March 4, 2013

Bay Area Bubble 4.0 is now officially entering insanity stage: $2.8M Teardown in (of course) Palo Alto

It may be just the tip of the Krazy Kool-Aid effect, but this is not how a reasonable housing market should work.  Thanks very much to Burbed reader Wendie (as well as additional fans) for bringing this textbook definition of Irrational Exuberance to our attention.

130302-tennyson-redfin559 TENNYSON Ave
Palo Alto, CA 94301

Listed for $2,088,000 on 1/25/2013
Price changed to $2,088,888 on 1/27/2013
Sold for $2,820,000 on 2/25/2013

2 Beds
1 Baths
1,353 Sq. Ft.
$2,084 / Sq. Ft.
Built: 1921
Lot Size: 7,500 Sq. Ft.
Sold On: Feb 25, 2013
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Cottage/Bungalow
Community: Old Palo Alto
MLS#: 81302338

Located in the heart of wonderful old Palo Alto with top rated schools on a large 7500/SF lot. Charming 2 bedroom 1 bath plus den. One oversized bedroom. Hardwood floors , utility basement, and detached Garage. Sold as is in its present condition. Offers to be reviewed after 2/8/2013.

130302-tennyson-bathWe’ll have plenty more evidence as we move into Spring Selling Season that the Real Bay Area is in a Real Bubbly Attitude.  Maybe this can be the First 35% Overbid of Spring.  Now let’s hear from Wendie.

This realtor did an amazing job with the photos of this house! How else could this 3/1 1300 square foot house have sold for 2.8 million dollars?? 800K over asking prices. 

I mean, did you ever think that taking photos of a 1920′s bathroom and a CORNER of a room could do such magic?

130302-tennyson-corner130302-tennyson-corner2x

You’re simply not giving the agent enough credit, Wendie.  I see at least TWO corners.  What, do you think these houses just sell themselves?

Comments (31) -- Posted by: madhaus @ 5:09 am






February 26, 2013

UPDATED: AOL tries being Burbed for a day: Let your imagination run wild

130225-aol-wg-front

Updated 11:30 AMSecond house found; see end for details and plenty of pix!

AOL has been doing a real estate area for a while, including a series of videos and articles beyond the listings and search tools. Someone over there must have been reading us, because they did a piece discovering that (gasp!) there are very expensive yet definitely crappy houses for sale in the Real Bay Area.  Worse, they had the gall to call this an “AOL original.”

Have they been living under a rock? This has been our signature claim for more than seven years! Let’s listen in as self-important talking heads who don’t bother introducing themselves tell us what we already know.  (Warning: dude with beard is extra smug.)

 

M’kay.  There’s some really useless accompanying text, so our mission is to do a slightly better job.  Remember, it’s fairly easy to succeed when you set your standards this low.

Decrepit Homes in San Francisco Bay Area Fetch Top Dollar for Mountain Views

130225-aol-rwcBy AOL Real Estate Editors | Posted Feb 21st 2013 5:14PM

A sorry-looking shack, with deep cracks in the cinder-block walls and busted windows, that looks like it’s ready to collapse: You wouldn’t pay a dime for that, would you? OK, say it’s nestled in the gorgeous hilltops of the San Francisco Peninsula with no shortage of pristine mountain views. Now how much would you pay? More than $1 million? Well, that’s how much it’s going for.

130225-aol-wgWe’ve probably violated Fair Use by quoting an entire graf, because there’s only one more.  There’s also only two homes in the video, and only the more than $1 million OMFG Emerald Hills (Redwood City) place (shown above in a clip from the video) has mountain views.  The other (at left, also clipped from the video) is in Willow Glen, and didn’t seem to have any views beyond the neighborhood street.

We were able to find the place in Emerald Lake in about 3 minutes, and it definitely could use a big ol’ Burbed sloppy kiss, Of course it’s already pending.  This is the Real Bay Area we’re talking about!

