We Resume our Regularly scheduled Blogging from A to Z Challenge today, which is Retailed to you by the letter R.  Really. Read on and Reason why Redwood City (climate best by government test) should be Respected. While this Redoubt may not be Real Bay Area, Recent Realty values have Reformed. 

And that’s a fancy of way of saying, “Buy now or be priced out forever.”  Yeah, we Repeat that one.

874 CLEVELAND St
Redwood City, CA 94061
$499,000

3 Beds
2 Baths
1,469 Sq. Ft.
$340 / Sq. Ft.
Built: 1920
Lot Size: 3,570 Sq. Ft.
On Redfin: 32 days
Property Type: Detached Single Family
Stories: 1
County: San Mateo
Style: Cottage/Bungalow
Community: Central Park
MLS#: 81308678

Two homes on one lot. First house is 2 bedrooms and back house is 1 bedroom. Fixer opportunity. Tenant 1 is paying 900 a month and tenant 2 is 750. Both month to month. Purchase subject to inspection.

Look at that. A two for one special! And even better, this Real estate is Redolent with Renters! Buy now and you’ll be Realty Royalty! 

Also, you maybe be getting “bunus” buildings with this one, because the lot looks like there’s more than two buildings Residing.

Our Response? Refi. Rinse. Repeat.

Today we’re Making the last post of the first half of this Blogging from A to Z Challenge. Today’s letter: M for Mountain View. Of course Mountain View, what other city has best Manifested Bay Area Bubble 4.0? Sure, Palo Alto can show insane prices and we can find people camped out for days to buy a condo in the East Bay.  But Mountain View has More. More Multiple offers. More Maximum overbids. More Million dollar crapshacks.

And Most of all, More close to Google.  Thanks very Much to Burbed reader LomaLuvr for this Masterpiece.

1112 BORANDA Ave
Mountain View, CA 94040
$13,000,000

16 Beds
12 Baths
25,353 Sq. Ft.
$513 / Sq. Ft.
Built: 2008
Lot Size: 0.73 Acres
On Redfin: 24 days
Stories: 2
Community: Miramonte
MLS#: 81308939

Great opportunity to own a condo mapped project . Currently run as an apartment complex. Units may be sold individually. Quality built in 2008. Great location with walking distance to Bubb elementary, downtown MV. Each high end unit is 4/3, 2100 sq ft, 2 parking spaces plus storage room, private patio and yard. Luxurious master suite with walk in closet, inside laundry. Access controlled building.

Can’t Make an onsite visit? There’s a virtual tour where all you need is to Move your Mouse. Also that’s where we learned there are 12 units in the “community.”

We chose this because it’s a Mystery. Is it 4 units for sale in a 12 unit Maze? Who gets to Maintain the controlling interest in the other 8?  How Much will you have to Milk the Planning Commission to Metamorphosize these Maisonettes into condos? Who owns the rest of the Multiple-Family Complex? How Much is too Much to Mooch for HOA?

So Many Matters to Mull over.

Reminder: It’s tax deadline today. Don’t Mistakenly Meander with the Mail.

We’ve just been alerted that we’ve been neglecting Mountain View property, which we are contractually required to discuss every ten minutes.  And it’s been ten whole days! Fortunately, Burbed reader Michael Boltonestater sent us this beaut, which we promptly misplaced during the Black Friday Sales.  Consider this a “we found it in the back of the storeroom” slightly mussed listing. It’s both pending… and selling shortly!    

492 N WHISMAN Rd
Mountain View, CA 94043
$750,000

4 Beds 
2 Baths 
1,748 Sq. Ft.
$429 / Sq. Ft.
Built: 1965 
Lot Size: 0.25 Acres 
On Redfin: 33 days
Status: Pending With Release
Stories: 1
Community: Whisman
MLS#: 81241148
View: Neighborhood
County: Santa Clara

Short Sale! Charming two unit property located in Whisman Area of Mountain View. Huff Elementary, Crittenden Middle and Mt View High. Live in one, rent the other or great investment opportunity! HUGE 10,890 sf corner Lot. R-2 zoning provides multiple use scenarios. Both units are 2 bed /1 bath w/ laundry, garage AND carport. Please DO NOT Disturb Occupants!

