April 8, 2011

A little bit (of England) on the (Wood)side!

burbedguestblogger

 

Burbed reader sfbubblebuyer returns to the front page with another terrific find, and best of all…  It’s not in Vallejo and no hookers were lathered in cooking oil in providing this contribution. 

So let’s give another nice, warm RBA welcome to sfbubblebuyer, today’s guest blogger!




If you’ve ever wanted to pretend to have an English accent and snub the commoner Americans, this is the house for you! It’s modeled after Hampton Court in Middlesex, England! Now that’s a sexy sounding shire!

125 NORTHGATE St, Woodside, CA 94062
$12,900,000

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BEDS: 6
BATHS: 8
SQ. FT.: 16,900
$/SQ. FT.: $763
LOT SIZE: 2.87 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Tudor
STORIES: 3
VIEW: Bay
YEAR BUILT: 1934
COMMUNITY: Woodside Heights
COUNTY: San Mateo
MLS#: 81054806
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 141 days

The Buck Estate. Designed by noted architect Albert Farr, who modeled Buck after Hampton Court in Middlesex, England, a 16th century royal family residence. Brick & stucco cut stone, high Gothic arches, mullioned windows, slate roof, & bay views. Over 17,000 sq. ft. , ornate plaster details, beautiful rooms of original carved wood panelling. Truly rare & irreplaceable. Minutes from Atherton. 2.86 ac

imageYou want columns?  Tough!  WE HAVE BUTTRESSES!  Columns are for the help. 

Specifically, the help in the kitchen.  That’s right, this house is so awesome, it sends the columns to the kitchen to help hold up the cabinets.


You have to be an arch to get any play in THIS building!  And not any old arch!  Our arches are RIBBED FOR YOUR PLEASURE! 

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And as if that were not enough to get your trousers tight and your checkbook hot, we have GROIN VAULTS! (Seriously, this is called out in the listing on the virtual tour.)

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And not just one, MULTIPLE GROIN VAULTS!

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This house is a veritable REAL ESTATE ORGY! It’s turn key, and bowl-for-guest-keys, ready. But send the help to sleep in the carriage house, because things are gonna get funky in here tonight! Did I mention it’s in WOODside! Rowr!

Comments (10) -- Posted by: madhaus @ 5:05 am






April 7, 2011

Awesome Spanish Villa in San Jose

burbed guest editorHowdy again from your newest guest editor, sonarrat. Today, I’d like to talk with you a little bit about style and fashion. San Jose is known worldwide as an innovative city. We have more patents per capita than anywhere else in the world and are a Mecca for the high-tech industry. What we’re not known for, though, is having a strong cultural influence. The downtown movie theater is struggling, our music scene is fledgling at best, and for such a large city, the options for truly great dining are very limited. However, today’s house has a spark of the creative, the daring, and the unconventional. That’s why I’ve chosen to feature it today.


2052 Alameda Way, San Jose, CA 95126
$899,900


Beds: 4
Baths: 2
Sq. Ft.: 2,414
$/Sq. Ft.: $373
Lot Size: 7,498 Sq. Ft.
Property Type: Detached Single Family
Style: Spanish
Stories: 2
View: Mountains, Neighborhood
Year Built: 1925
Community: Central San Jose
County: Santa Clara
MLS#: 81112924
Source: MLSListings
Status: Active
On Redfin: 8 days

Awesome Spanish Villa. A Little of Past, A lot of Contemporary Features & Upgrades. You’ll Love to Entertain in Designer Kitchen: Solid Copper Counter Tops, Viking Professional Range, Top Custom Cabinets of Solid Honduran Mahogany, Tasteful Island of Honed Emperado Dark Marble, Shaw’s Orig. Sink (Ireland), Honed Travertine Floors. Mahogany Cased Custom Windows. .. too many features to list. Come By!


Are you excited yet? Overwhelmed? Maybe a little woozy? Let’s break this listing down. It’s a Spanish villa just steps from El Royal Road, so you know what to expect: fussy shrubberies, broad-leaved trees, windows that will cost more to replace than your BMW, and, of course, a white deer. Fascinating. In terms of old-world touches, we have a throwback to the 1800′s in the form of a copper countertop. In France, hammered copper used to be quite a favored material in the kitchen. It was cheap and easy to mold using simple hand tools; no hot work was required. However, one does have to question the utilitarian value and the durability of a polished copper counter. Will it turn green like an old penny? Not to matter: the impermanence of the material is part of its character.

