Saturday, May 27, 2006

Old Blue-Collar Tract POS in San Rafael

Wonderful home with some deferred maintenance-3be/2ba with original hardwood floors, detached two car garage and large back yard. Close to jcc, local k-8 school, open space, farmer's market. Great for first time buyers in marin county.
This San Rafael POS (3 br 2 ba, built 1953, 1542 sq ft) makes me sick just looking at it. I mean, you can see the stains and cracked stucco even in the picture. No upgrades whatsoever. The kitchen cabinets (as well as the carpets) are some sickly yellowish-green in color. The stove looks like it dates from the 1950s. The bathrooms? 1950s era. The junk-filled backyard is a muddy mess where even the grass struggles to hold on to dear life. And for this heap of ugliness you have to pay $645,000. That's six-hundred-fourty-five-thousand dollars, not pesos, but dollars.

It's an old blue-collar tract home and it should be priced like an old blue-collar tract home.

It really bothers me when a realtor says about a POS like this "Great for first time buyers in marin county". No, I'm sorry, but that is just plain BS. Am I the only person who sees a problem with this? No first time buyer wants to buy a wreck like this for that kind of money. Why are we now at the point where the first time buyer has to buy a joke of a house like this for such an astronomical amount of money? This sort of POS should be marketed towards people who make it a business of tearing down crap like this and building something better in its place; it should not be marketed to first time buyers who in all likelihood want to start a family. Would you want to start a family in this POS? Would you have wanted to have been raised in a POS like this?

Folks, it's time to stop the madness. Only you can do it and it has to be a collective effort. Boycott housing for one to two years.

12 Comments:

Blogger marin_explorer said...

The "first time buyers to Marin" line gets me too. Everytime a realtor parrots this cliché, I wonder who really buys it anymore? Marin is just one location among many; your job won't magically improve and your kids won't become geniuses if you move here. So if you buy a PoS in Marin, you're simply saddled with more debt for the elusive reward of getting less for your dollar--but "in Marin". Nice logic.

May 27, 2006 3:47 PM  
Anonymous Anonymous said...

Yeah, Marin is vastly overrated compared to other Bay Area counties. I know this topic has been covered extensively already on this blog. Someone kept mentioning how often you can "play golf" - I guess Marin is some kind of golfer's paradise? Not that I've ever heard, but okay, dude, whatever. I don't play golf, myself. I live in Sonoma County and I think it's prettier, friendlier, and overall much more desirable than Marin. The only thing Marin has going for it is the fact that it's closer to SF and to the airports. But if you work in SF, and you can afford to live that close in, why not just live in the city?

May 29, 2006 8:39 PM  
Blogger rejunkie said...

I know this topic has been covered extensively already on this blog

Indeed, so why beat this dead horse? It is summed up as "To each his own". If you are happy living in Sonoma, power to you -- there is no need to condemn the choice made by 250,000 Marin residents.

May 29, 2006 10:06 PM  
Blogger Hapto said...

totally off topic, but what the h-e-double-hockeysticks happened to "Overvalued.blogspot.com"?

It disapeared, then popped up with some "buy commercial realestate from me" blog.

Any ideas?

May 30, 2006 6:54 AM  
Anonymous Anonymous said...

I'm also wondering about 'overvalued'. Is it possible the guy sold it off for the traffic value he created? The site that's there now is clearly a search engine spam page for god knows who. Anyway, I'll miss it.

May 30, 2006 9:31 AM  
Blogger fredtobik said...

What makes this even more of a POS is that it is in a bad location, if you drive around that neighborhood after it has rained the roads are always flooded, the houses are not well maintained, so I would assume a lot of renters etc...

May 30, 2006 12:35 PM  
Blogger marin_explorer said...

Indeed, so why beat this dead horse? It is summed up as "To each his own".

We could also ask why realtors trot out these clichés time and again, because they cast little meaning on actual home values. This is hardly about disparaging the population of Marin (which includes us); it's more about getting past the hype and myth. And I think that's what this PoS blog is about.

May 30, 2006 1:36 PM  
Blogger Marinite said...

And I think that's what this PoS blog is about.

Exactly. But we are not past having a bit of fun in the process.

May 30, 2006 3:41 PM  
Anonymous Anonymous said...

I also want to know what happened to the Overvalued RE blog!These two are my favorites and I'm crushed by it's sudden disappearance. I e-mailed the guy but no response. Commercial RE? At first, I thought the site got hacked but it's been up there like that all day!

May 30, 2006 4:01 PM  
Anonymous Anonymous said...

check it out! Looks like overvalued and a few other have indeed been hacked!

http://marinrealestatebubble.blogspot.com/2006/05/housing-bubble-bloggers-under-attack.html

May 30, 2006 4:41 PM  
Anonymous Anonymous said...

The Overpriced DC blog has been hacked too.

http://overpriceddc.blogspot.com/

I hope someone can contact the original owners.

May 31, 2006 1:07 AM  
Anonymous Anonymous said...

Bubbletown News "has been temporarily disabled. If you are the owner of the site, please contact customer care."


http://www.enaghbeg.com/Housing_crash/bubbletown_news.html

May 31, 2006 11:05 AM  

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