1775 ELSIE Ave, Mountain View, CA 94043 | MLS# 80847987
1775 ELSIE Ave Mountain View, CA 94043
Price: $730,000
Beds: 3
Baths: 1
Sq. Ft.: 860
$/Sq. Ft.: $849

Lot Size: 5,600 Sq. Ft.
Property Type: Attached Single Family
Style: Contemporary, Cottage/Bungalow
Year Built: 1950
Stories: 1
View: Neighborhood
Neighborhood: North Shoreline
County: Santa Clara
MLS#: 80847987
Source: MLSListings
Status: Active
On Redfin: 17 days
Cute & Cozy 3/1. Newly remodeled, New Anderson double pane windows, New stucco exterior, New laminate flooring (Sydney Blue). New Patio door off master leading to private court yard. New back fence & side gates. New interior doors. New designer paint. Bath updated. New brick path on side of the house. New sprinklers in back. Kitchen updated 2002.Garage updated. Terrific location. Walk to Downtown.

It’s the usual deal - a typically priced $849 per square foot house near downtown Mountain View. Hey! It’s got double pane windows! That’s rarity around here sometimes!

But the real reason this is being featured? Check out the sweet office you can have:

Yeah that’s right. Going for that Garage startup ind of feel? This is your opportunity to start the next Google. Entertain the VCs in your garage - while doing laundry at the same time. Own the entreprenurial spirit that makes Silicon Valley so famous today!

Let’s look at a rental listing on the MLS, and then look at the ZEstimate.

Reports
3924 Casanova DR, San Mateo 94403 (San Mateo)
$2,000 Beds: 2 bed(s) Baths: 1 bath(s) MLS: 80848296

Property Overview
3924 Casanova DR
San Mateo (San Mateo) 94403
Detached Single Family (Class 10)
Bed/Bath: 2 / 1
SqFt: 950
Lot Size: 950 sq ft
Date Available: 12/05/2008
Rental Price: $2,000
Remarks
Immaculate & charming home in S.M. Village. New interior paint, neutral carpets and window coverings. New paver driveway and patio. Beautiful large and private backyard. Gardener, washer and dryer included. Close to park, Whole Foods and highway 92. House is very light and airy - fireplace in living room. NO PETS!! NON SMOKERS PLEASE!!

Ok. $2000 a month for a 2/1.

What do you think the ZEstimate is?

Did you guess that it was: $537,000

Here’s some other juicy information:

ZESTIMATE®: $537,000

* Value Range: $451,080 - $569,220
* 30-day change: -$10,500
* Zestimate updated: 12/19/2008

Last sale and tax info

Sold 06/10/2005:
$625,000
2008 Property Tax:
$7,352

Those of you with fancy calculators - how rich is this landlord becoming? Would you buy it today if it were offerred?

First there was Real Bay Area - which is defined as… well… the Real Bay Area. As opposed to the geographic Bay Area which spans 9 counties, 101 cities, and includes places that no one thinks of when you say Bay Area, like Novato, Lafayette, Belvedere, etc. The Real Bay Area is a place where house prices always go up - it is the engine of our nation’s economy - it is a place where smart people go to live.

The Real Bay Area used to include San Francisco… but apparently, it only includes the Real San Francisco:

SFHomeBlog.com - A San Francisco Real Estate Blog: SF is finally ‘officially’ a Buyer’s Market
Despite month’s of negative news regarding real estate, San Francisco has proven amazingly resilient to price decreases (southern neighborhoods such as South of Market not withstanding) that is, until quite recently.

Ouch. Sorry SoMA. You’re now no longer in RSF, and thus no longer in RBA. (Was it a really surprise to any readers here though? After all… how can you compare the boring culture of SoMA to that of Palo Alto and Cupertino?)

Don’t worry - you have the whole year to recuperate!

10558 GASCOIGNE Dr, Cupertino, CA 95014 | MLS# 80842233
10558 GASCOIGNE Dr Cupertino, CA 95014
Price: $699,888
Beds: 4
Baths: 2
Sq. Ft.: 1,844
$/Sq. Ft.: $380

Lot Size: 5,300 Sq. Ft.
Property Type: Detached Single Family
Year Built: 1954
Stories: 1
View: Neighborhood
Neighborhood: Cupertino
County: Santa Clara
MLS#: 80842233
Source: MLSListings
Status: Active
On Redfin: 55 days
Located in the Prestigious and Quiet nieghborhood. Upgraded Kitchen w/ Tile counters top. New Carpets. All Room Doors are New. Bright & Light Open Floor Plan Design. Nice Pool & Spa in the backyard. Walk or bike to Cupertino Schools. Close to Shopping Maill & Ranch 99 Market. It’s Move in Condition.

To all you whiny Renters who keep complaining that housing in good school districts isn’t affordable, here’s your once in a lifetime opportunity.

Did you know that you can own a house with new room doors? Yes that’s right! And here’s proof!