130225-lakeview-redfin209 LAKEVIEW Way
Redwood City, CA 94062
$1,275,000

3 Beds
2 Baths
1,490 Sq. Ft.
$856 / Sq. Ft.
Built: 1948
Lot Size: 0.38 Acres
On Redfin: 207 days
Property Type: Detached Single Family
View: Mountains
County: San Mateo
Stories: 1
Community: Cordilleras Heights
MLS#: 81228879

Incredible opportunity in Emerald Hills. Originally three lots under two APN#’s (APN #057-031-480 and APN #057-031-049) which have been combined into one lot at approximately 25,150 SF. The value is in the land and the views of the surrounding hills with easy access to 280. Walk the site and let your imagination run wild. Dream big and build new or renovate. Plans are available for viewing.

130225-aol-wg-kitchenWe didn’t have the same success in finding the Willow Glen weedery.  This one is similar to it (Craftsman style bungalow, over 12,000 square foot lot, to be sold as-is) but we don’t think it’s the right house.  Can any enterprising Burbed readers find the house in the video? 

Update: House in video found by Burbed reader Chris. See end of this article for details and photos. We’ll also throw in a break as this is starting to get long, so click on through!

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Comments (10) -- Posted by: madhaus @ 5:01 am

February 12, 2013

YOU can afford Woodside! Yes, YOU! (Outbuilding garage is currently not usable)

Ah, Woodside, home of the record-breaking property sale.  Also home of Larry Ellison (well, one of of homes, because he sold the other one).  Point is, Woodside is for CEOs and Venture Capitalists, not worker bees.  WRONG!  Today’s featured property, courtesy of Burbed reader holyzoo, shows that Entry Level in Woodside is welcoming you to Executive Acres!  Read on and find out why!

130211-ware-trulia125 Ware Rd
Woodside, CA 94062
$649,000

2 bed, 2 bath
1,180 sqft
Single-Family Home
14 Days on Trulia
411 views
Style: Detached, Cabin – Woodside, CA

125 Ware Rd Charming rustic cabin surrounded by redwoods, in State Scenic Skyline Corridor. Includes parcel # 067-042-020 at .35 acre, 15,682 sq ft. Total of both lots is .9065 acre 39,922 sq ft. They are level lots. Home needs repair and is being sold “as is”. It is ideal for a contractor or handyman. Den was third bedroom but now lacks a closet. Outbuilding garage is currently not usable.

 

130211-ware-kitchenNow lacks a closet? Therein lies a tale!  Here’s more from holyzoo:

Brother to another… etc. . you know the cliche… I have been tracking your website for a LONG time, saving untold sums avoiding therapist bills.

I’ll keep on keeping on, and probably begin to send you more crap than you want, but this busted me up today. We were looking at Mid-Peninsula Skyline properties today – one was a granny shack for $650k. As dated as 1930 can provide.. be prepared for major dryrot repair, complete remodel, or better yet, tear it down and rebuild.

W00t! Teardown! Value is in the land, which is why they’re making more of it. Two parcels, no waiting.  And yes, the granny shack was built in 1930, which means it qualifies for the old house tag!

130211-ware-satellite

And so convenient!

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

January 23, 2013

How about another pink house?

That’s right, who doesn’t love a pink house?  Especially a pink house in San Jose!  How about East San Jose, because that’s what Burbed reader Tracy Tea House has found for us.  And once more, you are TOO LATE.  Seriously, would you get off your butt and buy another house? Do you want to be PRICED OUT FOREVER in Bubble 4.0?

130122-pickford-redfin50 PICKFORD Ave
San Jose, CA 95127
Listed for $324,950
Sold for $391,000 on 11/28/2012

3 Beds
2 Baths
1,381 Sq. Ft.
$283 / Sq. Ft.
Built: 1930
Lot Size: 10,000 Sq. Ft.
Sold On: Nov 28, 2012
Status: Sold
Property Type: Detached Single Family
Stories: 1
County: Santa Clara
Style: Craftsman
Community: Alum Rock
MLS#: 81239001

BANK OWNED REO! Excellent opportunity to own a home with lots of upside potential. Property has two garages, both have had permits pulled but never finaled. Property needs lots of work and is to be sold in its present “AS IS” condition. Home is in fairly good condition inside but you will need to replace some doors and windows. Some kitchen appliances are missing.

