January 26, 2013

UPDATED: Special Bunus Report: Record-breaking property sale in Woodside

Thanks very much to Burbed reader Real Estater, who passes along the news that We’re Number One.  Again.  That is, We’re Number One as long as you don’t count ranches with a hundred thousand acres in Montana.

Silicon Valley real estate stunner: Woodside estate sells for $117.5 million

By Pete Carey, SJ Mercury News
Posted:   01/25/2013 07:00:12 PM PST; Updated:   01/25/2013 09:13:29 PM PST

WOODSIDE — A legendary investor’s sprawling estate here has sold for $117.5 million, one of the highest prices ever for a residential property in the U.S.

The sale price eclipses the previous Silicon Valley record of $100 million paid for a Los Altos Hills mansion by Russian investor Yuri Milner in 2011 and comes amid a red-hot market for luxury home sales in Silicon Valley and the Peninsula.

The private sale was closed in November between the owner, private equity investor Tully M. Friedman, and an undisclosed buyer represented by SV Projects, according to public records.

130126-mtnhome-frontNice going, San Jose Mercury “We once were a real News organization! Really!”  You’re reporting on a record-breaking property sale and couldn’t find any pictures of the property?  And it’s not like you didn’t have a few leads to go look for them.  Like the one from SFLuxe you alluded to at the end of your story and didn’t even hotlink in.

Their article has several excellent photos of delicious houseporn, all credited to photographer Jay Graham.

SFLuxe states their article is an exclusive, so they must have an arrangement with Graham to feature his photos.  Do check out their article.  In the meantime, Redfin is redirecting any requests to see the property record with a lovely redirect loop, so let’s see what we can find out elsewhere.

Update 20:50 — The Redfin link is working again but it’s been somewhat scrubbed. What a coinky-dinky.

130126-mtnhome-zillow360 Mountain Home Rd
Woodside, CA 94062

California > Redwood City > 94062 
Not for Sale
Zestimate: $19,227,778
Rent Zestimate: $12,677/mo
Est. Mortgage:
$69,193/mo

Bedrooms:4 beds
Bathrooms:4.5 baths
Single Family:8,930 sq ft
Lot:391,604 sq ft
Year Built:2005
Last Sold:Jul 1997 for $8,000,000
Parking:Garage
 
Description
This 8930 square foot single family home has 4 bedrooms and 4.5 bathrooms. It is located at 360 Mountain Home Rd Woodside, California.

Sure makes you wonder about those Zestimates when they’re off by 500%, although it’s hard to model paying top dollar for bragging rights.

We’re not going to find much in the public real estate websites, because the property was never listed for sale.  Still, the SFLuxe article gives a few hints.  The architect is Allan Greenburg, who featured four photos of the house in his online portfolio:

130126-mtnhome-poolWoodside Residence
California

This northern California home sits in an elaborate hilltop garden. Reflecting the strong Palladian tradition in the United States, it is planned around hyphens and dependencies and features a double volume, elliptical garden room.

Photo: Michael Biondo

And as to why we are almost Number One in expensive real estate transactions?  There’s that 124,000 acre ranch in Montana that Stan Kroenke bought, listed for $132.5 million (including the cattle).

Update 20:50: Adding in an aerial shot.  Note the road at the side of the house is not where the entrance is, that’s far off beyond the lower right.

130126-mtnhome-satellite

Anyway, eat your heart out, Yuri Milner.

Comments (11) -- Posted by: madhaus @ 1:07 pm






December 4, 2011

OMFG is this THE END of those %$#@ Zip Codes? Rly?

What with all the excitement from our Black Friday and Beyond DEALS, you may not have noticed that our last zip code installment finished out the 301-400 level of Forbes’ Most Expensive Zip codes.  You know what that means!

Yes, this article, the Bottom 100 of the 500 Most Expensive, is The End of the Delivery Route.  Really.  Well, until 2012, when Forbes puts out a brand-new list, but there’s a good chance the world will end before then.  There’s an even better chance that Forbes will only have 5 places on that list instead of 500, with all the mistakes they made this year.  So you’re going to want to pay attention to every single zippy digit in this last entry for 2011!  But first… here’s your chance to catch up if you missed the earlier entries in this exciting, edge-of-your-seat-on-the-mail-truck, most beloved Burbed series of all time!  (Or was that most belittled?)

