June 11, 2013

Attention all first-time buyers!

Let’s find out what affordable housing looks like Close to Facebook!  Here’s a honey of a house from Burbed reader Petsmart Groomer. Thanks very much… we think.

130611-wisteria-redfin143 WISTERIA Dr
East Palo Alto, CA 94303
$375,000

3 Beds
1 Baths
1,060 Sq. Ft.
$354 / Sq. Ft.
Built: 1952
Lot Size: 5,000 Sq. Ft.
On Redfin: 6 days
Property Type: Detached Single Family
Stories: 1
Community: East of U.S. 101
MLS#: 81319639
Style: Traditional
View": Neighborhood
County: San Mateo

Attention all first time buyers!!! Diamond in the rough!! "The Gardens Home" Hardwood floors throughout, 3 bedrooms, 1 bath, 1060 square feet on a 5000 square foot lot. Minutes from highway 101, Dumbarton and IKEA. This is a great started home in a well maintained neighborhood!!!

Check it out!

130611-wisteria-side130611-wisteria-floor130611-wisteria-back

Great started home indeed!  Plus, we got 3/4 of a Dude Hanging Out in that… um…guest house.  Which we are absolutely sure has all required permits.  Uh huh.

Comments (7) -- Posted by: madhaus @ 5:09 am






June 9, 2013

We’re Number 8! We’re Number 8!

130608-trulia-sanjoseYes, another danged list! This time San Jose is #8 on the Least Affordable Housing Market list created by Trulia. Not only that, Oakland and San Francisco are ranked even better!  Let’s have a look, and also at this article that referenced the Trulia list.

Thanks very much to Burbed reader Petsmart Groomer for sending in the second article.

 

Rank US Metro % of monthly avg wage to pay mortgage YOY % change in prices
1 Honolulu, HI 74% 12.8%
2 San Francisco, CA 55% 19.6%
3 Orange County, CA 44% 21.2%
4 Ventura County, CA 41% 15.4%
5 Los Angeles, CA 41% 17.4%
6 (tie) San Diego, CA 37% 16.8%
6 (tie) Oakland, CA 37% 31.2%
7 (tie) Long Island, NY 35% 1.1%
7 (tie) New York, NY-NJ 35% 4.6%
8 San Jose, CA 33% 23.2%

Affordability is measured as a mortgage payment at 3.8%, 30 year fixed, on an 1800 sf home at median price per sf divided by local average monthly wage for a worker.

130608-trulia-oaklandNot only that, Oakland and San Jose metros are the 1-2 punch of year over year housing price increases, greater than every other Top 100 metro that Trulia examined.  San Francisco is also showing frightening gains at 19.6%, right behind Orange County.

But remember, 8s are very, very lucky.  Tell us how you feel about so many California cities on the Least Affordable List?  Are you going to keep renting or are you determined to get out there and overbid?

130608-trulia-pineappleThe Wall Street Cheat Sheet piece conveniently left our old nemesis Manhattan and environs off its list by completely ignoring it. After all, if you can’t increase housing prices by double digits, what the heck are you doing calling yourself unaffordable?

Now, what are we going to do about Honolulu? We’d better get those median housing prices up past a million in at least 15 more cities by next week!

Comments (6) -- Posted by: madhaus @ 5:04 am

April 21, 2013

Open Houses, Open Threads, Open Minds, Open Wallets

130420-fallon-redfinToday is Sunday! That means better hurry up and make the most of Spring Bounce by visiting as many Open Houses as you can today.  It also means we put the alphabet away until Monday.

This particular house on the left isn’t listed as Open and probably won’t be, because it’s selling shortly.  The bank knows a lot more about it than the FB who wasn’t getting the monthly nut met.

130420-fallong-psychic

130420-fallon-tower130420-fallon-crisisAnd you don’t have to be a psychic to get that banks expect mortgages to be paid back.  Too bad this resident didn’t sense that sudden change in their domestic affairs. 

Here’s the most real estate-related card in the Tarot.  The Tower represents sudden change, release, downfall or revelation. Yes, that definitely sounds like a ride on a Bay Area Real Estate Bubble.

Thanks very much to Burbed reader Petsmart Groomer for observing the inherent contradiction in that listing photo.

This is an Open Thread. Share your predictions of where home prices are headed.  Or we’ll just post them for you as we shuffle the cards.

