Thanks very much to Burbed reader B Parker for today’s find on Craigslist!  Ads there rarely last long, so we’ll capture everything for posterity.  Posterity in Silicon Valley terms is probably even less than a Friedman Unit.

$2064 / 1br – 650ft² – Walk to Cupertino Schools from Your Brand New Home! (sunnyvale) (map)

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Date: 2012-05-22, 2:24PM PDT
Reply to: see below ^{[Errors when replying to ads?]}

ESXPT220
Belleville Way at Homestead Road (google map) (yahoo map)

• cats are OK – purrr
• dogs are OK – wooof
• it’s NOT ok to contact this poster with services or other commercial interests

PostingID: 3031817347

Here’s why B sent this rental ad in (and we don’t see enough examples of rental ad fail, so we’re quite pleased with this one).

Walk to cupertino schools from your 650sqft 1br apartment

The photo on the Craigslist ad goes to the apartment’s website, which is really great or we wouldn’t have found this awesome kitchen.

But walking distance to Peet’s Coffee AND Starbucks?  SOLD to the caffeine fiend with kids who don’t mind sharing your bedroom!

Did you like the photo of a free house when you buy a dishwasher?  It was too good to be true, as that offer was only good in Maryland.  So here’s another “free” gift with purchase.  Thanks to Burbed reader Overheard in San Carlos’ Friend for this find.

First, the Craigslist ad, which has been yanked:

Here’s the relevant text:

I will find a reasonably priced house/condo for you, and will give you back a rebate 0.5% from purchase price ($1,500-$5,000 on average), PLUS purebred Ragdoll kitten to people who buy or sell a property with me:

But this amazing offer is on the agent’s website too.  Look at the photo in the upper left!

Here’s the cattery the agent uses for the “free” kitten, Ragdoll Palace.  Think about that name while considering the palaces we looked at in the upper tier of the Case-Shiller Index earlier this week.

Elena explains why she’s giving away a FREE KITTEN with every home transaction:

According to a popular belief in Europe and Russia, new homeowners should first let a cat walk into their new house, then the owners can cross the threshold. The cat will bring good luck and wealth to the new home. I love beautiful superstitions and want people, whom I help buy a new house or a condo, to have a very good luck in their new homes. That is why I am offering Buyers my appreciation gift of the cutest Ragdoll kitten to step into their new home for good luck.

Go ahead, click on that link to beliefs above.  It takes you to a list of Russian folk traditions, not one of which mentions anything about having cats walk into a new home.  It does say this, though:

When giving an animal as a gift (a cat, dog, bird, etc.), the receiver should give the giver a symbolic sum of money, for example one Russian ruble.

Returning the promised rebate check to Elena will easily accomplish the same thing.

Thanks to Burbed reader Gallileo for this find!

Excellent Investment Opportunity: Corner Lot Residence in Palo Alto’s Best Neighborhood!
Location: Old Palo Alto
This 3br/1.5ba single-family residence is an owner-occupied, ranch style one-level home (1328 sq. ft.) with a two-car attached garage. The house was built in 1950 and is on a corner lot (5625 sq. ft., Zoned R1) surrounded by multi-million dollar estates in the most prestigious neighborhood of Old Palo Alto located just ten minutes walking distance to University Ave. in downtown Palo Alto.
The owners have lived on the property since 1977 and prefer to continue residing in the home for the next ten years as opposed to accepting a traditional outright sale. Based on a 2007 appraisal, the property was valued at $1.2m. The property’s current fair market value now is estimated to be at least $1.0 million. *According to the City of Palo Alto Development Center, a new house may be constructed up to 2,438 sq. ft. (not including basement area which may also be built up to the same square footage area as the main level.)
The owners are open to all serious offers. However – as a reference point, they have considered the summarized scenarios below which will enable them to continue living in the property.
SCENARIO A
The owner-occupant will accept a $600,000 loan secured by a new first deed of trust at 6% compounded monthly. The owner will continue to live on the property with no loan payments and move out in 10 years with an end payoff to the lender of $1,091k in ten years. An alternative option is the owner would agree to pay a lender 60% of the purchase price in 10 years – allowing the buyer to be paid whichever payoff is higher depending on how inflation affects the property’s value at the end of ten years. *An investor in this scenario would need to consider their imputed interest because an investor making a loan with no payments (such as buying a zero-coupon bond) may still need to pay tax each year on the interest that accrues during the year. In this instance, a retirement account or non-profit entity may be a suitable investor.
SCENARIO B
The owner will accept $900,000 for the property as-is, through an outright sale now. The seller will continue to live in the property for the next ten years. Rather than paying rent to the new buyer (on which, an investor would be required to pay income tax), the seller will instead continue to pay 100% of the ongoing costs of property owner­ship such as insurance, property taxes, and maintenance during the ten years at which time, the buyer can take possession and/or sell.
SCENARIO C
Buyer to purchase a 67% undivided interest in the property for $600,000 cash. At the end of ten years, the current owner will sell their remaining 33% with a first right of refusal to the buyer for its fair market value.
*Buyers are required to consult with their own attorney and tax consultant, and are urged to conduct their own due diligence with the City of Palo Alto Planning Department regarding usage, building restrictions, and zoning laws. Any contracts and/or deed of trust will be recorded with both buyer/seller parties providing their own attorney representation and contract review at their own expense.

