January 13, 2009

San Jose house located on a Court – the Court of 880

1872 Walnut Grove Ave, San Jose, CA 95126 MLS# 80845220 – Property Details

$398,500

2048886771_1872

* Status: Active
* Bedroom: 3
* Bathroom: 1
* Year Built: 1946
* Lot Size: 5100
* Square Footage: 1092
* List Date: 11/13/2008

* Garage Spaces: 2
Located on a court, enclosed front patio, partial hardwood, some double pane windows. Not a short sale!! The information is provided by others and has not been verified by CENTURY 21 Alpha, seller or listing agent. Each CENTURY 21 office is independently owned and operated.

Thanks to Burbed reader Michelle for this find.

Frankly, this is not quite what I had in mind when I read that this house was on a court. But it’s a good thing that some windows are double pane – not all. Otherwise, you might miss out on the ambiance of living on 280. How would you know what is going on? If you should wait another 15 minutes or so for the rush hour to end?

The information is provided by others and has not been verified by BURBED, seller or listing agent or anyone of intelligence. Each BURBED post is unique and special like a snowflake. Brought to you by BURBED.

Comments (35) -- Posted by: burbed @ 5:58 am






August 20, 2008

$1,355 per square foot house in Palo Alto – normal!

2375 SIERRA Ct Palo Alto, CA 94303
Price: $1,199,000


Beds:     3
Baths:     3
Sq. Ft.:     885
$/Sq. Ft.:     $1,355
Lot Size:     7,620 Sq. Ft.
Age (Years):    58
Year Built:    1950
Type:    Detached Single Family
Stories:    1 Story
View(s):    Neighborhood
Neighborhood:    Green Gables
County:     Santa Clara

Must see. Move in condition. Live in exisitng or build your dream home. Cul-du-sac. Nice neighbourhood. Easy access to freeway. Close to midtown. No sign, no lockbox. Sellers are moving out of town & want quick close. “AS IS” Sale. Open house Aug 9 from 1.30pm to 3pm. Still accepting offers.

Burbed reader Michelle originally sent this to me at the end of July, but I missed it (junk mail folder woes.) Here’s what she had to say then:

Take a look at this gem, new to the market.  Priced for 34% appreciation in 36 months!

Crappy part of Palo Alto and “just” $1242/sf on a small-ish lot.  The buyers will have to act fast – offers are due this Tuesday.  Time for all of those bids to rush in.  (And I have to wonder, if the realtor says this place is “move in condition” then maybe he/she is color blind.)

Guess what Michelle! It looks like you should’ve bought it back then because the price has already appreciated an additional 9% since it was listed. Damn! Ouch!

Besides, is this really so bad?

The TV mounted over the stove gives it a certain retro-bling feel. Plus, these are Palo Alto schools!

Honestly, if you’re interested in this house you’d better buy it ASAP. Otherwise, I can easily see the sqft appreciate another 9% by the end of the month. This is Real Bay Area Prime Platinum. Better quick on the draw!

Comments (76) -- Posted by: burbed @ 5:35 am

August 3, 2008

America’s Most Overpriced ZIP Codes – Willow Glen?

America’s Most Overpriced ZIP Codes – Forbes.com
America’s Most Overpriced ZIP Codes
Matt Woolsey, 07.29.08, 4:00 PM ET

In San Jose, Calif., home to Silicon Valley and some of the highest home values in the country, a bumper sticker reads, “Dear God, one more bubble before I die.”

Chances are the car’s driver lives in Willow Glen, a neighborhood with a small-town feel, Spanish-style single family homes and a main street with sidewalk cafes and locally owned shops. To live there, residents are paying the city’s highest prices relative to what they could pay to rent similar properties in the same area. When you compare mortgage payments to the value of a similar home on the rental market, the price to buy is 26.1 times higher, one of the biggest differences in the country.

Willow Glen is one example of a neighborhood where homeowners are still taking chances on future appreciation–and paying a premium above and beyond their neighbors for that confidence.

[snip]

But expensive does not mean always mean overpriced.

Limestone townhouses on the Upper East Side of Manhattan, for example, are listed for ever-dizzying prices. Financier J. Christopher Flowers bought a $53 million townhouse on East 75th Street in 2006, and sold a smaller East 73rd Street townhouse undergoing renovation for $23 million in 2007. Expensive? Yes. Overpriced? Not so much. Consider that a five-bedroom mansion on East 74th Street that once belonged to Eleanor Roosevelt is currently listed for $60,000 a month. Prices may be tops in the city, but prime rental prices are peerless as well.

Instead, the country’s most overpriced areas are ZIP codes like San Francisco’s Outer Sunset neighborhood, 94122, which, given its location near the Pacific Ocean and on the south side of Golden Gate Park, was during the most recent boom widely thought to be up-and-coming. Median prices surged from $560,000 in June of 2003 to a peak of $771,000 in March of 2008, based on Trulia.com price data drawn from California’s multiple-listing service.

Still, it’s not as overpriced as New York’s TriBeCa (10013) or Boston’s Chinatown (02111), where demand for high-end condos, new development and proximity to downtowns have pumped up prices.

Goddamnit. New York beats us again. Heck even Boston’s 1 block of Chinatown beats us. Why can’t we ever win? Why can’t we have the most overpriced Zip Codes?

What can we do as community to win? Let’s think out of the box people!

Thanks to Burbed reader Michelle, Mia, and many more for this find.

Comments (6) -- Posted by: burbed @ 5:26 am

April 25, 2008

Very very clever auction in Redwood City

500 Hurlingame Ave Redwood City, CA 94063

Starting Bid: $179,000
Previously Valued To:* $480,000

Item #: 752
Address: 500 Hurlingame Ave Redwood City, CA 94063
Property Type: Single Family
Year Built: 1958
Square Footage: 1020
No. of Bedrooms: 3
No. of Bathrooms: 1
Total Rooms: 6
Lot Size: 0.05
Occupancy Status : Vacant
Financing Available : Yes

Hey wait a minute… this sounds familiar! Now I remember!

Very very clever!

You see, buy using a ludicrous starting bid like $179,000 approximately 1 million people will show up to with cash and Google stock in hand to buy this house.

Having just been sold on 9/4/2007 for $464,120, and a Zestimate of $535,500, I predict this house will easily clear for $535,500.

What do you think this Hurlingame house will clear for?

(Thanks to Burbed reader Michelle for this find.)

Comments (23) -- Posted by: burbed @ 5:36 am