September 2008 Troubled Sellers Update Part I – Atherton to East Palo Alto

These couple months have been quite crazy for me personally and for the financial markets as a whole.  I started this series on troubled home sellers about a year ago, and I am surprised that I am still keeping track of these somewhat depressing statistics.  Anyway, here are the numbers for September.

City of Atherton

Atherton currently has this home at 486 Walsh Rd listed for $175k below its 2000 sale price.  Its 2006 sale price is much lower, though.

City of Belmont

Now there are 8 properties in trouble in Belmont and that isn’t too big of a difference since last month.  One new property is at 1222 North Rd, and another property at 2824 Monte Cresta Dr.  just reduced its listing price for $100k, making it below its last sale price.

Raw data available: belmont930.csv

City of Brisbane

Brisbane’s number is down to 5.   There is nothing really new in this city.  Very few new listings were put up.

Raw data available:  brisbane930.csv

City of Burlingame

Burlingame is holding on to 5 troubled properties.  All of them are above the $1 million mark.

Raw data available: burlingame930.csv

City of Colma

531 B St was finally sold in September after being on the market for nearly a year.   528 B St is still on the market and suffered a $30k pricecut in September.

321 Hoffman St  is now pending with release after being relisted in September.

City of Daly City

The number of troubled properties in Daly City is now 166, and that’s a decrease of 21 from last month.  It seems that a lot of properties sold in August, and that corroborates the news today that home sales numbers went up.  The biggest loser of September is 185 Belcrest Ave, which is down more than $270k.  Another home of note is 467 Winchester, which is down more than $320k.  This reappeared on the market after it went off so it is a relist to freshen up the listing.

Anyway, here’s the full data: dalycity930.csv

East Palo Alto

Following the trend in Daly City, the number of troubled sellers also went down in East Palo Alto.  Now there are only 81 troubled sellers.  One listing of note is 1511 Kavanaugh Dr.  Supposedly this sold for only $1000 on 8/12/2008.  I’m not sure if that is a mistake or if it really sold for $1000.  Another listing I noticed is 2390 Dumbarton, which suffered  a $300k pricecut on 9/11/2008.  That’s a truly amazing pricecut on a house first listed for $496k.

Raw data available: epa930.csv

More to come!

October 8, 2008 | Filed Under City of Atherton, City of Belmont, City of Brisbane, City of Burlingame, City of Colma, City of Daly City, City of East Palo Alto | Leave a Comment