Click here to post a comment -- Posted by: madhaus @ 5:02 am

April 8, 2013

Goose-egg in Gables End

BlogAtoZ-GWe’re back with our second week of the Blogging from A to Z Challenge, so let’s resume! Today’s post is brought to you by the letter G. And when we hear G on this blog, we think of our absolutely positively favorite development eveh! That’s right, G is for Gables End! Thanks very much to Burbed reader Petsmart Groomer for Guaranteeing Gables End will always be one of our Guideposts.

If you’re a new reader to Burbed, you may not have heard of this townhouse complex before. Gables End was built right at the end of the Bubble, on some land that was under the Gentle Guidance of the EPA, but the development sold out anyway.

Why? Close to Google!

130407-donovan-redfin851 DONOVAN Way
Mountain View, CA 94043
Sold for $740,000

3 Beds
3 Baths
1,352 Sq. Ft.
$547 / Sq. Ft.
Built: 2008
Lot Size: —
Sold On: Mar 6, 2013
HOA Dues: $197/month
Stories: 1-3 (Low Rise)
County: Santa Clara
Property Type: Townhouse
Community: Rengstorff
MLS#: 81305251

Fabulous newer townhome! Wonderful floor plan with lots of natural light throughout. Open kitchen has granite counters & ample cabinets, spacious living room w/ large windows, wood flooring throughout main level, crown molding & decorative touches throughout. High ceilings. Lots of storage both inside & in the attached 2 car garage. Close to park, shopping & freeway access. Don’t miss!

130407-donovan-livingWe all missed it! Gone in four days!  And Given our Generous coverage of the Gables End Gin-up, watching a resale Generate a Greater fool buyer at 9.6 percent above asking price just brings tears to our collective eyes. And it’s no Glitch! Here’s another Gables End unit, asking $719,000, virtually Given away for $805,000!

You Get it, even Gables End is now part of the Greater RBA. Oh, this is just so Gorgeous.

Comments (8) -- Posted by: madhaus @ 5:09 am

March 11, 2013

So awesome in SF… there is no asking price

What do you think? Typo, toxics, or TERRIFIC OPPORTUNITY?  Buy now, at a LUCKY PRICE!  Thanks very much to Burbed reader Petsmart Groomer for this superlative steal in San Francisco!

130310-eddy-redfin430 Eddy
San Francisco, CA 94102
$8

— Beds
— Baths
— Sq. Ft.
Built: —
Lot Size: 6,356 Sq. Ft.
On Redfin: 25 days
Property Type: Lots & Acreage
County: San Francisco
Community: Tenderloin
MLS#: 404942

2 lots; 430 Eddy St. & 519 Ellis St. There were previous approvals for 46 Senior Units. Approvals are expired. Offers will be reviewed on or after March 15th. There is no asking price. Seller reserves the right to reject any offer.

Whoa.  This is so different than all those other real estate deals where the seller has to take any offer, no matter how ridiculously insulting.  Like, say, $8 for two lots in San Francisco.  And not the part way the heck out by the fog, either.  No, this is in the Tenderloin, the sweetest neighborhood of all!  Now, let’s have a look at what they’re selling and forgot to photograph.

130310-eddy-streetview

Yesssss! Score! Trash bins!

130310-eddy-ellis-sv

See that big red Pin with an A on it? That’s A for Approvals Are Expired, so their loss is your gain! Start your overbidding now!  You know why you should invest in this area?  It’s a growth opportunity!

130310-eddy-bedbugs

Comments (4) -- Posted by: madhaus @ 5:01 am

March 6, 2013

Bay Area Bubble 4.0: The Old is New Again

We’re covering the housing bubble 24/7 now that everyone’s paying attention to real estate again.  Today we have a lovely home in Redwood City that you may have seen before.  Take another look, while you still can!  Thanks very much to Burbed reader Petsmart Groomer for an excellent surveillance operation.

130305-esther-redfin715 ESTHER Ln
Redwood City, CA 94062
$450,000

2 Beds
1 Baths
750 Sq. Ft.
$600 / Sq. Ft.
Built: 1929
Lot Size: 4,790 Sq. Ft.
On Redfin: 33 days
Property Type: Detached Single Family
Stories: 1
Community: Cordilleras Heights
MLS#: 81303054

Beautiful view of bay and city lights. Additional 6900sqft lot to be sold with the property. The additional 6900 sq ft parcel of land CANNOT be developed upon per city and county building department. Building square footage 1130sf on public profile is incorrect, actual living area is about 750sf, Fixer-upper Sold "As Is" may not qualify for FHA.

