270 VERA Ave Redwood City, CA 94061 – Rolled back to pre-2002
270 VERA Ave Redwood City, CA 94061
Price: $499,900
| Beds: | 2 |
| Baths: | 3 |
| Sq. Ft.: | 1,730 |
| $/Sq. Ft.: | $289 |
| Lot Size: | 3,570 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Traditional |
| Year Built: | 1922 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Central Park |
| County: | San Mateo |
Last sale:
| Feb 15, 2008 | Sold | $623,250 |
This house is currently owned by Countrywide/Bank of America and the last sale was a foreclosure auction. It is in a good area and the size is decent, but the house is pretty old and it has the old style electric heaters. It’s interesting to see that some of the past owners of this home had 100% financing as early as 2002 when the home sold for $530,000. Now I guess they realized that all that money didn’t really exist to begin with. The price has been dropped about $50k since its listing in the end of October.
177 VELASCO Ave & 165 Velasco Ave Daly City, CA 94014 – Fishy Sales Histories
177 VELASCO Ave Daly City, CA 94014
Price: $564,900
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 2,370 |
| $/Sq. Ft.: | $238 |
| Lot Size: | 2,500 Sq. Ft. |
| Property Type: | Attached Single Family |
| Style: | Contemporary |
| Year Built: | 2004 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Southern Hills |
| County: | San Mateo |
Last sale:
| Jan 31, 2006 | Sold | $865,000 |
This home at 177 Velasco was first listed in April 2007. Now it’s once again on the market at an even lower price. What’s interesting to note is the sales history of this home. First it was sold for $670k in 2004 to an Allen, Tina N with two Countrywide loans that added up to 100% of the home. And then in 2005 the home was sold between Nguyen, Trang K and Nguyen, Hung for $750k. Again this was done with a 100% Countrywide loan. Then finally Allen, Nhi T sold the home to Abiva, Jeremy and Allen, Tina Nhi in 2006 for $865k. It seems like Allen, Nhi T and Allen, Tina Nhi are the same person. Additionally, if you look at the sales history for another foreclosed property at 165 Velasco you’ll see the same sale prices of $670k to $865k and the same repeating names of Allen, Nhi T, Nguyen, Hung, and Nguyen, Trang K where Allen, Nhi T sells 165 Velasco to the Nguyens for $865k. I’m not quite sure what’s going on, but the bottom line is that Countrywide definitely lost money on these.
1803 S NORFOLK St San Mateo, CA 94403
1803 S NORFOLK St San Mateo, CA 94403
Price: $650,000
| Beds: | 5 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,990 |
| $/Sq. Ft.: | $327 |
| Lot Size: | 5,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 1954 |
| Stories: | 1 |
| View: | Neighborhood |
| Neighborhood: | Parkside |
| County: | San Mateo |
Last sale:
| Sep 29, 2005 | Sold | $975,000 |
Loss if sold for asking: $325,000 or 33.3%
This house is a short sale. Supposedly it was a nursing home and the last seller put down 10% and took out two ARM loans for 80% and 10%:
| Owner address | 1803 Norfolk St | ||
| Lender # 1 | Stearns Lndg Inc | ||
| Loan amount # 1 | $731,250 | ||
| Lender # 2 | Stearns Lndg Inc | ||
| Loan amount # 2 | $146,250 |
3550 CARTER Dr #00078 South San Francisco, CA 94080 – New Price
I first posted about this property 8 months ago. Now it is back on the market and it is listed for $399k. In the last post some people wondered how this condo could have sold for more than $900k in 2004. Apparently, the owner sold the home to himself according to county records:
| Document Details | |||
|---|---|---|---|
| Sale amount | $928,000 | ||
| Lender # 1 | Empire Capital Mortgage Corp | ||
| Loan amount # 1 | $408,000 | ||
He bought it for $375k back in 2002, and it’s pretty weird that it could just be sold back to himself like this.
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