21970 MCCLELLAN Rd, Cupertino, CA 95014 | MLS# 80945603
21970 MCCLELLAN Rd Cupertino, CA 95014
Price: $839,000

Beds: 2
Baths: 2
Sq. Ft.: 1,055
$/Sq. Ft.: $795
Lot Size: 7,680 Sq. Ft.
Property Type: Detached Single Family
Style: Cottage/Bungalow
Stories: 1
View: Mountains, Neighborhood
Year Built: 1944
Community: Cupertino
County: Santa Clara
MLS#: 80945603
Source: MLSListings
Status: Active
On Redfin: 41 days
MONTA VISTA CHARMER NEAR: MONTA VISTA HIGH SCHOOL, KENNEDY MIDDLE SCHOOL, LINCOLN ELEMENTARY SCHOOL & DE ANZA COLLEGE. LARGE LOT WITH POTENTIAL TO EXPAND. SERENE COURTYARD W/ SM KOI POND, PART. COVERED PATIO, HUGE BACKYARD FOR PLAY AREA. BRIGHT LIVING ROOM WITH GLASS FRENCH DOOR, BREAKFAST BAR, STAINLESS STEEL APPLIANCES, DOUBLE PANED WINDOWS. METAL ROOF. HARDWOOD FLOORS. MASTER WITH WALK-IN CLOSET.

Wall! A small koi pond! Now that’s pretty unique. But… uh… no 888 in the price? Bummer!

And what’s this about a play area? Why are kids playing? Shouldn’t they be at Sylvan or Kumon? Tsk tsk. Talk about teaching the wrong values.

But personally, the part I find most attractive about this house is this:

Yeah. Uh. The walled in look. It’s very… uh… walled.

I guess you can feel safer living in this house. Perhaps you could get a stack of tera cotta statues to guard your forbidden city house. That’d be pretty neat!

Personally, I’d put banner ads on that wall. Cha ching!

Hey, the 2009 US News and World Report High School rankings came out!

I figured I’d use this opportunity to follow up on this older entry:

Jericho High School – Competitor to Monta Vista, Cupertino, and Lynbrook? | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com

Please read it first for background information on how this eww York (pinches nose) school is trying to beat Monta Vista.

Ok, let’s look at this year’s rankings:

38      Jericho      Jericho      N.Y.
140      Monta Vista      Cupertino      Calif.

Oh cool. The gap has narrowed. Now they are down to just 102 schools versus 127! Now, let’s look at the most important aspect: House prices.

According to Redfin, the median sales price for houses in Cupertino was a healthy $975,000. So let’s take a look at a house near that price:

21675 OLIVE Ave, Cupertino, CA 95014 | MLS# 80919151
21675 OLIVE Ave Cupertino, CA 95014
Price: $979,999

Beds: 3
Baths: 3
Sq. Ft.: 1,628
$/Sq. Ft.: $602
Lot Size: 5,335 Sq. Ft.
Property Type: Detached Single Family
Style: Colonial
Stories: 1
View: Neighborhood
Year Built: 1944
Community: Cupertino
County: Santa Clara
MLS#: 80919151
Source: MLSListings
Status: Active
On Redfin: 106 days
CLOSE TO EXCELLENT SCHOOLS-LINCOLN ELEMENTARY, KENNEDY MIDDLE, MONTE VISTA HIGH. PEACEFUL CU-DE-SAC LOCATION W/ GOOD NEIGHBORHOOD, 2 MASTER SUITES, NICE BATHRMS & COZY DINING OFF KITCHEN, EUROPEAN STYLE KITCHEN W/ GRANITE SLAB COUNTERTOPS, HRDWD FLOORS THROUGHOUT, DUAL PANE WINDOWS, RECESSED LIGHTING, SPACIOUS & PRIVATE BACKYARD SETTING.

Nice nice nice. $602 per square foot is a bit low, but the lack of interior pics really helps make this house more Real Bay Area. I don’t really see how it is in a cul-de-sac, but let’s just go with it anyway.