Despite the name, most Honduran mahogany is now harvested from South Asia due to the American market being crippled by restrictions in the 1990s. This Fijian Honduran mahogany contrasts boldly with the yellow, white, stainless steel, cream, marble, glass, and darker woods in the kitchen. You may call it confused; I call it inspired.


Unfortunately, while the bathroom begs an explanation – that sink appears to be perfectly shaped so that the door won’t hit it – the listing agent decided to stop listing features at this point. In fact, he neglected to mention the house’s best feature, so I’d like to just point it out: you don’t have to keep this wonderful house all to yourself. In fact, the whole wide world comes right to your backyard. What better way to inspire a new generation of San Joseans to follow you off the beaten path than to put your individuality on display? I salute you, house!

Comments (18) -- Posted by: sonarrat @ 5:00 am

March 28, 2011

There was one room in her house that was always kept locked… It was the garage!

Thanks very much to Burbed reader nomadic for finding this fascinating property that is today’s featured house. 

956 TERRA BELLA Ave, San Jose, CA 95125
$2,475,000

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BEDS: 5
BATHS: 4
SQ. FT.: 5,000
$/SQ. FT.: $495
LOT SIZE: 0.36 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Tudor
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 2001
COMMUNITY: Willow Glen
COUNTY: Santa Clara
MLS#: 81103858
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 59 days

Custom Tudor estate close to downtown Willow Glen restaurants and shops! Formal entry has 28’ceilings, red oak hardwood floors, dramatic chandelier, formal spiral staircase. Formal dining/living rooms with wet bar over sized fireplace. Epicurean granite kitchen has top quality appliances. Expansive 2,000sf game room and 7 tandem car garage. Backyard with granite outdoor kitchen! And SO much more!

Here’s what nomadic had to say about this house:

I was checking out the most expensive houses in Willow Glen, wondering "who in their right mind would spend $2.5M to live there?"  Then I found this house.  This house has a seven car tandem garage.  It is two cars wide.  Check out the satellite view.  A house perfect for the car collector who doesn’t like to enjoy their cars and just keeps them in the garage all of the time.

Okay, check out the satellite view we shall!

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Looks like the garage is the same size as the entire house.  Somebody had their priorities straight.  And I must say, a seven car tandem garage is pretty amusing, especially because the agent called it a “7 tandem car garage.”  Plus it’s got granite, both inside and outside, so you can have that bubbly mid-oughties feel.  But there’s a bonus in today’s feature, one I am very excited about.  I am so delighted because I get to break out the red arrows again!

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Look, everyone, it’s the return of the MAWBUL KAWLUM.  Even in this master bedroom picture, there are all kinds of KAWLUM-like objects.

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And the rooms that spared themselves KAWLUMnosity are almost as silly.  Like the dining room where the swag matches the built-in cabinets and the picture frame.

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Or the wine cellar.  Nothing says grapes aged to perfection like halogen track lighting and both walls and ceiling painted to match Campbell’s Cream of Tomato Soup.

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imageAnd what is that in the backyard at the right rear?  Looks like the covered wagon was left in place, to remind them of their pioneer roots. And they value their history so deeply they’d leave that hayseed dispenser on the grounds despite destroying the entire house and erecting this neo-Tudor with a bunch of fourdoors in the tandem garage.  There’s just the littlest hint of that 7 car garage in the upper left, showing how far they’ve come from horse-drawn farm vehicles.

Update: nomadic found the link to the virtual tour, so enjoy the 7 tandem car garage!

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And a “bunus” picture FTW:

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Comments (57) -- Posted by: madhaus @ 5:12 am

March 27, 2011

Foreigner with Huge Suitcase of Cash is Real

One of the recurring arguments for Real Bay Area (RBA) prices to never go down is that even if the local economy is in the tank, prices will be pushed back up by foreigners with suitcases full of cash.  Yeah, the idea has become a bit of a joke meme on Burbed, but looks like it has a kernel of truth.

Thanks to Burbed readers nomadic and Perfect Angel for sending this one in.

Mystery surrounds buyer of hilltop mansion in Los Altos Hills

By Pete Carey, San Jose Mercury News

Posted: 03/24/2011 03:30:25 PM PDT, Updated: 03/25/2011 11:30:02 AM PDT

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Satellite view of the home on La Paloma Road in Los Altos Hills.

Someone paid $75 million last month for a 25,500-square-foot mansion in Los Altos Hills — complete with its own carwash — the biggest price tag for a house in Santa Clara County history. The big mystery is who.

