SF Bay Area Home Price and Mortgage Insanity Blog - Burbed.com

Study finds more millionaires in Bay Area

2009-07-16T07:40:34Z

Study finds more millionaires in Bay Area
(07-15) 18:29 PDT — Last year, the S&P index dropped nearly 40 percent, regional home prices fell by almost half and the state unemployment rate zoomed to the brink of double digits, so obviously the number of Bay Area millionaires … climbed?

Believe it or not, that’s the conclusion of a report released Wednesday by Merrill Lynch. Several economists, however, quickly placed themselves in the “not” camp.

The World Wealth Report, produced by Merrill and market research firm Claritas, found that the number of millionaire households across the nine-county Bay Area climbed to 136,120 last year, up 10.2 percent from 123,621 in 2007.

In fact, all three regions surveyed in the Golden State (Los Angeles, San Diego and San Francisco areas) increased in wealth last year, in sharp contrast to national and global trends, said Mike Riherd, senior vice president of investments in the Walnut Creek office of Merrill.

[snip]

The report predicts that the number of millionaires in the Bay Area will increase by 20 percent by 2013. The wealth of millionaires worldwide will swell by 48 percent during that time, from $32.8 trillion to $48.5 trillion, it said.

The study defined millionaires as having $1 million worth of “investable assets,” which exclude things like their primary residence, collectibles and consumables.

Congrats Bay Area! With all these millionaires, I know we are set to blast off for returning to the normal 10% year over year appreciation for houses in the Real Bay Area.

Great work everyone!

$400k house in San Jose – it’s practically a mansion!

2009-07-12T07:55:34Z

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

1522 SUNDOWN Ln, San Jose, CA 95127 | MLS# 80829694
1522 SUNDOWN Ln San Jose, CA 95127
Price: $400,000

Beds: 6
Baths: 2.5
Sq. Ft.: 1,040
$/Sq. Ft.: $385
Lot Size: 5,820 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
View: Neighborhood
Year Built: 1957
Community: Alum Rock
County: Santa Clara
MLS#: 80829694
Source: MLSListings
Status: Active
On Redfin: 324 days
6 bedroom/2.5 bath home located on a large lot!

Hey now this isn’t bad! 6 bedrooms with 2.5 baths! Sure it’s constructed in such a way that the front entrance door looks like a port-a-potty from far away, but heck, this is basically a Bay Area mansion for just $400k!

With so many rooms, you can easily rent them out and make some money to help pay the rent.

But here’s the Friday shocker:

Yep. That’s right. Just a few short months ago this house was listing for under $400k! In fact, it was $300k. Now, with the recession over, the stimulus stimulating everything, the price has gone back up to $400k. Better buy it now before it becomes $500k next year!

Bay Area home prices, sales rise

2009-07-16T18:39:19Z

Bay Area home prices, sales rise
(07-16) 09:56 PDT San Francisco — Bay Area home prices rose month-over-month for the third straight time as sales reached their highest level in three years last month, fueling hopes that the limping real estate market is slowly beginning to heal.

Across the nine-county region, 6,518 existing, single-family homes traded hands, up 27.8 percent from a year ago in June, according to San Diego research firm MDA DataQuick. The median price paid was $360,000, down 29.4 percent from a year earlier but up nearly 7 percent from May.

DataQuick attributed the gathering strength to a growing perception among buyers that prices have bottomed out and the increasing availability of mortgages.

OMG! OMG! OMG!

The good times are coming back everyone! Woohoo!

$399k house in Sunnyvale – what well kept homes look like

2009-07-12T07:54:52Z

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

761 SANTA PAULA Ave, Sunnyvale, CA 94085 | MLS# 80931705
761 SANTA PAULA Ave Sunnyvale, CA 94085
Price: $399,000

Beds: 3
Baths: 1
Sq. Ft.: 1,078
$/Sq. Ft.: $370
Lot Size: 5,148 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1954
Community: Sunnyvale
County: Santa Clara
MLS#: 80931705
Source: MLSListings
Status: Active
On Redfin: 11 days
Well kept home, perfect for the first time home buyer or investor.

The lack of affordable housing in Sunnyvale is now solved. And, this is a well kept home! Let’s take a look inside!

I love the combination of granite countertops, wood panel walls, bright brick fireplaces, and what looks like a RV-turned-into a sunroom.

What? That’s not well kept you sniff? Well… this is Bay Area Well Kept (BAWK). Learn to enjoy it.

At just $400k anyone can easily snap this house up.