130122-pickford-tracyOpportunity! Potential! Fairly good condition! Unfinaled permits! Bank Owned REO! (What other kinds of REO are there?) What are you waiting for, don’t walk, don’t run, rent a helicopter and FLY over there right now!  Let’s listen in on Tracy’s nomination speech:

130122-pickford-hallway

Pink and dismal. So much more than “some of the appliances are missing.” How about the sheet rock? Stinking Pink, tiny halls, open toilets, this bank owned house has it all.


Is this the “RBA?” I like the three pictures of the street in the wild west of East San José.

Wild West is right, they even show the broken windows.  We don’t know where Tracy got the above shot because it’s not on Redfin, and ZipRealty wanted us to sign in (As If, ZipR!)

Enjoy the pictures.  We included a bunch, because we never know when some real estate site will make us sign in.  The street, the open toilet, and many more right after the break.

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Comments (4) -- Posted by: madhaus @ 5:07 am

November 23, 2012

Day After Thanksgiving? Time for Black Friday Sales!

121122-blackfridayIf you haven’t already gotten up at 5 a.m. to start shopping for holiday bargains, you’ve still come to the right place!  Thanksgiving is over, so get on your steel-toed cyber boots, the better to kick your fellow shoppers out of your way!  Yes, it’s time for Burbed‘s Black Friday Sales, where we find the absolute rock-bottom in housing prices all around the Bay!  And we’re opening an hour early just for you!

Here’s how Black Friday Sales will work this year. We’ll again feature the cheapest properties in each county all around the Bay Area, plus some of our favorite cities.  But we won’t forget that our readers are sending in listings as well, so you just never know if each day will be a Sale Property or something else entirely.  You’ll just have to tune in every day to find out.

Let’s begin our sales in Silicon Valley, because even Googlers like to bargain-hunt.  Here we go, the absolutely cheapest house in all of Santa Clara County!  Ready?

121122-murray-redfin8282 Murray Ave #97
Gilroy, CA 95020
$18,000

1 Beds 
1 Baths 
542 Sq. Ft.
$33 / Sq. Ft.
Built: 1966 
Lot Size: — 
On Redfin: 38 days
Status: Active
Property Type: Mobile Home (Single Wide), Mobile Home (Expando)
County: Santa Clara
Community: Morgan Hill/Gilroy/San Martin
MLS#: 81237950

Pre-owned, 1966 Kit, 1 bedroom/ 1 bath Single-wide mobile home in a senior park (one owner must be at least 55 years of age). Includes refrigerator, washer & dryer and window air conditioner. Low space rent!

Oh, not what you had in mind?  Even with a low space rent of $560 (which will probably double as soon as you finish signing those papers at the title company)?  Even with 15 pictures?

If you insist, there’s this.

121122-carryback-redfin5591 CARRYBACK Ave
San Jose, CA 95111
$245,000

2 Beds
2 Baths
1,121 Sq. Ft.
$219 / Sq. Ft.
Built: 1989
Lot Size: 2,184 Sq. Ft.
On Redfin: 265 days
Status: Active
Property Type: Attached Single Family
Community South San Jose
MLS# 81208122
Stories: 2
County Santa Clara

Good home conveniently located. This is a short sale. Please do not disturb occupants.

Whatever developer named this street sure has a twisted sense of humor, because it’s a short sale.  There ought to be a Piggyback Lane here too.  Be sure to check out the listing history, because this place has gone pending four different times in the last three years, plus it sold in 2000, yes, twelve years ago, for $247K.

What? You want a detached house?  Okay, but this is your very last chance.

121122-huran-redfin2138 HURAN Dr
San Jose, CA 95122
$248,000

3 Beds
1 Baths
912 Sq. Ft.
$272 / Sq. Ft.
Built: 1960
Lot Size: 5,150 Sq. Ft.
On Redfin: 16 days
Status: Active
Property Type: Detached Single Family
View: Neighborhood
County Santa Clara
Stories: 1
Community Alum Rock
MLS# 81240311

Another opportunity to own this 3 bedroom 1 bathroom single Family home located in San Jose. Very close to shopping centers, mall, and schools. Easy access to freeway 101. Sell is an “AS IS “ condition. Some dual Pane windows. Garage converted but permits unknown.

Oh, we’ve got a winner here! This one has everything! It’s also selling shortly, plus questionable permits and for sale as-is.  The listing copy mentioned the “easy access” to 101, but they didn’t mention the just as easy access to Reid-Hillview Airport. Hope you like the sound of takeoffs and landings!