Now, let’s look at the challenger:

MLSLI.com – Long Island Real Estate – Find A Home in Nassau, Suffolk & Queens
JERICHO, NY 11753

Taxes: $15,195

List Price: $935,000

SEC/AREA: West Birchwood
Colonial, Detached, # Families: 1
10.0 rooms, 5 Bedrooms , 2 Full Baths , 1 Half Baths

School District: Jericho
Year Built: 1961

Construction: Vinyl/
Lot Size: 82 X 125 (10250)
Appearance: Mint

Mint Condition Center Hall Expanded Colonial In West Birchwood. Updated Kitchen With Beautiful Wood Cabinetry, Granite Counter Tops, Top Quality Appliances (Bosche,Russel). Kitchen Opens To Den With Floor To Ceiling Brick Fireplace Wall.All New Windows,Pella With Interior Shades Or Marvin.Built In Oak Library.Great Home In Interior Location.Jericho School District.

Unfortunately, New York real estate listings don’t show the square footage of the house, but I’m going to guess that with 5 bedrooms, 2.5 baths, it’s going to be a little larger than the house in Cupertino. The fact that the lot is twice as large is also a hint.

But just look at all those photos – can you smell the desperation? It’s practically begging people to buy it – those poor poor houses.

Let’s face it, the house is shockingly cheap. It’s even got a built in oak library! Everyone in California knows that libraries are unnecessary – I get all my information from the wikipedia. Don’t you?

But most importantly, let’s look at the elephant in the room: the property tax. New Yorkers aren’t smart enough to give themselves Prop 13 – so every year that tax is going to soar. 40 years from now, in 2048, when you pay off your mortgage – you will be paying just $21k a year in property tax if you bought the Cupertino house. If you buy the Jericho house? $70k a year.

Will your children still be going to school? Of course not. Will their children? Who cares! You’ll be able to reap the benefits of other people’s eagerness to get into districts with good schools with your sustained housing price, and they can pay for it. After all, you helped to establish the community.

So once again, Monta Vista wins by a landslide.

Congrats Cupertino!

21976 MCCLELLAN Rd, Cupertino, CA 95014 | MLS# 80933440
21976 MCCLELLAN Rd Cupertino, CA 95014
Price: $895,000

Beds: 2
Baths: 1
Sq. Ft.: 832
$/Sq. Ft.: $1,076
Lot Size: 7,840 Sq. Ft.
Property Type: Detached Single Family
Style: Spanish
Stories: 1
Year Built: 1956
Community: Cupertino
County: Santa Clara
MLS#: 80933440
Source: MLSListings
Status: Active
On Redfin: 8 days
A chance to live in a great neighborhood! Nice Driveway leads to this charming home on a large lot. Quiet location away from street. Walking distance to Top schools (Monta Vista, Kennedy & Lincoln). Large, well manicured backyard to entertain guests. Ample parking space outside in front of 2 car garage. Walk to parks and golf course. Great potential to expand, build new home, or rent.

As we continue to wait for our saviour, Jesus Christ 15% annual year over year home value appreciation, some will suffer. This Cupertino house is one of them.

At just $1076 per square feet, I really feel for this owner. Just a year ago, this probably would’ve sold for $1576 per square foot. But… his loss is your gain. Just check out this hot kitchen you’re getting:

Check out the array of colors in this staged house. Can you say “Googly”?

But more importantly, let’s check out the aerial view:

Check it out! Walking distance to the Bay Area’s famous De Anza College! And check out that interesting driveway – wow it’s like having a private street!!

Here’s an idea… just put up an arm there so that when the lot at De Anza gets full, you can offer parking! Sweet! Monetization! Cha-ching!!

10131 SANTA CLARA Ave, Cupertino, CA 95014 | MLS# 80850774
10131 SANTA CLARA Ave Cupertino, CA 95014
Price: $810,000

Beds: 2
Baths: 1
Sq. Ft.: 816
$/Sq. Ft.: $993
Lot Size: 7,500 Sq. Ft.
Property Type: Detached Single Family
Style: Traditional
Year Built: 1945
Stories: 1
View: Neighborhood
Neighborhood: Cupertino
County: Santa Clara
MLS#: 80850774
Source: MLSListings
Status: Active
On Redfin: 49 days
Fixer-upper
Fixer with a lot of potential! Cupertino * Monta Vista high school * * Kennedy middle * * Stevens Creek elementary * * Lot is over 7,400 sf. This is not a short sale. Probate sale * * Easy process * *

Whenever I need a pick me up, I know where to turn – Cupertino.