And guess what! Back in 2007 this house sold for $665k! So whomever buys it now earns $266k in instant equity!

If this isn’t a winner, I don’t know what is. Take that Houston!

$411k house in Daly City – turn a shipping container into a house?

2009-06-30T09:14:35Z

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

758 SKYLINE Dr, Daly City, CA 94015 | MLS# 80927229
758 SKYLINE Dr Daly City, CA 94015
Price: $411,000

Beds: 3
Baths: 1
Sq. Ft.: 1,120
$/Sq. Ft.: $367
Lot Size: 3,300 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
Year Built: 1958
Community: Westlake Terrace
County: San Mateo
MLS#: 80927229
Source: MLSListings
Status: Active
On Redfin: 26 days
This 3 bdrm 1 ba is a must see! Remod kit w/ custom cabinets, tile counter tops, ceramic floors w/ new lighting fixtures. Remodeled bathroom. Wood floors refurnished. Fireplace in living room. Buyers are responsible for $75 doc fee due @ close of escrow. Any offers or counter offers by Indymac bank are not binding unless entire aggrmnt is ratified by partners. Offers to be submitted by 5pm on 6/12.

All the time you hear people demand greater transparency. Well this house offers it. Now, you as the buyer won’t be left wondering “Gosh, who will be paying the $75 doc fee.”

Yes, I know. This could be a potential deal breaker. Sure it is 1.82e-4 of the purchase price, but still – money is money!

So cheers to the listing agent for making this clear. Cheers to the fact that the bank it mentions doesn’t really exist. Cheers to this gerat opportunity to live in a house in Daly City that looks a lot like a shipping container.

Cheers all around!

$425k house in San Mateo – RV parking in back of home

2009-06-30T09:05:11Z

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

1819 HAMLET St, San Mateo, CA 94403 | MLS# 80927588
1819 HAMLET St San Mateo, CA 94403
Price: $425,000

Beds: 3
Baths: 2
Sq. Ft.: 1,220
$/Sq. Ft.: $348
Lot Size: 5,280 Sq. Ft.
Property Type: Detached Single Family
Style: Contemporary
Stories: 1
View: Neighborhood
Year Built: 1954
Community: Parkside
County: San Mateo
MLS#: 80927588
Source: MLSListings
Status: Active
On Redfin: 24 days
3 Bedroom, 2 Bath Parkside Fixer Upper! Hardwood Floors under carpeting. RV parking in back of home. This home has a lot of potential, but is a contractor’s special. This is a Probate Sale, with possible court confirmation.

Alright, at $425,000 this is a tad more expensive than the $400k price point we were aiming for. But let’s face it, this house is full of potential. You’ve got what clearly is part of an original Roman empire wall (who knew they got all the way to San Mateo) and some giant kitty litter boxes for your lions!

It’s a contractor’s special, and as we all know, a huge part of Silicon Valley’s workforce is self-employed as contractors. So go ahead you RoR contractor – this house is for you!

And while you’re fixing it up, just camp out in your RV behind the house – ‘cuz this house has room for one and is just dying for one.

Win win win!

$400k house in Santa Clara – moving fast!

2009-06-29T07:50:23Z

In light of Sunday’s post on houses for $400,000 across the nation, this week Burbed is featuring a selection of Bay Area houses for the same price.

2631 MONTICELLO Way, Santa Clara, CA 95051 | MLS# 80921648
2631 MONTICELLO Way Santa Clara, CA 95051
Price: $399,000

Beds: 3
Baths: 2
Sq. Ft.: 1,095
$/Sq. Ft.: $364
Lot Size: 6,300 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1960
Community: Santa Clara
County: Santa Clara
MLS#: 80921648
Source: MLSListings
Status: Active
On Redfin: 59 days
NICE HOUSE IN A GOOD AREA CLOSE TO SCHOOLS AND STORES, PARKS, 3 BED ROOMS 2 BATHS, COME TO SEE IT AND MAKE YOUR BEST OFFER.

I know what you’re thinking – wow… why get a mansion everywhere else when you can get this house in Santa Clara!

But wait, there’s more! Let’s look at the 2 interior pics:

Let’s ignore the fact that the fridge seems to be modified so that it can be padlocked for a moment. The fact is that this house is moving so fast that the realtor can’t take any non-motion blurred pics!

While he was standing there, offers started to pour in, and interest in the house shot off.

Look, one of the exterior photos even includes prospective buyers. Hey, guess what? They’re from Moscow. They’re here with their oil money. In Santa Clara. Competing with all the other foreigners who are trying to invest in the Best.