And remember, more Black Friday Sales to come!

Comments (7) -- Posted by: madhaus @ 4:01 am

November 22, 2012

It’s Thanksgiving, and Here’s Your Turkey!

Happy Thanksgiving!  Sorry today’s house is late, as we were up all night prepping for a Burbed Feast.  Did you know how difficult it is to cut up the Real Bay Area into Census districts of half inch cubes without crossing any zip codes?

Now on to our entree. Today’s house was sent in by one of its former owners, a Burbed reader who wishes to remain anonymous.  Can’t imagine why!

121122-ardis-movoto361 Ardis Ave
San Jose, CA 95117 
Price:  $555,000

Loan Payment:  $1,902/mo
Bedrooms:  4
Bathrooms:  3
Size:  2,943 sqft
$/Sqft:  $188/sqft
Type:  Single Family House
Year Built:  1951
Lot Size:  9,424
Days on Movoto:  547 days
Sold Date:  05/31/11
MLS#:  81123441
Status:  Sold for $535,000

Contractors special-Huge Lot w/ Unlimited Potential. Build your Dream Home near Santana Row/Valley Fair.

121122-ardis-kitchenHere’s what our unnamed fan has to say about today’s main course:

The house that keeps on giving.. Yes I was one of the people who lost money on this West Valley Brigadoon. The person who bought it from me, never did one thing he said, just held it and turned it for my profit… This wreck has been untouched through 4 sales…

Will the next buyer be able to rehab this behemoth???

121122-ardis-tile-roomBad houses happen to good people :-0

This house was sent in just a week and a half ago, but the usually suspect real estate sites have it marked as sold already.  Either our correspondent just noticed his/her old place changed hands after almost two years on the market, or there’s a more recent listing we’re not finding.

Hey, Redfin, pass the white meat!  Click on through if you’re joining us from the front page.  The table is groaning.

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Comments (4) -- Posted by: madhaus @ 11:56 am

September 4, 2012

An awesome opportunity to own this terrific value, 75% complete sold AS-IS

Welcome back from your three-day weekend!  That’s assuming you didn’t work all three days because you’re up against some arbitrary deadline.  And if you did, maybe you’re thinking you really need a vacation.  Today’s property is for you!  Thanks very much to Burbed reader Dr. Jim for this superb bivouac in Big Sur!

120903-partington-redfin51422 PARTINGTON RIDGE Rd
Big Sur, CA 93920
$799,000

3 Beds 
3.5 Baths 
3,203 Sq. Ft.
$249 / Sq. Ft.
Built: 2003 
Lot Size: 2.03 Acres 
On Redfin: 483 days
Status: Active
Property Type: Detached Single Family
View: Green Belt, Mountains, Canyon, Ocean
County: Monterey
Stories: 2
Community: North Big Sur Coast
MLS#: 81120578

The essence of Big Sur, an awesome opportunity, to own an amazing Big Sur retreat property. A private & serene location, on 2+ acres with dramatic vistas of the Pacific Ocean, along with the green and gold flowered hills of the rugged Big Sur Coast. This diamond in the rough, a terrific value, property being sold AS-IS. 2728 s. f. main house, is 75% complete, & a separate 480 s. f. cottage.

120903-partington-ocean-viewAnd here’s why Dr. Jim took the time to share this with you:

Just found your web site – love it!
What’s going on with this one?  The property history is bizarre.

Property history?  What about the tiny little pictures that don’t show the 25% of the house that isn’t complete?  Talk about an awesome opportunity… to take on someone else’s money pit!

120903-partington-exposed-beamBut Dr. Jim is right.  Head over to the Redfin link and check out that property history.  We’d include it here, but it goes on for so long that we literally cannot copy it into one screenshot. Instead we’ll send you over there to have a scavenger hunt, where you have to find the not-an-arms-length transaction, the foreclosure, the sale at more than twice the above asking price, and count the exact number of times it went pending.

And then there’s this, back when the property was sold 9 years ago (for more than today’s asking price), when those plans for a “2800 SQ FT DREAM HOME MOSTLY FLAT” hadn’t been acted on yet.

