closerRoof TypeAsphalt
Room Count 8
# Stories 1.0
Structure Type Contemporary
Unit Count 1
View Mountain
Zillow Home ID 19828550

Description

Modern beautiful sparkling remodeled home,spacious and bright, freshly painted inter and exter. approx 1846 Sf of living space,6554 sq.ft.lot , warm and cozy 4 largebedrooms and 2 new baths, dual pane windows,recessed lighting,central air,indoor laundry, living room with fireplace, finished 2 car garage,updated kitchen w breakfast nook. Nice curbappeal

130429-zileman-bed-glowZestimates

Value: $570,609
Range: $428K – $605K
30-day change: +$25,268
$/sqft: $309
Last updated: 04/28/2013

Rent Zestimate $2,591/mo
Range: $1.1K – $3.4K/mo
30-day change: -$8
$/sqft: $1.40
Last updated: 04/29/2013

Market Guide

Zillow predicts Santa Teresa home values will rise 5.8% next year, compared to a 5.9% rise for San Jose as a whole. Among Santa Teresa homes, this home is 21.1% more expensive than the mid-point(median) home, and is priced 9.3% more per square foot.

130429-zileman-tv130429-zileman-bedroom

130429-zileman-bathroomZounds! That stormy sky is no Zephyr! More like dialing the HDR up to 11 when Zero would have been more appropriate. Yeah, photographer was too Zealous. And when we Zip inside, best bring your Geiger counter, because there’s particle decay in them thar bedspreads. Watch out for Zeta rays (there’s no such thing, but it sounds all science-y and danger Zone if you get Zapped by them).

Most of all, Z is for Zestimate, Zillow’s best known feature. This home’s Zestimate is $570K, when it was listed for $650K and went pending in 3 days. What do you predict this house will end up selling for?  Don’t forget the curbappeal.

Comments (11) -- Posted by: madhaus @ 5:03 am

April 5, 2013

Extraordinary Extremity Edifice in East Palo Alto!

BlogAtoZ-EToday is day #5 of the A to Z blogging challenge:  Everything’s Easy. Eventually Excellent Estates would be Examined, as Everyone Expected we’d Essay on Entities Eastwards. Ever Espy how adding East to an Entity makes it Easier to Enjoy?  East Palo Alto is an Easier Expense than Palo Alto.  East San Jose is less Expensive as San Jose. And East Oakland? Empty. Ecch, Examine the Entire East Bay if you Endeavor to Evade being priced out forever!  Er, End Emit Equity Emerging Evermore.

130404-paloverde-redfin2318 PALO VERDE Ave
East Palo Alto, CA 94303
$369,000

2 Beds
1 Baths
860 Sq. Ft.
$429 / Sq. Ft.
Built: 1951
Lot Size: 4,800 Sq. Ft.
On Redfin: 3 days
Property Type: Detached Single Family
Stories: 1
Community: East of U.S. 101
MLS#: 81310172
Style: Contemporary
View: Neighborhood
County: San Mateo

BEAUTIFUL REMODELED HM W/ MANY WINDOWS, GARDEN VIEWS & ABUNDANCE OF NATURAL LIGHT. INCL NEW KIT, GRANITE COUNTERTOP, BACKSPLASH, TILE FLRS, NEW STOVE, LARGE LR & BEDROOMS. NEW LAMINATED FLR THROUGHOUT. REMODELED BATH. FRESHLY PAINTED INSIDE & OUT. PROFESSIONAL LANDSCAPING W/ AUTOMATIC IRRIGATION. PEACEFUL SETTING AFFORDS PRIVACY YET REMAINS MINS TO SHOPPING & FREEWAY ACCESS. MUST SEE TO APPRECIATE!

There is one term for this kind of a building and that is “snout house.” It’s all garage and the front Entrance is not Eyeable. But there’s so much more to today’s Entry!

130404-paloverde-gated130404-paloverde-front

Not only is there a Gated Entryway, in Excellent snout house tradition, we still can’t find the front door. Note the addition of a stunt portal.

130404-paloverde-kitchen130404-paloverde-yard

The remodeled Eatery is Eclectic, while the yard is Easy maintenance. Want to get an Estimate of Effort involved in the update? Examine this Earlier Eyesore!

130404-paloverde-streetview

Must see to appreciate. Eyeball, Extol, Expand!  The End.

