December 7, 2011

A Whole Lot of Nothing in San Jose!

Remember all those listings that said “value is in the land”?  Burbed reader Swan has sent in a parcel that’s going to stress-test that theory.  Thanks a “lot” Swan!

0 PEACHTREE Ln (Unable to map), San Jose, CA 95128
$298,000

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BEDS: –
BATHS: –
SQ. FT.: –
LOT SIZE: 7,560 Sq. Ft.
PROPERTY TYPE: Residential Land (Single Family)
COMMUNITY: Santa Clara
COUNTY: Santa Clara
MLS#: 81119634
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 215 days

To be sold with Lot 274-35-075 Approx 11,600 sf total. Price is for both parcels. ADDRESS SHOULD BE 0 CHERRYSTONE DR. ACCESS TO PARCELS IS FROM THE CORNER OF BASCOM AVE & CHERRYSTONE DR. PARCEL 2 IS BEHIND PARCEL 1 THRU CHAIN LINK FENCE.

imageHere’s why Swan sent this vacant lot in:

This is a lot for sale in my neighborhood.  The map link on the agent’s website does not take you to the correct location.  Use Google Maps to map 2012 Cherrystone, San Jose 95128The lot is next to the home, right along Bascom Ave.  It’s a very long and skinny lot. 

First, I can’t imagine anyone paying $298K for this though it does have *easy freeway access.*  Second, the lot is 7500 square feet which is decent for our neighborhood, but I have no idea how you’d fit a house on this lot!

Nonsense, this is a fantastic opportunity.  These parcels are in the thick of the teeming vitality that makes Silicon Valley such a Special place to live!  Nothing could be finer than this location, location, location! 

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And wouldn’t you love to live on the corner of Cherrystone and Bascom, so convenient to the freeway!  Why hasn’t this been snapped up ages ago?  It includes a CHAIN LINK FENCE.

imageDon’t worry that the agent put the wrong address for the parcel into MLS and “corrected” it in the listing copy.  That way it’s a secret private deal, just for you, or only those “in the know” who use Google.  Kind of the way 0 Peachtree is a secret, private lot. 

Maybe this listing is like the Mountain View three for one on Monday.  In today’s case, it’s a BOGO.  Or a BOGZ.  Or if we label it for locality, since it’s in the United States, a BOG-US.

Comments (9) -- Posted by: madhaus @ 5:09 am






December 6, 2011

A Scary Time in San Mateo

Here’s a great find from Burbed reader Tracy, in sunny, I mean spooky San Mateo!  Ooooooooo!

210 N IDAHO St, San Mateo, CA 94401
$495,000

image

BEDS: 2
BATHS: 1
SQ. FT.: 770
$/SQ. FT.: $643
LOT SIZE: 4,000 Sq. Ft.
PROPERTY TYPE: Attached Single Family
STYLE: Contemporary
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1951
COMMUNITY: Eastern Addition/Downtown Area
COUNTY: San Mateo
MLS#: 81105556
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 301 days

CLEAN AND WELL MAINTAINED HOME. GARAGE CONVERTED WITHOUT PERMITS.

One photo, one line of copy, and the truth about the garage conversion!  What more could you want, other than a better look at the house in the daytime…

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Gorgeous!  And maybe a look around the neighborhood…

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Yeah!  What’s not to like for half a million dollars?  All this and an honest agent, too!  You should be kissing this seller’s feet and offering $600,000!

Comments (20) -- Posted by: madhaus @ 5:02 am

BLACK FRIDAY DEALS: Cheapest House in Santa Clara!

We’ve done with our whirlwind tour of the cheapest home in every Bay Area County (plus Santa Cruz).  But what about our favorite cities?  We can’t leave them without a big ol’ Burbed hug! 

Go West, young man, west of San Jose over to the delightful city of Santa Clara!  Don’t get lost, now, because when you go West in San Jose, that means taking 101 or 280 NORTH.  But don’t actually go North.  You’ll end up in Alviso, and we’re headed there another day.

Today: The Mission City!  Tomorrow: The World!  Muhahahaha!

1647 LAFAYETTE St, Santa Clara, CA 95050

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BEDS: 2
BATHS: 1
SQ. FT.: 988
$/SQ. FT.: $302
LOT SIZE: 9,000 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 1
YEAR BUILT: 1920
COMMUNITY: Santa Clara
COUNTY: Santa Clara
MLS#: 81144289
SOURCE: MLSListings
STATUS: Pending With Release
ON REDFIN: 47 days

Short Sale As Is with only one Lender. Nice floor plan with a large back yard. This charming home is a fixer upper, located in a central location of Santa Clara. Easy access to highways, Santa Clara University and within walking distance to the surrounding business places, shops & restaurants.

