October 14, 2013

We’re #1! We’re #1! We’re… PRICED OUT FOREVER!

Yesterday we shared a San Jose Mercury News (motto: Website now as thin as our newspaper!) piece showing many first-time buyers are going to remain full-time renters for the time being.  And that’s true even if we spot them places like Hayward and Mountain House.

That’s distressing news if you hate your blood-sucking landlord (but we repeat ourselves), your noisy neighbors, or your shiftless property “manager.”  Let’s balance that cup of cold crappy colloquy with some news that will turn your frown upside down.

Where Can the Middle Class Buy a Home?

131013-sf-least-affordable-ggbBy CONOR DOUGHERTY, The Wall Street Journal

If you’re in the middle class and want to buy a home here’s a piece of advice: Move to Ohio (if you’re not already there).

Some 86% of homes in the Akron, Ohio area are within reach of middle-class buyers in the area, the highest share in the nation, according to a report from Trulia, the real estate listings site. The next two cities on the list, with 85% of homes affordable to middle class, are Dayton and Toledo, respectively.

For those of you in the coastal elite who are reading this post for the perverse pleasure of finding out just how unaffordable your city is, you might be surprised to hear that New York isn’t No. 1. San Francisco is the least affordable place to be a middle-class buyer, with only 14% of homes within reach of those making the median San Francisco household income of $78,840, according to Trulia.*

However, we were slightly surprised by the next two most unaffordable places, Orange County and Los Angeles, respectively. New York was the fourth least affordable place to be middle class. After that were San Diego and San Jose and Ventura County.

Sooooo, SF is #1 but Silicon Valley is #6? But note, California completely PWN3D New York and the entire East Coast in the unaffordability sweeps. Washington DC? Shut out by the shutdown. Later, you imperialist running dogs no longer feeding at the public trough for the next few days!  When it comes to places nobody can afford to live in, we can revel in our Specialness!

131013-sf-least-listThe Trulia link above (yes, of course it works) says that while San Francisco has a 60% higher median income than most-affordable Akron, Ohio, homes there sell for (deep breath, now) seven times as much.  Only 14% of homes for sale are affordable to a household earning median income for the area.  Even worse, whoops, we mean better, San Francisco has dropped ten more percentage points in affordability since last October when 24% of homes could be purchased by a median income household.

To get slightly wonky, the real formula was what percent of homes’ monthly payments were 31% or less of the median household income, which shows the problem right there.  Everyone knows if you want to buy a house in SF, Cash is King. Monthly payment? Might as well ask if they’ll sell you the house for a hogshead of buggy whips.

San Jose’s affordability index per Trulia was 31%, but then again, none of the contenders were anywhere close to SF.  Second-place Orange County came in with only 23% of homes rated affordable by the “middle class.”

Trulia also provided a “maximum affordable home price” for each area.  Let’s take a look at what you get for that price.  Here’s a 5 BR/3 BA in SF at only $10K less than the maximum affordable amount. Of course this house is in Bayview and it has some permit issues, but you can’t have everything.

131013-sf-least-newhall

Contrast to how far your dollar S-T-R-E-T-C-H-E-S in San Jose!

131013-sf-least-waverly

Wow, a gated estate with lots of CAPITAL LETTERS and it’s yours AS IS, which means the seller won’t switch houses on you!  And just for giggles, let’s see what an “affordable” house in Akron (highest affordable house: $226K) looks like.

131013-sf-least-akron

OMG look at that house! Those bricks are going down into a big ol’ pile as soon as The Big One hits! Not only that, it would take at least a couple more hours to get to Google from here than the other two houses we showed you.  And when you look out in the boonies like this, notice what you don’t get: a decent fence around the place to keep the nosy neighbors away.

We won’t even get into the difficulty of transferring into Cupertino schools.

Comments (8) -- Posted by: madhaus @ 7:08 am






October 2, 2013

Investment opportunity! Tenants willing to rent back.

10200 TORRANCE Ave
San Jose, CA 95127
$399,000

20130930a

It’s Silicon Valley! Who doesn’t like an investment opportunity!

So, if this has been renting for $1,800 per month for more than 4 years, doesn’t that mean that this is underpriced? As the new landlord, would you immediately double the rent to the market value of $3,600? After all, the rent was based on the price before the remodel! That seems awfully low.

What’s your pricing strategy for this?

And let’s not forget this large lot in the back!

image

It’s so… triangular! That just means you can build an incredibly unique, and therefore, incredibly expensive (because it’s rare!) house in the back as well! You could market this as the Triangle House – TriHo for short!