What is known is that the buyer is La Paloma Property, according to county records. That is a limited liability company registered in Delaware, where business laws protect the identities of the principals in companies and partnerships.

The blog TechCrunch quoted “multiple sources” saying the buyer was Yuri Milner, the Russian venture investor who founded the investment fund Digital Sky Technologies, now known as DST Global.

Milner, a former particle physics graduate student, has made a splash in Silicon Valley with large investments in Facebook, Zynga and Groupon. And he’s been shopping for a home in Silicon Valley, real estate agents said.

Wow, who knew the Merc was still such a digital dinosaur?  I mean, seriously, how difficult would it have been for them to link to the TechCrunch article?  Yeah, it’s a little thin, but it’s got an angled overview of the house and it also says Milner isn’t planning on living there much anyway.

TechCrunch and the Merc didn’t print the address, but we will, because this is a housing blog.  This metastasized monstrosity is at 13310 La Paloma Road, Los Altos Hills.  Redfin only details the 1997 sale for $5.3 million, which was before the house in question was built.  The 2009 property tax bill lists the site valued at around $4M for land and $21M for additions, with a total bill of $200,644.

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The house and 11 acre parcel belonged to Fred Chan, founder of Fremont-based ESS Technology, and was held under Evershine III.  The 5-bedroom, 9 bath house, when construction began in 2003, was going to be the largest private home in the county.  Assessor info says the house was built/renovated in 2009, which means planning and construction took six years from start to finish. Again, the Mercury news says they covered the home groundbreaking, but couldn’t be bothered to link to its old article (no doubt only available as a for-sale-from-our-archive item).  Looks like Chan found a place he liked better: the largest waterfront property in Oahu.

imageWhile some sources claimed the purchaser was not Yuri Milner, the Merc has followed up on its on story and said Milner is definitely the February 3rd buyer of the property.  Milner’s spokesman Leonid Solovyev did deny that pre-IPO shares of Facebook, or any other stocks were used to pay for the home that Milner doesn’t plan to live in much.

Looks like we’re back to the really big suitcase full of cash.

But if Milner doesn’t plan on living there much, maybe he could rent the place out when he’s elsewhere.  Zillow’s rent Zestimate is $4301 a month, which seems a touch low.  I’m sure he could get the upper end of the range, which is $2200-8600 a month.

Comments (64) -- Posted by: madhaus @ 5:28 am

March 15, 2011

YEARS WERE EXSPENDED… OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS

Yet another terrific find came up in comments.  Our thanks to Burbed reader Tuno for finding this… indescribable property, where thought, labor and love… couldn’t come up with a copywriter who could pass high school English.

2544 Butch Dr, Gilroy, CA 95020
$4,999,000

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BEDS: 6
BATHS: 9.5
SQ. FT.: 10,300
$/SQ. FT.: $485
LOT SIZE: 10.21 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Mediterranean
STORIES: 3
VIEW: Mountains, Valley, City Lights
YEAR BUILT: 1991
COMMUNITY: Morgan Hill/Gilroy/San Martin
COUNTY: Santa Clara
MLS#: 81105945
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 19 days

TASTEFUL ELEGANCE & QUALITY BEST DESCRIBE THIS TRULY UNRIVALED ESTATE SETTING!YEARS WERE EXSPENDED WITH THOUGHT, LABOR & LOVE TO COMPLETE THIS OWNERS VISION OF THE ULTIMATE EQUESTRIAN ESTATE * OVER 10,000SF OF LUXURY LIVING W ATTCHED AU PAIR QRT * OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS W CUSTOM POOL & OUTDOOR KITCHEN * ADJOINING 10AC PARCEL BOASTS A 1ST CLASS EQUESTRIAN FACILITY W 8STALL

Here’s what Tuno had to say about this, um, listing:

pretty incredible, esp. for Gilroy

Then Burbed reader nomadic nails it:

The first pic look straight out of a Shrek cartoon.

imageToo bad this owner EXSPENDED so many YEARS with THOUGHT, LABOR and LOVE, because this property is the OWNERS VISION OF THE ULTIMATE EQUESTRIAN ESTATE.  Perhaps it would be yours too? 

As featured in the most recent Thomas Kinkade, Painter of Light, gallery tour of East Tracy.  I think that means he doesn’t use very much paint.  Like just one coat.