Don’t let that Pending status worry you, it’s Pending With Release!  That means you can slip in a non-contingent offer, even better if it’s all-cash.  But don’t plan on getting to see the inside until you take possession.  Here’s another view courtesy of Google.

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And when the agent said centrally located, she wasn’t kidding!

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Sold for $474K in 2003, that’s $175K in instant equity waiting for you!

Comments (4) -- Posted by: madhaus @ 4:06 am

December 5, 2011

Three for One Special in Mountain View

Did you ever shop at a warehouse club and have to buy three of something when one was all you needed?  This listing, sent in by Burbed reader Petsmart Groomer, will make you feel like you’re caught in the gloomy caverns of Costco.  Only it’s real estate, so it will cost more than $200 to pass GOogle.

This may be the cheapest house in Mountain View, if you buy in bulk!

674 WILLOWGATE St, Mountain View, CA 94043
$1,250,000

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BEDS: 6
BATHS: 3
SQ. FT.: 720
$/SQ. FT.: $1,736
LOT SIZE: 0.32 Acres
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1965
COMMUNITY: North Shoreline
COUNTY: Santa Clara
MLS#: 81112528
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 256 days

THREE 2 BEDROOM 1 BATH HOMES ALL UPDATED IN WALKING DISTANCE TO DOWNTOWN MOUNTAIN VIEW. ALL HOMES HAVE THERE OWN GARAGES. AMPLE INVESTMENT OPPORTUNITIES . MATURE LAND CONVENIENTLY LOCATED TO CENTRAL EXPY AND 85 YET STILL PRIVATE. LIVE HERE AND RENT OUT OR RENT OUT ALL 3 ENJOY THE LOCAL TRAILS AT DAY & DINE DOWNTOWN AT NIGHT. BUYER TO VERIFY SF. EXPENSES BASED UPON SELLERS EST.

imageTake that, Palo Alto!  This place is listed at a whopping $1736 a square foot!  In your dreams beating this one!

I can’t understand why these bargain has been wasting away on Redfin for so long?  Three different houses, if you get tired of one, then move into another one!  Rent out one, two, or all 3!

Haven’t you always wanted to be a slumlord?  This is your chance to get in at the ground level.

And talk about location, location, location?  Just steps away from the train station!

image

You’re going to have to step across Central Expressway, but that will get you into great shape fast!

Comments (15) -- Posted by: madhaus @ 5:08 am

November 30, 2011

tiki hut with tropical look and feel

Today we have a short but sweet guest post from z2amiller!  It’s another luscious listing in the location, location, location land of Mountain View, but this time z left the confines of the immediate neighborhood and found us something even better.

Unfortunately it was sent over the transom as a PowerPoint slide deck.  Given how close this house is to a thriving commercial district, you should be jumping on it as a Web 3.0 opportunity.

Please give z2amiller a big, warm and profitable Real Bay Area welcome as today’s Guest Blogger!


911 BORANDA Ave Unit A, Mountain View, CA 94040
$594,500

image

BEDS: 2
BATHS: 1
SQ. FT.: 523
$/SQ. FT.: $1,137
LOT SIZE: 3,160 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Cottage/Bungalow
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1900
COMMUNITY: Miramonte
COUNTY: Santa Clara
MLS#: 81144771
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 39 days

Cute cottage style bungalow with nice size backyard. .. tiki hut with tropical look and feel. .. perfect for entertaining. Property is walking distance to downtown Mountain View. Gorgeous kitchen, with cherry wood cabinets, newer stainless steel appliances, granite counter tops, and beautiful hardwood floors.

This one made me WTFOL (WTF out loud): @ ~600K

  • 523 sqft (Not counting the tiki hut! Tiki hut?)
  • 523 sqft house with a $100K kitchen (stainless steel, granite, cherry cabinets)
  • Bedroom Desk (picture 7, with laptop) is a Costco steel wire rack – with 523sqft you have to think vertically!

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  • Okay actually the tiki hut is kind of awesome (photos 11-14)

imageimage

  • Only a short block away, and more importantly, downwind from Clark’s Hamburgers – your tiki hut will always smell like fresh hamburgers!
  • Appears to be in the backyard of a strip mall with a tattoo parlor (Revolution Ink)
  • Look at the shape of that lot!   Maybe 3100 sqft but at it looks like about 1/3 – 1/4 of that is useless.