Ahhh…. at $993 per square foot, this house exemplifies what is amazing about the Real Bay Area. Let’s take a look at the one interior pic shall we?

Ooh I feel goosebumpy already!

What a beaut! Thank you Cupertino! Thank you for cheering me up!

My god… if only this could clear $1000 per square foot, then we would really be rocking! Woot!

Maybe next year… maybe next year…

20771 Mcclellan Rd, Cupertino, CA 95014 Cupertino MLS# 80845849 – Property Details

$920,000

* Status: Active
* Bedroom: 4
* Bathroom: 2
* Year Built: 1961
* Lot Size: 7446
* Square Footage: 1512
* List Date: 11/18/2008
* Garage Spaces: 2

Centrally located in a great Cupertino neighborhood. Wxcellent Cupertino schools. This home has a ton of potential. Open floor plan, lots of counter space, plentiful storage built in the garage. With the right updates and a little TLC, this home would be worth a lot more. Seller lives out of the area & has not lived in the home for over 40 yrs and has no knowledge of malfunctions.

Recently I discovered that the economy isn’t in such great shape. In times like this, having the right and best education is more important than ever. Monta Vista may be the only keys to success that your children will have. So I thought I’d help all the parents out there by finding the most affordable 4 bedroom house that goes to Monta Vista. And wow… what a find!

With Wxcellent Cupertino schools (that’s code btw), this fixer upper will give your children the right start. Just add some TLC, fix the lines of code that is triggering the malfunctions and BOOM you’ve got a million dollar house. Frankly, this is an amazing deal imho. The ZEstimate is $1,093,000 – hello instant equity!

Great school, great price. What more could you ask for in the paradise of Cupertino?

10049 IMPERIAL Ave Cupertino, CA 95014
Price: $828,000

Beds:     2
Baths:     1
Sq. Ft.:     672
$/Sq. Ft.:     $1,232
Lot Size:     7,130 Sq. Ft.
Age (Years):    68
Year Built:    1940
Type:    Detached Single Family
Style:    Cottage/Bungalow
Stories:    1 Story
Neighborhood:    Cupertino
County:     Santa Clara
MLS#:     80823175
Source:     MLSListings
Status:     Active
On Redfin:     96 days
Unsold in 90+ days
MONTA VISTA BUNGALOW ZONED ML SOLD AS-IS TRUSTEE SALE. TOP CUPERTINO SCHOOLS. NEAR PARKS, DEEP CLIFF GOLF COURSE, DE ANZA, HWY 85 & 280. SHOW AFTER 4:30PM W/ 24 HOUR NOTICE.

More happy news for these glum times – $1232 per square foot. Woot!

This is exactly the kind of cheering up that people here in the Real Bay Area needed! After all, it’s Cupertino!

Oh but wait, it gets better! Let’s look at this amazing prime location:

Can you say easy access to shopping? I don’t know what kind of stores those are, but heck, they’re convenient. And look – you’ve got a neighbor who appreciates cars!

Win win win!

21950 MCCLELLAN Rd Cupertino, CA 95014
Price: $899,888

Beds:     3
Baths:     2
Sq. Ft.:     1,015
$/Sq. Ft.:     $887
Lot Size:     6,000 Sq. Ft.
Age (Years):    64
Year Built:    1944
Type:    Detached Single Family
Stories:    1 Story
View(s):    Neighborhood
Neighborhood:    Cupertino
County:     Santa Clara
MLS#:     80816064
Source:     MLSListings
Status:     Active
On Redfin:     130 days
Unsold in 90+ days
Charming home has Cupertino schools: Lincoln Elementary/ Kennedy Middle/ Monta Vista High. Fresh interior designer paint. Remodeled kitchen. Hardwood floors thru-out. Upgraded bathrooms (master bath done w/ out permit). Spacious backyard. Walk to schools. Near parks, Deep Cliff Golf Course. Close to shopping, De Anza, Hwy 85 & 280.

With all the glum news lately, I thought I’d celebrate things that make the Real Bay Area happy. Like this house!

Hey savvy negotiators, if you can get the owner to knock off just $11k, this house would be unbelievably lucky! 888,888? Come on… that’s some heavy hitting feng shui right there. It’s like East Meets West – traditional white picket fence, super lucky numbers.

