August 28, 2012

Loaded with CHARM! in New Almaden! Needs many newer updates! And more exclamation points!

We’re heading south today, for a look at this New Almaden NODder. Thanks very much to Burbed reader nomadic for keeping an eye on what’s in shadow inventory, and what’s trying to stay in the sunshine.  Let’s see how shortly this spread will be selling.

20891 ALMADEN Rd
San Jose, CA 95120
$975,500

120827-almaden-redfin

120827-almaden-carport$975,500 Price
4 Beds
3 Baths
2,888 Sq. Ft.
$338 / Sq. Ft.
Built: 1920
Lot Size: 1 Acre
On Redfin: 161 days
Property Type: Detached Single Family
View: Canyon
County: Santa Clara
Stories: 1
Community: Almaden Valley120827-almaden-porch
MLS#: 81210207

Magical one-of-a-kind Historic Home in New Almaden! Unique historic home is loaded with CHARM! Huge porch, formal living/dining room, family room, 4 bed/3 bath (2 master suites) w/ an updated country kitchen and a workshop on a 1 acre lot. Needs a tiny bit of TLC and many newer updates! MUST SEE! Get more info: TEXT “71699” to 79564

Get more info by texting!  Because there’s only so much info you can fit on the internet.  But text messaging?  Hope you’re on the unlimited plan.

Why did nomadic send this place in?  Let’s find out!

120827-almaden-wtf-is-thisThe listing history might inspire you.  They took an interesting approach to getting RBA returns – just HELOC it out and do a short sale for 2x the purchase price after 13 years – I wonder how much they sucked out. (After all, they won’t actually get the purchase value back out.)  I remember them trying to sell at the peak prices just after the real estate crash and thinking “good luck with that.”

What’s this?  Something about an inspiring listing history?  Redfin doesn’t have much on the old pricing, so Zillow to the rescue!

120827-almaden-price-history-zillow

120827-almaden-horsiesUh, yeah.  Good luck with that.  But on the upside, if you’ve always wanted a pony, this place is horsie-ready should your magical fairy godmother ever come through with those wishes.

Anyone have any idea why Zillow has reasonably-sized pictures and Redfin doesn’t for this property? Does it have anything to do with the agent who relisted it in July?  (See the EBRD listing in Redfin, the pictures look fine there.)  Does Zillow indicating the place isn’t for sale anymore have anything to do with that?

So many questions.  So many horsies.  So much historical mortgage equity withdrawal.  MUST SEE!

Comments (10) -- 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

March 31, 2011

Tree Fell on Home, Buyer to Verify

Burbed gets some pretty amusing listings sent in, but this one stands head and shoulders above most of them.  Or should I say it made quite an impact.  Thanks very much to Burbed reader nomadic for sharing it.  

21431 BERTRAM Rd, San Jose, CA 95120
$175,000

image

BEDS: 1
BATHS: 1
SQ. FT.: 852
$/SQ. FT.: $205
LOT SIZE: 6,348 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STORIES: 1
YEAR BUILT: 1927
COMMUNITY: Almaden Valley
COUNTY: Santa Clara
MLS#: 81104744
SOURCE: MLSListings
STATUS: Pending With Release
ON REDFIN: 56 days

SHORT SALE. Contractor Special!!! Beautiful Creek Setting. Tree Fell On Home. Buyer to Verify Allowable Re-Build With County. In A Historical District. Do Not Go On The Property!!! View From The Street. Offers are still being taken. They will be presented to 1st lender when negotiations are completed with second.

I really appreciate truth in advertising, and real estate is one field where creative descriptions (which is a rather fancy way to say “lies”) are the norm.  So a listing that calls it like it sees it is truly more than a breath of fresh air.  Observe the economy of prose that tells nothing but the unvarnished truth.

imageSHORT SALE.  Ahoy, bank trouble ahead.  Contractor Special!!! Yes, that often goes with Short Sale, usually. Lots of exclamation points, agent is excited.  Maybe agent owns a hardware store? 

Beautiful Creek Setting. That’s true, and here’s a nice picture of the beautiful creek setting.  So far, this listing reads like most of the distressed properties we’ve seen FBs lose when they couldn’t pay their bubblicious loan payments.  So, no surprises yet, but wait, there’s more!

imageTree Fell On Home.  Oh. My. Definitely. Short, descriptive, and resonant.  Hemingway couldn’t have said it better. 

Buyer to Verify Allowable Re-Build With County.  Beautiful.  A few choice words with just a hint of endless bureaucracy and red tape.  This property is a complete crapshoot: you pays your money and you may not get to do anything with it. We’ve moved from Hemingway to Kafka.

imageIn A Historical District.  See. this place isn’t a complete loss!  Here’s a lovely picture to show why you’d want an uninhabitable 1923 structure.

Do Not Go On The Property!!! View From The Street.  Now the writer injects a note of warning into what had been informative and down-to-earth beforehand.  The plot thickens!  Plus they don’t want you on the property because this is one ginormous liability suit just waiting to happen. 

imageOffers are still being taken. The listing concludes on a note of hope and perseverance in the face of adversity.

They will be presented to 1st lender when negotiations are completed with second. Hope, with a bemused eyeroll.  This admitted disaster is not only a short sale, there are negotiations with not one, but two banks.  That’s going to make dealing with the county planning department as easy as falling off a log.

Wow! Now tell us the bad news.

This listing spoke the whole truth. This is definitely a Contractor Special, in the sense that certain kids are “Special.”  View it from The Street!

with treeUPDATE: Burbed reader nomadic sent in two more pictures taken right at the site later today (3/31/11) plus some on-site commentary.  I hope they were viewed and taken from The Street as advised. 

Here’s what the tree house looks like now.  I didn’t take a long shot to show that 2/3 of the house wasn’t crushed – it appears that the front room (main living area) was flattened, but not the rest.  Too bad another picture I took was too dark to show the kitchen where one wall was missing.  There were GRANITE countertops!

firewoodIn the background you can see how massive the fallen branch was.  There is more of the same tree hanging over the next door neighbor’s house.  To be fair, I’m not sure the owner would have known what a risk there was.  The tree doesn’t look completely dead.  It’s one of those scrubby looking oaks or something.  There are many huge trees all along that street and nearly every home could have one fall on it.

Here’s the firewood pile nearby; I’m pretty certain it was the fallen branch.

The firewood had better be included for $175,000.

Comments (23) -- 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