They’re thinking “$400k! This is a steal!”. And it is!

Properties for $400,000 – The New York Times

2009-06-29T07:42:00Z

Properties for $400,000 – The New York Times > Great Homes and Destinations > Slide Show > Slide 7 of 20
HOUSTON

$399,000

A four-bedroom house in Ponderosa Forest, a suburban neighborhood outside the beltway that encircles the core of Houston, is on the market for $399,000.

Thanks to Burbed reader James for sharing this. He thought that readers here would be interested in knowing more about what $400,000 can buy in Houston.

Personally, I’m just disappointed that these NY elitests once again forgot to show off what can be purchased in the Bay Area (Real or otherwise) for $400,000.

Anyway, who wants to live in Houston, Chicago, or New Haven (featured in this link)?

This week, Burbed will show you what $400,000 can buy in the Bay Area.

Thanks James!

Let me know if the site is acting strange…

2009-07-11T23:02:27Z

I’m not a very good admin – so I’m trying out some more tools to help make things better (and to help the behind-the-scenes spam problem that you don’t see). I’m trying out AskApache Password Protect. Do let me know in the comment if something gets busted. Thanks!

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow – Steve Dexter

2009-06-14T21:33:52Z

Real Estate Debt Can Make You Rich: What You Owe Today Is What You Will Be Worth Tomorrow

One of Robert Bruss’Top 10 Real Estate Books of 2006

“Reveals mortgage-lending secrets most home buyers, realty agents and investors have never heard before. On my scale of one to 10, this superb new book rates an off-the-chart 12.”
(Bruss, Robert J. Inman News Features )

Product Description

LEVERAGE THE LOANS AND FINANCING THAT CAN GIVE YOU BIG PROFITS!

You don’t have to wait for years saving up your first down payment before you start investing in real estate. Instead, you can put up a small percentage of a down payment and let a loan from the bank finance the rest. When it’s time to sell, you pay the bank for the original loan, and any profit goes right in your pocket.

But even seasoned real estate investors need a guide to help them through the maze of different loan products and financing options that banks offer. Real estate finance expert Steve Dexter takes you into the hidden world of leveraged investing-essentially using “other people’s money” to earn massive profits. With simple, straightforward advice, this book…

* Offers strategies for minimizing a down payment in order to maximize investment return
* Simplifies all tax issues related to real estate debt
* Gives strategies on making yourself more creditworthy
* Provides bonus insider advice on how to find the best properties

Thanks to Burbed reader Real Estater for this book recommendation.

Let’s face it, anyone who has studied corporate finances knows that debt is often a critical tool in ensuring your company is run in the most efficient matter. And are most families companies these days?

So lever up! Use OPM (there’s that word again) to maximize your cash flow and shield your income from taxes. Frankly, I think families should be able to IPO, but that’s another rant for antoher day.

Has anyone read this book? The idea of borrowing tons of money to become rich makes perfect sense in the Bay Area economics. Take than Krugman!

And when you do become rich, if you’re looking to help this site out, click this link to learn more!

This Richmond, San Francisco house keeps SF in the Real Bay Area

2009-06-22T08:38:03Z

341 Cornwall St, San Francisco, CA 94118 – Zillow
341 Cornwall St San Francisco CA 94118

3 beds, 2.5 baths, 1,690 sq ft
Close

For Sale: $1,195,000,100

Loan type:
Interest Rate:
%

Down payment:
% ($239,000,020)

Include estimated taxes and insurance
Estimated payment: $5,424,729

* 3 beds
* 2.5 bath
* Built in 1907

Seller’s Description:

Charming Edwardian home in convenient location near Lake Street, Laurel Village shopping, Mountain Lake Park, and transportation. This home has three bedrooms and two baths on one level as well as a sunroom that overlooks deep rear garden. Beautiful sunny foyer with beveled mirrors leads to the living room with fireplace, separated by pocket doors from the formal dining room with built-in sideboard, and also opens to the kitchen which overlooks deck and garden. This floor is completed by a powder room. Lower level has large garage, laundry and extra storage.

Thanks to Burbed reader Jason for this find.

I’m going to keep this one terse. All I can say is that this house definitely keeps San Francisco in the Real Bay Area.