Comments (2) -- Posted by: burbed @ 5:48 am

October 1, 2013

6 SINGLE HOME OR APARTMENT UNIT OR CHURCH OR TEMPLE OR COMMERCIAL

898 TULLY Rd
San Jose, CA 95111

20130930

As we all know, one of the most important things you can have in life is options. Unlimited options = freedom, and freedom is the bedrock of our nation.

This plot of land has many options… almost unlimited options! Thus, this plot of land is freedom.

What would you build on it if you owned this? A church? A temple? A single apartment unit?

Please answer soon. HURRY UP!

Speaking of hurrying up, it’s interesting that this house has been on the market for 270 days. Where have I seen this before?

http://www.burbed.com/2012/08/14/instagram-makes-anything-better-right/

August 14, 2012

Instagram makes anything better right?

898 TULLY Rd
San Jose, CA 95111
$1,300,000

20120812898

Maybe the realtor should switch to Vine! Then this house would really hurry up!

Comments (5) -- Posted by: burbed @ 5:24 am

September 6, 2013

East San Jose Mawbul Kawlums! This house sits on a lot of square feet

Okay, East San Jose hills, but still! Oh my gawd who lives here, the POPE?  Thanks very much to Burbed reader TL in San Jose for sending in this feature that indicates what makes a joint classy. KAWLUMS!  Put some in your bedroom!

130905-chaboya-redfin4227 CHABOYA Ct
San Jose, CA 95148
$2,988,000

7 Beds
6.5 Baths
8,314 Sq. Ft.
$359 / Sq. Ft.
Built: 1989
Lot Size: 3.40 Acres
On Redfin: 14 days
Status: Active


130905-chaboya-kawlums1

130905-chaboya-kawlums2Not only this mansion teeming with MAWBUL KAWLUMS, the listing isn’t full of much of anything. We didn’t forget the description; there isn’t any. Also missing are basic entry items such as the County, the house style, and how many stories in the building. But this agent doesn’t have any stories to tell. Instead, we’ll let the photos do all the talking.

We did find this description on MLSListings:

130905-chaboya-kawlums3*BREATHTAKING UNSURPASSED VIEWS OF SF BAY AREA, SILICON VALLEY, AND THE BEST SUNSETS IN THE AREA* 7 BEDROOMS* 6.5 BATHS*2 MASTER SUITES* 2 KITCHENS W/ S.S. APPLIANCES* EXTRA LARGE BUILT IN FRIDGE* GRANITE SLAB COUNTERS HUGE ENTERTAINMENT/BONUS AREA* UNPARALLELED CUSTOM FINISHES THROUGHOUT *HIGH CEILINGS* MARBLE FLOORS* DRAMATIC STAIRCASE* BASKETBALL CT* VINEYARD * SOLAR POOL* EXCELLENT SCHOOLS*

130905-chaboya-kawlums4Best of all, it links to a virtual tour with, we shit you not, 80 pictures.  Because the 25 on Redfin are obviously not enough. Also not enough are the missing description in Redfin and the ALL-CAPS one above. So we are delighted to share the one from the virtual tour as well, because it demonstrates the care and consideration taken with selling a three million dollar house.

130905-chaboya-description

It certainly does. 148,104 sure is a lot.

130905-chaboya-kawlums5130905-chaboya-kawlums6

Comments (8) -- Posted by: madhaus @ 7:02 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.

(more…)

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

November 12, 2012

Downstairs bedrooms may be locked

Listings tend to fall into certain kinds of categories here at Burbed.  There’s your all around crapshack, usually sold for the land value and no pictures inside.  There’s your overbuilt flip that’s wrong for the neighborhood.  There’s your overbuilt “dream home” that’s wrong for any neighborhood, and its cousin, the nightmare home whose builder ran out of money. Burbed reader Tracy Tea House has found us something else entirely over in East San Jose: winner of the wtf tag.

121111-mtkenya-zillow1764 Mount Kenya Dr
San Jose, CA 95127
Not for Sale

Zestimate $434,672
Rent Zestimate $2,549/mo
Est. Mortgage $1,507/mo

Beds: 5
Baths: 2
Sqft: 1,884
Lot: 5,662 sq ft / 0.13 acres
Type: Single Family
Year built: 1961
Construction quality: 6.0
County: Santa Clara
Last remodel year: 1961
Legal description: TRACT 2450 MT PLEASANT BOOK 132 PAGE1 7 LOT 792
Lot depth: 105
Lot width: 54
121111-mtkenya-kitchenParcel #: 64724054
Per floor sqft: 1,884
Total rooms: 7
# Stories: 2.0
Structure type: Other
Unit cnt: 1
Zillow Home ID: 19786732

Split level home with so much potential. Three bedrooms upstairs and two downstairs. Open floor plan with large living room. Inside laundry. Downstairs bedrooms may be locked but rest of the house is view-able. Large separate storage room outside, detached workshop. Some double-pane windows. Home needs front and back landscaping, has nice decorative stone wall. Good handyman special.

