Let’s say you built a super expensive, fancy-schmancy custom one-of-a-kind house on a spectacular view lot and had a bunch of designers each decorate a different room in the place to make it Extra Super Mega Special. Then you ran a charity fundraiser by calling it a Designer Showcase and listed the place for $45 million.  And of course you list it with Sotheby’s.

And yet, let’s say this drop-dead-gorgeous spec palace did not find a buyer for $45 million (or, we assume, anywhere near that vicinity) when it was first listed this February.  What do you do?

You could cut the price ten million or so.  And it looks like that was tried as well, as the most recent price last week is $35.88M.  And yet, the house is still sitting there, all lonely on its double lot and intense blue skies obtained with the finest Photoshop filters.  What’s the next step to avoiding serious financial fail?

In this case, the solution (or at least the next attempt at avoiding a catastrophe) is to put the house up for auction.  The starting price will be $25 million.  At least one website actually states this is going to result in the home selling for last February’s price.

Alas, we missed the preview yesterday afternoon.  But the auction will be on December 30th, giving you plenty of time to contact the right people and get yourself in on the fun.

Redfin won’t disclose the address, but we sure will: 425 Belvedere Ave, Belvedere.  You’re welcome.

Click the image at right to see the home’s brochure and many more pictures in tones of sapphire and sunset.  You can also drool all over the home’s website if the brochure isn’t enough house porn for you.

So, is the market bubble over already, or did the home builders simply overreach with a $45 million ask?  What do you expect the place to fetch at auction?  Is the opening $25 million minimum sufficient to move this mess?

You’ve heard of eBay, right?  If you have something to sell, you can put a picture or five of your item on eBay and wait for the overbids to start racking up.  But sometimes, you just want to have the silly thing sold without the annoyance of setting a minimum bid or being sued for someone sniping someone else’s bid, or finding out your high bidder is expecting you to ship 100 jigsaw puzzles to Estonia for the $8 shipping fee you cleverly padded onto the final asking price.

We’ve covered houses going up for auction before, but this is the first one we’ve seen with another eBay feature.  Thanks very much to Michael Boltonestater for this wonderful wealthsink in Woodside.

320 HARCROSS Rd
Woodside, CA 94062
$12,950,000

BEDS: 7
BATHS: 8
SQ. FT.: 10,010
$/SQ. FT.: $1,294
LOT SIZE: 5 Acres
PROPERTY TYPE: Detached Single Family
STYLE: French
STORIES: 3
VIEW: Bay, Neighborhood
YEAR BUILT: 1929
COMMUNITY: Woodside Hills
COUNTY: San Mateo
MLS#: 81124548
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 383 days

AUCTION June 14 Starting Bid $7.9M Buy It Now for $12,950M “Le Soleil” a spectacular, c1920′s French Chateau, majestically set on 5+/- acres of exquisitely-landscaped grounds within sought-after-Woodside in the heart of Silicon Valley. Restored and renovated w/ modern amenities the estate features 7BDS, 7BATHS expansive terraces, tennis court, pool/spa and vineyards. Near 2 international airports

Yes, you did read that correctly.  “Buy it now for $12,950M”  Funny, “Mary & Brent” doesn’t sound particularly French.

But the price in the listing copy isn’t the only thing French about “Le Soleil.”  Because it’s just as French to not particularly care if the auction went ahead last week, or got delayed until October.  Remember, the French word for mañana is lendemain, but it doesn’t have quite the same sense of urgency.

This has got to be the first “Was $21M” house we’ve ever seen with postage-stamp-sized MLS photos.  Every single exterior shot is under 200 pixels.  Maybe they are postage stamps and we’ll be seeing them on wedding invitations all summer.

As to real property that you can Buy it Now on eBay?  Here’s something we swear we are not making up.

Okay, you can put this one on your American Express card, but is it near 2 International airports?

DEALS, DEALS, DEALS!  Aren’t you loving all these DEALS!?!  Remember, drive a little, save a lot!  So how much do you think you could save driving all the way to Sonoma County?  Remember, there was only one house under $200K in Marin County, so maybe we’ll find three here.  Plus, pick up an extra winery for the trip home.

But what would you say if I told you I found a property for under $100K that isn’t a hundred years old, isn’t a sub-750 foot cottage, and isn’t on a postage stamp-sized lot.  Would you believe me?

664 Acacia Ln, Santa Rosa, CA 95409
$39,000

BEDS: 3
BATHS: 2
SQ. FT.: 1,404
$/SQ. FT.: $28
LOT SIZE: 0.43 Acres
PROPERTY TYPE: Residential, Detached, Single Family
STYLE: Ranch
STORIES: 1
YEAR BUILT: 1964
COMMUNITY: Northeast Santa Rosa
COUNTY: Sonoma
MLS#: 21129043
SOURCE: BAREIS
STATUS: Active
ON REDFIN: 21 days

Listed price is Minumum bid. Single level home 3/2 with fireplace and central heat. Fenced rear yard with detached 2 car garage. Information on property gathered from public records.

The listed price is a minimum bid?  Sold for $635K in 2006, you get 94% instant equity!