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Maybe the exterior is by Kinkade, but this staircase at right was obviously designed by M.C. Escher.  They could have used something like this in Inception to keep the assassins from finding them so fast.  Also wouldn’t it be great to see a freight train knock down that statue?

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Oh dear, is that… our first sighting of… that hallmark of CLASS and KULCHUCH?  It’s hiding in the back left.

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No I must have imagined it.  Nothing but overdone French provincial dining set, probably not even included with the house.

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YESSSSS!!!!!!!  MAWBUL KAWLUMS!!!!!  FTW!!!!

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A sky you can’t believe in.  They must have had Kinkade paint that too.

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The horse facility is actually better than most of the houses we feature, although that really isn’t saying much.  W 8STALL.  But remember, this is on the ADJOINING 10AC PARCEL.

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All set to put in a vineyard… as long as you can come up with about four million acre feet of water.  And once you do, then you’ll have your RESORT LIKE OAIS.

Comments (16) -- Posted by: madhaus @ 5:15 am

March 9, 2011

Palo Alto house perfect for twitter and facebook employees

$3,288,000

Beds: 9
Baths: 6.5
Sq. Ft.: 4,627
$/Sq. Ft.: $711
Lot Size: 8,070 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary, French, Mediterranean
Stories: 3
View: Mountains, Neighborhood
Year Built: 2006
Community: Midtown
County: Santa Clara
MLS#: 81105993
Source: MLSListings
Status: ActiveThis listing is for sale and the sellers are accepting offers.
On Redfin: 12 days
VERY NEW/ BEAUTIFUL 9 BD/6.5 BA; GREAT 4 TODAY’s LIFE/ENTERTAINMENT; PRIME LOCATION/QUIET 2Side CueDeSac ST; LOTS NEW HOUSE AROUND; FUNCTIONAL/FLEXIBLE FLR PLAN/RMs; 2 PRKG W 400 SF; GOMT KITCHEN; MASTERBR W SIT RM; TOPLINE MTL/APPLICANCES; THEATRE/DANCNG FLR; SAUNA; BAR; GYM, GAME RM; WINE C; LOTS FEATURES; HG CEILING; 2 GREAT ROOM/2 LAUNDRY; GRAND/BRIGHT/DETAILS; BIG FRONT/BACK YARD W PATIO/TRILLIS

Thanks to Burbed reader M for this find!

Here’s what M had to say:

I know we aren’t supposed to discuss the city which cannot be named, but this house is just so perfect.

http://www.mlslistings.com/2577-RAMONA-ST-Palo-Alto-CA~i19$1013434$RES

Love the agent’s grammar. He will make just $100,000 on this sale, so he clearly can’t afford keyboard that doesn’t produce all caps. Oops, there are a couple of words in there that aren’t, like "QUIET 2Side CueDeSac". What exactly is a CueDeSac? I’m guessing either a place to store your custom-made pool sticks, or a bag that hold
s your signals to go on stage. No matter, this house has LOTS FEATURES and is GREAT 4 TODAY’s LIFE/ENTERTAINMENT. Hey, there is also a "TRILLIS", which must mean something that supports the piano flourishes your little snowflakes can play. With nine bedrooms, everyone in a family of nine can have their own bedroom with one left over for the in-laws.

I’m sure many people want to cook in a GOMT KITCHEN, no matter if it actually contains TOPLINE MTL or APPLIANCES.

Never had a sale since it was new in 2006. I guess it isn’t one of the LOTS NEW HOUSE AROUND. At this rate, it’s going to be Old Palo Alto without ever being lived in. Buy it now or be priced out forever!

Dude this house is totally aimed at all the Facebookers and Twitterers who are about to become rich! Know your customer! Speak their language! Shrt is betr. Drp lttrs to sv spce. TL;DR.

Comments (43) -- Posted by: burbed @ 5:00 am

February 25, 2011

Serf’s Up in Redwood City!

Sometimes Burbed readers find a great house to share but can’t wait for us to write it up, post it and finally have it appear.  After all, we only post one house per weekday.  So instead they post the house to comments, and then we think, dang!  That’s such a terrific find, if only they’d sent to us for a write-up.  And sometimes we think, oh hell, we’ll write it up anyway!  So, you may have seen this before, but it’s getting the Full Burby!  Our thanks to Burbed reader Tuno for this insightful look at socioeconomic disparity.

Remember, if you prefer the element of surprise, you can always send listings and contributions to either burbed or madhaus (at) burbed.com.