Can someone say fusion cuisine? That said if you do knock of $11k, you’ll lower the price per square foot to $875 – not so lucky. Might I suggest overbidding to $901,320 to get the magical $888 per square foot? It’s less than $1500 more! Your children are worth it, aren’t they?

22641 Alcalde Rd, Cupertino
95014
$1,199,000
* Status: Active
* Bedroom: 2
* Bathroom: 1
* Year Built: 1948
* Lot Size: 9310
* Square Footage: 1716
* List Date: 3/26/2008
* Garage Spaces: 3
* MLS#: 786969
BRING YOUR ARCHITECT AND BUILD YOUR CUPERTINO DREAM HOME ON THIS PRIME PIECE OF CUPERTINO PROPERTY. LARGE, FLAT LOT. DEFERRED MAINTENANCE TO CURRENT HOME MAKES THIS DWELLING UNLIVABLE IN CURRENT CONDITION. REMODEL OR REBUILD A MUST. AS-SALE. NO WARRANTEE. TRUSTEE SALE. HOUSE IN EXTREMEY POOR CONDITION. Schools: Stevens Crk, John F. Kennedy, Monte Vista.

I love how this house is advertised that it is in extremely poor condition and that this dwelling is unlivable. Two words: REVERSE PSYCHOLOGY

I bet after reading that, you said to yourself: MUST HAVE.

And must have you should! After all, buying this house gives you something that others can only dream of – FREEDOM. Freedom to build whatever you want. Freedom to start anew. It’s the way of the West, the American Dream, the glory of hope!

Oh my god, how can you resist this two punch attack of psychology and patriotic appeal.

And yes there was an open house – but would you have attended?

It’s Number Crunching Monday. Let’s do some math behind the house 21568 Rosario Ave in Cupertino. Why this house? Because I saw this ad on craigslist:

quiet neighborhood house, walking distance to Kennedy ,Monta Vista
$2595 /3BR, 2BA Cuperino House walking distance to Kennedy and Monta Vista High
Wonderful 3 bedrooms and 2 baths, 1750 sq. ft. Newly installed windows.
OUTSTANDING TOP-RANK SCHOOLS (Rank 10 = Highest):
• Monta Vista High (Academic Performance Index=924,’04/’05 State-wide Rank 10/10)
• Kennedy Middle (API=948,’04/’05 State-wide Rank 10/10)
- Walking distance to all schools.

Fireplace, Large swimming pool, Beautiful yard and Quiet neighborhood.
2 car garage, gardener and pool service included.
NO PETS.
Rent: $2595 per month deposit
21568 Rosario Ave. (cross road: Bubb Rd.)

Well – $2595 a month to rent. That seems ok for a 3 bedroom, 2 bathroom… except that my real estate agent friends constantly tell me that rent is throw away money. Which is true too. After all, you’re not getting any equity right?

Now, according to zillow…

Zillow.com – 21568 Rosario Ave, Cupertino, CA 95014

$945,668 (What’s this?)

Value Range: $832,188 – $1,002,408

Now, Zillow isn’t always right. Some people say that it underestimates, some people say that it overestimates. But even then, the deltas aren’t usually that enormous. So let’s say for a moment that this really is $945,668.

Ok great – so let’s feed that amount through some mortgage calculators. But first, let’s assume that we put a 10% downpayment (which is a lot these days) – so the mortage amount is actually: $851,101.

So what do we have?

Wait a minute, if I rent this for 5 years, the rent would be $155,700. That’s about 25% less than an interest only loan payment. Of course rent does go up and with a loan, the interest is tax deductible – but then again, the interest only loan payment doesn’t include insurance, maintenance, or property tax.
Also, with an interest only loan, which is over 50% of the loans in Silicon Valley, you would have to hope that your property appreciates so that you can somehow cover the balloon at the end of 5 years. (I’m a little fuzzy on this part.) It looks to me like the property would need to appreciate at least $213,000 to break even – and that doesn’t even include the 4-6% agent fee for doing nothing.

Of course, $213k is just 22% of the house’s price value today. It could go up that much by end of next year. Otherwise that’s just 4.5ish% a year for the next 5 years.

Wow, this was a lot of math. What’s your analysis?