May 24, 2013

Overbids: Now on twitter

Today we’re going to follow up on a tweet that highlights the market in San Bruno.  Thanks very much to @davnic4.

Just in case that embedded tweet doesn’t share the photo attached, here it is:


Can you believe it indeed?

130522-fleetwood-redfin3445 FLEETWOOD Dr
San Bruno, CA 94066
Sold for $660,000

3 Beds
2 Baths
1,440 Sq. Ft.
$458 / Sq. Ft.
Built: 1964
Lot Size: 0.34 Acres
Sold On: Mar 28, 2013
Property Type: Detached Single Family
Stories: 1
Community: Monte Verde
MLS#: 81308204
Style: Contemporary
View: Neighborhood
County: San Mateo

First time on the market! This San Bruno fixer offers 3 bedrooms, 2 baths with open floor plan with plenty of natural light and inviting garden . Great potential to make this gem shine. MUST SEE!!!

Let’s see what else it offers.


This carpet looks like it has more chlorophyll than the grass.  Now, check out the aerial view (because there’s no streetview). Looks like you’re going to get to know the neighbors really well!


And what’s that in the backyard?  A freeway (CA 35) PLUS high tension power lines! Win-win-win!

Comments (6) -- Posted by: madhaus @ 5:08 am

April 26, 2013

WTF in Woodside

BlogAtoZ-WWe’re almost done With the Blogging from A to Z Challenge, and Wow is our Website Woozy.  What Will our readers Whine about When it’s gone? No Worries, some of you Wonder Why it Wore out its Welcome While others Winked at how Wonderful the Words Were.

Well… let’s move on to today’s featured home. It’s in one of Realest of the Real Bay Area areas, home to many famous Silicon Valley startup billionaires. Now it can be home to you as Well, and even at an Welcome asking price!

130425-glenwood-redfin439 GLENWOOD Ave
Woodside, CA 94062

1 Beds
1 Baths
480 Sq. Ft.
$1,850 / Sq. Ft.
Built: 1933
Lot Size: 0.34 Acres
On Redfin: 6 days
Property Type: Detached Single Family
Stories: 1
County: San Mateo
Style: Cottage/Bungalow
Community: Woodside Glens
MLS#: 81312849

A Rare and Most Unique Opportunity2Bld Your Dream HM or Acquire a Cottage HM Retreat in Coveted Woodside Glens!Revive 2 Fxr Upr Cottages, or Pave the Way for Your NU LUX RES!This Desirable Prop offers 15,000 SQ FT of Wooded Serenity w/ an End of the Road Culdesac Lctn!Approx. 4 miles from Canada Road, EZ Ingress/Egress. Minutes 2 Town Village & Top Rated Woodside Elementary Schl!Super EZ Cmt2H-280!

Upcoming Open Houses

Sunday, Apr 28: 2:00-4:00 pm
Sunday, May 5: 2:00-4:00 pm


130425-glenwood-frontThis may be the first property in Woodside to have its listing copy composed entirely in tweets.

Wow, What’s this? Woodside is known for huge spreads on acres of land. Today’s house is only oversized When compared With this cabin in the Woods.

Wait, there’s more (bunus!): Court confirmation may be required. Whee!

Comments (2) -- Posted by: madhaus @ 5:01 am

March 14, 2013

Whole Foods versus WalMart

This image has been bouncing around teh Intertubez this week.  Perhaps you’ve seen it:

Bay Area Explained WF vs WM

130313-wfwm-wfThis tweet from Jarrett Barrios credits someone else, but we can’t find an earlier use of the map.  (Could be this,) It’s a lovely image that clearly sets up Real Bay Area versus Not the Real Bay Area, with the oddball exception of the WalMart in Mountain View.  Other than that, It’s 280 versus 880.

130313-wfwm-wmBest comment on this map: Mountain View’s town motto is "Even our poor people are rich."  Don’t know if that’s true, but the Whole Foods and the WalMart are less than a block apart.

Note: Google Maps only creates ten pins per image.  Those little red dots are additional location, location, locations.  So yes there are Whole Foods stores, 3 of them, in Marin.