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Sorry no time for a full write up, only bullet-point snark ;-)

Comments (5) -- Posted by: madhaus @ 5:09 am

BLACK FRIDAY DEALS: Cheapest house in Contra Costa County

If you want a property DEAL, you have come to the right place!  Contra Costa has two different kinds of value to offer.  First, there’s classic urban decay in Richmond, with poorly maintained homes and the threat of property damage.  But CCC sweetens the DEALS with exurban abandonment from Antioch to Discovery Bay!  Plus there’s an interesting demographic shift of lower-income inner city residents to the far-flung exurbs, and watch hijinks ensue!

There were 236 listings available for under $100,000 in CCC, so you’re sure to find something suitable at a price you can afford.  Maybe think Costco and buy several at once. 

Today’s house is less than half the price of yesterday’s DEAL, yet it is completely intact and there’s not a word about fire damage.  CHECK IT OUT!

8 W BISSELL Ave #201, Richmond, CA 94801
$30,000

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BEDS: 1
BATHS: 1
SQ. FT.: 554
$/SQ. FT.: $54
LOT SIZE: –
TYPE: Patio Home/Villa
STYLE: Other
STORIES: 1
YEAR BUILT: 1942
COMMUNITY: Atchison Village
COUNTY: Contra Costa
MLS#: 40524154
SOURCE: EBRD
STATUS: Active
ON REDFIN: 200 days

Own a piece of History! Cozy 1 level end unit in Atchison Village Co-Op. Light and bright, freshly painted, refinished wood floors, new windows, updated kitchen and bath, fenced backyard. Very convenient commute location & a price you can’t beat.

imageThis “end unit” came up in a Redfin search for “houses,”  with townhouses and condos excluded.  Patio Villa looks like a fancy way to say condo, complete with $265 a month HOA.  But since this is a 450 unit co-op, it’s 100% owner-occupied. 

It does indeed have an interesting history, built as housing for defense workers during World War II, and still home to some of them, or their descendants.  Also, since the entire parcel is owned by the co-op, you get low, low, low Prop 13 valuation no matter how many times an individual unit changes ownership!  That’s because you don’t own the land, the co-op does.

You won’t be able to get a conventional mortgage to buy here, so either scrape up the cash or find yourself a co-signer willing to put collateral on the line. Where else are you going to buy your own place for $30,000 right on the Bay? Well, 13 feet above the Bay.

image

Also, it’s located within the happening Iron Triangle area of Richmond. But not too happening, as the Streetview picture shows: you have gates to keep the 99% out! Or maybe since we’re talking about a $30,000 property, you can keep the 1% out!

Comments (7) -- Posted by: madhaus @ 4:05 am

November 15, 2011

Theory of Relativity in Real Estate

Today we’re taking a trip to the upscale community of Saratoga, thanks to Burbed reader REshrink.  The initial write-up was originally shared on patrick.net, but REshrink thought they’d be perfect for Burbed.  Add in a visit at the Open House and we hope you agree that these pricey Eichlers make for a great Guest Post.

Neither of these Saratoga listings had sold when this column was sent in, now both are pending!  Be sure to place your bets on their selling prices.  And now, please give REshrink a big, warm Real Bay Area welcome to today’s front page.


19201 SHUBERT Dr, Saratoga, CA 95070
$1,399,000

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BEDS: 4
BATHS:4.5
SQ. FT.: 2,840
$/SQ. FT.: $493
LOT SIZE: 0.32 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1964
COMMUNITY: Saratoga
COUNTY: Santa Clara
MLS#: 81141806
SOURCE: MLSListings
STATUS: Pending Without Release
ON REDFIN: 41 days

Gorgeous Atrium Model Eichler Home on Corner Lot! * 4bds/4.5bths, Plus Office & Workshop * Spacious Living & Dining Area w. Vaulted Natural Beam Ceilings, Tile Flrs * Gourmet Kitchen w. Large Island, Gas Stove & Lots of Counter & Cabinet Space * Open Family Room w. Fireplace * Master Suite w. Private Courtyard * Indoor Pool w. Solar * Foam Roof * Remodeled Baths * Indoor Laundry * Great Location & Saratoga Schools!

imageJust when you are trying to think if this house has been priced accurately at $1,399,000 (last sold in 2004 for 1.1 M) , a similar listing shows up with a price tag of $1,649,000 (19168 De Havilland Drive, pictured at left, last sold in 2003 for $1,488,000).

Is it a coincidence that these two homes are “perpendicularly” next to each other and have similar architectural styles?

Hmmm…why would an agent advise the owners of De Havilland to bring their home in market at a time when a similar property next door is priced approximately $250K lower. I acknowledge that the backyard of Schubert abuts a busy street, but $250K more, really. I will never pay $5.99/lb for tomatoes in Whole Foods if I know they are selling for $3.99/lb in Trader’s Joe next door. I know, I know…it is a bad analogy. After all, you don’t need a jumbo loan to buy tomatoes.

