Cheapest San Mateo Homes by Price per Square Foot 6/10/2008 Edition
This is is a continuation of the cheapest homes by price per square foot in each San Mateo city. Now it’s time for the June 2008 issue.
Atherton - This home seller in trouble at 199 Selby is pending with release at $537 per square foot. This home has been on the market for a very long time. I hope whoever bought it is happy with it.
Belmont - This 5 bedroom fixer at 721 Alameda de Las Pulgas in Belmont is the best value per square foot. Since the report last month, it has dropped its price again so now it’s only $292 per square foot. I’m surprised that it’s been on the market for so long at this price. It must have some major problems.
Brisbane - I am very confused by the seller of this condo in Brisbane. In the last two reports it was selling for $330 per square foot, but the sellers decided to raise the price by $30k and now it’s listing for $349 per square foot. Do they really think raising the price will attract buyers in this market?
Burlingame - This interesting mixed use property seems to be the best value at $424 per square foot. However, I think some of the square footage includes the commercial space.
Colma - In Colma, the same undisclosed property as the last report is still selling for $311 per squarefoot. Supposedly it is only 4 years old.
Daly City - This 4 year old new construction home at 153 Velasco is a new home seller in trouble. At $232 per square foot, it’s about $100k off its 2004 price. Interestingly enough, now there are a lot of Daly City homes listing in the $230s per square foot. This is a vast difference from last month where the cheapest was $270+ per square foot.
East Palo Alto - This house at 2833 Fordham was only on the market for 6 days and now it’s pending without release. The reason is obvious. It’s listed for $109,500 total, and that makes it only $106 per square foot and that’s a bargain even for East Palo Alto. Its peak price was $657,500 in 2007. Ouch, this is a loss of 83.3%. The next cheapest property is at 144 Gardenia Way, and it’s now listing at $165 per square foot after another recent price cut.
Foster City - This condo at 1171 Compass Ln is now the cheapest listing at $374 per square foot. I noticed that a lot of condos in Foster City are now dropping their price per square foot under $400.
Half Moon Bay - This listing at 1017 Dwight has gone through a couple price cuts and now it’s listing at $248 per square foot. This looks like a decent home.
Hillsborough - The same mansion measuring over 6000 square feet is listing for $470 per square foot. I imagine it will take a while to move this baby, but it is cheap for Hillsborough!
Menlo Park - 1340 Windermere Ave has now gone through 13 price cuts and is now listing for $303 per square foot. It’s almost 300k off its peak sale price, but not yet.
Millbrae - This is the same mansion at 866 Morningside Dr. It is $398 per square foot, but it’s 4760 square feet.
Pacifica - The new winner in Pacifica is at 1104 Rosita Rd. At $303 per square foot, this seems quite cheap, but the description seems to be written by someone who loves capslock.
Portola Valley - This is the same McMansion over 3000 square feet we saw last month. There’s not too much information on this property, but it is listing at $566 per square foot, which is the best deal in Portola Valley.
Redwood City - The same duplex at 602 Heller is still selling for $283 per square foot. The next cheapest property is at 697 Warrington Ave, but this one is a bit sketchy since it looks like a plot of land and the owner promises to build you a house. Say what?
San Bruno - 508 4th Ave has been in my list of San Mateo Home Sellers in Trouble ever since I started the series in October, 2007. It seems that now it’s contingent, which means that the deal could still fail. It is listed at $247 per square foot but I wonder what the final sales price would be.
San Carlos - The same listing at Windsor Dr is still going for $388 per square foot. I thought it would be pending by now since a crappier house supposedly got 10 offers.
San Mateo - This large townhouse in trouble is currently going for $321 per square foot. It’s 25% off its last price.
South San Francisco - Via Redfin’s new foreclosure search feature, we find this property at 3855 Carter. It is going for $207 per square foot, but I think it is the address of a condo/townhouse complex. Though it’s funny that it says the assessed value is around $260k.
Woodside - This is certainly an interesting looking house at 23 Skylonda. At $500 per square foot, it’s the best value in Woodside.
There you have it, some of the best “values” in San Mateo County. There are some new listings, and some oldies still on the market. I will do another update next month!
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I have a relative who is going to be absolutely crushed when that 227 Windsor home sells in San Carlos. They bought in October 2006 and spent $572 / sqft….with a 10-year, Interest Only loan. Gulp. BTW, Zillow has that Windsor home estimated *at least* 23% too high….LOL.
I like how cyberhomes tells like it is and says that it’s worth only 220k, though.