Now, granted, if I lived here, I’d be in constant fear that someone would back into my house, given the peculiar driveway layout - but heck, it’s in Cupertino and that’s what matters.

Don’t be fooled my the lack of interior pictures. It’s move in condition.

$380 per square foot. I’m embarassed for this house. I bet its part of a strategy to underprice.

If you’re like me, you’re glad that 2008 is over. Blah, what a year.

Unfortunately, the prognosis for 2009 isn’t all that great - but there is a silver lining.

Why home values may take decades to recover - USATODAY.com
National Association of Realtors chief economist Lawrence Yun predicts home prices will keep falling in 2009 but could return to their 2006 peak in three years, not counting inflation.

Let’s get through 2009, and then real estate prices will soar once again!

What are your predictions for 2009? Which cities will be included in the Real Bay Area? What will be the price per square foot this time next year?

2326 HANOVER St, Palo Alto, CA 94306 | MLS# 80845686
2326 HANOVER St Palo Alto, CA 94306
Price: $1,195,000

Beds: 2
Baths: 1
Sq. Ft.: 870
$/Sq. Ft.: $1,374
Lot Size: 6,250 Sq. Ft.
Property Type: Detached Single Family
Style: Spanish
Year Built: 1928
Stories: 1
View: Neighborhood
Neighborhood: College
County: Santa Clara
MLS#: 80845686
Source: MLSListings
Status: Active
On Redfin: 34 days
PROBATE ESTATE SALE - ESTATE HAS PRICED FOR IMMEDIATE SALE - PREMIUM COLLEGE TERRACE LOCATION, ON A NON THROUGH TRAFFIC QUAINT STREET. DEEP LOT WITH A DETACHED GARAGE AND SEPARATE ENCLOSED OUT BUILDING TO REAR OF PARCEL. PROPERTY REFLECTS EXTENSIVE DEFERRED MAINTENANCE WITH POTENTIAL AND CHARACTOR.

I thought I’d close out the year on a happy note with this great find from Burbed reader Steve.

At $1374 per square foot, this 2/1 tear down exemplifies the best of the Real Bay Area. This house is the shining beacon of hope in these dark and difficult times. It is the landmark that all other houses can aspire to. It provides hope, and a glimmer of what’s to come.

Like a fine champagne, this amazing Palo Alto house sits, waiting for you to savor it. Go for it. Let’s wrap up 2008 in style.

127 BROAD St, San Francisco County, CA 94112 | MLS# 80778010
127 BROAD St San Francisco County, CA 94112
Price: $390,000
Beds: 2
Baths: 1
Sq. Ft.: 783
$/Sq. Ft.: $498

Lot Size: 2,495 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Year Built: 1900
Stories: 1
View: City Lights
Neighborhood: Other Area
County: San Francisco
MLS#: 80778010
Source: MLSListings
Status: Active
On Redfin: 312 days
Unsold in 90 days
Big price reduction, great investment opportunity for investor or first time buyer. This semi-detached house is Zoned RH2. It has 2 Bedroom & 1 Bath, living room, kitchen, new water heater, new fenced. One block to street car, close to school, shopping, transportation and freeways, great location, great price. House is vacant, lockbox on.

Thanks to Burebd reader Sonarrat for this find. Hah and to think that people say San Francisco isn’t affordable. Sure it is - anyone can afford this house. At $390,000 it is an absolute steal. And it’s a very reasonable $498 per square foot.

Here’s another photo that the realtor thought would be helpful in your decision making:

How cute! Note that the house is zoned RH2, so there’s definitely the potential to expand and monetize this lot to its fullest potential.

Is this a smart, affordable investment in San Francisco? I think so. Don’t you?

555 FOURTH STREET #521, San Francisco, CA 94107 - presented by Daniel Hershkowitz
HUGE PRICE REDUCTION –$150,000– THE PALMS SF
$699,000

555 FOURTH STREET #521, San Francisco, CA 94107

Features:

* 2 bedrooms, 2 baths
* Contemporary Classic in the Heart of San Francisco
* Designer Italian Kitchen w/ Finest Cabinets, Counters & Appliances
* Light-Filled Living Room w/ City Views & Balcony
* Spacious Master Bedroom w/ His & Her California Closets & Sleek Master Bath
* First Class Amenities — 24hr Concierge, Full Gym, Yoga Studio, Business Center, Billiards, Theatre
* MLS# 341320

Thanks to Burbed reader Andy for this find.

I hate to say this, but wasn’t it obvious that the price would be cut at places like this in SoMA San Francisco? I mean, come on - there is seriously nothing there. Sure there’s a Whole Foods, but it is truly dinky. And culture? Give me a break.

It’s no secret that everyone is flocking to places like Cupertino. Heck, just look at the size of the Whole Foods there! And the choices of eateries definitely beats SoMA. Afterall, there’s Cupertino Square. Take that Metreon!

Sorry SoMA San Francisco. You were cool earlier this decade - but now it is Cupertino’s time to shine.