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Moreover, the Schubert property came to the market only 18 days ago. Therefore, it is not like it has been sitting for 6 months and the owners at De Havilland got tired and decided to list their home a month before the holiday season, A.K.A. slow-real-estate season.

imageWhat kind of business decision goes in putting a home in the market for a price tag that is significantly higher than the neighboring home? If you read carefully at the listings for both homes, you will find the answer. Both these homes have something more in common; they have the same listing agent. It seems the property on Schubert, which now looks like a bargain at $1,399,000, is being marketed at the expense of De Havilland. So, buyers don’t delay or you will miss the deal at Schubert; that is if you can get past the bidding war in an attempt to get it for at least $1.5M, which is still $150K lower than the competition.

Any guesses what will happen to the pricing of De Havilland after Schubert is sold? Just go back to the owner of De Havilland and tell them that they should lower the price to whatever-Schubert-sold-for.

Am I the only one who wants to sympathize with the owners of De Havilland property?


imageAddendum: I ended up going to the open house for the Schubert property. The agent proudly explained the updates the current owner made in the kitchen. The cabinets are indeed new but they are Ikea Adel. Please don’t get me wrong as I am a big fan of Ikea, but an increase of $300K since the last sale ($1.1M in 2004) is hard to explain by Ikea cabinets. As for the appliances, the refrigerator does not make ice, and the garbage disposal has been disconnected as it keeps getting clogged. Besides, the only fireplace in the house is now non-functional.

imageAlso worth mentioning, the whole house smelled of Chlorine (from the indoor swimming pool). This stands in contrast to the real estate agent’s false claim about the house having a salt water pool.  The agent tried to mask the cheap-motel-chlorine-swimming-pool-smell by baking garlic-chicken in the oven during the open house. May be, the agent should have followed the traditional route of baking cookies. While the smell of Chlorine was enough to trigger my migraine, I found a few people leaving right away as the smell of garlic was nauseating.

imageSo, here is a wonderful Ikealer, I mean an Eichler for you to buy for $1,399,000 only. As most people might know, the attraction of any Eichler is their architectural philosophy of bringing outside indoors, Well, this purpose has been well achieved in this particular Eichler. The outside noise from Cox Ave can be heard inside the home in its full glory.

 

Comments (8) -- Posted by: madhaus @ 5:02 am

November 3, 2011

Move in with confidence!

Here’s another bubblicious find from Burbed reader nomadic!  This is a delightful Los Gatos home, so well-situated that hundreds of people will drive by every hour to admire it!

 

14540 BLOSSOM HILL Rd, Los Gatos, CA 95032
$948,000

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BEDS:4
BATHS: 2.5
SQ. FT.: 2,193
$/SQ. FT.: $432
LOT SIZE: 0.29 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Ranch
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1967
COMMUNITY: Los Gatos/Monte Sereno
COUNTY: Santa Clara
MLS#: 81142627
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 26 days

Wonderful home in Los Gatos on xx-lg-lot presents everything a buyer is looking for. Remodeled home with granite kitchen, wood floors, open living areas, architectural details of scalloped arched ways, crown molding, inset lighting and lots of natural light, dual-paned windows, large 2.5 baths with double sinks, large master with 2 closets, bonus vanity. Easy commute access. Move in with confidence!

imageHere’s what nomadic had to say about this house

Failed flip, foreclosed, for sale.  A realtard bought this place in ’06 and did all of the renovation work.  The bank ate the loss in ’08.

These people have done nothing to the house since buying it 4/09.  It’s on a busy street with a freakin’ traffic signal in the front yard.  But they figure it has appreciated 30% in 2-1/2 years.  I expect this to linger on the market for many months to come unless they get real about the price.  They would be phenomenally lucky to get $800k; more realistically, $750k-ish.  Look at the awesome street view.  Just to the right is an assisted-living facility; at least the neighbors will be quiet.

That is one amazing default Streetview shot.  I’m wondering about just how wide-angle a lens they must have used to take that picture above from the sidewalk.

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And you just can’t beat the feng shui of a T-intersection with another arterial.  That means all that commerce and prosperity is going to flow right into your house.  Or is it out of your house? And speaking of out, here’s the assisted living facility next door.

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If you have allergies, this is a great neighbor to have: 80% of the front lawn is paved.  But back to the feng shui, if these residents need assistance to live, does their health flow into your house or the other way ‘round?  This is like Cations and Anions, I can never remember which is which.  But as long as both are flowing in or out, you’ll either get commerce or health!  Make an offer with lots of 8s in the price and move in with confidence!