Comments (7) -- Posted by: madhaus @ 5:07 am

March 7, 2013

The Rock: No unit above

That’s right, there is no unit above or better than this Mountain View maisonette.  Read on to find out why!  Warning: sale may have closed already.  Our thanks to Burbed reader LomaLuvr.

130306-rock-redfin1939 Rock St #17
Mountain View, CA 94043
$325,000

HOA Dues: $299/mo.
1 Beds
1 Baths
697 Sq. Ft.
$466 / Sq. Ft.
Built: 1963
Lot Size: 2,917 Sq. Ft.
On Redfin: 7 days
HOA Dues: $299/month
Style: Contemporary
View: Neighborhood
County: Santa Clara
Property Type: Townhouse
Stories: 1-3 (Low Rise)
Community: Rengstorff
MLS#: 81306070

Rebuilt in 2006 * Charming1 bedroom Condo * Closed to Google * Quiet 19 units community * No unit Above * Gorgeous Kitchen w/ Granite Countertop, Cherry Cabinet, SS Microwave & Refri. w/ Tile Fl. * Family Rm w/ Recess Lights & Crown Molding * Master Bedrm. w/ Ceiling Fans & Closet * Private Backyard * Cheerful Bathrm w/ Tiles, Vanity, Granite countertop, SS faucet * Indoor Laundry * One covered & One Guest Parking

Nothing like a rebuilt place that where you can take one look at the kitchen and say, yup, rebuilt in 2006.  Definitely 2006.  Added bunus: kitchen cabinetry matches the landscaping.  Only in the Bay Area do we have homes so Special that they’re staged with that degree of fit and finish.

130306-rock-kitchen130306-rock-yard

All this, and closed to Google too!

Comments (14) -- Posted by: madhaus @ 5:04 am

February 28, 2013

Who Ya Gonna Call in Los Gatos?

Properties featured on Burbed can be one of several things.  They can be the classic ridiculously high-priced crapbox, which is our bread, butter, and without so much rat in it.  There’s your basic eye-popping completely-overdone-for-the-neighborhood McMansion.  There’s your that’s-not-eclectic-that’s-just-WTF white elephant that doubles as a falling knife.

Today’s property seems to fit into that third category. Thanks very much to longtime Burbed reader sonarrat, back with more Bay Area Real Estate Win!  And speaking of Realty Win, today’s winner is also Movoto because Redfin is on the blink and wouldn’t load this listing up.  (Or maybe they blocked us because they’re sick of our whining about those trackbacks.)

130227-blackberry-movoto15950 Blackberry Hill Rd
Los Gatos, CA 95030
$4,095,888

Loan Payment: $14,260/mo
Bedrooms: 5
Bathrooms: 4&1/2
Size: 5,700 sqft
$/Sqft: $718/sqft
Type: Single Family House
Year Built: 2010
Lot Size: 1
Days on Movoto: 44 days
MLS#: 81301292
Status: Active

CUSTOM GATED ESTATE. NEWER CONSTRUCTION. NEVER LIVED IN. MAIN HOUSE: 4,500 SF. 1,033 GUEST HSE. HIGH-END FINISHES. SMART HOUSE; DIGITAL EVERYTHING. VEGAS STYLE PEBBLE TEC POOL W/LED LIGHTS & H20FALLS! AMAZING UNOBSTRUCTED VIEWS: SF TO SJ FOOTHILLS. CHEF’S KITCHEN, VIKING APLS. HIGH CEILINGS. 3 CAR GARAGE. RESORT PROPERTY. *AMPLE* FLAT; MORE FLAT LAND THAN YOU THINK! 1.5 MILES TO DWNTWN. LG SCHOOLS

And here’s why sonarrat checks in with this property:

130227-blackberry-dhoLos Gatos – $4 million, Ghostbusters pool.  Built in 2010, never lived in. Is it any wonder?

Is the house also infested with ectoplasmic residue, or is all telekinetic activity confined to the pool?  Also for some reason Movoto doesn’t provide the lot size.  Per Zillow, it’s 87,120 sq ft, sufficient to snag an acreage tag.

BUNUS: Dude Hanging Out (DHO) in listing photo #20, admiring *AMPLE* FLAT; MORE FLAT LAND THAN YOU THINK!

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

February 24, 2013

NOW is the time to buy or sell a house!

The National Association of Realtors (NAR) isn’t known for deep thinking.  After all, this is the group that brought you David Lereah, America’s very own Baghdad Bob on the topic of forecasting home values.  But let’s take a closer look at the idea that NOW is always the time to buy. After all, if now is not the time to buy, then now is the time to sell.

