I am delighted to welcome a long-time listener, first-time caller to the front page of Burbed today. Usually new visitors to the site spend some time posting in comments, but this contributor decided to go for the gusto with a write-up of a century-old house in downtown Mountain View.
Please give NovaSupreme a warm Real Bay Area welcome as today’s Burbed Guest Blogger.
SQ. FT.: 432
$/SQ. FT.: $2,079
LOT SIZE: 7,500 Sq. Ft.
PROPERTY TYPE: Detached Single Family
YEAR BUILT: 1910
COUNTY: Santa Clara
ON REDFIN: 17 days
Existing two bedroom/one bath property with no value. The value is in the land. Great opportunity to tear down and rebuild to your "dreams". Desirable neighborhood, tree lined street, and walk to downtown shops. Please call agent for more information.
This house has plenty to offer, specifically 432 sq ft @ $2,079/ft (don’t confuse with 2079 sq ft @ $432/ft). While that may seem a tad pricy, remember the property has no value (saves $$ during inspection) so it does not matter. 432 sq ft is just as good as 4320 sq ft if it’s a tear down.
It promises you a close walk to the downtown and the library. I know what you are thinking – why buy the house? Why not just save the money and spend the day in the library and night in the pubs in the downtown? You little cheapskate! If everyone starts doing that, do you think I’ll get a table on Friday night in any half decent pubs? Seriously, do your part in keeping me sane.
You can also build your "dreams" here. You may think being a rich guy (And for the first time you are right — $900k is plenty of money even in Bay Area where average household income is $80k) you can buy anywhere you want for that kinda money! Naive. Apart from the fact that you have never been to Atherton, let me tell you, you have no understanding of real estate and human culture. The problem with spending lots of money on a house is not that you spend lots of money (it would be a problem if I were to spend the money, you spending is OK). Rather, the problem is that an expensive house gets you in a certain ‘interesting’ neighborhood, shall we say? The schools are good, the streets are quiet, people are too busy founding the next Facebook to know the neighbors . It gets dull. It gets just too easy. Do you think your kids will grow up to face harsh realities of tomorrow’s world? Give them a chance. This house is unique, in that even after spending $900k (and thus earning bragging rights):
- You get no house (just the land — but hey, Wal-Mart is selling tent camps for $45)
- Parking will never be a problem, there is a big parking lot next door
- Kids go to solid average schools, like the rest of country
- Constant traffic on the 3 roads means you don’t need a clock in the house (save $100 right there). Too many cars going off to the south – must be time for library to open. People honking on California St, must be 9AM office time. Remember, the bus runs every 30mins, and the train every hour.
- And you get 3 roads, 3 cars and a gentleman with a suitcase as freebies as depicted in the MLS pictures
DISCLAIMER: as with every investment, this one too is not without risk. Just in 7 days, the listing price has been slashed by more than $50k. If the trend continues, and God forbid, the price gets below the prestigious $898k mark, you may not spend enough money to earn bragging rights. If you may try to overbid too much, the seller may think you are a nitwit. Act quickly.