It’s a great investment opportunity!  That’s because the current owners are passing the savings along to you rather than the bank.  Yes, savings.  If you had bought this property in 2006, like these investors did, the RBA would have done its magic and increased it by more than half its value in just six years.  And if you were smart and leveraged yourself with a 20% down, 10% down, 5% down, or even ZERO DOWN, then your investment returns would be much, much higher! 

Let’s calculate them, shall we?

So a little over a million dollars, put down 20%, looks like that investment… is now going to be someone else’s instant equity. So, bets on the over/under compared to 2003′s sale price?  Now that provides multiple use scenarios.

It’s been far too long since we’ve checked in with East Palo Alto.  Today’s featured home, courtesy of Burbed reader Petsmart Groomer, shows that you can have luxury at an affordable price.  Remember, if you’re choosing from luxe, low, large, and location, you can usually have two.  Let’s have a look at today’s low and large!

919 RUNNYMEDE St
East Palo Alto, CA 94303
$750,000

6 Beds 
4 Baths 
3,036 Sq. Ft.
$247 / Sq. Ft.
Built: 2010 
Lot Size: 6,733 Sq. Ft. 
On Redfin: 127 days
Status: Active
Property Type: Detached Single Family
Community: East of U.S. 101
MLS#: 81228693
Stories: 2
County: San Mateo

2Homes!!2years new luxury 2 story homes * 3,000plus living space * Main unit4bed/2.5bath 2nd unit 2bed/1.5bath which is rented for $1,600 * Vaulted ceiling * This stunning property boasts a bright & open floor plan that is easy for entertaining * Gourmet kitchen with granite counter tops and stainless steel appliances * 3 car garage, Patio * 1st floor master bed W/ walking closet *

When PG sent this in, the house was simply noted as “East Palo Alto wonder.”  As, we wonder why anyone would build a house in East Palo Alto to this level of finish.  Let alone two houses. 

Then we realized that the builder either took too long to catch the last bubble, or is positioning to catch the next one.  And isn’t $750K a reasonable price to pay for 2 houses in an up-and-coming neighborhood (that is, if by up-and-coming, we really mean “last up, first down”?)  Good thing the agent is pinching pennies by not wasting them on extra spaces in the listing copy.

Also, check out how well these luxe lodgings fit in with the neighborhood!

Let the gentrification begin!  Again!

It’s that time of year, where we watch a couple of politicians make a series of speeches talking past each other, trying to convince you to vote against the other guy. In honor of last night’s Presidential debate, we have two homes for your consideration.  Let us know which one you think is the “winner.”

Wearing the green trim, this house from the powerhouse of Palo Alto is either rolling out the red carpet or sticking its tongue out at you.  It confidently flies the Redfin flag.

253 ADDISON Ave
Palo Alto, CA 94301
$889,000

2 Beds 
1 Baths 
1,164 Sq. Ft.
$764 / Sq. Ft.
Built: 1933 
Lot Size: 6,272 Sq. Ft. 
On Redfin: 147 days
Property Type: Detached Single Family
Stories: 1
Community: Downtown
MLS#: 81217474
Style: Cottage/Bungalow
View: Neighborhood
County: Santa Clara

TFT. Leasehold. $100,000 Reduction. Charming 2 Cottages on Beautiful Roses Garden. Walk to Downtown Palo Alto. Hardwood Floor. Double Paned Windows. French Doors in Living Room Open to Dinning Room. Sun Room with Custom Built-In Bench. Remodeled Kit & Bath with Stone Slab Counters. Fruit Trees. Mo/Mo Rental for Back Cottage. Leased Land w/ 54+yrs left. Downtown Living at a DISCOUNT!Better Alternative than Condo.

