July 2008 Troubled Sellers Update Part I – Atherton to Daly City
Well, I have been pretty busy in July so I didn’t post a lot, but this month I will update quite a bit and concentrate on the homes above the $1 million range. One major thing that happened in July was that the damned housing bailout bill passed. Anyway, here is the summary data from July. I’m still compiling some of it so please be patient!
City of Atherton
Atherton is still holding onto 199 Selby Ln. I wonder if the deal actually closed since it still says pending with release.
City of Belmont
On 7/31 only four listings are in trouble, and two of them are already pending. The newest addition is 300 Davey Glen Rd #3622. Another property of interest at 15 Kittie Ln has been withdrawn and now shows a new sale price on June 25th of $772124. That means it probably foreclosed officially and will come back on the market at a lower price.
Raw data available: belmont731.csv
City of Brisbane
This month, there are four condos listing for lower than their last selling price. They are: 632 Callippe Ct, 411 Callippe Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611
A newly reduced property is at 237 Kings Rd, and it’s now $2000 below its 2006 sale price. This brings the total troubled listings in Brisbane to 5.
City of Burlingame
Once again, we have three properties in Burlingame. The price has been reduced on 840 Newhall Rd in July so now it is at the same price as 2006. 912 Toyon Dr is now pending with release. 1657 Westmoor Rd is still active on the market after 80 days.
City of Colma
Two troubled properties left on B Street! They are 531 B St and 528 B St.
City of Daly City
Almost 50 new troubled listings from Daly City were posted in July. About 30 went off the market so we have a total of 188 listings still on the market. This is a net gain of 26 from last month. Some standouts include 92 Norwood, which is down $298k from its 2007 price, and 61 Chester St, which is somewhat worth buying considered that it’s priced at $149k. I guess when you price it low enough people will buy because 61 Chester St is already pending. It is down from its 2006 price of $360k. Another thing I noticed is that a lot of condos in Crown Colony are selling because they’re being priced under $200k. Considering that renting an one bedroom in Daly City costs anywhere around $1000 to $1400, these condos that are only $160k could actually be cheaper than renting.
Anyway, here’s the full data: dalycity731.csv
More to come!
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