Property Location
740 Addison Ave.
Palo Alto, CA 94301
View Map
Features
Bedrooms: 3     Bathrooms: 1.5
Parking Spaces: 2       Year Built: 1950
Lot Size: 5625  Garage Size: 2
School District: Palo Alto      Square Footage: 1328

Here is another one for you. My guess is that someone has had a little too many cash-out refi’s and is looking for a way to stay in their home, but it’s really the bank’s at this point. Just look at the artistic color–easter egg blue is all the rage these days. Plus it is located on the corner of Fulton Street, which is Palo Alto’s “Christmas Tree Lane”–just on the part of it that isn’t part of the show. You get the Fulton street connection with none of the pesky tourists!

And such a realistic price–Just mention the 2007 price and you know you get 200K of instant equity just out of the gate. Now there is an investment worth pursuing.

I noticed this ad on Craiglist:

$1850 ***HOME***2 Bed / 1 Bath + Bonus Room w/Full Bath***HOME****
Great home on a beautiful 4000 square foot lot. Exceptional details of this home include:

2 Bedrooms, 1 Bath, recent remodeled kitchen, large secured back and front yard. Attached garage converted to studio (unwarranted) perfect for additional bedroom or home office. Large yard has water well available. Plenty of storage and large tool 15 x 12 tool shed. New Paint, and Carpeting. Kitchen appliances, window coverings and washer and dryer included.

·Two bedrooms and one bath.
·Additional unwarranted bathroom in garage, great for office or additional living quarters.
·Spacious kitchen plenty of newer cabinets, and counter tops.
·Large level back yard landscaped with garden area.
·This property includes a one car attached.
·Large and secured front and back yard.
·Recent work done to the home includes interior paint and carpeting.
·Conveniently located within walking distance to shopping center and freeway access.
·Extra storage throughout the home including large 15 X 12 tool shed
·All appliances included.

If you click the link, you’ll see that the house is none other than the one featured in early April on this blog:

What’s the 5th most affordable home in Redwood City like?

This is how I described it then:

Unfortunately, I was never able to enter the home. Why? Because I couldn’t find a parking spot!

Yep – on the day I was there, every inch of the street had been taken up by either a pickup truck, an industrial truck with landscaping equipment, a trailer, or an commercial van. Heck, I could barely find the house with all those tall vehicles on the street.

This is just a hunch, but I suspect that it hasn’t improved dramatically as of late.

But for fun, let’s do the math… according to this calculator, a 30 year mortgage w/10% down would run you $3442 a month. Or, if you got an Interest Only loan, it would be $2195 a month.

Hm… this calculator says that you will not break even after 30 years!

There’s just one mistake though: they forgot that Redwood City is special, that the equipment to detect illegal gun fire is working, and they’re not making any more Redwood City.

I bet you’ll break even after just 2 years. What do you think?

Quick! What’s the difference between this house on craigslist:

And this house on MLS Listings?

MLSlistings Property Detail for MLS number 630122
12493 SARATOGA AV
Saratoga, CA 95070

$1,150,000

This Single Family Residence has the following features:
MLS#: 630122 Approx Age: 49 Years Approx Sq Ft: 2480
Detached Single Family 1 Story Ranch
4 Bedrooms 2 or More Master Suites 3&1/2 Bathrooms

If you said “$40,000 because people love to dream on Craigslist” then you win!

(Thanks to SVRenter)