367 Alameda de las Pulgas, Redwood City, CA 94062
$509,000

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BEDS: 2
BATHS: 1
SQ. FT.: 750
$/SQ. FT.: $679
LOT SIZE: 0.25 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Cabin
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1926
COMMUNITY: Cordilleras Heights
COUNTY: San Mateo
MLS#: 81100851
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 43 days

Bank Owned Home located in one of the most desirable areas of upper Redwood City. This home offers 2 bedrooms, 1 bath, kitchen and living / dining room combo. The lot size is approximately . 25 acres. This home has great potential. Seller is extremely motivated – all reasonable offers welcomed.

Here’s what Tuno had to say about the house:

this is one of my favorite houses at the moment, because it is a perfect Serf House.  if you go to street view and look at it (you may have to scroll up the road a little), it looks like an ordinary very modest little house.  then turn around and see what is across the street.  Presto  -  you can be the live-out serf!!!
the house across the street may not be as magnificant as your examples, madhaus, but *they* don’t include serf huts.

Well, we’d best take a look at that Street View and see what Tuno is talking about!  Here’s the so-called Serf House we’re featuring today.

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Not many Street View photos manage to fit three different houses on three different lots into one picture, but this one did it!  Wondering how?  Have a gander at those lot lines!

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Hey, let’s have that peek at the house across the street, because its profile is wider than it is deep.

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Whoa!  The other place had both neighbors elbowing their way into the picture, but this housing tumor just crowds the lens!  After looking at this across-the-street view, you’ll feel like you live in picture #9 from the listing:

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They’ve even left the door open for you!  Maybe the current live-out serf is hard at work threshing the wheat.  No wonder the seller is extremely motivated!

Comments (18) -- Posted by: madhaus @ 5:06 am

January 16, 2011

More Haircutting While Chasing the Market Down

Last Sunday we looked at a feature from Zillow Blog: ten expensive home sales in 2010 from all around the country (but NOT the Real Bay Area).  Today we take another look at more hideously high-priced homes across the nation, only these 12 housing tumors still haven’t sold.

This Luxist article ranks the lucky nominees by price reduction in dollars (not percentages) taken along the way.  I put the listings in the correct order (the blogger had one in the wrong place), and added one more property that came out on Luxist after the list was published.

Best of all, we have a San Francisco entry this time, so we’ll take an extra good look at that offering.  Even in the RBA it’s possible to overprice something.

<img missing due to burbed’s terrible admin skills. working on restoring>#1: Albermarle House Charlottesville, VA

Original Asking Price: $100 million (October 2009)

Reduced Asking Price: $48 million (February 2010)

Current Asking Price: $24 million

Haircut So Far: –76% ($76 million)

This behemoth in the Blue Ridge Mountains has 25,000 square feet, 45 rooms (including 8 bedrooms and 13 baths), but all the furniture and art has already been auctioned off, so sorry!  The 907 acre grounds include the Kluge Estate Winery and Vineyards (and that is also on the block).  Even places like this can get foreclosed on, but their loss is your gain!

<img missing due to burbed’s terrible admin skills. working on restoring>#2: Henry T. Sloan Mansion – New York, NY

Original Asking Price: $64 million (January 2008)

Current Asking Price: $39 million (November 2009)

Haircut So Far: –39% ($25 million)

6 FL, 18267 SF, 15 BR/17 BA, 11 FP, 18 E 68th @5th, TAXES $79K, MAKE OFFER, SELLER DESPERATE.

“The owners have a real need to sell in the first quarter of next year, or sooner,” said Lawrence J. Selevan of Chesterfield Faring, a financial adviser to the owners. “They need to raise the capital to take care of other issues.” – New York Observer, 11/10/09

The current FBs bought their property for $20 million in 2007, then bought out all the tenants, one by one, for another $11 million, so they could turn the apartment building back into a townhouse.  The F-word has already been used and lis pendens was filed last January.  This property has the distinction of being on the 2009 list as well.

<img missing due to burbed’s terrible admin skills. working on restoring>#3. Museum Tower Penthouse – San Francisco, CA

Original Asking Price: $70 million (August 2008)

Current Asking Price: $49 million (November 2008)

Haircut so far: –30% ($21 million)

Many properties have their own website when they go up for sale, but few use a description rather than an address: Museum Tower Penthouse.  You won’t find this place on the MLS, either.  But you will find it on the map, and Third and Minna doesn’t look like the RBA part of San Francisco.

