September 8, 2013

Department of Duh: More House for Your Money in East Bay

And now we present yet another story about people having to move to the East Bay and insisting that it was a great idea.

Families flee S.F. for East Bay with cheaper homes

130907-flight-smithCarolyn Said, San Francisco Chronicle
Updated 9:45 pm, Saturday, September 7, 2013

"Family flight" out of San Francisco is nothing new. But now, real estate prices in the city have risen so steeply – much more so than in the East Bay – that there’s an extra incentive for longtime San Francisco homeowners to cash out their equity and head across the bay seeking more house for less money.

After 20 years in San Francisco, John Perryand Rob Picciotto, along with their children, Ben and Louisa, and three dogs, transplanted themselves to Oakland. "I didn’t think we would ever leave San Francisco, but a convergence of things made us consider moving," said Perry.

In 1998, Perry and Picciotto had stretched to buy their Bernal Heights house and make it work as their family grew. In June it sold for more than triple what they’d paid, a windfall that allowed them to pay cash for a less expensive house in Oakland’s Leona Heights neighborhood in the hills above Mills College.

"We don’t have a mortgage anymore, which is awesome," Perry said. "We doubled our square footage on more than an acre of land, and have phenomenal neighbors. Oakland is so diverse; it’s a whole new world to learn and explore. There’s more space, more mix."

We’ve pointed out many times in the past that the East Bay was not part of the Real Bay Area because it hasn’t benefitted from the same batshit insane price increases found in places West of the Bay. Outmigration serves as a release valve on the price hikes. When SF gets too expensive compared to Oakland or Walnut Creek (two places mentioned as where SF sellers moved to), people will move East because they get more house for the money.

Three things of note from this article:

  1. Moving from SF to Silicon Valley will NOT gain you a damned thing.  The prices have gone up just as much in Googleville.  These bargains are only to be found in the Nickle and Dime or Nine and a Quarter area codes.
  2. The exact same newspaper has a another feature on how the batshit insane SF home prices are leveling off, which isn’t exactly demonstrated by this piece.
  3. San Francisco has fewer residents under 18, by percentage, than any other major city.  This really still remains as a Family Flight From ‘Frisco story. The only difference is more people moving to Montclair instead of Marin.

This is also your Weekend Open Thread. Are you considering moving further afield because trading up where you already live is too expensive?

Comments (4) -- Posted by: madhaus @ 7:06 am






June 10, 2013

in-ground pool, custom tile entry way

It’s time for another week of Burbed win! You know what that means, right? Sure you do! Today’s fine featured fortress is brought to you by Burbed reader J from Alameda.  Yes, another bit of East Bay win today, in Walnut Creek!

And you know that by “win” we still mean the exact opposite of “win.”

130609-newell-redfin1764 NEWELL Ave
Walnut Creek, CA 94595
$734,900

3 Beds
2 Baths
1,977 Sq. Ft.
$372 / Sq. Ft.
Built: 1948
Lot Size: 9,504 Sq. Ft.
On Redfin: 172 days
Status: Pend-REO
Type: Detached
Stories: 1
County: Contra Costa
Style: Ranch
Community: Parkmead
MLS#: 40598733

This custom home has over 2000 sq ft of living space located in the heart of Parkmead. Home features an open floorplan, custom tile entry way, hardwood floors, sunroom (permits unknown) and updated master bath. The backyard has a in-ground pool. Call today for more information on this great home!!

130609-newell-open-planLet’s have J check in on why another East Bay property when there are so many deserving listings much closer to Google:

How about a nomination for most trips down Pending Lane? And a few price reductions thrown in for good measure.

Theories? Is it the pool? The unknown sunroom permits? Can’t be the freeway noise since it’s at least a block away. The house is on a busy 130609-newell-poolstreet but just doesn’t look so terrible. What am I missing?

Oh, sure, anyone can take a trip down Pending Lane if all you have to do is lounge around on the bank’s inventory.  And anyone can take multiple trips if the house isn’t in the Real Bay Area. RBA houses are in such demand that pushy buyers are known to force their way into bank VPs’ offices at gunpoint and demand they sell them the house at 10% over asking.

What, you think real bank robbers would hit a place like Cupertino?  And if they did, they sure as heck wouldn’t dare try Los Altos.

As to the house: 8 days too soon to call this an Old LIsting. Lot’s 496 feet too small to be “big.”  But, ah, the photos.  We’re talking win.

130609-newell-open-plan130609-newell-corner130609-newell-bedroom130609-newell-doorway130609-newell-kitchen

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

May 17, 2013

WOW! So many exclamation points in Walnut Creek all done with permits!

To finish out the workweek, let’s check out a place perfect for the athlete in us all. Thanks very much to Burbed reader J from Alameda for this well-sited wonder in Walnut Creek.  (You can laugh about our including yet another East Bay listing, but we have just one word to say about that. PENDING!)

130516-bonita-redfin1261 Bonita Ln
Walnut Creek, CA 94595
$649,000

3 Beds
2 Baths
1,356 Sq. Ft.
$479 / Sq. Ft.
Built: 1948
Lot Size: —
On Redfin: 15 days
Type: Detached
Stories: 1
County: Contra Costa
Style: Contemporary
Community: Walnut Creek
MLS#: 40612878

WOW! Immaculate 3 bedroom/2 bathroom home in cul-de-sac location with separate 1 bedroom/1 bath cottage all done with permits! Gleaming hardwood floors, designer colors, and more. Nicely landscaped yards with Jacuzzi and lighted SPORTS COURT! Walk to Olympic in 2 minutes on nearby trail!