Funny street view for an affordable San Jose house

2009-06-22T08:32:37Z

671 W VIRGINIA St, San Jose, CA 95125 | MLS# 80924704
671 W VIRGINIA St San Jose, CA 95125
Price: $429,900

Beds: 3
Baths: 2
Sq. Ft.: 1,677
$/Sq. Ft.: $256
Lot Size: 9,960 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1936
Community: Willow Glen
County: Santa Clara
MLS#: 80924704
Source: MLSListings
Status: Active
On Redfin: 33 days
This large 3/2 has many updates and a bonus room that could be used as a fourth bedroom or a den. There is a two car detached garage and side yard parking!

Burbed reader Derek sent this in.

Frankly, there’s nothing wrong with this house. I mean, it’s actually an amazing deal.

But as a cheap joke, here’s the Street View:

Well… if you ever wanted a view of 280, this house is for you. And at this price, you might as well buy it as a spare house for your in-laws or something!

Feeling trapped by a home? Bella Vista in Los Gatos will set you free!

2009-06-29T07:41:13Z

Thanks to Burbed reader nomadic for this find.

Personally, I’m perplexed why this company would buy ads nationally. I mean, this clearly isn’t meant for the local market since no one would feel trapped in their Real Bay Area home. So, this must be targetted towards people in Los Angeles, Detroit, New York, Miami and other go-no-where cities.

But, let’s say that this was meant for the local market – like East Palo Alto. How exaclty does a proposal like this work? How do they untrap you from your house? Anyone?

New custom home in Cupertino… sort of…

2009-06-22T08:10:47Z

1681 PROVINCETOWN Dr, Cupertino, CA 95129 | MLS# 80926285
1681 PROVINCETOWN Dr Cupertino, CA 95129
Price: $1,549,888

Beds: 5
Baths: 3
Sq. Ft.: 2,800
$/Sq. Ft.: $554
Lot Size: 6,500 Sq. Ft.
Property Type: Detached Single Family
Style: Mediterranean
Stories: 2
View: Neighborhood
Year Built: 2009
Community: Cupertino
County: Santa Clara
MLS#: 80926285
Source: MLSListings
Status: Active
On Redfin: 23 days
Gorgeous new custom home in great neighborhood of 3 new home subdivision! Reputable national award winning schools: Lynbrook High/Joaquin Miller Middle/John Muir Elem. Custom design/built exterior and interior with high end materials and appliances. Elegant taste makes the house stunning and most desirable for living. A definite rare opportunity in the neighborhood! You don???t want to miss it.

Thanks to Burbed reader sonarrat for this find.

Why did he send it? Because he noticed this:

Um.

Maybe this is disputed territory, like Kashmir. That said, it does seem peculiar that all the RE listing sites allow this to be classified as Cupertino. Is this an indicator for some sort of future land grab? Annexation? What’s the deal?

Maybe, it’s a reference to the fact that Cupertino is now a state of mind, and not just a geographical area!

BTW, what awards have these schools won nationally that distinguish them?

Anyway, buy this house, and then provoke Cupertino into becoming an occupying force. And watch as your equity instantly soars!

A good example of how Zillow is unreliable

2009-06-22T08:01:07Z

290 CHIQUITA Ave, Mountain View, CA 94041 | MLS# 80929905
290 CHIQUITA Ave Mountain View, CA 94041
Price: $1,190,000

Beds: 3
Baths: 3
Sq. Ft.: 1,565
$/Sq. Ft.: $760
Lot Size: 4,414 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
Year Built: 2009
Community: Downtown
County: Santa Clara
MLS#: 80929905
Source: MLSListings
Status: Active
On Redfin: 3 days
Brand New Home. Spacious floor plan, open and bright. Elegant Hardwood Entry Door w/ sidelights. Chef’s Kitchen w/ Stainless steel appliances, lots of hand stained cherry cabinets w/ Granite slab countertops. Gorgeous imported Tigerwood floors, Importd Tile and Marble in kitchen ad Baths. Spiral Staircase. Double hung, dual pane windows AND lots more. A MUST SEE TO APPRECIATE. .. Open Sat/Sun 12-5

Thanks to Burbed reader K.M. for sending this in.

Unfortunately, I think K.M. got things mixed up when she wrote this:

Outrageous, asking price on this house is double the Zillow, surrounded by a parking lot in a sketchy neighborhood.

Now while it’s true that Zillow only provides a ZEstimate of $585,000, I think this is more of an indicator of how Zillow can be unreliable.

You see, Zillow still doesn’t have a strong model for the Real Bay Area. They need to improve their algos to account for “special”. It’s hard, but I bet they could do it if they just knew about this deficiency.

Anyone here know any Zillow employees that they can talk to about this?