120903-partington-redfin-old-listing$940,000 Last Sold Price 
0 Beds 
1 Baths 
500 Sq. Ft.
$1,880 / Sq. Ft.
Built: 1999 
Lot Size: 2 Sq. Ft. 
Sold On: Feb 25, 2004
HOA Dues: $655/month
Style: Cabin
View: Mountains, Canyon, Ocean
County: Monterey
Property Type: Detached Single Family
Stories: 1
Community: North Big Sur Coast
MLS#: 80340955

PRIVACY, OCEAN AND CANYON VIEWS WITH THE COMFORT OF PAVED AND GATED ACCESS GARDENS BLOOM WITH FLOWERS ON 2.1 AC. APPROVED PLANS FOR 2800 SQ FT DREAM HOME MOSTLY FLAT. VIEWS OF THE OCEAN AND A NATIONAL PRESERVE WILL GUARANTEE YOU

Will guarantee you what?  Argh, this is like reading a mystery and someone tore the last page out of the book!  Maybe it’s “If you build it, the foreclosure will come.”

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

June 14, 2012

Diamond in a Rough part of East San Jose

Here’s a find in the East Hills of San Jose, in Almost-But-Not-Quite-Evergreen.  Thanks very much to Burbed reader Tracy Tea House for this disappearing domicile.  Yes, disappearing, the listing went Pending-Do Not Show the day we wrote this and we had to search for it on literally SEVEN different real estate sites until we found one that hadn’t pulled the pix fast enough.  Today’s Thank-goodness-somebody-out-there-is-lazy real estate website is SAWBUCK.

3157 Markwood Court
San Jose, CA 95148
$586,000

120612-markwood-sawbuck

120612-markwood-stairwayBedrooms : 5
Bathrooms : 3
Lot Size : 0.29 ac
Finished Sq Ft : 2,253 sq. ft.
Type : Detached Single Family
Style : Traditional
Year Built : 1976
Subdivision : Evergreen
Stories : 2
MLS# : 81220317
WalkScore™ : 38 (Car-Dependent)

Diamond in a rough. Good location, near schools, EastRidge Mall. No warranty on Swimming pool/spa. Big lot. Two separate storages with no permit at rear. A lot of potential for this property. As-is sale.

120612-markwood-sidewaysHere’s why Tracy sent this Evergreen edifice in:

Not only does it have the favorite phrase Diamond in the rough.” The pictures are “works of art.” From the sideways one, the stairway cage or the coiled hose… Classic… especially the non-warrantied swimming pool.  120612-markwood-hose

Humm I wonder what is wrong right with it??

That’s “Diamond in A rough” not “diamond in THE rough.”  Perhaps they left a word or two out after rough.

Tracy also notes that the listing copy used to end with “Price reflect deferred maintenance on property.” instead of the current “As-is sale.”  We’ve added both the as-is and needs work tags. 

The pictures, all of them. are indeed works of art, if by “art” we actually mean “seriously, WTF?”  We’ve got every one of them for you (in case Sawbuck feels the need to abide by MLS rules) after the break.

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Comments (33) -- Posted by: madhaus @ 5:02 am

May 30, 2012

Could be a builder/investor’s dream place with bountiful of good restaurants

Burbed continues to look at the kind of houses that made this site what it is: crapboxes!  Today we have a Guest Post from Burbed reader mabel du of a memorable manor in Mountain View!  Please welcome mabel to the front page as today’s Guest Blogger!

Want to see your name in lights too?  Submit your housing finds for us to dissect, or your full write-ups, to the email addresses in the top right corner.


330 MOFFETT Blvd
Mountain View, CA 94043
$875,000

120527-moffett-redfin

BEDS: 4
BATHS: 2
SQ. FT.: 1,176
$/SQ. FT.: $744
LOT SIZE: 5,700 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Ranch
STORIES: 1
VIEW: City Lights
YEAR BUILT: 1960
COMMUNITY: North Shoreline
COUNTY: Santa Clara
MLS#: 81215495
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 32 days

Highly desirable Mountain View area within a couple of blocks of downtown with bountiful of good restaurants. Commerical residential zone. This site can be either one. Fixer upper. Could be a builder/investor’s dream place. Property to be sold in “as is condition”. Lots of potential!!! Easy access to highway 85 and freeway 101.