Previous Entries in the Most Expensive Zip Code Series:

Hold onto your mailbags, folks!  We’re entering an area with all the median prices under $750,000!  Watch out, there may not be any sushi available.

#406: San Anselmo 94960

  • Median Home Price: $749,000
  • Median Price Change: -17.4%
  • Average Days On Market: 200 129
  • Inventory: 129 52
  • 2010 Rank: 267 (-139 spots )
  • Most Expensive Home: $20.5 Million

imageA $20.5 million dollar house in Marin makes sense, but in San Anselmo?  I can’t find anything for eight digits anywhere near San Pablo Bay, and this zip’s most expensive place at 178 W Oak Knoll Drive comes in at only $3.4 million.  That’s very different. This 6000 square foot hotel-like structure on almost 10 acres has been on the market for just about half a year, so you’d better hurry!

Now, we know plenty of high-end places get yanked at the end of warm weather season.  But I find the idea of a $20 million ask going without comment pretty unlikely.  This Marin real estate blog didn’t note it under San Anselmo.  Or anywhere else.  The most expensive sale logged in MLS this year was only $8.75 million, in nearby Ross (#30 last year and mysteriously absent this one).

Zowie!! More zip code inZanity after ze break!

(more…)

Comments (7) -- Posted by: madhaus @ 5:15 am

November 27, 2011

Our Biggest Fan of This Series is Thrilled There’s Another Installment!

imagePoor Mr. Zip.  The United States Postal Service put him out to pasture in 1986, when they introduced the ZIP+4 postal codes.  But he was a familiar sight in the 1960s, urging everyone to include the new ZIP (Zone Improvement Plan) postal codes when sending mail.

Mr. Zip might not be around to nag you on addressing envelopes, because he’s in retirement.  Mr. Z writes to say he hopes this series will go on forever, because he can’t play Name That Code all the time.

imageToday we bring you yet another installment of all the Northern California cities on Forbes’ Most Expensive Zip Code list.  It features data crunched by local favorite Altos Research (and mangled by Forbes; you’d think after I’ve linked to them four different times and noted in each article that their data has a systematic error in every single entry, maybe somebody there would fix it, but NOOOOOOOO).  Anyway, here’s what you may have missed while writing code or hanging out on a sunny sidewalk waiting to collect a faceful of pepper spray.

imagePrevious Entries in the Most Expensive Zip Code Series:

imageNow, we’ll take the Fifth!  Fifth Tier, that is; the Top Half of the Bottom 200!

Let’s see which cities can still scrape together a property median wishing price just under $850K.  Remember, we correct the mistakes as we find them, and we added the comparison to last year’s list.  That’s the kind of original work you’ll only find done by obsessive-compulsive bloggers who think zip codes are fascinating.  Well, Mr. Zip certainly agrees!

image#304: San Mateo 94402

  • Median Home Price: $849,292
  • Median Price Change: NA
  • Average Days On Market: 200 114
  • Inventory: 114 81
  • Rank in 2010: 236 (-68 spots )
  • Most Expensive Home: $13 Million

Now I am beginning to think that the people at Forbes were just making stuff up for that “Most Expensive Home” field.  $13 million.  In San Mateo.  The most expensive place I could find sold for $3.3 mil in June, including the gated entryway.  It’s just like what you get in mid-level condoplexes, including calling itself an ESTATE (complete with the CAPITAL LETTERS).

Ah, but that living room does look spacious enough to hold a very small charity ball.  More goodness from Mr. Zip after the break!

(more…)

Comments (37) -- Posted by: madhaus @ 5:03 am

November 21, 2011

Most Expensive House in Sunnyvale. Or Anywhere Else.

Thanks very much to Burbed reader Swan for this find!  It’s great to know that nobody’s going to stiff Sunnyvale for bragging rights to the most expensive residence in the entire country, so take that Yuri Milner!