This house’s list of tag may be bigger than it is.  Not only that, it has a history!

130305-esther-reprise-120620

Here’s something it didn’t have last year (besides an extra hundred thou of instant equity you get now!): Redfin Agent Insights!

130305-esther-redfin-agent

“Dead End,” “Completely gutted” and “Killer Views,” three phrases that don’t go well together after watching certain movies.  How about Zero Dark Thirty?

Comments (9) -- Posted by: madhaus @ 5:09 am

February 5, 2013

Contemporary Home/High Tech HQ/Auto Showroom/Cultural Center/MLM Offices

Today’s building is not only in soooo prestigious Woodside (home of the record-breaking $117.5 million property sale), it’s got a look that makes it so much more than merely a trophy home.  Plus it’s just steps away from cosmopolitan Redwood City!  Thanks very much to Burbed reader Petsmart Groomer for this superb structure.

130204-cinnabar-redfin240 CINNABAR Rd
Woodside, CA 94062
$14,800,000

4 Beds
5 Baths
8,669 Sq. Ft.
$1,707 / Sq. Ft.
Built: 1991
Lot Size: 3.01 Acres
On Redfin: 131 days
Status: Active
Property Type: Detached Single Family
Stories: 3
Community: Woodside Hills
MLS#: 81235457
Style: Contemporary
View: Bay, City Lights
County: San Mateo

MODERN HIGH-TECH HOME ON 3+ PRIVATE ACRES WITH SWEEPING 130204-cinnabar-groundsVIEWS OF SF BAY, EAST BAY HILLS & STANFORD. 2-STORY LR W/ WALLS OF GLASS ORIENTED TOWARD THE VIEW; FLOATING STAIRCASE, FULLY CUSTOMIZED LIBRARY AND OFFICE; 4 BED PLUS 2 MULTI-ROOM APTS; ELEVATOR; 21 KW SOLAR SYSTEM, UNDERGROUND GARAGE; 12′ CEILINGS IN BASEMENT; GROUNDS W/ INFINITY POOL, SPA, TERRACES, PLAYGROUND, PUTTING GREEN, FIREPIT

12’ CEILINGS IN BASEMENT? Unless there’s a squash court in there, why would you need the basement floors so deep?  Was this a former mausoleum but they’re just not copping to it?

And have a good look at the aerial shot: as PG so aptly notes, all those smaller lots are Redwood City in your backyard.  Don’t worry, despite bordering your property, they can’t get to your street.

130204-cinnabar-satellite

It’s the FLOATING STAIRCASE that scares them away.

Comments (4) -- Posted by: madhaus @ 5:09 am

January 30, 2013

Only $1.5 million in Portola Valley? No Way (side)

Today we have a real purty property in Portola Valley.  You know how we love expensive crap? Just crossing into this high-falutiin’ district will make your wallet squirm.  It’s expensive here even if the land doesn’t have a house.  So for this low (for PV) price, you know today’s feature will be good.  That is, if by “good” we mean something not so good.  Thanks very much to Burbed reader Petsmart Groomer for this find.

130129-redfin-wayside211 WAYSIDE Rd
Portola Valley, CA 94028
$1,499,000

3 Beds
2 Baths
2,340 Sq. Ft.
$641 / Sq. Ft.
Built: 1925
Lot Size: 0.41 Acres
On Redfin: 190 days
Status: Active
Property Type: Detached Single Family
Stories: 2
Community: Santa Maria/Russell Area
MLS#: 81227542
Style: Contemporary
View: Neighborhood
County: San Mateo

There are no remarks available.

Take it away, PG:

No wonder people outside the Bay Area think we are insane. Even with a Ferrari in the garage (picture #18), I can’t see the value in that one.

130129-wayside-kitchen130129-wayside-mbr130129-wayside-gym130129-wayside-garage

Sometimes, when life hands a real estate agent lemons, it’s best to keep one’s mouth shut. The eager buyer will bring the water, sugar and ice — then beg to be sold lemonade.

Comments (6) -- Posted by: madhaus @ 5:02 am

January 15, 2013

(2)Lots (2)Custom Homes. (Sold Together)

Want to be a real estate mover and shaker? Start today by buying this property that features 2, yes (2) lots!  Think of all the ways you could take advantage of this amazing zoning opportunity.  Thanks very much to Burbed reader Petsmart Groomer for sending us this salubrious spread in Santa Clara!