<img missing due to burbed’s terrible admin skills. working on restoring>

<img missing due to burbed’s terrible admin skills. working on restoring>The owner doesn’t seem to be in much of a hurry to sell, with the price not budging in more than a year.  But this is not only the most expensive condominium in San Francisco, it may be the most expensive apartment anywhere, and $49M is one of the highest asking prices for any property in SF.

Then again, not many of those other properties are 20,000 square feet.  That includes 2900 sf over four terraces, a 2500 sf master suite, 5 other bedrooms, 7 total full bathrooms and 4 half baths, four fireplaces, a 13-seat cinema, an office with conference room, and parking for six cars.

According the Chronicle piece linked above, the owner lives for the most part in Hillsborough, so you may want to think about getting a country house in addition to this little pied-à-terre.  Perhaps your buyers’ agent can get you some kind of buy one, get one half off discount.

<img missing due to burbed’s terrible admin skills. working on restoring>#4: Porcupine Creek – Rancho Mirage, CA

Original Asking Price: $75 million (March 2010)

Current Asking Price: $55 million (August 2010)

Haircut So Far: –23% ($20 million)

This resort masquerading as a private residence sits on 249 acres, 248 of which are a golf course.  The 18,400 sf metastasized mansion with 16 bedrooms isn’t large enough for visitors, as the lot boasts eight two bedroom guest houses as well.  The Yellowstone Club is selling (or should we say liquidating) to meet their creditors’ demands, and the bankruptcy court in Montana must approve your offer.  Divorce and lawsuits seem to be the cause.  Aren’t they always?

This home was originally ranked #2 on the list.  Why the author thought $20 million was more than $25 million is left as an exercise to the reader.

<img missing due to burbed’s terrible admin skills. working on restoring>#5. Rocky Oaks Estate – Malibu, CA

Original Asking Price: $65 million (October 2009)

Current Asking Price: $49 million (November 2010)

Haircut so far: –25% ($16 million)

This 5 BR/5 BA hilltop lookout encompasses 37 acres, with not one foot of beachfront.  Kind of defeats having that Malibu address, doesn’t it?  As a consolation prize, you get a vineyard.  HUGE PRICE REDUCTION!  Only on market 459 days!  HURRY, THIS ONE WON’T LAST.

<img missing due to burbed’s terrible admin skills. working on restoring>#6. Val Kilmer’s Pecos River Ranch  – 30 miles east of Santa Fe, NM

Original Asking Price: $33 million (early 2009)

Reduced Asking Price: $23 million (October 2010)

Current Asking Price: $18.5 million CASH (January, 2011)

Haircut so far: –46% ($14.5 million)

Even the website heading has Val Kilmer as part of the title.  And what a ranch, 5200 acres plus an additional 640 acres of grazing rights, right in the middle of the homicide capital of the Southwest.  The sales conditions are spelled right out here: you get all furnishings and appliances not owned by employees or reserved by seller.  That could mean none of them.  You get all the mineral rights not previous reserved – oops, same loophole.  In addition to the land you also get a 5500 sf main house with 4 bedrooms, 4 baths, 2 living rooms, and, get this: 2 kitchens.  You also get 2 guest houses, a manager’s house, and the usual equestrian facilities.

Just for grins, the IRS has a half a million dollar lien on the property.  And for another knee-slapper, Kilmer put the property up last October on Craigslist.  Final indignity: In 2006, Kilmer attempted to sell an 1800 acre parcel of the ranch, or a bit less than a third of it, for… $18 million.

<img missing due to burbed’s terrible admin skills. working on restoring>#7. Michael Jackson’s Rented House – Holmby Hills (Los Angeles), CA

Original Asking Price: $38 million (April 2008)

Reduced Asking Price: $28,995,000(August 2010)

Current Asking Price: $23.5 million (October 2010)

Haircut so far: –46% ($14.5 million)

Yes, MJ was the tenant here, not the owner.  It’s just your basic 17,100 square foot 7 BR/13 BA French Chateau designed by Richard Landry off Sunset Boulevard.  Has the usual guest house and private cinema.  Ho hum.  Last sold for $18.5 million in 2004, and may very well sell for something a lot closer to that.

