May 25, 2011

Something is rotten in the state of… Delaware?

Sale Pending (MLS-listed)
Listed at: $199,000

Beds: 1
Baths: 1
Sq. Ft.: 740
$/Sq. Ft.: $269
Lot Size: 5,500 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1912
Community: Parkside
County: San Mateo
MLS#: 81120671
Source: MLSListings
Status: Pending With Release

On Redfin: 9 days
1bd/1ba land value only. Please do not disturb occupants.

That looks like a pretty fine house. I wonder what’s wrong with it.

But here’s what Burbed reader Sam wanted to bring to our attention:

I see this kind of thing from time to time- a short sale property that goes pending the same day it is listed.  I have to wonder how the underwriting bank- who is taking a loss on this kind of transaction- can permit this to happen.  Of course, the bank may not agree to the sale, but if they do it sure smacks of some kind of rigged game/insider shenanigans. Since sunlight is said to be the best of disinfectants, I’m hoping that burbed can shine some light on what appears to be something rotten.

Let’s look at the history real quick:

image

Looking at this listing, what I see is that the listing price is $199k. But we’ll have to wait and see what the final selling price is! Will be $500k? $750k? $1M?

Only time will tell…

Comments (12) -- Posted by: burbed @ 5:40 am






April 15, 2011

As seen on Flip This House: Outstanding Remoldel

Thanks to Burbed reader Sam for this “very unique” find in San Carlos.

790 BUCKLAND Ave, San Carlos, CA 94070
$1,049,000

image

BEDS: 4
BATHS: 3
SQ. FT.: 1,965
$/SQ. FT.: $534
LOT SIZE: 7,565 Sq. Ft.
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: Bi/Split Level
VIEW: Bay, Neighborhood
YEAR BUILT: 1955
COMMUNITY: Cordes
COUNTY: San Mateo
MLS#: 81113908
SOURCE: MLSListings
STATUS: Pending Without Release
ON REDFIN: 14 days

Wow!!This is a Tremendous 4bed 3 bath home. Unmatched features and wide open floor plan make this home “fit for a King” Heated bathroom floors, heated towel racks, remote control digitally controlled shower. Electrolox Icon Stanliess steele appliances with build in espresso machine makes this kitchen one of a kind. All new windows, floors, doors, Outstanding remoldel.

imageHere’s what Sam had to say about this listing:

I guess the listing agent forgot that in 2011 the “recently flipped” moniker isn’t a feature. Flip This House is sooooo 2006. But hey, it’s “fit for a King”: it has heated towel racks! It also has “Stanliess steele”. I don’t know what that is, but I’m pretty sure it would make a good porn star name.

Well, we got good news and bad news for you, Sam.  The bad news is this listing recently changed, maybe when the buyers accepted that pending without release offer.  Maybe they took away that “recently flipped” comment you mention that I didn’t find, what with my keeping your email sitting around for 2 weeks.  But the good news is that we don’t have to scratch our heads wondering what’s wrong with this place.  Redfin’s doing the heavy lifting for us!

image

Very unique!  I love very unique!  Nonconforming and weird is good too!  We’re going to love working with our Redfin overlords.  Meanwhile, check out the Google Streetview of this place!  I guess Spring Bounce means equity is rising. Something is rising, because the place doesn’t look exactly level.

image

But wait, there’s more!  Look at the listing history, OMFG!  This must be what Sam mean about recently flipped.  Plus a bonus foreclosure, this place has it all.

image

Don’t worry, Zillow’s got us covered on those missing listing prices.  Hoo-boy, can you say “Price Reduction”?

image

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Cheer up!  The house was pending back in September, 2010, and that deal fell through.  It could happen again and YOU could be the next owner!

Whoever does buy it, please replace that rug with something that doesn’t look like the hardwood floor cut open and rotated 90 degrees.  Even Stanliess steele would look better.  But nothing beats a remote control digitally controlled shower.

Comments (11) -- Posted by: madhaus @ 5:05 am

June 30, 2010

This house needs finishing touches – like walls

$429,900

image

Beds: 2
Baths: 1
Sq. Ft.: 1,110
$/Sq. Ft.: $387
Lot Size: 6,450 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1912
Community: Carlmont
County: San Mateo
MLS#: 81001900
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 162 days
CONTRACTOR/INVESTORS SPECIAL! HOME NEEDS FINISHING TOUCHES, LOCATED IN A GREAT NEIGHBORHOOD OF BELMONT, LARGE LOT. THIS PROPERTY HAS A LOT OF POTENTIAL!!

Thanks to Burbed reader Sam for this find!

Here’s what Sam had to say:

Not that Belmont is ghetto or anything, but something about this house reminds me of whistle-tips- http://www.youtube.com/watch?v=Nnzw_i4YmKk

Check out that new siding!  Dayumn!  That’s not a contractor’s special- that is modern art!  It’s a statement about the cost of conformity!  Why, oh why would the bank want to get rid of this post-post modernist masterpiece?  This is installation art taken to its next level!  I mean, hell, if a shark in formaldehdye can sell for $12M  (http://www.stuckism.com/Shark.html) this place ought to be worth at least $6M.  If this place came with some shark’s teeth, it might be worth $12M too.  Shark’s teeth are frickin cool!

