Sunday, January 15, 2006

"A Really Junky House" in San Rafael

This San Rafael PoS (built in 1955) just came on the market. At 1512 sq ft. it's average sized by Marin standards. But just look at this thing. Gray, stained exterior paint that matches Marin's typically cloudy and rainy sky this time of year. Cracked and oil stained driveway. And then there is that added "touch of class" -- the lazily coiled garden hose lying on the ground. This thing has no curb appeal at all and screams "I'm too lazy to even paint the exterior or otherwise make this thing look presentable because I fully plan on screwing you, the buyer, for a windfall... ah, ha ha haaa". Also, it used to be a child-care center if you can believe that so you know it's been beat on. Even the realtor write-up admits that it needs "just a little more tlc". Even my young daughter when she first saw this picture said, and I quote, "that looks like a really junky house". So how much for this PoS? A ridiculous $725,000.


Blogger SiliconValley Renter said...

You gotta love the honesty of kids! It continues to amaze me how people can ask 3/4 million $$ and not spend $50 on paint.

At least make it look like a place I'd not be embarrassed to bring my friends/family over for the big house-warming party.

"You're cordially invited to welcome us to our new lovely home, please bring cleaning supplies and face masks (carpet still smells of urine)."

January 15, 2006 11:17 AM  
Blogger marin_explorer said...

Houses like this one exhibit some of the steepest appreciation since '00, when comparable homes sold for under $300K. Can a valid explanation be given for this level of "return"? I wish my stock portfolios did this well.

January 15, 2006 4:19 PM  
Blogger mogger said...

Yep it`s almost lotto, that`s a lot of money...for nothing.

Then again for people to pay it they must see value somewhere, and let`s face it there is a lot of people out there with a lot of money.
A million bucks ain`t what it used to be!.

January 16, 2006 1:10 AM  
Blogger Marinite said...

The "value" is that nothing else is close to being affordable.

January 16, 2006 9:19 AM  
Anonymous by_palladium said...

It would be really cool to somehow keep tabs the sales histories going forward on all the beauties that are featured on these pages so that the most marginal of Marin's RE transactions can be exposed over time.

Hopefully, that would most clearly show the downward trend that so many of us expect.

For example - in this market, to me, it is inconcievable that this POS would go for even half its asking price. I would love to see figures over time that either confirm or refute my biased and non-scientific assessment.

January 16, 2006 9:59 AM  
Blogger VO5 said...

This roach coach will sit or go for under asking, Of course I'd love to see the thin lipped RE B***h representing the owners giving her rediculous speech to the owners on what a "very desireable area your home is in, right here in the middle of other Ikler fire boxes. Maybe we should wait til 4th of July and give the 7 minutes and you're up in smoke demo". It'll show hot hot this property really is!

January 16, 2006 12:04 PM  
Blogger Marinite said...

I should confess to all that I think Eichler houses are flawed by design -- designed to be butt ugly. I have resited posting Eichlers because I am so biased but I couldnt resist here.

January 16, 2006 5:02 PM  
Blogger INVESTORDUDE said...

This comment has been removed by a blog administrator.

January 16, 2006 11:40 PM  
Blogger INVESTORDUDE said...

This house is too ugly to comment on. It doesn't need TLC. It needs an enema.

January 16, 2006 11:42 PM  
Blogger marin_explorer said...

one major Eichler design flaw being slab floors, which don't work well with Marin winters. These are sheds, not homes--and should be priced accordingly.

January 17, 2006 9:33 AM  
Blogger Out at the peak said...

Even the $300K price is too much for this junk. I really need to get out of California. Even if prices drop 60%, the houses are still not worth it.

January 18, 2006 2:20 PM  
Blogger fredtobik said...

Go Figure, I like Eighler house designs, I remember reading about them being designed to co-exist with nature, atriums, inside out kind of stuff, seems to fit a Marin. I don't own one, they seem to be in Terra Linda, and Marinwood area, not much comes up in those locales, and the commute would suck a bit.

January 25, 2006 2:35 PM  
Anonymous rejunkie said...

I grew up in a TL Eichler and my folks still live in one. Nice to be inside, not so nice when paying the PG&E bill.

January 27, 2006 4:44 PM  
Blogger Riskbabe said...

Just Googled Eichler. Pretty impressive mid century homes. WAY better condition than the POS shown. I agree with the poster who mentioned at least making it presentable. It might look nice if anyone put their crackpipe down long enough to paint the outside and remove the dead foliage and garden hose from the front yard.

February 22, 2006 2:29 PM  
Anonymous Anonymous said...

The original poster is actually the uneducated one here....

Eichlers are midcentury modern, post & beam homes that ALL have a very passive and subdued facing. The color design scheme calls for earth tone, subdued colors. The back and sides of the homes are almost entirely made up of floor to ceiling glass (which is possible because no weight-bearing walls are required with this method of construction), effectively bringing the "outside in". These homes are actually very high demand houses ASSUMING they are 'intact' and someone hasn't tried to update them without an eye and undertanding of modern design (note: if you like crown molding and Laura Ashley/Martha Stewart design, these are not the homes for you).

Also, these homes are NOT supposed to be painted but instead stained since Eichler siding has distinct vertical lines that would be concealed after a few coats of paint.

While I agree that this house could utilize some work, you are making a mistake by judging these homes by their frontage.

As the previously poster mentioned, Google "Eichler" to see what I mean. To open your minds to Eichler, just take a look at this other Eichler that is also in Marin:

February 26, 2006 12:23 AM  
Anonymous Anonymous said...

what the f***????? Where I live there are only like 12 houses in the 500,000.00 and above price available? People who can afford these houses make way too much money. I work 50 hours a week and cant afford a 120,000.00 house.

April 15, 2006 1:22 PM  

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