Flash from the past: Silicon Valley’s New Record Home Price — $750,000

2009-06-08T07:21:10Z

Realty Times – Silicon Valley’s New Record Home Price — $750,000

Silicon Valley’s New Record Home Price — $750,000
by Broderick Perkins

Three quarters of a million dollars; $0.75 million; $750,000.

Anyway you write it, April’s median price of single-family detached homes in Silicon Valley comes out the same.

“It’s crazy,” says Mark Burns, a Coldwell Banker agent in Cupertino.

The good news is that most experts say the market has just about peaked — for now — at the region’s new record price level for single-family detached homes, $750,000 — up a whopping $86,000 this year alone and $132,000 in the past year.

The median price for condos came in at $465,000 in April, up only $55,000 since the beginning of the year, and $80,000 from a year ago, according to the Bay Area Real Estate Market Newsletter by Richard Calhoun, broker owner of Creekside Realty in San Jose.

[snip]

“People come here from all over the world, not just all over the country. There’s an explosion in first time home buyers, baby boomers buying their second and third homes or smaller houses, immigrants, people going in together to buy homes. There are very favorable demographic trends, coupled with low interest rates and a finite number of homes,” Moles said.

Published: May 6, 2005

Recently I found this piece. Boy, it really brought back memories. <tears well up> I’m sorry. I’m all verklempt. Talk amongst yourselves. I’ll give you a topic. Facebook is neither a face nor a book. Discuss.

Groceries cost 14% more in the Bay Area than Seattle or Washington DC

2009-06-15T04:23:05Z

Happy July 4th everyone!

I’m posting this one day in advance because I’m taking tomorrow off.

As is tradition on Burbed, here is the latest installment of “Groceries cost more in the Bay Area.” As usual, I have compared 3 cities where Safeway is available: Cupertino, Seattle (possibly our new enemy), and Washington D.C.

As we all know, it is our explicit goal to have the highest cost of living here. It helps keep the riff raff out, and promotes innovation by encouraging people to constantly work.

So… for those of you who are slacking off, not adding value by taking the day off to have a BBQ, here’s a sample grocery list and how much more it costs to have it in the Bay Area. I compared the exact same items on Safeway.com for these three cities, choosing only products that were not on sale. That explains there are no hot dog buns on this list – they were all on sale!

Item	Cupertino	Seattle	Washington DC	More than Seattle	More than DC
Coke (12 pk)	$ 6.29	$ 6.29	$ 5.99	0%	5%
Beef Back Ribs	$ 5.98	$ 3.58	$ 2.98	67%	101%
Pork Loin Bank Ribs	$ 17.99	$ 18.99	$ 17.99	-5%	0%
A1 Sauce	$ 8.23	$ 5.56	$ 5.99	48%	37%
Salt	$ 0.89	$ 0.89	$ 0.79	0%	13%
Ground Pepper	$ 2.99	$ 2.69	$ 1.99	11%	50%
Red Potato	$ 0.37	$ 0.37	$ 0.32	0%	16%
Can of Corn	$ 1.49	$ 1.15	$ 1.15	30%	30%
Gravy Mix	$ 1.45	$ 1.39	$ 1.09	4%	33%
Chicken Breast	$ 8.99	$ 8.99	$ 8.99	0%	0%
Match Light Charcoal	$ 5.59	$ 4.49	$ 3.99	24%	40%
Lettuce Blend	$ 3.79	$ 3.49	$ 3.49	9%	9%
Madeleine Cookies	$ 4.29	$ 3.99	$ 3.99	8%	8%
Organic Corn Chips	$ 2.99	$ 2.99	$ 3.49	0%	-14%
Sheet Cake	$ 21.99	$ 17.99	$ 20.99	22%	5%
Dinner Roll	$ 0.59	$ 0.59	$ 0.59	0%	0%
Red Roma Tomato	$ 0.54	$ 0.40	$ 0.54	35%	0%
Dill Pickles	$ 4.19	$ 3.29	$ 3.79	27%	11%
Ketchup	$ 2.99	$ 2.39	$ 2.59	25%	15%
Mustard	$ 1.99	$ 1.75	$ 1.89	14%	5%
Red Onion	$ 0.97	$ 0.74	$ 0.97	31%	0%
Beef Franks	$ 5.29	$ 4.99	$ 4.49	6%	18%
Paper Plates	$ 3.29	$ 2.49	$ 2.49	32%	32%
Utensils	$ 0.99	$ 0.99	$ 0.99	0%	0%

Total	$ 114.16	$ 100.48	$ 101.57	14%	12%

The Bay Area wins again!