130114-pruneridge-redfin2710 PRUNERIDGE Ave
Santa Clara, CA 95051
$1,575,000

4 Beds 
3 Baths 
2,254 Sq. Ft.
$699 / Sq. Ft.
Built: 1961 
Lot Size: 10,270 Sq. Ft. 
On Redfin: 6 days
Status: Active
Property Type
Detached Single Family
Stories: 1
Community: Santa Clara
MLS#: 81300520
Style: Ranch
View: Neighborhood
County: Santa Clara

(2)Lots for Sale With Building Plans for (2)Custom Homes. (Sold Together) Lot #1 APN 294-32-041: 4Br/5Ba, 2 Story Custom Home:3,454s. f. with (2)Car Garage. Lot Size: 8,614s. f. Cupertino Schools!! Lot #2 APN294-32-042: 4Br/5Ba, 2 Story Custom Home: 3,243s. f. with (2)Car Garage. Lot Size: 8,002s. f. Santa Clara Schools. (Lot Lines Adjusted per S. F. )Existing 4Br/3Ba Home Encroaches on New Property Line.

130114-pruneridge-lotlinesWow, was that listing copy written by an attorney who doesn’t want anyone to notice the details? Or perhaps a claustrophobic, because whoever typed that in is afraid of spaces.  Now let’s have a good look at this opportunity with an existing 52 year old house that encroaches on New Property Line.

The red line appears to be for Lot #1, the bigger 8614 sf parcel. As you can see it cuts through the east side of the existing house, but fortunately, it did not bring the cooties of Santa Clara Schools all the way to the front door.

Yes, we hope you noticed that Lot #1 is Cupertino Schools and Lot #2 isn’t.  But wait! There’s more!

130114-pruneridge-satellite

See those little words in the driveway?  Yes, technically your driveway is an actual city street that ends a few feet before the back fence.  Here’s another look at the neighborhood.

So not only do you have one house with several inches on the other lotline, you also have a named city street taking up most of it.

How are you going to design your way out of this configuration?  We assume one of the lots boasts a Portal to Hell for extra storage.

One other solution: Street Fair Every Day.  Now we’re talking Serious Opportunity!  Call up some of those Gourmet Food Trucks, have them kick back some of the take, and you’ll be paying this place off in no time. 

Bunus: Santa Clara Utilities for all!

Comments (10) -- Posted by: madhaus @ 5:09 am

December 27, 2012

Milpitas property well maintained and is ready for its new owners

Let’s continue with our post-Christmas clearance sales!  Today’s fabulous find is in the fantastic framework of Milpitas, or as its fun-loving denizens call it, “What’s that smell?”  Thanks very much to Burbed reader Petsmart Groomer for flipping this one forward.

121226-clear-redfin1568 CLEAR LAKE Ave
Milpitas, CA 95035
$359,000

HOA Dues: $270/mo. 
2 Beds 
1.5 Baths 
1,008 Sq. Ft.
$356 / Sq. Ft.
Built: 1971 
Lot Size: 810 Sq. Ft. 
On Redfin: 21 days
Status: Active
HOA Dues: $270/month
Stories: 1-3 (Low Rise)
County: Santa Clara
Property Type: Townhouse
Community: Milpitas
MLS#: 81242591

Property well maintained and is ready for its new owners.

Or as PG notes:

It’s ready for a new agent too.

Oh don’t be such a stickler, Petsmart.  Just because the front image took a little rotation ride doesn’t mean the agent isn’t a knowledgeable professional.  Let’s enjoy the rest of the photos.

121226-clear-patio121226-clear-plants

Excellent.  Start with the exterior shots first and then lure your customers in.

121226-clear-bedroom121226-clear-dining

Here the agent skillfully picks up the wooden texture of the bed frame in both the dining room set and the beautifully shining hardwood floor.

121226-clear-kitchen121226-clear-living

Contextual linking continues in subtle ways with the kitchen towels suggesting whimsy, supported by the colorful devil-may-care display on the coffee table.

121226-clear-entry121226-clear-sink

Now it’s your turn.  Do you see the ingenious way the agent finds elements in common from the living room entry to the bathroom sink?  And nice job leaving out the throne entirely. You’d be surprised how many amateurs not only include it but have the seat raised high.

121226-clear-plants-plants-plants121226-clear-satellite

Ending the photo show with nature at her most bountiful, we also note this property has a location, location, location (!) in a popularly-populated planning potpourri!  You can find everything here!

Comments (7) -- Posted by: madhaus @ 5:05 am