121111-mtkenya-livingWe’re not going to let a little thing like the house not being for sale stop us.  Besides, Movoto’s got it for $350,000.

Here’s what Tracy had to say when sending in this Alum Rock redoubt:

Do not drink before viewing these pictures!

Oh wow. Wrong in so many ways, but the picture of the kitchen is a first for me! This house just hit the market for 350K

What, you’ve never seen green cabinets before?  Oh, you mean this one.

121111-mtkenya-grill

We don’t think we’ve ever seen one of those in a kitchen before either.  Guess putting it outside isn’t that good an idea.

121111-mtkenya-yard

Bunus: Check out the (five years) old listing photos currently on Redfin.

Comments (8) -- Posted by: madhaus @ 5:01 am

October 31, 2012

Trick or treat?

121030-vollmer-pumpkinIt’s Halloween!  We’d love to hear what you’re dressed up as today, and what your kids are wearing to their Real Bay Area schools!  But first, the trick. 

Burbed reader Tracy Tea House is serving this San Jose special today, and we’ll leave it for you to unwrap.  Remember, Tracy likes Trulia for listings, so you can too.

121030-vollmer-trulia1747 Vollmer Way
San Jose CA 95116
$429,900

Reduced $20,000 on 10/12/12
Est. payment: 
Bedrooms: 4 
Bathrooms: 2 full, 2 partial 
29 days on Trulia
171 views
Property type: Single-Family Home
Size: 1,658 sqft
Lot: Ask agent
Price/sqft: $259/sqft
Year built: 1947
MLS/ID: 81236242
Neighborhood: Alum Rock, 95116

San Jose, CA – Single Family Detached
Description provided by Trulia

This Single-Family Home located at 1747 Vollmer Way, San Jose CA is currently for sale and has been listed on Trulia for 29 days. This property is listed by CENTURY 21 Alpha for $429,900. 1747 Vollmer Way has 4 beds, 4 baths, and approximately 1,658 square feet. The price per square foot is $259. The property was built in 1947. 1747 Vollmer Way is in the Alum Rock neighborhood in San Jose, CA.

121030-vollmer-roomHere’s what you get when you ring this doorbell:

Lord Voldemort’s street… This one scares me and the listing croppy is just that, strange and mystifying. Seems like, from the satellite,  there is some kind of evil carnival located on the street behind.

Listing copy?  We see no listing copy here.    Redfin says, menacingly, “There are no remarks available.”  Maybe Lord Voldemort… disposed of it… along with 121030-vollmer-kitchen-redfinthe lot size the agent won’t disclose online. Hint: 6477 sf per Redfin. They also have three completely different photos, including this kitchen as classic “before” snap, and a yard perfect for burying mistakes.

Now here’s a treat: pictures inside the house from three years ago.  Plus an even older listing (nine years! for $388K! with overbidding!), no photos but actual description:

MOTIVATED SELLERS HAVE ALREADY FOUND REPLACEMENT HOME AND READY TO MAKE A DEAL NEW ROOF HAS BEEN DONE WITH GUTTERS * * * TILE KITCHEN, FRENCH DOORS TO BACKYARD CENTRALLY LOCATED TO FREEWAYS AND SHOPPING * * GARAGE CONV. PERMITS UNKNOWN

Like Dr. Frankenstein, we’re digging up pieces all over the place to assemble this monster.  Movoto cached the recent listing description!

121030-vollmer-movotoPrice:  $429,900
Loan Payment:  $1,497/mo
Bedrooms:  4
Bathrooms:  3
Size:  1,658 sqft
$/Sqft:  $259/sqft
Type:  Single Family House
Year Built:  1947
Lot Size:  6,477
Days on Movoto:  26 days
Neighborhood:  Alum Rock
MLS#:  81236242
Status:  Pending – Do Not Show

This is a very large home at a reasonable price. Look no further for these one`s in a life time opportunity home. Close to all convenience for your benefit.

121030-vollmer-satellite

That does sound creepy.  Have a look at the carnival and Happy Halloween!