And built like a brick… um, chimney, this entry in hot, hot, HOT Mountain View won’t pull out of the debate just because the agent pullled its listing.  We found photos on Zillow, so all is fair.  And it also welcomes you to the debate, giving you two different welcome walkways!

60 Starr Way
Mountain View, CA 94040
Not for Sale

Zestimate $905,916
Rent Zestimate $2,581/mo

Beds: 2
Baths: 1
Sqft: 1,049
Lot: 6,875 sq ft / 0.16 acres
Type: Single Family
Year built: 1949
Construction quality: 6.0
County: Santa Clara
Garage sqft: 360 
Last remodel year: 1949 
Legal description: TRACT 261 BROOKDALE BOOK 13 PAGE1 10 PAGE2 11 LOT 51
Lot depth: 125 
Lot width: 55 
Parcel #: 18904021 
Per floor sqft: 1,049 
Total rooms: 4 
# Stories: 1 
Structure type: Other 
Unit cnt: 1 
Zillow Home ID: 19529422 

Developers Dream! This 2 bedroom 1 bath, home sits on a6,800sqft lot with plenty of potential. Located in a prime location of MountainView with nearby shopping on Castro Street. Looking for a fixer upper Location,Location, Location! Bring your hammer, nails and imagination!

Starr starts out with a trash bin.  That’s going to be tough for Addison to counter with just a rented cottage in the back “yard.”

But wait, Addison’s on leased land!  Try finding any of that in Mountain View! Even Google hasn’t dared that trick to sneak employee housing by the City Council!

What’s Starr going to do now?  Oh, oh, speaking of Google, it’s reaching for teh interwebz, and… here’s the Redfin page!

That one’s going to leave a mark.  Streetview trashbins, plus it’s not for sale at any price. And when it was for sale, the asking price was $800,000.  That means $762 a square foot, or essentially the same as Addison.

And the winner is… which listing copy interrupted more?

Here’s a property coming on the market that you don’t see every day.  The Cats estate in Los Gatos is for sale.  It’s right off Highway 17 just a mile south of downtown Los Gatos, next to the The Cats Restaurant & Tavern.  Thanks very much to Burbed reader Kir from Inside Los Gatos for passing this item along.

More info, and videos, are at the agent’s site.  The property is nine separate parcels consisting of over 75 acres of land, with three different originally built houses.  Views galore, of course.  It can be yours for $8,995,000.

Facts and Features

Main House:

3985 Square Feet
Built in 1925
5 Bedrooms
4 Bathrooms
Remarkable Valley Views
Finished Basement-perfect for wine cellar
View Amphitheater
Terraced Courtyard
Famous collection of notable “attached” art work

Additional Buildings:

The Gatehouse
The Poet’s Cottage
The Ranch
The Geodesic Dome
The Teacher’s House
…more

Additional Features:

Gated entry featuring the famous Stone Cats
Riding/biking trails
Poet’s Canyon
The secret benches
The round bench
Superb acreage for horses
Natural splendor, a photographer’s paradise
Natural springs
Suitable for vineyards
Mountain, valley and lake views

Chain of ownership:

1920-1955
Charles Erskine Scott Wood & Sara Bard Field
1955-1960
Fred G. Hampton
1960-Current
Ogilvie Family

Does nine million seem like the right price for a property like this?  Think of all the fun you’ll have with everyone who ever knew you in elementary school dropping by because “they were in the neighborhood.”

This is the gatehouse above right.  Below is the main house.

All these pictures were snagged from the videos on Duane Adam’s site.  Below left is a view inside the main house, and below right is the Poet’s Cottage.  The latter gives just a taste of the views from the property.  Plenty more in the videos, plus footage from the 1930s!

Watch the daughter of the current owner get all choked up over the property being sold.  She says whoever gets the property will be “very lucky,” so why didn’t they price it at $8,888,888?