Don’t let this gem slip away into pending status before you can post it.  This is the hot new/old recycled listing from our past – twice – see the olde but goode listings on Burbed.

120529-moffett-burbed-2008

This crapshack wouldn’t take “no” for an answer a few years ago, so they raised the price $10k trying to win the housing (Facebook) lottery again.  I guess they think the kids with new Facebook money will jump all over this place as a diamond in the rough (note to realtor:  don’t hold yer breath).

120529-moffett-burbed-2006

This time, instead of sharing multi photos of Moffett Blvd, they’re just showing us the outside of the lil’ darling in a multi-use neighborhood. (Check out the satellite photo)

120529-moffett-satellite

120529-moffett-frontyardThis entry must be Burbed-worthy, especially the 3rd time around.  It looks like they’ve really spiffied-up the yard in the years since entry #1 graced yer lovely website;  they must have raked the leaves at least once in the last 6 yrs. 

Based on these front yard pix, i assume there’s a good sized corn mash still tucked away in the backyard.  It’s like re-visiting my childhood trips thru Appalachia; and it’s right here in mountain view, but without the nauseating drive through the mountains in the back end suicide seats of a station wagon! 

120529-moffett-garageAnd I didn’t even include the actual trauma of being IN Appalachia for summers w/my dad’s family! That the old station wagon was probably circa 1965 with those back end suicide seats – no seat belts, who needs ‘em!?!   One good bump and all the kids would have been projectiles out the back window, which was already rolled down and sucking in additional exhaust fumes (no AC back in the dark ages).  If you’re not old enough to remember ‘em, you missed an era.

Comments (21) -- Posted by: madhaus @ 5:03 am

February 29, 2012

The property is dangerous holes in floors debris all over

Today’s fun find is a Cambrian cutie from Burbed reader yaknuts.  If you’ve been wanting something in the suburbs, but enjoy a sense of excitement and unpredictability, this may be the house for you!  Come and talk a walk on the wild side of the Cambrian!

3682 May Ln
San Jose, CA 95124
$439,900

120227-may-redfin

BEDS: 3
BATHS: 2
SQ. FT.: 1,234
$/SQ. FT.: $356
LOT SIZE: 7,519 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Ranch
STORIES: 1
YEAR BUILT: 1959
COMMUNITY: Cambrian
COUNTY: Santa Clara
MLS#: 81204098
SOURCE: MLSListings
STATUS: Pending Without Release
ON REDFIN: 25 days

This is a CASH AS-IS SALE ONLY. contractor exp investor Special. THERE IS NOT A KITCHEN SO FINANCING IS NOT POSSIBLE. Aproximatly 500 foot of unpermitted additional space. Garage has been converted to living space. The property is dangerous holes in floors debris all over, dog waste all over back yard. Old garage converted to living space. Cooking done in microwave and outdoor bbq grill.

Here’s why yaknuts thought this home was Burbed-worthy:

120227-may-bbqI have been a long time reader of your blog. I came across this listing the other day (already taken down from Redfin).

Check out all the junk in these pictures and the description: "the property [has] dangerous hols in floors," "dog waste all over back yard," or "cooking done in microwave and outdoor 120227-may-patiobbq grill." It went pending on 2/5/12 for $439K. I don’t have time to do a full write up at this time, but I had to bring this to your attention. I hope to see a feature on this property soon — you should have plenty of material in this listing. Cheers!

This is one of those features that just writes itself.  After all, a picture is worth a thousand words, so we can save 7,000 of them.  Redfin could take these pictures down again any minute!

120227-may-kitchen

120227-may-tv 120227-may-diningroom120227-may-couch120227-may-sink

This must be one of those listings where the agent made a drunken bet with the broker.  In this case I’d venture they bet over whether incoherent photography sells houses faster.  That should explain why some of the rooms look almost staged, while others suggest they refused to spend 10 minutes picking up.

And since this poo palace went pending the very next day, congrats to the winner of that bet!  It clearly worked! 

Although we know who the real winner was when it came to this house: the geniuses who sold it in 2007 for $620K.

Comments (14) -- Posted by: madhaus @ 5:32 am