Comments (9) -- Posted by: madhaus @ 5:03 am

September 12, 2012

Street has only a few (somewhat enormous) houses in East Foothills

Today’s fistful of awesome in Alum Rock is brought to you by Burbed reader Tracy Tea House. Thanks very much for this foothill find!

15865 East Alta Vista Way
San Jose – East Valley, CA 95127
$499,000

120911-altavista-ziprealty3 bedroom, 1 bathroom, 1 partial bath, 1,570 square feet, Single Family
Lot Size: 15,794 Sq. Ft.
Year Built: 1950
Days on ZipRealty: 34
Listed: 08/09/12
Price/sq ft: $318
Estimated Monthly Payment: $1,737
Neighborhood: East Foothills
School District: Alum Rock Union Elementary School District, East Side Union High School District
Source: MLSListings Inc.
MLS #: 81229860
Views: 61
120911-altavista-drivewayPopularity: 8
Walk Score®: 9

Large yard w/deck & view of downtown SJ & Silicon Valley — marvelous! Newly improved driveway. Home is in move-in condition. Bonus room could be 3rd bedroom. Shows well. Level site on lot. Quiet residential hillside neighborhood is minutes away from shopping & parks. Not a through street — EAST Alta Vista Way has only a few (somewhat enormous) houses on it. Enjoy the view!

And here’s why Tracy chose this house out of thousands just for you!

Near a few enormous houses.  Truly poor photography. Value fail, great list copy.

120911-altavista-fence120911-altavista-back

120911-altavista-fireplace120911-altavista-lightlevels

What are you talking about?  This is great photography!  Do you have any idea how hard a photographer has to work to compose images like these?  Anyone can take pictures of a house, but this?  This transcends the artform by questioning its purpose.

120911-altavista-price-historyFor example, is the front of that fireplace actually carpeted?  Or is it a ginormous piece of hard candy?  Only a truly gifted photographer could make you wonder like that.

And instant equity galore!  Just check out the price history!  In no time flat the market’s going to heat up to eleven and every property price in this county will double in eleven minutes.  Yes, you read it here first.  The Real Bay Area is back, it’s booming, and it’s bettuh than evuh!

Comments (9) -- Posted by: madhaus @ 5:05 am

April 26, 2012

Alum Rock Adventure Awaits! Um… TOO LATE!

Burbed loves East San Jose, because some of the best properties can be found here.  That is, if by “best” we actually mean “Can you believe this?”  Thanks very much to Burbed reader Tracy Tea House for proving once more, that when it comes to housing, Alum Rocks!

1412 Mount Herman Drive
San Jose, CA 95127
$300,000

120425-mtherman-trulia

Status: Withdrawn
Bedrooms: 4
Bathrooms: 3
Property type: Single Family Residential
Size: 1,368 sqft
Lot: 0.12 acres
Price/sqft: $219/sqft
Year built: 1961
Added on Trulia: 180+ days ago
Neighborhood: Alum Rock
Zip: 95127

The property has been maintain by sellers. With the converted garage, you have additional living area. Lots of parking space, nice front yard, rear room converted! Brokered And Advertised By: PN Real Estate Group Listing Agent: Louis Montalvo

120425-mtherman-concrete[4]Here’s why Tracy thought you’d love this place:

Here is a shack that proves the point, interior pictures are unnecessary anymore. Now if you can just “maintain” yourself, all rooms are converted. Even the car  has been covered, and probably converted.

These photographs have so much artistry in them, and such a unique point of view. The detail shot of the concrete is inspiring me. As a bonus, you will not be able to leave the house by car twice a day. If you want to walk however, the school has crossing guards.

Now wait, this house is Special.  It has been maintain by sellers, something one rarely finds in buying a house from them.

Bunus: the reason this house was withdrawn is that it got foreclosed on April 2nd

Comments (2) -- Posted by: madhaus @ 5:04 am

April 18, 2012

What could be better than this Alum Rock house?

Thanks very much to Burbed reader sonarrat for this essential elegance in East San Jose! 

1613 ORLEANS Dr
San Jose, CA 95122
$300,000

120411-orleans-redfin

BEDS: 3
BATHS: 2
SQ. FT.: 1,283
$/SQ. FT.: $234
LOT SIZE: 5,562 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1968
COMMUNITY: Alum Rock
COUNTY: Santa Clara
MLS#: 81200318
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 98 days

nothing

There simply are no other words for how awesome this listing is.  Or exactly how much this agent is willing to do to sell it.

Comments (10) -- Posted by: madhaus @ 5:03 am