<img missing due to burbed’s terrible admin skills. working on restoring>#8. The Razor – La Jolla, CA

Original Asking Price: $39 million (May 2008)

Reduced Asking Prices: $32 million(August 2010), $28.5 million (June 2009)

Current Asking Price: $25 million (February 2010)

Haircut so far: –36% ($14 million)

Perhaps the only home on the list with any architectural interest, The Razor was designed by Wallace E. Cunningham, with floor-to-ceiling windows set to take in the ocean views.  It’s 11,000 square feet, with 4 bedrooms, 5 baths, an 8 car garage and the obligatory guest house, set on 3/4 of an acre.  It also has a private entrance to Black’s Beach.

This is the extra house discovered Tuesday, after Luxist already published their 11 price cuts piece.

<img missing due to burbed’s terrible admin skills. working on restoring>#9. Sea Lane Drive – Malibu, CA

Original Asking Price: $55 million (July 2010)

Current Asking Price: $45 million (December 2010)

Haircut so far: –18% ($10 million)

Never mind the 11,000 sf house with 7 bedrooms, 8.5 baths, guest house, theater.  Yawn.  Forget that it’s on 6.2 acres.  Meh.  No, this insane price is for the 339 feet of Malibu beachfront.

Do you know who this house belonged to?  Max Palevsky.  He died in May, so the house is for sale.  He founded some snack company that made chips.  They even have an office in Santa Clara!

<img missing due to burbed’s terrible admin skills. working on restoring>#10. The Webb Project – Montecito, CA

Original Asking Price: $42.5 million (August 2010)

Current Asking Price: $32.5 million

Haircut so far: –24% ($10 million)

Yet another 6 BR/8.5 BA house with theater, guest house, and two three-car garages on five acres. Enough, already. Enough.

Its address seems to be 000 East Mountain Dr.  Can any of you sleuths find the date the price got reduced?  I’m having no luck with Redfin, which I like for its price history section. This is the only listing where I couldn’t get dates from either Redfin or real estate blogs.  It was still $42.5 million this October, from my one hit on a Montecito site.

<img missing due to burbed’s terrible admin skills. working on restoring>#11. Flying Dog Ranch – Woody Creek, CO

Original Asking Price: $56 million (July 2009)

Current Asking Price: $46.2 million (October 2010)

Haircut so far: –18% ($9.8 million)

245 acres, next to National Forest, and close to Aspen.  Other than 11,000 sf, 9 bedrooms, 7 baths, there’s next to no details about the house. The value really is in the land, and the seller assumes the interest is only in the land, too.

<img missing due to burbed’s terrible admin skills. working on restoring>#12. Villa Colina – Knoxville, TN

Original Asking Price: $21 million (June 2010)

Reduced Asking Price: $19 million (September 2010)

Current Asking Price: $12.5 million (November 2010)

Haircut so far: –40% ($8.5 million)

You get so much more for your money once you leave the coastal nexus of CA-NY-DC-FL.  You lose so much less when you can’t sell it, too.  Percentage-wise, though, you may take a pounding.

If you can figure out why someone built an Italian Villa in Knoxville, Tennessee, then you’ll can figure out how to sell it to the next victim, too.  This effronterous edifice is 37,000 square feet.  That’s right, it’s almost an acre of house, with 8 bedrooms and 11 bathrooms.  The garage has room for 5 cars.  Just like those Southern California ego trips, it boasts a guest house and a cinema.

And speaking of Things One Really Doesn’t Need In Tennessee, this house comes with… a doorman?  The buyer should send him to property #2 where he’ll feel more at home.

Comments (6) -- Posted by: madhaus @ 5:03 am

January 12, 2011

Most Expensive Sale 2010 – Santa Clara County

Yesterday we showcased the most expensive sale last year in San Mateo County, a $15M property in Woodside.  Can Santa Clara beat that?  Yes we can! But only if we count the sale of a mobile home park.  If we want to stick to single-family houses, the answer is NO WAY, SAN JOSE.

16331 Matilija Dr, Los Gatos, CA 95030

Sold on 06/15/2010: $10,000,000

<img missing due to burbed’s terrible admin skills. working on restoring>

BEDS: 6
BATHS: 7.5
FINISHED SQFT: 11,616
UNFINISHED SQFT: 3,075
TOTAL SQFT: 14,691
FLOORS: 2
LOT SIZE: 82,328
STYLE: Single Family Residential
YEAR BUILT: 2001
YEAR RENOVATED: 2001
COUNTY: Santa Clara County
APN: 51030027
LAST UPDATED: August 26, 2010