To the realtor’s credit, the disclosures are made openly- “HOME NEEDS FINISHING TOUCHES”.  This kind of statement speaks volumes about perspective.  When I think about finishing touches, I think about adding outlet colors, picking color schemes, hanging drapes, etc.  These guys think about $100K remodeling jobs.
But the realtor really nails it with his/her description- “THIS PROPERTY HAS A LOT OF POTENTIAL!!”  Like potential energy.  Like potential to be blown over in the next storm.

Woot-woooooooot!

Uh, Sam… they’re practically giving this house away. All you need to do is add a little elbow grease… and some walls… and… uh… some innovation.

Personally, I think this house enables you to express your freedom. Therefore, if you hate this house, you hate Freedom. Why do you hate freedom this close to July 4th? Are you a terrorist?

Comments (7) -- Posted by: burbed @ 5:59 am

October 29, 2009

Live like a King on Queens Ct in San Carlos

138 QUEENS Ct, San Carlos, CA 94070 | MLS# 80928436
138 QUEENS Ct San Carlos, CA 94070
Price: $2,798,000

138
Beds: 3
Baths: 3.5
Sq. Ft.: 4,199
$/Sq. Ft.: $666
Lot Size: 0.55 Acres
Property Type: Detached Single Family
Stories: 2
View: Bay, Mountains, Canyon
Year Built: 2005
Community: Beverly Terrace
County: San Mateo
MLS#: 80928436
Source: MLSListings
Status: Active
On Redfin: 128 days
Breathtaking Hyde Park Estate Home!!! Walls of glass overlook astonishing panoramic Bay to Canyon views! One of a kind contemporary masterpiece! Recent 450K customization of this 3 year old home! Located on over a 1/2 acre on a quiet cul-d-sac with usable yard. This spectacular home is a one of a kind with top of the line finishes throughout!!! Open house Sunday, October 18th 1:00-4:00.

Thanks to Burbed reader Sam for this find!

Wow. Now you too can live like a King – on Queens Ct in San Carlos. Just look at all the castle-esque features. It’s got a turret with tall narrow windows to allow light to enter, but prevent angry peasants from storming your library and stealing your vintage copy of Java in a Nutshell. It’s got what could easily be converted into a drawbridge, to protect the sanctity of your home. The interior pictures reveal that it is classic, simple. With 3 bedrooms and 3.5 bathrooms, this castle is fit for either the King of Spain or the King Thailand – great for those looking to open their own Hotel for Kings(TM).

Masterpiece it certainly is. At at this incredibly low price for a castle, you’ll have plenty of money to add an X10 based boiling oil cauldron to pour on those below, build up a moat and fill it with piranhas, and eventually host your own, virtual fox hunts (involves GPS, GSM, GeForce, Google, and other fun technologies.)

You’re the king at… oh wait, that’s taken. Live like a king on Queens Ct! (Now… if only it had some marble columns!)

Comments (7) -- Posted by: burbed @ 5:54 am

May 4, 2009

Advertising price drops in San Carlos

92 MADERA Ave, San Carlos, CA 94070 | MLS# 80835403
92 MADERA Ave San Carlos, CA 94070
Price: $899,998

401244222-92
Beds: 4
Baths: 2.5
Sq. Ft.: 2,400
$/Sq. Ft.: $375
Lot Size: 6,604 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 2
View: Bay, Canyon, Neighborhood, City Lights
Year Built: 1934
Community: Beverly Terrace
County: San Mateo
MLS#: 80835403
Source: MLSListings
Status: Active
On Redfin: 221 days
Amazing price for this square footage. .. appraised at $1,234,000 in 2007. Gorgeous Bay Views. Spacious home approx 2400 sq ft. Upper level w/ adjoining family room, living room, 1/2 bath. Downstairs 4 bedrooms, office, 2.5 baths. Parquet and hardwood under upper level carpeting. Two decks. This is NOT a short sale.

Burbed reader Sam thought this was an interesting find. Here’s what he had to say:

Want to close your sale faster? Highlight a declining market!  (Ignore the 1991 $358,000 sale, roughly 600K in 2009 dollars, it’s irrelevant)

Well, actually the 1991 sales price is important. As we all know. real estate doubles every 10 years. So… by 2011 (2 years from now) it should be worth $1.432M. That makes sense. Highlighting the $1.234M (what a funny number) today indicates just how much instant equity there is available for you to unleash. And, that it is on track to reach that magically doubling number – if it weren’t for the pesky economic woes we have right now.

So get on the right track and buy this very green, very airy house today!

Thanks Sam!

Comments (78) -- Posted by: burbed @ 5:16 am

July 29, 2008

Kittie has a green surprise for you!

15 Kittie Ln, Belmont, CA 94002 MLS# 40357601 – Property Details


$968,000

* Status: Active
* Bedroom: 4
* Bathroom: 3
* Year Built: 1959
* Lot Size: 9000
* Square Footage: 1900
* List Date: 7/22/2008
* Garage Spaces: 2
Great home on tree lined street featuring 4 bedrooms 3 baths hardwood floors fdr two fireplaces two car garage pool and great master suite

Here’s what Burbed reader Sam had to say:

Nothing like an algae filled pool to dress up a house. What it’s an REO? You’re kidding!

Au contraire! This green pool is actually just an example of the amazing plethora of green collar jobs that
are fast flooding the Bay Area. By harvesting the algae, you’ll be able to power your home greenly and reduce your dependence on foreign oil. Woot!

Not only is there instant equity here, there’s also passive income!

My personal bet: this will clear $1.5 million. Thoughts?

Comments (62) -- Posted by: burbed @ 5:55 am