104 BRISBANE Ter, Sunnyvale, CA 94086
$652,000,000

image

BEDS: 3
BATHS: 2.5
SQ. FT.: 1,777
$/SQ. FT.: $366,911
LOT SIZE: 4,489 Sq. Ft.
PROPERTY TYPE: Attached Single Family
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1988
COMMUNITY: Sunnyvale
COUNTY: Santa Clara
MLS#: 81148138
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 1 day
NEW LISTING (24 HOURS)

Beautifully remodeled home that features high vaulted ceiling, new flooring throughout, granite countertops and dual sinks in both bathrooms, 2 fireplaces, gated community. Must see. Home is located close to downtown Sunnyvale(shopping), and Cal Trains. Centrally located, 10 minutes to Google , 7 minutes to Apple Co. Be in your dream home before Christmas!!

imageHere’s what Swan had to say when sending this beautifully remodeled home in:

Here’s a townhome in Sunnyvale (not even Cupertino schools) for $652,000,000!  Talk about a typo (hopefully).  Someone needs to go back to elementary school and learn some place value.

 

10 min. to Google and 7 min. to Apple.  I think I see a price reduction in the near future!

Just because Trulia has this property designated as Off-Market, formerly listed for $670K, don’t be so sure this is a typo.  Look at all you get with this house:

imageNot only beautifully remodeled, the agent spelled “remodeled” correctly.  You can’t ever count on that (see tomorrow’s listing for proof of that).

High vaulted ceiling: You know what that means?  Right.  Bank vault.  This house is selling for upwards of half a billion dollars because a former Washington Mutual VP was bringing too much high-value work home.

New flooring throughout: More places to hide money!  This house is going to be the best treasure hunt ever!

Granite countertops: Say no more!  Granite!  If you’re going to decorate like it’s 2006, you might as well pay like it’s 2006!

imageDual sinks: This property will be have a water view twice as fast as a normal place would!

2 fireplaces: If you don’t make your money the old-fashioned way, you can BURN IT.

Gated community: You get a “clicker” to keep the riff-raff where they belong: in 99 percentville.

Close to downtown Sunnyvale(shopping): I’m glad they tell you what is in downtown Sunnyvale.  I thought it was for watching construction projects repeatedly fail.

imageand Cal Trains: Whoo-whoo!  I hope you like Cal Trains, because you’re going to hear every one of them!

Centrally located: Miles from a freeway no matter what direction you go.  Hope you like traffic lights!

10 minutes to Google: Are you sure? I was able to Google this property in about five seconds.

7 minutes to Apple Co: Siri, turn this traffic light green immediately.

Be in your dream home before Christmas!!  And save $8,150,000 with Redfin!  Wait, wait, I almost forgot… this house has a gold star!  Let’s see what the Redfin agent thought of it:

image

But does it have a shed-like structure?  Because if it doesn’t, I’m only offering $651,990,000.

Update: Price reduced to $652,000 at 9:13 am.  That’s a 99.9% cut, which is a perfect promo for our Black Friday Sales!

image

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

November 20, 2011

Moo-ha-ha-ha! Burbed’s Most Loved Series EVER!

Yes, we’re back with Northern California places on the Forbes most expensive zip code list.  As you get ready for Thanksgiving, one thing you can give thanks for this Thursday is that this all-time favorite series (if by “favorite” I actually mean “causes excited readers to fling household appliances”) only runs on Sundays.  That means it’s at least another seven days until the next installment!  If you missed the last ones, you’ll want to catch up RIGHT AWAY so you are completely up on every aspect:

Also, beginning Friday will be Burbed’s Black Friday Sales!  That’s where we scour the Real Bay Area in search of the best bargains out there for you.  While you may not be able to afford the most expensive house in the most expensive zip codes, maybe you can afford one on the other extreme!

And now, the Top 100 of the Bottom 300 Most Expensive Zip Codes in the Country: This is Fourth Tier: Under a Million Median Means Middleclass Metroplex.  Or the shorter version: Forbes screwed up again.

#212: Redwood City 94062

  • Median Home Price: $998,975
  • Median Price Change: -11.9%
  • Average Days On Market: 200 118
  • Inventory: 118 76
  • Rank in 2010: #185 (-27 spots )
  • Most Expensive Home: $3.6 Million $3.45 Million (610 Edgewood Road)

imageOne of the few shared zips to survive Forbes and Altos Research’s data parsing, the most expensive zip in Redwood City is shared with tony Woodside, California.  But you won’t find movers and shakers like Larry Ellison in Redwood City.