We’d like to know if you can you come up with other easy-to-map measures for RBA versus Not the RBA.

Comments (8) -- Posted by: madhaus @ 5:07 am

May 19, 2012

CNN blogger creams himself over Facebook Effect

Have we discussed the price adjustments (up! up! up!) in both buying and renting in San Francisco due to the Facebook IPO?  Not enough!  Let’s see what happens when CNN lets one of its bloggers write a tl;dr post that makes our zip code pieces look like tweets by comparison.

The Facebook effect on San Francisco real estate

By Julian Hebron, contributor @CNNMoney May 17, 2012: 1:27 PM ET

120517-sf-facebook-effect(StockTwits) — The Basis Point is a popular mortgage and housing blog that tracks consumer critical issues and data. It is edited by Julian Hebron, a retail mortgage lender who runs the San Francisco branches of RPM Mortgage.

Three weeks ago, some clients wrote a $1.25 million offer on a 1,400 square foot 3-bed, 1-bath house with original kitchen and bath near San Francisco’s Dolores Park. They weren’t even close. There were 51 offers. It sold for $1.4 million and closed 8 days after offers were due.

That’s the most offers I’ve seen in 10 years. And a different property at that week got 23 offers.

Two weeks ago, another client offered $245,000 over list price on a 3-bed, 2-bath Pacific Heights condo. One of the other 9 offers was the winning bid in this $1.6 million to $1.9 million market segment. That was my client’s fourth rejected offer. He’s looking at two properties in this price range this week, and the listing agents are reporting similar demand: about 10 serious buyers circling.

That’s the norm. It’s what some are calling The Facebook Effect on San Francisco real estate.

That’s the norm: 10 serious buyers circling.  StockTwits goes on at very great length to explain why this is happening, and mentions “The Facebook Effect” as if the term were newly minted.  Here’s what Hebron said in much fewer words.  (The charts are all linked from his article.)

1. Everyone not already working for Facebook is trying to buy before millions of Facebook employees get their license to print unlimited money

You will love this quote from the article:

The San Francisco buyer mindset is that they want to get in before they’re priced out, but they either haven’t reaped their firm’s windfall yet or don’t expect much if any windfall from their firm.

That’s right.  They’re all worried about being Priced Out Forever.  And this has never, never, ever happened before!


2. Ed Lee’s reelection as SF Mayor means tech employers can demand payroll tax adjustments

Twitter threatened to leave SF over the 1.5% payroll tax, what with all the high salaries and the stock option financials on top of that, Lee negotiated an adjustment with a maximum annual tax, and now all the other tech companies will expect similar easements.  Which means they’ll stay in SF, which means high-paid twentysomething technogeeks will continue to buy real estate there, which means you can’t afford anything.

And this is all very interesting, except Facebook is not in SF.  So why isn’t this article called “The Twitter Effect”?

3. Constricted housing supply.  Really, really, really constricted.  Plus rising rents.  Did we mention constricted housing supply?


The key takeaway is that there were only 500-600 annual SF home sales above $1.5 million.  Now, how many people do you think will be wanting one of those better places once the IPO cash hits?


And is it maybe possible that more homeowners would cash out when they start seeing more of these prices? 

Comments (31) -- Posted by: madhaus @ 5:08 am

March 10, 2012

Open Houses, Open Thread, and Open Tweets

It may not be Spring yet, but Spring Bounce is in the air!  More and more Open Houses for everyone to enjoy.  You can tell us about the houses you visited this weekend right here in this Weekend Open Thread.

But wait, there’s more!  Burbed reader Divasm also passes along a twitter account you might want to start following.  This is run by the fine folks over at Redfin, only this is full of mysterious finds when they show up to tour homes.   Have a look at RE Confidential.


Let’s start with a few of their tweets and see what they suggest.


Fashion forward décor!


Well, what do you expect for twice as much as not a lot of money?


Would she be actually living there, or just “legally” entitled to stay enrolled?  Maybe we’re giving the seller more credit than we should.

Let us know your favorites, or if you think you can identify any of the houses they’re describing.

Comments (17) -- Posted by: madhaus @ 5:07 am