<img missing due to burbed’s terrible admin skills. working on restoring>

Alas, the original sales description and images are gone.  But check this out.  Looks like the asking price on this megamansion was once $14,900,000.  And it has the agent’s description (even if the pictures are gone), so let’s enjoy what they were so eager to hide:

MEDITERRANEAN INSPIRED VILLA BY MEHUS CONSTR-NEARLY 2 AC OF FORMAL HILLTOP LAWNS,TERRACES&COURTYARDS-BELOW REPLACEMENT COST-TRUE GRAND ESTATE VIEWS FROM SF TO SO. VALLEY-ARTESIAN WORKMANSHIP-NOTHING SPARRED-FINEST QUALITY-MUST SEE

Wow.  Artesian workmanship.  So there should be deep and narrow wells all over the property – or the construction crew came from France. And nothing was sparred.  Glad they weren’t fighting while installing all those tiles on the roof.  Although if the house was really “below replacement cost” at $14.9M, there was probably a lot of fighting when it sold for ten million with that 33% haircut.

Also I’m going to call shenanigans on “below replacement cost,” since tax records say additions are valued at $5.2 million. This house is ten years old, not a hundred. Maybe you can convert a garage into a couple of bedrooms without anyone noticing (until you try to sell the place), but there’s no way the FB put up a quarter acre worth of house and “forgot” to file construction permits.  That addition value shouldn’t be too far out of line with actual building costs.

If we ranked the homes on Sunday’s Zillow list by how much of a discount off original asking price they sold for, this Los Gatos hyperhouse that takes up more floor area than some strip malls would be tied for fifth place.  No question about it, Los Gatos has an insanely overpriced, oversized home smacked down by market forces.  Booyah!

Comments (13) -- Posted by: madhaus @ 5:05 am

December 30, 2010

BIG Clearance Sale – Los Gatos

When the banks say everything must go, they really mean everything, including this big, big, big deal.  Thanks to Burbed reader nomadic for today’s amazing offer.

18157 Wagner Rd, Los Gatos, CA 95032
$7,695,000

image

Beds: 5
Baths: 6
Sq. Ft.: 7,035
$/Sq. Ft.: $1,094
Lot Size: 25 Acres
Property Type: Detached Single Family
Style: Contemporary, Mediterranean
Stories: 2
View: Green Belt, Mountains, Canyon, Neighborhood, Valley, City Lights
Year Built: 1999
Community: Los Gatos/Monte Sereno
County: Santa Clara
MLS#: 81051721
Source: MLSListings
Status: Active
On Redfin: 62 days

COMPLETELY REMODELED TUSCAN ESTATE ON 25 SPECTACULAR VIEW ACRES * SEPARATE 10 ACRE PARCEL IS IDEAL TO BUILD A SECOND ESTATE OR VINEYARD * EXQUISITE DETAILS INCLUDE NEW EXTERIOR FINISHES, PLASTER WALLS, INFINITY EDGED POOL, NEW LUSH LANDSCAPING, NEW DESIGNER BATHROOMS, AND STUNNING HARDWOOD & TRAVERTINE FLOORING * MINUTES TO DOWNTOWN & HWY 85 * DISTINGUISHED LOS GATOS SCHOOLS * OVER 7,035 SQFT OF LUXURY & PRIVACY

Such a BIG deal the agent put everything in CAPITAL LETTERS so you can pick up his URGENCY.  HURRY, HURRY, HURRY, it’s only been listed 62 days.

imageHere’s what nomadic had to say about this listing:

Look at the confusing history on this house.  The old listings bounce between 15 and 25 acres.  There are two parcels apparently, but with the foreclosures I’m surprised they would have continued to be owned by the same entity.  The prices are all over the place too.

image Wait, multiple foreclosures?  One at $3,367,000 and another at $4,155,534, within two weeks of each other?  Plus four sales within two months during the bubble, between an individual, a relative, a limited liability corporation, and a living trust (and that’s before the banks got involved)?  Is it a house or is it a hot potato?  Don’t know, but it’s (they’ve?) been listed on MLS no less than fourteen times since it was built eleven years ago.

image

 

The listing and sales record is so long it has 42 entries in it.  Head over to Redfin and take it all in there.

One great thing about buying this house: You will definitely get to decide what color you want your walls painted.  Is there anything sadder than a ginormous custom home full of abandoned equipment because the owner ran out of money?  There’s definitely a story here, but you don’t need to hear it.  You just need to take this property off the bank’s books cheap, and pick out some paint.

Comments (17) -- Posted by: madhaus @ 4:57 am