What you will find is this house, complete with Mawbul Kawlums, at a Woodside Price on a busy arterial that feeds I-280!  The owners have been trying to sell it since 2009, no doubt because its neighborhood of “High School Acres” fails to evoke wealth, exclusivity, or prestige.  Maybe they should rename it “Prep School Prospects” and see if that does the trick.

More exciting Zip Code ZAwesomeness after the break!  More! More! More!

(more…)

Comments (9) -- Posted by: madhaus @ 5:15 am

November 6, 2011

Non-RBA Poseurs Not Priced Enough for Top 50

imageIn a previous article, we profiled the Northern California cities that hit the Forbes 50 Most Expensive Zip Codes out of 500 of those suckahs.  But we only care about the ones where the weather is nice, sushi is abundant, and you can get stock options without being the CEO.

These are the Zips that didn’t make the Top 50.  Forbes didn’t think they were worthy of home listing photos, so I had to dig them up myself.  And let’s remind Forbes about their messing up their detail data, what with every single DOM value set to 200.

Should any of these zips be allowed in the RBA?

#51: Los Altos 94024

  • imageMedian Home Price: $1,895,000
  • Median Price Change: -36.3%
  • Average Days On Market: 200 119
  • Inventory: 119 43
  • Rank in 2010: #18 (-33 spots )
  • Most Expensive Home: $5.5 Million (12445 Hilltop Rd)

Forbes avoided last year’s screwup with this zip by simply not admitting Los Altos Hills exists in 94024 this year.  Last year LA and LAH had identical data and ranks.  This year they screwed up by picking a property in Los Altos Hills as most expensive.  The most expensive I can find in Los Altos proper is this one (whose photo appears at right) at $4M.

And there’s plenty more, after the break!

(more…)

Comments (12) -- Posted by: madhaus @ 5:04 am

October 30, 2011

Updated: For Halloween Weekend, Here’s a Scary Treat for You from Burbed!

imageOoops, my bad.  It’s a trick.  It’s a trick!

You see, Forbes has their new list of the 500 Most Expensive Zip Codes out, and it’s time to see how much of the Real Bay Area (RBA) can Occupy The Forbes Zip List!  Since this series is a perennial Burbed favorite, we’re going to devote the next five hundred weekend posts to lovingly analyzing every single aspect of this new set of delicious demographic domicile data.

Today: The Top 50 Most Expensive Zip Codes

Hey wait, come back!  This is going to be really good!  We’re going to see which zip codes gained or lost ground since last year!  Maybe some of them get kicked out of the RBA for this!  This is a Burbed exclusive, too, Forbes didn’t bother doing any analysis of their own list changes.

imagePlus this year’s Forbes feature has the top 50 places show the most expensive house so we’ll link to each listing, plus what you can get for a mere million. That means nothing in the RBA except one crapshack in Los Gatos despite their featuring 20 different “expensive” zips.  Ha ha!  Our expensive zips are so Special we don’t let any stinking one million dollar properties in!

We also love to catch Forbes in mistakes, so if there’s something more expensive they missed, or if they otherwise screwed up like last year, we’ll be sure to let them know with as much obnoxious chortling good-natured ribbing as possible.  It’s going to be awesome!

Updated: And the TRICK is on Forbes for a Burbed Treat!   They have screwed up very, very badly.  Badly enough that I’m wondering if their (bad, really bad) mistakes made it to the print version of this feature.  If anyone has a copy, please let us know in comments.

I’ve grabbed the Days on Market (DOM) from the big table as Burbed readers Divasm and nomadic point out every single zip had a DOM of 200.  That’s highly unlikely.  Nice going, Forbes!  I can’t wait to see if your other numbers disagree too!  (Yes, they’re fvcked.)

I’m also putting a break in right after the first entry, because this article is not one of our shorter pieces.  And now, here they are!  Every Northern California entry in Forbes Top 50!

