888 on 8/8/8 in Belmont – 1105 North Rd
1105 North Rd Belmont, CA 94002
| Beds: | 3 |
| Baths: | 2 |
| Sqft: | 1,330 |
| Style: | Residential |
I think this property was on MLS a while back and went off the market. Now I see it on Craigslist for $748888 in the for sale by owner category! It was last sold in 2006 for $760000 so the difference isn’t all that large, and it has a basement. That’s pretty rare in the Bay Area. Anyway the Craigslist listing says to call (520)603-6457 or email hous-788333134@craigslist.org if you’re interested.
63 Appian Way #C $450000 Foreclosure-Need Immediate Offer (south san francisco)
63 Appian Way #C South San Francisco, CA , 94080
| Beds: | 2 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,675 |
| $/Sq. Ft.: | $309 |
| Lot Size: | - |
| Property Type: | Attached, Townhouse, Condominium |
| Property Style: | Contemporary |
This property is currently on MLS listed at $518k, but I saw this Craiglist listing that states the following:
$450000 Foreclosure-Need Immediate Offer
Reply to: ildiko@princeton-realestate.com
Date: 2008-08-04, 10:39AM PDTForget looking for a bargain elsewhere! This pristine 2 bedroom/2.5 bath townhome in SSF with panoramic views, ideally located within minutes of downtown San Francisco & Silicon Valley. This unit has everything you need for luxury living in the Bay Area including 2 car parking, laundry in unit and much more. This is a short sale.
Contact me today to schedule a time to see this great value! 415-412-8721
This property was bought in the last bubble of the late 80s and has a pretty high HOA fee. Most likely this short sale won’t go through, but maybe someone will help this guy out?
405 91ST St #16 Daly City, CA 94015 – Probably Worth Buying
405 91ST St #16 Daly City, CA 94015
Price: $190,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 917 |
| $/Sq. Ft.: | $207 |
| Lot Size: | - |
| Age (Years): | 27 |
| Year Built: | 1981 |
| Type: | Condominium |
This is another one of the properties I feel is almost worth buying. Even though this property has no last sale price it is listed as Bank-owned/REO so it is a distressed property. One bedrooms in Daly City rent anywhere from $1150 to $1500 according to Craigslist. If you put 20% down on this and get a loan of $152k at 6.75% for 30 years, your monthly mortgage would be around $985. Add a $304 monthly HOA and property taxes of $200 a month you get a total of $1489 a month. Throw in some tax rebate and it isn’t so bad. Of course, since this is an REO you need to check it out thoroughly to see if you need to fix it up and such. It might cost more than just its listing price.
702 CASSIA St Redwood City, CA 94063 – Almost Worth Buying?
702 CASSIA St Redwood City, CA 94063
Price: $448,000
| Beds: | 3 |
| Baths: | 1.5 |
| Sq. Ft.: | 1,815 |
| $/Sq. Ft.: | $247 |
| Lot Size: | - |
| Age (Years): | 34 |
| Year Built: | 1974 |
| Type: | Townhouse |
Days on market: 154
Okay this isn’t exactly a home seller in trouble since the last sale date was 1991 and it sold for 225k. However, this townhouse has been listed for more than 5 months and suffered a pricecut of around $150k. At the current price, it is almost worth buying. If you put $90k down and get a 30 year mortgage at 6.75% the monthly mortgage would be around $2300. That’s about the amount of rent you need to pay to rent such a place. Of course, there is an HOA of $175 and property taxes of around $300 to $400 a month. However, those fees should be covered by the tax rebate on the interest for the first few years. So I think this property is almost worth buying. What do you think?
930 ROSEWOOD Dr San Mateo, CA 94401
930 ROSEWOOD Dr San Mateo, CA 94401
Price: $1,249,000
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,090 |
| $/Sq. Ft.: | $598 |
| Lot Size: | 6,930 Sq. Ft. |
| Age (Years): | 80 |
| Year Built: | 1928 |
| Type: | Detached Single Family |
| Style: | Spanish |
| Stories: | Bi/Split Level |
Last sale: May 11, 2005 $1,305,000
Loss if sold for asking: $56000 or 4.3%
That picture makes it look like a very small house with a false wall. It doesn’t exactly scream million dollar home. Here are some comparable data from Redfin that shows a couple troubled homes that sold recently in the neighborhood:
$607,670 720 S Delaware St
Sold on Jun 25, 2008 ,0.23 miles away, 5 bd / 3 ba 2,033 Sq. Ft.
$835,000 718 10th Ave
Sold on Apr 10, 2008 0.32 miles away, 2 bd / 2 ba 1,959 Sq. Ft.
So basically at $598 per square foot, this home is still overpriced for its neighborhood.
Offers
Subscribe to San Mateo Home Sellers in Trouble