One thing we did discover that isn’t on Adam’s site: the actual address.  If you bought the Cats Estate, you’ll be receiving your mail at 17525 Santa Cruz Hwy, Los Gatos, CA 95033. 

We’ve dropped by the Buena Vista “Mobil Home Park,” the only trailer park in Palo Alto, a few times.  But Burbed reader Stefan alerts us that the much-maligned mobile mews may be moving on.  Thanks very much!

Burbed reader Real Estater also mentioned this article in comments.

Palo Alto mobile-home park faces redevelopment

Buena Vista residents could be forced out to make way for apartments

by Sue Dremann, Palo Alto Weekly Staff

Buena Vista, the only surviving mobile-home park in Palo Alto, could soon be history, according to city officials.

Residents in the 117-unit park located at 3980 El Camino Real received a letter from property owner/manager Joe Jisser last week informing them that his family is exploring redevelopment options.

The family has owned Buena Vista, located near Los Robles Avenue behind a strip mall, since 1986, Jisser said on Monday. They are working with Prometheus Real Estate Group in San Mateo.

Prometheus specializes in the acquisition, development and management of residential and commercial properties and builds apartments, according to its website. It also focuses on transit-oriented development in areas that are close to corporate campuses, such as Apple in Cupertino and Google in Mountain View.

You think 15 units per acre is too dense for Palo Alto?  Promethius Development has many more rent-paying people per parcel planned for what they’re putting in.  Try 40 units an acre.  If you’ve read this book, just imagine life in The Stacks (which are literally mobile homes stacked into slum towers).

Why is the owner finally considering selling out, after owning the park since 1986?  Infrastructure.  Water pipes and electrical wires and transmission are nearing the end of their useful life, and state codes have changed.  It isn’t enough to replace them, they’d have to be upgrades.  Not only that, most of the mobile homes in the park are too old to handle new systems.  And not only has the electrical code changed.  So has the law on spacing the units themselves.  Keeping the park legally open is going to become very, very expensive.

Meanwhile, the City of Palo Alto has a plan for development, and that includes multifamily homes along El Camino Real.  So apartment blocks are looking pretty likely.  And the low-income folks living here may well be SOL.  There is a city law that says they should get moving-out money, but realistically, there aren’t a lot of places they can go.  Many of them will move out in advance of the paid relocation, simply to ensure finding subsidized housing elsewhere.

Be sure to check out the comments on this article.  Some posters are glad to see the park go, and some prefer it stay in favor of a denser apartmentplex.  Of course most of them are worried about all those extra kids moving into THEIR SCHOOLS.  Because anyone moving into an apartment isn’t a Real Palo Alto Resident and should never be allowed to enroll.  We can’t understand why the trailer trolls are allowed, either.

But fear not.  Even if the BV is scraped to the ground and a shiny new (and dense) apartment complex goes up in its place, there will always be mobile home living in Palo Alto.

Everyone loves a flip!  That is if by everyone we actually mean Burbed readers who enjoy realty fail that happens to someone else.  Thanks very much to Burbed reader Michael Boltonestater for this awesome apartment arrangement!

2033 LATHAM St
Mountain View, CA 94040
$5,900,000

— Beds 
— Baths 
13,530 Sq. Ft.
$436 / Sq. Ft.
Built: 1958 
Lot Size: 0.59 Acres 
On Redfin: 20 days
Stories: 2
County: Santa Clara
Community: San Antonio
MLS#: 81230709

Quality 26 Unit Apartment Complex in desirable Mountain View location. Unit Mix of (4) 2 bedroom 1 bath units and (22) 1 bedroom 1 bath units. Property has been very well maintained and has been significantly renovated by its current owner during 2011 & 2012. Attractive curb appeal, apartments open out to a beautifully landscaped central courtyard w/ deck and BBQ. Ext. painted 2011. 25 Apts have DW

If a single family residence flip is good, then this is 26 times better!  Especially because the seller isn’t going to bore you with a bunch of pictures of the interior, when you have no intention of ever living there.

