July 19, 2013

Another atrocious East Bay listing when you should buy in Mountain View

It’s time to point and laugh at the East Bay again, and Burbed reader Bob in Oakland has got just the place. Thanks very much for keeping us apprised of all the wanna-bes who won’t be living in the Real Bay Area no matter how much they try overbidding. After all, anyone can show 365 percent profit when houses like this were selling for way less than Not A Lot Of Money.

130719-yuba-redfin2612 YUBA Ave
El Cerrito, CA 94530
Sold for $903,000

3 Beds
2.5 Baths
2,570 Sq. Ft.
$351 / Sq. Ft.
Built: 1926
Lot Size: 7,000 Sq. Ft.
Sold On: Jun 28, 2013
Status: Sold
Type: Detached
Stories: 2
Community: Mira Vista Estates
MLS#: 40614765
Style: Tudor
View: Bay, City Lights, Downtown, Partial, San Francisco
County: Contra Costa

Gorgeous Tudor/arched entry, Juliet balcony, sunken LR/ exposed beam ceilings. Perfect combination of old & new. Upgraded kit/caesarstone/ tiled backsplash & stainless appliances. Updated baths. Plus rooms. Lovely yard/ brick patio. Super house for entertaining. Close to BART, shop. & restaurants.

130719-yuba-decorOk, Bob, why did you nominate today’s Tudor?

365 percent appreciation in El Cerrito!

Actually that appreciation was just from March to August of last year:  375k to 745k in five months.
It just sold AGAIN – the third time in 16 months.
Listed at 779k, went pending in two weeks, and sold for 903k (16 percent over asking).
Yes, it’s a good-sized house on a good-sized lot. But 240 percent appreciation in 16 months – W…T…F!!

130719-yuba-kitchenWTF, indeed, where do you get 365 percent increase going from 375 to 903? One percent for every day this year. Is that East Bay math?

Maybe the way it works is that this house gets extra price increase boosts, because the value of a typical listing is actually dropping simply by being exposed to other homes located in the East Bay.  Think of it as a belt of lead weights, or a heavy chain connected to a big ol’ Oakland anchor.

130719-yuba-bedroomWhy would anyone buy this house for $903,000, when it’s full of exposed hardwood and the living room is sinking plus it has a frighteningly large kitchen? It makes much more sense to buy a fixer-upper in Mountain View instead. Think of all the time you’ll save when everything is at your fingertips because the rooms are so conveniently close-in. And the Bay views from El Cerrito will lead to woolgathering when you’ll be needing to focus on work. Mountain View Eichloids don’t have those distractions! Besides, it’s not like you’d be leaving Google during daylight hours anyway.

Comments (6) -- Posted by: madhaus @ 7:04 am






May 22, 2013

So much potential nestled on the hill

Yesterday we had a place in hot, hot, HOT Mountain View that has been on the market for more than a hundred days.  That was a fun game, so let’s play Why Won’t This House Sell yet again.  Today we move to San Mateo County and the delightful breezy bivouac of Brisbane!

130521-sierra-redfin772 Sierra Point Rd
Brisbane, CA 94005
$629,000

3 Beds
1.5 Baths
1,400 Sq. Ft.
$449 / Sq. Ft.
Built: 1968
Lot Size: —
On Redfin: 130 days
Property Type: Single-Family Home
Community: Brisbane
MLS#": 403999
View: Bay
County: San Mateo

So much potential nestled on the hill, great floor plan. SF Bay views from almost every room, kitchen breakfast bar, living room with fireplace, 2 car garage, deck in front, back yard has stairs leading up to tiered gardens of peach, lemon and Japanese plum trees, absolutely gorgeous when in bloom. Yellow roses, and room for your gardening dreams. Inside open stairway with wall of colored/obscure glass that could be replaced with windows with more SF Bay views. Low E Dual pane windows only 4 years old, Furnace only 7 years old and new water heater. Broken window and minor wall repairs will be done by sellers. House is dated and needs some TLC for sure.

130521-sierra-windowsIs this the wall of colored/obscure glass on the left? Better not break any of it, as it’s going to be a long look through lots of old, musty catalogs finding where to replace that.  And really, who cares about the house anyway? Value is in the land, because what you’re paying for is this view of the Bay.

And of the power lines.

130521-sierra-view

Comments (4) -- Posted by: madhaus @ 5:05 am