Turns out NAR has that one covered.  They’ve got a list of the best places to buy and sell, NOW.  And guess where is the time to sell NOW.

That’s right.  Where it’s Special.

Asheville, NC Tops Best Places To Buy In 2013

Real Estate News   |  Feb 14, 2013   |  By: Lexie Puckett | Realtor.com

130222-nar-ashevilleThe new year started on a positive note in January, with inventories at record lows and list prices holding steady on a year-over-year basis. Whether this shows a continuation of the nascent housing recovery into 2013 will depend on a variety of factors, including the strength of the overall economy, the cost and availability of mortgage credit, consumer expectations regarding future housing prices, and the success of continuing efforts to stem the flow of new foreclosures.

If inventories remain low — and if list prices begin to rise during the next few months, as they did last year — conditions are ripe for additional house price appreciation in 2013. However, such gains are likely to be concentrated in markets already well into their recovery process, such as California, Phoenix, Seattle, Washington, D.C., and many sand states. Markets in the older industrialized parts of the Midwest and the East will likely continue to struggle without a significant turnaround in their local economies. However, if inventories in these areas remain high, it could effectively set the stage for further declines in housing values in these local markets.

2013 Best Places to Buy and Sell

With two months remaining before the home-buying season opens, sellers have a huge advantage. In tight markets, such as the top five “Best Places to Sell,” sellers benefit from better prices than they’ve seen in years. In our five “Best Places to Buy,” buyers will find plentiful inventory and prices that haven’t experienced the increases others have seen during the past year.

So wait, are they saying that there actually exist places where NOW is not the time to buy? Well… no, because they would never want to prevent suckers from giving them money interfere with the free market.  Also commissions.

Here are NAR’s Top 5 Best Markets to Sell a House NOW.  Except they didn’t say NOW, but you KNOW it’s THERE.

130222-nar-sacto1. Sacramento. No, really. Inventory dropped even more than here where it really is Special, leading to price increases of (get ready to scream) 40%.  You forgot to invest in Sacramento last year, didn’t you?

2. San Jose.  Prices are up 25% here and inventory isn’t exactly generous. But unlike Sacramento, San Jose wasn’t rebounding from a complete price collapse.

3. San Francisco. They’re just copying us, and not as well.

4. Phoenix. See Sacramento. Inventory is down 16%, but so what? They simply make more land. What they can’t manage to make more of here is water.

5. Washington, DC. “With a median price of $429,900, D.C. is one of the nation’s priciest markets…”  Right, NAR.  You want to see what you can get here, where it’s actually Special, for $430,000?  This.

130222-nar-sheriann1889 SHERI ANN Cir
San Jose, CA 95131
$429,950

HOA Dues: $202/mo.
2 Beds
2 Baths
1,157 Sq. Ft.
$372 / Sq. Ft.
Built: 1993
Lot Size: 435 Sq. Ft.
On Redfin: 1 day
Status: Active
HOA Dues: $202/month
Style: Contemporary
View: Neighborhood
County: Santa Clara
Property Type: Condominium Stories: 1-3 (Low Rise)
Community: Berryessa
MLS#: 81305233

Upcoming Open Houses

Saturday, Feb 23: 1:30-4:00 pm
Sunday, Feb 24: 1:30-4:00 pm

Dwnstrs condo has bright & open flr plan. Newer carpet, hrdwd flrs in entry & ktchn. Interior has been freshly painted. Spacious patio off of lving rm. Gas stove, dual sinks & recessed lights in Kitchen. Mster bdrm has it’s own patio, walk-in closet, recently updated bthrm, 2 sink vanity. Attchd 1 car garage w/ laundry. Community has large pool, spa, sports court, bbq/picnic area. Great location.

And by “Great location” they don’t really mean “great location.”  Yesterday’s house was “great location.”  This place is “You’re less likely to get shot than on Story Road.”

Now, lest you think all those California metros filling in the first 3 on that top 5 list are some big honking coincidence, here’s some data ripped straight out of NAR’s January Trends report.  The blog entry linked above is distilled from this longer report.

130222-nar-inventory

It goes on to confirm what we already knew: It’s Special Here. Then again, it’s even More Special in Sacramento.  Want to know where else it’s surprisingly Special?

130222-nar-dom

Anyone who doesn’t see Bubble written all over these tables simply is not paying attention.

Comments (7) -- Posted by: madhaus @ 5:03 am