130516-bonita-sportscourtHere’s why J sent this house in:

This is a first: freeway noise wall in a listing photo! Granted its a photo of a cool basketball court but still. Cute house but what’s the air quality going to be like? Forget asking about noise issues. I’ve heard the freeway noise in these neighborhoods described as ‘a waterfall’, ‘white noise’, ‘rushing water’. Will it go over asking? Will it get multiple offers? Could a house with a freeway wall in the backyard ever sell in a market that is not red hot? Discuss.

130516-bonita-collectionsYou see a freeway wall, J. We see a lighted SPORTS COURT!

And note the Redfin Collections this house is part of. Is this a new category we’ve managed to miss until now? How can you even tell a property is subject to a bidding war unless you’re one of the people bidding on it?

Or was this one of those places where you had to wait in line to get into the Open House, where you felt obligated to submit an overbid when it was finally your turn to tour the interior?

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

May 10, 2013

Bay Area Bubble 4.0 Lands in… Walnut Creek!

All week we’ve been looking at examples of No Bubble Here, all over the San Francisco Bay Area. But today’s house shows otherwise.  Thanks very much to the Burbed reader who sent this in but wouldn’t make up a dorky nickname. (Warning: next time we make one up for you.)

130509-meadow-redfinUndisclosed Address
Walnut Creek, CA 94595
$550,000

4 Beds
2.5 Baths
2,213 Sq. Ft.
$249 / Sq. Ft.
Built: 1947
Lot Size: 0.30 Acres
On Redfin: 14 days
Type: Detached
Stories: 1
County: Contra Costa
Style: Ranch
Community: Walnut Creek
MLS#: 40612224

Great area of Walnut Creek, large level yard, needs lots of work bring your contractor NOT handyman!!

Here’s what Burbed reader Too Lazy To Even Try To Make Up My Own Nickname had to say about this listing:

I know inventory is tight where I’m looking but $550K????? For what?

Naming rights? Ahahahahaha!  Actually for $550K you also get the street name, which we will kindly provide to all our readers for absolutely nothing.  What better proof of a bubble is there than sellers who won’t tell you where the danged house is?

130509-meadow-movotoMeadow Rd,
Walnut Creek, CA 94595
$550,000

Loan Payment: $1,885/mo
Bedrooms: 4
Bathrooms: 2&1/2
Size: 2,213 sqft
$/sqft: $248/sqft
Type: Single Family House
Year Built: 1947
Lot Size: 12,900
Days on Movoto: 14 days
MLS#: 40612224
Status: Pending

Great area of Walnut Creek, large level yard, needs lots of work bring your contractor NOT handyman!!

Oh, what’s this, you want a street number as well? Picky, picky. Some people are just so demanding.

130509-meadow-google-where

Estately’s listing doesn’t have the address anymore, so let’s hear it for latency in search engines!  Let’s also hear it for the great job Zillow did hiding that this place is for sale.

130509-meadow-zillow

Bring your contractor and CIA agent not handyman and GPS!

Comments (4) -- Posted by: madhaus @ 5:02 am

February 9, 2012

Are having a hard time finding the perfect home?

Today we return to the Not Real Bay Area, for a very special home despite the location.  Thanks very much to Burbed reader J from Alameda for this listing, which we join already in progress.

2431 Olympic Blvd
Walnut Creek, CA 94595
$389,000

120208-olympic-redfin

BEDS: 4
BATHS:  4
SQ. FT.:  2,741
$/SQ. FT.:  $142
LOT SIZE:  9,100 Sq. Ft.
TYPE:  Detached
STYLE:  Contemporary
STORIES:  1
YEAR BUILT:  2009
COMMUNITY:  Saranap
COUNTY:  Contra Costa
MLS#:  40555341
SOURCE:  EBRD
STATUS:  Active
ON REDFIN:  48 days

Are having a hard time finding the perfect home? then this is a must see! You could finish this home and customize it to fit your needs. 4 bedroom 4 bath with a pool.

120208-olympic-trashbinsHere’s what J had to say about this fine find:

Burbed fan here – this is the first listing I have found that is Burbed worthy….the photo of the trash bins has to be unique. Zillow has a photo that appears to be a small hole in the ground…..

Oh dear, if J from Alameda thinks a photo of a trash bin or two in a home listing is unique, then clearly we 120208-olympic-interioraren’t doing our job that well.  There’s now a trash bins tag so everyone who enjoys comparing bins around the Bay Area can peruse them at their leisure.  We just had a bunch of them featured earlier this week.

But while this home isn’t unique in featuring photos of where to put your garbage and recycling, it sure lets you know what an absolute blast you’ll have sprucing the place up.  120208-olympic-yardThat is, if by “blast” we are actually referring to the effect it will have on your finances.

Anyone have any luck locating the promised pool?  Do you think this is it?

Or is it hidden under the unique trash bins?

120208-olympic-holeNo luck looking on Zillow.  They don’t have any pictures of this house at all, other than the default birds-eye shot.  That could be because the listing was removed on February 4th.

But this must be the picture J was thinking of, courtesy of Trulia.  Trulia has a different set of pictures than Redfin for this home.  This could very well be the pool.  Or it could be the Portal to Hell.

Customize it to fit your needs.

Comments (16) -- Posted by: madhaus @ 5:06 am