Oh, dear, a quick trip over to Zillow has a very different story.  This house is on Auction.com and will be subject to a minimum $39K bid starting December 18th (per Zillow) or starting December 1st (if you believe Auction.com), ending on December 4th.  CASH ONLY!

This is the second house we’ve found where another site links to Auction.com and Redfin doesn’t know anything about it.   Just sayin’.

Happy Thanksgiving from Burbed!  And one thing to be thankful for is we’re not taking today off.  We are also thankful for our many wonderful readers, without whom we would never be able to bring you Real Bay Area Real Estate, House Price and Mortgage Insanity on a regular basis.

Speaking of wonderful readers, here’s a momentous mansion in Mountain View from Burbed reader dollarbin!

2178 LELAND Ave, Mountain View, CA 94040
$725,000

BEDS: 4
BATHS: 3
SQ. FT.: 1,920
$/SQ. FT.: $378
LOT SIZE: 4,947 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 2
YEAR BUILT: 2007
COMMUNITY: San Antonio
COUNTY: Santa Clara
MLS#: 81129200
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 144 days

Maybe the Final Price Reduction before it goes to auction! Take a second look! Enjoy this stunning 4 year old well maintained home with 4 bedrooms and 3 baths, 1920 sf of living area, wrap around porch, granite kitchen, granite faced fireplace in living room, 4 spacious bedrooms including downstairs master suite. This home sits in a 4791 SF lot in a well sought after Mountain View area.

Here’s what dollarbin was thinking when sending us today’s Thanksgiving Turkey.

I swear this has been on Burbed before, if not it might spark some discussion. I don’t know if this house has ever actually been occupied, the sales history suggests it hasn’t. Mere inches from the Caltrain tracks, you can shop at Mi Pueblo in your slippers too.

If this house has been on Burbed, it was hiding under a different address.  And it has quite a history, too.  Take a look at this!

And if you think that’s interesting, then look what Zillow has to say about this place!  But none of those missing listings from 2007-08 are there.

Here’s the link to Auction.com in case you want to bid on this house.  I really like the exterior shot they’re using instead of the one above on Redfin (sorry about their annoying little banner there).  Arty!  Too bad the other 4 photos are the same as before.

$725,000 really was the final price before the auction after all.  Take a second look, since you’ll be eating today’s meal a few more times too.  This house and its history can make you feel thankful for so many things.  Why not share them in comments?

Remember to get up extra early tomorrow as we begin our Black Friday Sales!  Have a Happy Thanksgiving!

Say it isn’t so!  A little bird tells me this place is going to be auctioned off soon.  Lots of homes are foreclosed on these days, but not many have the pride of place this one did.

 

633 COLERIDGE Ave, Palo Alto, CA 94301
Last selling price $1,585,000 in Dec 2005
Auction Price: $1,262,250

BEDS: 4
BATHS: 3
SQ. FT.: 2,400
$/SQ. FT.: $660
LOT SIZE: 6,696 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Country English
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1945
COMMUNITY: Old Palo Alto
COUNTY: Santa Clara
MLS#: 80531585
SOURCE: MLSListings
STATUS: Sold

Lovely 2 story English style in Old PA on a cul-de-sac near Walter Hays Elemen School. Spacious w/ gleaming hdwd, new paint, family rm/kit combination. Lge LR w/ beam ceilings 2 outside patios-reared gd fenced. Driveway at rear. Garage

Say it isn’t so!  The FBs are so down on their luck they have to use abbreviations in their listing, too!  And this house has such a convenient location, gently tucked into the corner near Middlefield and Embarcadero.  You can go ANYWHERE from there!

Here’s the auction information:

Whoa, that’s this Friday!  And it’s got a Zestimate of $1.94 million, so this is a no-brainer!  Now, the plot thickens, because both Redfin and Zillow say it’s off the market, with last sale in 2005.  But lookie here:

Instant equity ka-ching! Bring your cashier’s checks and come on down to San Jose, because this one is going, going, gone soon!

Here’s a short but sweet entry for your weekend pleasure.

15980 Short Rd, Los Gatos, CA 95032
Foreclosure, Not for Sale

BEDS: 6
BATHS: 4
SQ. FT.: 7,111
LOT SIZE: 1.48 Acres
AUCTION DATE: Friday, January 21, 2011
AUCTION PRICE: $2,214,000
STORIES: 1
# OF ROOMS: 12
YEAR BUILT: 1982
COMMUNITY: Los Gatos
COUNTY: Santa Clara
LISTING #: 302830461
SOURCE: Public Records
STATUS: Foreclosure
ON REDFIN: 127 days

Sorry, this is one short sale the bank won’t let you touch.  There’s no Streetview, either, but here’s the house:

And here’s the neighborhood.

This house is a 7,111 square foot behemoth, and none of them are for sale.  JP Morgan Chase needs to be told what “selling shortly” is all about.  That street name was somewhat prescient.

PropertyShark has this place owned by the same people for the last 30 years.  All they listed was a refinance in 1998 for $750,000.  How’d they manage to get it auctioned off to the bank?  There’s a story here.  And it’s okay if you don’t know it, because this is also a Weekend Open Thread, so tell us any other story you wish.