The photo on the right is the only one that matters.  Flip on, Garth!

Who wants to make a small fortune in real estate?  You know what to do: start with a large fortune.  That is, unless you’re investing in Real Bay Area real estate.  Then all you have to do is let the checks roll in while the property appreciates every single minute!

Thanks very much to Burbed reader Michael Boltonestater for this bodacious apartment block in… of course!  Mountain View!  In case you haven’t already noticed, we’re giving Mountain View a lot of extra love for three days in a row.  Why?  Because we didn’t talk about them once last week!

1720 WRIGHT Ave
Mountain View, CA 94043
$2,200,000

BEDS:  -
BATHS:  -
SQ. FT.:  8,120
$/SQ. FT.:  $271
LOT SIZE:  0.55 Acres
STORIES: 2
YEAR BUILT:  1969
COMMUNITY:  North Shoreline
COUNTY:  Santa Clara
MLS#:  81228487
SOURCE:  MLSListings
STATUS: Active
ON REDFIN:  9 days

The units are unusually large, averaging 902 square feet. They offer private backyards and balconies that face an expansive green space protected by the city. Built on over half an acre the land offers the investor a very strong long-term investment as both a rental property or a for sale redevelopment opportunity. The property is less than a mile from a number of major Mountain View employers.

Every real estate purchase is an opportunity in the RBA, and this is a great example.  We particularly like the realtard’s 100% correct but absolutely useless claim that the units average 902 square feet. The listing info says the building has eight one-bedroom apartments, each 865 square feet, and one 2/1 apartment, weighing in at 1200 sf. 

Are you on the fence about buying this place?  So’s the math!  The Gross Rent Multiplier is 15.03, right in between buy versus rent.

And speaking of opportunity, check out the location!

Looks like you’ll have a front row seat on whatever’s going in that right-of-way!  Maybe if you’re really lucky that’s the alternate route for High Speed Rail!

Let’s continue our trip up and down the housing food chain.  Earlier this week we had a genuine crapbox.  Yesterday we had a mid-priced property in a neighborhood without a name (and it really says something for the Silicon Valley housing market that a million dollar property in an unremarkable part of San Jose is considered mid-priced at a million dollars).

Today we’re back to another Burbed favorite: the non-moving high end.  Thanks very much to Burbed reader Petsmart Groomer for this lovely landscape in Los Altos Hills.

12859 NORMANDY Ln
Los Altos Hills, CA 94022
$6,195,000

BEDS:  6
BATHS:  6.5
SQ. FT.:  7,333
$/SQ. FT.:  $845
HOA DUES:  $300/month
LOT SIZE:  1.21 Acres
PROPERTY TYPE: Detached Single Family
STORIES: 3
VIEW: Neighborhood
YEAR BUILT:  2005
COMMUNITY:  Los Altos Hills
COUNTY:  Santa Clara
MLS#:  81216432
SOURCE:  MLSListings
STATUS: Active
ON REDFIN:  90 days

This stunning custom home is a masterpiece of East Coast-influenced architecture. The main residence features, 5BR/5.5BA + wkout rm (could be 6th BR), private office, a Media rm, large recreation rm & sep wine cell. Darling 1BR/1BA gst hs. Gorgeous landscaped grounds w/ sparkling pool/spa, exceptional terrace w/ fireplace, outdoor kit. & fountain. Detached 3-car gar w/ large workrm. Close in location

Other than the mildly radioactive trees on the grounds, this housing tumor photographed nicely.  There is the matter of the $300 homeowner’s association fees, not something one expects with a six million dollar property. 

Wonder just what the Normandy Lane Association gives you for the privilege?  Maybe they send someone over every month to spray paint the sod this exact shade of green not otherwise found even on a golf course.

And the reason PG sent it in?  Location, location, location!