Comments (18) -- Posted by: madhaus @ 5:04 am

October 31, 2011

A Scary Neighborhood for Trick or Treating!

Happy Halloween!

Burbed reader Moxie Girl has a suggestion for you on where to look for Halloween Treats.  Or Tricks.  Or lots and lots of instant equity.  So please give Moxie Girl a big, warm Real Bay Area welcome for this Guest Column on a great new neighborhood for you to check out tonight!


imageI’ve been reading your blog for awhile, and find it horrifyingly (and refreshingly) informative. I currently rent in RBA Mountain View, also known as the 900-sq.-foot-house-on-the-weensiest lot-available-asking-price-$1M capital of California.

Anywhoo, I was tootling along minding my own business, and as I cast my keen eye over Redfin this morning, found this (see attachment) in Redwood City. Let me backtrack first and say that Redfin has been updating the mini neighborhoods in cities for those of us not in the know (Birdland Neighbors in Sunnyvale? Castro City in Mountain View? Sign me up!). And apparently Redwood City has a new neighborhood. Who knew?

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image*Possible Contamination* is the new, hot, move-in mess you’ve been waiting for. Adjacent to Woodside Plaza and in sniffing distance of Alameda de las Pulgas (Street of the Fleas…perhaps this is linked to the contamination problem?), Possible Contamination is your dream destination: houses built in the 1960s with an asking price of $800K+, which are all basically tear downs just waiting to happen. Then you can spend another $500K building the house of your dreams while being hemmed in by average schools and weird neighbors. But hey, isn’t Redwood City’s motto “Climate Best by Government Test“?

I can only imagine that your other eagle-eyed Burbed readers will want to know and move to this neighborhood ASAP. Our own mini-me Chernobyl site! Does that make RWC a sister city to Alviso? Or would that be Three Mile Island?

p.s. This aberration is attributable only to Redfin’s site–if you check out RWC on Google maps, *Possible Contamination* is not there.

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

October 12, 2011

Drive way on the side of the property

Today’s listing was sent in by Burbed reader MS.  Thanks very much for this MUST SEE NOW in San Mateo!

 

1235 TERMINAL Pl, San Mateo, CA 94401
$449,999

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BEDS: 3
BATHS: 2
SQ. FT.: 1,040
$/SQ. FT.: $433
LOT SIZE: 4,050 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Traditional
STORIES: 1
VIEW: Neighborhood
YEAR BUILT: 1944
COMMUNITY: North Shoreview/Dore Cavanaugh
COUNTY: San Mateo
MLS#: 81114350
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 189 days

MUST SEE NOW! Completely remodeled 3 BR 2 full baths including a new roof, double pane windows, new kitchens cabinet, granite counter top and new stainless steel appliances. Pergo floor throughout the house, recessed lighting throughout the house, new interior, exterior paints. Detached two car garage. Drive way on the side of the property.

imageHere’s what MS had to say about this home:

This house is Really for Sale. It has really not sold in 170 days.

Actually it took a while to run this, so now it’s more than 190 days.

The house foreclosed at $260K, came BOM at $500K, and has been stuck at $450K for going on three months.  It is not selling because the flippers did not fix the obvious and did not take into account what could not be fixed.

  1. It’s very close to the 101 retaining wall.image
  2. The garage is an unpermitted conversion from a one-car to a two-car, is sagging, and backs right up to an alley shared with an chain-linked parking gate for a not-nice apartment building.image
  3. The crawl space goes about halfway through the house. How you get to the other half is unknown.
  4. The water heater and w/d hookups are in exposed enclosures outside.
  5. The neighbor across the street has an 18-foot junk mountain behind his fence with “beware of dog” sign. A mattress is perched at the apex.

I CAN HAZ STREETVU?

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I agree it’s never a good sign when the lead picture on MLS isn’t the front of the house.  But surprisingly, the front exterior is not the picture of most concern.  Here’s a look at the side and that unpermitted garage.

imageimage

Hmmm.  The Redfin agent toured it four times and concluded:

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imageAnd we haven’t even started looking inside yet!

The seller just isn’t thinking BIG enough.  Close to SF, close to Silicon Valley, close to biotech jobs, and really, really, really close to 101.

There’s a garage (with no access for a car) which you can instead use for the next Web 3.0 startup incubator make.money.fast opportunity.  Now all that’s needed is a Web 3.0 price and a reminder to drive way on the side of the property.  Way, way on the side.

I’m thinking… $995K.  Who’s in?

Comments (10) -- Posted by: madhaus @ 5:07 am