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2509 Begonia St, Union City, CA 94587


By SunnyCal   Follow   Sat, 17 Nov 2012, 11:46pm PST   2,250 views   14 comments
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http://www.redfin.com/CA/Union-City/2509-Begonia-St-94587/home/530127?source=Patrick.net

Similar houses in this area were selling for upper 300's lower 400's a few months ago. I checked this house out. Seems like some upgrades were done, all the appliances have stickers hanging off them. Never been used is what the realtor said.
For the area it seems expensive to me.
I live on the same street and rent for 1750 + gardner.
(never owned, rented for 15 years in different cities)

We were planning on making an offer of 435000. Suggestions?

Comments 1-14 of 14     Last »

RentingForHalfTheCost   Mon, 19 Nov 2012, 6:43am PST   Share   Quote   Permalink   Like (2)   Dislike (2)     Comment 1

Nice paper house. Half a million sounds about right. That is a good price for approx. 6000sqft of landfill. Just don't plan on doing a vegetable garden in the back.

On the plus side, if there is a fire, you can just punch your way out through the walls. Hell, if you are lucky enough to be in the kitchen, a steak knife would be enough to cut a new door if needed.

:)

RentingForHalfTheCost   Mon, 19 Nov 2012, 6:47am PST   Share   Quote   Permalink   Like (2)   Dislike (1)     Comment 2

Also, just so you know. The place is in a "very high" grade of liquefaction. Check it out

http://geomaps.wr.usgs.gov/sfgeo/liquefaction/susceptibility.html

I'd get your helicopter license and have one sitting in the backyard in place of vegetables.

pkennedy   Tue, 27 Nov 2012, 4:30am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 3

E-man has learned how to access far too much information on his own, and he knows exactly how to use it.

Sending in an offer means understanding what is motivating the owner to sell, and E-man closes deals because he knows what is motivating the seller and how to approach them and he's very likely pegged it here. The guy has no strings you can pull. He's got plenty of money, he renovated for a reason, and now he can wait it out.

SunnyCal   Tue, 27 Nov 2012, 5:04am PST   Share   Quote   Permalink   Like   Dislike     Comment 4

Thanks E-man, pkennedy.
E-man, Is this real information or just a likely scenario?

My rental is a 100 sqft smaller than this one.

SunnyCal   Tue, 27 Nov 2012, 5:08am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

RentingForHalfTheCost,

I actually do have a vegetable garden in my backyard.

I'd probably put my ham license to use and radio for a helicopter.

SunnyCal   Sun, 2 Dec 2012, 8:47am PST   Share   Quote   Permalink   Like   Dislike (1)     Comment 6

Latest on this...

The deadline to receive offers was changed twice and this Saturday they had another open house.
I talked to the 'sellers' real estate agent and he said that there was very good response and the owner is trying to get more money for the house. He said that the highest offer he received was 535K.
I guess he is waiting it out...

mell   Sun, 2 Dec 2012, 12:25pm PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 7

I think you should put in your initial offer unless it is a lot of hassle since it is very likely not going to be accepted (the winning bid can always fall through though). I think once you are pre-approved or have all cash, putting in offers is no work at all (I only bid once on a place and all we had to do was telling the agent the amount). If you have the time to determine the amounts you are comfortable with (as opposed to what is the asking price) you might
a) either luck out one day
b) determine that the market is on steroids aka cheap credit (again) and overpriced

or both :)

I am not looking but I have been to a couple of open houses throughout the years and never had a problem telling anybody who was present (realtors, owners, other buyers) what I would pay for this place and it was usually at least 20% below asking price ;)

SunnyCal   Mon, 3 Dec 2012, 8:26am PST   Share   Quote   Permalink   Like   Dislike     Comment 8

Thank you E-man, mell. Since I have never made an offer before. I think I'll probably just make an offer.

yup1   Mon, 3 Dec 2012, 8:45am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 9

SunnyCal save yourself lots of money and buy in February or early March before the spring rush.........

SunnyCal   Tue, 4 Dec 2012, 9:11am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 10

yup1 says

SunnyCal save yourself lots of money and buy in February or early March before the spring rush.........

Looks like I am headed in that direction.

SunnyCal   Tue, 4 Dec 2012, 9:12am PST   Share   Quote   Permalink   Like   Dislike     Comment 11

E-man says

SunnyCal says



Thank you E-man, mell. Since I have never made an offer before. I think I'll probably just make an offer.


In this supposedly hot market, the property will go stale after 30 days on the market. However, the owner will eventually get the price they want if they hold out long enough. There's a saying that a sucker born every minute. :)

Seems like that. Latest is that there were 12 offers on this and the highest was 540K. Another realtor told me that there is a crazy bidding war going on.

SunnyCal   Tue, 4 Dec 2012, 9:14am PST   Share   Quote   Permalink   Like   Dislike     Comment 12

E-man says

Looking at the pictures, the roof is at the end of its life. That would be a $7k-$8k expense. Does the outside need a new coat of paint? The front lawn can use a face lift too. Too much weeds on the lawn from the picture. So I guess another $12k improvement would make this house look very nice inside out. The grease and dirt on the driveway can be cleaned with a 3,000 psi pressure washer.
Renting for half the cost, almost the entire Bay Area is in liquefaction zone. As long as your property is not located on an old landfill or hydraulic filled sand, you should be okay in most cases. Look at the geology of Foster City, San Francisco, Marina, and Oakland. People are still buying in certain part of these areas where properties are sitting right on top of liquefy able sand. Crazy.

Thanks. I am amazed you can tell so much by just looking at the pictures.

zzyzzx   Fri, 14 Dec 2012, 10:23am PST   Share   Quote   Permalink   Like (2)   Dislike     Comment 13

SunnyCal says

Latest is that there were 12 offers on this

E-man   Sun, 3 Feb 2013, 1:34am PST   Share   Quote   Permalink   Like   Dislike     Comment 14

SunnyCal says

Seems like that. Latest is that there were 12 offers on this and the highest was 540K. Another realtor told me that there is a crazy bidding war going on.

@Sunnycal,

So it was correct that the highest offer was not the best offer because it sold for $505k. If you look at the time frame, it took about 3 weeks for the property to go pending. That means they had some offers by the 2nd week to play around with and the counter and re-counter offers took about a week or so.

It closed in 3 weeks. Wow, the loan officer was doing his/her job.

yup1 says

SunnyCal save yourself lots of money and buy in February or early March before the spring rush.........

Yup, looks like that was not the right bet. :)

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