Thanks to Burbed reader madhaus for this guest post!

Everyone knows construction costs in the Bay Area are “through the roof” because it’s so Special here.  What everyone did not know is that some places are so Special that it will cost more for a water meter than a house almost anywhere else.

Bolinas is north of San Francisco, but the residents don’t want you to find them.  The state has given up replacing any direction signs to the town, because they keep getting torn down.  And even if you can find your way there, don’t plan on moving into a new house.  There are exactly 580 water meters allowed in Bolinas, and they don’t come up for sale very often.  No water meter, no new construction.

One is coming up for sale very soon, and it’s going up for auction.  Minimum bid: $300,000.  It’s for sale because a the town, aided by billionaire venture capitalist Michael Moritz, bought a house that burnt down and is turning the lot into a park.  The auction ended Friday, April 16th, after this NY Times article was published.

For most of the last 39 years, “the only way a water meter came free was when a house burnt down, or fell off a cliff,” said Barbara Rothwell, a longtime Bolinas resident.

The meter moratorium has survived, even through protracted litigation, with the support of residents who like this isolated town the way it is.

The last water meter to come up for auction was in 2005, and it sold for $310,000.  Now, that’s Special!  How are your Special communities keeping out the riff-raff?
Incidentally, don’t you think The Bolinas Water Meters would be an awesome name for a rock band?

Update, 4/20/10:  Nobody submitted a bid for the coveted water meter. The deadline has been extended another week, ending on Friday April 24th.

Update, 4/28/10:  No bidders on water meter, auction extended to May 14th

Your chance to get a rare Bolinas water meter has been extended to May 14.

“We want to give people more time,” said Flower Fraser, owner of Seadrift Realty, who is ready to collect the bids.

The original deadline was April 16, then was extended to Friday and now until mid-May. Seven parties have inquired about the meter, but no one has submitted a bid.

Maybe some properties outside the RBA aren’t all that Special.

512 STANFORD Ave, Redwood City, CA 94063 | MLS# 80914854
512 STANFORD Ave Redwood City, CA 94063
Price: $234,900

Beds: 3
Baths: 1
Sq. Ft.: 820
$/Sq. Ft.: $286
Lot Size: 2,500 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1962
Community: Dumbarton
County: San Mateo
MLS#: 80914854
Source: MLSListings
Status: Active
On Redfin: 144 days
Charming bungalow in the desirable Dumbarton Acres neighborhood with some updates, wood floors, spacious living room/dining room combination with wood burning fireplace, dual paned windows, tile bathroom, patio, close to shopping and transportation

Thanks to Burbed reader Rosemary for this find. Hey it’s on Stanford Ave, one of my favorite streets in the whole Bay Area!

It appears that Rosemary read about this house here:

Fat deal on triple homicide house

Turns out that violent crime is a great way to knock a hundred thousand dollars off an asking price.
512 Stanford Avenue: After a triple homicide, the price fell to $167,500 (the highest bid as of publishing) from $337,000.

Case in point: 512 Stanford Avenue, in Redwood City, was the site of a bloody triple homicide in June 2008. And although the house still looks like it’s active in the MLS system (priced at $234,900), the property has gone to auction, where the highest bid is currently $167,500.

The house, which is marketed as a “charming bungalow in the desirable Dumbarton Acres neighborhood” was re-listed in March 2009 for $285,000, and that’s down from its original asking price — $337,000 — at the time of the murders.

(Hat tip to San Mateo Home Sellers in Trouble for spotting the listing.)

Hey, those murders happened in 2008 – that’s like 10 social networking years ago. And besides, just look at that great Ikea bathroom!

Now if only this house had 8 murders – then it would be lucky!

I’m not sure if people noticed from yesterday’s post, but there is an auction at the San Jose McEnry Convention Center tomorrow (4/27) at 8:00am.

This is probably your last chance ever to buy into some parts of the Bay Area (not the Real Bay Area, but close) before you are priced out forever. Spring Bounce is in full effect, and then Summer Summit will come and blow you away. Followed by Fall Fiesta and Winter Wonderful, of course.

Are you going? Post a comment – maybe you can meet up with other Burbians.

Are you reading this on 4/27? What happened? How many dozens of houses did you buy?

500 Hurlingame Ave Redwood City, CA 94063

Starting Bid: $179,000
Previously Valued To:* $480,000

Item #: 752
Address: 500 Hurlingame Ave Redwood City, CA 94063
Property Type: Single Family
Year Built: 1958
Square Footage: 1020
No. of Bedrooms: 3
No. of Bathrooms: 1
Total Rooms: 6
Lot Size: 0.05
Occupancy Status : Vacant
Financing Available : Yes

Hey wait a minute… this sounds familiar! Now I remember!

Very very clever!

You see, buy using a ludicrous starting bid like $179,000 approximately 1 million people will show up to with cash and Google stock in hand to buy this house.

Having just been sold on 9/4/2007 for $464,120, and a Zestimate of $535,500, I predict this house will easily clear for $535,500.

What do you think this Hurlingame house will clear for?

(Thanks to Burbed reader Michelle for this find.)