#2: Atherton 94027

  • Median Home Price: $4,295,000
  • Median Price Change: +7.1% ⇑
  • Average Days On Market: 200 162
  • Inventory: 162 41
  • Rank Last Year: #2 (no change)  Exclusive BURBED content, Not on Forbes!
  • Most Expensive Home: $20 Million (52 Tuscaloosa Avenue)

imageOh little town of Atherton
How high we see thee lie
Above thy rich and floodless ditch
You burst with equitie
Yet in they dark streets shineth
No mortgage meltdown mess
The hopes and quips of other zips
Are met in thy address

Oops, Tuscaloosa now listed for $18.9 million.  Sorry about that!  Are you Astonished?

Also I found this $24M home, listed a month ago.  Guess they missed it when putting their article together, since it ran a couple of weeks ago.  But Homes of the Rich found it too.

More after the break!  Much more!

(more…)

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

December 18, 2010

They’re Baaaaaaaaack!

The Cheapest House In… series is so popular, what could be more appropriate than bringing back another one? That other perennial Burbed series, Most Expensive Zip Codes: RBA Edition!  Well, what indeed, other than some of the commenters saying they hated it?  But that’s okay.  That was just one or two hot-heads.  We know all the rest of you can’t wait to find out when San Jose makes an appearance on that list!

If you missed the previous entries in the ZIP code series, feel free to check them out.  The 500 most expensive zips were chosen by Forbes magazine, working with Altos Research’s data.  All the mistakes were entirely Forbes’, of course.  We just take credit for finding them.

And now, Burbed proudly presents (okay, not so proudly, we did get some Debbie Downers who moaned about this) The Most Expensive Zip Codes in the RBA: The Six Digit Edition.

#201 – 94506 Danville

Median Home Price: $1,072,360
Median Price Change: NA
Average Days On Market: 96
Inventory: 84 properties
Median Household Income: $142,459
Ignored Because: In East Bay, plus Forbes can’t figure out where Danville actually is.  Remember that expensive Danville zip here at #59?  That was actually Pleasanton.

#202 – 93924 Carmel Valley

Median Home Price: $1,064,710
Median Price Change: 9%
Average Days On Market: 206
Inventory: 101 properties
Median Household Income: $71,053
Ignored Because: Another gazillion square mile zip full of nothing.

image#211 – 95014 Cupertino

Median Home Price: $1,042,581
Median Price Change: -4%
Average Days On Market: 69
Inventory: 155 properties
Median Household Income: $100,020
 
Finally,, a place we can call home; home to Apple, home to Hewlett-Packard – oops, not any more! But it is home to the world-famous Cupertino Union School District, where parents raised two million dollars to keep teachers from losing their jobs another year.  So if you move in, you know you’ll be hit up for even more next year!

The median price is still over a million, but not for long!  At least it has an eight in it.

image #212 – 94010 Burlingame

Median Home Price: $1,035,952
Median Price Change: -25%
Average Days On Market: 88
Inventory: 122 properties
Median Household Income: $82,188

Conveniently located at the nexus of US 101 and SFO, Burlingame has many advantages which I’ll leave to the imagination.  Just as Los Altos Hills has Los Altos pulling down the averages, Hillsborough will always have Burlingame.  And why not, when they share the same ZIP code?  And in an amazing coincidence, they also share the same median income.

Anyone who thinks the typical Hillsborough household income is $82K when the houses sell for $2.9 million, raise your polo mallet.

image #220 – 94115 San Francisco

Median Home Price: $1,018,459
Median Price Change: -21%
Average Days On Market: 93
Inventory: 99 properties
Median Household Income: $54,879

You ever see that movie, Pacific Heights, where the psycho tenant tries to drive the yuppie landlords out of their house?  This is where it supposedly took place.  (It actually took place at Texas and 19th Street, in Potrero Hill, but then the house wouldn’t have sold for $750,000 in the late eighties.) 

Pacific Heights: median home price, a million.  Median income, fifty thou.  Why was anyone surprised when an angry renter happened?  Disclaimer: I have actually lived in this zip code.  As a renter.

