Here’s some copy that ought to have originated on Burbed. But this is from from the San Jose Mercury News, or as the journos now call it, I Can’t Believe It’s Not Newsletter! Thanks very much to Burbed reader Petsmart Groomer for calling this out in the Open Thread yesterday.
By Patrick May, San Jose Mercury News Posted: 04/09/2011 4:52 PM
The median price of a previously owned single-family home in America today is $157,000. What can you get for that in the Bay Area?
Here, where the median is nearly three times higher than the national, $157,000 will get you a 460-square-foot house in East Palo Alto that would fit inside a Saratoga walk-in closet. Or a two-bedroom in Antioch with mold, a squatter’s mattress in the kitchen, the oily remnants of an amateur grease-monkey operation out back, and what looks like a bullet hole dead-center in the front window.
“Bring your tools & imagination to shine this piece of property,” the Realtor wrote on the online real estate site Redfin.
Want to spend that $157,000 on a San Jose bungalow on North 13th Street?
OK. So there’s one small problem.
“Burned house,” says the real estate agent’s MLS note. “Don’t go in!”
Photos: Top right, 460 sf East Palo Alto house, Josie Lepe, SJMN. Above left, SJ burnt house on 13th Street has received several offers. Karen T Borchers, SJMN.
Wow, CAR (California Association of Realtors) must be pulling a Fry’s on the Merc for running this story. Bet they’re going to pull all their advertising for weeks! Nope, the Merc pulled this story within hours of posting it. In fact, the link above is to the mobile site, because it’s gone from the regular one (and if the mobile link doesn’t work, try this link to a cached copy from the Pasadena Star News.
But no problem, we’re going to find all the sites in this story and maybe even write them up in the coming days. Meanwhile, what do you think is going to happen to Patrick May?
Update: This article mysteriously appeared yesterday afternoon for a few hours and then was thrown down the memory hole. It’s back so I’ve changed the link, and also added the Merc’s pictures. Too bad they didn’t take some inside the SF house.
This cozy charmer is at 2169 Addison Ave, East Palo Alto, weighing in at 460 square feet. Owner selling it only to establish a market value with bank so they’ll modify his loan. Sold in 2003 for $278,000!
$157,000 will get you two homes in Antioch! 1117 Klengel Street, listed for $78,000, and conveniently bank-owned. Bonus: Sold for $95,000 in… (drumroll) 1993!
Then take a look at 36 Texas Street:
Yes, it comes with roosters next door and a guy down the street dismantling his motorcycle on the front lawn. And yes, you’ll have to clear out that squatter’s mattress from the kitchen. And maybe, with all that motor oil soaked into the back yard, you’ll need the Environmental Protection Agency to sign off on the deal. But for $69,000, what do you expect?
A pre-heated house at 642 North 13th St. San Jose, plus agent had to threaten to Taser a squatter. Price: $166,900. The catch: Foreclosed in December for $350,000, and sold for $217K. In 1998. DAYUM, IT’S PENDING!
Vertigo house in Bayview-Hunters Point. 1482 Underwood Ave, SF. “The easiest way to repair it is to tear it down.” Price: $145,900 “The house is all crooked,” said realtor Alyce Cardinale. Sold for $250K in 2000, foreclosed in 1997 and again in 2008!
Hayward Contractor’s Delight, whoops the agent calls it “Carpenters Delights!”; train goes by every ten minutes. 22026 Western Blvd, Hayward. Price: $155,000, originally listed for $189,000.
“It’s a fairly quiet neighborhood. Except for the train every ten minutes.”
Which one of these bargains will you be writing a check for?
Left, front of the house on Western Boulevard. Right, agent David Ormonde shows door to garage from the kitchen in the Western Boulevard property. Photos, Karen T Borchers, SJMN.