So congrats to the Bay Area for once again being more expensive in groceries than Seattle and Washington DC.

Now if only Safeway.com would open in NY so that I could do a comparison there. That would be the ultimate match up!

Have a good BBQ tomorrow!

Housing now beyond affordable in Redwood City

2009-06-15T04:46:49Z

225 PACIFIC Ave, Redwood City, CA 94063 | MLS# 80924666
225 PACIFIC Ave Redwood City, CA 94063
Price: $219,000

Beds: 2
Baths: 1
Sq. Ft.: 880
$/Sq. Ft.: $249
Lot Size: 2,500 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
View: Neighborhood
Year Built: 1963
Community: Dumbarton
County: San Mateo
MLS#: 80924666
Source: MLSListings
Status: Active
On Redfin: 25 days
* * Priced to Sell * * Bank Owned Property. Sold AS IS Bank makes no represntations or warranties Current configuration is 3 Bedroom 1 bath no garage plus a studio that enters from the rear of the building.

I don’t understand how people can continue to claim that the Bay Area is unaffordable. Just look at this house.

Look! It’s even got 2 kitchens! All for just $219,000 per year! That’s just 2x the salary of a firefighter. Now… granted there may be some drawbacks…

But I assure you, you won’t have any problems at all sleeping in this house. Why? Because the only sound you’ll hear is the sound of equity building, and the pride of ownership blasting.

So to all you whiners who complained you can’t afford anything in the Bay Area that’s close to work – shut up and buy this house.

Your bluff has just been called.

Proof that real estate market is booming in the Real Bay Area

2009-06-15T04:40:13Z

1308 ISABELLE Ave, Mountain View, CA 94040 | MLS# 80926709
1308 ISABELLE Ave Mountain View, CA 94040
Price: $998,000

Beds: 4
Baths: 2
Sq. Ft.: 2,066
$/Sq. Ft.: $483
Lot Size: 0.35 Acres
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1953
Community: Miramonte
County: Santa Clara
MLS#: 80926709
Source: MLSListings
Status: Pending Without Release
On Redfin: 12 days
Walk lot directly; appointment only for seeing inside of house. Huge 15,000 square foot lot in great neighborhood with a house that needs some TLC, but has hardwood floors, real plaster walls, good space. A rare sized deep lot for this area of Mt. View, close to the Los Altos border. Los Altos/Mt. View schools. Make sure to see behind the house – lot goes way back!

Do you need any further proof that the real estate market is booming, on fire, hot hot hot in the Real Bay Area after seeing this?

$998,000 for a tear down… on the market for 12 days and then pending without release.

Now, granted this is .35 acres, which is definitely a selling point – but it’s astounding isn’t it.

Liquidity is definitely flowing, people are definitely buying.

If we all cross our fingers, 2009 might just turn out to be a normal year of 9% year over year growth. Let’s hope!

House in Mountain View comes with Guard Tower

2009-06-15T04:36:25Z

278 N RENGSTORFF Ave, Mountain View, CA 94043 | MLS# 80926202
278 N RENGSTORFF Ave Mountain View, CA 94043
Price: $745,000

Beds: 4
Baths: 2
Sq. Ft.: 1,344
$/Sq. Ft.: $554
Lot Size: 5,000 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
Year Built: 1955
Community: Thompson
County: Santa Clara
MLS#: 80926202
Source: MLSListings
Status: Active
On Redfin: 16 days
Complete interior remodel in the Monta Loma community, light & bright-this home features a new kitchen with stainless steel appls, granite counters & recessed lighting. Both baths tiled in stone, gorgeous new flooring. New furnace, water heater, insul, 2-pane windows, electric & wiring. Large by-landscaped. Close by shopping, amenities, commutes, Los Altos High. SELLER FINANCING AVAILABLE AT GOOD RATES

Let’s face it, with the economy not so well in other states, invaders might be tempted to come to the Bay Area to steal our treasure and bring it back to their savage states.

With that mind, it is obvious why the owners of this house built this guard tower. You and your family can take turns at night, peering out the windows, ensuring that any trespassers onto your property will be detected.

Or you can do this in reverse and make sure no one sneaks out of the house. Perhaps you’re a parent whose kids might not be on track to getting into Stanford – now you can be sure they’re not leaving until they’ve done their homework.

Either way, this is great for those who want to be aware of the surroundings. Spotlights not included.