#227 – 94939 Larkspur

Median Home Price: $1,004,396
Median Price Change: -26%
Average Days On Market: 95
Inventory: 36 properties
Median Household Income: $75,747
Ignored Because: Location, location, location! Right next to San Quentin.

image #236 – 94402 San Mateo

Median Home Price: $982,903
Median Price Change: -10%
Average Days On Market: 103
Inventory: 103 properties
Median Household Income: $82,796

Whoa, look at that map!  This zip is cut into three different pieces!  Well seriously, if San Mateo gets to pick and choose separate parts that go to one zip, of course they can optimize it to get a couple of their zips onto the Top 500.  Place your bets which one we’ll see next, and when!

For this, 94402 is nominated for the Jerry Mander Prize for noncontiguousity.  But it’s still San Mateo so nobody is impressed.  Just the fact that we’re now under a million for the median home price tells us we’re not in Atherton anymore.

image #238 – 94118 San Francisco

Median Home Price: $976,434
Median Price Change: -8%
Average Days On Market: 71
Inventory: 86 properties
Median Household Income: $61,609

This zip contains Inner Richmond and Laurel Village, along with the nice places along the Presidio near Lake Street.  What’s surprising is how close the numbers are to Pacific Heights’ zip code.  Then again, zip codes were designed for postal workers, not real estate agents.

Then again, it includes 19th Avenue, and any house near there could be described as A Thoroughfare Runs Through It.

image #241 – 94127 San Francisco

Median Home Price: $969,776
Median Price Change: -8%
Average Days On Market: 103
Inventory: 50 properties
Median Household Income: $95,313

Remember what I was saying earlier about Portrero Hill?  Well, this isn’t it.  This is Mount Davidson, highest point in San Francisco (928 feet).  The neighborhood southwest of Mount Davidson is called Sherwood Forest.  Now all we need is a Robin Hood to steal from the people who live here (check out the median income).

This is also the site of the park scene with the cross in Dirty Harry, where Harry confronts serial killer Scorpio.

image #245 – 95120 San Jose

Median Home Price: $965,271
Median Price Change: -2%
Average Days On Market: 86
Inventory: 176 properties
Median Household Income: $120,117

San Jose?  No way.

Way, even San Jose finally cracks the list of Most Expensive Zip Codes, although #245 doesn’t exactly serve up bragging rights.  This part of town is on a hill like San Francisco above, but if you can name a movie shot at Calero Reservoir as notable as Dirty Harry (heck, our Governator said that movie influenced his acting career), go for it in the comments.

image #250 – 95033 Los Gatos

Median Home Price: $940,654
Median Price Change: 7%
Average Days On Market: 172
Inventory: 98 properties
Median Household Income: $106,675

Los Gatos’ third zip code squeaks under the wire at number 250, joining more chichi 95030 (#38) and 95032 (#199) in the list of Most Expensive Zip Codes in the United States.

This from the zip that provided the Cheapest House in Los Gatos earlier this week.  But it’s also got its tail cut off!  Did Mean old 95030 bite it when they were duking it out over Monte Sereno?

Next Installment: You’ll be on the edge of your seat wondering if Sunnyvale makes the next cut!  Only on Burbed!!!!

Comments (14) -- Posted by: madhaus @ 5:05 am

October 2, 2010

We’re #1! San Jose beats New York! MOST EXPENSIVE!

NY-area rents are not as high as one might think

Grumble, if you will, about high rents and warren-like apartments. Just be glad you don’t live in San Jose.

It may be little comfort, but the New York metropolitan area is not home—as a renter might think—to the highest rents in the country. That distinction goes to the San Jose metro area in northern California, where gross median rents cost $1,414, making it the most expensive in the country. San Francisco came in second, followed by the Washington, D.C., area, according to the U.S. Census Bureau’s 2009 American Community Survey released Tuesday.
The New York metro area, which includes northern New Jersey and Long Island, was sixth. Median gross rent was $1,125 a month. The median rent in the city alone was $1,086.
Congratulations San Jose and San Francisco!!!
Woohoo! I’m so proud! I knew we could beat New York!
Take that Wall St! We’ve got Sand Hill! Take that Fifth Avenue! We’ve got Stevens Creek Blvd!
Next stop: Most Expensive Region in the WORLD!!!
Comments (11) -- Posted by: burbed @ 5:28 am